XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Feb. 28, 2023
Feb. 28, 2022
Cash flows from operating activities:    
Net loss $ (5,347,823) $ (2,772,023)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 65,640 102,272
Recovery for allowance on accounts receivable (135,799) (817,122)
Inventory reserve (37,973) 270,805
Stock option expense 1,005,813 959,368
Amortization of right-of-use asset 202,275 189,696
Changes in assets and liabilities:    
Accounts receivable 155,058 1,113,435
Inventories 390,268 (295,980)
Prepaid expenses and other 1,835 (296,839)
Other assets 16,986 117,171
Accounts payable and accrued expenses (585,144) 2,025,460
Accrued compensation (126,487) 148,388
Advance from customers 87,343 3,213,052
Reduction in lease liability (203,315) (180,637)
Net cash (used in) provided by operating activities (4,511,323) 3,777,046
Cash flows from investing activities:    
Expenditures related to intangibles (113,436)
Purchases of property and equipment (63,860) (32,547)
Net cash used in investing activities (63,860) (145,983)
Cash flows from financing activities:    
Gross proceeds from sale of common stock 2,014,054 2,401,734
Costs from sale of common stock (52,822) (84,574)
Proceeds from exercise of stock options 79,155 39,175
Net cash provided by financing activities 2,040,387 2,356,335
Effect of exchange rate changes on cash (36,975) (12,901)
Net (decrease) increase in cash and cash equivalents (2,571,771) 5,974,497
Cash and cash equivalents at beginning of year 5,916,983 4,199,311
Cash and cash equivalents at end of the period 3,345,212 10,173,808
Cash paid during the period for:    
Income taxes $ 37,986 $ 13,334