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Financial risk management and financial instruments (Tables) | 12 Months Ended
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May 31, 2021
Financial Risk Management And Financial Instruments [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of May 31, 2021 and 2020 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:
|  |  |  |  |  |  |  |  |  |  |  |  |  | May 31, |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | 2021 |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 488,466 |  |  | $ | — |  |  | $ | — |  |  | $ | 488,466 |
Convertible notes receivable |  |  | — |  |  |  | 2,485 |  |  |  | — |  |  |  | 2,485 |
Long-term investments |  |  | 9,251 |  |  |  | 2,934 |  |  |  | — |  |  |  | 12,185 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant liability |  |  | — |  |  |  | — |  |  |  | (78,168 | ) |  |  | (78,168 | )
Contingent consideration |  |  | — |  |  |  | — |  |  |  | (60,657 | ) |  |  | (60,657 | )
APHA 24 Convertible debenture |  |  | — |  |  |  | — |  |  |  | (399,444 | ) |  |  | (399,444 | )
Total recurring fair value measurements |  | $ | 497,717 |  |  | $ | 5,419 |  |  | $ | (538,269 | ) |  | $ | (35,133 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  | May 31, |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | 2020 |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 360,646 |  |  | $ | — |  |  | $ | — |  |  | $ | 360,646 |
Convertible notes receivable |  |  | — |  |  |  | 10,609 |  |  |  | — |  |  |  | 10,609 |
Long-term investments |  |  | 11,244 |  |  |  | 8,351 |  |  |  | — |  |  |  | 19,595 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
APHA 24 Convertible debenture |  |  | — |  |  |  | — |  |  |  | (196,405 | ) |  |  | (196,405 | )
Total recurring fair value measures |  | $ | 371,890 |  |  | $ | 18,960 |  |  | $ | (196,405 | ) |  | $ | 194,445 |
Schedule of Opening Balances of Assets and Liabilities Categorized Within Level 3 of Fair Value Hierarchy Measured at Fair Value on Recurring Basis | The opening balances of assets and liabilities categorized within Level 3 of the fair value hierarchy measured at fair value on a recurring basis are reconciled to the closing balances as follows:
|  | APHA 24 |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Convertible |  |  | Warrant |  |  | Contingent |  |  |  |  |
|  | debenture |  |  | liability |  |  | consideration |  |  | Total |
Closing balance May 31, 2020 |  | $ | (196,405 | ) |  | $ | — |  |  | $ | — |  |  | $ | (196,405 | )
Additions |  |  | — |  |  |  | (79,402 | ) |  |  | (58,959 | ) |  |  | (138,361 | )
Disposals |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Unrealized gain (loss) on fair value |  |  | (203,039 | ) |  |  | 1,234 |  |  |  | (1,698 | ) |  |  | (203,503 | )
Closing balance May 31, 2021 |  | $ | (399,444 | ) |  | $ | (78,168 | ) |  | $ | (60,657 | ) |  | $ | (538,269 | )
Schedule of Estimated Fair Value of Warrant Liability | The Company estimated the fair value of the warrant liability at May 31, 2021 at $12.59 per warrant using the Black Scholes pricing model (Level 3) with the following weighted-average assumptions:
Risk-free interest rate |  |  | 0.90 | %
Expected volatility |  |  | 70 | %
Expected term |  | 4.3 years |
Expected dividend yield |  |  | — | %
Strike price |  | $ | 5.95 |
Fair value of common stock |  | $ | 16.67 |
Financial asset / financial liability |  | Valuation technique |  | Significant unobservable input |  | Inputs
APHA Convertible debentures |  | Black-Scholes |  | Volatility, expected life |  | 70% 3 years
Warrant liability |  | Black-Scholes |  | Volatility, expected life |  | 70% 4 years
Contingent consideration |  | Discounted cash flows |  | Discount rate, achievement |  | 5% 100%
Schedule of Trade Receivables | Trade receivables included an allowance for doubtful accounts of $4,571 at May 31, 2021 (2020-$2,313), and is comprised of the following aged receivables:
|  | Total |  |  | 0-30 days |  |  | 31-60 days |  |  | 61-90 days |  |  | 90+ days |
Trade receivables |  | $ | 87,309 |  |  |  | 70,997 |  |  |  | 8,253 |  |  |  | 1,051 |  |  |  | 7,008 |
|  |  |  |  |  |  | 82 | % |  |  | 9 | % |  |  | 1 | % |  |  | 8 | %

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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