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Consolidated Balance Sheets - USD ($)
May 31, 2023
May 31, 2022
Current Assets:    
Cash and cash equivalents $ 9,719,000 $ 5,917,000
Accounts receivable, net 722,000 774,000
Inventories, net 2,056,000 2,416,000
Prepaid expenses and other 300,000 320,000
Total current assets 12,797,000 9,427,000
Property and equipment, net of accumulated depreciation and amortization 213,000 214,000
Right-of-use assets, net of accumulated amortization of $617,000 and $725,000 as of May 31, 2023 and 2022, respectively 1,035,000 1,302,000
Investments 165,000 165,000
Intangible assets, net of accumulated amortization 165,000 170,000
Other assets 79,000 96,000
Total Assets 14,454,000 11,374,000
Current Liabilities:    
Accounts payable and accrued expenses 892,000 972,000
Accrued compensation 696,000 647,000
Advance from customers 60,000 51,000
Lease liabilities, current portion 297,000 341,000
Total current liabilities 1,945,000 2,011,000
Lease liabilities, net of current portion 785,000 1,038,000
Total Liabilities 2,730,000 3,049,000
Commitments and contingencies (Note 9)
Shareholders’ Equity:    
Preferred stock, value
Common stock, $0.08 par value, 25,000,000 shares authorized, 16,821,646 and 12,867,924 issued and outstanding at May 31, 2023 and 2022, respectively 1,346,000 1,029,000
Additional paid-in-capital 52,705,000 42,447,000
Accumulated other comprehensive loss (110,000) (74,000)
Accumulated deficit (42,217,000) (35,077,000)
Total Shareholders’ Equity 11,724,000 8,325,000
Total Liabilities and Shareholders’ Equity 14,454,000 11,374,000
Series A Preferred Stock [Member]    
Shareholders’ Equity:    
Preferred stock, value