Cover
Cover - shares | 3 Months Ended | |
Aug. 31, 2021 | Oct. 04, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Aug. 31, 2021 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --05-31 | |
Entity File Number | 333-220846 | |
Entity Registrant Name | Reviv3 Procare Company | |
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 | |
Entity Address, City or Town | 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 | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 41,945,881 |
CONDENSED BALANCE SHEETS (Unaud
CONDENSED BALANCE SHEETS (Unaudited) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
CURRENT ASSETS | ||
Cash | $ 522,700 | $ 496,937 |
Accounts receivable, net | 96,347 | 90,877 |
Inventory, net | 257,340 | 450,978 |
Prepaid expenses and other current assets | 0 | 2,430 |
Total Current Assets | 876,387 | 1,041,222 |
OTHER ASSETS | ||
Inventory, non-current | 39,874 | 39,874 |
Property and equipment, net | 34,670 | 37,016 |
Deposits | 16,277 | 16,277 |
Right of use assets, net | 108,574 | 128,375 |
Total Other Assets | 199,395 | 221,542 |
TOTAL ASSETS | 1,075,782 | 1,262,764 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 380,506 | 458,962 |
Customer deposits | 16,818 | 106,949 |
Due to related party | 62,574 | 54,304 |
Equipment payable, current | 3,300 | 3,300 |
Loan payable, current | 15,379 | 4,261 |
Lease liability, current | 88,065 | 84,635 |
Total Current Liabilities | 566,642 | 712,411 |
LONG-TERM LIABILITIES | ||
Equipment payable | 4,675 | 5,500 |
Loan payable | 150,921 | 152,039 |
Lease liability, non-current | 23,935 | 47,166 |
Total Long-Term Liabilities | 179,531 | 204,705 |
Total Liabilities | 746,173 | 917,116 |
Commitments and contingencies (see Note 10) | ||
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; 41,945,881 shares issued, issuable and outstanding | 4,195 | 4,195 |
Additional paid-in capital | 5,450,117 | 5,450,117 |
Accumulated deficit | (5,124,703) | (5,108,664) |
Total Stockholders Equity | 329,609 | 345,648 |
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY | $ 1,075,782 | $ 1,262,764 |
CONDENSED BALANCE SHEETS (Una_2
CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Aug. 31, 2021 | May 31, 2021 |
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, Outstanding | 41,945,881 | 41,945,881 |
Common Stock, Shares, Issued | 41,945,881 | 41,945,881 |
CONDENSED STATEMENT OF OPERATIO
CONDENSED STATEMENT OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
Income Statement [Abstract] | ||
Sales | $ 839,272 | $ 268,454 |
Cost of sales | 363,896 | 136,259 |
Gross profit | 475,376 | 132,195 |
OPERATING EXPENSES | ||
Marketing and selling expenses | 351,622 | 70,976 |
Compensation and related taxes | 10,831 | 7,968 |
Professional and consulting expenses | 63,868 | 58,110 |
General and administrative | 63,529 | 63,181 |
Total Operating Expenses | 489,850 | 200,235 |
LOSS FROM OPERATIONS | (14,474) | (68,040) |
OTHER INCOME (EXPENSE): | ||
Interest income | 11 | 7 |
Interest expense and other finance charges | (1,576) | (1,236) |
Other Income (Expense), Net | (1,565) | (1,229) |
LOSS BEFORE PROVISION FOR INCOME TAXES | (16,039) | (69,269) |
Provision for income taxes | ||
NET LOSS | $ (16,039) | $ (69,269) |
NET LOSS PER COMMON SHARE – Basic and diluted | $ 0 | $ 0 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | ||
Basic and diluted | 41,945,881 | 41,377,185 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at May. 31, 2020 | $ 4,129 | $ 5,311,383 | $ (4,810,909) | $ 504,603 | |
Beginning balance, Shares at May. 31, 2020 | 41,285,881 | ||||
Net loss | (69,269) | (69,269) | |||
Ending balance, value at Aug. 31, 2020 | $ 4,149 | 5,327,363 | (4,880,178) | 451,334 | |
Ending balance, Shares at Aug. 31, 2020 | 41,485,881 | ||||
Shares issued for services | $ 20 | 15,980 | 16,000 | ||
Shares issued for services, Shares | 200,000 | ||||
Beginning balance, value at May. 31, 2021 | $ 4,195 | 5,450,117 | (5,108,664) | 345,648 | |
Beginning balance, Shares at May. 31, 2021 | 41,945,881 | ||||
Net loss | (16,039) | (16,039) | |||
Ending balance, value at Aug. 31, 2021 | $ 4,195 | $ 5,450,117 | $ (5,124,703) | $ 329,609 | |
Ending balance, Shares at Aug. 31, 2021 | 41,945,881 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (16,039) | $ (69,269) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation | 2,346 | 2,564 |
Bad debts | 2,316 | 574 |
Stock based compensation | 16,000 | |
Non-cash lease expense | 857 | |
Change in operating assets and liabilities: | ||
Accounts receivable | (7,786) | 112,831 |
Inventory | 193,638 | (217,626) |
Prepaid expenses and other current assets | 2,430 | 3,017 |
Accounts payable and accrued expenses | (78,458) | 204,543 |
Customer deposits | (90,130) | (35,335) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 8,317 | 18,156 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property and equipment | (12,984) | |
NET CASH USED IN INVESTING ACTIVITIES | (12,984) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from loan payable | 10,000 | |
Repayment of equipment financing | (825) | (825) |
Advances from a related party | 8,271 | 9,565 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 17,446 | 8,740 |
NET INCREASE IN CASH | 25,763 | 13,912 |
CASH – Beginning of period | 496,937 | 409,031 |
CASH – End of period | 522,700 | 422,943 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Interest | 500 | 125 |
