false
2024
Q3
--05-31
0001718500
0001718500
2023-06-01
2024-02-29
0001718500
2024-04-09
0001718500
2024-02-29
0001718500
2023-05-31
0001718500
2023-12-01
2024-02-29
0001718500
2022-12-01
2023-02-28
0001718500
2022-06-01
2023-02-28
0001718500
us-gaap:PreferredStockMember
2023-05-31
0001718500
us-gaap:CommonStockMember
2023-05-31
0001718500
us-gaap:AdditionalPaidInCapitalMember
2023-05-31
0001718500
us-gaap:RetainedEarningsMember
2023-05-31
0001718500
us-gaap:PreferredStockMember
2023-11-30
0001718500
us-gaap:CommonStockMember
2023-11-30
0001718500
us-gaap:AdditionalPaidInCapitalMember
2023-11-30
0001718500
us-gaap:RetainedEarningsMember
2023-11-30
0001718500
2023-11-30
0001718500
us-gaap:PreferredStockMember
2022-05-31
0001718500
us-gaap:CommonStockMember
2022-05-31
0001718500
us-gaap:AdditionalPaidInCapitalMember
2022-05-31
0001718500
us-gaap:RetainedEarningsMember
2022-05-31
0001718500
2022-05-31
0001718500
us-gaap:PreferredStockMember
2022-11-30
0001718500
us-gaap:CommonStockMember
2022-11-30
0001718500
us-gaap:AdditionalPaidInCapitalMember
2022-11-30
0001718500
us-gaap:RetainedEarningsMember
2022-11-30
0001718500
2022-11-30
0001718500
us-gaap:PreferredStockMember
2023-06-01
2024-02-29
0001718500
us-gaap:CommonStockMember
2023-06-01
2024-02-29
0001718500
us-gaap:AdditionalPaidInCapitalMember
2023-06-01
2024-02-29
0001718500
us-gaap:RetainedEarningsMember
2023-06-01
2024-02-29
0001718500
us-gaap:PreferredStockMember
2023-12-01
2024-02-29
0001718500
us-gaap:CommonStockMember
2023-12-01
2024-02-29
0001718500
us-gaap:AdditionalPaidInCapitalMember
2023-12-01
2024-02-29
0001718500
us-gaap:RetainedEarningsMember
2023-12-01
2024-02-29
0001718500
us-gaap:PreferredStockMember
2022-06-01
2023-02-28
0001718500
us-gaap:CommonStockMember
2022-06-01
2023-02-28
0001718500
us-gaap:AdditionalPaidInCapitalMember
2022-06-01
2023-02-28
0001718500
us-gaap:RetainedEarningsMember
2022-06-01
2023-02-28
0001718500
us-gaap:PreferredStockMember
2022-12-01
2023-02-28
0001718500
us-gaap:CommonStockMember
2022-12-01
2023-02-28
0001718500
us-gaap:AdditionalPaidInCapitalMember
2022-12-01
2023-02-28
0001718500
us-gaap:RetainedEarningsMember
2022-12-01
2023-02-28
0001718500
us-gaap:PreferredStockMember
2024-02-29
0001718500
us-gaap:CommonStockMember
2024-02-29
0001718500
us-gaap:AdditionalPaidInCapitalMember
2024-02-29
0001718500
us-gaap:RetainedEarningsMember
2024-02-29
0001718500
us-gaap:PreferredStockMember
2023-02-28
0001718500
us-gaap:CommonStockMember
2023-02-28
0001718500
us-gaap:AdditionalPaidInCapitalMember
2023-02-28
0001718500
us-gaap:RetainedEarningsMember
2023-02-28
0001718500
2023-02-28
0001718500
axil:AxilMember
2023-12-01
2024-02-29
0001718500
axil:CustomerMember
2023-12-01
2024-02-29
0001718500
axil:CustomerMember
2022-12-01
2023-02-28
0001718500
axil:CustomerMember
2023-06-01
2024-02-29
0001718500
axil:CustomerMember
2022-06-01
2023-02-28
0001718500
us-gaap:FurnitureAndFixturesMember
2024-02-29
0001718500
us-gaap:FurnitureAndFixturesMember
2023-05-31
0001718500
us-gaap:ComputerEquipmentMember
2024-02-29
0001718500
us-gaap:ComputerEquipmentMember
2023-05-31
0001718500
srt:MinimumMember
us-gaap:PropertyPlantAndEquipmentMember
2024-02-29
0001718500
srt:MaximumMember
us-gaap:PropertyPlantAndEquipmentMember
2024-02-29
0001718500
us-gaap:PropertyPlantAndEquipmentMember
2024-02-29
0001718500
us-gaap:PropertyPlantAndEquipmentMember
2023-05-31
0001718500
us-gaap:AutomobilesMember
2024-02-29
0001718500
us-gaap:AutomobilesMember
2023-05-31
0001718500
axil:TractorTrailerMember
2024-02-29
0001718500
axil:TractorTrailerMember
2023-02-28
0001718500
axil:LicensingRightsMember
2024-02-29
0001718500
axil:LicensingRightsMember
2023-05-31
0001718500
us-gaap:CustomerRelationshipsMember
2024-02-29
0001718500
us-gaap:CustomerRelationshipsMember
2023-05-31
0001718500
us-gaap:TradeNamesMember
2024-02-29
0001718500
us-gaap:TradeNamesMember
2023-05-31
0001718500
axil:WebsiteMember
2024-02-29
0001718500
axil:WebsiteMember
2023-05-31
0001718500
axil:EconomicInjuryDisasterLoanProgramMember
2020-05-31
0001718500
axil:EconomicInjuryDisasterLoanProgramMember
2020-05-01
2020-05-18
0001718500
axil:EconomicInjuryDisasterLoanProgramMember
2021-06-01
2022-05-31
0001718500
axil:EconomicInjuryDisasterLoanProgramMember
2024-02-29
0001718500
axil:EconomicInjuryDisasterLoanProgramMember
2023-05-31
0001718500
axil:InsuranceFinancingMember
2024-02-29
0001718500
axil:InsuranceFinancingMember
2023-05-31
0001718500
axil:FinancingChargesMember
2024-02-29
0001718500
axil:FinancingChargesMember
2023-05-31
0001718500
axil:EconomicInjuryDisasterLoanProgramMember
2024-02-29
0001718500
axil:EconomicInjuryDisasterLoanProgramMember
2023-05-31
0001718500
axil:NonVotingSeriesAPreferredStockMember
2022-06-01
2023-05-31
0001718500
2022-05-10
0001718500
2022-11-01
0001718500
2023-01-01
2023-01-29
0001718500
2023-04-01
2023-04-30
0001718500
axil:ThreeBoardMembersMember
2024-02-01
2024-02-14
0001718500
srt:DirectorMember
2024-02-01
2024-02-14
0001718500
2022-06-01
2023-05-31
0001718500
2023-09-01
2023-09-22
0001718500
2023-06-01
2023-11-30
0001718500
axil:JeffBrownMember
srt:ChiefOperatingOfficerMember
2024-02-29
0001718500
axil:IntrepidMember
2023-06-01
2024-02-29
0001718500
axil:IntrepidMember
2024-02-29
0001718500
axil:IntrepidMember
2023-05-31
0001718500
axil:WestonT.HarrisMember
2023-06-01
2024-02-29
0001718500
axil:WestonT.HarrisMember
2023-12-01
2024-02-29
0001718500
axil:AxilMember
2022-06-16
0001718500
axil:JeffToghraieMember
2022-06-16
0001718500
us-gaap:CommonStockMember
2022-06-01
2022-06-16
0001718500
us-gaap:PreferredStockMember
2022-06-01
2022-06-16
0001718500
2022-06-01
2022-06-16
0001718500
2022-06-16
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:OneCustomerMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:OneCustomerMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:TwoCustomerMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:FirstCustomerMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:SecondCustomerMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:OneCustomerMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:CA
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:US
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:CA
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:IT
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:CA
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:US
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:CA
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:IT
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairShampooMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairConditionerMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:BundledKitsMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairTreatmentProductMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairShampooMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairConditionerMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:BundledKitsMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:OtherHairTreatmentProductsMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairShampooMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairConditionerMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:BundledKitsMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairTreatmentProductMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairShampooMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:HairConditionerMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:BundledKitsMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:OtherHairTreatmentProductsMember
2022-06-01
2023-02-28
0001718500
us-gaap:AccountsReceivableMember
us-gaap:CustomerConcentrationRiskMember
axil:CustomerMember
2023-06-01
2024-02-29
0001718500
us-gaap:AccountsReceivableMember
us-gaap:CustomerConcentrationRiskMember
axil:OneCustomerMember
2023-06-01
2024-02-29
0001718500
us-gaap:AccountsReceivableMember
us-gaap:CustomerConcentrationRiskMember
axil:CustomerOneMember
2022-06-01
2023-05-31
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
2023-12-01
2024-02-29
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
2022-12-01
2023-02-28
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
2022-06-01
2023-05-31
0001718500
us-gaap:ProductConcentrationRiskMember
axil:PurchasesMember
axil:VendorsMember
2022-06-01
2023-05-31
0001718500
us-gaap:ProductConcentrationRiskMember
axil:PurchasesMember
axil:VendorOneMember
2022-06-01
2023-05-31
0001718500
us-gaap:ProductConcentrationRiskMember
axil:PurchasesMember
axil:VendorTwoMember
2022-06-01
2023-05-31
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
axil:VendorThreeMember
2022-06-01
2023-05-31
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
2023-06-01
2024-02-29
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:AxilMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:AxilMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:AxilMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:CustomerConcentrationRiskMember
axil:AxilMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
axil:OutsideTheUnitedStatesMember
axil:AxilMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
axil:OutsideTheUnitedStatesMember
axil:AxilMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:CA
axil:AxilMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
axil:OutsideTheUnitedStatesMember
axil:AxilMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:CA
axil:AxilMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
axil:OutsideTheUnitedStatesMember
axil:AxilMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
country:CA
axil:AxilMember
2022-06-01
2023-02-28
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
axil:VendorMember
2023-12-01
2024-02-29
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
axil:VendorMember
2023-06-01
2024-02-29
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
axil:VendorMember
2022-06-01
2023-05-31
0001718500
axil:PurchasesMember
us-gaap:ProductConcentrationRiskMember
axil:TwoVendorMember
2022-06-01
2023-05-31
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:EarBudsMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:GhostStrykeMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:TrackrHeadmuffMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:EarBudsMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:GhostStrykeMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:TrackrEarmuffsMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:EarBudsMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:GhostStrykeMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:TrackrHeadmuffMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:EarBudsMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AxilMember
