Long-Term Debt (Tables)

3 Months Ended

Aug. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Debt as of August 31, 2019 and May 31, 2019 is as follows:

	August 31, 2019			May 31, 2019
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	$	3,050,443		$	3,234,947
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		1,344,763			1,399,490
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		1,597,827			1,744,235
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		871,953			927,199
Term loan F payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 5.25%, maturing February 8, 2021		3,241,884			3,398,247
Term loan G payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 5.25%, maturing April 30, 2024		867,903			876,934
Term loan H payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 5.25%, maturing January 1, 2022		627,746			-
Revolving loan payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 5.5%, due January 31, 2021		2,923,000			3,205,000
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, secured by production equipment		721,581			800,488
Term loan payable by GRE to International Bank of Commerce, interest rate of 5.5%, monthly principal and interest payment of $27,688, due April 30, 2023		2,412,412			2,461,116
Note payable to Robert Rosene, 7.5% interest, due January 15, 2021		4,383,429			4,426,631
Other		212,127			223,177
Total long-term debt		22,255,068			22,697,464
Debt issuance costs, net of amortization		(39,756	)		(37,686	)
Total debt, net of debt issuance costs		22,215,312			22,659,778
Less: Current portion of long-term debt		(3,385,019	)		(3,030,630	)
Long-term debt, net of current portion	$	18,830,293		$	19,629,148