Income taxes |
Organization
Organization | 3 Months Ended |
Aug. 31, 2021 | |
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 and Summa
Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Aug. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation 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 months ended August 31, 2021, and 2020 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 August 31, 2021, and 2020, 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 Companys annual report on Form 10-K for the year ended May 31, 2021. The results of operations for the three months ended August 31, 2021 are not necessarily indicative of the results to be expected for the full year. Risk and Uncertainty Concerning COVID-19 Pandemic In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic which continues to spread throughout the United States and the World. We are currently monitoring the outbreak of COVID-19 and the related business and travel restrictions and changes to behavior intended to reduce its spread. All of our Chinese facilities were temporarily closed for a period of time. Most of these facilities have been reopened since July 2020. Depending on the progression of the outbreak, our ability to obtain necessary supplies and ship finished products to customers may be partly or completely disrupted globally. Also, our ability to maintain appropriate labor levels could be disrupted. If the coronavirus continues to progress, it could have a material negative impact on our results of operations and cash flow, in addition to the impact on its employees. We have concluded that while it is reasonably possible that the virus could have a negative impact on the results of operations, the specific impact is not readily determinable as of the date of these financial statements. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. Management is focused on growing the Companys existing products offering, as well as its customer base, to increase its revenues. The Company cannot give assurance that it can increase its cash balances or limit its cash consumption and thus maintain sufficient cash balances for its planned operations or future acquisitions. Future business demands may lead to cash utilization at levels greater than recently experienced. The Company may need to raise additional capital in the future. However, the Company cannot assure that it will be able to raise additional capital on acceptable terms, or at all. Subject to the foregoing, management believes that the Company has sufficient capital and liquidity to fund its operations for at least one year from the date of issuance of the accompanying financial statements. Going Concern As reflected in the accompanying financial statements, the Company had a net loss of $ 16,039 69,269 5,124,703 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 and classifications, the useful life of property and equipment, the valuation of deferred tax assets, the value of stock-based compensation, valuation of lease liabilities and related right of use assets 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 $ 0 2,430 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 The Company follows Accounting Standards Codification (ASC) 606, Revenue From Contracts With Customers. This revenue recognition standard has a five step process: a) Determine whether a contract exists; b) Identify the performance obligations; c) Determine the transaction price; d) Allocate the transaction price; and e) Recognize revenue when (or as) performance obligations are satisfied. 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 Companys products is typically recorded as a reduction in revenues. See Note 12 for revenue disaggregation disclosures. Cost of Sales The primary components of cost of sales include the cost of the product and shipping fees. 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 $ 71,677 12,621 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 Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures (ASC 820), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that requires the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Companys financial position or operating results, but did expand certain disclosures. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: 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 entitys own assumptions. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Boards (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. 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 assets estimated fair value and its book value. The Company did not record any impairment loss during the three months ended August 31, 2021 and 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 (ASC 718), which requires recognition in the financial statements of the cost of employee and non-employee services received in exchange for an award of equity instruments over the period the employee or non-employee is required to perform the services in exchange for the award (presumptively, the vesting period). ASC 718 also requires measurement of the cost of employee, non-employee and director services received in exchange for an award based on the grant-date fair value of the award. 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 August 31, 2021 and 2020, the Company had no potentially dilutive securities outstanding related to common stock. Lease Accounting In February 2016, the FASB issued ASU No. 2016-02, Leases The Company renewed lease for its corporate headquarters commencing December 1, 2019, under lease agreements classified as an operating lease. Please see Note 10 – Leases below for more information about the Companys leases. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entitys Own Equity In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes 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 | 3 Months Ended |
