Long-Term Debt (Tables)

12 Months Ended

May 31, 2016

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consists of the following as of May 31:

	2016			2015
Term note A payable to International Bank of Commence, prime rate of interest plus 0.5% but not less than 4.0%, maturing January 7, 2019	$	5,310,179		$	-
Term note B payable to International Bank of Commence, prime rate of interest plus 0.5% but not less than 4.0%, maturing January 7, 2019		2,688,659			-
Term note payable to International Bank of Commerce, interest rate of 4.5%, refinanced January 7, 2016		-			6,945,884
Revolving note payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.0%, due January 31, 2018		1,675,000			300,000
Term note payable by GRE to International Bank of Commerce, interest rate of 4.5%, monthly principal and interest payments of $26,215, due January 31, 2019		3,021,734			3,207,553
Note payable to Robert Rosene, 7.5% interest, due January 15, 2018		2,066,000			2,066,000
Note payable to Yorktown Management & Financial Services, LLC, 5.0% interest, due February 28, 2019, monthly principal and interest payments of $20,629		634,616			-
Other		50,560			59,574
		15,446,748			12,579,011
Less: Current portion		(2,088,327	)		(2,278,164	)
Long-term debt	$	13,358,421		$	10,300,847