13. LONG-TERM DEBT	6 Months Ended
Nov. 30, 2020
Long-term Debt, Unclassified [Abstract]
13. LONG-TERM DEBT	13. LONG-TERM DEBT: On April 23, 2020, the Company obtained a Paycheck Protection Program Loan (the “PPP Loan”) in the aggregate amount of $1,679,000 from SVB. The PPP Loan was evidenced by a promissory note dated April 23, 2020 (the “Note”) that matures on April 23, 2022 and bears interest at a rate of 1% per annum. The PPP Loan proceeds were used for payroll, health care benefits, rent and utilities. Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loans granted under the PPP. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for payment of payroll costs, covered rent and mortgage obligations, and covered utility payments incurred by the Company. The Company applied on November 6, 2020 for loan forgiveness for the full amount of the borrowing and accrued interest. The Small Business Administration has 90 days from the date submitted to review and approve the application. No assurance can be given that the Company will obtain forgiveness of the amount due under the loan in whole or in part.

13. LONG-TERM DEBT

6 Months Ended

Nov. 30, 2020

Long-term Debt, Unclassified [Abstract]

13. LONG-TERM DEBT:

On April 23, 2020, the Company obtained a Paycheck Protection Program Loan (the “PPP Loan”) in the aggregate amount of $1,679,000 from SVB. The PPP Loan was evidenced by a promissory note dated April 23, 2020 (the “Note”) that matures on April 23, 2022 and bears interest at a rate of 1% per annum. The PPP Loan proceeds were used for payroll, health care benefits, rent and utilities.

Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loans granted under the PPP. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for payment of payroll costs, covered rent and mortgage obligations, and covered utility payments incurred by the Company. The Company applied on November 6, 2020 for loan forgiveness for the full amount of the borrowing and accrued interest. The Small Business Administration has 90 days from the date submitted to review and approve the application. No assurance can be given that the Company will obtain forgiveness of the amount due under the loan in whole or in part.