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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Cash Flows from Operating Activities:    
Net income $ 3,056,926 $ 1,293,283
Adjustments to reconcile net income to net cash provided by operating activities -    
Depreciation and amortization 3,915,774 3,334,730
Deferred tax expense 807,000 486,300
Decrease in trade accounts receivable 447,228 708,876
Decrease (Increase) in related party receivables (79,014) 33,347
Increase in inventory (1,255,108) (2,062,150)
Decrease (Increase) in prepaid expenses 209,453 (23,931)
Increase (Decrease) in accounts payable and accrued liabilities (1,278,393) 1,943,133
Increase (Decrease) in deferred revenue 3,739,526 (751,827)
Net cash provided by operating activities 9,563,392 4,961,761
Cash Flows from Investing Activities:    
Purchases of property and equipment (3,686,791) (6,380,490)
Proceeds from sale of equipment 968,168
Net cash used in investing activities (3,686,791) (5,412,322)
Cash Flows from Financing Activities:    
Proceeds from long-term debt 672,000 3,756,800
Principal payments on long-term debt and financing leases (3,679,145) (3,567,629)
Proceeds from revolving loan 2,180,000 4,321,000
Principal payments on revolving loan (4,295,000) (2,750,000)
Principal payments on related party note payable and financing lease (359,212) (233,302)
Payments for debt issuance costs (3,360)
Dividends paid on preferred stock (327,192) (208,045)
Distributions paid by non-controlling interest (163,200) (153,000)
Net cash provided by (used in) financing activities (5,975,109) 1,165,824
Net Increase (Decrease) in Cash (98,508) 715,263
Cash, beginning of period 1,255,408 379,632
Cash, end of period 1,156,900 1,094,895
Non-cash Activities:    
Acquisition of equipment by capital leases 612,124 4,667,380
Addition of right-to-use equipment by operating leases 67,750
Capital expenditures in accounts payable 92,945 38,445
Preferred dividend accrual 99,726 108,219
Supplemental information:    
Interest paid $ 1,327,149 $ 1,297,997