Note 8 - Revenue |
12 Months Ended | |||||||||||||||||||||||||||
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May 31, 2026 | ||||||||||||||||||||||||||||
| Notes to Financial Statements | ||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Text Block] |
Greystone’s principal product is plastic pallets produced from recycled plastic resin. Sales are primarily to customers in the continental United States of America. International sales are made to customers in Canada, Mexico and other Central America countries which totaled 2.1% and 1.7% of total sales in fiscal years 2026 and 2025, respectively.
Greystone’s customers include stocking and non-stocking distributors and direct sales to end-user customers. Sales to the following categories of customers for the fiscal years 2026 and 2025, respectively, were as follows:
Advances from a customer pursuant to a contract for the sale of plastics pallets is recognized as deferred revenue. Revenue related to these advances is recognized by Greystone as pallets are shipped to customers. The unrecognized balance of deferred revenue as of both May 31, 2026 and 2025, was $22,964. The Company recognized $0 and $817,981 as revenue related to prior advances during the years ended May 31, 2026 and 2025, respectively. As of June 1, 2024, accounts receivable and deferred revenue was $4,423,951 and $840,945, respectively.
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