Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Feb. 29, 2020 | Apr. 06, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Feb. 29, 2020 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 | |
Current Fiscal Year End Date | --05-31 | |
Entity File Number | 333-220846 | |
Entity Registrant Name | Reviv3 Procare Co | |
Entity Central Index Key | 0001718500 | |
Entity Tax Identification Number | 47-4125218 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 9480 Telstar Avenue. | |
Entity Address, Address Line Two | Unit 5, El Monte | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 91731 | |
City Area Code | 888 | |
Local Phone Number | 638-8883 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 41,285,881 |
CONDENSED BALANCE SHEETS (Unaud
CONDENSED BALANCE SHEETS (Unaudited) - USD ($) | Feb. 29, 2020 | May 31, 2019 |
CURRENT ASSETS: | ||
Cash | $ 142,690 | $ 346,179 |
Accounts receivable, net | 59,927 | 79,588 |
Inventory | 344,477 | 264,578 |
Prepaid expenses and other current assets | 1,290 | 2,993 |
Total Current Assets | 548,384 | 693,338 |
OTHER ASSETS: | ||
Intangible assets, net | 474 | |
Property and equipment, net | 34,035 | 32,803 |
Deposits | 16,278 | 14,849 |
Right of use assets, net | 219,105 | |
Total Other Assets | 269,418 | 48,126 |
TOTAL ASSETS | 817,802 | 741,464 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 63,714 | 32,471 |
Customer deposits | 16,203 | 16,203 |
Due to related party | 210 | 210 |
Equipment financing payable, current | 3,300 | 3,300 |
Lease liability, current | 68,941 | |
Total Current Liabilities | 152,368 | 52,184 |
LONG TERM LIABILITIES: | ||
Equipment financing payable | 9,625 | 11,910 |
Lease liability, non-current | 151,021 | |
Total Liabilities | 313,014 | 64,094 |
Commitments and contingencies (see Note 8) | ||
STOCKHOLDERS' EQUITY: | ||
Preferred stock, $0.0001 par value; 20,000,000 shares authorized; none issued and outstanding | ||
Common stock, $0.0001 par value: 100,000,000 shares authorized; 41,285,881 shares issued and outstanding as of February 29, 2020 and May 31, 2019 | 4,129 | 4,129 |
Additional paid-in capital | 5,311,383 | 5,311,383 |
Accumulated deficit | (4,810,724) | (4,638,142) |
Total Stockholders' Equity | 504,788 | 677,370 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 817,802 | $ 741,464 |
CONDENSED BALANCE SHEETS (Una_2
CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Feb. 29, 2020 | May 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 41,285,881 | 41,285,881 |
Common stock, shares outstanding | 41,285,881 | 41,285,881 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2020 | Feb. 28, 2019 | Feb. 29, 2020 | Feb. 28, 2019 | |
Income Statement [Abstract] | ||||
Sales | $ 157,880 | $ 281,062 | $ 612,114 | $ 662,401 |
Cost of sales | 45,736 | 158,846 | 260,603 | 382,238 |
Gross profit | 112,144 | 122,216 | 351,511 | 280,163 |
OPERATING EXPENSES: | ||||
Marketing and selling expenses | 37,497 | 22,439 | 140,260 | 63,911 |
Compensation and related taxes | 7,624 | 7,344 | 38,817 | 22,430 |
Professional and consulting expenses | 43,431 | 37,732 | 142,263 | 157,912 |
General and administrative | 64,703 | 58,212 | 201,699 | 190,538 |
Total Operating Expenses | 153,255 | 125,727 | 523,039 | 434,791 |
LOSS FROM OPERATIONS | (41,111) | (3,511) | (171,528) | (154,628) |
OTHER INCOME (EXPENSE): | ||||
Interest income | 25 | 49 | 95 | 95 |
Interest expense and other finance charges | (513) | (106) | (1,149) | (378) |
Other Income (Expense), Net | (488) | (57) | (1,054) | (283) |
LOSS BEFORE PROVISION FOR INCOME TAXES | (41,599) | (3,568) | (172,582) | (154,911) |
Provision for income taxes | ||||
NET LOSS | $ (41,599) | $ (3,568) | $ (172,582) | $ (154,911) |
NET LOSS PER COMMON SHARE - Basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||||
Basic and diluted | 41,285,881 | 41,277,547 | 41,285,881 | 40,808,595 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) | Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning Balance at May. 31, 2018 | $ 4,051 | $ 4,997,461 | $ (4,488,167) | $ 513,345 | |
Beginning Balance, Shares at May. 31, 2018 | 40,505,047 | ||||
Issuance of common stock for cash | $ 76 | 303,924 | 304,000 | ||
Issuance of common stock for cash, Shares | 760,000 | ||||
Shares to be issued for services | $ 1 | 4,999 | 5,000 | ||
Shares to be issued for services, Shares | 12,500 | ||||
Net Loss for the Period | (154,911) | (154,911) | |||
Ending Balance at Feb. 28, 2019 | $ 4,128 | 5,306,384 | (4,643,078) | 667,434 | |
Ending Balance, Shares at Feb. 28, 2019 | 41,277,547 | ||||
Beginning Balance at Nov. 30, 2018 | $ 4,128 | 5,306,384 | (4,639,510) | 671,002 | |
Beginning Balance, Shares at Nov. 30, 2018 | 41,277,547 | ||||
Net Loss for the Period | (3,568) | (3,568) | |||
Ending Balance at Feb. 28, 2019 | $ 4,128 | 5,306,384 | (4,643,078) | 667,434 | |
Ending Balance, Shares at Feb. 28, 2019 | 41,277,547 | ||||
Beginning Balance at May. 31, 2019 | $ 4,129 | 5,311,383 | (4,638,142) | 677,370 | |
Beginning Balance, Shares at May. 31, 2019 | 41,285,881 | ||||
Net Loss for the Period | (172,582) | (172,582) | |||
Ending Balance at Feb. 29, 2020 | $ 4,129 | 5,311,383 | (4,810,724) | 504,788 | |
Ending Balance, Shares at Feb. 29, 2020 | 41,285,881 | ||||
Beginning Balance at Nov. 30, 2019 | $ 4,129 | 5,311,383 | (4,769,125) | 546,387 | |
Beginning Balance, Shares at Nov. 30, 2019 | 41,285,881 | ||||
Net Loss for the Period | (41,599) | (41,599) | |||
Ending Balance at Feb. 29, 2020 | $ 4,129 | $ 5,311,383 | $ (4,810,724) | $ 504,788 | |
Ending Balance, Shares at Feb. 29, 2020 | 41,285,881 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Feb. 29, 2020 | Feb. 28, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (172,582) | $ (154,911) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 7,998 | 3,625 |
Bad debts | (2,342) | 2,786 |
Stock based compensation | 5,000 | |
Intangibles written off | 474 | |
Change in operating assets and liabilities: | ||
Accounts Receivable | 22,004 | (11,316) |
Inventory | (79,899) | (106,224) |
Advance to suppliers | 3,413 | |
Prepaid expenses and other current assets | 1,703 | 3,505 |
Deposits | (1,429) | |
Right of use assets | 857 | |
Accounts payable and accrued expenses | 31,243 | 91,508 |
