Note 4 - Property, Plant and Equipment

3 Months Ended

Aug. 31, 2023

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 4. Property, Plant and Equipment

A summary of property, plant and equipment for Greystone is as follows:

	August 31, 2023			May 31, 2023
Production machinery and equipment	$	66,846,425		$	66,068,625
Plant buildings and land		2,364,089			2,364,089
Leasehold improvements		1,598,738			1,553,138
Furniture and fixtures		542,057			542,057
		71,351,309			70,527,909
Less: Accumulated depreciation and amortization		(38,738,203	)		(37,343,203	)
Net Property, Plant and Equipment	$	32,613,106		$	33,184,706

Production machinery includes deposits on equipment in the amount of $520,071 as of August 31, 2023, which has not been placed into service.

Depreciation expense, including amortization expense related to financing leases, for the three months ended August 31, 2023 and 2022 was $1,395,000 and $1,369,312, respectively.