$GLGI
GREYSTONE LOGISTICS, INC.

2022 Q4 Form 10-Q Financial Statement

#000149315222028381 Filed on October 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $12.10M $18.95M $14.77M
YoY Change -23.62% 28.29% -15.9%
Cost Of Revenue $10.88M $16.49M $13.31M
YoY Change -26.83% 23.87% -8.88%
Gross Profit $1.222M $2.463M $1.462M
YoY Change 25.12% 68.47% -50.58%
Gross Profit Margin 10.1% 13.0% 9.9%
Selling, General & Admin $1.206M $1.106M $1.219M
YoY Change 6.36% -9.27% 6.87%
% of Gross Profit 98.66% 44.89% 83.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.351M $1.369M $1.374M
YoY Change -4.19% -0.36% -7.84%
% of Gross Profit 110.56% 55.59% 94.0%
Operating Expenses $1.206M $1.106M $1.219M
YoY Change 6.36% -9.27% 6.87%
Operating Profit $16.39K $1.358M $243.5K
YoY Change -110.44% 457.54% -86.61%
Interest Expense -$288.3K -$219.5K -$223.4K
YoY Change 40.12% -1.75% -38.24%
% of Operating Profit -1759.55% -16.17% -91.73%
Other Income/Expense, Net $680.00 $5.640K $26.83K
YoY Change -86.97% -78.98% 312.14%
Pretax Income -$271.2K $1.714M $3.115M
YoY Change -24.12% -44.99% 112.93%
Income Tax -$84.00K $340.0K -$7.000K
% Of Pretax Income 19.84% -0.22%
Net Earnings -$187.2K $1.374M $3.053M
YoY Change -37.13% -55.0% 224.04%
Net Earnings / Revenue -1.55% 7.25% 20.66%
Basic Earnings Per Share -$0.01 $0.04 $0.10
Diluted Earnings Per Share -$0.01 $0.04 $94.77K
COMMON SHARES
Basic Shares Outstanding 28.28M shares 28.28M shares 28.39M shares
Diluted Shares Outstanding 28.28M shares 32.11M shares 32.21M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.019M $2.935M $2.888M
YoY Change -92.72% 1.61% 251.78%
Cash & Equivalents $1.019M $2.935M $2.888M
Short-Term Investments
Other Short-Term Assets $171.7K $65.19K
YoY Change -43.07% -4.6%
Inventory $5.107M $6.337M $3.119M
Prepaid Expenses $171.7K $71.42K
Receivables $4.387M $4.730M $5.285M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.90M $14.29M $11.36M
YoY Change -53.65% 25.78% 33.94%
LONG-TERM ASSETS
Property, Plant & Equipment $28.32M $29.40M $30.74M
YoY Change -5.4% -4.38% -7.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $33.75M $34.92M $30.74M
YoY Change 12.75% 13.58% -7.65%
TOTAL ASSETS
Total Short-Term Assets $10.90M $14.29M $11.36M
Total Long-Term Assets $33.75M $34.92M $30.74M
Total Assets $44.65M $49.20M $42.10M
YoY Change -16.46% 16.87% 0.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.550M $8.243M $4.452M
YoY Change 21.02% 85.14% 11.41%
Accrued Expenses $244.2K $244.6K $45.68K
YoY Change 604.88% 435.42% -38.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.101M $2.604M $4.780M
YoY Change -53.21% -45.51% -30.27%
Total Short-Term Liabilities $8.086M $13.01M $14.67M
YoY Change -69.01% -11.31% 18.83%
LONG-TERM LIABILITIES
Long-Term Debt $14.96M $13.95M $10.75M
YoY Change 34.67% 29.74% -42.64%
Other Long-Term Liabilities $5.191M $5.276M $45.21K
YoY Change 13524.57% 11569.43% -49.37%
Total Long-Term Liabilities $14.96M $13.95M $10.80M
YoY Change 34.21% 29.2% -42.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.086M $13.01M $14.67M
Total Long-Term Liabilities $14.96M $13.95M $10.80M
Total Liabilities $23.05M $26.96M $29.09M
YoY Change -43.52% -7.34% -14.25%
SHAREHOLDERS EQUITY
Retained Earnings -$38.93M -$38.62M
YoY Change
Common Stock $2.828K $2.828K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.61M $14.91M $13.01M
YoY Change
Total Liabilities & Shareholders Equity $44.65M $49.20M $42.10M
YoY Change -16.46% 16.87% 0.79%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$187.2K $1.374M $3.053M
YoY Change -37.13% -55.0% 224.04%
Depreciation, Depletion And Amortization $1.351M $1.369M $1.374M
YoY Change -4.19% -0.36% -7.84%
Cash From Operating Activities -$5.700K -$3.304M $375.6K
YoY Change -100.05% -979.62% -88.17%
INVESTING ACTIVITIES
Capital Expenditures $653.6K $1.152M -$659.3K
YoY Change -174.33% -274.7% -11.47%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.810K $50.00K
YoY Change -105.62%
Cash From Investing Activities -$653.6K -$1.155M -$609.3K
YoY Change -25.67% 89.5% -18.18%
FINANCING ACTIVITIES
Cash Dividend Paid $85.38K
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.256M $4.250M -1.266M
YoY Change 966.23% -435.86% -53.82%
NET CHANGE
Cash From Operating Activities -5.700K -$3.304M 375.6K
Cash From Investing Activities -653.6K -$1.155M -609.3K
Cash From Financing Activities -1.256M $4.250M -1.266M
Net Change In Cash -1.916M -$208.4K -1.499M
YoY Change -117.25% -86.1% 382.39%
FREE CASH FLOW
Cash From Operating Activities -$5.700K -$3.304M $375.6K
Capital Expenditures $653.6K $1.152M -$659.3K
Free Cash Flow -$659.3K -$4.456M $1.035M
YoY Change -105.08% -530.56% -73.59%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001088413
CY2022Q3 dei Amendment Flag
AmendmentFlag
false
CY2022Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-31
CY2022Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2022Q3 us-gaap Other Assets Current
OtherAssetsCurrent
usd
CY2022Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
CY2021Q3 GLGI Gain On Deconsolidation Of Variable Interest Entity
GainOnDeconsolidationOfVariableInterestEntity
usd
CY2022Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
usd
CY2021Q3 GLGI Deconsolidation Of Variable Interest Entity
DeconsolidationOfVariableInterestEntity
usd
CY2022Q3 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
usd
CY2021Q3 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
usd
CY2022Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2021Q3 us-gaap Payments Of Dividends
PaymentsOfDividends
usd
CY2022Q3 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
usd
CY2021Q3 GLGI Deconsolidation Of Variable Interest Entity To Noncontrolling Interest
DeconsolidationOfVariableInterestEntityToNoncontrollingInterest
usd
CY2021Q3 GLGI Refinancing Of Certain Term Loans
RefinancingOfCertainTermLoans
usd
CY2022Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
usd
CY2022Q3 dei Document Type
DocumentType
10-Q
CY2022Q3 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2022Q3 dei Document Period End Date
DocumentPeriodEndDate
2022-08-31
CY2022Q3 dei Document Transition Report
DocumentTransitionReport
false
CY2022Q3 dei Entity File Number
EntityFileNumber
000-26331
CY2022Q3 dei Entity Registrant Name
