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Financial risk management and financial instruments (Tables)

12 Months Ended

May 31, 2022

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, 2022 and 2021 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

			Level 1				Level 2				Level 3				May 31, 2022
Financial assets
Cash and cash equivalents			$	415,909			$	—			$	—			$	415,909
Convertible notes receivable				—				—				111,200				111,200
Equity investments measured at fair value				1,878				2,469				5,703				10,050
Financial liabilities
Warrant liability				—				—				(14,255	)			(14,255	)
Contingent consideration				—				—				(16,007	)			(16,007	)
APHA 24 Convertible debenture				—				—				(216,753	)			(216,753	)
Total recurring fair value measurements			$	417,787			$	2,469			$	(130,112	)		$	290,144

			Level 1				Level 2				Level 3				May 31, 2021
Financial assets
Cash and cash equivalents			$	488,466			—				—				$	488,466
Convertible notes receivable			—					2,485			—					2,485
Equity investments measured at fair value				9,251				2,934				5,500				17,685
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			$	(532,769	)		$	(29,633	)

Schedule of 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				Convertible
	Debt				Liability				Consideration				notes receivable				Total
Balance, May 31, 2021		(399,444	)			(78,168	)			(60,657	)			2,485				(535,784	)
Additions		—				—				—				170,799				170,799
Disposals		—				—				—				(1,580	)			(1,580	)
Unrealized gain (loss) on fair value		182,691				63,913				44,650				(60,504	)			230,750
Balance, May 31, 2022	$	(216,753	)		$	(14,255	)		$	(16,007	)		$	111,200			$	(135,815	)

Schedule of Estimated Fair Value of Convertible Debenture / Warrant Liability

The unrealized gain (loss) on fair value for the Convertible Debenture, warrant liability, contingent consideration and convertible notes payable are recognized in non-operating income (loss) and other comprehensive income for the convertible notes receivable using the following inputs:

Financial asset / financial liability		Valuation technique		Significant unobservable input		Inputs
APHA Convertible debentures		Black-Scholes		Volatility, expected life		70% 2.3 years
Warrant liability		Black-Scholes		Volatility, expected life		70% 3.6 years
Contingent consideration		Discounted cash flows		Discount rate		5%
Debt securities classified under available-for-sale method		Black-Scholes		Interest rate, conversion		20% 0% to 60%

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- Definition

Financial risk management and financial instruments.

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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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.

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