Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
9 Months Ended
Feb. 28, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

2. PROPERTY AND EQUIPMENT

 

Major classifications of property and equipment are summarized below:

 

    February 28, 2022     May 31, 2021  
             
Furniture and fixtures   $ 97,716     $ 84,085  
Computer equipment     146,493       108,479  
Software     30,609       27,780  
Leasehold improvements     27,146       27,146  
Property and equipment, gross     301,964       247,490  
Less: accumulated depreciation     (110,056 )     (55,398 )
Property and equipment, net   $ 191,908     $ 192,092  

 

Depreciation expense charged to income for the three months ended February 28, 2022 and 2021 amounted to $19,560 and $14,439. Depreciation expense charged to income for the nine months ended February 28, 2022 and 2021 amounted to $54,658 and $43,082.