Long-Term Debt (Tables)

12 Months Ended

May 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

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

	2018			2017
Term loan A payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.0%, maturing April 30, 2023	$	3,945,443		$	4,626,191
Term loan B payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.0%, maturing January 7, 2019		-			1,715,132
Term loan C payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.0%, maturing August 4, 2020		1,613,445			-
Term loan D payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.75%, maturing January 10, 2022		2,314,935			-
Term loan E payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.75%, maturing January 10, 2022		843,200			-
Revolving loan payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.75%, due January 31, 2020		1,879,000			2,260,000
Term loan payable by GRE to International Bank of Commerce, interest rate of 4.5%, monthly principal and interest payments of $26,215, due April 30, 2023		2,652,428			2,841,285
Note payable to Robert Rosene, 7.5% interest, due January 15, 2020		4,469,355			4,469,355
Note payable to First Bank, prime rate of interest plus 1.45% but not less than 4.95%, monthly principal and interest payment of $30,628, due August 21, 2021		1,099,447			1,396,448
Note payable to Yorktown Management & Financial Services, LLC, 5.0% interest, due February 28, 2019, monthly principal and interest payments of $20,629		181,850			413,969
Other		252,493			310,036
Face value of long-term debt		19,251,596			18,032,416
Less: Debt issue costs, net of amortization		(91,370	)		(228,426	)
		19,160,226			17,803,990
Less: Current portion		(2,324,046	)		(2,493,236	)
Long-term debt	$	16,836,180		$	15,310,754