EntityRegistrantName
GREYSTONE LOGISTICS, INC
CY2022Q3 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
OK
CY2022Q3 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
75-2954680
CY2022Q3 dei Entity Address Address Line1
EntityAddressAddressLine1
1613 East 15th Street
CY2022Q3 dei Entity Address City Or Town
EntityAddressCityOrTown
Tulsa
CY2022Q3 dei Entity Address State Or Province
EntityAddressStateOrProvince
OK
CY2022Q3 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
74120
CY2022Q3 dei City Area Code
CityAreaCode
(918)
CY2022Q3 dei Local Phone Number
LocalPhoneNumber
583-7441
CY2022Q3 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2022Q3 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2022Q3 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2022Q3 dei Entity Small Business
EntitySmallBusiness
true
CY2022Q3 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2022Q3 dei Entity Shell Company
EntityShellCompany
false
CY2022Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
28279701 shares
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2934898 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3143257 usd
CY2022Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4730076 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6001049 usd
CY2022Q3 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
213431 usd
CY2022Q2 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
252112 usd
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
156162 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
6336813 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
4112496 usd
CY2022Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
71415 usd
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
148078 usd
CY2022Q3 us-gaap Assets Current
AssetsCurrent
14286633 usd
CY2022Q2 us-gaap Assets Current
AssetsCurrent
13813154 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
29397701 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
31876765 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5520333 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
55535 usd
CY2022Q3 us-gaap Assets
Assets
49204667 usd
CY2022Q2 us-gaap Assets
Assets
45745454 usd
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
2604380 usd
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
4160403 usd
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1492365 usd
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1630895 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
244584 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
33881 usd
CY2022Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
8242556 usd
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
7820837 usd
CY2022Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
313527 usd
CY2022Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
5329047 usd
CY2022Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
109418 usd
CY2022Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
85377 usd
CY2022Q3 us-gaap Liabilities Current
LiabilitiesCurrent
13006830 usd
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
19060440 usd
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
13949456 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9306037 usd
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
251558 usd
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
532148 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5275749 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
21654 usd
CY2022Q3 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
1808694 usd
CY2022Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
1743694 usd
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20750000 shares
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20750000 shares
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
50000 shares
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
50000 shares
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
50000 shares
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
50000 shares
CY2022Q3 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
5000000 usd
CY2022Q2 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
5000000 usd
CY2022Q3 us-gaap Preferred Stock Value
PreferredStockValue
5 usd
CY2022Q2 us-gaap Preferred Stock Value
PreferredStockValue
5 usd
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
5000000000 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28279701 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28279701 shares
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28279701 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28279701 shares
CY2022Q3 us-gaap Common Stock Value
CommonStockValue
2828 usd
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
2828 usd
CY2022Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
53533272 usd
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
53533272 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-38623725 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-39838449 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
14912380 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
13697656 usd
CY2022Q2 us-gaap Minority Interest
MinorityInterest
1383825 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14912380 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15081481 usd
CY2022Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
49204667 usd
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
45745454 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18953599 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
14774399 usd
CY2022Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
16490453 usd
CY2021Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
13312305 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
2463146 usd
CY2021Q3 us-gaap Gross Profit
GrossProfit
1462094 usd
CY2022Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1105591 usd
CY2021Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1218604 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1357555 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
243490 usd
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
3068497 usd
