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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)
 9 Months Ended
Feb. 28, 2022
Prior Period Adjustment [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

 

As Previously Reported

 

Adjustments

 

As Restated

Cost of sales

$

3,667,143

 

$

34,926

 

$

3,702,069

Gross Profit

 

(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

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

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