Aug. 31, 2021 | |
Credit Loss [Abstract] | |
Accounts Receivable | Note 3 – Accounts Receivable Accounts receivable, consisted of the following: Schedule of accounts receivable August 31, 2021 May 31, 2021 Accounts Receivable $ 101,542 $ 93,756 Less: Allowance for doubtful debts (5,195 ) (2,879 ) Accounts receivable, net $ 96,347 $ 90,877 The Company recorded bad debt expense of $ 2,316 574 |
Inventory
Inventory | 3 Months Ended |
Aug. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Inventory | Note 4 – Inventory Inventory consisted of the following: Schedule of Inventory August 31, 2021 May 31, 2021 Finished Goods $ 272,852 $ 15,056 Raw Materials $ 24,362 $ 475,796 Inventory, net $ 297,214 $ 490,852 Less: Inventory, non-current $ (39,874 ) $ (39,874 ) Current Inventory $ 257,340 $ 450,978 At August 31, 2021 and May 31, 2021, inventory held at third party locations amounted to $ 11,902 23,401 As of August 31, 2021 and May 31, 2021, the Company had an allowance of $ 19,156 |
Property and Equipment
Property and Equipment | 3 Months Ended |
Aug. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Note 5 – Property and Equipment Property and equipment, stated at cost, consisted of the following: Schedule of Property and Equipment Estimated Life August 31, 2021 May 31, 2021 Furniture and Fixtures 5 years $ 5,759 $ 5,759 Computer Equipment 3 years 17,392 17,392 Plant Equipment 5 10 years 45,128 45,128 Less:Accumulated Depreciation (33,609 ) (31,263 ) Property and equipment, net $ 34,670 $ 37,016 Depreciation expense amounted to $ 2,346 2,564 |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 3 Months Ended |
Aug. 31, 2021 | |
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: Schedule of Accounts Payable and Accrued Expenses August 31, 2021 May 31, 2021 Trade Payables $ 366,106 $ 436,138 Credit Cards 5,476 11,115 Other 8,924 11,709 Accounts Payable and Accrued Expenses, net $ 380,506 $ 458,962 |
Equipment Payable
Equipment Payable | 3 Months Ended |
Aug. 31, 2021 | |
Equipment Payable | |
Equipment Payable | Note 7 – Equipment Payable During the year ended May 31, 2019, the Company purchased a forklift under an installment purchase plan. The loan amount is $16,500 payable in 60 monthly installment payments of $317 comprising of principal payment of $275 and interest payment of $42. As at August 31, 2021 and May 31, 2021, the balance outstanding on the loan was $ 7,975 8,800 125 125 The amounts of loan payments due in the next five years ended August 31, are as follows: Schedule of Loan Payment Due Total 2022 $ 3,300 2023 $ 3,300 2024 $ 1,375 Equipment Payable, Net $ 7,975 |
Loan Payable
Loan Payable | 3 Months Ended |
Aug. 31, 2021 | |
Debt Disclosure [Abstract] | |
Loan Payable | Note 8 – Loan Payable During the year ended May 31, 2020, a commercial bank granted to the Company a loan (the Loan) in the amount of $12,900, which is administered under the authority and regulations of the U.S. Small Business Administration pursuant to the Paycheck Protection Program (the PPP) of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act). The Loan was evidenced by a note dated May 8, 2020, bore interest at an annual rate of 1.0% and matured on May 8, 2022. The Note may be prepaid without penalty, at the option of the Company, at any time prior to maturity. Proceeds from loans granted under the CARES Act are intended to be used for payroll, costs to continue employee group health care benefits, rent, utilities, and certain other qualified costs (collectively, qualifying expenses). The Company intends to use the loan proceeds for qualifying expenses. The Companys borrowings under the Loan may be eligible for loan forgiveness if used for qualifying expenses incurred during the covered period, as defined in the CARES Act, except that the amount of loan forgiveness is limited to the amount of qualifying expenses incurred during the 8-week period commencing on the loan effective date. In addition, the amount of any loan forgiveness may be reduced if there is a decrease in the average number of full-time equivalent employees of the Company during the covered period, compared to the comparable period in the prior calendar year. The Companys indebtedness, after any such loan forgiveness, is payable in 18 equal monthly installments commencing on November 8, 2020, with all amounts due and payable by the maturity. The Company did not pay any installment of the loan and recorded an accrued interest of $120 on the loan during the year ended May 31, 2021. On March 19, 2021 the loan was forgiven by the US Small Business Administration and the Company recorded a gain on debt forgiveness of $13,020 in the accompanying financials for the forgiveness of principal amount of $12,900 and accrued interest of $120. During the year ended May 31, 2020, a commercial bank granted to the Company a loan (the Loan) in the amount of $150,000, which is administered under the authority and regulations of the U.S. Small Business Administration pursuant to the Economic Injury Disaster Loan Program (the EIDL) of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act). The Loan, which is evidenced by a note dated May 18, 2020, bears interest at an annual rate of 3.75% and is payable installments of $731 per month, beginning May 18, 2021 until May 13, 2050. The Company has to maintain a hazard insurance policy including fire, lightning, and extended coverage on all items used to secure this loan to at least 80% of the insurable value. Proceeds from loans granted under the CARES Act are intended to be used for payroll, costs to continue employee group health care benefits, rent, utilities, and certain other qualified costs (collectively, qualifying expenses). The Company intends to use the loan proceeds for qualifying expenses. The Companys borrowings under the loan may be eligible for up to $10,000 of loan forgiveness. During the three months ended August 31, 2021, the Company received additional $10,000 under the program. The Company recorded an accrued interest of $7,374 and $5,923, as of August 31, 2021 and May 31, 2021, respectively. The Company has not paid any installment of the loan as of August 31, 2021. On February 7, 2021, a commercial bank granted to the Company a loan (the Loan) in the amount of $6,300, which is administered under the authority and regulations of the U.S. Small Business Administration pursuant to the Second Draw Paycheck Protection Program (the PPP) of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act). The Loan, which is evidenced by a note dated February 7, 2021, bears interest at an annual rate of 1.0% and matures on February 6, 2026. The Note may be prepaid without penalty, at the option of the Company, at any time prior to maturity. Proceeds from loans granted under the CARES Act are intended to be used for payroll, costs to continue employee group health care benefits, rent, utilities, and certain other qualified costs (collectively, qualifying expenses). The Company intends to use the loan proceeds for qualifying expenses. The Companys borrowings under the Loan may be eligible for loan forgiveness if used for qualifying expenses incurred during the covered period, as defined in the CARES Act. The Companys indebtedness, after any such loan forgiveness, is payable in 54 equal monthly installments commencing on September 7, 2021, with all amounts due and payable by the maturity. Schedule of Loan Payable August 31, May 31, 2021 2021 Second Draw Paycheck Protection Program (PPP- 2) $ 6,300 $ 6,300 Economic Injury Disaster Loan Program (EIDL) $ 160,000 $ 150,000 Total $ 166,300 $ 156,300 Less: Current portion $ (15,379 ) $ (4,261 ) Non-current portion $ 150,921 $ 152,039 The amounts of loan payments due in the next five years ended August 31, are as follows: Schedule of loan payments due in the next five years Total 2022 $ 15,379 2023 $ 4,552 2024 $ 4,686 2025 $ 4,825 2026 $ 4,248 Thereafter $ 132,610 Total $ 166,300 |
Stockholders_ Equity
Stockholders’ Equity | 3 Months Ended |
Aug. 31, 2021 | |
Equity [Abstract] | |
Stockholders’ Equity | Note 9 – Stockholders Equity Shares Authorized The authorized capital of the Company consists of 100,000,000 0.0001 20,000,000 0.0001 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. Common Stock As of August 31, 2021, 41,945,881 No shares were issued during the three month period ended August 31, 2021. During the three month period ended August 31, 2020, the Company issued 200,000 16,000 |
Commitments and contingencies
Commitments and contingencies | 3 Months Ended |
Aug. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | Note 10 – Commitments and contingencies Leases As discussed in Note 2 above, the Company adopted ASU No. 2016-02, Leases 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 7,567 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 Companys right to use an underlying asset for the entirety of the lease term. Lease liabilities represent the Companys 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 Companys 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 Companys 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 Companys 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 August 31, 2021 and 2020, the Company recorded a lease expense in the amount of $23,559 and $23,559, respectively. As of August 31, 2021, the lease liability balance was $112,000 and the right of use asset balance was $108,574. A lease term of three years and a discount rate of 12% was used. Supplemental balance sheet information related to leases was as follows: Schedule of Supplemental balance sheet information Assets August 31, 2021 Right of use assets $ 235,748 Accumulated reduction (127,175 ) Operating lease assets, net $ 108,574 Liabilities Lease liability $ 235,748 Accumulated reduction (123,748 ) Total lease liability, net 112,000 Current portion (88,065 ) Non-current portion $ 23,935 Maturities of operating lease liabilities were as follows as of August 31, 2021: Schedule of future minimum rental payments required under operating lease Operating Lease Year 