v3.21.2
Consolidated Balance Sheets - USD ($)
May 31, 2021
May 31, 2020
Current Assets:    
Cash and cash equivalents $ 252,615 $ 1,349,363
Accounts receivable - trade, net 20,369,747 7,932,310
Contract assets 23,423,314 4,837,008
Factoring reserve 7,593,665 970,724
Other prepaid expenses and current assets 761,458 91,671
Total current assets 52,400,799 15,181,076
Property and equipment - net 192,092 198,988
Other long-term assets:    
Goodwill 4,463,129 4,773,584
Intangible assets - net 8,044,853 8,752,000
Operating lease right-of-use assets - net 3,797,527 4,770,280
Deposits and other assets 555,362 292,404
Other long-term assets 16,860,871 18,588,268
Total assets 69,453,762 33,968,332
Current Liabilities:    
Accounts payable - trade 38,992,846 9,591,780
Accrued expenses and other current liabilities 2,383,915 3,619,216
Accrued freight 10,403,430 3,477,380
Current portion of notes payable - net of discount 2,285,367 1,476,642
Current portion of long-term debt due to related parties 397,975 6,380,975
Current portion of operating lease liability 1,466,409 1,288,216
Total current liabilities 55,929,942 25,834,209
Other long-term liabilities 565,338 848,010
Long-term-debt due to related parties, net of current portion 715,948 193,328
Notes payable, net of current portion - net of discount 3,193,306 2,494,420
Operating lease liability, net of current portion 2,431,144 3,482,064
Total long-term liabilities 6,905,736 7,017,822
Total liabilities 62,835,678 32,852,031
Commitments and contingencies
Stockholders' Equity:    
Common stock, $0.001 par value; 800,000,000 shares authorized; 393,742,663 and 0 shares issued and outstanding as of May 31, 2021 and 2020, respectively 393,743
Additional paid-in capital 4,906,384 1,523,811
Retained earnings (accumulated deficit) 1,316,987 (408,510)
Total Stockholders' Equity 6,618,084 1,116,301
Total Liabilities and Stockholders' Equity 69,453,762 33,968,332
Series A Preferred Stock [Member]    
Stockholders' Equity:    
Preferred Stock, Value 130 130
Series B Preferred Stock [Member]    
Stockholders' Equity:    
Preferred Stock, Value $ 840 $ 870

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