10-K
Annual Report
GREYSTONE LOGISTICS, INC.
CIK: 1088413
File #: 000-26331
Balance Sheet
41 line items · 2 periods
XBRL
| Item | May 31, 2024 | May 31, 2023 |
|---|---|---|
Current Assets: | ||
Cash and cash equivalents | 5,798,641 | 695,951 |
Accounts receivable - | ||
Related Party | 265,570 | 56,550 |
Nonrelated Party | 4,158,381 | 4,857,504 |
Other | 2,107,108 | 386,877 |
Inventory | 3,871,626 | 4,484,106 |
Prepaid expenses | 585,422 | 528,962 |
Total Current Assets | 16,786,748 | 11,009,950 |
Property, Plant and Equipment | 30,066,119 | 33,184,706 |
Production Equipment Not Been Placed into Service | 812,532 | — |
Right-of-use Operating Lease Assets | 5,403,441 | 5,335,714 |
Greystone and GRE Lease Agreement | 5,516,006 | — |
Total Assets | 52,256,309 | 49,530,370 |
Current Liabilities: | ||
Current portion of long-term debt | 2,362,212 | 2,249,570 |
Current portion of financing leases | 19,171 | 31,981 |
Non-cancellable Leases | 19,171 | 31,981 |
Current portion of operating leases | 286,221 | 240,346 |
Accounts payable and accrued expenses | 3,670,332 | 3,337,410 |
Deferred revenue | 840,945 | 23,007 |
Preferred dividends payable | 0 | 134,414 |
Total Current Liabilities | 7,178,881 | 6,016,728 |
Long-Term Debt, net of current portion and debt issuance costs | 11,080,736 | 14,919,687 |
Financing Leases, net of current portion | 3,972 | 28,504 |
Non-cancellable Leases | 3,972 | 28,504 |
Operating Leases, net of current portion | 5,167,013 | 5,119,688 |
Deferred Tax Liability | 4,844,958 | 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 | (29,555,356) | (33,995,621) |
Total Equity | 23,980,749 | 19,540,484 |
Noncontrolling Interest | 0 | 0 |
Parent | 23,980,749 | 19,540,484 |
Retained Earnings | (29,555,356) | (33,995,621) |
Additional Paid-in Capital | 53,533,272 | 53,533,272 |
Common Stock | 2,828 | 2,828 |
Preferred Stock | 5 | 5 |
Total Liabilities and Equity | 52,256,309 | 49,530,370 |