axil:GhostStrykeMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:ShampooMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:ShampooMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:ShampoosAndConditionersMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:ShampoosAndConditionersMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:ConditionerMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:ConditionerMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:BundledKitMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:BundledKitMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AncillaryProductsMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AncillaryProductsMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
us-gaap:ProductMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
us-gaap:ProductMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:GhostStrykeMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:GhostStrykeMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:TrackrEarmuffsMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:TrackrEarmuffsMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:OtherBluetoothAndEarBudsMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:OtherBluetoothAndEarBudsMember
2022-06-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AccessoriesOtherMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:ProductConcentrationRiskMember
axil:AccessoriesOtherMember
2022-06-01
2023-02-28
0001718500
axil:HairCareAndSkinCareMember
2023-12-01
2024-02-29
0001718500
axil:HairCareAndSkinCareMember
2022-12-01
2023-02-28
0001718500
axil:HairCareAndSkinCareMember
2023-06-01
2024-02-29
0001718500
axil:HairCareAndSkinCareMember
2022-06-01
2023-02-28
0001718500
axil:HearingEnhancementAndProtectionMember
2023-12-01
2024-02-29
0001718500
axil:HearingEnhancementAndProtectionMember
2022-12-01
2023-02-28
0001718500
axil:HearingEnhancementAndProtectionMember
2023-06-01
2024-02-29
0001718500
axil:HearingEnhancementAndProtectionMember
2022-06-01
2023-02-28
0001718500
axil:HairCareAndSkinCareMember
2024-02-29
0001718500
axil:HairCareAndSkinCareMember
2023-02-28
0001718500
axil:HearingEnhancementAndProtectionMember
2024-02-29
0001718500
axil:HearingEnhancementAndProtectionMember
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
axil:CustomersMember
2023-12-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
axil:CustomersMember
2022-12-01
2023-02-28
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
axil:CustomersMember
2023-06-01
2024-02-29
0001718500
us-gaap:SalesRevenueNetMember
us-gaap:GeographicConcentrationRiskMember
axil:CustomersMember
2022-06-01
2023-02-28
0001718500
us-gaap:SubsequentEventMember
us-gaap:SeriesAPreferredStockMember
2024-03-01
2024-03-05
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
xbrli:pure
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
☒ QUARTERLY
REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended February 29, 2024
OR
☐ TRANSITION
REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____________ to _____________
Commission File Number: 001-41958
AXIL Brands, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware |
|
47-4125218 |
(State or Other Jurisdiction of
Incorporation or Organization) |
|
(I.R.S. Employer
Identification No.) |
|
|
|
901 Fremont Avenue, Unit 158, Alhambra, CA |
|
91803 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
(888) 638-8883
(Registrant’s Telephone Number, Including Area
Code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading symbol(s) |
|
Name of each exchange on which registered |
Common Stock, $0.0001 par value per share |
|
AXIL |
|
The NYSE American LLC |
Indicate by check mark whether the registrant: (1)
has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has
submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of
this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a
large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See
the definitions of “large accelerated filer,” accelerated filer,” “smaller reporting company,” and “emerging
growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer |
☐ |
Accelerated filer |
☐ |
Non-accelerated filer |
☒ |
Smaller reporting company |
☒ |
|
|
Emerging growth company |
☐ |
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a
shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of April 9, 2024, there were 5,878,939 shares of
the registrant’s common stock, $0.0001 par value, outstanding.
AXIL BRANDS, INC. AND SUBSIDIARY
INDEX
|
|
|
Page |
Cautionary Note Regarding Forward Looking Statements |
|
ii |
|
|
|
PART I - FINANCIAL INFORMATION |
|
|
|
|
|
|
Item 1. |
Financial Statements (Unaudited) |
|
1 |
|
|
|
|
Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|
2 |
|
|
|
|
Item 3. |
Quantitative and Qualitative Disclosures About Market Risk |
|
7 |
|
|
|
|
Item 4. |
Controls and Procedures |
|
7 |
|
|
|
|
PART II - OTHER INFORMATION |
|
|
|
|
|
|
Item 1. |
Legal Proceedings |
|
8 |
|
|
|
|
Item 1A. |
Risk Factors |
|
8 |
|
|
|
|
Item 2. |
Unregistered Sales of Equity Securities and Use of Proceeds |
|
8 |
|
|
|
|
Item 3. |
Defaults Upon Senior Securities |
|
8 |
|
|
|
|
Item 4. |
Mine Safety Disclosures |
|
8 |
|
|
|
|
Item 5. |
Other Information |
|
8 |
|
|
|
|
Item 6. |
Exhibits |
|
9 |
|
|
|
|
Signatures |
|
10 |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q, and in
particular Part I, Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations,”
contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”). These forward-looking statements represent our expectations, beliefs, intentions or strategies concerning future
events, including, but not limited to, any statements regarding our assumptions about financial performance; the continuation of
historical trends; the sufficiency of our cash balances for future liquidity and capital resource needs; the expected impact of
changes in accounting policies on our results of operations, financial condition or cash flows; anticipated problems and our plans
for future operations; and the economy in general or the future of the beauty and hair care industry and the hearing protection and
ear bud business, all of which are subject to various risks and uncertainties.
There are a number of factors that could cause our actual results to differ from those indicated
in the forward-looking statements, many of which are outside of our control. They include: the impact of unstable market and general economic
conditions on our business, financial condition and stock price, including inflationary cost pressures, interest rate increases, decreased
discretionary consumer spending, supply chain disruptions and constraints, labor shortages, ongoing economic disruption, the possibility
of an economic recession and other macroeconomic factors, geopolitical events and uncertainty, including the effects of the Ukraine-Russia
conflict, the effects of the Israel-Hamas conflict, and other downturns in the business cycle or the economy; our financial performance
and liquidity, including our ability to successfully generate sufficient revenue to support our operations; our ability to repay our outstanding
loans, if any; risks related to our operations and international markets, such as fluctuations in currency exchange rates, different regulatory
environments, trade barriers and sanctions, exchange controls, and social and political instability; changes in the regulatory environment
in which we operate, including environmental, health and safety regulations, including those related to climate change; our ability to
protect and defend our intellectual property; continuity and security of information technology infrastructure and the potential impact
of cybersecurity breaches or disruptions to our management information systems; competition; our ability to retain our management and
employees and the potential impact of ongoing labor shortages; demands on management resources; availability and cost of the raw materials
we use to manufacture our products, including the impacts of inflationary cost pressures and ongoing supply chain disruptions and constraints,
which have been, and may continue to be, exacerbated by the Russia-Ukraine conflict and the Israel-Hamas conflict; additional tax expenses
or exposures; product liability claims; the potential outcome of any legal or regulatory proceedings; including ongoing litigation, the disposition of which may have an
adverse effect upon our business, financial condition, or results of operations; integrating acquisitions and achieving
the expected savings and synergies, including our recent acquisition of hearing protection and ear bud businesses; global or regional
catastrophic events, including the effects of natural disasters, which may be worsened by the impact of climate change; effectiveness
of our marketing strategy, demand for and market acceptance of our products, as well as our ability to successfully anticipate consumer
trends; business divestitures; labor relations; the potential impact of environmental, social and governance matters; implementation of
environmental remediation matters; our ability to remediate the material weaknesses in our internal control over financial reporting;
our ability to maintain stock exchange listing; and the risk that the increase in the stock price following the recent reverse stock split
will not be maintained or that the reverse stock split will not otherwise have its intended effect.
When used in this Quarterly
Report on Form 10-Q and other reports, statements, and information we have filed with the Securities and Exchange Commission (the “SEC”),
in our press releases, presentations to securities analysts or investors, in oral statements made by or with the approval of an executive
officer, the words or phrases “believes,” “may,” “can,” “will,” “expect,”
“should,” “could,” “would,” “continue,” “anticipate,” “intend,”
“likely,” “estimate,” “project,” “plan,” “design,” “potential,”
“focus” or similar expressions and variations thereof are intended to identify such forward-looking statements. However, any
statements contained in this Quarterly Report on Form 10-Q that are not statements of historical fact may be deemed to be forward-looking
statements. Furthermore, such forward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q. We caution that
these statements by their nature involve risks and uncertainties, certain of which are beyond our control, and actual results may differ
materially depending on a variety of important factors. These forward-looking statements are not guarantees of our future performance
and involve risks, uncertainties, estimates and assumptions that are difficult to predict.
We do not assume the obligation to update any forward-looking statement, except as required
by applicable law. You should carefully evaluate such statements in light of factors described in this Quarterly Report on Form 10-Q.
