v3.20.2
Consolidated Balance Sheets - USD ($)
May 31, 2020
May 31, 2019
Current Assets    
Cash and cash equivalents $ 160,208 $ 1,540,158
Accounts receivable, net 127,653
Inventory 15,787
Prepaid expenses 5,588
Total Current Assets 309,236 1,540,158
Other Assets    
Goodwill 5,155,141 4,456,250
Intangible assets, net 2,141,374 1,528,441
Deferred brokerage fees 149,223
Property and equipment 232,733 117,231
Right of use asset, operating lease 490,984 100,146
Security deposit 14,885 12,317
Deferred financing costs 98,198
Total Other Assets 8,282,538 6,214,385
TOTAL ASSETS 8,591,774 7,754,543
Current Liabilities    
Accounts payable 126,716
Accrued expenses 1,421,842 691,940
Loan payable - related party 93,761
Convertible note payable 1,127,320 1,000,000
Note payable - related party 64,728
Operating lease obligation, current 151,867 32,045
Current portion of deferred revenues 3,795
Stock payable 75,000
Total Current Liabilities 2,971,268 1,817,746
Operating lease obligation, net of current portion 339,116 68,876
Deferred revenues, less current portion 365,718
Total Liabilities 3,676,102 1,886,622
Commitments and contingencies - Note 9
Stockholders' Equity    
Preferred stock - $0.0001 par value, 1,000,000 shares authorized; no shares issued and outstanding
Common stock - $0.0001 par value; 20,000,000 shares authorized; 7,988,975 and 7,003,975 shares issued and outstanding as of May 31, 2020 and May 31, 2019, respectively 799 700
Additional paid-in capital 11,131,404 9,442,027
Accumulated deficit (6,195,044) (3,574,806)
Subtotal 4,937,159 5,867,921
Non-controlling interest (21,487)
Total Stockholders' Equity 4,915,672 5,867,921
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 8,591,774 $ 7,754,543

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