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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Feb. 29, 2024
Feb. 28, 2023
Operating activities    
Net income $ 6,526,132 $ 4,220,766
Adjustments to reconcile net income to net cash flows from operating activities    
Depreciation 1,341,435 1,003,924
Amortization 1,852 0
Stock options issued for services 301,308 128,437
Changes in other assets and liabilities    
Accounts and other receivables, net 666,879 (4,096,679)
Inventory (1,094,260) 414,140
Costs and estimated earnings in excess of billings (409,837) (437,513)
Other current assets 203,809 (113,378)
Accounts payable (761,816) 40,323
Accrued expenses (38,331) (134,605)
Billings in excess of costs and estimated earnings (32,184) 315,233
Other assets (27,343) 0
Net operating activities 6,677,644 1,340,648
Investing activities    
Acquisition of property and equipment (755,339) (2,382,514)
Patent expenditures (300,000) 0
Purchase of short-term investments (7,553,133) (18,179,193)
Proceeds from sale of short-term investments 10,500,000 0
Other investing activities (3,588) (3,624)
Net investing activities 1,887,940 (20,565,331)
Financing activities    
Proceeds from issuance of common stock, net 443,513 91,492
Acquisition of treasury stock (9,527,866) 0
Net financing activities (9,084,353) 91,492
Net change in cash and cash equivalents (518,769) (19,133,191)
Cash and cash equivalents - beginning 3,575,219 22,517,038
Cash and cash equivalents - ending $ 3,056,450 $ 3,383,847