In this Quarterly Report on Form 10-Q, AXIL Brands, Inc. (“AXIL Brands, Inc.,” “AXIL Brands,” the “Company,”
“we,” “us,” and “our”) has identified material factors that could cause actual results to differ from
expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you
should not consider any such list to be a complete list of all potential risks or uncertainties.
AXIL BRANDS, INC. AND SUBSIDIARY
INDEX TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
FEBRUARY 29, 2024
PART 1 – FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Financial Statements: |
|
|
|
Consolidated Balance Sheets - As of February 29, 2024 (Unaudited) and May 31, 2023 |
F-1 |
|
|
Consolidated Statements of Operations - For the three and nine months ended February 29, 2024 and February 28, 2023 (Unaudited) |
F-2 |
|
|
Consolidated Statements of Changes in Stockholders’ Equity - For the three and nine months ended February 29, 2024 and February 28, 2023 (Unaudited) |
F-3 |
|
|
Consolidated Statements of Cash Flows – For the nine months ended February 29, 2024 and February 28, 2023 (Unaudited) |
F-4 |
|
|
Condensed Notes to Unaudited Consolidated Financial Statements |
F-5 |
AXIL BRANDS, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
| |
| | | |
| | |
| |
February 29, 2024 | |
May 31, 2023 |
| |
(Unaudited) | |
|
| |
| |
|
ASSETS | |
| | | |
| | |
CURRENT ASSETS: | |
| | | |
| | |
Cash | |
$ | 4,887,567 | | |
$ | 4,832,682 | |
Accounts receivable, net | |
| 719,504 | | |
| 417,016 | |
Inventory, net | |
| 3,443,293 | | |
| 1,311,864 | |
Due from related party | |
| 18,536 | | |
| — | |
Prepaid expenses and other current assets | |
| 656,328 | | |
| 801,360 | |
Deferred tax asset | |
| 234,161 | | |
| — | |
| |
| | | |
| | |
Total Current Assets | |
| 9,959,389 | | |
| 7,362,922 | |
| |
| | | |
| | |
OTHER ASSETS: | |
| | | |
| | |
Property and equipment, net | |
| 212,146 | | |
| 157,463 | |
Intangible assets, net | |
| 324,549 | | |
| 382,674 | |
Right of use asset | |
| 53,224 | | |
| 101,845 | |
Other assets | |
| 12,195 | | |
| 12,195 | |
Goodwill | |
| 2,152,215 | | |
| 2,152,215 | |
| |
| | | |
| | |
Total Other Assets | |
| 2,754,329 | | |
| 2,806,392 | |
| |
| | | |
| | |
TOTAL ASSETS | |
$ | 12,713,718 | | |
$ | 10,169,314 | |
| |
| | | |
| | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |
| | | |
| | |
| |
| | | |
| | |
CURRENT LIABILITIES: | |
| | | |
| | |
Accounts payable | |
$ | 1,890,844 | | |
$ | 908,606 | |
Customer deposits | |
| 37,140 | | |
| 183,688 | |
Equipment payable, current | |
| — | | |
| 2,200 | |
Contract liabilities, current | |
| 880,450 | | |
| 827,106 | |
Notes payable, current | |
| 3,310 | | |
| 172,588 | |
Due to related party | |
| — | | |
| 158,072 | |
Lease Liability, current | |
| 54,322 | | |
| 65,824 | |
Income Tax Liability | |
| 68,019 | | |
| 230,913 | |
Other current liabilities | |
| 307,794 | | |
| 305,664 | |
| |
| | | |
| | |
Total Current Liabilities | |
| 3,241,879 | | |
| 2,854,661 | |
| |
| | | |
| | |
LONG TERM LIABILITIES: | |
| | | |
| | |
Notes payable, long term | |
| 143,840 | | |
| — | |
Lease liability, long term | |
| — | | |
| 36,752 | |
Contract liabilities, long term | |
| 541,108 | | |
| 605,942 | |
| |
| | | |
| | |
Total Long Term Liabilities | |
| 684,948 | | |
| 642,694 | |
| |
| | | |
| | |
Total Liabilities | |
| 3,926,827 | | |
| 3,497,355 | |
| |
| | | |
| | |
Commitments and contingencies (see Note 11) | |
| — | | |
| — | |
| |
| | | |
| | |
STOCKHOLDERS' EQUITY: | |
| | | |
| | |
Preferred stock, $0.0001 par value; 300,000,000 shares authorized; 250,000,000 shares issued and outstanding as of February 29, 2024 and May 31, 2023, respectively | |
| 25,000 | | |
| 25,000 | |
Common stock, $0.0001 par value: 450,000,000 shares authorized; 5,878,939 and 5,863,939 shares issued, and outstanding as of February 29, 2024 and May 31, 2023, respectively | |
| 588 | | |
| 586 | |
Additional paid-in capital | |
| 10,274,677 | | |
| 10,113,365 | |
Accumulated deficit | |
| (1,513,374 | ) | |
| (3,466,992 | ) |
| |
| | | |
| | |
Total Stockholders' Equity | |
| 8,786,891 | | |
| 6,671,959 | |
| |
| | | |
| | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | |
$ | 12,713,718 | | |
$ | 10,169,314 | |
See accompanying condensed notes to these unaudited
consolidated financial statements.
AXIL BRANDS, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
| |
| | | |
| | | |
| | | |
| | |
| |
For the Three Months Ended | |
For the Nine Months Ended |
| |
February 29, | |
February 28, | |
February 29, | |
February 28, |
| |
2024 | |
2023 | |
2024 | |
2023 |
| |
| |
| |
| |
|
Sales, net | |
$ | 6,469,343 | | |
$ | 5,656,461 | | |
$ | 20,997,289 | | |
$ | 16,625,818 | |
| |
| | | |
| | | |
| | | |
| | |
Cost of sales | |
| 1,845,017 | | |
| 1,437,976 | | |
| 5,467,458 | | |
| 4,085,645 | |
| |
| | | |
| 25 | % | |
| 26 | % | |
| 25 | % |
Gross profit | |
| 4,624,326 | | |
| 4,218,485 | | |
| 15,529,831 | | |
| 12,540,173 | |
| |
| | | |
| 75 | % | |
| 74.0 | % | |
| 75 | % |
OPERATING EXPENSES: | |
| | | |
| | | |
| | | |
| | |
Sales and marketing | |
| 3,398,949 | | |
| 3,173,383 | | |
| 10,278,570 | | |
| 8,250,257 | |
Compensation and related taxes | |
| 228,869 | | |
| 360,802 | | |
| 713,504 | | |
| 1,214,213 | |
Professional and consulting | |
| 552,922 | | |
| 216,687 | | |
| 1,471,025 | | |
| 832,958 | |
General and administrative | |
| 547,465 | | |
| 251,025 | | |
| 1,732,942 | | |
| 841,761 | |
| |
| | | |
| | | |
| | | |
| | |
Total Operating Expenses | |
| 4,728,205 | | |
| 4,001,897 | | |
| 14,196,041 | | |
| 11,139,189 | |
| |
| | | |
| 71 | % | |
| 68 | % | |
| 67 | % |
(LOSS) INCOME FROM OPERATIONS | |
| (103,879 | ) | |
| 216,588 | | |
| 1,333,790 | | |
| 1,400,984 | |
| |
| | | |
| | | |
| | | |
| | |
OTHER INCOME (EXPENSE): | |
| | | |
| | | |
| | | |
| | |
Gain on debt settlement | |
| — | | |
| — | | |
| 79,182 | | |
| 50,500 | |
Other income | |
| 6,114 | | |
| — | | |
| 19,138 | | |
| — | |
Interest income | |
| 52,915 | | |
| 6,721 | | |
| 129,233 | | |
| 13,262 | |
Interest expense and other finance charges | |
| (1,495 | ) | |
| (1,714 | ) | |
| (4,779 | ) | |
| (4,927 | ) |
| |
| | | |
| | | |
| | | |
| | |
Other Income, Net | |
| 57,534 | | |
| 5,007 | | |
| 222,774 | | |
| 58,835 | |
| |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | |
(Benefit) Provision for income taxes | |
| (827,436 | ) | |
| 59,547 | | |
| (397,054 | ) | |
| 395,344 | |
| |
| | | |
| | | |
| | | |
| | |
NET INCOME | |
$ | 781,091 | | |
$ | 162,048 | | |
$ | 1,953,618 | | |
$ | 1,064,475 | |
| |
| | | |
| | | |
| | | |
| | |
NET INCOME PER COMMON SHARE: | |
| | | |
| | | |
| | | |
| | |
Basic | |
$ | 0.13 | | |
$ | 0.03 | | |
$ | 0.33 | | |
$ | 0.19 | |
Diluted | |
$ | 0.04 | | |
$ | 0.01 | | |
$ | 0.11 | | |
$ | 0.06 | |
| |
| | | |
| | | |
| | | |
| | |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |
| | | |
| | | |
| | | |
| | |
Basic | |
| 5,863,939 | | |
| 5,849,501 | | |
| 5,863,939 | | |
| 5,574,312 | |
Diluted | |
| 18,576,914 | | |
| 18,629,501 | | |
| 18,569,140 | | |
| 17,497,737 | |
See accompanying condensed notes to these unaudited
consolidated financial statements.
