Note 11 - Concentrations, Risks and Uncertainties

6 Months Ended

Nov. 30, 2023

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

Note 11. Concentrations, Risks and Uncertainties

Greystone derived approximately 83% and 73% of its total sales from three customers during the six months ended November 30, 2023 and 2022, respectively. The loss of a material amount of business from one or more of these customers could have a material adverse effect on Greystone.

Greystone purchases damaged pallets from its customers at a price based on the value of the raw material content in the pallet. A majority of these purchases, totaling $470,648 for the six months ended November 30, 2023 and $313,050 for the six months ended November 30, 2022, were from one of its major customers.

Greystone is subject to litigation, claims and other commitments and contingencies arising in the ordinary course of business. Although the asserted value of these matters may be significant, the company currently does not expect that the ultimate resolution of any open matters will have a material adverse effect on its consolidated financial position or results of operations.