CY2022Q3 GLGI Gain On Deconsolidation Of Variable Interest Entity
GainOnDeconsolidationOfVariableInterestEntity
569997 usd
CY2022Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
5635 usd
CY2021Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
26825 usd
CY2022Q3 us-gaap Interest Expense Other
InterestExpenseOther
219446 usd
CY2021Q3 us-gaap Interest Expense Other
InterestExpenseOther
223354 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1713741 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3115458 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
340000 usd
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
1373741 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
3122458 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
49599 usd
CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
69619 usd
CY2022Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
109418 usd
CY2021Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
81918 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1214724 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2970921 usd
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28279701 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28385114 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32106455 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32214447 shares
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11253040 usd
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
24000 usd
CY2021Q3 GLGI Cash Distribution To Noncontrolling Interest
CashDistributionToNoncontrollingInterest
-52200 usd
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.64
CY2021Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
81918 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
3122458 usd
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14265380 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15081481 usd
CY2022Q3 GLGI Cash Contribution To Noncontrolling Interest
CashContributionToNoncontrollingInterest
1669000 usd
CY2022Q3 GLGI Deconsolidation Of Variable Interest Entity To Noncontrolling Interest
DeconsolidationOfVariableInterestEntityToNoncontrollingInterest
3102424 usd
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
2.19
CY2022Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
109418 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
1373741 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14912380 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
1373741 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
3122458 usd
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
3068497 usd
CY2022Q3 GLGI Gain On Deconsolidation Of Variable Interest Entity
GainOnDeconsolidationOfVariableInterestEntity
569997 usd
CY2021Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
22336 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1370771 usd
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1374324 usd
CY2022Q3 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-65000 usd
CY2021Q3 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
7000 usd
CY2022Q3 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1427135 usd
CY2021Q3 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
578662 usd
CY2022Q3 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-38681 usd
CY2021Q3 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-33213 usd
CY2022Q3 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2224317 usd
CY2021Q3 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-322579 usd
CY2022Q3 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-76663 usd
CY2021Q3 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
12877 usd
CY2022Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
153634 usd
CY2021Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
336666 usd
CY2022Q3 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-5015520 usd
CY2021Q3 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1124225 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3304209 usd
CY2021Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
375643 usd
CY2022Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1151784 usd
CY2021Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
659279 usd
CY2022Q3 GLGI Deconsolidation Of Variable Interest Entity
DeconsolidationOfVariableInterestEntity
2806 usd
CY2021Q3 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
50000 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1154590 usd
CY2021Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-609279 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
7682425 usd
CY2021Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
837000 usd
CY2022Q3 us-gaap Repayments Of Debt
RepaymentsOfDebt
2694060 usd
CY2021Q3 us-gaap Repayments Of Debt
RepaymentsOfDebt
1931045 usd
CY2022Q3 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
3325394 usd
CY2021Q3 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
138591 usd
CY2022Q3 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1075000 usd
CY2022Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
71154 usd
CY2021Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4696 usd
CY2021Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
24000 usd
CY2022Q3 us-gaap Payments Of Dividends
PaymentsOfDividends
85377 usd
CY2022Q3 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
1669000 usd
CY2021Q3 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
52200 usd
CY2022Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4250440 usd
CY2021Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1265532 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-208359 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1499168 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3143257 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4387533 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2934898 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2888365 usd
CY2022Q3 GLGI Deconsolidation Of Variable Interest Entity To Noncontrolling Interest
DeconsolidationOfVariableInterestEntityToNoncontrollingInterest
3102424 usd
CY2022Q3 GLGI Refinancing Of Certain Term Loans
RefinancingOfCertainTermLoans
2669892 usd