AXIL BRANDS, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’
EQUITY
(UNAUDITED)
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
For the nine months ended February 29, 2024 |
| |
| |
Common Stock | |
Additional | |
| |
Total |
| |
Preferred Stock | |
Issued/Issuable | |
Paid-in | |
Accumulated | |
Stockholders' |
| |
Shares | |
Amount | |
Shares | |
Amount | |
Capital | |
Deficit | |
Equity |
Balance, May 31, 2023 | |
| 250,000,000 | | |
$ | 25,000 | | |
| 5,863,939 | | |
$ | 586 | | |
$ | 10,113,365 | | |
$ | (3,466,992 | ) | |
$ | 6,671,959 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Stock options expense | |
| — | | |
| — | | |
| — | | |
| — | | |
| 153,320 | | |
| — | | |
| 153,320 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Restricted stock awards | |
| — | | |
| — | | |
| 15,000 | | |
| 2 | | |
| 7,992 | | |
| — | | |
| 7,994 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net income | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 1,953,618 | | |
| 1,953,618 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, February 29, 2024 | |
| 250,000,000 | | |
$ | 25,000 | | |
| 5,878,939 | | |
$ | 588 | | |
$ | 10,274,677 | | |
$ | (1,513,374 | ) | |
$ | 8,786,891 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
For the three months ended February 29, 2024 | |
| |
| |
Common Stock | |
Additional | |
| |
Total |
| |
Preferred Stock | |
Issued/Issuable | |
Paid-in | |
Accumulated | |
Stockholders' |
| |
Shares | |
Amount | |
Shares | |
Amount | |
Capital | |
Deficit | |
Equity |
Balance, November 30, 2023 | |
| 250,000,000 | | |
$ | 25,000 | | |
| 5,863,939 | | |
$ | 586 | | |
$ | 10,215,580 | | |
$ | (2,294,465 | ) | |
$ | 7,946,701 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Stock options expense | |
| — | | |
| — | | |
| — | | |
| — | | |
| 51,105 | | |
| — | | |
| 51,105 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Restricted stock awards | |
| — | | |
| — | | |
| 15,000 | | |
| 2 | | |
| 7,992 | | |
| — | | |
| 7,994 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net income | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 781,091 | | |
| 781,091 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, February 29, 2024 | |
| 250,000,000 | | |
$ | 25,000 | | |
| 5,878,939 | | |
$ | 588 | | |
$ | 10,274,677 | | |
$ | (1,513,374 | ) | |
$ | 8,786,891 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
For the nine months ended February 28, 2023 | | |
| |
| |
Common Stock | |
Additional | |
| |
Total |
| |
Preferred Stock | |
Issued/Issuable | |
Paid-in | |
Accumulated | |
Stockholders' |
| |
Shares | |
Amount | |
Shares | |
Amount | |
Capital | |
Deficit | |
Equity |
Balance, May 31, 2022 | |
| — | | |
$ | — | | |
| 2,107,385 | | |
$ | 211 | | |
$ | 5,476,068 | | |
$ | (5,291,567 | ) | |
$ | 184,712 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Shares issued for acquisition of business | |
| 250,000,000 | | |
| 25,000 | | |
| 3,659,195 | | |
| 366 | | |
| 3,982,115 | | |
| — | | |
| 4,007,481 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Stock options expense | |
| — | | |
| — | | |
| — | | |
| — | | |
| 155,067 | | |
| — | | |
| 155,067 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Shares to be issued for cash | |
| — | | |
| — | | |
| 97,359 | | |
| 9 | | |
| 447,840 | | |
| — | | |
| 447,849 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net income | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 1,064,475 | | |
| 1,064,475 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, February 28, 2023 | |
| 250,000,000 | | |
$ | 25,000 | | |
| 5,863,939 | | |
$ | 586 | | |
$ | 10,061,090 | | |
$ | (4,227,092 | ) | |
$ | 5,859,584 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
For the three months ended February 28, 2023 | | |
| |
| |
Common Stock | |
Additional | |
| |
Total |
| |
Preferred Stock | |
Issued/Issuable | |
Paid-in | |
Accumulated | |
Stockholders' |
| |
Shares | |
Amount | |
Shares | |
Amount | |
Capital | |
Deficit | |
Equity |
Balance, November 30, 2022 | |
| 250,000,000 | | |
$ | 25,000 | | |
| 5,837,899 | | |
$ | 583 | | |
$ | 9,910,371 | | |
$ | (4,389,140 | ) | |
$ | 5,546,814 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Stock options expense | |
| — | | |
| — | | |
| — | | |
| — | | |
| 30,922 | | |
| — | | |
| 30,922 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Shares to be issued for cash | |
| — | | |
| — | | |
| 26,040 | | |
| 3 | | |
| 119,797 | | |
| — | | |
| 119,800 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net income | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 162,048 | | |
| 162,048 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, February 28, 2023 | |
| 250,000,000 | | |
$ | 25,000 | | |
| 5,863,939 | | |
$ | 586 | | |
$ | 10,061,090 | | |
$ | (4,227,092 | ) | |
$ | 5,859,584 | |
See accompanying condensed notes to these unaudited
consolidated financial statements.
AXIL BRANDS, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
| |
| | | |
| | |
| |
For the Nine Months Ended |
| |
February 29, | |
February 28, |
| |
2024 | |
2023 |
| |
| |
|
CASH FLOWS FROM OPERATING ACTIVITIES | |
| | | |
| | |
Net income | |
$ | 1,953,618 | | |
$ | 1,064,475 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |
| | | |
| | |
Depreciation and amortization | |
| 83,634 | | |
| 66,944 | |
Bad debts | |
| 143,395 | | |
| 13,782 | |
Stock based compensation | |
| 161,314 | | |
| 155,067 | |
Gain on settlement | |
| (79,182 | ) | |
| (50,500 | ) |
Provision (benefit) for deferred income taxes | |
| (397,054 | ) | |
| — | |
Change in operating assets and liabilities: | |
| | | |
| | |
Accounts receivable | |
| (445,883 | ) | |
| (134,622 | ) |
Inventory | |
| (2,131,429 | ) | |
| 297,213 | |
Prepaid expenses and other current assets | |
| 145,032 | | |
| (296,787 | ) |
Deposits | |
| — | | |
| (3,810 | ) |
Accounts payable and accrued expenses | |
| 1,061,420 | | |
| 87,879 | |
Other current liabilities | |
| (144,052 | ) | |
| 860,973 | |
Contract liabilities | |
| (11,490 | ) | |
| 259,362 | |
| |
| | | |
| | |
NET CASH PROVIDED BY OPERATING ACTIVITIES | |
| 339,323 | | |
| 2,319,976 | |
| |
| | | |
| | |
CASH FLOWS FROM INVESTING ACTIVITIES | |
| | | |
| | |
Cash acquired on business acquisition | |
| — | | |
| 1,066,414 | |
Purchases of property and equipment | |
| (80,192 | ) | |
| (65,650 | ) |
| |
| | | |
| | |
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES | |
| (80,192 | ) | |
| 1,000,764 | |
| |
| | | |
| | |
CASH FLOWS FROM FINANCING ACTIVITIES | |
| | | |
| | |
Cash raised for common stock to be issued | |
| — | | |
| 447,850 | |
Repayment of equipment financing | |
| (2,200 | ) | |
| (2,200 | ) |
Repayment of note payable | |
| (25,438 | ) | |
| (22,797 | ) |
Advances (repayments) to/from a related party | |
| (176,608 | ) | |
| 63,008 | |
| |
| | | |
| | |
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | |
| (204,246 | ) | |
| 485,861 | |
| |
| | | |
| | |
NET INCREASE IN CASH | |
| 54,885 | | |
| 3,806,601 | |
| |
| | | |
| | |
CASH - Beginning of period | |
| 4,832,682 | | |
| 373,731 | |
| |
| | | |
| | |
CASH - End of period | |
$ | 4,887,567 | | |
$ | 4,180,332 | |
| |
| | | |
| | |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |
| | | |
| | |
Cash paid during the period for: | |
| | | |
| | |
Interest | |
$ | 4,681 | | |
$ | 3,173 | |
Income taxes | |
$ | — | | |
$ | — | |
| |
| | | |
| | |
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | |
| | | |
| | |
Stock issued for asset purchase agreement | |
$ | — | | |
$ | 4,007,480 | |
Right of use assets recognized as lease liability | |
$ | — | | |
$ | 131,970 | |
Tangible assets (excluding cash) acquired in business combination | |
$ | — | | |
$ | 1,740,729 | |
Intangible assets acquired in business combination | |
$ | — | | |
$ | 456,945 | |
Goodwill acquired in business combination | |
$ | — | | |
$ | 2,152,215 | |
Liabilities assumed in business combination | |
$ | — | | |
$ | 1,408,823 | |
See accompanying condensed notes to these unaudited
consolidated financial statements.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 1 – Organization
As part of the Company’s ongoing rebranding efforts, the Company changed its name
from Reviv3 Procare Company (“Reviv3”) to AXIL Brands, Inc. effective February 14, 2024. Reviv3 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 has moved its
corporate headquarters to 901 Fremont Avenue, Unit 158, Alhambra, California 91803. In March 2022, the Company incorporated a subsidiary
“Reviv3 Acquisition Corporation” and in June 2022, completed the asset acquisition of the Axil & Associated Brand Corp.
(“Axil & Associated Brands”) business. The Company is now engaged in the manufacturing, marketing, sale and distribution
of high-tech hearing and audio innovations that provide cutting edge solutions for consumers, with varied applications across many industries;
as well as professional quality hair and skin care products. These product lines are both sold throughout the United States, Canada, Europe
and Asia. On February 14, 2024, the Company successfully completed efforts to uplist from the over-the-counter, or OTC, markets to the
NYSE American exchange (“NYSE American”).
