10-Q
Quarterly Report
GREYSTONE LOGISTICS, INC.
CIK: 1088413
File #: 000-26331
Balance Sheet
33 line items · 2 periods
XBRL
| Item | Aug 31, 2024 | May 31, 2024 |
|---|---|---|
Current Assets: | ||
Cash | 3,884,673 | 5,798,641 |
Accounts receivable - | ||
Related Party | 487,148 | 265,570 |
Nonrelated Party | 3,458,712 | 4,158,381 |
Other | 1,781,836 | 2,107,108 |
Inventory | 3,722,429 | 3,871,626 |
Prepaid expenses | 590,590 | 585,423 |
Total Current Assets | 13,925,388 | 16,786,749 |
Property, Plant and Equipment, net | 32,256,659 | 30,066,119 |
Right-of-Use Operating Lease Assets | 5,327,121 | 5,403,441 |
Total Assets | 51,509,168 | 52,256,309 |
Current Liabilities: | ||
Current portion of long-term debt | 2,336,625 | 2,362,212 |
Current portion of financing leases | 14,505 | 19,171 |
Non-cancellable Leases | 14,505 | 19,171 |
Current portion of operating leases | 239,543 | 286,221 |
Accounts payable and accrued expenses | 3,938,560 | 3,670,332 |
Deferred revenue | 22,964 | 840,945 |
Preferred dividends payable | 51,507 | 0 |
Total Current Liabilities | 6,603,704 | 7,178,881 |
Long-Term Debt, net of current portion and debt issuance costs | 10,531,524 | 11,080,736 |
Financing Leases, net of current portion | 2,950 | 3,972 |
Non-cancellable Leases | 2,950 | 3,972 |
Operating Leases, net of current portion | 5,144,161 | 5,167,013 |
Deferred Tax Liability | 5,058,708 | 4,844,958 |
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 | (29,367,984) | (29,555,356) |
Total Equity | 24,168,121 | 23,980,749 |
Total Liabilities and Equity | 51,509,168 | 52,256,309 |