Note 6 - Long-term Debt (Tables)

3 Months Ended

Aug. 31, 2023

Notes Tables

Schedule of Long-Term Debt Instruments [Table Text Block]

	August 31,			May 31,
	2023			2023
Term loans dated July 29, 2022, payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.50%, maturing July 29, 2027	$	13,894,957		$	14,334,736
Revolving loan payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.50%, due July 29, 2024		-			1,500,000
Term loan payable to First Interstate Bank, interest rate of 3.70%, monthly principal and interest payments of $27,593, due March 19, 2025, secured by certain equipment		508,054			585,536
Term loan payable to First Interstate Bank, interest rate of 3.50%, monthly principal and interest payments of $5,997, due August 10, 2028, secured by certain real estate		748,410			759,639
Other		63,659			73,368
Total long-term debt		15,215,080			17,253,279
Debt issuance costs, net of amortization		(95,647	)		(84,022	)
Total debt, net of debt issuance costs		15,119,433			17,169,257
Less: Current portion of long-term debt		(2,260,829	)		(2,249,570	)
Long-term debt, net of current portion	$	12,858,604		$	14,919,687