Note 2 – Basis of
Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation
The accompanying unaudited consolidated financial statements have been
prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion
of the management, all adjustments necessary to present fairly our financial position, results of operations, and cash flows as of February
29, 2024, and February 28, 2023, 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 consolidated financial statements prepared in accordance with
generally accepted accounting principles have been omitted. The unaudited consolidated financial statements should be read in conjunction
with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended
May 31, 2023. The results of operations for the three and nine months ended February 29, 2024 are not necessarily indicative of the results
to be expected for the fiscal year ending 2024. The unaudited consolidated financial statements include the Company and its wholly owned
subsidiary. All significant intercompany balances and transactions have been eliminated upon consolidation.
Reverse Stock Split
Effective as of January 16, 2024, the Company filed a Certificate of
Amendment to the Company’s Amended and Restated Articles of Incorporation with the Delaware Secretary of State to implement a reverse
stock split (the “Reverse Stock Split”) of the Company’s issued shares of common stock at a ratio of 1-for-20 approved
by the Company’s Board of Directors (the “Board”). The Reverse Stock Split does not affect the total number of shares
of common stock that the Company is authorized to issue and any fractional shares remaining after the Reverse Stock Split were rounded
up to the nearest whole share. The accompanying financial statements and notes to the financial statements give retroactive effect to
the Reverse Stock Split for all periods presented, unless otherwise specified.
Reclassifications
Certain amounts presented
for the three and nine months ended February 28, 2023, reflect reclassifications made to conform to the presentation
in our current reporting period. These reclassifications had no effect on the previously reported net income. Approximately $12,000 was reclassified from Professional and consulting
expenses to Compensation and related taxes for the three months ended February 28, 2023, and approximately $76,000 was reclassified from
Professional and consulting expenses to Compensation and related taxes for the nine months ended February 28, 2023. The reclassification
had no effect on previously presented total operating expenses.
Liquidity and Capital Resources
We are currently engaged in product sales and development. Although we earned net income
and have cash provided by operations for the nine months ended February 29, 2024, we had an accumulated deficit of $1,513,374 as of February
29, 2024 and have incurred operating losses and cash used in operations in the past. We currently expect to earn net income and positive
cash flows from operations during the current fiscal year ending May 31, 2024. We believe our current cash balances, coupled with anticipated
cash flow from operating activities, will be sufficient to meet our working capital requirements for at least one year from the date of
issuance of the accompanying unaudited consolidated financial statements. We intend to continue to control our cash expenses as a percentage
of expected revenue on an annual basis and thus may use our cash balances in the short-term to invest in revenue growth. As a result of
the acquisition of the Axil & Associated Brands’ business, we have generated and expect we will continue to generate sufficient
cash for our operational needs, including any required debt payments, for at least one year from the date of issuance of the accompanying
unaudited consolidated financial statements. Management is focused on growing the Company’s existing products, introducing new products,
as well as expanding 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, including those resulting from the purchase of the Axil & Associated Brands’ assets in June 2022, may lead to cash
utilization at levels greater than recently experienced. The Company cannot provide any assurance that it will be able to raise additional
capital or obtain necessary financing 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 unaudited
consolidated financial statements.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 2 – Basis of Presentation and Summary
of Significant Accounting Policies (continued)
Use of estimates
The preparation of the unaudited consolidated financial
statements in conformity with accounting principles generally accepted in the United States (“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,
contract liability, allowance on sales returns, valuation of lease liabilities and related right of use assets, fair value of securities
issued for business combinations, fair value of assets acquired and liabilities assumed in business combinations 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. (See Note
14)
Accounts receivable and allowance for doubtful
accounts
On June 1, 2023, the Company adopted ASC 326, "Financial Instruments
- Credit Losses". In accordance with ASC 326, an allowance is maintained for estimated forward-looking losses resulting from
the possible inability of customers to make required payments (current expected losses). The amount of the allowance is determined principally
on the basis of past collection experience and known financial factors regarding specific customers.
Accounts receivables comprise of receivables from
customers and receivables from merchant processors. The Company has a policy of providing an 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 consist
primarily of cash prepayments to vendors for inventory and prepayments for trade shows and marketing events which will be utilized within
a year, prepayments on credit cards and the right to recover assets (for the cost of goods sold) associated with the right of returns
for products sold.
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. The Company continuously evaluates the levels of inventory held and any inventory held above the expected level of
sales in the next 12 months, is classified as non-current inventory.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 2 – Basis of Presentation and Summary
of Critical Accounting Policies (continued)
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.
Product warranty
The Company provides a one-year, two-year or three-year
limited warranty on its hearing enhancement and hearing protection products. The Company records the costs of repairs and replacements,
as they are incurred, to the cost of sales.
Revenue recognition
The Company follows Accounting Standards Codification
(“ASC”) 606, “Revenue From Contracts With Customers.” This revenue recognition standard (new guidance)
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 electronic hearing
and enhancement products and hair and skin care products. The Company recognizes revenue for the agreed upon sales price when a purchase
order is received from the customer and subsequently the product is shipped to the customer, which satisfies the performance obligation.
Consideration paid to the customer to promote and sell the Company’s products is typically recorded as a reduction in revenues.
The five steps for the revenue recognition are as
follows:
Identify the contract with a customer. The
Company generally considers completion of a sales order (which requires customer acceptance of the Company’s click-through terms
and conditions for website sales and authorization of payment through credit card or another form of payment for sales made over the phone)
or purchase orders from non-consumer customers as a customer contract provided that collection is considered probable. For payments that
are not made upfront by credit card, the Company assesses customer creditworthiness based on credit checks, payment history, and/or other
circumstances. For payments involving third party financier payors, the Company validates customer eligibility and reimbursement amounts
prior to shipping the product.
Identify the performance obligations in the contract.
Product performance obligations include shipment of products and related accessories, and service performance obligations include extended
warranty coverage.
However, as the historical redemption rate under our
warranty policy has been low, the option is not accounted for as a separate performance obligation. The Company does not assess whether
promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 2 – Basis of Presentation and Summary
of Critical Accounting Policies (continued)
Determine the transaction price and allocation
to performance obligations. The transaction price in the Company’s customer contracts consists of both fixed and variable
consideration. Fixed consideration includes amounts to be contractually billed to the customer while variable consideration includes
the 30-days and 60-days right of return that applies to hearing enhancement and protection products and hair and skincare products,
respectively. To estimate product returns, the Company analyzes historical return levels, current economic trends, and changes in
customer demand. Based on this information, the Company reserves a percentage of product sale revenue and accounts for the estimated
impact as a reduction in the transaction price.
Allocate the transaction price to the performance
obligations in the contract. For contracts that contain multiple performance obligations, the Company allocates the transaction price
to the performance obligations on a relative standalone selling price basis.
Recognize revenue when or as the Company satisfies
a performance obligation. Revenue for products is recognized at a point in time, which is generally upon shipment. Revenue for services
(extended warranty) is recognized over time on a ratable basis over the warranty period.
As of February 29, 2024, and May 31, 2023, contract
liabilities amounted to $1,421,558 and $1,433,048, respectively. As of February 29, 2024 and May 31, 2023, contract liabilities associated
with product invoiced but not received by customers at the balance sheet date was $0 and $0, respectively; contract liabilities associated
with unfulfilled performance obligations for warranty services offered for a period of one, two and three years was $1,293,627 and $1,320,401,
respectively, and contract liabilities associated with unfulfilled performance obligations for customers’ right of return was $127,931
and $112,647, respectively. Our contract liabilities amounts are expected to be recognized over a period of between one year to three
years. Approximately $880,450 will be recognized in year one, $455,170 will be
recognized in year two, and $85,938 will be recognized in year three.
Revenue recognized, during the three months ended
February 29, 2024, that was included in the contract liability balance upon the acquisition of Axil & Associated Brands was $72,955.
Revenue recognized, during the nine months ended February 29, 2024, that was included in contract liability balance upon the acquisition
of Axil & Associated Brands was $259,201.
Cost of Sales
The primary components of cost of sales include the cost of the product and shipping
fees related to product procurement.
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 expense
were $313,318 and $283,237 for the three months ended February 29, 2024 and February 28, 2023, respectively. Shipping costs included in
the marketing and selling expense were $807,333 and $790,759 for the nine months ended February 29, 2024 and February 28, 2023, respectively.
Sales, Marketing and Advertising
Sales, marketing 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.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 2 – Basis of Presentation and Summary
of Significant Accounting Policies (continued)
Fair value measurements and fair value of financial instruments
The Company adopted ASC 820, “Fair Value Measurements
and Disclosures,” 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 Company’s 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 entity’s own assumptions. |
The Company analyzes all financial instruments with
features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard
for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level
of input that is significant to the fair value measurement.
The estimated fair value of certain financial instruments,
including prepaid expenses, deposits, accounts payable and accrued expenses are carried at historical cost basis, which approximates their
fair values because of the short-term nature of these instruments.
Business Combinations
For all business combinations (whether partial, full
or step acquisitions), the Company records 100% of all assets acquired and liabilities assumed of the acquired business, at their fair
values.
Goodwill represents the excess purchase price over
the fair value of the tangible net assets and intangible assets acquired in a business combination. Acquisition-related expenses are recognized
separately from business combinations and are expensed as incurred. If the business combination provides for contingent consideration,
the Company records the contingent consideration at fair value at the acquisition date. Changes in fair value of contingent consideration
resulting from events after the acquisition date, such as earn-outs, are recognized as follows: (1) if the contingent consideration is
classified as equity, the contingent consideration is not re-measured and its subsequent settlement is accounted for within equity, or
(2) if the contingent consideration is classified as a liability, the changes in fair value and accretion costs are recognized in earnings.
