Quarterly report pursuant to Section 13 or 15(d)

7. FINANCING ARRANGEMENTS: Notes Payable on the condensed consolidated balance sheets (Tables)

v3.21.1
7. FINANCING ARRANGEMENTS: Notes Payable on the condensed consolidated balance sheets (Tables)
9 Months Ended
Feb. 28, 2021
Tables/Schedules  
Notes Payable on the condensed consolidated balance sheets

 

 

 

February 28,

2021

 

May 31,

2020

 

 

(Unaudited)

 

 

Promissory notes (PPP Program)

$

-

$

1,646,062

Promissory notes (EIDL)

 

150,000

 

-

Notes payable

 

1,833,333

 

2,325,000

Convertible notes – net of discount

 

1,704,375

 

-

 

 

3,687,708

 

3,971,062

Less: current portion

 

(2,569,287)

 

(1,476,642)

 

$

1,118,421

$

2,494,420