CY2022Q3 GLGI Capital Expenditures In Accounts Payable
CapitalExpendituresInAccountsPayable
394213 usd
CY2021Q3 GLGI Capital Expenditures In Accounts Payable
CapitalExpendituresInAccountsPayable
410921 usd
CY2022Q3 GLGI Preferred Dividend Accruals
PreferredDividendAccruals
109418 usd
CY2021Q3 GLGI Preferred Dividend Accruals
PreferredDividendAccruals
81918 usd
CY2022Q3 us-gaap Interest Paid Net
InterestPaidNet
218693 usd
CY2021Q3 us-gaap Interest Paid Net
InterestPaidNet
221551 usd
CY2021Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
80000 usd
CY2022Q3 us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_80A_eus-gaap--BasisOfAccounting_zKJjDMzB6Esb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1. <span id="xdx_828_zPWyEJ9Jouuj">Basis of Financial Statements</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the opinion of Greystone Logistics, Inc. (“Greystone”), the accompanying unaudited consolidated financial statements contain all adjustments and reclassifications, which are of a normal recurring nature, necessary to present fairly its financial position as of August 31, 2022 and the results of its operations and cash flows for the three months ended August 31, 2022 and 2021. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the fiscal year ended May 31, 2022 and the notes thereto included in the Form 10-K/A for such period. The results of operations for the three months ended August 31, 2022 and 2021 are not necessarily indicative of the results to be expected for the full fiscal year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements of Greystone include its wholly owned subsidiaries, Greystone Manufacturing, L.L.C. (“GSM”) and Plastic Pallet Production, Inc. (“PPP”), and the variable interest entity, Greystone Real Estate, L.L.C. (“GRE”) for the period from June 1, 2022, through July 29, 2022. All material intercompany accounts and transactions have been eliminated in the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GRE owns the manufacturing facilities which are occupied by Greystone and is wholly owned by a member of Greystone’s Board of Directors. Effective July 29, 2022, GRE paid off its mortgage note payable, and in conjunction with the Company’s refinancing described in Note 6, GRE was removed from the cross-collateralization agreement. Following these transactions Greystone was no longer determined to be the primary beneficiary of GRE. Accordingly, GRE was deconsolidated from the Greystone consolidated financial statements as of July 29, 2022, resulting in the recognition of a gain in the amount of $<span id="xdx_90C_ecustom--GainOnDeconsolidationOfVariableInterestEntity_c20220601__20220831_zCswWRCyrA1c"><span id="xdx_901_ecustom--GainOnDeconsolidationOfVariableInterestEntity_c20220601__20220831_ztkB63tvqO22" title="Gain on deconsolidation of variable interest entity">569,997</span></span>. Subsequent to the deconsolidation, the Company entered into a new lease agreement with the related party and recorded right of use assets and liabilities for the new lease, see Note 7.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 GLGI Gain On Deconsolidation Of Variable Interest Entity
GainOnDeconsolidationOfVariableInterestEntity
569997 usd
CY2022Q3 GLGI Gain On Deconsolidation Of Variable Interest Entity
GainOnDeconsolidationOfVariableInterestEntity
569997 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1214724 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2970921 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28279701 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28385114 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1214724 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2970921 usd
CY2022Q3 GLGI Preferred Stock Dividends Due To Assumed Conversion
PreferredStockDividendsDueToAssumedConversion
109418 usd
CY2021Q3 GLGI Preferred Stock Dividends Due To Assumed Conversion
PreferredStockDividendsDueToAssumedConversion
81918 usd
CY2022Q3 GLGI Net Income Allocated To Common Stockholders
NetIncomeAllocatedToCommonStockholders
1324142 usd
CY2021Q3 GLGI Net Income Allocated To Common Stockholders
NetIncomeAllocatedToCommonStockholders
3052839 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28279701 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28385114 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
3826754 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
3829333 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32106455 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32214447 shares
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
2604380 usd
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
4160403 usd
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
2819372 usd
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
2091550 usd
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3517441 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2020946 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
6336813 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
4112496 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
63148434 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
66391904 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
33750733 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
34515139 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
29397701 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
31876765 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1369312 usd
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1373089 usd
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
15600 usd
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
12000 usd
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
16653282 usd
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
13496191 usd
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
99446 usd
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
29751 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
16553836 usd
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
13466440 usd
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
13949456 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9306037 usd