The increases or decreases in the fair value of contingent consideration can result from changes in anticipated revenue levels and changes
in assumed discount periods and rates.
Goodwill
Goodwill is comprised of the purchase price of business
combinations in excess of the fair value assigned at acquisition to the net tangible and identifiable intangible assets acquired. Goodwill
is not amortized. The Company tests goodwill for impairment for its reporting units on an annual basis, or when events occur, or circumstances
indicate the fair value of a reporting unit is below its carrying value.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 2 – Basis of Presentation and Summary
of Critical Accounting Policies (continued)
The Company performs its annual goodwill impairment
assessment on May 31st of each year or as impairment indicators dictate.
When evaluating the potential impairment of goodwill,
management first assesses a range of qualitative factors, including but not limited to, macroeconomic conditions, industry conditions,
the competitive environment, changes in the market for the Company’s products and services, regulatory and political developments,
entity specific factors such as strategy and changes in key personnel, and the overall financial performance for each of the Company’s
reporting units. If, after completing this assessment, it is determined that it is more likely than not that the fair value of a reporting
unit is less than its carrying value, we then proceed to the quantitative impairment testing methodology primarily using the income approach
(discounted cash flow method).
Under the quantitative method we compare the
carrying value of the reporting unit, including goodwill, with its fair value, as determined by its estimated discounted cash flows. If
the carrying value of a reporting unit exceeds its fair value, then the amount of impairment to be recognized is the amount by which the
carrying amount exceeds the fair value.
When required, we arrive at our estimates of fair
value using a discounted cash flow methodology which includes estimates of future cash flows to be generated by specifically identified
assets, as well as selecting a discount rate to measure the present value of those anticipated cash flows. Estimating future cash flows
requires significant judgment and includes making assumptions about projected growth rates, industry-specific factors, working capital
requirements, weighted average cost of capital, and current and anticipated operating conditions. The use of different assumptions or
estimates for future cash flows could produce different results.
Income Taxes
The Company accounts for income taxes pursuant to the
provision of ASC 740-10, “Accounting for Income Taxes,” which requires, among other things, an asset and liability
approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities
for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities.
A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that
the net deferred asset will not be realized.
The Company follows the provision of ASC 740-10 related
to Accounting for Uncertain Income Tax Positions. When tax returns are filed, there may be uncertainty about the merits of positions taken
or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax
position is recognized in the financial statements in the period during which, based on all available evidence, management believes it
is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes,
if any. Tax positions taken are not offset or aggregated with other positions.
Tax positions that meet the more likely than not recognition
threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with
the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described
above should be reflected as a liability for uncertain tax benefits in the accompanying consolidated balance sheet along with any associated
interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all
more likely than not to be upheld upon examination. As such, the Company has not recorded a liability for uncertain tax benefits.
The Company has adopted ASC 740-10-25, “Definition
of Settlement”, which provides guidance on how an entity should determine whether a tax position is effectively settled for
the purpose of recognizing previously unrecognized tax benefits and provides that a tax position can be effectively settled upon the
completion and examination by a taxing authority without being legally extinguished. For tax positions considered effectively settled,
an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained
based solely on the basis of its technical merits and the statute of limitations remains open. The federal and state income tax
returns of the Company are subject to examination by the Internal Revenue Service (“IRS”) and state taxing authorities, generally
for three years after they are filed.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 2 – Basis of Presentation and Summary
of Critical Accounting Policies (continued)
Impairment of long-lived assets
The Company reviews long-lived assets for impairment
whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least
annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying
amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book
value. The Company did not record any impairment loss during the nine months ended February 29, 2024 and February 28, 2023.
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,” which requires
recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments
over the period the employee or director 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 and director services received in exchange for an award based on the grant-date
fair value of the award.
For non-employee stock option based awards, the Company
follows Accounting Standards Update (“ASU”) 2018-7, which substantially aligns share based compensation for employees and
non-employees.
Net income per share of Common Stock
Basic net income per share is computed by dividing the net income by
the weighted average number of common shares during the period. Diluted net income per share is computed using the weighted average number
of common shares and potentially dilutive securities outstanding during the period. For both the three months ended and nine months ended
February 29, 2024 and February 28, 2023, certain stock options and restricted stock awards were excluded from the computation of diluted
common shares outstanding as they would have an anti-dilutive impact on the Company’s net income.
The following table sets forth the computations of
basic and diluted net income per common share:
Schedule of net loss per share | |
| | | |
| | | |
| | | |
| | |
| |
For the Three Months Ended | |
For the Nine Months Ended |
| |
February 29, | |
February 28, | |
February 29, | |
February 28, |
| |
2024 | |
2023 | |
2024 | |
2023 |
| |
| |
| |
| |
|
Net income | |
$ | 781,091 | | |
$ | 162,048 | | |
$ | 1,953,618 | | |
$ | 1,064,475 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted average basic shares | |
| 5,863,939 | | |
| 5,849,501 | | |
| 5,863,939 | | |
| 5,574,312 | |
Dilutive securities: | |
| | | |
| | | |
| | | |
| | |
Convertible preferred stock | |
| 12,500,000 | | |
| 12,500,000 | | |
| 12,500,000 | | |
| 11,767,399 | |
Stock options | |
| 212,975 | | |
| 280,000 | | |
| 205,201 | | |
| 156,026 | |
Weighted average dilutive shares | |
| 18,576,914 | | |
| 18,629,501 | | |
| 18,569,140 | | |
| 17,497,737 | |
| |
| | | |
| | | |
| | | |
| | |
Earnings per share: | |
| | | |
| | | |
| | | |
| | |
Basic | |
$ | 0.13 | | |
$ | 0.03 | | |
$ | 0.33 | | |
$ | 0.19 | |
Diluted | |
$ | 0.04 | | |
$ | 0.01 | | |
$ | 0.11 | | |
$ | 0.06 | |
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 2 – Basis of Presentation and Summary
of Critical Accounting Policies (continued)
Lease Accounting
In February 2016, the FASB issued ASU 2016-02, “Leases,”
which requires lessees to report on their balance sheets a right-of-use asset and a lease liability in connection with most lease agreements
classified as operating leases under the prior guidance (ASC 840). Under the new guidance, codified as ASC 842, the lease liability must
be measured initially based on the present value of future lease payments, subject to certain conditions. The right-of-use asset must
be measured initially based on the amount of the liability, plus certain initial direct costs. The new guidance further requires that
leases be classified at inception as either (a) operating leases or (b) finance leases. For operating leases, periodic expense is generally
flat (straight-line) throughout the life of the lease. For finance leases, periodic expense declines over the life of the lease. The
new standard, as amended, provides an option for entities to use the cumulative-effect transition method. As permitted, the Company adopted
ASC 842 effective June 1, 2019. The adoption of ASC 842 did not have a material impact on the Company’s consolidated financial
statements.
The Company’s renewed lease for its corporate
headquarters commencing December 1, 2022, under lease agreements classified as an operating lease. Please see Note 11 – “Commitments
and Contingencies” under “Leases” below for more information about the Company’s leases.
Segment Reporting
The Company follows ASC 280, “Segment
Reporting.” The Company’s management reviews the Company’s consolidated financial results when making decisions
about allocating resources and assessing the performance of the Company as a whole and has determined that the Company’s reportable
segments are: (a) the sale of hearing protection and hearing enhancement products, and (b) the sale of hair care and skin care products.
See Note 15 – “Business Segment and Geographic Area Information” for more information about the Company’s reportable
segments.
Recently Issued Accounting Pronouncements
In August 2020, the FASB issued ASU 2020-06, “Debt
– Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own
Equity,” which simplifies the accounting for certain convertible instruments. Among other things, under ASU 2020-06, the
embedded conversion features no longer must be separated from the host contract for convertible instruments with conversion features
not required to be accounted for as derivatives, or that do not result in substantial premiums accounted for as paid-in capital. ASU
2020-06 also eliminates the use of the treasury stock method when calculating the impact of convertible instruments on diluted Earnings
per Share. For the Company, the provisions of ASU 2020-06 are effective for its fiscal year beginning on June 1, 2024. Early adoption
is permitted, subject to certain limitations. The Company is evaluating the potential impact of adoption on its consolidated financial
statements.
Other accounting standards that have been issued or
proposed by the 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.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 3 – Accounts Receivable, net
Accounts receivable, consisted of the following:
Schedule of accounts receivable | |
| |
|
| |
February 29, 2024 | |
May 31, 2023 |
Customers Receivable | |
$ | 913,024 | | |
$ | 345,264 | |
Merchant Processor Receivable | |
| 40,786 | | |
| 167,232 | |
Less: Allowance for Doubtful Debts | |
| (234,306 | ) | |
| (95,480 | ) |
Accounts receivable, net | |
$ | 719,504 | | |
$ | 417,016 | |
The Company recorded bad debt expense of $79,068 and
$119,757 during the three months ended February 29, 2024 and February 28, 2023, respectively. The Company recorded bad debt expense of
$143,395 and $13,782 during the nine months ended February 29, 2024 and February 28, 2023, respectively.
Note 4 – Inventory, net
Inventory consisted of the following:
Schedule of inventory | |
| |
|
| |
February 29, 2024 | |
May 31, 2023 |
Finished Goods | |
$ | 3,257,573 | | |
$ | 1,198,218 | |
Raw Materials | |
| 185,720 | | |
| 113,646 | |
Inventory, net | |
$ | 3,443,293 | | |
$ | 1,311,864 | |
At February 29, 2024 and May 31, 2023, inventory held
at third party locations amounted to $77,803 and $0, respectively. At February 29, 2024 and May 31, 2023, inventory in-transit amounted
to $369,243 and $135,482, respectively.
