13. LONG-TERM DEBT	9 Months Ended
Feb. 28, 2021
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. While the Small Business Administration has not yet reviewed and approved the application, going beyond 90 days after submission, the Company believes the expenses met the criteria for forgiveness. However, 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

9 Months Ended

Feb. 28, 2021

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. While the Small Business Administration has not yet reviewed and approved the application, going beyond 90 days after submission, the Company believes the expenses met the criteria for forgiveness. However, no assurance can be given that the Company will obtain forgiveness of the amount due under the loan in whole or in part.