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Concentrations | 6 Months Ended
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Nov. 30, 2024
Risks and Uncertainties [Abstract] |
Concentrations | Note 12 – Concentrations Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade accounts receivable and cash deposits, investments and cash equivalents instruments. The Company maintains its cash in bank deposits accounts. The Company’s account at this institution is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At November 30, 2024 and May 31, 2024, the Company held cash of approximately $4,463,897 and $3,003,876, respectively, in excess of federally insured limits. The Company has not experienced any losses in such accounts through November 30, 2024. Concentration of Revenue, Accounts Receivable, Product Line, and Supplier The Company predominantly sells the products direct-to-consumer. There was no single customer that accounted for greater than 10% of consolidated net sales for the three and six months ended November 30, 2024 and 2023. During the three months ended November 30, 2024, approximately 90.2% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). During the three months ended November 30, 2023, approximately 94.6% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). All Company assets are located in the U.S. During the six months ended November 30, 2024, approximately 91.2% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). During the six months ended November 30, 2023, approximately 93.9% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). As of November 30, 2024, accounts receivable from customers that accounted for more than 10% of sales transactions were from one customer amounting to 14.5%. As of May 31, 2024, no single customer accounted for more than 10% of accounts receivable. Manufacturing is outsourced primarily overseas via a number of third-party vendors. The two largest vendors accounted for 73.2% and 15.9%, respectively, of all purchases for the three months ended November 30, 2024. For the three months ended November 30, 2023, the largest vendor accounted for 82.7% of all purchases. For the six months ended November 30, 2024, the two largest vendors accounted for 61.8% and 26.0%, respectively, of all purchases. For the six months ended November 30, 2023, the largest vendor accounted for 86.7% of all purchases.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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