Quarterly report pursuant to Section 13 or 15(d)

3. PROPERTY AND EQUIPMENT

v3.21.1
3. PROPERTY AND EQUIPMENT
9 Months Ended
Feb. 28, 2021
Notes  
3. PROPERTY AND EQUIPMENT

3. PROPERTY AND EQUIPMENT 

 

Major classifications of property and equipment are summarized below as of February 28, 2021 and May 31, 2020.

 

 

 

February 28,

2021

 

May 31,

2020

 

 

(Unaudited)

 

 

Furniture and fixtures

$

73,983

$

68,685

Computer equipment

 

99,989

 

78,743

Software

 

24,414

 

24,414

Leasehold improvements

 

27,145

 

27,146

 

 

225,531

 

198,988

Less: accumulated depreciation

 

(43,082)

 

-

 

$

182,449

$

198,988

 

Depreciation expense charged to income for the three and nine months ended February 28, 2021 amounted to $14,439 and $43,082, respectively. The Company did not incur depreciation expense for the period October 28, 2019 (inception) through February 29, 2020.