v3.25.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
May 31, 2025
May 31, 2024
Operating activities    
Net income $ 9,413,136 $ 8,998,762
Adjustments to reconcile net income to net cash flows from operating activities    
Depreciation 1,708,849 1,690,239
Amortization 22,223 7,407
Stock options issued for services 1,222,509 1,047,252
Credit loss expense 535,000 0
Provision for inventory obsolescence 0 385,744
Deferred income taxes (585,385) (444,000)
Changes in other assets and liabilities    
Accounts and other receivables (922,377) 341,096
Inventory (129,315) (2,533,181)
Prepaid expenses (399,372) (285,899)
Prepaid income taxes (94,333) 228,947
Costs and estimated earnings in excess of billings (1,003,934) (232,383)
Accounts payable (319,607) (278,810)
Accrued expenses (592,027) 586,141
Billings in excess of costs and estimated earnings (1,219,207) 3,608,804
Accrued income taxes (126,148) 126,148
Other assets (38,077) (27,343)
Net operating activities 7,471,935 13,218,924
Investing activities    
Acquisition of property and equipment (2,602,088) (1,149,388)
Patent expenditures 0 (300,000)
Increase in short-term investments (6,668,088) (3,616,522)
Increase in cash value of life insurance (4,620) (4,704)
Net investing activities (9,274,796) (5,070,614)
Financing activities    
Proceeds from issuance of common stock 363,319 967,119
Acquisition of treasury stock (201,273) (9,859,177)
Net financing activities 162,046 (8,892,058)
Net change in cash and cash equivalents (1,640,815) (743,748)
Cash and cash equivalents - beginning 2,831,471 3,575,219
Cash and cash equivalents - ending $ 1,190,656 $ 2,831,471