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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
May 31, 2020
May 31, 2019
Cash flows from operating activities:    
Consolidated net loss $ (1,098,049) $ (1,299,055)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:    
Depreciation and amortization 7,787 11,586
Unrealized (gain) loss from marketable securities, net (15,112) 8,928
Loss on sale of fixed asset 2,882
Noncash lease expense 4,026
Deferred income taxes (148,000) (558,000)
Changes in operating assets and liabilities:    
Accounts receivable-trade 386,216 (215,758)
Other receivables 233 (3,227)
Prepaid expenses (84,380) (20,138)
Prepaid and recoverable income taxes (546,508) (24,171)
Accounts and other payables and accrued expenses and other current liabilities (892,309) 534,667
Legal settlement payable 827,822
Advances from customers (8,780) (21,218)
Net cash used in operating activities (1,567,054) (1,583,504)
Cash flows from investing activities:    
Proceeds from maturities of marketable securities 492,000 740,000
Purchases of marketable securities (739,000)
Proceeds from sale of fixed asset 10,000
Purchases of equipment and leasehold improvements (21,476) (3,244)
Net cash provided by investing activities 470,524 7,756
Cash flows from financing activities:    
Net drawings on line of credit 501,134
Proceeds from SBA Paycheck Protection Program loan 6,659,220
Distributions to noncontrolling interest (28,791) (52,700)
Net cash provided by (used in) financing activities 7,131,563 (52,700)
Net increase (decrease) in cash and cash equivalents 6,035,033 (1,628,448)
Cash and cash equivalents at beginning of year 3,694,989 5,323,437
Cash and cash equivalents at end of year 9,730,022 3,694,989
Supplemental disclosures of cash flow data:    
Income taxes paid $ 30,000 $ 52,000