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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Feb. 29, 2024
Feb. 28, 2023
Feb. 29, 2024
Feb. 28, 2023
Sales $ 13,980,009 $ 13,578,269 $ 46,990,716 $ 44,633,542
Cost of Sales 12,113,699 11,220,791 37,942,179 38,590,544
Gross Profit 1,866,310 2,357,478 9,048,537 6,042,998
Selling, General and Administrative Expenses 1,277,001 1,606,626 3,863,975 3,918,205
Operating Income 589,309 750,852 5,184,562 2,124,793
Other Income (Expense):        
Federal tax credits realized 0 3,270,424 0 3,270,424
Gain on deconsolidation of variable interest entity     0 569,997
Other income 176,851 183,596 180,004 189,914
Interest expense (310,231) (313,376) (982,592) (821,138)
Income before Income Taxes 455,929 3,891,496 4,381,974 5,333,990
Provision for Income Taxes 158,000 196,000 1,375,000 452,000
Net Income 297,929 3,695,496 3,006,974 4,881,990
Net Income Attributable to Non-controlling Interest     0 (49,599)
Preferred Dividends (146,473) (132,500) (439,144) (361,267)
Net Income Attributable to Common Stockholders $ 151,456 $ 3,562,996 $ 2,567,830 $ 4,471,124
Basic (in dollars per share) $ 0.01 $ 0.13 $ 0.09 $ 0.16
Diluted (in dollars per share) $ 0.01 $ 0.12 $ 0.09 $ 0.15
Basic (in shares) 28,279,701 28,279,701 28,279,701 28,279,701
Diluted (in shares) 28,775,156 32,104,265 28,774,701 32,105,424
Income Per Share of Common Stock -        
Basic (in dollars per share) $ 0.01 $ 0.13 $ 0.09 $ 0.16
Diluted (in dollars per share) $ 0.01 $ 0.12 $ 0.09 $ 0.15
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) 28,775,156 32,104,265 28,774,701 32,105,424
Sales $ 13,980,009 $ 13,578,269 $ 46,990,716 $ 44,633,542
Cost of Sales 12,113,699 11,220,791 37,942,179 38,590,544
Gross Profit 1,866,310 2,357,478 9,048,537 6,042,998
Selling, General and Administrative Expenses 1,277,001 1,606,626 3,863,975 3,918,205
Operating Income $ 589,309 $ 750,852 $ 5,184,562 $ 2,124,793