Customer deposits | 42,447 | |
Other liabilities | (47) | |
NET CASH USED IN OPERATING ACTIVITIES | (191,974) | (120,214) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property and equipment | (9,230) | (13,887) |
NET CASH USED IN INVESTING ACTIVITIES | (9,230) | (13,887) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Issuance of common stock for cash | 304,000 | |
Repayment of equipment financing | (2,285) | (275) |
Advances from a related party | 3,000 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | (2,285) | 306,725 |
NET (DECREASE) INCREASE IN CASH | (203,489) | 172,624 |
CASH - Beginning of period | 346,179 | 227,870 |
CASH - End of period | 142,690 | 400,494 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Interest | 1,149 | 378 |
Income taxes | ||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Financing of equipment | 16,500 | |
Right of use assets recognized as lease liability | 235,748 | |
Right of use assets amortization | $ 15,786 |
Organization
Organization | 9 Months Ended |
Feb. 29, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | Note 1 – Organization Reviv3 Procare Company (the “Company”) was incorporated in the State of Delaware on May 21, 2015 as a reorganization of Reviv3 Procare, LLC which was organized on July 31, 2013. The Company is engaged in the manufacturing, marketing, sale and distribution of professional quality hair and skin care products throughout the United States, Canada, Europe and Asia. |
Basis of Presentation, Going Co
Basis of Presentation, Going Concern and Summary of Significant Accounting Policies | 9 Months Ended |
Feb. 29, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation, Going Concern and Summary of Significant Accounting Policies | Note 2 – Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The unaudited financial statements for the three and nine months ended February 29, 2020 and February 28, 2019 have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of the management, all adjustments necessary to present fairly our financial position, results of operations, and cash flows as of February 29, 2020 and February 28, 2018, and for the periods then ended, have been made. Those adjustments consist of normal and recurring adjustments. Certain information and note disclosures normally included in our annual financial statements prepared in accordance with generally accepted accounting principles have been omitted. The unaudited financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended May 31, 2019. The results of operations for the three months and nine months ended February 29, 2020 are not necessarily indicative of the results to be expected for the full year. Going Concern As reflected in the accompanying financial statements, the Company has a net loss of $172,582 for the nine months ended February 29, 2020, and used cash from operating activities of $191,974 for the nine months ended February 29, 2020. Additionally, the Company has an accumulated deficit of $4,810,724 at February 29, 2020. These factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of 12 months from the issuance date of this report. The ability of the Company to continue as a going concern is dependent on the Company’s ability to continue its business plan, raise capital, and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Use of estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates made by management include, but are not limited to, the allowance for doubtful accounts, inventory valuations, the useful life of property and equipment, the valuation of intangible assets, the valuation of deferred tax assets, the value of stock-based compensation, and the fair value of non-cash common stock issuances. Cash and cash equivalents The Company considers all highly liquid debt instruments and other short-term investments with maturities of three months or less, when purchased, to be cash equivalents. The Company maintains cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation. Accounts receivable and allowance for doubtful accounts The Company has a policy of providing on allowance for doubtful accounts based on its best estimate of the amount of probable credit losses in its existing accounts receivable. The Company periodically reviews its accounts receivable to determine whether an allowance is necessary based on an analysis of past due accounts and other factors that may indicate that the realization of an account may be in doubt. Account balances deemed to be uncollectible are charged to bad debt expense and included in the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Prepaid expenses and other current assets Prepaid expenses and other current assets of $1,290 and $2,993 at February 29, 2020 and May 31, 2019, respectively, consist primarily of costs paid for future services which will occur within a year and cash prepayment to vendors. Prepaid expenses at February 29, 2020 and May 31, 2019 primarily included cash prepayment to vendors. Inventory The Company values inventory, consisting of finished goods and raw materials, at the lower of cost and net realizable value. Cost is determined using an average cost method. The Company reduces inventory for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its net realizable value. The Company evaluates its current level of inventory considering historical sales and other factors and, based on this evaluation, classifies inventory markdowns in the statement of operations as a component of cost of goods sold. These markdowns are estimates, which could vary significantly from actual requirements if future economic conditions, customer demand or competition differ from expectations. Property and Equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed, and any resulting gains or losses are included in the statement of operations. Revenue recognition Effective June 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) 606, “ Revenue From Contracts With Customers” The Company sells a variety of hair and skin care products. The Company recognizes revenue for the agreed upon sales price when a purchase order is received from the customer and subsequently the product is