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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Nov. 30, 2023
Nov. 30, 2022
Nov. 30, 2023
Nov. 30, 2022
Sales $ 15,597,036 $ 12,101,674 $ 33,010,707 $ 31,055,273
Cost of Sales 12,459,570 10,879,300 25,828,480 27,369,753
Gross Profit 3,137,466 1,222,374 7,182,227 3,685,520
Selling, General and Administrative Expenses 1,374,024 1,205,988 2,586,974 2,311,579
Operating Income 1,763,442 16,386 4,595,253 1,373,941
Other Income (Expense):        
Gain on deconsolidation of variable interest entity     0 569,997
Other income 1,554 683 3,153 6,318
Interest expense (330,170) (288,316) (672,361) (507,762)
Income before Income Taxes 1,434,826 (271,247) 3,926,045 1,442,494
Provision for Income Taxes 470,000 (84,000) 1,217,000 256,000
Net Income 964,826 (187,247) 2,709,045 1,186,494
Net Income Attributable to Non-controlling Interest     0 (49,599)
Preferred Dividends (146,472) (119,349) (292,671) (228,767)
Net Income Attributable to Common Stockholders 818,354 (306,596) 2,416,374 908,128
Income (Loss) before Income Taxes $ 1,434,826 $ (271,247) $ 3,926,045 $ 1,442,494
Net Income Per Share of Common Stock -        
Basic (in dollars per share) $ 0.03 $ (0.01) $ 0.09 $ 0.03
Diluted (in dollars per share) $ 0.03 $ (0.01) $ 0.08 $ 0.03
Weighted Average Shares of Common Stock Outstanding -        
Basic (in shares) 28,279,701 28,279,701 28,279,701 28,279,701
Diluted (in shares) 28,774,780 28,279,701 28,774,562 28,773,207
Sales $ 15,597,036 $ 12,101,674 $ 33,010,707 $ 31,055,273
Cost of Sales 12,459,570 10,879,300 25,828,480 27,369,753
Gross Profit 3,137,466 1,222,374 7,182,227 3,685,520
Selling, General and Administrative Expenses 1,374,024 1,205,988 2,586,974 2,311,579
Operating Income $ 1,763,442 $ 16,386 $ 4,595,253 $ 1,373,941