Form 10 Explorer
10-K
Annual Report
GREYSTONE LOGISTICS, INC.

CIK: 1088413

File #: 000-26331

Period End: May 31, 2024

Fiscal Year: 2024

View on EDGAR
Balance Sheet
41 line items · 2 periods
XBRL
ItemMay 31, 2024May 31, 2023
Current Assets:
Cash and cash equivalents
5,798,641695,951
Accounts receivable -
Related Party
265,57056,550
Nonrelated Party
4,158,3814,857,504
Other
2,107,108386,877
Inventory
3,871,6264,484,106
Prepaid expenses
585,422528,962
Total Current Assets
16,786,74811,009,950
Property, Plant and Equipment
30,066,11933,184,706
Production Equipment Not Been Placed into Service
812,532—
Right-of-use Operating Lease Assets
5,403,4415,335,714
Greystone and GRE Lease Agreement
5,516,006—
Total Assets
52,256,30949,530,370
Current Liabilities:
Current portion of long-term debt
2,362,2122,249,570
Current portion of financing leases
19,17131,981
Non-cancellable Leases
19,17131,981
Current portion of operating leases
286,221240,346
Accounts payable and accrued expenses
3,670,3323,337,410
Deferred revenue
840,94523,007
Preferred dividends payable
0134,414
Total Current Liabilities
7,178,8816,016,728
Long-Term Debt, net of current portion and debt issuance costs
11,080,73614,919,687
Financing Leases, net of current portion
3,97228,504
Non-cancellable Leases
3,97228,504
Operating Leases, net of current portion
5,167,0135,119,688
Deferred Tax Liability
4,844,9583,905,279
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
55
Common stock, $0.0001 par value, 5,000,000,000 shares authorized, 28,279,701 shares issued and outstanding
2,8282,828
Additional paid-in capital
53,533,27253,533,272
Accumulated deficit
(29,555,356)(33,995,621)
Total Equity
23,980,74919,540,484
Noncontrolling Interest
00
Parent
23,980,74919,540,484
Retained Earnings
(29,555,356)(33,995,621)
Additional Paid-in Capital
53,533,27253,533,272
Common Stock
2,8282,828
Preferred Stock
55
Total Liabilities and Equity
52,256,30949,530,370