Schmitt Industries (SMIT) 10-Q/A 12 Oct 22 2022 Q2 Quarterly report (amended) Financial data

Cover

Cover - shares	6 Months Ended
	Nov. 30, 2021	Dec. 31, 2021
Cover [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	This Form 10-Q/A amends the Original Filing to reflect the correction of errors in the previously issued unaudited interim condensed consolidated financial statements as of and for the six months ended November 30, 2021 related to the Company's accounting treatment of certain liabilities and expenses incurred that the Company failed to accrue for within the proper reporting period.
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Nov. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--05-31
Entity File Number	001-38964
Entity Registrant Name	SCHMITT INDUSTRIES, INC.
Entity Central Index Key	0000922612
Entity Tax Identification Number	93-1151989
Entity Incorporation, State or Country Code	OR
Entity Address, Address Line One	2765 N.W. Nicolai Street
Entity Address, City or Town	Portland
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97210
City Area Code	(503)
Local Phone Number	227-7908
Title of 12(b) Security	Common Stock - no par value
Trading Symbol	SMIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,811,142

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Nov. 30, 2021	May 31, 2021	Nov. 30, 2020	May 31, 2020
Current assets
Cash and cash equivalents	$ 4,572,774	$ 4,032,690
Accounts receivable, net	1,385,185	1,154,645
Inventories, net	1,830,445	1,553,310
Prepaid expenses	134,209	198,345
Income taxes receivable	3,128	18,057
Total current assets	7,925,741	6,957,047
Leasehold assets	11,688,920	10,448,486
Property and equipment, net	2,329,215	2,824,017
Property and equipment held for sale, net	433,410	174,847
Leasehold, utilities and ERP deposits	721,773	431,808
Other assets
Intangible assets, net	273,968	337,725
TOTAL ASSETS	23,373,027	21,173,930
Current liabilities
Accounts payable	657,902	583,750
Accrued commissions	58,079	60,614
Accrued payroll liabilities	614,483	527,608
Accrued liabilities	394,248	465,146
Customer deposits and prepayments	117,754	93,364
Other accrued liabilities	771,664	694,590
Current portion of long-term lease liabilities	1,224,648	1,042,331
Current portion of long-term debt	876,404	541,691
Total current liabilities	4,715,182	4,009,094
Long-term debt, net current portion	2,594,618	3,253,389
Long-term leasehold liabilities, net current portion	11,359,230	10,141,864
Total liabilities	18,669,030	17,404,347
Stockholders' equity
Common stock, no par value, 20,000,000 shares authorized, 4,229,193 and 3,811,142 shares issued and outstanding at November 30, 2021, respectively; and 4,204,553 and 3,786,502 shares issued and outstanding at May 31, 2021, respectively	12,292,728	12,223,359
Accumulated deficit	(7,588,731)	(8,453,776)
Total stockholders' equity	4,703,997	3,769,583	$ 9,694,246	$ 11,893,202
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 23,373,027	$ 21,173,930

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - shares	Nov. 30, 2021	May 31, 2021
Statement of Financial Position [Abstract]
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	4,229,193	4,204,553
Common stock, shares outstanding	3,811,142	3,786,502

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020
Income Statement [Abstract]
Net sales	$ 2,961,965	$ 2,029,712	$ 6,721,140	$ 3,537,197
Cost of revenue	1,341,279	1,067,599	2,810,430	1,967,440
Gross profit	1,620,686	962,113	3,910,710	1,569,757
Operating expenses
Selling, general and administrative	3,887,148	3,091,516	8,537,700	5,178,232
Transaction costs				125,167
Research and development	5,580	17,877	14,845	35,330
Total operating expenses	3,892,728	3,109,393	8,552,545	5,338,729
Operating loss	(2,272,042)	(2,147,280)	(4,641,835)	(3,768,972)
Bargain purchase gain				1,189,512
Adjustments to bargain purchase gain		(82,103)
Gain on sale of property and equipment	4,598,095	0	4,598,095	0
Forgiveness of PPP loan	0	0	588,534	0
Interest expense	(18,303)	(1,285)	(29,579)	(2,544)
Other income (expense), net	173,274	(134,164)	357,430	(36,836)
Income (loss) before income taxes	2,481,024	(2,364,832)	872,645	(2,618,840)
Income tax provision (benefit)	(1,825)	1,637	7,600	(403,030)
Net income (loss)	$ 2,482,849	$ (2,366,469)	$ 865,045	$ (2,215,810)
Net income (loss) per common share
Basic	$ 0.66	$ (0.63)	$ 0.23	$ (0.59)
Weighted-average number of common shares, basic	3,784,000	3,763,156	3,785,997	3,763,454
Diluted	$ 0.65	$ (0.63)	$ 0.23	$ (0.59)
Weighted-average number of common shares, diluted	3,819,616	3,763,156	3,814,909	3,763,454

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020
Cash flows relating to operating activities
Net income (loss)	$ 865,045	$ (2,215,810)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Bargain purchase gain	0	(1,189,512)
Forgiveness of Paycheck Protection Program loan	(588,534)	0
Depreciation and amortization	294,597	187,114
Gain on sale of property and equipment	(4,598,095)	0
Stock-based compensation	69,369	251,371
Deferred income taxes	0	(406,304)
Non-cash lease costs	159,248	0
Increase (decrease) in:
Accounts receivable, net	(230,540)	(220,514)
Inventories, net	(277,135)	(60,250)
Prepaid expenses	64,136	(46,883)
Deposits on capital improvements to factory	0	(273,278)
Rent, utility deposits and ERP deposits	(289,965)	(79,170)
Leasehold assets	0	(360,896)
Income taxes receivable	14,929	(80,602)
Accounts payable	74,152	503,864
Accrued liabilities and customer deposits	114,906	433,514
Leasehold liabilities	0	773,670
Net cash used in operating activities	(4,327,887)	(2,783,686)
Cash flows relating to investing activities
Acquisition of Ample Hills	0	(1,711,127)
Purchases of property and equipment	(194,429)	(258,371)
Proceeds from the sale of property and equipment	4,797,924	0
Net cash provided by (used in) investing activities	4,603,495	(1,969,498)
Cash flows relating to financing activities
Proceeds from Paycheck Protection Program, net of repayment	264,476	1,795,080
Payments on short-term borrowing	0	(36,441)
Repurchase of common stock	0	(234,517)
Net cash provided by financing activities	264,476	1,524,122
Increase (decrease) in cash and cash equivalents	540,084	(3,229,062)
Cash and cash equivalents, beginning of period	4,032,690	10,566,531
Cash and cash equivalents, end of period	4,572,774	7,337,469
Supplemental disclosure of cash flow information
Cash paid for income taxes, net of refunds	10,606	80,600
Cash paid for interest	$ 0	$ 616

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock	Accumulated Deficit	Total
Beginning balance, value at May. 31, 2020	$ 12,257,306	$ (364,104)	$ 11,893,202
Shares outstanding at May. 31, 2020	3,784,554
Shares issued to directors and officers upon vesting of RSUs	$ 0	0	0
Shares issued to directors and officers upon vesting of RSUs, shares	57,290
Stock-based compensation	$ 251,371	0	251,371
Net loss	0	(2,215,810)	(2,215,810)
Share repurchases	$ (234,517)	0	(234,517)
Shares repurchases, shares	(72,159)
Ending balance, value at Nov. 30, 2020	$ 12,274,160	(2,579,914)	9,694,246
Shares outstanding at Nov. 30, 2020	3,769,685
Beginning balance, value at May. 31, 2021	$ 12,223,359	(8,453,776)	3,769,583
Shares outstanding at May. 31, 2021	3,786,502
Shares issued to directors and officers upon vesting of RSUs	$ 0	0	0
Shares issued to directors and officers upon vesting of RSUs, shares	24,640
Stock-based compensation	$ 69,369	0	69,369
Net loss	0	865,045	865,045
Ending balance, value at Nov. 30, 2021	$ 12,292,728	$ (7,588,731)	$ 4,703,997
Shares outstanding at Nov. 30, 2021	3,811,142

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Nov. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation In the opinion of management of Schmitt Industries, Inc. (the "Company", "Schmitt", "we" or "our"), the accompanying unaudited interim condensed consolidated financial statements, (collectively hereinafter the “consolidated financial statements”), have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly its financial position as of November 30, 2021 and its results of operations and its cash flows for the periods presented. The consolidated balance sheet at May 31, 2021 has been derived from the Annual Report on Form 10-K for the fiscal year ended May 31, 2021. The accompanying unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2021. Operating results for the interim periods presented are not necessarily indicative of the results that may be experienced for the fiscal year ending May 31, 2022. Significant Accounting Policies The Company’s significant accounting policies are described in “Note 2: Summary of Significant Accounting Policies” of our fiscal 2021 Form 10-K filed on August 31, 2021. Principles of Consolidation These consolidated financial statements include those of the Company and its wholly owned subsidiaries: Schmitt Measurement Systems, Inc. and Ample Hills Acquisition LLC. All significant intercompany accounts and transactions have been eliminated in the preparation of the consolidated financial statements. Reclassifications Certain amounts in the prior period consolidated statements of operations have been reclassified to conform to the presentation of the current period. These reclassifications had no effect on previously recorded net income (loss). Use of Estimates The preparation of the consolidated financial statements in conformity with Generally Accepted Accounting Principles in the U.S. (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. New Accounting Standards The Company assesses the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board (“FASB”) on the Company's financial statements as well as material updates to previous assessments, if any, from the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2021. There were no new material accounting standards issued in the six months ended November 30, 2021 that impacted the Company. Recently Adopted Accounting Standards There were no new material accounting standards adopted in the six months ended November 30, 2021. Liquidity Our primary source of liquidity is our cash flows from operating activities resulting from net income and management of working capital. As of November 30, 2021, our available funds consisted of $ 4,572,774 1,300,000 Investor On November 10, 2021, the Company closed on the sale of its building located at 2451 NW 28th Avenue, Portland, OR 97210 for $ 5,100,000 4,723,346 4,598,095 Business Combinations The Company accounts for business combinations in accordance with Accounting Standard Codification (“ASC”) 805 - Business Combinations Acquisition of Ample Hills Assets Held for Sale Assets held for sale are stated at the lower of cost less depreciation or expected net realizable value. Depreciation is computed using the straight-line method over estimated useful lives of 25 35,050 On November 11, 2021, the Company announced the sale of this building located at 2451 NW 28th Avenue, Portland, OR 97210 for $ 5,100,000 4,723,346 4,598,095 Leases The Company owns two office/industrial buildings with a total of 11,667 Leases As of November 30, 2021 and May 31, 2021, assets held for sale consisted of the following: Summary of Significant Accounting Policies - Schedule of Assets Held for Sale Assets Held for Sale November 30, 2021 May 31, 2021 Land $ 159,000 $ 140,000 Buildings and improvements 1,616,250 246,135 Total property and equipment held for sale 1,775,250 386,135 Less accumulated depreciation (1,341,840 ) (211,288 ) Total property and equipment held for sale, net $ 433,410 $ 174,847 Concentration of Credit Risk Financial instruments that potentially expose the Company to concentration of credit risk are trade accounts receivable. Credit terms generally require an invoice to be paid within 30 to 60 days or include a discount of up to 1.5% if the invoice is paid within ten days, with the net amount payable in 30 days. Terms are set for each account depending on the customer's credit standing with the Company. Financial Instruments The carrying value of all other financial instruments potentially subject to valuation risk (principally consisting of cash and cash equivalents, accounts receivable, accounts payable, the current portion of the PPP loans, customer deposits and prepayments) approximates fair value because of their short-term maturities.

