Long-Term Debt (Tables)

9 Months Ended

Feb. 29, 2020

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Debt as of February 29, 2020 and May 31, 2019 is as follows:

	February 29, 2020			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	$	2,664,063		$	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		1,228,697			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		1,293,713			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		756,372			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 29, 2024		2,919,586			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		848,448			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		499,585			-
Revolving loan payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 5.5%, due January 31, 2022		1 090,000			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		561,105			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		2,312,223			2,461,116
Note payable to Robert Rosene, 7.5% interest, due January 15, 2022		4,297,169			4,426,631
Other		189,246			223,177
Total long-term debt		18,660,207			22,697,464
Debt issuance costs, net of amortization		(37,176	)		(37,686	)
Total debt, net of debt issuance costs		18,623,031			22,659,778
Less: Current portion of long-term debt		(3,525,314	)		(3,030,630	)
Long-term debt, net of current portion and debt issue costs	$	15,097,717		$	19,629,148