Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
Aug. 31, 2020 |
Aug. 31, 2019 |
| Operating activities |
|
|
| Net Income |
$ 75,246
|
$ 374,473
|
| Adjustments to reconcile net income to cash |
|
|
| Depreciation and amortization |
2,442
|
1,286
|
| Deferred tax expense |
|
48,000
|
| Provision for uncollectible accounts, net of recoveries |
(7,540)
|
(15,372)
|
| Noncash lease expense |
74,484
|
52,398
|
| Changes in: |
|
|
| Trade accounts receivable and notes receivable |
(8,136)
|
6,606
|
| Marketing fund contributions receivable |
(3,999)
|
(4,470)
|
| Prepaid expenses and other |
(11,229)
|
(23,709)
|
| Accounts payable |
5,905
|
(17,403)
|
| Accrued liabilities |
(84,717)
|
(59,740)
|
| Unexpended marketing fund contributions |
(99,812)
|
(54,844)
|
| Deferred revenue |
8,650
|
(29,979)
|
| Net Cash (Used In)/ Provided by Operating Activities |
(48,706)
|
277,246
|
| Investing activities |
|
|
| Capitalization of trademark renewals |
(10,497)
|
(5,920)
|
| Net Cash Used In Investing Activities |
(10,497)
|
(5,920)
|
| Financing activities |
|
|
| Loan proceeds |
228,155
|
|
| Cash distributions/dividends |
(290,540)
|
(363,176)
|
| Net Cash Used In Financing Activities |
(62,385)
|
(363,176)
|
| Net Decrease in Cash, Cash Equivalents and Restricted Cash |
(121,588)
|
(91,850)
|
| Cash, Cash Equivalents and Restricted Cash - Beginning of Period |
1,495,669
|
1,509,227
|
| Cash, Cash Equivalents and Restricted Cash - End of Period |
1,374,081
|
1,417,377
|
| Supplemental disclosure of cash flow information: |
|
|
| Interest paid |
|
|
| Income taxes paid |
$ 36,012
|
$ 2,800
|