RESTATEMENT OF PREVIOUSLY ISSUE

RESTATEMENT OF PREVIOUSLY ISSUED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	6 Months Ended
	Nov. 30, 2021
Accounting Changes and Error Corrections [Abstract]
RESTATEMENT OF PREVIOUSLY ISSUED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	NOTE 2 – RESTATEMENT OF PREVIOUSLY ISSUED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS As previously disclosed on Form 8-K filed on September 20, 2022, the Company determined that the Company’s previously issued condensed consolidated financial statements for the period ended November 30, 2021 should no longer be relied upon due to errors in such condensed consolidated financial statements related to certain liabilities and expenses incurred that the Company failed to accrue for within the proper reporting periods, resulting primarily in the exclusion of certain general and administrative expenses from the statement of operations in the condensed financial statements. The following errors were identified as part of the restatement: A. The Company discovered expenses and liabilities incurred during the three and six month periods ended November 30, 2021 that it failed to accrue for properly. The additional expenses are primarily related to unpaid and unrecorded utility charges, professional fees and other operating expenses. B. The Company discovered that it did not properly record approximately $ 72,000 The following reflects the restatement adjustments recorded in connection with the Company’s restatement of its consolidated financial statements: Restatement of Previously Issued Condensed Consolidated Financial Statements - Schedule of Prior Period Adjustments Balance Sheet As of November 30, 2021 As previously reported Total Adjustments As Restated Reference ASSETS Current Assets Cash and cash equivalents $ 4,572,774 $ — $ 4,572,774 Accounts receivable, net 1,385,185 — 1,385,185 Inventories, net 1,825,636 4,809 1,830,445 A Prepaid expenses 134,209 — 134,209 Income tax receivable 5,701 (2,573 ) 3,128 A Total current assets 7,923,505 2,236 7,925,741 A Leasehold assets 11,688,920 — 11,688,920 Property and equipment, net 2,316,494 12,721 2,329,215 A Property and equipment held for sale, net 433,410 — 433,410 Leasehold, utilities, and ERP deposits 657,490 64,283 721,773 A, B Other assets Intangible assets, net 273,968 — 273,968 Total Assets $ 23,293,787 $ 79,240 $ 23,373,027 A, B LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 677,791 $ (19,889 ) $ 657,902 A Accrued commissions 63,076 (4,997 ) 58,079 A Accrued payroll liabilities 614,483 — 614,483 Accrued liabilities 394,745 (497 ) 394,248 A Customer deposits and prepayments 117,754 — 117,754 Other accrued liabilities 389,213 382,451 771,664 A Current portion of long-term lease liabilities 1,224,648 — 1,224,648 Current portion of long-term debt 876,404 — 876,404 Total current liabilities 4,358,114 357,068 4,715,182 A Long-term debt 2,594,618 — 2,594,618 Long-term leasehold liabilities 11,359,230 — 11,359,230 Total liabilities 18,311,962 357,068 18,669,030 A Stockholders' equity Common stock, no par value, 20,000,000 shares authorized, 4,229,193 and 3,811,142 shares issued and outstanding at November 30, 2021, respectively 12,292,728 — 12,292,728 Accumulated deficit (7,310,903 ) (277,828 ) (7,588,731 ) A, B Total stockholders' equity 4,981,825 (277,828 ) 4,703,997 A, B TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 23,293,787 $ 79,240 $ 23,373,027 A, B Previously Reported Total Adjustments Statement of Operations For the three months ended November 30, 2021 As previously reported Total Adjustments As Restated Reference Net sales $ 2,961,965 $ — $ 2,961,965 Cost of revenue 1,356,874 (15,595 ) 1,341,279 A Gross profit 1,605,091 15,595 1,620,686 A Operating expenses Selling, general and administrative 4,161,890 (274,742 ) 3,887,148 A Research & development 5,580 — 5,580 Total operating expenses 4,167,470 (274,742 ) 3,892,728 A Operating loss (2,562,379 ) 290,337 (2,272,042 ) A Gain on sale of property and equipment 4,598,095 — 4,598,095 Interest expense (18,303 ) — (18,303 ) Other income, net 173,274 — 173,274 Income before income taxes 2,190,687 290,337 2,481,024 A Income tax provision (benefit) 2,775 (4,600 ) (1,825 ) A Net income $ 2,187,912 $ 294,937 $ 2,482,849 A Net income per common share: Basic $ 0.58 $ 0.08 $ 0.66 A Weighted average number of common shares, basic 3,784,000 — 3,784,000 Diluted $ 0.57 $ 0.08 $ 0.65 A Weighted average number of common shares, diluted 3,819,616 — 3,819,616 For the six months ended November 30, 2021 As previously reported Total Adjustments As Restated Net Sales $ 6,721,140 $ — $ 6,721,140 Cost of revenue 2,706,849 103,581 2,810,430 A Gross profit 4,014,291 (103,581 ) 3,910,710 A Operating expenses Selling, general and administrative 8,292,576 245,124 8,537,700 A Research & development 14,845 — 14,845 Total operating expenses 8,307,421 245,124 8,552,545 A Operating loss (4,293,130 ) (348,705 ) (4,641,835 ) A Gain on sale of property and equipment 4,598,095 — 4,598,095 Forgiveness of PPP loans 588,534 — 588,534 Interest expense (29,579 ) — (29,579 ) Other income, net 285,303 72,127 357,430 B Income before income taxes 1,149,223 (276,578 ) 872,645 A, B Income tax provision (benefit) 6,350 1,250 7,600 A Net income $ 1,142,873 $ (277,828 ) $ 865,045 A, B Net income per common share Basic $ 0.30 $ (0.07 ) $ 0.23 A, B Weighted average number of common shares, basic 3,785,997 — 3,785,997 Diluted $ 0.30 $ (0.07 ) $ 0.23 A, B Weighted average number of common shares, diluted 3,814,909 — 3,814,909 Statement of Cash Flows For the six months ended November 30, 2021 As previously reported Total Adjustments As Restated Reference Cash flows relating to operating activities Net income $ 1,142,873 $ (277,828 ) $ 865,045 A, B Adjustments to reconcile net income to net cash used in operating activities: Forgiveness of Paycheck Protection Program Loan (588,534 ) — (588,534 ) Depreciation and amortization 294,597 — 294,597 Gain on disposal of property and equipment (4,598,095 ) — (4,598,095 ) Stock-based compensation 69,369 — 69,369 Non-cash lease costs 159,248 — 159,248 (Increase) decrease in: Accounts receivable, net (230,540 ) — (230,540 ) Inventories, net (272,326 ) (4,809 ) (277,135 ) A Prepaid expenses 64,136 — 64,136 Rent, utility deposits, & ERP deposits (225,682 ) (64,283 ) (289,965 ) A, B Income taxes receivable 12,356 2,573 14,929 A (Increase) decrease in: Accounts payable 94,041 (19,889 ) 74,152 A Accrued liabilities and customer deposits (262,052 ) 376,958 114,906 A Net cash used in operating activities $ (4,340,609 ) $ 12,722 $ (4,327,887 ) A, B Cash flows relating to investing activities Purchases of property and equipment (181,707 ) (12,722 ) (194,429 ) A Proceeds from the sale of property and equipment 4,797,924 — 4,797,924 Net cash provided by investing activities $ 4,616,217 $ (12,722 ) $ 4,603,495 A Cash flows relating to financing activities Proceeds from Paycheck Protection Program $ 264,476 $ — $ 264,476 Net cash provided by financing activities $ 264,476 $ — $ 264,476 Increase in cash and cash equivalents 540,084 — $ 540,084 Cash and cash equivalents, beginning of period 4,032,690 — 4,032,690 Cash and cash equivalents, end of period $ 4,572,774 $ — $ 4,572,774 Supplemental disclosure of cash flow information Cash paid for income taxes, net of refunds $ 10,606 $ — $ 10,606 Cash paid for interest $ — $ — $ — Segment Information-Ice Cream For the three months ended November 30, 2021 As previously reported Total Adjustments As Restated Reference Revenue, net $ 1,979,616 $ — $ 1,979,616 Gross Margin $ 1,128,655 $ (24,512 ) $ 1,104,143 A Gross Margin % 57.0 % (1.2 %) 55.8 % A Operating loss $ (1,922,873 ) $ 190,542 $ (1,732,331 ) A Depreciation expense $ 106,747 $ — $ 106,747 Amortization expense $ 5,733 $ — $ 5,733 Capital expenditures $ 57,074 $ 11,053 $ 68,127 A For the six months ended November 30, 2021 As previously reported Total Adjustments As Restated Revenue, net $ 4,935,371 $ — $ 4,935,371 Gross Margin $ 3,137,845 $ (97,522 ) $ 3,040,323 A Gross Margin % 63.6 % (2.0 %) 61.6 % A Operating loss $ (3,138,091 ) $ (222,329 ) $ (3,360,420 ) A Depreciation expense $ 214,639 $ — $ 214,639 Amortization expense $ 11,466 $ — $ 11,466 Capital expenditures $ 181,707 $ 12,722 $ 194,429 A Segment Information-Measurement For the three months ended November 30, 2021 As previously reported Total Adjustments As Restated Revenue, net $ 982,349 $ — $ 982,349 Gross Margin $ 476,436 $ 40,107 $ 516,543 A Gross Margin % 48.5 % 4.1 % 52.6 % A Operating loss $ (639,506 ) $ 99,795 $ (539,711 ) A Depreciation expense $ 6,493 $ — $ 6,493 Amortization expense $ 26,145 $ — $ 26,145 Capital expenditures $ — $ — $ — For the six months ended November 30, 2021 As previously reported Total Adjustments As Restated Revenue, net $ 1,785,769 $ — $ 1,785,769 Gross Margin $ 876,446 $ (6,059 ) $ 870,387 A Gross Margin % 49.10 % (0.3 %) 48.8 % A Operating loss $ (1,155,039 ) $ (126,376 ) $ (1,281,415 ) A Depreciation expense $ 16,200 $ — $ 16,200 Amortization expense $ 52,292 $ — $ 52,292 Capital expenditures $ — $ — $ — Segment Information- Assets As of November 30, 2021 As previously reported Total Adjustments As Restated Ice Cream Segment $ 9,898,380 $ 81,814 $ 9,980,194 A, B Measurement Segment $ 2,270,087 $ (2,574 ) $ 2,267,513 A Corporate assets 11,125,320 — 11,125,320 Total Assets $ 23,293,787 $ 79,240 $ 23,373,027 A, B

NOTE 3 - AMPLE HILLS BUSINESS A

NOTE 3 - AMPLE HILLS BUSINESS ACQUISITION	6 Months Ended
	Nov. 30, 2021
Business Combination and Asset Acquisition [Abstract]
NOTE 3 - AMPLE HILLS BUSINESS ACQUISITION	NOTE 3 - AMPLE HILLS BUSINESS ACQUISITION On July 9, 2020, Ample Hills Acquisition LLC ("Buyer"), a New York limited liability company and wholly owned subsidiary of the Company, entered into an Asset Purchase Agreement (the "Agreement"), dated as of June 29, 2020, with Ample Hills Holdings, Inc., a Delaware corporation, Ample Hills Creamery, Inc., a New York corporation, and their subsidiaries (collectively, "Ample Hills"). The transactions contemplated by the Agreement (the "Transactions") closed on July 9, 2020, the day after a sale order approving the Transactions was entered by the Bankruptcy Court (defined below). The Ample Hills entities were debtors-in-possession under title 11 of the United States Code, 11 U.S.C. § 101 et seq. pursuant to voluntary petitions for relief filed under chapter 11 of the Bankruptcy Code on March 15, 2020 in the United States Bankruptcy Court for the Eastern District of New York (the "Bankruptcy Court"). The Transactions were conducted through a Bankruptcy Court-supervised process, subject to Bankruptcy Court-approved bidding procedures, approval of the Transactions by the Bankruptcy Court, and the satisfaction of certain closing conditions. The Agreement assigned to Buyer, or one or more of its affiliates, the Acquired Assets (as defined in the Agreement) and Buyer, or one or more of its affiliates, assumed the Assumed Liabilities (as defined in the Agreement) for a purchase price of $ 1,000,000 700,000 125,167 The Company's strategy includes utilizing its capital for value opportunities. Accordingly, the primary purpose of the Ample Hills acquisition was to capitalize on this strategy by purchasing a business with a good brand name, which in light of the purchase price paid in bankruptcy, could have a significant upside. The Transactions were funded by the Company with cash on hand and has been accounted for in accordance with ASC 805. Our estimates of fair value are based upon assumptions believed to be reasonable, yet are inherently uncertain and, as a result, may differ from actual performance. During the measurement period, not to exceed one year from the date of acquisition, the Company recorded adjustments to the estimated fair values of the assets acquired and liabilities assumed with a corresponding adjustment to goodwill or bargain purchase gain, as appropriate, in the period in which such revised estimates are identified. The purchase price allocation has been finalized as of May 31, 2021, within the measurement period, and no further adjustments will be made. In accordance with ASC 805 , The following table summarizes the Company's fair value of the assets acquired, and liabilities assumed, as of July 9, 2020, for the Company's acquisition of Ample Hills. Ample Hills Business Acquisition - Schedule of Purchase Price Allocation Purchase Price Cash paid to sellers $ 1,000,000 Cash paid for cure costs 713,404 Total Purchase Price $ 1,713,404 Purchase Price Allocation Assets Acquired Right-of-use operating lease assets 10,645,098 Website 25,445 Tradename and trademarks 903,422 Proprietary recipes 146,739 Security deposits 225,180 Machinery and equipment 564,553 Leasehold improvements 815,798 Inventory 632,100 Total assets acquired $ 13,958,335 Liabilities Assumed Right-of-use operating lease liabilities 10,645,098 Deferred tax liability 405,688 Customer deposits 20,204 Gift card liabilities 35,133 Total liabilities assumed $ 11,106,123 Net assets acquired 2,852,212 Gain on bargain purchase $ 1,138,808 As a result of additional information obtained during the measurement period about the facts and circumstances that existed as of the acquisition date, the Company recorded measurement period adjustments which resulted in a reduction in the bargain purchase gain, which reduced it to $ 1,138,808 Ample Hills was a privately held company that was acquired out of bankruptcy. Management has performed a thorough evaluation of the pre-bankruptcy books and found the records to not be auditable. Therefore, management engaged a third party consultant to assist in evaluating alternative means by which to provide historic financial data in future periods. For further information see Note 13 – Intangible Assets, net

STOCK OPTIONS AND STOCK-BASED C

STOCK OPTIONS AND STOCK-BASED COMPENSATION	6 Months Ended
	Nov. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK OPTIONS AND STOCK-BASED COMPENSATION	NOTE 4 - STOCK OPTIONS AND STOCK-BASED COMPENSATION Stock-based compensation includes expense charges for all stock-based awards to employees and directors granted under the Company's stock option plan. Stock-based compensation recognized during the period is based on the portion of the grant date fair value of the stock-based award that will vest during the period, adjusted for expected forfeitures. Compensation cost for all stock-based awards is recognized using the straight-line method. Stock Options At November 30, 2021, the Company had outstanding stock options to purchase 22,500 1.70 Outstanding Options Exercisable Options Number of Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Life (years) Number of Shares Weighted- Average Exercise Price 22,500 $ 1.70 5.3 22,500 $ 1.70 No stock options were granted, exercised, canceled or expired under the Company's stock-based compensation plans during the six months ended November 30, 2021. Restricted Stock Units Service-based and market-based restricted stock units (“RSUs”) are granted to key employees, members of the Company's Board of Directors and others. Service-based RSUs generally fully vest on the first anniversary date of the award. Market-based RSUs are contingent on continued service and vest based on the 15-day average closing price of the Company's common stock equal or exceeding certain targets established by the Compensation Committee of the Board of Directors. No market-based RSUs were granted in the six months ended November 30, 2021. During the six months ended November 30, 2021, 9,457 RSU activity under the Company's stock-based compensation plans during the six months ended November 30, 2021 is summarized as follows: Stock Options and Stock-Based Compensation - Schedule of Restricted Stock Unit Activity Number of Units Weighted-Average Price at Grant Date Aggregate Intrinsic Value Non-vested RSUs - May 31, 2021 34,237 $ 4.71 $ 161,400 RSUs granted 9,457 $ 4.18 39,551 RSUs vested (24,640 ) $ 4.06 (99,948 ) Non-vested RSUs – November 30, 2021 19,054 $ 5.30 $ 101,003 During the three and six months ended November 30, 2021, total restricted stock-compensation expense recognized was $ 42,422 69,369 57,548

WEIGHTED-AVERAGE SHARES AND REC

WEIGHTED-AVERAGE SHARES AND RECONCILIATION	6 Months Ended
	Nov. 30, 2021
Net income (loss) per common share
WEIGHTED-AVERAGE SHARES AND RECONCILIATION	NOTE 5 – WEIGHTED-AVERAGE SHARES AND RECONCILIATION Basic net (loss) income per share is computed using the weighted-average number of shares of common stock outstanding. Diluted net (loss) income per share is computed using the weighted-average number of shares of common stock outstanding, adjusted for dilutive incremental shares attributed to outstanding options to purchase common stock and RSUs vested but not issued. Common stock equivalents for stock options are computed using the treasury stock method. In periods in which a net loss is incurred, no common stock equivalents are included since they are antidilutive and as such all stock options outstanding are excluded from the computation of diluted net loss in those periods. For the three and six months ended November 30, 2021, potentially dilutive securities consisted of options to purchase 22,500 1.70 Basic weighted-average shares for the three and six months ended November 30, 2021 and November 30, 2020 were as follows: Weighted-Average Shares and Reconciliation - Schedule of Weighted-Average Number of Shares Three Months Ended Six Months Ended 2021 2020 2021 2020 Weighted-average shares (basic) 3,784,000 3,763,156 3,785,997 3,763,454 Effect of dilutive stock options 35,616 — 28,912 — Weighted-average shares (diluted) 3,819,616 3,763,156 3,814,909 3,763,454

LEASES

LEASES	6 Months Ended
	Nov. 30, 2021
Leases [Abstract]
LEASES	NOTE 6 – LEASES On November 22, 2019, the Company entered into a triple-net lease agreement with Tosei, whereby Tosei will lease the Company's building located at 2451 NW 28th Avenue, Portland, OR 97210 for a base monthly fee of $ 23,282 120 5,100,000 4,723,346 On October 1, 2020, the Company entered into the Humboldt Lease, whereby Humboldt will lease the Company's building located at 2765 NW Nicolai Street, Portland, OR 97210 for a monthly fee of $ 3,185 62 Years Ending May 31, 2022 $ 19,682 2023 40,151 2024 41,356 2025 42,597 2026 14,338 Total undiscounted cash flow $ 158,124 On December 1, 2020, the Company entered into the Second Humboldt Lease, whereby Humboldt will lease a portion of the Company’s building located at 2451 NW 28th Avenue, Portland, OR 97210 for a monthly fee of $ 4,596 59 In connection with the July 9, 2020 acquisition of Ample Hills, the Company has multiple real estate leases for its leased stores as well as a manufacturing facility that are recorded as operating leases under various non-cancellable operating leases. On November 12, 2021, the Company signed an additional retail lease agreement in conjunction with its new retail store located in New York. The store is scheduled to open during the spring of 2022. Payments on this lease will commence on April 22, 2022. To determine whether a contract is or contains a lease, the Company determines at contract inception whether it contains the right to control the use of an identified asset for a period of time in exchange for consideration to the counterparty in the transaction. If the Company determines that the contract provides the right to obtain substantially all of the economic benefit from the use of the leased asset, as well as the right for the Company to direct the asset's use, the Company recognizes a right-of-use asset and liability upon contract inception. The initial carrying value of the operating lease liability is determined by calculating the present value of future lease payments under the contract. The Company considers the future lease payments under the original terms of the contract, and also includes explicitly enumerated renewal periods where management is reasonably certain that such renewal options will be exercised. The Company’s operating leases contain varying terms and expire at various dates through 2030. For the three months ended November 30, 2021 and November 30, 2020, lease expenses under fixed term leases amounted to $ 486,039 424,284 926,903 690,092 Certain of the Company’s operating leases contain variable lease payments, either in part or in total, related to certain performance targets by the Company at the underlying store locations. These variable leases costs are recognized as incurred in accordance with ASC 842 - Leases The Company's future minimum lease payments required under operating leases that have commenced as of November 30, 2021 were as follows: Leases - Schedule of Future Minimum Lease Payments for Operating Leases Other Liabilities Years Ending May 31, 2022 $ 777,027 2023 1,858,502 2024 1,866,585 2025 1,845,319 2026 1,619,558 Thereafter 7,146,576 Total lease payments 15,113,567 Less: imputed interest (2,529,689 ) Present value of lease payments 12,583,878 less: current lease obligations (1,224,648 ) Long-term lease obligations $ 11,359,230 In order to calculate the operating lease asset and liability for a lease, ASC 842 - Leases The Company’s lease term and discount rates were as follows: Leases - Schedule of Lease Terms and Discount Rates November 30, 2021 Weighted-average remaining lease term (years) 7.67 Weighted-average discount rate 3.87 %

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	6 Months Ended
	Nov. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 7 – PROPERTY AND EQUIPMENT, NET The Company’s property and equipment, net consisted of the following: Property and Equipment, Net - Schedule of Property, Plant and Equipment, Net November 30, 2021 (As Restated) May 31, 2021 Land Land $ — $ 159,000 Buildings and improvements Buildings and Improvements 1,493,400 2,989,140 Furniture, fixtures and equipment Furniture, Fixtures and Equipment 1,827,315 1,788,784 Total property and equipment 3,320,715 4,936,924 Less: accumulated depreciation (991,500 ) (2,112,907 ) Total property and equipment, net $ 2,329,215 $ 2,824,017 Depreciation expense for the three months ended November 30, 2021 and 2020 was $ 113,240 68,561 230,839 124,795

CUSTOMER CONCENTRATION

CUSTOMER CONCENTRATION	6 Months Ended
	Nov. 30, 2021
Risks and Uncertainties [Abstract]
CUSTOMER CONCENTRATION	NOTE 8 - CUSTOMER CONCENTRATION Revenue Customer The Company had one customer who accounted for 11.0 16.2

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET	6 Months Ended
	Nov. 30, 2021
Receivables [Abstract]
ACCOUNTS RECEIVABLE, NET	NOTE 9 – ACCOUNTS RECEIVABLE, NET The Company’s accounts receivable, net consisted of the following: Accounts Receivable, Net - Schedule of Accounts Receivable, Net November 30, May 31, 2021 2021 Accounts receivable $ 1,479,192 $ 1,252,968 Less: allowance for doubtful accounts (94,007 ) (98,323 ) Accounts receivable, net $ 1,385,185 $ 1,154,645

INVENTORIES, NET

INVENTORIES, NET	6 Months Ended
	Nov. 30, 2021
Inventory Disclosure [Abstract]
INVENTORIES, NET	NOTE 10 – INVENTORIES, NET The Company’s inventories, net consisted of the following: Inventories, Net - Schedule of Inventories, Current November 30, 2021 (As Restated) May 31, 2021 Raw materials $ 887,829 $ 901,464 Work-in-process 28,958 35,160 Finished goods 1,014,437 731,826 Total inventories 1,931,224 1,668,450 Less: inventory reserves (100,779 ) (115,140 ) Inventories, net $ 1,830,445 $ 1,553,310

INCOME TAXES

INCOME TAXES	6 Months Ended
	Nov. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 11 - INCOME TAXES The Company accounts for income taxes using the asset and liability method. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Management continues to review the level of the valuation allowance on a quarterly basis. There can be no assurance that the Company's future operations will produce sufficient earnings to allow for the deferred tax asset to be fully utilized. The Company currently maintains a full valuation allowance against net deferred tax assets. Each year the Company files income tax returns in the various national, state and local income taxing jurisdictions in which it operates. These tax returns are subject to examination and possible challenge by the taxing authorities. Positions challenged by the taxing authorities may be settled or appealed by the Company. As a result, there is an uncertainty in income taxes recognized in the Company's consolidated financial statements in accordance with ASC Topic 740. The Company applies this guidance by defining criteria that an individual income tax position must meet for any part of the benefit of that position to be recognized in an enterprise's financial statements and provides guidance on measurement, de-recognition, classification, accounting for interest and penalties, accounting in interim periods, disclosure, and transition. As of November 30, 2021 and of May 31, 2021, the Company had no other long-term liabilities related to income tax contingencies. Interest and penalties associated with uncertain tax positions are recognized as components of the "Provision for income taxes." The Company had no liability for payment of interest and penalties as of November 30, 2021 and May 31, 2021. Several tax years are subject to examination by major tax jurisdictions. In the United States, federal tax years ended May 31, 2018 and after are subject to examination. Effective Tax Rate The effective tax rate was 0.1 0.6 0.1 15.4

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Nov. 30, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 12 - SEGMENT INFORMATION As described in Note 3 - Ample Hills Business Acquisition The foregoing information presents the balances and activities of the Measurement Segment for the three and six months ended November 30, 2021 and November 30, 2020. For the Ice Cream Segment, the balances and activities for the three and six months ended November 30, 2021 are included, however, due to the acquisition occurring on July 9, 2020, only a portion of balances and activities are presented for the three and six months ended November 30, 2020. The following table present the activity for the three months ended November 30, 2021 and 2020: Segment Information - Schedule of Segment Reporting Information by Segment Three Months Ended November 30, 2021 (As Restated) 2020 Ice Cream Measurement Ice Cream Measurement Revenue, net $ 1,979,616 $ 982,349 $ 1,158,989 $ 870,723 Gross margin $ 1,104,143 $ 516,543 $ 467,714 $ 494,399 Gross margin % 55.8 % 52.6 % 40.4 % 56.8 % Operating loss $ (1,732,331 ) $ (539,711 ) $ (1,737,598 ) $ (409,682 ) Depreciation expense $ 106,747 $ 6,493 $ 59,160 $ 9,401 Amortization expense $ 5,733 $ 26,145 $ 6,017 $ 26,146 Capital expenditures $ 68,127 $ — $ 111,387 $ 13,680 The following table present the activity for the six months ended November 30, 2021 and 2020: Six Months Ended November 30, 2021 (As Restated) 2020 Ice Cream Measurement Ice Cream Measurement Revenue, net $ 4,935,371 $ 1,785,769 $ 1,660,409 $ 1,876,788 Gross margin $ 3,040,323 $ 870,387 $ 681,136 $ 888,621 Gross margin % 61.6 % 48.8 % 41.0 % 47.4 % Operating loss $ (3,360,420 ) $ (1,281,415 ) $ (2,700,352 ) $ (1,068,620 ) Depreciation expense $ 214,639 $ 16,200 $ 94,486 $ 30,309 Amortization expense $ 11,466 $ 52,292 $ 10,028 $ 52,291 Capital expenditures $ 194,429 $ — $ 232,051 $ 26,320 Segment Assets November 30, 2021 (As Restated) May 31, 2021 Segment assets to total assets Ice Cream Segment $ 9,980,194 $ 10,713,832 Measurement Segment 2,267,513 2,565,701 Corporate assets 11,125,320 7,894,397 Total assets $ 23,373,027 $ 21,173,930

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Nov. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 13 - INTANGIBLE ASSETS Indefinite-Lived Intangible Assets In connection with the acquisition of Ample Hills on July 9, 2020, the Company acquired tradenames and trademarks related to the Ample Hills business. The Company estimated the fair value of these assets utilizing the relief-from-royalty method. These assets were determined to be indefinite-lived and are not amortized, but instead are reviewed for impairment at least annually or whenever events or changes in circumstances indicate that such carrying values may not be recoverable as required by ASC 350, Intangibles — Goodwill and Other During the fourth quarter of the fiscal year ended May 31, 2021, the Company made an evaluation based on factors such as changes in the Ice Cream Segment’s growth rate and recent trends in the Ice Cream Segment’s forecasted financial information, and concluded that a triggering event for an interim impairment analysis had occurred. As part of qualitative assessment, it was determined that the carrying value of the Ample Hills tradenames exceeded the estimated fair value. The tradename was valued using the relief-from-royalty method – a variation of the income approach – which was used for the initial valuation of the tradename in connection with the Company’s acquisition of Ample Hills. Due to a reduction in estimated total enterprise value as a result of the change in financial projections, there is no incremental fair value to allocate to the tradenames. Therefore, during the fiscal year ended May 31, 2021, the Company recognized an impairment loss in the amount of $ 903,422 Finite-lived Intangible Assets Amortizable intangible assets include purchased technology and patents for the Company’s Measurement Segment and proprietary recipes and the Company’s website for its Ice Cream Segment. These assets are amortized over their estimated useful lives ranging from three to fifteen years. In total, the weighted-average remaining amortization period of the Company’s intangible assets was 4.62 As of November 30, 2021 and May 31, 2021, for the Measurement Segment, the gross carrying value of amortizable intangible assets was $ 1,663,538 1,528,226 1,475,935 26,145 26,146 52,292 52,291 1.25 As of November 30, 2021 and May 31, 2021, for the Ice Cream Segment, the gross carrying value of amortizable intangible assets was $ 172,184 33,528 22,062 5,733 11,466 6,017 10,028 7.92 The following tables present the major components of finite-intangible assets which are subject to amortization as of November 30, 2021 and May 31, 2021: Intangible Assets - Schedule of Finite-Lived Intangible Assets As of November 30, 2021 Useful Life (Years) Gross Carrying Value Accumulated Amortization Net Carrying Value Finite-lived intangible assets subject to amortization: Measurement Segment Patented technology Patented Technology 15 $ 1,663,538 $ (1,528,226 ) $ 135,312 Measurement Segment finite-lived assets 1,663,538 (1,528,226 ) 135,312 Ice Cream Segment Proprietary recipes 10 146,739 (21,244 ) 125,495 Company website 3 25,445 (12,284 ) 13,161 Ice Cream Segment finite-lived intangible assets 172,184 (33,528 ) 138,656 Total finite-lived intangible assets $ 1,835,722 $ (1,561,754 ) $ 273,968 As of May 31, 2021 Useful Life (Years) Gross Carrying Value Accumulated Amortization Net Carrying Value Finite-lived intangible assets subject to amortization: Measurement Segment Patented technology 15 $ 1,663,538 $ (1,475,935 ) $ 187,603 Measurement Segment finite-lived assets 1,663,538 (1,475,935 ) 187,603 Ice Cream Segment Proprietary recipes 10 146,739 (13,934 ) 132,805 Company website 3 25,445 (8,128 ) 17,317 Ice Cream Segment finite-lived intangible assets 172,184 (22,062 ) 150,122 Total finite-lived intangible assets $ 1,835,722 $ (1,497,997 ) $ 337,725 Estimated amortization expense for each of the following years is as follows: Intangible Assets - Schedule of Finite-Lived Intangible Assets Future Amortization Expense Year Ending May 31, 2022 $ 68,341 2023 101,370 2024 15,313 2025 14,621 2026 14,621 Thereafter 59,702 Total expected amortization expense $ 273,968 Finite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of the asset may not be recoverable. Recoverability is determined by comparing the forecasted future net undiscounted cash flows from the operations to which the assets relate, based on management's best estimates using the appropriate assumptions and projections at the time, to the carrying amount of the assets. If the carrying value is determined to be in excess of such undiscounted cash flows, the asset is considered impaired and a loss is recognized equal to the amount by which the carrying amount exceeds the estimated fair value of the assets, which is determined by discounting future projected cash flows.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Nov. 30, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	NOTE 14 – LONG-TERM DEBT Paycheck Protection Program Loan On March 21, 2020, the Coronavirus Aid Relief and Economic Security Ace (“CARES ACT”) was enacted. The CARES ACT established the PPP, which funds eligible businesses through federally guaranteed loans. Under the PPP, companies are eligible for forgiveness of principal and accrued interest if the proceeds are used for eligible costs, which include, but are not limited to, payroll, benefits, mortgage, lease and utility expenses. The Company received three PPP loans during the fiscal year ended May 31, 2021, one of which was forgiven during the six months ended November 30, 2021. The remaining PPP loans are as follows: Loan Amount Issuance Date Maturity Period Interest Rate PPP Loans Ample Hills $ 1,471,022 July 30, 2020 5 1.0 Ample Hills 2,000,000 April 6, 2021 5 1.0 Total PPP Loan Balance $ 3,471,022 The first two loans (one of which was forgiven during the six months ended November 30, 2021 and therefore excluded from the table) were granted on July 30, 2020 (collectively the “First Draw PPP Loan”) under two notes payable. Both notes were issued July 30, 2020 and funds were disbursed on August 3, 2020. The third loan was granted April 6, 2021 (the “Second Draw PPP Loan”) under a note payable. The note payable issued by Ample Hills for the Second Draw PPP Loan was dated April 6, 2021 (the three notes collectively the “Notes”) and funds were disbursed April 6, 2021. The Notes mature five years from the date of issuance and bear interest annually of 1.0%. Interest is accrued monthly, commencing on the date of issuance. Principal and interest is paid monthly through the maturity date, commencing on July 30, 2020 for the First Draw PPP Loan and April 6, 2021 for the Second Draw PPP Loan, unless forgiven as described below. The Notes may be prepaid at any time prior to maturity with no prepayment penalties. As noted above, Loan proceeds may be used only for eligible expense. Ample Hills has used and intends to use the remaining funds for eligible purposes, including the re-hiring of Ample Hill’s workforce, The Company or Ample Hills, as applicable, is currently seeking forgiveness of the balance of the First Draw PPP Loan and for the Second Draw PPP Loan. Forgiveness of the Loans is available for principal that is used for the limited purposes that qualify for forgiveness under the requirements of the Small Business Administration (“SBA”), in addition to accrued interest. To obtain forgiveness, the Company must request it, provide documentation in accordance with SBA requirements and certify that the amounts requested to be forgiven qualify under those requirements. There is no guarantee that the remaining Loans will be forgiven by the SBA and therefore, the Company has recorded a $ 3,471,022 876,404 On August 2, 2021, the Company requested forgiveness of the First Draw PPP loan and provided documentation in accordance with SBA requirements and certified the amounts requested to be forgiven qualified under the requirements. On August 28, 2021, the Company received correspondence from Bank of America, which included a Notice of Paycheck Protection Program Forgiveness Payment from SBA for a portion of the First Draw PPP Loan in the amount of $ 588,534 264,476 Schmitt Industries On December 15, 2021 and December 22, 2021, respectively, for the remaining portion of the First Draw PPP loan and the Second PPP loan, the Company provided documentation in accordance with SBA requirements and certified the amounts requested to be forgiven qualified under the requirements. As of November 30, 2021 and May 31, 2021, the Company has the following current and long-term liabilities recorded for the PPP loans: Long-Term Debt - Schedule of Debt November 30, 2021 May 31, 2021 PPP Loan Balance Current $ 876,404 $ 541,691 Long-term 2,594,618 3,253,389 Total PPP Loan Balance $ 3,471,022 $ 3,795,080

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Nov. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 15 – COMMITMENTS AND CONTINGENCIES In a transaction related to the acquisition of Schmitt Measurement Systems, Inc., formerly TMA Technologies, Inc. ("TMA"), the Company established a royalty pool and vested in each shareholder and debt holder of the acquired company an interest in the royalty pool equal to the amount invested or loaned including interest payable through March 1995. The royalty pool is funded at 5% of net revenues (defined as gross sales less returns, allowances and sales commissions) of the Company's surface measurement products and future derivative products developed by Schmitt Industries, Inc., which utilize these technologies. As part of the royalty pool agreement, each former shareholder and debt holder released TMA from any claims with regards to the acquisition except their rights to future royalties. Royalty expense for the three months ended November 30, 2021 and November 30, 2020 amounted to $ 11,787 6,506 19,429 12,486 During the Company’s fiscal year ended May 31, 2020 (“Fiscal 2020”), the Company determined that it was more likely than not that the Company had a pre-existing tax liability related to prior periods. The Company has analyzed the liability and estimated it to be $ 265,349

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Nov. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16 - SUBSEQUENT EVENTS The Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q and determined that there have been no events that have occurred that would require adjustments to our disclosures in the unaudited interim condensed consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Nov. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management of Schmitt Industries, Inc. (the "Company", "Schmitt", "we" or "our"), the accompanying unaudited interim condensed consolidated financial statements, (collectively hereinafter the “consolidated financial statements”), have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly its financial position as of November 30, 2021 and its results of operations and its cash flows for the periods presented. The consolidated balance sheet at May 31, 2021 has been derived from the Annual Report on Form 10-K for the fiscal year ended May 31, 2021. The accompanying unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2021. Operating results for the interim periods presented are not necessarily indicative of the results that may be experienced for the fiscal year ending May 31, 2022. Significant Accounting Policies The Company’s significant accounting policies are described in “Note 2: Summary of Significant Accounting Policies” of our fiscal 2021 Form 10-K filed on August 31, 2021.
Principles of Consolidation	Principles of Consolidation These consolidated financial statements include those of the Company and its wholly owned subsidiaries: Schmitt Measurement Systems, Inc. and Ample Hills Acquisition LLC. All significant intercompany accounts and transactions have been eliminated in the preparation of the consolidated financial statements.
Reclassifications	Reclassifications Certain amounts in the prior period consolidated statements of operations have been reclassified to conform to the presentation of the current period. These reclassifications had no effect on previously recorded net income (loss).
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with Generally Accepted Accounting Principles in the U.S. (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
New Accounting Standards	New Accounting Standards The Company assesses the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board (“FASB”) on the Company's financial statements as well as material updates to previous assessments, if any, from the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2021. There were no new material accounting standards issued in the six months ended November 30, 2021 that impacted the Company. Recently Adopted Accounting Standards There were no new material accounting standards adopted in the six months ended November 30, 2021.
Liquidity	Liquidity Our primary source of liquidity is our cash flows from operating activities resulting from net income and management of working capital. As of November 30, 2021, our available funds consisted of $ 4,572,774 1,300,000 Investor On November 10, 2021, the Company closed on the sale of its building located at 2451 NW 28th Avenue, Portland, OR 97210 for $ 5,100,000 4,723,346 4,598,095
Business Combinations	Business Combinations The Company accounts for business combinations in accordance with Accounting Standard Codification (“ASC”) 805 - Business Combinations Acquisition of Ample Hills
Assets Held for Sale	Assets Held for Sale Assets held for sale are stated at the lower of cost less depreciation or expected net realizable value. Depreciation is computed using the straight-line method over estimated useful lives of 25 35,050 On November 11, 2021, the Company announced the sale of this building located at 2451 NW 28th Avenue, Portland, OR 97210 for $ 5,100,000 4,723,346 4,598,095 Leases The Company owns two office/industrial buildings with a total of 11,667 Leases As of November 30, 2021 and May 31, 2021, assets held for sale consisted of the following: Summary of Significant Accounting Policies - Schedule of Assets Held for Sale Assets Held for Sale November 30, 2021 May 31, 2021 Land $ 159,000 $ 140,000 Buildings and improvements 1,616,250 246,135 Total property and equipment held for sale 1,775,250 386,135 Less accumulated depreciation (1,341,840 ) (211,288 ) Total property and equipment held for sale, net $ 433,410 $ 174,847
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially expose the Company to concentration of credit risk are trade accounts receivable. Credit terms generally require an invoice to be paid within 30 to 60 days or include a discount of up to 1.5% if the invoice is paid within ten days, with the net amount payable in 30 days. Terms are set for each account depending on the customer's credit standing with the Company.
Financial Instruments	Financial Instruments The carrying value of all other financial instruments potentially subject to valuation risk (principally consisting of cash and cash equivalents, accounts receivable, accounts payable, the current portion of the PPP loans, customer deposits and prepayments) approximates fair value because of their short-term maturities.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Nov. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies - Schedule of Assets Held for Sale	As of November 30, 2021 and May 31, 2021, assets held for sale consisted of the following: Summary of Significant Accounting Policies - Schedule of Assets Held for Sale Assets Held for Sale November 30, 2021 May 31, 2021 Land $ 159,000 $ 140,000 Buildings and improvements 1,616,250 246,135 Total property and equipment held for sale 1,775,250 386,135 Less accumulated depreciation (1,341,840 ) (211,288 ) Total property and equipment held for sale, net $ 433,410 $ 174,847

RESTATEMENT OF PREVIOUSLY ISS_2

RESTATEMENT OF PREVIOUSLY ISSUED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Tables)	6 Months Ended
	Nov. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Restatement of Previously Issued Condensed Consolidated Financial Statements - Schedule of Prior Period Adjustments	The following reflects the restatement adjustments recorded in connection with the Company’s restatement of its consolidated financial statements: Restatement of Previously Issued Condensed Consolidated Financial Statements - Schedule of Prior Period Adjustments Balance Sheet As of November 30, 2021 As previously reported Total Adjustments As Restated Reference ASSETS Current Assets Cash and cash equivalents $ 4,572,774 $ — $ 4,572,774 Accounts receivable, net 1,385,185 — 1,385,185 Inventories, net 1,825,636 4,809 1,830,445 A Prepaid expenses 134,209 — 134,209 Income tax receivable 5,701 (2,573 ) 3,128 A Total current assets 7,923,505 2,236 7,925,741 A Leasehold assets 11,688,920 — 11,688,920 Property and equipment, net 2,316,494 12,721 2,329,215 A Property and equipment held for sale, net 433,410 — 433,410 Leasehold, utilities, and ERP deposits 657,490 64,283 721,773 A, B Other assets Intangible assets, net 273,968 — 273,968 Total Assets $ 23,293,787 $ 79,240 $ 23,373,027 A, B LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 677,791 $ (19,889 ) $ 657,902 A Accrued commissions 63,076 (4,997 ) 58,079 A Accrued payroll liabilities 614,483 — 614,483 Accrued liabilities 394,745 (497 ) 394,248 A Customer deposits and prepayments 117,754 — 117,754 Other accrued liabilities 389,213 382,451 771,664 A Current portion of long-term lease liabilities 1,224,648 — 1,224,648 Current portion of long-term debt 876,404 — 876,404 Total current liabilities 4,358,114 357,068 4,715,182 A Long-term debt 2,594,618 — 2,594,618 Long-term leasehold liabilities 11,359,230 — 11,359,230 Total liabilities 18,311,962 357,068 18,669,030 A Stockholders' equity Common stock, no par value, 20,000,000 shares authorized, 4,229,193 and 3,811,142 shares issued and outstanding at November 30, 2021, respectively 12,292,728 — 12,292,728 Accumulated deficit (7,310,903 ) (277,828 ) (7,588,731 ) A, B Total stockholders' equity 4,981,825 (277,828 ) 4,703,997 A, B TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 23,293,787 $ 79,240 $ 23,373,027 A, B Previously Reported Total Adjustments Statement of Operations For the three months ended November 30, 2021 As previously reported Total Adjustments As Restated Reference Net sales $ 2,961,965 $ — $ 2,961,965 Cost of revenue 1,356,874 (15,595 ) 1,341,279 A Gross profit 1,605,091 15,595 1,620,686 A Operating expenses Selling, general and administrative 4,161,890 (274,742 ) 3,887,148 A Research & development 5,580 — 5,580 Total operating expenses 4,167,470 (274,742 ) 3,892,728 A Operating loss (2,562,379 ) 290,337 (2,272,042 ) A Gain on sale of property and equipment 4,598,095 — 4,598,095 Interest expense (18,303 ) — (18,303 ) Other income, net 173,274 — 173,274 Income before income taxes 2,190,687 290,337 2,481,024 A Income tax provision (benefit) 2,775 (4,600 ) (1,825 ) A Net income $ 2,187,912 $ 294,937 $ 2,482,849 A Net income per common share: Basic $ 0.58 $ 0.08 $ 0.66 A Weighted average number of common shares, basic 3,784,000 — 3,784,000 Diluted $ 0.57 $ 0.08 $ 0.65 A Weighted average number of common shares, diluted 3,819,616 — 3,819,616 For the six months ended November 30, 2021 As previously reported Total Adjustments As Restated Net Sales $ 6,721,140 $ — $ 6,721,140 Cost of revenue 2,706,849 103,581 2,810,430 A Gross profit 4,014,291 (103,581 ) 3,910,710 A Operating expenses Selling, general and administrative 8,292,576 245,124 8,537,700 A Research & development 14,845 — 14,845 Total operating expenses 8,307,421 245,124 8,552,545 A Operating loss (4,293,130 ) (348,705 ) (4,641,835 ) A Gain on sale of property and equipment 4,598,095 — 4,598,095 Forgiveness of PPP loans 588,534 — 588,534 Interest expense (29,579 ) — (29,579 ) Other income, net 285,303 72,127 357,430 B Income before income taxes 1,149,223 (276,578 ) 872,645 A, B Income tax provision (benefit) 6,350 1,250 7,600 A Net income $ 1,142,873 $ (277,828 ) $ 865,045 A, B Net income per common share Basic $ 0.30 $ (0.07 ) $ 0.23 A, B Weighted average number of common shares, basic 3,785,997 — 3,785,997 Diluted $ 0.30 $ (0.07 ) $ 0.23 A, B Weighted average number of common shares, diluted 3,814,909 — 3,814,909 Statement of Cash Flows For the six months ended November 30, 2021 As previously reported Total Adjustments As Restated Reference Cash flows relating to operating activities Net income $ 1,142,873 $ (277,828 ) $ 865,045 A, B Adjustments to reconcile net income to net cash used in operating activities: Forgiveness of Paycheck Protection Program Loan (588,534 ) — (588,534 ) Depreciation and amortization 294,597 — 294,597 Gain on disposal of property and equipment (4,598,095 ) — (4,598,095 ) Stock-based compensation 69,369 — 69,369 Non-cash lease costs 159,248 — 159,248 (Increase) decrease in: Accounts receivable, net (230,540 ) — (230,540 ) Inventories, net (272,326 ) (4,809 ) (277,135 ) A Prepaid expenses 64,136 — 64,136 Rent, utility deposits, & ERP deposits (225,682 ) (64,283 ) (289,965 ) A, B Income taxes receivable 12,356 2,573 14,929 A (Increase) decrease in: Accounts payable 94,041 (19,889 ) 74,152 A Accrued liabilities and customer deposits (262,052 ) 376,958 114,906 A Net cash used in operating activities $ (4,340,609 ) $ 12,722 $ (4,327,887 ) A, B Cash flows relating to investing activities Purchases of property and equipment (181,707 ) (12,722 ) (194,429 ) A Proceeds from the sale of property and equipment 4,797,924 — 4,797,924 Net cash provided by investing activities $ 4,616,217 $ (12,722 ) $ 4,603,495 A Cash flows relating to financing activities Proceeds from Paycheck Protection Program $ 264,476 $ — $ 264,476 Net cash provided by financing activities $ 264,476 $ — $ 264,476 Increase in cash and cash equivalents 540,084 — $ 540,084 Cash and cash equivalents, beginning of period 4,032,690 — 4,032,690 Cash and cash equivalents, end of period $ 4,572,774 $ — $ 4,572,774 Supplemental disclosure of cash flow information Cash paid for income taxes, net of refunds $ 10,606 $ — $ 10,606 Cash paid for interest $ — $ — $ — Segment Information-Ice Cream For the three months ended November 30, 2021 As previously reported Total Adjustments As Restated Reference Revenue, net $ 1,979,616 $ — $ 1,979,616 Gross Margin $ 1,128,655 $ (24,512 ) $ 1,104,143 A Gross Margin % 57.0 % (1.2 %) 55.8 % A Operating loss $ (1,922,873 ) $ 190,542 $ (1,732,331 ) A Depreciation expense $ 106,747 $ — $ 106,747 Amortization expense $ 5,733 $ — $ 5,733 Capital expenditures $ 57,074 $ 11,053 $ 68,127 A For the six months ended November 30, 2021 As previously reported Total Adjustments As Restated Revenue, net $ 4,935,371 $ — $ 4,935,371 Gross Margin $ 3,137,845 $ (97,522 ) $ 3,040,323 A Gross Margin % 63.6 % (2.0 %) 61.6 % A Operating loss $ (3,138,091 ) $ (222,329 ) $ (3,360,420 ) A Depreciation expense $ 214,639 $ — $ 214,639 Amortization expense $ 11,466 $ — $ 11,466 Capital expenditures $ 181,707 $ 12,722 $ 194,429 A Segment Information-Measurement For the three months ended November 30, 2021 As previously reported Total Adjustments As Restated Revenue, net $ 982,349 $ — $ 982,349 Gross Margin $ 476,436 $ 40,107 $ 516,543 A Gross Margin % 48.5 % 4.1 % 52.6 % A Operating loss $ (639,506 ) $ 99,795 $ (539,711 ) A Depreciation expense $ 6,493 $ — $ 6,493 Amortization expense $ 26,145 $ — $ 26,145 Capital expenditures $ — $ — $ — For the six months ended November 30, 2021 As previously reported Total Adjustments As Restated Revenue, net $ 1,785,769 $ — $ 1,785,769 Gross Margin $ 876,446 $ (6,059 ) $ 870,387 A Gross Margin % 49.10 % (0.3 %) 48.8 % A Operating loss $ (1,155,039 ) $ (126,376 ) $ (1,281,415 ) A Depreciation expense $ 16,200 $ — $ 16,200 Amortization expense $ 52,292 $ — $ 52,292 Capital expenditures $ — $ — $ — Segment Information- Assets As of November 30, 2021 As previously reported Total Adjustments As Restated Ice Cream Segment $ 9,898,380 $ 81,814 $ 9,980,194 A, B Measurement Segment $ 2,270,087 $ (2,574 ) $ 2,267,513 A Corporate assets 11,125,320 — 11,125,320 Total Assets $ 23,293,787 $ 79,240 $ 23,373,027 A, B

NOTE 3 - AMPLE HILLS BUSINESS_2

NOTE 3 - AMPLE HILLS BUSINESS ACQUISITION (Tables)	6 Months Ended
	Nov. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Ample Hills Business Acquisition - Schedule of Purchase Price Allocation	The following table summarizes the Company's fair value of the assets acquired, and liabilities assumed, as of July 9, 2020, for the Company's acquisition of Ample Hills. Ample Hills Business Acquisition - Schedule of Purchase Price Allocation Purchase Price Cash paid to sellers $ 1,000,000 Cash paid for cure costs 713,404 Total Purchase Price $ 1,713,404 Purchase Price Allocation Assets Acquired Right-of-use operating lease assets 10,645,098 Website 25,445 Tradename and trademarks 903,422 Proprietary recipes 146,739 Security deposits 225,180 Machinery and equipment 564,553 Leasehold improvements 815,798 Inventory 632,100 Total assets acquired $ 13,958,335 Liabilities Assumed Right-of-use operating lease liabilities 10,645,098 Deferred tax liability 405,688 Customer deposits 20,204 Gift card liabilities 35,133 Total liabilities assumed $ 11,106,123 Net assets acquired 2,852,212 Gain on bargain purchase $ 1,138,808

STOCK OPTIONS AND STOCK-BASED_2

STOCK OPTIONS AND STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Nov. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock Options and Stock-Based Compensation - Schedule of Stock Option Activity	Outstanding Options Exercisable Options Number of Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Life (years) Number of Shares Weighted- Average Exercise Price 22,500 $ 1.70 5.3 22,500 $ 1.70
Stock Options and Stock-Based Compensation - Schedule of Restricted Stock Unit Activity	RSU activity under the Company's stock-based compensation plans during the six months ended November 30, 2021 is summarized as follows: Stock Options and Stock-Based Compensation - Schedule of Restricted Stock Unit Activity Number of Units Weighted-Average Price at Grant Date Aggregate Intrinsic Value Non-vested RSUs - May 31, 2021 34,237 $ 4.71 $ 161,400 RSUs granted 9,457 $ 4.18 39,551 RSUs vested (24,640 ) $ 4.06 (99,948 ) Non-vested RSUs – November 30, 2021 19,054 $ 5.30 $ 101,003

WEIGHTED-AVERAGE SHARES AND R_2

WEIGHTED-AVERAGE SHARES AND RECONCILIATION (Tables)	6 Months Ended
	Nov. 30, 2021
Net income (loss) per common share
Weighted-Average Shares and Reconciliation - Schedule of Weighted-Average Number of Shares	Basic weighted-average shares for the three and six months ended November 30, 2021 and November 30, 2020 were as follows: Weighted-Average Shares and Reconciliation - Schedule of Weighted-Average Number of Shares Three Months Ended Six Months Ended 2021 2020 2021 2020 Weighted-average shares (basic) 3,784,000 3,763,156 3,785,997 3,763,454 Effect of dilutive stock options 35,616 — 28,912 — Weighted-average shares (diluted) 3,819,616 3,763,156 3,814,909 3,763,454

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Nov. 30, 2021
Leases [Abstract]
Leases - Schedule of Future Minimum Lease Payments Receivable	Years Ending May 31, 2022 $ 19,682 2023 40,151 2024 41,356 2025 42,597 2026 14,338 Total undiscounted cash flow $ 158,124
Leases - Schedule of Future Minimum Lease Payments for Operating Leases	The Company's future minimum lease payments required under operating leases that have commenced as of November 30, 2021 were as follows: Leases - Schedule of Future Minimum Lease Payments for Operating Leases Other Liabilities Years Ending May 31, 2022 $ 777,027 2023 1,858,502 2024 1,866,585 2025 1,845,319 2026 1,619,558 Thereafter 7,146,576 Total lease payments 15,113,567 Less: imputed interest (2,529,689 ) Present value of lease payments 12,583,878 less: current lease obligations (1,224,648 ) Long-term lease obligations $ 11,359,230
Leases - Schedule of Lease Terms and Discount Rates	The Company’s lease term and discount rates were as follows: Leases - Schedule of Lease Terms and Discount Rates November 30, 2021 Weighted-average remaining lease term (years) 7.67 Weighted-average discount rate 3.87 %

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	6 Months Ended
	Nov. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net - Schedule of Property, Plant and Equipment, Net	The Company’s property and equipment, net consisted of the following: Property and Equipment, Net - Schedule of Property, Plant and Equipment, Net November 30, 2021 (As Restated) May 31, 2021 Land Land $ — $ 159,000 Buildings and improvements Buildings and Improvements 1,493,400 2,989,140 Furniture, fixtures and equipment Furniture, Fixtures and Equipment 1,827,315 1,788,784 Total property and equipment 3,320,715 4,936,924 Less: accumulated depreciation (991,500 ) (2,112,907 ) Total property and equipment, net $ 2,329,215 $ 2,824,017

ACCOUNTS RECEIVABLE, NET (Table

ACCOUNTS RECEIVABLE, NET (Tables)	6 Months Ended
	Nov. 30, 2021
Receivables [Abstract]
Accounts Receivable, Net - Schedule of Accounts Receivable, Net	The Company’s accounts receivable, net consisted of the following: Accounts Receivable, Net - Schedule of Accounts Receivable, Net November 30, May 31, 2021 2021 Accounts receivable $ 1,479,192 $ 1,252,968 Less: allowance for doubtful accounts (94,007 ) (98,323 ) Accounts receivable, net $ 1,385,185 $ 1,154,645

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	6 Months Ended
	Nov. 30, 2021
Inventory Disclosure [Abstract]
Inventories, Net - Schedule of Inventories, Current	The Company’s inventories, net consisted of the following: Inventories, Net - Schedule of Inventories, Current November 30, 2021 (As Restated) May 31, 2021 Raw materials $ 887,829 $ 901,464 Work-in-process 28,958 35,160 Finished goods 1,014,437 731,826 Total inventories 1,931,224 1,668,450 Less: inventory reserves (100,779 ) (115,140 ) Inventories, net $ 1,830,445 $ 1,553,310

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Nov. 30, 2021
Segment Reporting [Abstract]
Segment Information - Schedule of Segment Reporting Information by Segment	The following table present the activity for the three months ended November 30, 2021 and 2020: Segment Information - Schedule of Segment Reporting Information by Segment Three Months Ended November 30, 2021 (As Restated) 2020 Ice Cream Measurement Ice Cream Measurement Revenue, net $ 1,979,616 $ 982,349 $ 1,158,989 $ 870,723 Gross margin $ 1,104,143 $ 516,543 $ 467,714 $ 494,399 Gross margin % 55.8 % 52.6 % 40.4 % 56.8 % Operating loss $ (1,732,331 ) $ (539,711 ) $ (1,737,598 ) $ (409,682 ) Depreciation expense $ 106,747 $ 6,493 $ 59,160 $ 9,401 Amortization expense $ 5,733 $ 26,145 $ 6,017 $ 26,146 Capital expenditures $ 68,127 $ — $ 111,387 $ 13,680 The following table present the activity for the six months ended November 30, 2021 and 2020: Six Months Ended November 30, 2021 (As Restated) 2020 Ice Cream Measurement Ice Cream Measurement Revenue, net $ 4,935,371 $ 1,785,769 $ 1,660,409 $ 1,876,788 Gross margin $ 3,040,323 $ 870,387 $ 681,136 $ 888,621 Gross margin % 61.6 % 48.8 % 41.0 % 47.4 % Operating loss $ (3,360,420 ) $ (1,281,415 ) $ (2,700,352 ) $ (1,068,620 ) Depreciation expense $ 214,639 $ 16,200 $ 94,486 $ 30,309 Amortization expense $ 11,466 $ 52,292 $ 10,028 $ 52,291 Capital expenditures $ 194,429 $ — $ 232,051 $ 26,320
Segment Information - Schedule of Segment Reporting by Segment Assets	November 30, 2021 (As Restated) May 31, 2021 Segment assets to total assets Ice Cream Segment $ 9,980,194 $ 10,713,832 Measurement Segment 2,267,513 2,565,701 Corporate assets 11,125,320 7,894,397 Total assets $ 23,373,027 $ 21,173,930

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Nov. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets - Schedule of Finite-Lived Intangible Assets	The following tables present the major components of finite-intangible assets which are subject to amortization as of November 30, 2021 and May 31, 2021: Intangible Assets - Schedule of Finite-Lived Intangible Assets As of November 30, 2021 Useful Life (Years) Gross Carrying Value Accumulated Amortization Net Carrying Value Finite-lived intangible assets subject to amortization: Measurement Segment Patented technology Patented Technology 15 $ 1,663,538 $ (1,528,226 ) $ 135,312 Measurement Segment finite-lived assets 1,663,538 (1,528,226 ) 135,312 Ice Cream Segment Proprietary recipes 10 146,739 (21,244 ) 125,495 Company website 3 25,445 (12,284 ) 13,161 Ice Cream Segment finite-lived intangible assets 172,184 (33,528 ) 138,656 Total finite-lived intangible assets $ 1,835,722 $ (1,561,754 ) $ 273,968 As of May 31, 2021 Useful Life (Years) Gross Carrying Value Accumulated Amortization Net Carrying Value Finite-lived intangible assets subject to amortization: Measurement Segment Patented technology 15 $ 1,663,538 $ (1,475,935 ) $ 187,603 Measurement Segment finite-lived assets 1,663,538 (1,475,935 ) 187,603 Ice Cream Segment Proprietary recipes 10 146,739 (13,934 ) 132,805 Company website 3 25,445 (8,128 ) 17,317 Ice Cream Segment finite-lived intangible assets 172,184 (22,062 ) 150,122 Total finite-lived intangible assets $ 1,835,722 $ (1,497,997 ) $ 337,725
Intangible Assets - Schedule of Finite-Lived Intangible Assets Future Amortization Expense	Estimated amortization expense for each of the following years is as follows: Intangible Assets - Schedule of Finite-Lived Intangible Assets Future Amortization Expense Year Ending May 31, 2022 $ 68,341 2023 101,370 2024 15,313 2025 14,621 2026 14,621 Thereafter 59,702 Total expected amortization expense $ 273,968

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Nov. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt - Schedule of Long-Term Debt	Loan Amount Issuance Date Maturity Period Interest Rate PPP Loans Ample Hills $ 1,471,022 July 30, 2020 5 1.0 Ample Hills 2,000,000 April 6, 2021 5 1.0 Total PPP Loan Balance $ 3,471,022
Long-Term Debt - Schedule of Debt	As of November 30, 2021 and May 31, 2021, the Company has the following current and long-term liabilities recorded for the PPP loans: Long-Term Debt - Schedule of Debt November 30, 2021 May 31, 2021 PPP Loan Balance Current $ 876,404 $ 541,691 Long-term 2,594,618 3,253,389 Total PPP Loan Balance $ 3,471,022 $ 3,795,080

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Assets Held for Sale (Details) - USD ($)	Nov. 30, 2021	May 31, 2021
Long Lived Assets Held-for-sale [Line Items]
Total property and equipment held for sale	$ 3,320,715	$ 4,936,924
Less accumulated depreciation	(991,500)	(2,112,907)
Total property and equipment held for sale, net	2,329,215	2,824,017
Assets Held for Sale
Long Lived Assets Held-for-sale [Line Items]
Land	159,000	140,000
Buildings and improvements	1,616,250	246,135
Total property and equipment held for sale	1,775,250	386,135
Less accumulated depreciation	(1,341,840)	(211,288)
Total property and equipment held for sale, net	$ 433,410	$ 174,847

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	3 Months Ended		6 Months Ended
	Nov. 30, 2021 USD ($) ft²	Nov. 30, 2020 USD ($)	Nov. 30, 2021 USD ($) ft²	Nov. 30, 2020 USD ($)	May 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Cash and cash equivalents	$ 4,572,774		$ 4,572,774		$ 4,032,690
Value of building sold	5,100,000		5,100,000
Proceeds from sale of building, net			4,723,346
Gain on sale of property and equipment	$ 4,598,095	$ 0	$ 4,598,095	$ 0
Assets Held for Sale
Property, Plant and Equipment [Line Items]
Estimated useful lives			25 years
Industrial buildings | ft²	35,050		35,050
Assets Held for Sale | 2765 NW Nicolai Street, Portland, Oregon
Property, Plant and Equipment [Line Items]
Industrial buildings | ft²	11,667		11,667
Investor
Property, Plant and Equipment [Line Items]
Commitment for additional capital	$ 1,300,000		$ 1,300,000

Restatement of Previously Iss_3

Restatement of Previously Issued Condensed Consolidated Financial Statements - Schedule of Prior Period Adjustments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020	May 31, 2021	May 31, 2020
Current Assets
Cash and cash equivalents	$ 4,572,774		$ 4,572,774		$ 4,032,690
Accounts receivable, net	1,385,185		1,385,185		1,154,645
Inventories, net	1,830,445		1,830,445		1,553,310
Prepaid expenses	134,209		134,209		198,345
Income tax receivable	3,128		3,128		18,057
Total current assets	7,925,741		7,925,741		6,957,047
Leasehold assets	11,688,920		11,688,920		10,448,486
Property and equipment, net	2,329,215		2,329,215		2,824,017
Property and equipment held for sale, net	433,410		433,410		174,847
Leasehold, utilities, and ERP deposits	721,773		721,773		431,808
Other assets
Intangible assets, net	273,968		273,968		337,725
Total assets	23,373,027		23,373,027		21,173,930
Current liabilities
Accounts payable	657,902		657,902		583,750
Accrued commissions	58,079		58,079		60,614
Accrued payroll liabilities	614,483		614,483		527,608
Accrued liabilities	394,248		394,248		465,146
Customer deposits and prepayments	117,754		117,754		93,364
Other accrued liabilities	771,664		771,664		694,590
Current portion of long-term lease liabilities	1,224,648		1,224,648		1,042,331
Current portion of long-term debt	876,404		876,404		541,691
Total current liabilities	4,715,182		4,715,182		4,009,094
Long-term debt	2,594,618		2,594,618		3,253,389
Long-term leasehold liabilities	11,359,230		11,359,230		10,141,864
Total liabilities	18,669,030		18,669,030		17,404,347
Stockholders' equity
Common stock, no par value, 20,000,000 shares authorized, 4,229,193 and 3,811,142 shares issued and outstanding at November 30, 2021, respectively	12,292,728		12,292,728		12,223,359
Accumulated deficit	(7,588,731)		(7,588,731)		(8,453,776)
Total stockholders' equity	4,703,997	$ 9,694,246	4,703,997	$ 9,694,246	3,769,583	$ 11,893,202
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	23,373,027		23,373,027		21,173,930
Net Sales	2,961,965	2,029,712	6,721,140	3,537,197
Cost of revenue	1,341,279	1,067,599	2,810,430	1,967,440
Gross Margin	1,620,686	962,113	3,910,710	1,569,757
Operating expenses
Selling, general and administrative	3,887,148	3,091,516	8,537,700	5,178,232
Research & development	5,580	17,877	14,845	35,330
Total operating expenses	3,892,728	3,109,393	8,552,545	5,338,729
Operating loss	(2,272,042)	(2,147,280)	(4,641,835)	(3,768,972)
Gain on sale of property and equipment	4,598,095	0	4,598,095	0
Interest expense	(18,303)	(1,285)	(29,579)	(2,544)
Other income, net	173,274	(134,164)	357,430	(36,836)
Income before income taxes	2,481,024	(2,364,832)	872,645	(2,618,840)
Income tax provision (benefit)	(1,825)	1,637	7,600	(403,030)
Net income	$ 2,482,849	$ (2,366,469)	$ 865,045	$ (2,215,810)
Net income per common share
Basic	$ 0.66	$ (0.63)	$ 0.23	$ (0.59)
Weighted average number of common shares, basic	3,784,000	3,763,156	3,785,997	3,763,454
Diluted	$ 0.65	$ (0.63)	$ 0.23	$ (0.59)
Weighted average number of common shares, diluted	3,819,616	3,763,156	3,814,909	3,763,454
Forgiveness of PPP loans	$ 0	$ 0	$ 588,534	$ 0
Adjustments to reconcile net income to net cash used in operating activities:
Forgiveness of Paycheck Protection Program Loan	0	0	(588,534)	0
Depreciation and amortization			294,597	187,114
Gain on disposal of property and equipment	(4,598,095)	0	(4,598,095)	0
Stock-based compensation			69,369	251,371
Non-cash lease costs			159,248	0
(Increase) decrease in:
Accounts receivable, net			(230,540)	(220,514)
Inventories, net			(277,135)	(60,250)
Prepaid expenses			64,136	(46,883)
Rent, utility deposits, & ERP deposits			(289,965)	(79,170)
Income taxes receivable			14,929	(80,602)
Accounts payable			74,152	503,864
Accrued liabilities and customer deposits			114,906	433,514
Net cash used in operating activities			(4,327,887)	(2,783,686)
Cash flows relating to investing activities
Purchases of property and equipment			(194,429)	(258,371)
Proceeds from the sale of property and equipment			4,797,924	0
Net cash provided by investing activities			4,603,495	(1,969,498)
Cash flows relating to financing activities
Proceeds from Paycheck Protection Program			264,476	1,795,080
Net cash provided by financing activities			264,476	1,524,122
Increase in cash and cash equivalents			540,084	(3,229,062)
Cash and cash equivalents, beginning of period			4,032,690	10,566,531
Cash and cash equivalents, end of period	4,572,774	7,337,469	4,572,774	7,337,469
Supplemental disclosure of cash flow information
Cash paid for income taxes, net of refunds			10,606	80,600
Cash paid for interest			0	616
Ice Cream
Other assets
Total assets	9,980,194		9,980,194		10,713,832
Stockholders' equity
Gross Margin	1,104,143	467,714	3,040,323	681,136
Operating expenses
Operating loss	(1,732,331)	(1,737,598)	(3,360,420)	(2,700,352)
Supplemental disclosure of cash flow information
Revenue, net	$ 1,979,616	$ 1,158,989	$ 4,935,371	$ 1,660,409
Gross margin %	55.80%	40.40%	61.60%	41%
Depreciation expense	$ 106,747	$ 59,160	$ 214,639	$ 94,486
Amortization expense	5,733	6,017	11,466	10,028
Capital expenditures	68,127	111,387	194,429	232,051
Measurement
Other assets
Total assets	2,267,513		2,267,513		2,565,701
Stockholders' equity
Gross Margin	516,543	494,399	870,387	888,621
Operating expenses
Operating loss	(539,711)	(409,682)	(1,281,415)	(1,068,620)
Supplemental disclosure of cash flow information
Revenue, net	$ 982,349	$ 870,723	$ 1,785,769	$ 1,876,788
Gross margin %	52.60%	56.80%	48.80%	47.40%
Depreciation expense	$ 6,493	$ 9,401	$ 16,200	$ 30,309
Amortization expense	26,145	26,146	52,292	52,291
Capital expenditures		$ 13,680		$ 26,320
Corporate Assets
Other assets
Total assets	11,125,320		11,125,320		$ 7,894,397
Previously Reported
Current Assets
Cash and cash equivalents	4,572,774		4,572,774
Accounts receivable, net	1,385,185		1,385,185
Inventories, net	1,825,636		1,825,636
Prepaid expenses	134,209		134,209
Income tax receivable	5,701		5,701
Total current assets	7,923,505		7,923,505
Leasehold assets	11,688,920		11,688,920
Property and equipment, net	2,316,494		2,316,494
Property and equipment held for sale, net	433,410		433,410
Leasehold, utilities, and ERP deposits	657,490		657,490
Other assets
Intangible assets, net	273,968		273,968
Total assets	23,293,787		23,293,787
Current liabilities
Accounts payable	677,791		677,791
Accrued commissions	63,076		63,076
Accrued payroll liabilities	614,483		614,483
Accrued liabilities	394,745		394,745
Customer deposits and prepayments	117,754		117,754
Other accrued liabilities	389,213		389,213
Current portion of long-term lease liabilities	1,224,648		1,224,648
Current portion of long-term debt	876,404		876,404
Total current liabilities	4,358,114		4,358,114
Long-term debt	2,594,618		2,594,618
Long-term leasehold liabilities	11,359,230		11,359,230
Total liabilities	18,311,962		18,311,962
Stockholders' equity
Common stock, no par value, 20,000,000 shares authorized, 4,229,193 and 3,811,142 shares issued and outstanding at November 30, 2021, respectively	12,292,728		12,292,728
Accumulated deficit	(7,310,903)		(7,310,903)
Total stockholders' equity	4,981,825		4,981,825
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	23,293,787		23,293,787
Net Sales	2,961,965		6,721,140
Cost of revenue	1,356,874		2,706,849
Gross Margin	1,605,091		4,014,291
Operating expenses
Selling, general and administrative	4,161,890		8,292,576
Research & development	5,580		14,845
Total operating expenses	4,167,470		8,307,421
Operating loss	(2,562,379)		(4,293,130)
Gain on sale of property and equipment	4,598,095		4,598,095
Interest expense	(18,303)		(29,579)
Other income, net	173,274		285,303
Income before income taxes	2,190,687		1,149,223
Income tax provision (benefit)	2,775		6,350
Net income	$ 2,187,912		$ 1,142,873
Net income per common share
Basic	$ 0.58		$ 0.30
Weighted average number of common shares, basic	3,784,000		3,785,997
Diluted	$ 0.57		$ 0.30
Weighted average number of common shares, diluted	3,819,616		3,814,909
Forgiveness of PPP loans			$ 588,534
Adjustments to reconcile net income to net cash used in operating activities:
Forgiveness of Paycheck Protection Program Loan			(588,534)
Depreciation and amortization			294,597
Gain on disposal of property and equipment	$ (4,598,095)		(4,598,095)
Stock-based compensation			69,369
Non-cash lease costs			159,248
(Increase) decrease in:
Accounts receivable, net			(230,540)
Inventories, net			(272,326)
Prepaid expenses			64,136
Rent, utility deposits, & ERP deposits			(225,682)
Income taxes receivable			12,356
Accounts payable			94,041
Accrued liabilities and customer deposits			(262,052)
Net cash used in operating activities			(4,340,609)
Cash flows relating to investing activities
Purchases of property and equipment			(181,707)
Proceeds from the sale of property and equipment			4,797,924
Net cash provided by investing activities			4,616,217
Cash flows relating to financing activities
Proceeds from Paycheck Protection Program			264,476
Net cash provided by financing activities			264,476
Increase in cash and cash equivalents			540,084
Cash and cash equivalents, beginning of period			4,032,690
Cash and cash equivalents, end of period	4,572,774		4,572,774
Supplemental disclosure of cash flow information
Cash paid for income taxes, net of refunds			10,606
Cash paid for interest			0
Previously Reported | Ice Cream
Other assets
Total assets	9,898,380		9,898,380
Stockholders' equity
Gross Margin	1,128,655		3,137,845
Operating expenses
Operating loss	(1,922,873)		(3,138,091)
Supplemental disclosure of cash flow information
Revenue, net	$ 1,979,616		$ 4,935,371
Gross margin %	57%		63.60%
Depreciation expense	$ 106,747		$ 214,639
Amortization expense	5,733		11,466
Capital expenditures	57,074		181,707
Previously Reported | Measurement
Other assets
Total assets	2,270,087		2,270,087
Stockholders' equity
Gross Margin	476,436		876,446
Operating expenses
Operating loss	(639,506)		(1,155,039)
Supplemental disclosure of cash flow information
Revenue, net	$ 982,349		$ 1,785,769
Gross margin %	48.50%		49.10%
Depreciation expense	$ 6,493		$ 16,200
Amortization expense	26,145		52,292
Capital expenditures
Previously Reported | Corporate Assets
Other assets
Total assets	11,125,320		11,125,320
Total Adjustments
Current Assets
Cash and cash equivalents
Accounts receivable, net
Inventories, net	4,809		4,809
Prepaid expenses
Income tax receivable	(2,573)		(2,573)
Total current assets	2,236		2,236
Leasehold assets
Property and equipment, net	12,721		12,721
Property and equipment held for sale, net
Leasehold, utilities, and ERP deposits	64,283		64,283
Other assets
Intangible assets, net
Total assets	79,240		79,240
Current liabilities
Accounts payable	(19,889)		(19,889)
Accrued commissions	(4,997)		(4,997)
Accrued payroll liabilities
Accrued liabilities	(497)		(497)
Customer deposits and prepayments
Other accrued liabilities	382,451		382,451
Current portion of long-term lease liabilities
Current portion of long-term debt
Total current liabilities	357,068		357,068
Long-term debt
Long-term leasehold liabilities
Total liabilities	357,068		357,068
Stockholders' equity
Common stock, no par value, 20,000,000 shares authorized, 4,229,193 and 3,811,142 shares issued and outstanding at November 30, 2021, respectively
Accumulated deficit	(277,828)		(277,828)
Total stockholders' equity	(277,828)		(277,828)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	79,240		79,240
Net Sales
Cost of revenue	(15,595)		103,581
Gross Margin	15,595		(103,581)
Operating expenses
Selling, general and administrative	(274,742)		245,124
Research & development
Total operating expenses	(274,742)		245,124
Operating loss	290,337		(348,705)
Gain on sale of property and equipment			0
Interest expense
Other income, net			72,127
Income before income taxes	290,337		(276,578)
Income tax provision (benefit)	(4,600)		1,250
Net income	$ 294,937		$ (277,828)
Net income per common share
Basic	$ 0.08		$ (0.07)
Weighted average number of common shares, basic
Diluted	$ 0.08		$ (0.07)
Weighted average number of common shares, diluted
Forgiveness of PPP loans			$ 0
Adjustments to reconcile net income to net cash used in operating activities:
Forgiveness of Paycheck Protection Program Loan			0
Depreciation and amortization			0
Gain on disposal of property and equipment			0
Stock-based compensation			0
Non-cash lease costs			0
(Increase) decrease in:
Accounts receivable, net			0
Inventories, net			(4,809)
Prepaid expenses			0
Rent, utility deposits, & ERP deposits			(64,283)
Income taxes receivable			2,573
Accounts payable			(19,889)
Accrued liabilities and customer deposits			376,958
Net cash used in operating activities			12,722
Cash flows relating to investing activities
Purchases of property and equipment			(12,722)
Proceeds from the sale of property and equipment			0
Net cash provided by investing activities			(12,722)
Cash flows relating to financing activities
Proceeds from Paycheck Protection Program			0
Net cash provided by financing activities			0
Increase in cash and cash equivalents			0
Cash and cash equivalents, beginning of period			0
Cash and cash equivalents, end of period	0		0
Supplemental disclosure of cash flow information
Cash paid for income taxes, net of refunds			0
Cash paid for interest			0
Total Adjustments | Ice Cream
Other assets
Total assets	81,814		81,814
Stockholders' equity
Gross Margin	(24,512)		(97,522)
Operating expenses
Operating loss	190,542		(222,329)
Supplemental disclosure of cash flow information
Revenue, net	$ 0		$ 0
Gross margin %	(1.20%)		(2.00%)
Depreciation expense	$ 0		$ 0
Amortization expense	0		0
Capital expenditures	11,053		12,722
Total Adjustments | Measurement
Other assets
Total assets	(2,574)		(2,574)
Stockholders' equity
Gross Margin	40,107		(6,059)
Operating expenses
Operating loss	99,795		(126,376)
Supplemental disclosure of cash flow information
Revenue, net	$ 0		$ 0
Gross margin %	4.10%		(0.30%)
Depreciation expense	$ 0		$ 0
Amortization expense	0		0
Capital expenditures
Total Adjustments | Corporate Assets
Other assets
Total assets

RESTATEMENT OF PREVIOUSLY ISS_4

RESTATEMENT OF PREVIOUSLY ISSUED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Details Narrative)	6 Months Ended
	Nov. 30, 2021 USD ($)
Accounting Changes and Error Corrections [Abstract]
Leasehold security deposit	$ 72,000

Ample Hills Business Acquisitio

Ample Hills Business Acquisition - Schedule of Purchase Price Allocation (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jul. 09, 2020	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020
Purchase Price
Cash paid to sellers	$ 1,000,000
Cash paid for cure costs	713,404
Total purchase price	1,713,404
Assets Acquired
Right-of-use operating lease assets	10,645,098
Website	25,445
Tradename and trademarks	903,422
Proprietary recipes	146,739
Security deposits	225,180
Machinery and equipment	564,553
Leasehold improvements	815,798
Inventory	632,100
Total assets acquired	13,958,335
Liabilities Assumed
Right-of-use operating lease liabilities	10,645,098
Deferred tax liability	405,688
Customer deposits	20,204
Gift card liabilities	35,133
Total liabilities assumed	11,106,123
Net assets acquired	2,852,212
Gain on bargain purchase	$ 1,138,808				$ 1,189,512

NOTE 3 - AMPLE HILLS BUSINESS_3

NOTE 3 - AMPLE HILLS BUSINESS ACQUISITION (Details Narrative) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 09, 2020	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020	May 31, 2021
Business Combination and Asset Acquisition [Abstract]
Cash paid to sellers						$ 1,000,000
Additional payout to certain landlords						700,000
Transaction costs						$ 125,167
Gain on bargain purchase	$ 1,138,808				$ 1,189,512

Stock Options and Stock-Based_3

Stock Options and Stock-Based Compensation - Schedule of Stock Option Activity (Details)	6 Months Ended
	Nov. 30, 2021 $ / shares shares
Share-based Payment Arrangement [Abstract]
Outstanding Options, number of shares | shares	22,500
Outstanding options, weighted-average exercise price | $ / shares	$ 1.70
Outstanding options, weighted-average remaining contractual life	5 years 3 months 18 days
Exercisable options, number of shares | shares	22,500
Exercisable options, weighted-average exercise price | $ / shares	$ 1.70

Stock Options and Stock-Based_4

Stock Options and Stock-Based Compensation - Schedule of Restricted Stock Unit Activity (Details)	6 Months Ended
	Nov. 30, 2021 USD ($) $ / shares shares
Share-based Payment Arrangement [Abstract]
Non-vested restricted stock units, beginning of period | shares	34,237
Non-vested restricted stock units, weighted average price at grant date | $ / shares	$ 4.71
Non-vested restricted stock units, aggregate intrinsic value | $	$ 161,400
RSUs granted | shares	9,457
Restricted stock units granted, weighted average price at grant date | $ / shares	$ 4.18
Restricted stock units granted, aggregate intrinsic value | $	$ 39,551
RSUs vested | shares	(24,640)
Restricted stock units vested, weighted average price at grant date | $ / shares	$ 4.06
Restricted stock units vested, aggregate intrinsic value | $	$ (99,948)
Non-vested restricted stock units, end of period | shares	19,054
Non-vested restricted stock units, weighted average price at grant date | $ / shares	$ 5.30
Non-vested restricted stock units, aggregate intrinsic value | $	$ 101,003

STOCK OPTIONS AND STOCK-BASED_5

STOCK OPTIONS AND STOCK-BASED COMPENSATION (Details Narrative)	3 Months Ended	6 Months Ended
	Nov. 30, 2021 USD ($) $ / shares shares	Nov. 30, 2021 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding	22,500	22,500
Weighted-average exercise price | $ / shares	$ 1.70	$ 1.70
Restricted stock units, granted		9,457
Restricted stock unit compensation expense | $	$ 42,422	$ 69,369
Compensation expense with a time vesting condition | $	$ 57,548	$ 57,548
Restricted Stock Units - Service-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, granted		9,457

Weighted-Average Shares and R_3

Weighted-Average Shares and Reconciliation - Schedule of Weighted-Average Number of Shares (Details) - shares	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020
Net income (loss) per common share
Weighted-average shares (basic)	3,784,000	3,763,156	3,785,997	3,763,454
Effect of dilutive stock options	35,616		28,912
Weighted-average shares (diluted)	3,819,616	3,763,156	3,814,909	3,763,454

WEIGHTED-AVERAGE SHARES AND R_4

WEIGHTED-AVERAGE SHARES AND RECONCILIATION (Details Narrative)	6 Months Ended
	Nov. 30, 2021 $ / shares shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price	$ 1.70
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities | shares	22,500
Exercise price	$ 1.70

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Receivable (Details) - Humboldt Lease [Member]	Nov. 30, 2021 USD ($)
Lessee, Lease, Description [Line Items]
2022	$ 19,682
2023	40,151
2024	41,356
2025	42,597
2026	14,338
Total undiscounted cash flow	$ 158,124

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Details) - USD ($)	Nov. 30, 2021	May 31, 2021
less: current lease obligations	$ (1,224,648)	$ (1,042,331)
Other Liabilities
2022	777,027
2023	1,858,502
2024	1,866,585
2025	1,845,319
2026	1,619,558
Thereafter	7,146,576
Total lease payments	15,113,567
Less: imputed interest	(2,529,689)
Present value of lease payments	12,583,878
less: current lease obligations	(1,224,648)
Long-term lease obligations	$ 11,359,230

Leases - Schedule of Lease Term

Leases - Schedule of Lease Terms and Discount Rates (Details)	Nov. 30, 2021
Leases [Abstract]
Weighted-average remaining lease term	7 years 8 months 1 day
Weighted-average discount rate	3.87%

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020
Lessee, Lease, Description [Line Items]
Value of building sold	$ 5,100,000		$ 5,100,000
Proceeds from sale of building, net			4,723,346
Lease expense	$ 486,039	$ 424,284	926,903	$ 690,092
Triple-Net Lease Agreement, Tosei America, Inc.
Lessee, Lease, Description [Line Items]
Lease payment			$ 23,282
Term of contract	120 months		120 months
Triple-Net Lease Agreement, Humboldt Lease
Lessee, Lease, Description [Line Items]
Lease payment			$ 3,185
Term of contract	62 months		62 months
Triple-Net Lease Agreement, The Second Humboldt Lease
Lessee, Lease, Description [Line Items]
Lease payment			$ 4,596
Term of contract	59 months		59 months

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Details) - USD ($)	Nov. 30, 2021	May 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment, net	$ 3,320,715	$ 4,936,924
Less accumulated depreciation	(991,500)	(2,112,907)
Total property and equipment, net	2,329,215	2,824,017
Land
Property, Plant and Equipment [Line Items]
Total property and equipment, net	0	159,000
Buildings and Improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, net	1,493,400	2,989,140
Furniture, Fixtures and Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, net	$ 1,827,315	$ 1,788,784

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 113,240	$ 68,561	$ 230,839	$ 124,795

CUSTOMER CONCENTRATION (Details

CUSTOMER CONCENTRATION (Details Narrative)	3 Months Ended	6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020
Revenue | Customer
Concentration Risk [Line Items]
Customer concentration	11%	16.20%

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Details) - USD ($)	Nov. 30, 2021	May 31, 2021
Receivables [Abstract]
Accounts receivable	$ 1,479,192	$ 1,252,968
Less: allowance for doubtful accounts	(94,007)	(98,323)
Accounts receivable, net	$ 1,385,185	$ 1,154,645

Inventories, Net - Schedule of

Inventories, Net - Schedule of Inventories, Current (Details) - USD ($)	Nov. 30, 2021	May 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 887,829	$ 901,464
Work-in-process	28,958	35,160
Finished goods	1,014,437	731,826
Total inventories	1,931,224	1,668,450
Less: inventory reserves	(100,779)	(115,140)
Inventories, net	$ 1,830,445	$ 1,553,310

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	0.10%	0.10%	0.60%	15.40%

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information by Segment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020
Segment Reporting Information [Line Items]
Gross margin	$ 1,620,686	$ 962,113	$ 3,910,710	$ 1,569,757
Operating loss	(2,272,042)	(2,147,280)	(4,641,835)	(3,768,972)
Ice Cream
Segment Reporting Information [Line Items]
Revenue, net	1,979,616	1,158,989	4,935,371	1,660,409
Gross margin	$ 1,104,143	$ 467,714	$ 3,040,323	$ 681,136
Gross margin %	55.80%	40.40%	61.60%	41%
Operating loss	$ (1,732,331)	$ (1,737,598)	$ (3,360,420)	$ (2,700,352)
Depreciation expense	106,747	59,160	214,639	94,486
Amortization expense	5,733	6,017	11,466	10,028
Capital expenditures	68,127	111,387	194,429	232,051
Measurement
Segment Reporting Information [Line Items]
Revenue, net	982,349	870,723	1,785,769	1,876,788
Gross margin	$ 516,543	$ 494,399	$ 870,387	$ 888,621
Gross margin %	52.60%	56.80%	48.80%	47.40%
Operating loss	$ (539,711)	$ (409,682)	$ (1,281,415)	$ (1,068,620)
Depreciation expense	6,493	9,401	16,200	30,309
Amortization expense	26,145	26,146	52,292	52,291
Capital expenditures		$ 13,680		$ 26,320

Segment Information - Schedul_2

Segment Information - Schedule of Segment Reporting by Segment Assets (Details) - USD ($)	Nov. 30, 2021	May 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 23,373,027	$ 21,173,930
Ice Cream
Segment Reporting Information [Line Items]
Total assets	9,980,194	10,713,832
Measurement
Segment Reporting Information [Line Items]
Total assets	2,267,513	2,565,701
Corporate Assets
Segment Reporting Information [Line Items]
Total assets	$ 11,125,320	$ 7,894,397

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($)	6 Months Ended	12 Months Ended
	Nov. 30, 2021	May 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Gross carrying value	$ 1,835,722	$ 1,835,722
Accumulated amortization	(1,561,754)	(1,497,997)
Net carrying value	273,968	337,725
Measurement
Indefinite-lived Intangible Assets [Line Items]
Gross carrying value	1,663,538	1,663,538
Accumulated amortization	(1,528,226)	(1,475,935)
Net carrying value	$ 135,312	$ 187,603
Measurement | Patented Technology
Indefinite-lived Intangible Assets [Line Items]
Useful life	15 years	15 years
Gross carrying value	$ 1,663,538	$ 1,663,538
Accumulated amortization	(1,528,226)	(1,475,935)
Net carrying value	135,312	187,603
Ice Cream
Indefinite-lived Intangible Assets [Line Items]
Gross carrying value	172,184	172,184
Accumulated amortization	(33,528)	(22,062)
Net carrying value	$ 138,656	$ 150,122
Ice Cream | Proprietary Recipes
Indefinite-lived Intangible Assets [Line Items]
Useful life	10 years	10 years
Gross carrying value	$ 146,739	$ 146,739
Accumulated amortization	(21,244)	(13,934)
Net carrying value	$ 125,495	$ 132,805
Ice Cream | Company Website
Indefinite-lived Intangible Assets [Line Items]
Useful life	3 years	3 years
Gross carrying value	$ 25,445	$ 25,445
Accumulated amortization	(12,284)	(8,128)
Net carrying value	$ 13,161	$ 17,317

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Finite-Lived Intangible Assets Future Amortization Expense (Details)	Nov. 30, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 68,341
2023	101,370
2024	15,313
2025	14,621
2026	14,621
Thereafter	59,702
Total expected amortization expense	$ 273,968

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020	May 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets					$ 903,422
Remaining amortization period			4 years 7 months 13 days
Accumulated amortization			$ 1,561,754		1,497,997
Measurement
Indefinite-lived Intangible Assets [Line Items]
Remaining amortization period			1 year 3 months
Amortizable intangible assets	$ 1,663,538		$ 1,663,538		1,663,538
Accumulated amortization			1,528,226		1,475,935
Amortization expense	26,145	$ 26,146	52,292	$ 52,291
Accumulated amortization			$ 1,528,226		1,475,935
Ice Cream
Indefinite-lived Intangible Assets [Line Items]
Remaining amortization period			7 years 11 months 1 day
Amortizable intangible assets	172,184		$ 172,184		172,184
Amortization expense	$ 5,733	$ 6,017	11,466	$ 10,028
Accumulated amortization			$ 33,528		$ 22,062

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - Paycheck Protection Program	6 Months Ended
	Nov. 30, 2021 USD ($)
Debt Instrument [Line Items]
Loan amount	$ 3,471,022
Ample Hills
Debt Instrument [Line Items]
Loan amount	$ 1,471,022
Issuance date	Jul. 30, 2020
Maturity period	5 years
Interest rate	1%
Ample Hills #2
Debt Instrument [Line Items]
Loan amount	$ 2,000,000
Issuance date	Apr. 06, 2021
Maturity period	5 years
Interest rate	1%

Long-Term Debt - Schedule of De

Long-Term Debt - Schedule of Debt (Details) - USD ($)	Nov. 30, 2021	May 31, 2021
Debt Instrument [Line Items]
Current	$ 876,404	$ 541,691
Long-term	2,594,618	3,253,389
Paycheck Protection Program
Debt Instrument [Line Items]
Current	876,404	541,691
Long-term	2,594,618	3,253,389
Total PPP loan balance	$ 3,471,022	$ 3,795,080

LONG-TERM DEBT (Details Narrati

LONG-TERM DEBT (Details Narrative) - USD ($)	12 Months Ended
	May 31, 2021	Nov. 30, 2021
Debt Instrument [Line Items]
Current portion of long-term debt	$ 541,691	$ 876,404
Paycheck Protection Program
Debt Instrument [Line Items]
Loan payable		3,471,022
Current portion of long-term debt	541,691	876,404
Loan amount		$ 3,471,022
Repayment of PPP loan	264,476
Paycheck Protection Program | Schmitt Industries
Debt Instrument [Line Items]
Loan amount	$ 588,534

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2021	Nov. 30, 2020	Nov. 30, 2021	Nov. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Royalty expense	$ 11,787	$ 6,506	$ 19,429	$ 12,486
Tax liability	$ 265,349		$ 265,349