Leases (Tables)

9 Months Ended

Feb. 29, 2020

Leases [Abstract]

Schedule of Financing Lease

Financing leases as of February 29, 2020 and May 31, 2019:

	February 29, 2020			May 31, 2019
Present value of non-cancellable financing leases	$	5,922,843		$	6,754,819
Less: Current portion		(2,146,923	)		(1,516,629	)
Present value of non-cancellable financing leases, net of current portion	$	3,775,920		$	5,238,190

Schedule of Lease Cost

For the nine months ended February 29(28), 2020 and 2019:

	2020			2019
Lease Expense
Financing lease expense -
Amortization of right-of-use assets	$	653,942		$	775,530
Interest on lease liabilities		355,692			236,875
Operating lease expense		63,185			36,000
Short-term lease expense		1,207,008			1,136,617
Total	$	2,279,827		$	2,185,022
Other Information
Cash paid for amounts included in the measurement of lease liabilities for finance leases -
Operating cash flows	$	355,692		$	236,875
Financing cash flows	$	1,487,489		$	644,677
Cash paid for amounts included in the measurement of lease liabilities for operating leases -
Operating cash flows	$	63,185		$	36,000
Right-of-use assets obtained in exchange for lease liabilities -
Financing leases	$	612,124		$	4,667,380
Operating leases	$	67,750		$	-
Weighted-average remaining lease term (in years) -
Financing leases		3.6			3.1
Operating leases		3.0			2.8
Weighted-average discount rate -
Financing leases		7.1	%		7.2	%
Operating leases		5.2	%		5.0	%

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancelable leases as of February 29, 2020, are approximately:

	Financing Leases		Operating Leases
Twelve months ended February 28, 2021	$	2,513,000	$	81,881
Twelve months ended February 28, 2022		2,395,000		73,881
Twelve months ended February 28, 2023		1,552,000		33,881
Twelve months ended February 29, 2024		149,000		23,154
Twelve months ended February 28, 2025		20,000		-
Total future minimum lease payments		6,629,000		212,797
Present value discount		706,157		13,144
Present value of minimum lease payments	$	5,922,843	$	199,653