GREYSTONE LOGISTICS, INC.
For the period ended May 31, 2025. Filed Aug 29, 2025.
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FY2025 · Filed Aug 29, 2025
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Item 8. Consolidated Statements of Cash Flows
Greystone Logistics, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited)
| For the Years Ended May 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash Flows from Operating Activities: | ||
| Net income | $2,351,010 | $5,027,491 |
| Adjustments to reconcile net income to net cash provided by operating activities - | ||
| Gain on involuntary conversion | (741,821) | (593,647) |
| (Gain) loss on disposition of assets | (43,027) | 43,601 |
| Depreciation and amortization | 5,772,850 | 5,736,342 |
| Change in deferred taxes | 947,391 | 939,679 |
| Increase in trade accounts receivable | 540,387 | 1,037,142 |
| Increase in other accounts receivable | 2,107,108 | - |
| Decrease in related parties receivable | (625,313) | (209,020) |
| Increase (Decrease) in inventory | 387,588 | (690,273) |
| Operating lease expense | 26,464 | 25,473 |
| Increase (Decrease) in prepaid expenses | 28,511 | (56,460) |
| Increase in accounts payable and accrued expenses | 354,282 | 316,706 |
| Increase (Decrease) in deferred revenue | (817,981) | 817,938 |
| Net cash provided by operating activities | 10,287,449 | 12,394,972 |
| Cash Flows from Investing Activities: | ||
| Purchase of property, plant and equipment | (5,753,429) | (2,801,378) |
| Proceeds from sale of property, plant and equipment | 50,000 | - |
| Net cash used in investing activities | (5,703,429) | (2,801,378) |
| Cash Flows from Financing Activities: | ||
| Principal payments on long-term debt and financing leases | (2,383,786) | (2,256,179) |
| Principal payments on revolving loan | - | (1,500,000) |
| Payments for retirement of preferred stock | (5,000,000) | - |
| Repurchase of common stock | (606,737) | - |
| Repurchase and retirement of common stock | (420,000) | - |
| Payments for debt issue costs | - | (13,085) |
| Dividends paid on preferred stock | (427,103) | (721,640) |
| Net cash used in financing activities | (8,837,626) | (4,490,904) |
| Net Increase (Decrease) in Cash | (4,253,606) | 5,102,690 |
| Cash, beginning of period | 5,798,641 | 695,951 |
| Cash, end of period | $1,545,035 | $5,798,641 |
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