Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Details Narrative)

v3.22.1
COMMITMENTS AND CONTINGENCIES (Details Narrative) - ULHK Entities [Member]
9 Months Ended
Feb. 28, 2022
USD ($)
Restructuring Cost and Reserve [Line Items]  
Acquisition purchase price payable term pending the event that ULHK Entities EBITDA exceeds $5,000,000 for the calendar year of 2022. Should ULHK Entities EBITDA be less than $5,000,000 but more than $4,500,000 for the 2022 calendar year, the Earn-Out Payment will be adjusted to $2,000,000. No Earn-Out will be paid if the EBITDA of the ULHK Entities is less than $4,500,000 for the 2022 calendar year.
Securities Purchase Agreement [Member]  
Restructuring Cost and Reserve [Line Items]  
Acquisition description the Company’s purchase from ULHK of (i) 65% of the capital stock of Unique Logistics International India (Private) Ltd.; (ii) 50% of the capital stock of ULI (North & East China) Company Limited; (iii) 50% of the capital stock of Unique Logistics International (Shanghai) Co. Ltd; (iv) 50% of the capital stock of ULI International Co. Ltd.; (v) 49.99% of TGF Unique Limited; (vi) 100% of the capital stock of Unique Logistics International (H.K.) Limited; (vii) 65% of the capital stock of Unique Logistics International (Vietnam) Co. Ltd.; (viii) 70% of the capital stock of ULI (South China) Limited; (ix) 100% of the capital stock of Unique Logistics International (South China) Ltd.; and (x) 100 of the capital stock of Shenzhen Unique Logistics Limited (collectively the “ULHK Entities”).
Acquisition purchase price payable term pending The initial purchase price, subject to adjustment, to be paid for the ULHK Entities is $22,000,000 payable as follows (i) $21,000,000 payable at closing (ii) $1,000,000 in the form of a zero interest 24-month promissory note.
Acquistion initial purchase price $ 22,000,000
Acquistion purchase price payable at closing 21,000,000
Amount payable in zero interest 24 month promissory notes 1,000,000
Earn out payment $ 2,500,000
Earn out payment payable date Mar. 31, 2023