XML 38 R18.htm IDEA: XBRL DOCUMENT v3.23.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
May 31, 2023
Accounting Policies [Abstract]  
SCHEDULE OF NET INVENTORIES

 The following is a summary of approximate net inventories:

 

   2023   2022 
   May 31, 
   2023   2022 
Raw materials  $1,677,000   $1,717,000 
Work in progress   869,000    763,000 
Finished products   182,000    782,000 
Total gross inventory  $2,728,000   $3,262,000 
Inventory reserve   (672,000)   (846,000)
Net inventory  $2,056,000   $2,416,000 
SCHEDULE OF SHARE-BASED PAYMENT AWARD, STOCK OPTIONS, VALUATION ASSUMPTIONS

 In applying the Black-Scholes option-pricing model, the following assumptions used in the valuation of awards issued for period ending May 31, 2023 and 2022:  

 

   For the year ended May 31, 
   2023   2022 
Dividend yield   0%    0% 
Expected volatility   98.81 - 101.77%    102.54 - 105.48% 
Risk free interest rate   3.12 - 3.35%    0.97 - 2.75% 
Expected term   6.25 years   5.50 - 6.25 years  

SCHEDULE OF DISAGGREGATION REVENUE

 The following is an approximate breakdown of revenues according to primary markets to which the products are sold:

 

   2023   2022 
   For the Year Ended May 31, 
   2023   2022 
Clinical lab  $3,310,000   $3,064,000 
Over-the-counter   1,169,000    1,089,000 
Contract manufacturing   610,000    459,000 
Physician’s office   250,000    14,259,000 
Total  $5,339,000   $18,871,000