shipped to the customer, which satisfies the performance obligation. Consideration paid to the customer to promote and sell the Company’s products is typically recorded as a reduction in revenues. See Note 11 for revenue disaggregation disclosures. Cost of Sales The primary components of cost of sales include the cost of the product and freight-in. Shipping and Handling Costs The Company accounts for shipping and handling fees in accordance with ASC 606. While amounts charged to customers for shipping products are included in revenues, the related costs of shipping products to customers are classified in marketing and selling expenses as incurred. Shipping costs included in marketing and selling expense were $11,292 and $11,900 for the three months ended February 29, 2020 and February 28, 2019, respectively. Shipping costs included in marketing and selling expense were $31,898 and $30,601 for the nine months ended February 29, 2020 and February 28, 2019, respectively. Marketing, selling and advertising Marketing, selling and advertising costs are expensed as incurred. Customer Deposits Customer deposits consisted of prepayments from customers to the Company. The Company will recognize the prepayments as revenue upon delivery of products in compliance with its revenue recognition policy. Fair value measurements and fair value of financial instruments The Company adopted ASC 820, “ Fair Value Measurements and Disclosures Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The estimated fair value of certain financial instruments, including prepaid expenses, deposits, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. Income Taxes The Company accounts for income taxes pursuant to the provision of ASC 740-10, “ Accounting for Income Taxes The Company follows the provision of ASC 740-10 related to “ Accounting for Uncertain Income Tax Positions” Tax positions that meet the more likely than not recognition threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all more likely than not to be upheld upon examination. As such, the Company has not recorded a liability for uncertain tax benefits. The Company has adopted ASC 740-10-25, “ Definition of Settlement Impairment of long-lived assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company recorded impairment losses of $474 as an operating expense in the accompanying financial statements, during the nine months ended February 29, 2020. Stock-based compensation Stock-based compensation is accounted for based on the requirements of the Share-Based Payment Topic of ASC 718, “ Compensation — Stock Compensation Pursuant to ASC Topic 505-50, “ Equity Based Payments to Non-employees Net loss per share of common stock Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares during the period. Diluted net loss per share is computed using the weighted average number of common shares and potentially dilutive securities outstanding during the period. At February 29, 2020 and February 28, 2019, the Company had no potentially dilutive securities outstanding. Accounting Changes In February 2016, the FASB issued ASU No. 2016-02, “ Leases” Leases Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement” Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures. |
Accounts Receivable
Accounts Receivable | 9 Months Ended |
Feb. 29, 2020 | |
Receivables [Abstract] | |
Accounts Receivable | Note 3 – Accounts Receivable Accounts receivable, consisted of the following: February 29, 2020 May 31, 2019 Accounts Receivable $ 60,362 $ 82,365 Less: Allowance for doubtful debts (435 ) (2,777 ) $ 59,927 $ 79,588 The Company recorded bad debt recovery of ($2,342) and bad debt expense of $2,786 during the nine months ended February 29, 2020 and February 28, 2019, respectively. |
Inventory
Inventory | 9 Months Ended |
Feb. 29, 2020 | |
Inventory Disclosure [Abstract] | |
Inventory | Note 4 – Inventory Inventory consisted of the following: February 29, 2020 May 31, 2019 Finished Goods $ 40,671 $ 69,256 Raw Materials 303,806 195,322 $ 344,477 $ 264,578 At February 29, 2020 and May 31, 2019, inventory held at third party locations amounted to $580 and $13,176, respectively. At February 29, 2020 and May 31, 2019, inventory in- transit amounted to $0 and $3,450, respectively. During the nine months ended February 29, 2020 the Company sold some of the slow- moving inventory which had been written off and recovered $769. During the nine months ended February 28, 2019, the Company wrote down inventory for obsolescence of $636 which is included in cost of sales. |
Property and Equipment
Property and Equipment | 9 Months Ended |
Feb. 29, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Note 5 – Property and Equipment Property and equipment, stated at cost, consisted of the following: Estimated Life February 29, 2020 May 31, 2019 Furniture and Fixtures 5 years $ 5,759 $ 5,759 Computer Equipment 3 years 17,392 17,392 Plant Equipment 5-10 years 29,720 20,490 Less: Accumulated Depreciation (18,836 ) (10,838 ) $ 34,035 $ 32,803 Depreciation expense amounted to $2,459 and $1,582 for the three months ended February 29, 2020 and February 28, 2019, respectively. Depreciation expense amounted to $7,998 and $3,625 for the nine months ended February 29, 2020 and February 28, 2019, respectively. |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 9 Months Ended |
Feb. 29, 2020 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Expenses | Note 6 – Accounts Payable and Accrued Expenses Accounts payable and accrued expenses comprised of the following: February 29, 2020 May 31, 2019 Trade Payables $ 48,173 $ 14,610 Credit Cards 12,905 14,407 Other 2,636 3,454 $ 63,714 $ 32,471 |
Equipment Financing Payable
Equipment Financing Payable | 9 Months Ended |
Feb. 29, 2020 | |
Notes to Financial Statements | |
