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Business Combination (Tables) | 3 Months Ended
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Aug. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of estimated fair value of the assets acquired |
Schedule of estimated fair value of the assets acquired |  |  |
Cash |  | $ | 1,066,414 |
Accounts receivable |  |  | 227,786 |
Inventory |  |  | 1,342,461 |
Prepaid expenses |  |  | 62,452 |
Other assets |  |  | 108,030 |
Accounts payable |  |  | (285,665 | )
Contract liabilities |  |  | (1,043,332 | )
Other current liabilities |  |  | (79,826 | )
Net tangible assets acquired |  | $ | 1,398,320 |
Identifiable intangible assets |  |  |  |
Licensing rights |  | $ | 11,945 |
Customer relationships |  |  | 70,000 |
Tradenames |  |  | 275,000 |
Website |  |  | 100,000 |
Total Identifiable intangible assets |  | $ | 456,945 |
Consideration paid |  | $ | 4,007,480 |
Total net assets acquired |  |  | 1,855,265 |
Goodwill purchased |  | $ | 2,152,215 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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