During the nine months ended February 29, 2024, the
Company did not record any allowance on slow moving inventory that would be included in cost of sales. As of February 29, 2024, there
was no slow moving inventory.
Note 5 – Property and Equipment
Property and equipment, stated at cost, consisted
of the following:
Schedule of property and equipment |
|
|
|
|
|
|
|
|
|
|
Estimated Life |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Furniture and Fixtures |
|
5 years |
|
$ |
25,644 |
|
|
$ |
14,598 |
|
Computer Equipment |
|
3 years |
|
|
30,968 |
|
|
|
33,146 |
|
Plant Equipment |
|
5-10 years |
|
|
216,738 |
|
|
|
165,778 |
|
Automobile |
|
5 years |
|
|
15,000 |
|
|
|
15,000 |
|
Tractor Trailer |
|
15 years |
|
|
9,347 |
|
|
|
- |
|
Less: Accumulated Depreciation |
|
|
|
|
(85,551 |
) |
|
|
(71,059 |
) |
Total Property and Equipment, net |
|
|
|
$ |
212,146 |
|
|
$ |
157,463 |
|
Depreciation expense amounted to $8,237 and $4,554
for the three months ended February 29, 2024 and February 28, 2023, respectively. Depreciation expense amounted to $25,508 and $12,046
for the nine months ended February 29, 2024 and February 28, 2023, respectively.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 6 – Intangible Assets
The Company acquired intangible assets through the
Business Combination. (See Note 13). These intangible assets consisted of the following:
Schedule of intangible assets |
|
|
|
|
|
|
|
|
|
|
Estimated Life |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Licensing rights |
|
3 years |
|
$ |
11,945 |
|
|
$ |
11,945 |
|
Customer Relationships |
|
3 years |
|
|
70,000 |
|
|
|
70,000 |
|
Trade Names |
|
10 years |
|
|
275,000 |
|
|
|
275,000 |
|
Website |
|
5 years |
|
|
100,000 |
|
|
|
100,000 |
|
Less: Accumulated Amortization |
|
|
|
|
(132,396 |
) |
|
|
(74,271 |
) |
Total Intangible Assets, net |
|
|
|
$ |
324,549 |
|
|
$ |
382,674 |
|
Goodwill arising through the business combination
was $2,152,215 at February 29, 2024 (see Note 13).
Amortization expense amounted to $19,375 and $19,376 for the three months ended February 29,
2024 and February 28, 2023, respectively. Amortization expense amounted to $58,126 and $54,898 for the nine months ended February 29,
2024 and February 28, 2023, respectively.
Note 7 – Other Current Liabilities
Other current liabilities comprised of the following:
Schedule of other current liabilities |
|
|
|
|
|
|
|
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Credit Cards |
|
$ |
17,470 |
|
|
$ |
833 |
|
Accrued Interest |
|
|
— |
|
|
|
10,343 |
|
Royalty Payment Accrual |
|
|
10,551 |
|
|
|
8,792 |
|
Sales Tax Payable |
|
|
277,992 |
|
|
|
240,559 |
|
Other Accrued Expenses |
|
|
1,781 |
|
|
|
17,464 |
|
Affiliate Accrual |
|
|
— |
|
|
|
27,673 |
|
Total Other Current Liabilities |
|
$ |
307,794 |
|
|
$ |
305,664 |
|
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 8 – Equipment Payable
During the fiscal 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. At February 29, 2024 and May 31, 2023, the balance outstanding on
the loan was $0 and $2,200, respectively. The Company recorded interest expense of $334 and $334, associated with the equipment financing
during the nine months ended February 29, 2024 and February 28, 2023, on the loan in the accompanying unaudited consolidated financial
statements.
Note 9 – Notes Payable
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 in installments of principal and interest 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 used the loan proceeds for qualifying expenses. During the year ended May 31, 2022, the
Company received additional $10,000 of borrowings under the program. The Company received a loan forgiveness for $10,000 during
the year ended May 31, 2022. The Company recorded interest receivable of $437 and accrued interest of $10,343, as of February 29, 2024
and May 31, 2023, respectively.
Schedule of notes payable |
|
|
|
|
|
|
Notes Payable as of |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Insurance Financing |
|
$ |
— |
|
|
$ |
21,335 |
|
Financing Charges |
|
|
— |
|
|
|
1,253 |
|
Economic Injury Disaster Loan Program (EIDL) |
|
|
147,150 |
|
|
|
150,000 |
|
Total |
|
|
147,150 |
|
|
|
172,588 |
|
Less: Current portion |
|
|
(3,310 |
) |
|
|
(172,588 |
) |
Non-current portion |
|
$ |
143,840 |
|
|
$ |
— |
|
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 10 – Stockholders’ Equity
Shares Authorized
As of February 29, 2024, the authorized capital of
the Company consists of 450,000,000
shares of common stock, par value $0.0001
per share and 300,000,000
shares of preferred stock, par value $0.0001
per share. Any fractional shares remaining after the Reverse Stock Split were rounded up to the nearest whole share.
Preferred Stock
The preferred stock may be issued from time to time
in one or more series. The Board 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 providing the issuance
of such shares. The Board 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.
During the fiscal year ended May 31, 2023, the Company issued 250,000,000
shares of non-voting Series A Preferred Stock, which, following the reverse stock split of the Company’s common stock, are convertible
into shares of the Company’s common stock on a one-to-twenty ratio, pursuant to the Asset Purchase Agreement (See Note 13 and “Common
Stock” section below). These 250,000,000 shares of non-voting Series A Preferred Stock were valued at the fair market value of $3,100,000
at issuance.
The holders of shares of Series A Preferred Stock
have no rights to dividends with respect to such shares. No dividends or other distributions shall be declared or paid on the common stock
unless and until dividends at the same rate shall have been paid or declared and set apart upon the Series A Preferred Stock, based upon
the number of shares of common stock into which the Series A Preferred Stock may then be converted. Upon the dissolution, liquidation,
or winding up of the Company, whether voluntary or involuntary, the holders of the Series A Preferred Stock are entitled to receive out
of the assets of the Company the sum of $0.0001 per share before any payment or distribution shall be made on our shares of common stock.
The Series A Preferred Stock shall not be subject to redemption at the option, election or request of the Company or any holder or holders
of the Series A Preferred Stock. Each share of Series A Preferred Stock is convertible at the option of the holder thereof, at any time
after the second anniversary of the date of the first issuance of the shares of Series A Preferred Stock into twenty fully paid and nonassessable
shares of common stock provided, however, that the holder may not convert that number of shares of Series A Preferred Stock which would
cause the holder to become the beneficial owner of more than 5% of the Company’s common stock as determined in accordance with Sections
13(d) and (g) of the Exchange Act and the applicable rules and regulations thereunder.
The conversion provisions of the Company’s Series
A Preferred Stock was proportionately adjusted in connection with the Reverse Stock Split but did not adjust the number of shares issued
and outstanding. Please see Note 17 – Subsequent Events included herein for additional information about the Series A Preferred
Stock.
As of February 29, 2024 and May 31, 2023, 250,000,000
shares of preferred stock were issued and outstanding.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 10 – Stockholders’ Equity (continued)
Common Stock
As of February 29, 2024, 5,878,939 shares of common
stock were issued and outstanding.
The
Reverse Stock Split as more fully discussed in Note 1, did not change the par value of the common stock, modify any voting rights or
other terms of the common stock, or change the number of authorized shares of the Company. Any fractional shares remaining after the
Reverse Stock Split were rounded up to the nearest whole share.
15,000 restricted stock awards were issued during the nine month period
ended February 29, 2024 (See below).
Stock Options
On February 14, 2024, the Board amended the Company’s
original 2022 Equity Incentive Plan (the “Plan”), which was originally approved on March 21, 2022. The effective date of
the amended Plan is October 31, 2023. Under the Plan, equity-based awards may be made to employees, officers, directors, non-employee
directors and consultants of the Company and its Affiliates (as defined in the Plan) in the form of (i) Incentive Stock Options
(to eligible employees only); (ii) Nonqualified Stock Options; (iii) Restricted Stock; (iv) Stock Awards; (v) Performance
Shares; or (vi) any combination of the foregoing. The Plan will terminate upon the close of business on the day next preceding October
31, 2033, unless terminated earlier in accordance with the terms of the Plan. The Board serves as the Plan administrator and may amend
or terminate the Plan without stockholder approval, subject to certain exceptions.
The total number of shares initially authorized for
issuance under the Plan was 500,000 shares. The Plan was amended and restated to provide the sum of 1,250,000 shares of common stock
authorized for issuance under the Plan. The Plan provides for an annual increase on April 1 of each calendar year, beginning in 2022 and
ending in 2031, subject to Board approval prior to such date. Such potential increase may be equal to the lesser of (i) 4% of the total
number of shares of the Company’s common stock outstanding on May 31 of the immediately preceding fiscal year and (ii) such smaller
number of shares as determined by the Board. The number of shares authorized for issuance under the Plan will not change unless the Board
affirmatively approves an increase in the number of shares authorized for issuance prior to April 1 of the applicable year. Shares surrendered
or withheld to pay the exercise price of a stock option or to satisfy tax withholding requirements will not be added back to the number
of shares available under the Plan. To the extent that any shares of common stock awarded or subject to issuance or purchase pursuant
to awards under the Plan are not delivered or purchased, or are reacquired by the Company, for any reason, including a forfeiture of restricted
stock or failure to earn performance shares, or the termination, expiration or cancellation of a stock option, or any other termination
of an award without payment being made in the form of shares of common stock will be added to the number of shares available for awards
under the Plan. The number of shares available for issuance under the Plan will be adjusted for any increase or decrease in the number
of outstanding shares of common stock resulting from payment of a stock dividend on common stock, a stock split or subdivision or combination
of shares of common stock, or a reorganization or reclassification of common stock, or any other change in the structure of shares of
common stock, as determined by the Board. Shares available for awards under the Plan will consist of authorized and unissued shares.