Equipment Financing Payable | Note 7 – Equipment Financing Payable During the year ended May 31, 2019, the Company purchased a forklift under an installment purchase plan. The loan amount was $16,500 payable in 60 monthly installment payments of $317 comprising of principal payment of $275 and interest payment of $42. As of February 29, 2020, and May 31, 2019, the balance outstanding on the loan was $12,925 and $15,210. $3,300 of the loan is payable within one year and the balance $9,625, is payable after one year from February 29, 2020. The Company recorded an interest expense of $31 and $10, respectively on the loan in the accompanying unaudited financial statements for the three months and nine months ended February 29, 2020. The Company recorded an interest expense of $42 on the loan in the accompanying unaudited financial statements for the three months and nine months ended February 28, 2019. The amounts of principal payments due in the next five years ended February 28, are as follows: 2021 $ 3,300 2022 3,300 2023 3,300 2024 3,025 $ 12,925 |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Feb. 29, 2020 | |
Equity [Abstract] | |
Stockholders' Equity | Note 8 – Stockholders’ Equity Shares Authorized The authorized capital of the Company consists of 100,000,000 shares of common stock, par value $0.0001 per share and 20,000,000 shares of preferred stock, par value $0.0001 per share. Preferred Stock The preferred stock may be issued from time to time in one or more series. The Board of Directors of the Company is expressly authorized to provide for the issuance of all or any of the shares of the preferred stock in one or more series, and to fix the number of shares and to determine or alter, for each such series, such voting powers, full or limited, or no voting powers and such designations, preferences, and relative, participating, optional, or other rights and such qualifications, limitations, or restrictions thereof, as shall be stated and expressed until the resolution adopted by the Board of Directors providing the issuance of such shares. The Board of Directors is also expressly authorized to increase or decrease the number of shares of any series subsequent to the issue of shares of that series. In case the number of shares of any such series shall be so decreased, the decrease shall resume the status that they had prior to the adoption of the resolution originally fixing the number of shares of such series. As of February 29, 2020, no shares of preferred stock were issued and outstanding. Common Stock As of February 29, 2020, 41,285,891 shares of common stock were issued and outstanding. No stock was issued during the nine months ended February 29, 2020. During the nine months period ended February 28, 2019, the Company issued 760,000 shares of common stock for $304,000 cash proceeds to third party investors at $0.40 per share. During the nine months period ended February 28, 2019, the Company recorded 12,500 shares of common stock for shares earned by third party consultant for services provided to the Company. The shares were valued at $0.40 per share or $5,000, based on the recent common stock sales. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Feb. 29, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 9 – Commitments and contingencies Leases As discussed in Note 2 above, the Company adopted ASU No. 2016-02, “ Leases” The Company treats a contract as a lease when the contract conveys the right to use a physically distinct asset for a period of time in exchange for consideration, or the Company directs the use of the asset and obtains substantially all the economic benefits of the asset. These leases are recorded as right-of-use (“ROU”) assets and lease obligation liabilities for leases with terms greater than 12 months. ROU assets represent the Company’s right to use an underlying asset for the entirety of the lease term. Lease liabilities represent the Company’s obligation to make payments over the life of the lease. A ROU asset and a lease liability are recognized at commencement of the lease based on the present value of the lease payments over the life of the lease. Initial direct costs are included as part of the ROU asset upon commencement of the lease. Since the interest rate implicit in a lease is generally not readily determinable for the operating leases, the Company uses an incremental borrowing rate to determine the present value of the lease payments. The incremental borrowing rate represents the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar lease term to obtain an asset of similar value. The Company reviews the impairment of ROU assets consistent with the approach applied for the Company’s other long-lived assets. The Company reviews the recoverability of long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on the Company’s ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. Lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are expensed as incurred. Variable payments change due to facts or circumstances occurring after the commencement date, other than the passage of time, and do not result in a remeasurement of lease liabilities. The Company’s lease agreements do not contain any residual value guarantees or restrictive covenants. Pursuant to the new standard, the Company recorded an initial lease liability of $235,748 and an initial right of use asset in the same amount. During the three months ended February 29, 2020, the Company recorded rent expense in the amount of $23,589 for the three months ended February 29, 2020. As of February 29, 2020, the lease liability balance was $219,962 and the right of use asset balance was $219,105. A lease term of three years and a discount rate of 12% was used. Supplemental balance sheet information related to leases was as follows: February 29, 2020 Assets Operating lease assets, net $ 2,13,452 Liabilities Current Operating 68,941 Non-current Operating 1,51,021 Total Lease Liabilities $ 2,19,962 Maturities of operating lease liabilities were as follows as of February 29, 2020: Operating Lease Year 1 $ 91,665 Year 2 95,091 Year 3 73,246 Total 2,60,002 Less: Imputed interest -40,040 Present value of lease liabilities 2,19,962 Less: current portion -68,941 Non- current portion $ 1,51,021 Rent expense, prior to the signing of the new lease agreement, amounted to $0 and $23,666 for the three months ended February 29, 2020 and February 28, 2019, respectively. Rent expense amounted to $47,547 and $71,105 for the nine months ended February 29, 2020 and February 28, 2019, respectively. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Feb. 29, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 10 – Related Party Transactions The Company’s Chief Executive Officer, from time to time, provided advances to the Company for working capital purposes. At February 29, 2020 and May 31, 2019, the Company had a payable to the officer of $210 and $210, respectively. These advances are unsecured, due on demand and non-interest bearing. During the nine months ended February 28, 2019, the Company paid $280 to an affiliated company for advisory services rendered. The affiliated company is managed by the Company’s Chief Executive Officer. |
