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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Nov. 30, 2022
May 31, 2022
Current Assets:    
Cash and cash equivalents $ 5,066,521 $ 5,916,983
Accounts receivable, less allowance for doubtful accounts of $522,234 and $153,231 as of November 30, 2022 and May 31, 2022, respectively 850,014 773,818
Inventories, net of inventory reserves of $773,916 and $845,549 as of November 30, 2022 and May 31, 2022, respectively 2,061,444 2,416,447
Prepaid expenses and other 120,721 320,283
Total current assets 8,098,700 9,427,531
Property and equipment, net of accumulated depreciation and amortization of $1,317,141 and $1,305,360 as of November 30, 2022 and May 31, 2022, respectively 236,719 214,487
Right of use assets, net of accumulated amortization of $859,269 and $724,802 as of November 30, 2022 and May 31, 2022, respectively 1,169,456 1,301,834
Investments 165,324 165,324
Intangible assets, net of accumulated amortization of $24,327 and $18,994 as of November 30, 2022 and May 31, 2022, respectively 157,694 169,516
Other assets 79,654 95,588
Total Assets 9,907,547 11,374,280
Current Liabilities:    
Accounts payable and accrued expenses 670,074 972,372
Accrued compensation 697,179 646,944
Advance from customers 49,013 50,670
Lease liability, current portion 346,937 341,296
Total current liabilities 1,763,203 2,011,282
Lease liability, net of current portion 901,449 1,038,284
Total Liabilities 2,664,652 3,049,566
Commitments and contingencies (Notes 5 and 6)
Common stock, $0.08 par value, 25,000,000 shares authorized, 13,479,413 and 12,867,924 issued and outstanding at November 30, 2022 and May 31, 2022, respectively 1,078,353 1,029,432
Additional paid-in-capital 45,035,298 42,446,597
Accumulated other comprehensive loss (95,413) (73,936)
Accumulated deficit (38,775,343) (35,077,379)
Total Shareholders' Equity 7,242,895 8,324,714
Total Liabilities and Shareholders' Equity $ 9,907,547 $ 11,374,280