1 $ 96,805 Year 2 24,415 Total 121,220 Less: Imputed interest (9,220 ) Present value of lease liabilities $ 112,000 Contingencies On November 23, 2020, the Company was served a copy of a complaint filed by Jacksonfill, LLC in the Fourth Circuit Court for Duval County, Florida. The complaint alleges breach of Agreement for non-payments for certain products against the Company. The allegations arise from alleged discrepancies discovered by the Company in the manufacturing of certain product. The Company has retained counsel and intends to vigorously defend the allegations. The product was delivered to the Company. However, the Company believes that the product was defective. The amount of the claim of $204,182 has been recorded as accounts payable, in the accompanying financial statements as of August 31, 2021. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Aug. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 11 – Related Party Transactions The Companys Chief Executive Officer, from time to time, provided advances to the Company for working capital purposes. At August 31, 2021 and 2020, the Company had a payable to the officer of $62,574 and $54,304, respectively. These advances are due on demand and non-interest bearing. |
Concentrations
Concentrations | 3 Months Ended |
Aug. 31, 2021 | |
Risks and Uncertainties [Abstract] | |
Concentrations | Note 12 – Concentrations 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 Companys account at this institution is insured by the Federal Deposit Insurance Corporation (FDIC) up to $ 250,000 253,694 224,395 Concentration of Revenue, Product Line, and Supplier During the three months ended August 31, 2021 sales to two 48% 14% 34% three 63% 11% 12% 40% During the three months ended August 31, 2021 sales to customers outside the United States represented approximately 9% 26% During the three months ended August 31, 2021, sales by product line which each represented over 10% of sales consisted of approximately 11% from sales of hair shampoo, 34% from sales of hair shampoo and conditioner and 35% from sale of introductory kit (shampoo, conditioner and treatment spray). During the three months ended August 31, 2020, sales by product lines which each represented over 10% of sales consisted of approximately 22% from sale of introductory kit (shampoo, conditioner and treatment spray), 12% from prep cleanser and shampoo and 39% from sale of fragrance shampoo and conditioner. During the three months ended August 31, sales by product line comprised of the following: Schedule of Sales by Product Line For the Three Months ended Hair Care Products August 31, 2021 August 31, 2020 Shampoos and Conditioners 91 % 86 % Ancillary Products 9 % 14 % Total 100 % 100 % At August 31, 2021, accounts receivable from five 86% 11% 12% 14% 23% 26% four 83% 11% 12% 25% 35% The Company purchased inventories and products from two 39,802 87% one 250,514 86% |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Aug. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The unaudited financial statements for the three months ended August 31, 2021, and 2020 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 August 31, 2021, and 2020, 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 Companys annual report on Form 10-K for the year ended May 31, 2021. The results of operations for the three months ended August 31, 2021 are not necessarily indicative of the results to be expected for the full year. |
Risk and Uncertainty Concerning COVID-19 Pandemic | Risk and Uncertainty Concerning COVID-19 Pandemic In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic which continues to spread throughout the United States and the World. We are currently monitoring the outbreak of COVID-19 and the related business and travel restrictions and changes to behavior intended to reduce its spread. All of our Chinese facilities were temporarily closed for a period of time. Most of these facilities have been reopened since July 2020. Depending on the progression of the outbreak, our ability to obtain necessary supplies and ship finished products to customers may be partly or completely disrupted globally. Also, our ability to maintain appropriate labor levels could be disrupted. If the coronavirus continues to progress, it could have a material negative impact on our results of operations and cash flow, in addition to the impact on its employees. We have concluded that while it is reasonably possible that the virus could have a negative impact on the results of operations, the specific impact is not readily determinable as of the date of these financial statements. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. Management is focused on growing the Companys existing products offering, as well as its customer base, to increase its revenues. The Company cannot give assurance that it can increase its cash balances or limit its cash consumption and thus maintain sufficient cash balances for its planned operations or future acquisitions. Future business demands may lead to cash utilization at levels greater than recently experienced. The Company may need to raise additional capital in the future. However, the Company cannot assure that it will be able to raise additional capital on acceptable terms, or at all. Subject to the foregoing, management believes that the Company has sufficient capital and liquidity to fund its operations for at least one year from the date of issuance of the accompanying financial statements. |