Concentrations and Revenue Disa
Concentrations and Revenue Disaggregation | 9 Months Ended |
Feb. 29, 2020 | |
Risks and Uncertainties [Abstract] | |
Concentrations and Revenue Disaggregation | Note 11 – Concentrations and Revenue Disaggregation Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade accounts receivable and cash deposits, investments and cash equivalents instruments. The Company maintains its cash in bank deposits accounts. The Company’s account at this institution is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At February 29, 2020 and May 31, 2019, the Company held cash of approximately $0 and $102,454, respectively, in excess of federally insured limits. The Company has not experienced any losses in such accounts through February 29, 2020. Concentration of Revenue, Product Line, and Supplier During the three months ended February 29, 2020 sales to four customers, which represented over 10% of our total sales at 21%, 20%, 15% and 12%. During the nine months ended February 29, 2020 sales to three customers, which each represented over 10% of our total sales, aggregated to approximately 55% of the Company’s net sales at 26%, 10% and 12%. During the three months ended February 28, 2019 sales to one customer, which represented over 10% of our total sales, amounted to approximately 50% of the Company’s net sales. During the nine months ended February 28, 2019 sales to two customers, which each represented over 10% of our total sales, aggregated to approximately 51% of the Company’s net sales at 38% and 13%. During the three months ended February 29, 2020, sales to customers outside the United States represented approximately 42% which consisted of 41% from Canada and 1% from other countries and during the nine months ended February 29, 2020, sales to customers outside the United States represented approximately 33% which consisted of 24% from Canada, 8% from Italy and 1% from UK. During the nine months period ended February 28, 2019 sales to customers outside the United States represented approximately 30% which consisted of 20% from Canada, 5% from Italy, 3% from Hong Kong and 2% from United Kingdom. During the three months period ended February 28, 2019 sales to customers outside the United States represented approximately 26% which consisted of 22% from Canada and 4% from United Kingdom. During the nine months ended February 29, 2020, sales by product lines which each represented over 10% of sales consisted of approximately 17% from sale of introductory kit (shampoo, conditioner and treatment spray) and 26% from sale of fragrance shampoo and conditioner. During the three months ended February 29, 2020, sales by product lines which each represented over 10% of sales consisted of approximately 25% from sale of introductory kit (shampoo, conditioner and treatment spray), 26% from sale of prep shampoo and 10% from prime moisturizer and conditioner. During the nine months period ended February 28, 2019, sales by product line which each represented over 10% of sales consisted of approximately 20% from sale of introductory kit (shampoo, conditioner and treatment spray), 16% from prep shampoo and conditioner, 11% from sale of moisturizer and conditioner and 29% from fragrance shampoo and conditioner. During the three months period ended February 28, 2019, sales by product line which each represented over 10% of sales consisted of approximately 15% from sale of introductory kit (shampoo, conditioner and treatment spray), 21% from fragrance shampoo and 21% from fragrance conditioner. During the nine months ended February 29, 2020 and February 28, 2019, sales by product line comprised of the following: For the Nine Months ended Hair Care Products February 29, 2020 February 28, 2019 Shampoos and Conditioners 80 % 76 % Ancillary Products 20 % 24 % Total 100 % 100 % As of February 29, 2020, accounts receivable from five customers represented approximately 85% at 14%, 15%, 16%, 18% and 22% and at May 31, 2019, accounts receivable from five customers represented approximately 94% at 30%, 13%, 23%, 14% and 14%, respectively. The Company purchased inventories and products from one vendor totaling approximately $203,916 (77% of the purchases) and three vendors totaling approximately $308,761 (76% of the purchases at 10%, 28% and 38%) for the nine months ended February 29, 2020 and February 28, 2019, respectively. |
Basis of Presentation, Going _2
Basis of Presentation, Going Concern and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Feb. 29, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The unaudited financial statements for the three and nine months ended February 29, 2020 and February 28, 2019 have been prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of the management, all adjustments necessary to present fairly our financial position, results of operations, and cash flows as of February 29, 2020 and February 28, 2018, and for the periods then ended, have been made. Those adjustments consist of normal and recurring adjustments. Certain information and note disclosures normally included in our annual financial statements prepared in accordance with generally accepted accounting principles have been omitted. The unaudited financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended May 31, 2019. The results of operations for the three months and nine months ended February 29, 2020 are not necessarily indicative of the results to be expected for the full year. |
