Long-term Debt (Tables)

9 Months Ended

Feb. 28, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Debt as of February 28, 2023 and May 31, 2022 is as follows:

	February 28,			May 31,
	2023			2022
Term loan A dated July 29, 2022, payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.50%, maturing July 29, 2027	$	7,281,420		$	-
Term loan B dated July 29, 2022, payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.50%, maturing July 29, 2027		3,039,219			-
Term loans payable to International Bank of Commerce, prime rate of interest plus 0.5% with interest floors between 4.0% and 5.25%. These loans were refinanced by the IBC Restated Loan Agreement dated July 29, 2022, and rolled into Term Loan A above		-			2,870,169
Revolving loan payable to International Bank of Commerce, prime rate of interest plus 0.5% but not less than 4.5%, due July 29, 2024		3,000,000			3,700,000
Term loan payable by GRE to International Bank of Commerce, interest rate of 5.5%, paid off July 27, 2022		-			1,826,361
Term loan payable to First Interstate Bank, interest rate of 3.7%, monthly principal and interest payments of $27,593, due March 19, 2025, secured by certain equipment		662,485			888,642
Term loan payable to First Interstate Bank, interest rate of 3.5%, monthly principal and interest payments of $5,997, due August 10, 2028, secured by certain real estate		770,840			803,941
Note payable to Robert Rosene, 7.5% interest, paid off August 3, 2022		-			3,295,704
Other		83,010			111,374
Total long-term debt		14,836,974			13,496,191
Debt issuance costs, net of amortization		(96,583	)		(29,751	)
Total debt, net of debt issuance costs		14,740,391			13,466,440
Less: Current portion of long-term debt		(2,217,304	)		(4,160,403	)
Long-term debt, net of current portion	$	12,523,087		$	9,306,037