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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Cash Flows from Operating Activities:    
Net income $ 1,293,283 $ 679,899
Adjustments to reconcile net income to net cash provided by operating activities -    
Depreciation and amortization 3,334,730 2,578,842
Deferred tax expense 486,300 882,100
Loss on sale of asset 7,932
Decrease in trade accounts receivable 708,876 2,486,180
Decrease in related party receivables 33,347 18,498
Increase in inventory (2,062,150) (2,501,222)
Decrease (increase) in prepaid expenses (23,931) 30,470
Increase (decrease) in accounts payable and accrued liabilities 1,943,133 (2,778,406)
Increase (decrease) in deferred revenue (751,827) 4,595,034
Net cash provided by operating activities 4,961,761 5,999,327
Cash Flows from Investing Activities:    
Purchase of property and equipment (6,380,490) (3,768,337)
Proceeds from sale of equipment 968,168 3,000
Net cash used in investing activities (5,412,322) (3,765,337)
Cash Flows from Financing Activities:    
Proceeds from long-term debt 3,756,800 2,320,200
Principal payments on long-term debt and capitalized leases (3,567,629) (4,371,488)
Proceeds from revolving loan 4,321,000 240,000
Principal payments on revolving loan (2,750,000)
Principal payments on related party note payable and capital lease (233,302) (172,999)
Dividends paid on preferred stock (208,045) (313,288)
Distributions paid by non-controlling interest (153,000) (181,400)
Net cash provided by (used in) financing activities 1,165,824 (2,478,975)
Net Increase (Decrease) in Cash 715,263 (244,985)
Cash, beginning of period 379,632 579,021
Cash, end of period 1,094,895 334,036
Non-cash Activities:    
Acquisition of equipment by capital lease 4,667,380 1,998,500
Capital expenditures in accounts payable 38,445
Revolver loan converted to term loan 2,500,000
Preferred dividend accrual 108,219
Supplemental information:    
Interest paid 1,394,789 993,994
Taxes paid $ 10,000