10-Q
Quarterly Report
GREYSTONE LOGISTICS, INC.
CIK: 1088413
File #: 000-26331
Balance Sheet
34 line items · 2 periods
XBRL
| Item | Feb 29, 2024 | May 31, 2023 |
|---|---|---|
Current Assets: | ||
Cash | 4,319,849 | 695,951 |
Accounts receivable - | ||
Related Party | 125,202 | 56,550 |
Nonrelated Party | 5,976,046 | 4,857,504 |
Other | 1,488,602 | 386,877 |
Inventory | 3,002,754 | 4,484,106 |
Prepaid expenses | 879,956 | 528,962 |
Total Current Assets | 15,792,409 | 11,009,950 |
Property, Plant and Equipment, net | 30,594,286 | 33,184,706 |
Equipment One | 63,457 | — |
Right-of-Use Operating Lease Assets | 5,132,215 | 5,335,714 |
Total Assets | 51,518,910 | 49,530,370 |
Current Liabilities: | ||
Current portion of long-term debt | 2,384,993 | 2,249,570 |
Current portion of financing leases | 15,288 | 31,981 |
Non-cancellable Leases | 15,288 | 31,981 |
Current portion of operating leases | 232,481 | 240,346 |
Accounts payable and accrued expenses | 3,954,002 | 3,337,410 |
Deferred revenue | 568,299 | 23,007 |
Preferred dividends payable | 146,473 | 134,414 |
Total Current Liabilities | 7,301,536 | 6,016,728 |
Long-Term Debt, net of current portion and debt issuance costs | 11,635,540 | 14,919,687 |
Financing Leases, net of current portion | 1,782 | 28,504 |
Non-cancellable Leases | 1,782 | 28,504 |
Operating Leases, net of current portion | 4,942,738 | 5,119,688 |
Deferred Tax Liability | 5,529,000 | 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 | (31,427,791) | (33,995,621) |
Total Equity | 22,108,314 | 19,540,484 |
Total Liabilities and Equity | 51,518,910 | 49,530,370 |