Going Concern | Going Concern As reflected in the accompanying financial statements, the Company has a net loss of $172,582 for the nine months ended February 29, 2020, and used cash from operating activities of $191,974 for the nine months ended February 29, 2020. Additionally, the Company has an accumulated deficit of $4,810,724 at February 29, 2020. These factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of 12 months from the issuance date of this report. The ability of the Company to continue as a going concern is dependent on the Company’s ability to continue its business plan, raise capital, and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Use of estimates | Use of estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. Significant estimates made by management include, but are not limited to, the allowance for doubtful accounts, inventory valuations, the useful life of property and equipment, the valuation of intangible assets, the valuation of deferred tax assets, the value of stock-based compensation, and the fair value of non-cash common stock issuances. |
Cash and cash equivalents | Cash and cash equivalents The Company considers all highly liquid debt instruments and other short-term investments with maturities of three months or less, when purchased, to be cash equivalents. The Company maintains cash and cash equivalent balances at one financial institution that is insured by the Federal Deposit Insurance Corporation. |
Accounts receivable and allowance for doubtful accounts | Accounts receivable and allowance for doubtful accounts The Company has a policy of providing on allowance for doubtful accounts based on its best estimate of the amount of probable credit losses in its existing accounts receivable. The Company periodically reviews its accounts receivable to determine whether an allowance is necessary based on an analysis of past due accounts and other factors that may indicate that the realization of an account may be in doubt. Account balances deemed to be uncollectible are charged to bad debt expense and included in the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. |
Prepaid expenses and other current assets | Prepaid expenses and other current assets Prepaid expenses and other current assets of $1,290 and $2,993 at February 29, 2020 and May 31, 2019, respectively, consist primarily of costs paid for future services which will occur within a year and cash prepayment to vendors. Prepaid expenses at February 29, 2020 and May 31, 2019 primarily included cash prepayment to vendors. |
Inventory | Inventory The Company values inventory, consisting of finished goods and raw materials, at the lower of cost and net realizable value. Cost is determined using an average cost method. The Company reduces inventory for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its net realizable value. The Company evaluates its current level of inventory considering historical sales and other factors and, based on this evaluation, classifies inventory markdowns in the statement of operations as a component of cost of goods sold. These markdowns are estimates, which could vary significantly from actual requirements if future economic conditions, customer demand or competition differ from expectations. |
Property and Equipment | Property and Equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed, and any resulting gains or losses are included in the statement of operations. |
Revenue recognition | Revenue recognition Effective June 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) 606, “ Revenue From Contracts With Customers” The Company sells a variety of hair and skin care products. The Company recognizes revenue for the agreed upon sales price when a purchase order is received from the customer and subsequently the product is shipped to the customer, which satisfies the performance obligation. Consideration paid to the customer to promote and sell the Company’s products is typically recorded as a reduction in revenues. See Note 11 for revenue disaggregation disclosures. |
Cost of Sales | Cost of Sales The primary components of cost of sales include the cost of the product and freight-in. |
Shipping and Handling Costs | Shipping and Handling Costs The Company accounts for shipping and handling fees in accordance with ASC 606. While amounts charged to customers for shipping products are included in revenues, the related costs of shipping products to customers are classified in marketing and selling expenses as incurred. Shipping costs included in marketing and selling expense were $11,292 and $11,900 for the three months ended February 29, 2020 and February 28, 2019, respectively. Shipping costs included in marketing and selling expense were $31,898 and $30,601 for the nine months ended February 29, 2020 and February 28, 2019, respectively. |
Marketing, selling and advertising | Marketing, selling and advertising Marketing, selling and advertising costs are expensed as incurred. |
Customer Deposits | Customer Deposits Customer deposits consisted of prepayments from customers to the Company. The Company will recognize the prepayments as revenue upon delivery of products in compliance with its revenue recognition policy. |
Fair value measurements and fair value of financial instruments | Fair value measurements and fair value of financial instruments The Company adopted ASC 820, “ Fair Value Measurements and Disclosures Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The estimated fair value of certain financial instruments, including prepaid expenses, deposits, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. |
Income Taxes | Income Taxes The Company accounts for income taxes pursuant to the provision of ASC 740-10, “ Accounting for Income Taxes The Company follows the provision of ASC 740-10 related to “ Accounting for Uncertain Income Tax Positions” Tax positions that meet the more likely than not recognition threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all more likely than not to be upheld upon examination. As such, the Company has not recorded a liability for uncertain tax benefits. The Company has adopted ASC 740-10-25, “ Definition of Settlement |
Impairment of long-lived assets | Impairment of long-lived assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company recorded impairment losses of $474 as an operating expense in the accompanying financial statements, during the nine months ended February 29, 2020. |