Going Concern | Going Concern As reflected in the accompanying financial statements, the Company had a net loss of $ 16,039 69,269 5,124,703 |
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 and classifications, the useful life of property and equipment, the valuation of deferred tax assets, the value of stock-based compensation, valuation of lease liabilities and related right of use assets 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 $ 0 2,430 |
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 The Company follows Accounting Standards Codification (ASC) 606, Revenue From Contracts With Customers. This revenue recognition standard has a five step process: a) Determine whether a contract exists; b) Identify the performance obligations; c) Determine the transaction price; d) Allocate the transaction price; and e) Recognize revenue when (or as) performance obligations are satisfied. 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 Companys products is typically recorded as a reduction in revenues. See Note 12 for revenue disaggregation disclosures. |
Cost of Sales | Cost of Sales The primary components of cost of sales include the cost of the product and shipping fees. |
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 $ 71,677 12,621 |
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 Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures (ASC 820), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that requires the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Companys financial position or operating results, but did expand certain disclosures. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: 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 entitys own assumptions. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Boards (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. |
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 assets estimated fair value and its book value. The Company did not record any impairment loss during the three months ended August 31, 2021 and 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 (ASC 718), which requires recognition in the financial statements of the cost of employee and non-employee services received in exchange for an award of equity instruments over the period the employee or non-employee is required to perform the services in exchange for the award (presumptively, the vesting period). ASC 718 also requires measurement of the cost of employee, non-employee and director services received in exchange for an award based on the grant-date fair value of the award. |
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 August 31, 2021 and 2020, the Company had no potentially dilutive securities outstanding related to common stock. |
Lease Accounting | Lease Accounting In February 2016, the FASB issued ASU No. 2016-02, Leases The Company renewed lease for its corporate headquarters commencing December 1, 2019, under lease agreements classified as an operating lease. Please see Note 10 – Leases below for more information about the Companys leases. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entitys Own Equity In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes 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) | 3 Months Ended |
Aug. 31, 2021 | |
Credit Loss [Abstract] | |
Schedule of accounts receivable | Accounts receivable, consisted of the following: Schedule of accounts receivable |
Accounts Receivable | August 31, 2021 May 31, 2021 Accounts Receivable $ 101,542 $ 93,756 Less: Allowance for doubtful debts (5,195 ) (2,879 ) Accounts receivable, net $ 96,347 $ 90,877 |
Inventory (Tables)
Inventory (Tables) | 3 Months Ended |
Aug. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory | Inventory consisted of the following: Schedule of Inventory |
Inventory | August 31, 2021 May 31, 2021 Finished Goods $ 272,852 $ 15,056 Raw Materials $ 24,362 $ 475,796 Inventory, net $ 297,214 $ 490,852 Less: Inventory, non-current $ (39,874 ) $ (39,874 ) Current Inventory $ 257,340 $ 450,978 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 3 Months Ended |
Aug. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | Property and equipment, stated at cost, consisted of the following: Schedule of Property and Equipment |
Property and Equipment | Estimated Life August 31, 2021 May 31, 2021 Furniture and Fixtures 5 years $ 5,759 $ 5,759 Computer Equipment 3 years 17,392 17,392 Plant Equipment 5 10 years 45,128 45,128 Less:Accumulated Depreciation (33,609 ) (31,263 ) Property and equipment, net $ 34,670 $ 37,016 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Expenses (Tables) | 3 Months Ended |
Aug. 31, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses comprised of the following: Schedule of Accounts Payable and Accrued Expenses |
Accounts Payable and Accrued Expenses | August 31, 2021 May 31, 2021 Trade Payables $ 366,106 $ 436,138 Credit Cards 5,476 11,115 Other 8,924 11,709 Accounts Payable and Accrued Expenses, net $ 380,506 $ 458,962 |
Equipment Payable (Tables)
Equipment Payable (Tables) | 3 Months Ended |
Aug. 31, 2021 | |
Equipment Payable | |