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1459 usd
CY2021Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1291 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2604380 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7531417 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1611635 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1369795 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2982402 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
553653 usd
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
20470 usd
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M6D
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2022Q3 GLGI Schedule Of Financing Lease Table Textblock
ScheduleOfFinancingLeaseTableTextblock
<p id="xdx_893_ecustom--ScheduleOfFinancingLeaseTableTextblock_zJh3xjpVePE9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing leases as of August 31, 2022 and May 31, 2022:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BD_zITCIFZmswxf" style="display: none">Schedule of Financing Lease</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49A_20220831_zfTTwwpsINxb" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">August 31, 2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_499_20220531_zQxZ2k6dcitg" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">May 31, 2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiability_iI_zLQeRAISQM8c" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Non-cancellable financing leases</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,743,923</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,163,043</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiabilityCurrent_iNI_di_z55Z4RFYxZN4" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Less: Current portion</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,492,365</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,630,895</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_407_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zedCKz2ZWzIe" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Non-cancellable financing leases, net of current portion</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">251,558</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">532,148</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table>
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1743923 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
2163043 usd
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1492365 usd
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1630895 usd
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
251558 usd
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
532148 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
8497798 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
8497798 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
3700137 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
3481223 usd
CY2022Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
4797661 usd
CY2022Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
5016575 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
218914 usd
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
252967 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
218914 usd
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
252967 usd
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
19509 usd
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
44966 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
52970 usd
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
20470 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
395810 usd
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
364285 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
687203 usd
CY2021Q3 us-gaap Lease Cost
LeaseCost
682688 usd
CY2022Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
19509 usd
CY2021Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
44966 usd
CY2022Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
419120 usd
CY2021Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
389204 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
52970 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y9M18D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.073 pure
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.074 pure
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060 pure
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053 pure
CY2022Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1586050 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
568915 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
239373 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
550160 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
13953 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
534000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
3007 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
534000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
536230 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5700670 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1842383 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8423975 usd
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
68770 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2903642 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1743923 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
5520333 usd
CY2022Q3 GLGI Purchases From Customers
PurchasesFromCustomers
226232 usd
CY2021Q3 GLGI Purchases From Customers
PurchasesFromCustomers
158365 usd
CY2022Q3 us-gaap Purchase Obligation
PurchaseObligation
5053390 usd

Files In Submission

Name View Source Status
0001493152-22-028381-index-headers.html Edgar Link pending
0001493152-22-028381-index.html Edgar Link pending
0001493152-22-028381.txt Edgar Link pending
0001493152-22-028381-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
glgi-20220831.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
glgi-20220831_def.xml Edgar Link unprocessable
glgi-20220831_cal.xml Edgar Link unprocessable
glgi-20220831_lab.xml Edgar Link unprocessable
glgi-20220831_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable