Leases (Tables)

3 Months Ended

Aug. 31, 2019

Leases [Abstract]

Schedule of Financing Lease

Financing leases as of August 31, 2019 and May 31, 2019:

	August 31, 2019			May 31, 2019
Non-cancellable financing leases	$	6,335,642		$	6,754,819
Less: Current portion		(1,952,140	)		(1,516,629	)
Non-cancellable financing leases, net of current portion	$	4,383,502		$	5,238,190

Schedule of Lease Cost

For the periods ending August 31, 2019 and 2018:

	2019			2018
Lease Expense
Financing lease expense -
Amortization of right-of-use assets	$	208,157		$	208,245
Interest on lease liabilities		121,151			67,656
Operating lease expense		19,179			12,000
Short-term lease expense		368,611			342,819
Total	$	717,098		$	630,720
Other Information
Cash paid for amounts included in the measurement of lease liabilities for finance leases -
Operating cash flows	$	121,151		$	67,656
Financing cash flows	$	419,177		$	608,094
Cash paid for amounts included in the measurement of lease liabilities for operating leases -
Operating cash flows	$	19,179		$	12,000
Right-of-use assets obtained in exchange for lease liabilities -
Financing leases	$	-		$	2,333,333
Operating leases	$	67,750		$	-
Weighted-average remaining lease term (in years) -
Financing leases		3.2			3.2
Operating leases		3.4			3.3
Weighted-average discount rate -
Financing leases		7.5	%		6.9	%
Operating leases		5.2	%		5.0	%

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancelable leases as of August 31, 2019, are approximately:

	Financing Leases		Operating Leases
Twelve months ended August 31, 2020	$	2,355,000	$	81,881
Twelve months ended August 31, 2021		2,355,000		81,881
Twelve months ended August 31, 2022		1,889,000		49,881
Twelve months ended August 31, 2023		525,000		32,348
Twelve months ended August 31, 2024		-		12,910
Total future minimum lease payments		7,124,000		258,901
Present value discount		788,358		22,835
Present value of minimum lease payments	$	6,335,642	$	236,066