Stock-based compensation | Stock-based compensation Stock-based compensation is accounted for based on the requirements of the Share-Based Payment Topic of ASC 718, “ Compensation — Stock Compensation Pursuant to ASC Topic 505-50, “ Equity Based Payments to Non-employees |
Net loss per share of common stock | Net loss per share of common stock Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares during the period. Diluted net loss per share is computed using the weighted average number of common shares and potentially dilutive securities outstanding during the period. At February 29, 2020 and February 28, 2019, the Company had no potentially dilutive securities outstanding. |
Accounting Changes | Accounting Changes In February 2016, the FASB issued ASU No. 2016-02, “ Leases” Leases |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement” Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures. |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 9 Months Ended |
Feb. 29, 2020 | |
Receivables [Abstract] | |
Schedule of accounts receivable | Accounts receivable, consisted of the following: February 29, 2020 May 31, 2019 Accounts Receivable $ 60,362 $ 82,365 Less: Allowance for doubtful debts (435 ) (2,777 ) $ 59,927 $ 79,588 |
Inventory (Tables)
Inventory (Tables) | 9 Months Ended |
Feb. 29, 2020 | |
Inventory Disclosure [Abstract] | |
Schedule of inventory | Inventory consisted of the following: February 29, 2020 May 31, 2019 Finished Goods $ 40,671 $ 69,256 Raw Materials 303,806 195,322 $ 344,477 $ 264,578 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 9 Months Ended |
Feb. 29, 2020 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | Property and equipment, stated at cost, consisted of the following: Estimated Life February 29, 2020 May 31, 2019 Furniture and Fixtures 5 years $ 5,759 $ 5,759 Computer Equipment 3 years 17,392 17,392 Plant Equipment 5-10 years 29,720 20,490 Less: Accumulated Depreciation (18,836 ) (10,838 ) $ 34,035 $ 32,803 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Expenses (Tables) | 9 Months Ended |
Feb. 29, 2020 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses comprised of the following: February 29, 2020 May 31, 2019 Trade Payables $ 48,173 $ 14,610 Credit Cards 12,905 14,407 Other 2,636 3,454 $ 63,714 $ 32,471 |
Equipment Financing Payable (Ta
Equipment Financing Payable (Tables) | 9 Months Ended |
Feb. 29, 2020 | |
Notes to Financial Statements | |
Schedule of Loan Payment Due | The amounts of principal payments due in the next five years ended February 28, are as follows: 2021 $ 3,300 2022 3,300 2023 3,300 2024 3,025 $ 12,925 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Feb. 29, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of future minimum rental payments required under operating lease | Supplemental balance sheet information related to leases was as follows: February 29, 2020 Assets Operating lease assets, net $ 2,13,452 Liabilities Current Operating 68,941 Non-current Operating 1,51,021 Total Lease Liabilities $ 2,19,962 Maturities of operating lease liabilities were as follows as of February 29, 2020: Operating Lease Year 1 $ 91,665 Year 2 95,091 Year 3 73,246 Total 2,60,002 Less: Imputed interest -40,040 Present value of lease liabilities 2,19,962 Less: current portion -68,941 Non- current portion $ 1,51,021 |
Concentrations and Revenue Aggr
Concentrations and Revenue Aggregation (Tables) | 9 Months Ended |
Feb. 29, 2020 | |
Concentrations And Revenue Aggregation | |
Schedule of Sales by Product Line | During the nine months ended February 29, 2020 and February 28, 2019, sales by product line comprised of the following: For the Nine Months ended Hair Care Products February 29, 2020 February 28, 2019 Shampoos and Conditioners 80 % 76 % Ancillary Products 20 % 24 % Total 100 % 100 % |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Feb. 29, 2020 | Feb. 28, 2019 | Feb. 29, 2020 | Feb. 28, 2019 | May 31, 2019 | |
Accounting Policies [Abstract] | |||||
Net loss | $ 41,599 | $ 3,568 | $ 172,582 | $ 154,911 | |
Accumulated deficit | 4,810,724 | 4,810,724 | $ 4,638,142 | ||
Prepaid expenses and other current assets | 1,290 | 1,290 | $ 2,993 | ||
Shipping costs | $ 11,292 | $ 11,900 | $ 31,898 | $ 30,601 |
Accounts Receivable (Details)
Accounts Receivable (Details) - USD ($) | Feb. 29, 2020 | May 31, 2019 |
Receivables [Abstract] | ||
Accounts receivable | $ 60,362 | $ 82,365 |
Less: Allowance for bad debts | (435) | (2,777) |
Accounts receivable, net | $ 59,927 | $ 79,588 |
Accounts Receivable (Details Na
Accounts Receivable (Details Narrative) - USD ($) | 9 Months Ended | |
Feb. 29, 2020 | Feb. 28, 2019 | |
Accounts Receivable (Textual) | ||
Bad debt expense | $ (2,342) | $ 2,786 |
Inventory (Details)
Inventory (Details) - USD ($) | Feb. 29, 2020 | May 31, 2019 |
Inventory Disclosure [Abstract] | ||
Finished goods | $ 40,671 | $ 69,256 |
Raw materials | 303,806 | 195,322 |
Inventory, net | $ 344,477 | $ 264,578 |
Inventory (Details Narrative)
Inventory (Details Narrative) - USD ($) | 9 Months Ended | ||
Feb. 29, 2020 | Feb. 28, 2019 | May 31, 2019 | |
Inventory Disclosure [Abstract] | |||
Inventory held at third party locations | $ 580 | $ 13,176 | |
Write Down of Inventory for Obsolescence which is included in Cost of Sales | 474 | ||
Inventory in Transit | $ 0 | $ 3,450 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | 9 Months Ended | |
Feb. 29, 2020 | May 31, 2019 | |
Less: Accumulated depreciation | $ (18,836) | $ (10,838) |
Property and equipment net | $ 34,035 | 32,803 |
Furniture and Fixtures [Member] | ||
Estimated life | 5 years | |
Property and equipment gross | $ 5,759 | 5,759 |
Computer Equipment [Member] | ||
Estimated life | 3 years | |
Property and equipment gross | $ 17,392 | 17,392 |
Furniture and Fixtures [Member] | ||
Property and equipment gross | $ 29,720 | $ 20,490 |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Estimated life | 5 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Estimated life | 10 years |
Property and Equipment (Detai_2
