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Subsequent Event
12 Months Ended
May 31, 2019
Subsequent Events [Abstract]  
Subsequent Event

Note 16. SUBSEQUENT EVENT

 

On July 1, 2019, Greystone and IBC entered into the Tenth Amendment to the IBC Loan Agreement dated January 31, 2014 (the “Tenth Amendment”) whereby IBC made an additional term loan to Borrowers in the original principal amount of $672,000 (“Term Loan H”). Term Loan H has an interest rate of the prime rate of interest plus 0.5% but not less than 5.25% and a maturity date of January 1, 2022. The proceeds from Term Loan H will be used to acquire new production equipment.