Note 4 - Property, Plant and Equipment

6 Months Ended

Nov. 30, 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 is as follows:

	November 30, 2023			May 31, 2023
Production machinery and equipment	$	67,506,545		$	66,068,625
Plant buildings and land		2,364,089			2,364,089
Leasehold improvements		1,632,363			1,553,138
Furniture and fixtures		542,057			542,057
		72,045,054			70,527,909
Less: Accumulated depreciation and amortization		(40,171,754	)		(37,343,203	)
Net Property, Plant and Equipment	$	31,873,300		$	33,184,706

Production machinery includes deposits on equipment in the amount of $609,707 as of November 30, 2023, which has not been placed into service.

Depreciation expense, including amortization expense related to financing leases, for the six months ended November 30, 2023 and 2022 was $2,828,552 and $2,719,312, respectively.