Property and Equipment (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2020 | Feb. 28, 2019 | Feb. 29, 2020 | Feb. 28, 2019 | |
Property and Equipment (Textual) | ||||
Depreciation expense | $ 2,459 | $ 1,582 | $ 7,998 | $ 3,625 |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Expenses (Details) - USD ($) | Feb. 29, 2020 | May 31, 2019 |
Payables and Accruals [Abstract] | ||
Trade Payables | $ 48,173 | $ 14,610 |
Credit Cards | 12,905 | 14,407 |
Other | 2,636 | 3,454 |
Accounts Payable and Accrued Expenses, net | $ 63,714 | $ 32,471 |
Equipment Financing Payable (De
Equipment Financing Payable (Details) - USD ($) | Feb. 29, 2020 | May 31, 2019 |
Notes to Financial Statements | ||
2021 | $ 3,300 | $ 3,300 |
2022 | 3,300 | |
2023 | 3,300 | |
2024 | 3,025 | |
Total | $ 12,925 |
Stockholders' Equity (Details N
Stockholders' Equity (Details Narrative) - $ / shares | Feb. 29, 2020 | May 31, 2019 |
Stockholders' Equity (Textual) | ||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Par Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares, Issued | 41,285,881 | 41,285,881 |
Common Stock, Shares, Outstanding | 41,285,881 | 41,285,881 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Par Value Per Share | $ 0.0001 | $ 0.0001 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) | Feb. 29, 2020 | May 31, 2019 |
Schedule of Future minimum rental payments for operating lease | ||
1 Year | $ 91,665 | |
2 Years | 95,091 | |
3 Years | 73,246 | |
Total | 260,002 | |
Less: Imputed interest | (40,040) | |
Present value of lease liabilities | 219,962 | |
Less: current portion | (68,941) | |
Non- current portion | $ 151,021 |
Commitments and Contingencies_3
Commitments and Contingencies (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2020 | Feb. 28, 2019 | Feb. 29, 2020 | Feb. 28, 2019 | |
Commitments and Contingencies (Textual) | ||||
Lease agreement, description | The Company has a lease agreement in connection with its office and warehouse facility in California under an operating lease which expired in October 2019. On December 1, 2019, the Company signed an extension of the lease for 3 years. The rent will be $7,567.34 per month for the first year and increase by a certain amount each year. | |||
Lease agreement period | 3 years | 3 years | ||
Monthly base rent | $ 7,567 | |||
Lease rent expense | $ 0 | $ 23,666 | $ 47,547 | $ 71,105 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Feb. 29, 2020 | May 31, 2019 |
Related Party Transactions (Textual) | ||
Amount payable to officers | $ 210 | $ 210 |
Concentrations and Revenue Ag_2
Concentrations and Revenue Aggregation (Details Narrative) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Feb. 29, 2020USD ($)Customer | Feb. 28, 2019Customer | Feb. 29, 2020USD ($)CustomerVendor | Feb. 28, 2019USD ($)CustomerVendor | May 31, 2019USD ($)Customer | |
Concentrations (Textual) | |||||
Amount of FDIC | $ 250,000 | $ 250,000 | |||
Held in cash | $ 0 | $ 0 | $ 102,454 | ||
Sales Revenue, Net [Member] | |||||
Concentrations (Textual) | |||||
Number of customers | Customer | 4 | 1 | 3 | 2 | |
Concentration risk percentage | 68.00% | 50.00% | 48.00% | 51.00% | |
Sales Revenue, Net [Member] | Outside UNITED STATES [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 42.00% | 30.00% | 33.00% | 26.00% | |
Sales Revenue, Net [Member] | CANADA [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 41.00% | 20.00% | 24.00% | 22.00% | |
Sales Revenue, Net [Member] | Other [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 1.00% | ||||
Sales Revenue, Net [Member] | Italy [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 5.00% | 80.00% | |||
Sales Revenue, Net [Member] | United Kingdom [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 2.00% | 10.00% | 4.00% | ||
Sales Revenue, Net [Member] | Hong Kong [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 3.00% | ||||
Sales Revenue, Net [Member] | Customer One [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 21.00% | 50.00% | 26.00% | 38.00% | |
Sales Revenue, Net [Member] | Customer Two [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 20.00% | 10.00% | 13.00% | ||
Sales Revenue, Net [Member] | Customer Three [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 15.00% | 12.00% | |||
Sales Revenue, Net [Member] | Customer Four [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 12.00% | ||||
Accounts Receivable [Member] | |||||
Concentrations (Textual) | |||||
Number of customers | Customer | 5 | 5 | |||
Concentration risk percentage | 85.00% | 94.00% | |||
Accounts Receivable [Member] | Customer One [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 14.00% | 30.00% | |||
Accounts Receivable [Member] | Customer Two [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 15.00% | 13.00% | |||
Accounts Receivable [Member] | Customer Three [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 16.00% | 23.00% | |||
Accounts Receivable [Member] | Customer Four [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 22.00% | 14.00% | |||
Accounts Receivable [Member] | Customer Five [Member] | |||||
Concentrations (Textual) | |||||
Concentration risk percentage | 18.00% | 14.00% | |||
Vendors [Member] | |||||
Concentrations (Textual) | |||||
Number of vendors | Vendor | 1 | 3 | |||
Purchased inventories and products | $ 203,916 | $ 308,761 | |||
Percentage of purchases | 77.00% | 76.00% | |||
Vendors [Member] | Vendors One [Member] | |||||
Concentrations (Textual) | |||||
Percentage of purchases | 10.00% | ||||
Vendors [Member] | Vendors Two [Member] | |||||
Concentrations (Textual) | |||||
Percentage of purchases | 28.00% | ||||
Vendors [Member] | Vendors Three [Member] | |||||
Concentrations (Textual) | |||||
Percentage of purchases | 38.00% |
Concentrations and Revenue Ag_3
Concentrations and Revenue Aggregation (Details) - Sales Revenue, Net [Member] | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2020 | Feb. 28, 2019 | Feb. 29, 2020 | Feb. 28, 2019 | |
Sales, Percent | 68.00% | 50.00% | 48.00% | 51.00% |
Shampoos and Conditioners [Member] | ||||
Sales, Percent | 80.00% | 76.00% | ||
Ancillary Products [Member] | ||||
Sales, Percent | 20.00% | 24.00% | ||
Product [Member] | ||||
Sales, Percent | 100.00% | 100.00% |