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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
May 31, 2022
May 31, 2021
Cash flows from operating activities:    
Net loss $ (4,531,044) $ (7,446,254)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 339,096 138,267
Loss on disposal of property and equipment 52,587
Provision for allowance on accounts receivable (684,184) 766,434
Inventory reserve (771,736) 1,550,594
Stock option expense 1,260,195 1,354,609
Amortization of right-of-use asset 255,725 237,588
Changes in assets and liabilities:    
Accounts receivable 1,365,417 (455,614)
Inventories 1,561,544 (1,906,013)
Prepaid expenses and other 50,007 1,138,793
Reduction in lease liability (244,412) (241,132)
Other assets 168,563 (95,958)
Accounts payable and accrued expenses 388,992 (403,331)
Accrued compensation 258,048 110,269
Advance from customers 50,670
Net cash used in operating activities (480,532) (5,251,748)
Cash flows from investing activities:    
Expenditure related to intangibles (113,436) (159,727)
Purchases of property and equipment (56,900) (135,856)
Net cash used in investing activities (170,336) (295,583)
Cash flows from financing activities:    
Gross proceeds from sale of common stock 2,401,734 1,177,394
Costs from sale of common stock (84,574) (165,919)
Proceeds from exercise of stock options 77,360 102,255
Net cash provided by financing activities 2,394,520 1,113,730
Effect of exchange rate changes in cash (25,980) (8,115)
Net increase (decrease) in cash and cash equivalents 1,717,672 (4,441,716)
Cash and cash equivalents at beginning of year 4,199,311 8,641,027
Cash and cash equivalents at end of year 5,916,983 4,199,311
Cash paid during the year for:    
Income taxes 23,719 27,171
Non-cash investing and financing activities:    
Increase in right-of-use asset due to lease extension or establishment 4,478 79,159
Increase in lease liability due to lease extension or establishment 4,478 79,159
Write off of fixed assets, cost 819,931
Write off of fixed assets, accumulated depreciation 767,344
Write off of intangible assets, cost 246,756
Write off of intangible assets, accumulated amortization $ 37,221