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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Aug. 31, 2020
May 31, 2020
Current Assets:    
Cash and cash equivalents $ 6,964,314 $ 8,641,027
Accounts receivable, less allowance for doubtful accounts of $272,356 and $70,981 as of August 31, 2020 and May 31, 2020, respectively 1,583,420 1,765,871
Inventories, net 4,101,404 2,850,836
Prepaid expenses and other 470,934 1,509,083
Total current assets 13,120,072 14,766,817
Property and Equipment, net of accumulated depreciation and amortization of $1,894,375 and $1,867,643 as of August 31, 2020 and May 31, 2020, respectively 292,235 279,379
Right of Use Assets, net of accumulated amortization of $288,746 and $231,489 as of August 31, 2020 and May 31, 2020, respectively 1,654,253 1,711,510
Investments 165,324 165,324
Intangible Assets, net of accumulated amortization of $501,962 and $496,124 as of August 31, 2020 and May 31, 2020, respectively 215,975 168,655
Other Assets 444,631 168,193
Total Assets 15,892,490 17,259,878
Current Liabilities:    
Accounts payable and accrued expenses 1,270,913 986,711
Accrued compensation 309,345 278,627
Lease liability, current portion 221,201 211,809
Total current liabilities 1,801,459 1,477,147
Lease Liability, net of current portion 1,510,406 1,569,678
Total Liabilities 3,311,865 3,046,825
Commitments and Contingencies (Notes 5 and 6)
Shareholders' Equity:    
Preferred stock, Series A 5% convertible, $0.08 par value, 571,429 shares authorized, 321,429 issued and outstanding at August 31, 2020 and May 31, 2020 and Preferred stock, undesignated, no par value,4,428,571 shares authorized, none issued and outstanding at August 31, 2020 and May 31, 2020 25,714 25,714
Common stock, $0.08 par value, 25,000,000 shares authorized, 11,752,589 and 11,740,089 issued and outstanding at August 31, 2020 and May 31, 2020, respectively 940,205 939,205
Additional paid-in-capital 35,231,415 35,213,707
Accumulated other comprehensive loss (41,562) (39,841)
Accumulated deficit (23,575,147) (21,925,732)
Total Shareholders' Equity 12,580,625 14,213,053
Total Liabilities and Shareholders' Equity 15,892,490 17,259,878
5% Convertible Preferred Stock [Member] | Series A Preferred Stock [Member]    
Shareholders' Equity:    
Preferred stock, Series A 5% convertible, $0.08 par value, 571,429 shares authorized, 321,429 issued and outstanding at August 31, 2020 and May 31, 2020 and Preferred stock, undesignated, no par value,4,428,571 shares authorized, none issued and outstanding at August 31, 2020 and May 31, 2020 25,714 25,714
Preferred Stock [Member]    
Shareholders' Equity:    
Preferred stock, Series A 5% convertible, $0.08 par value, 571,429 shares authorized, 321,429 issued and outstanding at August 31, 2020 and May 31, 2020 and Preferred stock, undesignated, no par value,4,428,571 shares authorized, none issued and outstanding at August 31, 2020 and May 31, 2020