As of February 28, 2022
	Historical As Reported			Transaction Accounting Adjustments				Pro Forma
ASSETS
Current assets
Cash and cash equivalents	$	1,999,241		$	3,268,537		(a)	$	5,267,778
Accounts receivable, net		936,809			—				936,809
Inventories		2,191,844			—				2,191,844
Prepaid expenses		30,867			—				30,867
Income tax receivable		17,730			—				17,730
Total current assets		5,176,491			3,268,537				8,445,028
Leasehold assets		11,423,035			837,023		(b)		12,260,058
Property and equipment, net		2,248,500			—				2,248,500
Property and equipment held for sale, net		433,410			(433,410	)	(c)		—
Leasehold, utilities, and ERP deposits		829,001			—				829,001
Other assets
Intangible assets, net		242,088			—				242,088
TOTAL ASSETS	$	20,352,525		$	3,672,150			$	24,024,675
LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable	$	555,974		$	—			$	555,974
Accrued commissions		59,208			—				59,208
Accrued payroll liabilities		505,248			—				505,248
Accrued liabilities		329,492			—				329,492
Customer deposits and prepayments		112,791			—				112,791
Other accrued liabilities		424,799			—				424,799
Current portion of long-term lease liabilities		1,417,386			140,108		(b)		1,557,494
Current portion of long-term debt		472,431			—				472,431
Total current liabilities		3,877,329			140,108				4,017,437
Long-term debt		1,527,569			—				1,527,569
Long-term leasehold liabilities		10,833,399			696,915		(b)		11,530,314
Long-term deferred tax liability		—			—				—
Total liabilities		16,238,297			837,023				17,075,320
Stockholders' equity
Common stock, no par value, 20,000,000 shares authorized, 4,236,821 and 3,818,770 shares issued and outstanding at February 28, 2022, respectively; and 4,204,553 and 3,786,502 shares issued and outstanding at May 31, 2021, respectively		12,318,375			—				12,318,375
Accumulated deficit		(8,204,147	)		2,835,127		(d)		(5,369,020	)
Total stockholders' equity		4,114,228			2,835,127				6,949,355
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	20,352,525		$	3,672,150			$	24,024,675

(a) Adjustment to reflect cash consideration received in the transaction. 

(b) Adjustment to recognize operating lease right-of-use asset and operating lease liability for leaseback executed as part of the transaction. 

(c) Adjustment to derecognize the net assets sold in the transaction. 

(d) Adjustment to reflect the impact of the gain on sale and transaction costs.

	Year Ended May 31, 2021
	Historical As Reported			Transaction Accounting Adjustments				Pro Forma
Net sales	$	7,864,350		$	—			$	7,864,350
Cost of revenue		4,593,588			—				4,593,588
Gross profit		3,270,762			—				3,270,762
Operating expenses
General, administrative and sales		12,045,174			150,414		(a)		12,195,588
Impairment of intangible assets		903,422							903,422
Transaction costs		125,167							125,167
Research & development		83,130							83,130
Total operating expenses		13,156,893			150,414				13,307,307
Operating loss		(9,886,131	)		(150,414	)			(10,036,545	)
Gain on sale of property and equipment		—							—
Bargain purchase gain		1,138,808							1,138,808
Forgiveness of PPP loans		—							—
Interest income (expense), net		(19,038	)						(19,038	)
Other income (expense), net		273,023			(17,671	)	(b)		255,352
Income (loss) before income taxes		(8,493,338	)		(168,085	)			(8,661,423	)
Income tax provision (benefit) from continuing operations		(403,666	)		(46,423	)	(c)		(450,089	)
Net income (loss)	$	(8,089,672	)	$	(121,661	)		$	(8,211,333	)
Net income (loss) per common share:
Basic	$	(2.15	)					$	(2.18	)
Weighted average number of common shares, basic		3,765,783							3,765,783
Diluted		(2.15	)					$	(2.18	)
Weighted average number of common shares, diluted		3,765,783							3,765,783

(a) Adjustment to remove historical depreciation expense recognized on disposed assets and add operating lease expense under the leaseback. 

(b) Adjustment to remove historical lease income recognized. 

(c) Adjustment to reflect the tax effect of pro forma adjustments to income (loss) before taxes, at the estimated statutory rate of 27.6%. 

	Nine Months Ended February 28, 2022
	Historical As Reported			Transaction Accounting Adjustments				Pro Forma
Net sales	$	8,570,053		$	—			$	8,570,053
Cost of revenue		3,618,925			—				3,618,925
Gross profit		4,951,128			—				4,951,128
Operating expenses
General, administrative and sales		11,604,964			124,075		(a)		11,729,039
Impairment of intangible assets		—			—				—
Transaction costs		—			—				—
Research & development		25,616			—				25,616
Total operating expenses		11,630,580			124,075				11,754,655
Operating loss		(6,679,452	)		(124,075	)			(6,803,527	)
Gain on sale of property and equipment		4,598,095			—				4,598,095
Bargain purchase gain		—			—				—
Forgiveness of PPP loans		2,059,826			—				2,059,826
Interest income (expense), net		(37,811	)		—				(37,811	)
Other income (expense), net		323,589			(29,098	)	(b)		294,491
Income (loss) before income taxes		264,247			(153,173	)			111,074
Income tax provision (benefit) from continuing operations		14,618			(42,305	)	(c)		(27,687	)
Net income (loss)	$	249,629		$	(110,868	)		$	138,761
Net income (loss) per common share:
Basic	$	0.07						$	0.04
Weighted average number of common shares, basic		3,790,022							3,790,022
Diluted		0.07						$	0.04
Weighted average number of common shares, diluted		3,813,675							3,813,675

(a) Adjustment to remove historical depreciation expense recognized on disposed assets and add operating lease expense under the leaseback. 

(b) Adjustment to remove historical lease income recognized. 

(c) Adjustment to reflect the tax effect of pro forma adjustments to income (loss) before taxes, at the estimated statutory rate of 27.6%.