XML 41 R27.htm IDEA: XBRL DOCUMENT
v3.21.2

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
--- | ---
May 31, 2021
Prior Period Adjustment [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] |
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Shareholders' Equity: |  |  |  |  |  |  |  |
Additional paid-in-capital | $ | 36,685,176 |  | $ | 2,151,567 |  | $ | 38,836,743
Accumulated deficit |  | (28,394,768) |  |  | (2,151,567) |  |  | (30,546,335)
Other Equity accounts |  | 936,615 |  |  | - |  |  | 936,615
Total Shareholders' Equity | $ | 9,227,023 |  | $ | - |  | $ | 9,227,023
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Shareholders' Equity: |  |  |  |  |  |  |  |
Additional paid-in-capital | $ | 35,213,707 |  | $ | 1,174,349 |  | $ | 36,388,056
Accumulated deficit |  | (21,925,732) |  |  | (1,174,349) |  |  | (23,100,081)
Other Equity accounts |  | 925,078 |  |  | - |  |  | 925,078
Total Shareholders' Equity | $ | 14,213,053 |  | $ | - |  | $ | 14,213,053
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Shareholders' Equity: |  |  |  |  |  |  |  |
Additional paid-in-capital | $ | 22,830,006 |  | $ | 836,232 |  | $ | 23,666,238
Accumulated deficit |  | (19,586,678) |  |  | (836,232) |  |  | (20,422,910)
Other Equity accounts |  | 737,642 |  |  | - |  |  | 737,642
Total Shareholders' Equity | $ | 3,980,970 |  | $ | - |  | $ | 3,980,970
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cost of sales | $ | 6,702,046 |  | $ | 130,696 |  | $ | 6,832,742
Gross Profit |  | 496,981 |  |  | (130,696) |  |  | 366,285
Operating Expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  | 4,608,950 |  |  | 785,575 |  |  | 5,394,525
Research and development |  | 2,410,506 |  |  | 60,947 |  |  | 2,471,453
Total operating expense |  | 7,019,456 |  |  | 846,522 |  |  | 7,865,978
Loss from operations |  | (6,522,475) |  |  | (977,218) |  |  | (7,499,693)
Loss before income taxes |  | (6,455,979) |  |  | (977,218) |  |  | (7,433,197)
Net loss | $ | (6,469,036) |  | $ | (977,218) |  | $ | (7,446,254)
Basic net loss per common share | $ | (0.54) |  | $ | (0.08) |  | $ | (0.62)
Diluted net loss per common share | $ | (0.54) |  | $ | (0.08) |  | $ | (0.62)
Comprehensive loss | $ | (6,477,151) |  | $ | (977,218) |  | $ | (7,454,369)
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cost of sales | $ | 4,910,935 |  | $ | 43,549 |  | $ | 4,954,484
Gross Profit |  | 1,781,776 |  |  | (43,549) |  |  | 1,738,227
Operating Expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  | 2,274,415 |  |  | 272,207 |  |  | 2,546,622
Research and development |  | 1,910,209 |  |  | 22,361 |  |  | 1,932,570
Total operating expense |  | 4,184,624 |  |  | 294,568 |  |  | 4,479,192
Loss from operations |  | (2,402,848) |  |  | (338,117) |  |  | (2,740,965)
Loss before income taxes |  | (2,331,664) |  |  | (338,117) |  |  | (2,669,781)
Net loss | $ | (2,339,054) |  | $ | (338,117) |  | $ | (2,677,171)
Basic net loss per common share | $ | (0.23) |  | $ | (0.03) |  | $ | (0.26)
Diluted net loss per common share | $ | (0.23) |  | $ | (0.03) |  | $ | (0.26)
Comprehensive loss | $ | (2,342,364) |  | $ | (338,117) |  | $ | (2,680,481)
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net loss | $ | (6,469,036) |  | $ | (977,218) |  | $ | (7,446,254)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Stock option expense |  | 377,391 |  |  | 977,218 |  |  | 1,354,609
Net cash used in operating activities |  | (5,251,748) |  |  | - |  |  | (5,251,748)
Cash and cash equivalents at end of year | $ | 4,199,311 |  | $ | - |  | $ | 4,199,311
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net loss | $ | (2,339,054) |  | $ | (338,117) |  | $ | (2,677,171)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Stock option expense |  | 200,470 |  |  | 338,117 |  |  | 538,587
