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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
May 31, 2021
May 31, 2020
Cash flows from operating activities:    
Net loss $ (7,446,254) $ (2,677,171)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 138,267 129,172
Change in allowance on accounts receivable 766,434 (2,129)
Inventory reserve 1,550,594 17,714
Stock option expense 1,354,609 538,587
Reduction in deferred rent liability (37,971)
Amortization of right-of-use asset 237,588 269,460
Changes in assets and liabilities:    
Accounts receivable (455,614) (309,090)
Inventories (1,906,013) (717,460)
Prepaid expenses 1,138,793 (1,306,681)
Reduction in lease liability (241,132) (199,483)
Other assets (95,958) (41,361)
Accounts payable and accrued expenses (403,331) (12,883)
Accrued compensation 110,269 51,798
Net cash used in operating activities (5,251,748) (4,297,498)
Cash flows from investing activities:    
Increase in intangibles (159,727) (85,319)
Purchases of property and equipment (135,856) (33,608)
Net cash used in investing activities (295,583) (118,927)
Cash flows from financing activities:    
Proceeds from sale of common stock, net 1,011,475 10,232,857
Proceeds from sale of convertible preferred stock, net 1,917,586
Proceeds from exercise of stock options 102,255 223,534
Net cash provided by financing activities 1,113,730 12,373,977
Effect of exchange rate changes in cash (8,115) (3,310)
Net (decrease) increase in cash and cash equivalents (4,441,716) 7,954,242
Cash and cash equivalents at beginning of year 8,641,027 686,785
Cash and cash equivalents at end of year 4,199,311 8,641,027
Cash paid during the year for:    
Interest 367 9
Income taxes 27,171 7,390
Non-cash investing and financing activities:    
Increase in right of use asset due to lease extension or establishment 79,159 1,942,999
Increase in lease liability due to lease extension or establishment $ 79,159 $ 1,980,970