Schedule of Loan Payment Due | The amounts of loan payments due in the next five years ended August 31, are as follows: Schedule of Loan Payment Due |
Equipment Payable | Total 2022 $ 3,300 2023 $ 3,300 2024 $ 1,375 Equipment Payable, Net $ 7,975 |
Loan Payable (Tables)
Loan Payable (Tables) | 3 Months Ended |
Aug. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Loan Payable | Schedule of Loan Payable |
Loans Payable | August 31, May 31, 2021 2021 Second Draw Paycheck Protection Program (PPP- 2) $ 6,300 $ 6,300 Economic Injury Disaster Loan Program (EIDL) $ 160,000 $ 150,000 Total $ 166,300 $ 156,300 Less: Current portion $ (15,379 ) $ (4,261 ) Non-current portion $ 150,921 $ 152,039 |
Schedule of loan payments due in the next five years | The amounts of loan payments due in the next five years ended August 31, are as follows: Schedule of loan payments due in the next five years |
Loans Payable (Details 2) | Total 2022 $ 15,379 2023 $ 4,552 2024 $ 4,686 2025 $ 4,825 2026 $ 4,248 Thereafter $ 132,610 Total $ 166,300 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 3 Months Ended |
Aug. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Supplemental balance sheet information | Supplemental balance sheet information related to leases was as follows: Schedule of Supplemental balance sheet information |
Commitments and Contingencies | Assets August 31, 2021 Right of use assets $ 235,748 Accumulated reduction (127,175 ) Operating lease assets, net $ 108,574 Liabilities Lease liability $ 235,748 Accumulated reduction (123,748 ) Total lease liability, net 112,000 Current portion (88,065 ) Non-current portion $ 23,935 |
Schedule of future minimum rental payments required under operating lease | Maturities of operating lease liabilities were as follows as of August 31, 2021: Schedule of future minimum rental payments required under operating lease |
Commitments and Contingencies (Details 2) | Operating Lease Year 1 $ 96,805 Year 2 24,415 Total 121,220 Less: Imputed interest (9,220 ) Present value of lease liabilities $ 112,000 |
Concentrations (Tables)
Concentrations (Tables) | 3 Months Ended |
Aug. 31, 2021 | |
Risks and Uncertainties [Abstract] | |
Schedule of Sales by Product Line | During the three months ended August 31, sales by product line comprised of the following: Schedule of Sales by Product Line |
Concentrations | For the Three Months ended Hair Care Products August 31, 2021 August 31, 2020 Shampoos and Conditioners 91 % 86 % Ancillary Products 9 % 14 % Total 100 % 100 % |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | May 31, 2021 | |
Net Loss | $ 16,039 | $ 69,269 | |
Accumulated Deficit | 5,124,703 | $ 5,108,664 | |
Prepaid Expense and Other Current Assets | 0 | $ 2,430 | |
Marketing and Selling Expense | 351,622 | 70,976 | |
Customer [Member] | |||
Marketing and Selling Expense | $ 71,677 | $ 12,621 |
Accounts Receivable (Details)
Accounts Receivable (Details) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Credit Loss [Abstract] | ||
Accounts Receivable | $ 101,542 | $ 93,756 |
Less: Allowance for doubtful debts | (5,195) | (2,879) |
Accounts receivable, net | $ 96,347 | $ 90,877 |
Accounts Receivable (Details Na
Accounts Receivable (Details Narrative) - USD ($) | 3 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
Credit Loss [Abstract] | ||
Bad Debt Expenses | $ 2,316 | $ 574 |
Inventory (Details)
Inventory (Details) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Inventory Disclosure [Abstract] | ||
Finished Goods | $ 272,852 | $ 15,056 |
Raw Materials | 24,362 | 475,796 |
Inventory, net | 297,214 | 490,852 |
Less: Inventory, non-current | (39,874) | (39,874) |
Current Inventory | $ 257,340 | $ 450,978 |
Inventory (Details Narrative)
Inventory (Details Narrative) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Inventory Disclosure [Abstract] | ||
Inventory Held at Third Party Location | $ 11,902 | $ 23,401 |
Inventory Valuation Reserves | $ 19,156 | $ 19,156 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | 3 Months Ended | |
Aug. 31, 2021 | May 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Plant Equipment | $ 45,128 | $ 45,128 |
Less:Accumulated Depreciation | (33,609) | (31,263) |
Property and equipment, net | 34,670 | 37,016 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Plant Equipment | $ 5,759 | 5,759 |
Property, Plant and Equipment, Useful Life | 5 years | |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Plant Equipment | $ 17,392 | $ 17,392 |
Property, Plant and Equipment, Useful Life | 3 years | |
Machinery and Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Useful Life | 10 years |
Property and Equipment (Detai_2
Property and Equipment (Details Narrative) - USD ($) | 3 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation | $ 2,346 | $ 2,564 |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Expenses (Details) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Payables and Accruals [Abstract] | ||
Trade Payables | $ 366,106 | $ 436,138 |
Credit Cards | 5,476 | 11,115 |
Other | 8,924 | 11,709 |
Accounts Payable and Accrued Expenses, net | $ 380,506 | $ 458,962 |
Equipment Payable (Details)
Equipment Payable (Details) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Equipment Payable | ||
2022 | $ 3,300 | $ 3,300 |
2023 | 3,300 | |
2024 | 1,375 | |
Equipment Payable, Net | $ 7,975 | $ 8,800 |
Equipment Payable (Details Narr
