10-Q
Quarterly Report
GREYSTONE LOGISTICS, INC.
CIK: 1088413
File #: 000-26331
Balance Sheet
31 line items · 2 periods
XBRL
| Item | Nov 30, 2023 | May 31, 2023 |
|---|---|---|
Current Assets: | ||
Cash | 4,183,406 | 695,951 |
Accounts receivable - | ||
Related Party | 170,960 | 56,550 |
Nonrelated Party | 3,402,977 | 4,857,504 |
Other | 85,709 | 386,877 |
Inventory | 5,260,002 | 4,484,106 |
Prepaid expenses | 293,735 | 528,962 |
Total Current Assets | 13,396,789 | 11,009,950 |
Property, Plant and Equipment, net | 31,873,300 | 33,184,706 |
Right-of-Use Operating Lease Assets | 5,203,089 | 5,335,714 |
Total Assets | 50,473,178 | 49,530,370 |
Current Liabilities: | ||
Current portion of long-term debt | 2,321,333 | 2,249,570 |
Current portion of financing leases | 28,698 | 31,981 |
Current portion of operating leases | 242,417 | 240,346 |
Accounts payable and accrued expenses | 3,636,664 | 3,337,410 |
Deferred revenue | 23,007 | 23,007 |
Preferred dividends payable | 146,473 | 134,414 |
Total Current Liabilities | 6,398,592 | 6,016,728 |
Long-Term Debt, net of current portion and debt issuance costs | 12,254,311 | 14,919,687 |
Financing Leases, net of current portion | 11,737 | 28,504 |
Operating Leases, net of current portion | 4,997,680 | 5,119,688 |
Deferred Tax Liability | 4,854,000 | 3,905,279 |
Equity: | ||
Preferred stock, $0.0001 par value, cumulative, 20,750,000 shares authorized, 50,000 shares issued and outstanding, liquidation preference of $5,000,000 | 5 | 5 |
Common stock, $0.0001 par value, 5,000,000,000 shares authorized, 28,279,701 shares issued and outstanding | 2,828 | 2,828 |
Additional paid-in capital | 53,533,272 | 53,533,272 |
Accumulated deficit | (31,579,247) | (33,995,621) |
Total Equity | 21,956,858 | 19,540,484 |
Total Liabilities and Equity | 50,473,178 | 49,530,370 |