Leases (Tables)

9 Months Ended

Feb. 28, 2023

Leases

Schedule of Financing Lease

Financing leases as of February 28, 2023 and May 31, 2022:

	February 28, 2023			May 31, 2022
Non-cancellable financing leases	$	69,337		$	2,163,043
Less: Current portion		(41,487	)		(1,630,895	)
Non-cancellable financing leases, net of current portion	$	27,850		$	532,148

Summary of Lease Activity

For the periods ending February 28, 2023 and 2022:

	2023			2022
Lease Expense
Financing lease expense -
Amortization of right-of-use assets	$	189,927		$	721,923
Interest on lease liabilities		30,614			119,000
Operating lease expense		335,378			53,411
Short-term lease expense		1,217,095			1,101,133
Total	$	1,773,014		$	1,995,467
Other Information
Cash paid for amounts included in the measurement of lease liabilities for finance leases -
Operating cash flows	$	30,614		$	119,000
Financing cash flows	$	626,329		$	1,248,371
Cash paid for amounts included in the measurement of lease liabilities for operating leases -
Operating cash flows	$	335,378		$	53,411
Right-of-use assets obtained in exchange for lease liabilities -
Financing leases	$	-		$	24,441
Operating leases	$	5,516,006		$	-
Weighted-average remaining lease term (in years) -
Financing leases		1.9			1.5
Operating leases		14.4			1.9
Weighted-average discount rate -
Financing leases		4.4	%		7.3	%
Operating leases		6.0	%		5.4	%

Schedule of Future Minimum Lease Payments

Future minimum lease payments under non-cancelable leases as of February 28, 2023, are approximately:

	Financing Leases		Operating Leases
Twelve months ended February 29, 2024	$	42,185	$	561,947
Twelve months ended February 28, 2025		22,440		543,612
Twelve months ended February 28, 2026		7,811		534,000
Twelve months ended February 28, 2027		-		534,000
Twelve months ended February 29, 2028		-		549,610
Thereafter		-		5,420,290
Total future minimum lease payments		72,436		8,143,459
Present value discount		3,099		2,740,690
Present value of minimum lease payments	$	69,337	$	5,402,769