Long-Term Debt (Tables)

6 Months Ended

Nov. 30, 2019

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Debt as of November 30, 2019 and May 31, 2019 is as follows:

	November 30, 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	$	2,861,716		$	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, 2024		1,287,485			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		1,447,506			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		814,945			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		3,082,407			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		858,375			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		564,067			-
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		643,089			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		2,362,662			2,461,116
Note payable to Robert Rosene, 7.5% interest, due January 15, 2021		4,340,285			4,426,631
Other		200,934			223,177
Total long-term debt		21,386,471			22,697,464
Debt issuance costs, net of amortization		(38,466	)		(37,686	)
Total debt, net of debt issuance costs		21,348,005			22,659,778
Less: Current portion of long-term debt		(3,442,269	)		(3,030,630	)
Long-term debt, net of current portion	$	17,905,736		$	19,629,148