Property, Plant and Equipment

6 Months Ended

Nov. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 4. Property, Plant and Equipment

A summary of property, plant and equipment is as follows:

	November 30, 2020			May 31, 2020
Production machinery and equipment	$	51,262,623		$	51,637,883
Plant buildings and land		6,931,302			6,881,326
Leasehold improvements		1,428,281			1,323,535
Furniture and fixtures		601,586			601,586
		60,223,792			60,444,330
Less: Accumulated depreciation and amortization		(27,795,521	)		(26,301,923	)
Net Property, Plant and Equipment	$	32,428,271		$	34,142,407

Production machinery includes deposits on equipment in the amount of $207,160 at November 30, 2020, which has not been placed into service. Plant buildings and land include two properties which are owned by GRE, a variable interest entity (“VIE”) and have an aggregate net book value of $2,722,741 at November 30, 2020.

Depreciation expense, including amortization expense related to financing leases, for the six months ended November 30, 2020 and 2019 was $3,018,922 and $2,557,936, respectively.