Form 10 Explorer
10-Q
Quarterly Report
GREYSTONE LOGISTICS, INC.

CIK: 1088413

File #: 000-26331

Period End: Feb 29, 2024

Fiscal Year: 2024

View on EDGAR
Balance Sheet
34 line items · 2 periods
XBRL
ItemFeb 29, 2024May 31, 2023
Current Assets:
Cash
4,319,849695,951
Accounts receivable -
Related Party
125,20256,550
Nonrelated Party
5,976,0464,857,504
Other
1,488,602386,877
Inventory
3,002,7544,484,106
Prepaid expenses
879,956528,962
Total Current Assets
15,792,40911,009,950
Property, Plant and Equipment, net
30,594,28633,184,706
Equipment One
63,457—
Right-of-Use Operating Lease Assets
5,132,2155,335,714
Total Assets
51,518,91049,530,370
Current Liabilities:
Current portion of long-term debt
2,384,9932,249,570
Current portion of financing leases
15,28831,981
Non-cancellable Leases
15,28831,981
Current portion of operating leases
232,481240,346
Accounts payable and accrued expenses
3,954,0023,337,410
Deferred revenue
568,29923,007
Preferred dividends payable
146,473134,414
Total Current Liabilities
7,301,5366,016,728
Long-Term Debt, net of current portion and debt issuance costs
11,635,54014,919,687
Financing Leases, net of current portion
1,78228,504
Non-cancellable Leases
1,78228,504
Operating Leases, net of current portion
4,942,7385,119,688
Deferred Tax Liability
5,529,0003,905,279
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
(31,427,791)(33,995,621)
Total Equity
22,108,31419,540,484
Total Liabilities and Equity
51,518,91049,530,370