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Accounts payable and accrued liabilities | 12 Months Ended
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May 31, 2021
Payables And Accruals [Abstract] |
Accounts payable and accrued liabilities |
1 7. | Accounts payable and accrued liabilities
Accounts payable and accrued liabilities comprised of:
|  | May 31, |  |  | May 31, |
|  | 2021 |  |  | 2020 |
Trade payables |  | $ | 57,706 |  |  | $ | 41,159 |
Accrued liabilities |  |  | 112,594 |  |  |  | 48,105 |
Accrued payroll and employment related taxes |  |  | 19,390 |  |  |  | — |
Income taxes payable |  |  | 14,764 |  |  |  | 4,651 |
Accrued interest |  |  | 148 |  |  |  | — |
Accrued legal settlement |  |  | — |  |  |  | 18,496 |
Other accruals |  |  | 8,211 |  |  |  | — |
|  | $ | 212,813 |  |  | $ | 112,411 |
As part of the reverse acquisition, (refer to Note 10 Business acquisitions and goodwill), the Company acquired a trademark and license agreement with Authentic Brands Group (“ABG”) for the use of the Prince trademark (“ABG Prince Agreement”). Under the ABG Prince Agreement, the Company pays a royalty on actual product sales in addition to a guaranteed minimum royalty payment of $375 on a quarterly basis until the maturity date of December 31, 2025.

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- References No definition available. + Details
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