Segment Information

3 Months Ended

Aug. 31, 2020

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Segment Information

As described in Note 1 and Note 10, the Company closed on the acquisition of Ample Hills during the three months ended August 31, 2020. With the acquisition of Ample Hills, the Company has two reportable business segments, Ice Cream and Measurement. The Ice Cream Segment encompasses the activities of Ample Hills and focuses on the wholesale and retail sale of the Company’s ice cream products from 10 separate retail locations in New York, New Jersey and California. The Measurement Segment focuses on laser-based test and measurement systems and ultrasonic products. Substantially all of the Company’s operations are conducted within North America.

The Company has previously reported segment information between their two identified legacy reportable segments: Balancer and Measurement. As described in Note 8, the Company sold the Dynamic Balance Systems (“SBS”) business line on November 22, 2020. This entity composed substantially all of the business activities of the Company’s legacy Balancer segment. Subsequent to this sale, management determined that the Company had a single reportable segment (until the aforementioned acquisition of Ample Hills closed during the quarter ended August 31, 2020). The foregoing information presents the balances and activities of only the Measurement segment as of and for the three months ended August 31, 2019.

Segment Information

	Three Months Ended August 31,
	2020						2019
	Ice Cream*			Measurement			Ice Cream		Measurement
Net revenue	$	501,420		$	1,006,065		$	—	$	1,094,778
Operating loss	$	(962,754	)	$	(658,938	)	$	—	$	(229,883	)
Depreciation expense	$	35,326		$	20,908		$	—	$	15,908
Amortization expense	$	163,102		$	26,145		$	—	$	26,146
Capital expenditures	$	120,663		$	12,640		$	—	$	—

(*) Ice Cream Segment activity includes activities from the date of acquisition (July 9, 2020) through August 31, 2020

Segment Assets

	August 31, 2020		May 31, 2020
Segment assets to total assets
Ice Cream	$	17,611,627	$	—
Measurement		2,046,250		2,251,090
Corporate assets		7,617,784		10,950,136
Total assets	$	27,275,661	$	13,201,226