Note 3. Accounts Payable and Accrued Liabilities and Compensation

As of February 29, 2024, and May 31, 2023, the accounts payable balance was approximately $62.1 million and $62.7 million, respectively, with two vendors accounting for 71% and 72% of the total balance of accounts payable at the respective dates.

The components of accrued liabilities and compensation are as follows (in thousands):

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