Net cash used in operating activities |  | (4,297,498) |  |  | - |  |  | (4,297,498)
Cash and cash equivalents at end of year | $ | 8,641,027 |  | $ | - |  | $ | 8,641,027
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Shareholders' Equity: |  |  |  |  |  |  |  |
Additional paid-in-capital | $ | 35,231,415 |  | $ | 1,417,328 |  | $ | 36,648,743
Accumulated deficit |  | (23,575,147) |  |  | (1,417,328) |  |  | (24,992,475)
Other Equity accounts |  | 924,357 |  |  | - |  |  | 924,357
Total Shareholders' Equity | $ | 12,580,625 |  | $ | - |  | $ | 12,580,625
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cost of sales | $ | 960,930 |  | $ | 64,787 |  | $ | 1,025,717
Gross Profit |  | 182,876 |  |  | (64,787) |  |  | 118,089
Operating Expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  | 1,164,564 |  |  | 141,380 |  |  | 1,305,944
Research and development |  | 674,693 |  |  | 36,812 |  |  | 711,505
Total operating expense |  | 1,839,257 |  |  | 178,192 |  |  | 2,017,449
Loss from operations |  | (1,656,381) |  |  | (242,979) |  |  | (1,899,360)
Loss before income taxes |  | (1,648,290) |  |  | (242,979) |  |  | (1,891,269)
Net loss | $ | (1,649,415) |  | $ | (242,979) |  | $ | (1,892,394)
Basic net loss per common share | $ | (0.14) |  | $ | (0.02) |  | $ | (0.16)
Diluted net loss per common share | $ | (0.14) |  | $ | (0.02) |  | $ | (0.16)
Comprehensive loss | $ | (1,651,136) |  | $ | (242,979) |  | $ | (1,894,115)
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net loss | $ | (1,649,415) |  | $ | (242,979) |  | $ | (1,892,394)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Stock option expense |  | 3,808 |  |  | 242,979 |  |  | 246,787
Net cash used in operating activities |  | (1,597,146) |  |  | - |  |  | (1,597,146)
Cash and cash equivalents at end of period | $ | 6,964,314 |  | $ | - |  | $ | 6,964,314
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Shareholders' Equity: |  |  |  |  |  |  |  |
Additional paid-in-capital | $ | 35,284,864 |  | $ | 1,650,262 |  | $ | 36,935,126
Accumulated deficit |  | (25,060,311) |  |  | (1,650,262) |  |  | (26,710,573)
Other Equity accounts |  | 924,228 |  |  | - |  |  | 924,228
Total Shareholders' Equity | $ | 11,148,781 |  | $ | - |  | $ | 11,148,781
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cost of sales | $ | 1,971,960 |  | $ | 117,564 |  | $ | 2,089,524
Gross Profit |  | 544,372 |  |  | (117,564) |  |  | 426,808
Operating Expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  | 2,419,411 |  |  | 291,379 |  |  | 2,710,790
Research and development |  | 1,261,096 |  |  | 66,970 |  |  | 1,328,066
Total operating expense |  | 3,680,507 |  |  | 358,349 |  |  | 4,038,856
Loss from operations |  | (3,136,135) |  |  | (475,913) |  |  | (3,612,048)
Loss before income taxes |  | (3,120,061) |  |  | (475,913) |  |  | (3,595,974)
Net loss | $ | (3,134,579) |  | $ | (475,913) |  | $ | (3,610,492)
Basic net loss per common share | $ | (0.27) |  | $ | (0.04) |  | $ | (0.31)
Diluted net loss per common share | $ | (0.27) |  | $ | (0.04) |  | $ | (0.31)
Comprehensive loss | $ | (3,137,829) |  | $ | (475,913) |  | $ | (3,613,742)
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cost of sales | $ | 1,011,030 |  | $ | 52,777 |  | $ | 1,063,807
Gross Profit |  | 361,496 |  |  | (52,777) |  |  | 308,719
Operating Expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  | 1,254,847 |  |  | 149,999 |  |  | 1,404,846
Research and development |  | 586,403 |  |  | 30,158 |  |  | 616,561
Total operating expense |  | 1,841,250 |  |  | 180,157 |  |  | 2,021,407
Loss from operations |  | (1,479,754) |  |  | (232,934) |  |  | (1,712,688)
Loss before income taxes |  | (1,471,771) |  |  | (232,934) |  |  | (1,704,705)
Net loss | $ | (1,485,164) |  | $ | (232,934) |  | $ | (1,718,098)
Basic net loss per common share | $ | (0.13) |  | $ | (0.02) |  | $ | (0.15)
Diluted net loss per common share | $ | (0.13) |  | $ | (0.02) |  | $ | (0.15)
Comprehensive loss | $ | (1,486,694) |  | $ | (232,934) |  | $ | (1,719,628)
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net loss | $ | (3,134,579) |  | $ | (475,913) |  | $ | (3,610,492)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Stock option expense |  | 24,227 |  |  | 475,913 |  |  | 500,140
Net cash used in operating activities |  | (2,880,218) |  |  | - |  |  | (2,880,218)
Cash and cash equivalents at end of period | $ | 5,683,787 |  | $ | - |  | $ | 5,683,787
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Shareholders' Equity: |  |  |  |  |  |  |  |
Additional paid-in-capital | $ | 36,563,562 |  | $ | 1,935,493 |  | $ | 38,499,055
Accumulated deficit |  | (26,899,621) |  |  | (1,935,493) |  |  | (28,835,114)
Other Equity accounts |  | 935,642 |  |  | - |  |  | 935,642
Total Shareholders' Equity | $ | 10,599,583 |  | $ | - |  | $ | 10,599,583
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cost of sales | $ | 5,639,103 |  | $ | 152,490 |  | $ | 5,791,593
Gross Profit |  | 505,867 |  |  | (152,490) |  |  | 353,377
Operating Expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  | 3,697,804 |  |  | 540,933 |  |  | 4,238,737
Research and development |  | 1,824,312 |  |  | 67,721 |  |  | 1,892,033
Total operating expense |  | 5,522,116 |  |  | 608,654 |  |  | 6,130,770
Loss from operations |  | (5,016,249) |  |  | (761,144) |  |  | (5,777,393)
Loss before income taxes |  | (4,962,488) |  |  | (761,144) |  |  | (5,723,632)
Net loss | $ | (4,973,889) |  | $ | (761,144) |  | $ | (5,735,033)
Basic net loss per common share | $ | (0.42) |  | $ | (0.07) |  | $ | (0.49)
Diluted net loss per common share | $ | (0.42) |  | $ | (0.07) |  | $ | (0.49)
Comprehensive loss | $ | (4,982,576) |  | $ | (761,144) |  | $ | (5,743,720)
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cost of sales | $ | 3,667,143 |  | $ | 34,926 |  | $ | 3,702,069
Gross Loss |  | (38,505) |  |  | (34,926) |  |  | (73,431)
Operating Expenses: |  |  |  |  |  |  |  |
Selling, general and administrative |  | 1,278,393 |  |  | 249,554 |  |  | 1,527,947
Research and development |  | 563,216 |  |  | 751 |  |  | 563,967
Total operating expense |  | 1,841,609 |  |  | 250,305 |  |  | 2,091,914
Loss from operations |  | (1,880,114) |  |  | (285,231) |  |  | (2,165,345)
Loss before income taxes |  | (1,842,427) |  |  | (285,231) |  |  | (2,127,658)
Net loss | $ | (1,839,310) |  | $ | (285,231) |  | $ | (2,124,541)
Basic net loss per common share | $ | (0.15) |  | $ | (0.03) |  | $ | (0.18)
Diluted net loss per common share | $ | (0.15) |  | $ | (0.03) |  | $ | (0.18)
Comprehensive loss | $ | (1,844,747) |  | $ | (285,231) |  | $ | (2,129,978)
| As Previously Reported |  |  |  |  |  |
|  | Adjustments |  | As Restated
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net loss | $ | (4,973,889) |  | $ | (761,144) |  | $ | (5,735,033)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |
Stock option expense |  | 261,176 |  |  | 761,144 |  |  | 1,022,320
Net cash used in operating activities |  | (4,244,064) |  |  | - |  |  | (4,244,064)
Cash and cash equivalents at end of period | $ | 5,272,565 |  | $ | - |  | $ | 5,272,565

X
- References No definition available. + Details
Name: | us-gaap_PriorPeriodAdjustmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
Name: | us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration