GREYSTONE LOGISTICS INC
For the period ended May 31, 2024. Filed Sep 13, 2024.
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FY2024 · Filed Sep 13, 2024
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Consolidated Balance Sheets
Greystone Logistics, Inc.
Consolidated Balance Sheets
| May 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current Assets: | ||
| Cash and cash equivalents | $5,798,641 | $695,951 |
| Accounts receivable - | ||
| Trade | 4,158,381 | 4,857,504 |
| Related parties | 265,570 | 56,550 |
| Other | 2,107,108 | 386,877 |
| Inventory | 3,871,626 | 4,484,106 |
| Prepaid expenses | 585,422 | 528,962 |
| Total Current Assets | 16,786,748 | 11,009,950 |
| Property, Plant and Equipment | 30,066,119 | 33,184,706 |
| Right-of-use Operating Lease Assets | 5,403,441 | 5,335,714 |
| Total Assets | $52,256,309 | $49,530,370 |
| Liabilities and Equity | ||
| Current Liabilities: | ||
| Current portion of long-term debt | $2,362,212 | $2,249,570 |
| Current portion of financing leases | 19,171 | 31,981 |
| Current portion of operating leases | 286,221 | 240,346 |
| Accounts payable and accrued expenses | 3,670,332 | 3,337,410 |
| Deferred revenue | 840,945 | 23,007 |
| Preferred dividends payable | - | 134,414 |
| Total Current Liabilities | 7,178,881 | 6,016,728 |
| Long-Term Debt, net of current portion and debt issuance costs | 11,080,736 | 14,919,687 |
| Financing Leases, net of current portion | 3,972 | 28,504 |
| Operating Leases, net of current portion | 5,167,013 | 5,119,688 |
| Deferred Tax Liability | 4,844,958 | 3,905,279 |
| Equity: | ||
| Preferred stock, $0.0001 par value, cumulative, 20,750,000 shares authorized, 50,000 shares issued and outstanding, liquidation preference of $5,000,000 | 5 | 5 |
| Common stock, $0.0001 par value, 5,000,000,000 shares authorized, 28,279,701 shares issued and outstanding | 2,828 | 2,828 |
| Additional paid-in capital | 53,533,272 | 53,533,272 |
| Accumulated deficit | (29,555,356) | (33,995,621) |
| Total Equity | 23,980,749 | 19,540,484 |
| Total Liabilities and Equity | $52,256,309 | $49,530,370 |
The accompanying notes are an integral part of these consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.