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RELATED PARTY TRANSACTIONS
 12 Months Ended
May 31, 2023
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Related Party Notes Payable
See discussion below in Note 7 - Debt, regarding the Company's term loan agreement with B. Riley Commercial Capital, LLC and B. Riley Securities, Inc, both wholly-owned subsidiaries of B. Riley Financial, Inc. Bryant Riley, chairman of the board and co-chief executive officer, of B. Riley Financial, Inc. (Nasdaq: RILY), directly or indirectly through subsidiaries of RILY, held in excess of 5% of our then outstanding Common Stock beginning in April 2023. The following table illustrates the related party balances on this loan for the fiscal year ended May 31, 2023.

(in thousands)
DescriptionMay 31, 2023
Principal Outstanding$36,500 
Other long-term liabilities1,000 
Accrued Interest Payable81

Related Party Revenue

The Company has revenue transactions with two related party customers:

• Customer A is a subsidiary of an entity which is deemed to beneficially own over 5% of the Company's outstanding common stock.

•Customer B is 60% owned by an individual who is deemed to beneficially own over 5% of the Company's outstanding stock.

The following tables illustrate related party revenue for fiscal years ended ended May 31, 2023 and May 31, 2022.


(in thousands)Related Party Revenue for the Fiscal Year Ended
CustomerMay 31, 2023May 31, 2022
Customer A$8,007 $1,417 
Customer B$6,401 $1,268 

The following tables illustrate related party deferred revenue and deposits balances as of May 31, 2023 and May 31, 2022.

(in thousands)Customer A Balances as of
CaptionMay 31, 2023May 31, 2022
Deferred revenue$1,474 $692 
Customer Deposits$2,450 $2,059 
(in thousands)Customer B Balances as of
CaptionMay 31, 2023May 31, 2022
Deferred revenue$50 $262 
Customer Deposits$1,361 $1,171 

Related Party Sublease Income

For the fiscal years ending May 31, 2023 and May 31, 2022, the Company received sublease income from B. Riley Asset Management, which is also a wholly-owned subsidiary of B. Riley Financial, Inc. Mr. Cummins, the CEO of the Company, is also the President of B. Riley Asset Management.

(in thousands)
DescriptionMay 31, 2023May 31, 2022
Sublease Income$84 $80