v3.20.4
CONDENSED CONSOLIDATED BALANCE SHEETS (November 30, 2020 Unaudited) - USD ($)
Nov. 30, 2020
May 31, 2020
Current Assets:    
Cash and cash equivalents $ 3,532,960 $ 1,349,363
Accounts receivable - trade, net 27,427,464 7,932,310
Contract assets 12,199,516 4,837,008
Factoring reserve 8,255,173 970,724
Other prepaid expenses and current assets 82,005 91,671
Total current assets 51,497,118 15,181,076
Property and equipment - net 185,371 198,988
Other long-term assets:    
Goodwill 4,773,584 4,773,584
Intangible assets - net 8,398,426 8,752,000
Operating lease right-of-use assets - net 4,300,118 4,770,280
Deposits and other assets 512,362 292,404
Total other long-term assets 17,984,490 18,588,268
Total assets 69,666,979 33,968,332
Current Liabilities:    
Accounts payable - trade 37,120,279 9,591,780
Accrued expenses and other current liabilities 1,688,745 3,619,216
Accrued freight 10,358,076 3,477,380
Current portion of notes payable 858,333 858,333
Current portion of long-term debt due to related parties 6,385,311 6,380,975
Current portion of promissory notes 1,169,916 618,309
Convertible notes payable, net 1,273,212 0
Current portion of operating lease liability 1,383,251 1,288,216
Total current liabilities 60,237,123 25,834,209
Other long-term liabilities 706,674 848,010
Long-term-debt due to related parties, net of current portion 144,992 193,328
Notes payable, net of current portion 1,037,502 1,466,667
Promissory notes, net of current portion 626,146 1,027,753
Operating lease liability, net of current portion 2,970,933 3,482,064
Total long-term liabilities 5,486,247 7,017,822
Total liabilities 65,723,370 32,852,031
Stockholders' Equity:    
Common Stock, Value 357,830 0
Additional paid-in capital 3,170,273 1,523,811
Retained earnings (accumulated deficit) 414,536 (408,510)
Total Stockholders' Equity 3,943,609 1,116,301
Total Liabilities and Stockholders' Equity 69,666,979 33,968,332
Series A Preferred Stock    
Stockholders' Equity:    
Preferred Stock, Value 130 130
Series B Preferred Stock    
Stockholders' Equity:    
Preferred Stock, Value $ 840 $ 870