Accounts Payable and Accrued Liabilities
|3 Months Ended|
Aug. 31, 2021
|Payables and Accruals [Abstract]|
|Accounts Payable and Accrued Liabilities||
Note 4. Accounts Payable and Accrued Liabilities
As of August 31, 2021 and May 31, 2021, the accounts payable balance was approximately $65.9 million at each period end. As of August 31, 2021 and May 31, 2021, two of the Company’s vendors accounted for approximately 72% and 15% and 72% and 14%, respectively, of the total balance of accounts payable.
The components of accrued liabilities were as follows as of August 31, 2021 and May 31, 2021:
As of August 31, 2021, the approximately $1.2 million of accrued legal settlement and fees related entirely to accrued legal fees. As of May 31, 2021, the approximately $11.0 million of accrued legal settlement and fees was comprised of approximately $10.6 million related to legal settlements, and the remaining amount related to accrued legal fees.
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef