XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Aug. 31, 2020
Aug. 31, 2019
Cash flows from operating activities:    
Net loss $ (1,649,415) $ (506,296)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 32,570 35,278
Change in provision for allowance on accounts receivable 201,375 (6,967)
Inventory reserve 5,005 2,320
Stock option expense 3,808 5,850
Reduction in deferred rent liability (37,971)
Amortization of right-of-use asset 57,257 102,456
Changes in assets and liabilities:    
Accounts receivable (18,924) 603,107
Inventories (1,255,573) (57,568)
Prepaid expenses and other assets 1,038,149 (41,165)
Reduction in lease liability (49,880) (54,796)
Other assets (276,438)
Accounts payable and accrued expenses 284,202 (55,718)
Accrued compensation 30,718 3,316
Net cash used in operating activities (1,597,146) (8,154)
Cash flows from investing activities:    
Increase in intangibles (53,158) (12,100)
Purchases of property and equipment (39,588) (2,171)
Net cash used in investing activities (92,746) (14,271)
Cash flows from financing activities:    
Proceeds from sale of common stock, net 112,608
Proceeds from exercise of stock options 14,900 34,028
Net cash provided by financing activities 14,900 146,636
Effect of exchange rate changes in cash (1,721) (3,442)
Net (decrease) increase in cash and cash equivalents (1,676,713) 120,769
Cash and cash equivalents at beginning of period 8,641,027 686,785
Cash and cash equivalents at end of period 6,964,314 807,554
Cash paid during the period for:    
Interest
Income taxes 1,125
Non-cash investing and financing activities:    
Establishment of Right-Of-Use Asset per ASC 842 1,942,999
Establishment of Lease Liability per ASC 842 $ 1,980,970