Equipment Payable (Details Narrative) - USD ($) | 3 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | May 31, 2021 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||
Equipment Financing Payable | $ 7,975 | $ 8,800 | |
Interest Expense | 1,576 | $ 1,236 | |
Consultant [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||
Interest Expense | $ 125 | $ 125 |
Loans Payable (Details)
Loans Payable (Details) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Guarantor Obligations [Line Items] | ||
Total | $ 166,300 | $ 156,300 |
Less: Current portion | (15,379) | (4,261) |
Non-current portion | 150,921 | 152,039 |
Paycheck Protection Program 2 [Member] | ||
Guarantor Obligations [Line Items] | ||
Total | 6,300 | 6,300 |
Economic Injury Disaster Loan Program [Member] | ||
Guarantor Obligations [Line Items] | ||
Total | $ 160,000 | $ 150,000 |
Loans Payable (Details 2)
Loans Payable (Details 2) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Debt Disclosure [Abstract] | ||
2022 | $ 15,379 | |
2023 | 4,552 | |
2024 | 4,686 | |
2025 | 4,825 | |
2026 | 4,248 | |
Thereafter | 132,610 | |
Total | $ 166,300 | $ 156,300 |
Stockholders_ Equity (Details N
Stockholders’ Equity (Details Narrative) - USD ($) | 3 Months Ended | ||
Aug. 31, 2020 | Aug. 31, 2021 | May 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |
Common Stock, Shares, Issued | 41,945,881 | 41,945,881 | |
Common Stock, Shares, Outstanding | 41,945,881 | 41,945,881 | |
Stock Issued During Period, Value, Issued for Services | $ 16,000 | ||
Common Stock [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Stock Issued During Period, Shares, Issued for Services | 200,000 | ||
Stock Issued During Period, Value, Issued for Services | $ 20 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) | Aug. 31, 2021 | May 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
Lease liability | $ 235,748 | |
Accumulated reduction | (127,175) | |
Operating lease assets, net | 108,574 | $ 128,375 |
Accumulated reduction | (123,748) | |
Total lease liability, net | 112,000 | |
Current portion | (88,065) | (84,635) |
Non-current portion | $ 23,935 | $ 47,166 |
Commitments and Contingencies_3
Commitments and Contingencies (Details 2) | Aug. 31, 2021USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Year 1 | $ 96,805 |
Year 2 | 24,415 |
Total | 121,220 |
Less: Imputed interest | (9,220) |
Present value of lease liabilities | $ 112,000 |
Commitments and contingencies_4
Commitments and contingencies (Details Narrative) | 3 Months Ended |
Aug. 31, 2021USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
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 per month for the first year and increase by a certain amount each year. |
Lease agreement period | 3 years |
Monthly base rent | $ 7,567 |
Concentrations (Details)
Concentrations (Details) - Revenue Benchmark [Member] | 3 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
Concentration Risk [Line Items] | ||
Total | 48.00% | 63.00% |
Shampoos And Conditioners [Member] | ||
Concentration Risk [Line Items] | ||
Total | 91.00% | 86.00% |
Ancillary Products [Member] | ||
Concentration Risk [Line Items] | ||
Total | 9.00% | 14.00% |
Product [Member] | ||
Concentration Risk [Line Items] | ||
Total | 100.00% | 100.00% |
Concentrations (Details Narrati
Concentrations (Details Narrative) | 3 Months Ended | 12 Months Ended | |
Aug. 31, 2021USD ($)CustomerVendow | Aug. 31, 2020USD ($)CustomerVendow | May 31, 2021USD ($)Customer | |
Concentration Risk [Line Items] | |||
Cash, FDIC Insured Amount | $ 250,000 | ||
Cash, Uninsured Amount | $ 253,694 | $ 224,395 | |
Revenue Benchmark [Member] | |||
Concentration Risk [Line Items] | |||
Number of customers | Customer | 2 | 3 | |
Concentration risk percentage | 48.00% | 63.00% | |
Revenue Benchmark [Member] | Outside United States [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 9.00% | 26.00% | |
Revenue Benchmark [Member] | Canada [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 9.00% | 26.00% | |
Revenue Benchmark [Member] | Customer One [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 14.00% | 11.00% | |
Revenue Benchmark [Member] | Customer Two [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 34.00% | 12.00% | |
Revenue Benchmark [Member] | Customer Three [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 40.00% | ||
Accounts Receivable [Member] | |||
Concentration Risk [Line Items] | |||
Number of customers | Customer | 5 | 4 | |
Concentration risk percentage | 86.00% | 83.00% | |
Accounts Receivable [Member] | Customer One [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 11.00% | 11.00% | |
Accounts Receivable [Member] | Customer Two [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 12.00% | 12.00% | |
Accounts Receivable [Member] | Customer Three [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 14.00% | 25.00% | |
Accounts Receivable [Member] | Customer Four [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 23.00% | 35.00% | |
Accounts Receivable [Member] | Customer Five [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk percentage | 26.00% | ||
Vendors [Member] | |||
Concentration Risk [Line Items] | |||
Number of vendors | Vendow | 2 | 1 | |
Purchased inventories and products | $ 39,802 | $ 250,514 | |
Percentage of purchases | 87.00% | 86.00% |