Two types of options may be granted under the Plan:
(1) Incentive Stock Options, which may only be issued to eligible employees of the Company and are required to have exercise price of
the option not less than the fair market value of the common stock on the grant date, or, in the case of an Incentive Stock Option
granted to a Ten Percent Stockholder, 110% of the fair market value of the common stock on the grant date; and (2) Non-qualified
Stock Options, which may be issued to participants under the Plan and which may have an exercise price less than the fair market value
of the common stock on the grant date, but not less than par value of the stock.
The Board may grant or sell restricted stock to participants
(i.e., shares that are subject to a subject to restrictions or limitations as to the participant’s ability to sell, transfer, pledge
or assign such shares) under the Plan. Except for these restrictions and any others imposed by the Board, upon the grant of restricted
stock, the recipient generally will have rights of a stockholder with respect to the restricted stock. During the applicable restriction
period, the recipient may not sell, exchange, transfer, pledge or otherwise dispose of the restricted stock. The Board may also grant
awards of common stock to participants under the Plan, as well as awards of performance shares, which are awards for which the payout
is subject to achievement of such performance objectives established by the Board. Performance shares may be settled in cash.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 10 – Stockholders’ Equity (continued)
Each equity-based award granted under the Plan will
be evidenced by an award agreement that specifies the terms of the award and such additional limitations, terms and conditions as the
Board may determine, consistent with the provisions of the Plan.
Upon the occurrence of a change in control, unless
otherwise provided in an award agreement: (i) all outstanding stock options will become immediately exercisable in full; (ii) all outstanding
performance shares will vest in full as if the applicable performance conditions were achieved in full, subject to certain adjustments,
and will be paid out as soon as practicable; and (iii) all restricted stock will immediately vest in full. The Plan defines a change in
control as (i) the adoption of a plan of merger or consolidation of the Company with any other corporation or association as a result
of which the holders of the voting capital stock of the Company as a group would receive less than 50% of the voting capital stock of
the surviving or resulting corporation; (ii) the approval by the Board of an agreement providing for the sale or transfer (other than
as security for obligations of the Company) of substantially all the assets of the Company; or (iii) in the absence of prior Board approval,
the acquisition of more than 20% of the Company’s voting capital stock by any person within the meaning of Rule 13d-3 under the
Exchange Act (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with,
the Company).
Subject to the Plan’s terms, the Board has full
power and authority to determine whether, to what extent and under what circumstances any outstanding award will be terminated, canceled,
forfeited or suspended. Awards to that are subject to any restriction or have not been earned or exercised in full by the recipient will
be terminated and canceled if such recipient is terminated for cause, as determined by the Board in its sole discretion.
The Company estimates the fair value of share-based
compensation utilizing the Black-Scholes option pricing model, which is dependent upon several variables such as the expected option
term, expected volatility of the Company’s stock price over the expected term, expected risk-free interest rate over the expected
option term and expected dividend yield rate over the expected option term. The Company believes this valuation methodology is appropriate
for estimating the fair value of stock options granted to employees and directors which are subject to ASC 718 requirements. These amounts
are estimates and thus may not be reflective of actual future results, nor amounts ultimately realized by recipients of these grants.
The Company recognizes compensation on a straight-line basis over the requisite service period for each award.
The Company utilizes the simplified method to estimate
the expected life for stock options granted to employees. The simplified method was used as the Company does not have sufficient historical
data regarding stock option exercises. The expected volatility is based on historical volatility. The risk-free interest rate is based
on the U.S. Treasury yields with terms equivalent to the expected life of the related option at the time of the grant. Dividend yield
is based on historical trends. While the Company believes these estimates are reasonable, the compensation expense recorded would increase
if the expected life was increased, a higher expected volatility was used, or if the expected dividend yield increased.
Pursuant to the Plan, on May 10, 2022, the Company issued to two Company officers non-statutory
stock options to purchase, in the aggregate, up to 265,000 shares of its common stock, at an exercise price of $1.80 per share
valued at $477,000 and expiring on April 20, 2032. The options vest over time with 25% of the options vesting on September 1, 2022 and
thereafter vesting 1/24th on the 1st of every month. As of February 29, 2024, 194,219 of the options were vested.
The Company computed the aggregate grant date fair
value of $477,000 using the Black-Scholes option pricing model, which is being recorded as stock-based compensation expense over the vesting
period. During the three months ended February 29, 2024 and February 28, 2023, the Company recorded stock-based compensation expense of
$51,105 and $30,922, respectively, for these options, in the accompanying unaudited consolidated financial statements. During the nine
months ended February 29, 2024 and February 28, 2023, the Company recorded a stock-based compensation expense of $153,320 and $155,067,
respectively, for these options, in the accompanying unaudited financial statements.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 10 – Stockholders’ Equity (continued)
Pursuant to the Plan, on November 1, 2022, the Company
issued non-statutory stock options, to a former executive officer of the Company, to purchase, in the aggregate, up to 15,000 shares
of its common stock, at an exercise price of $4.00 per share valued at approximately $60,000 and expiring on October 31, 2032. 3,750 shares
vested as of January 29, 2023, and the remaining 11,250 were forfeited in April 2023 when the executive officer left the Company. The
fair value of the 3,750 vested options using the Black-Scholes option pricing model of $15,000.
The following table summarizes the activity relating
to the Company’s stock options held by executive officers:
Schedule of summarizes relating to the company’s stock |
|
|
|
|
|
|
|
|
|
|
|
Number of Options |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Remaining Term |
|
|
|
|
|
|
|
|
|
|
|
Outstanding at May 31, 2022 |
|
|
265,000 |
|
|
$ |
1.80 |
|
|
|
10.0 |
|
Granted |
|
|
15,000 |
|
|
$ |
1.80 |
|
|
|
9.68 |
|
Less: Forfeited |
|
|
(11,250 |
) |
|
$ |
4.00 |
|
|
|
9.68 |
|
Outstanding at May 31, 2023 |
|
|
268,750 |
|
|
$ |
1.80 |
|
|
|
8.92 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Less: Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding at February 29, 2024 |
|
|
268,750 |
|
|
$ |
1.80 |
|
|
|
8.17 |
|
Less: Unvested at February 29, 2024 |
|
|
(74,531 |
) |
|
$ |
1.80 |
|
|
|
8.17 |
|
Vested at February 29, 2024 |
|
|
194,219 |
|
|
$ |
1.80 |
|
|
|
8.17 |
|
Restricted Stock Awards
On February 14, 2024, the Board appointed new
directors to the Board who will participate in the Company’s non-employee director compensation arrangements. Under the terms
of those arrangements and pursuant to the Plan, on February 14, 2024, the Company granted each of its three Board members 5,000
restricted stock awards for an aggregate of 15,000
shares of the Company’s common stock that will vest on the one year anniversary of the grant, subject to the respective
director’s continued service as a member of the Board, with a total grant date fair value of $195,000.
During the nine months ended February 29, 2024 and February 28, 2023, the Company recorded a stock-based compensation expense
related to the restricted stock awards of $7,994
and $0,
respectively.
Note 11 – Commitments and Contingencies
Leases
As discussed in Note 2 above, the Company adopted ASU 2016-02, “Leases”
on June 1, 2019, which require lessees to report on their balance sheets a right-of-use asset and a lease liability in connection
with most lease agreements classified as operating leases. In November 2022, the Company entered into an extension of its lease for a
two-year term beginning December 1, 2022. The rent was $6,098 per month for the first year and then increased to $6,342 per month. On
September 22, 2023, the Company entered into a lease in Draper, Utah for a one-year term beginning October 1, 2023. The rent is $4,680
per month for the first year and will increase by two percent the following year.
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 if the Company directs
the use of the asset and obtains substantially all the economic benefits of the asset. These leases are recorded as right-of-use (“ROU”)
assets and lease obligation liabilities for leases with terms greater than 12 months. ROU assets represent the Company’s right to
use an underlying asset for the entirety of the lease term. Lease liabilities represent the Company’s obligation to make payments
over the life of the lease. A ROU asset and a lease liability are recognized at commencement of the lease based on the present value of
the lease payments over the life of the lease. Initial direct costs are included as part of the ROU asset upon commencement of the lease.
Since the interest rate implicit in a lease is generally not readily determinable for the operating leases, the Company uses an incremental
borrowing rate to determine the present value of the lease payments. The incremental borrowing rate represents the rate of interest the
Company would have to pay to borrow on a collateralized basis over a similar lease term to obtain an asset of similar value.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 11 – Commitments and Contingencies (continued)
The Company reviews the impairment of ROU assets consistent
with the approach applied for the Company’s other long-lived assets. The Company reviews the recoverability of long-lived assets
when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment
of possible impairment is based on the Company’s ability to recover the carrying value of the asset from the expected undiscounted
future pre-tax cash flows of the related operations.
Lease expense is recognized on a straight-line basis
over the lease term, while variable lease payments are expensed as incurred. Variable payments change due to facts or circumstances occurring
after the commencement date, other than the passage of time, and do not result in a remeasurement of lease liabilities. The Company’s
lease agreements do not contain any residual value guarantees or restrictive covenants.
The Company computed an initial lease liability of
$131,970 for the new lease agreement and an initial ROU asset in the same amount which was recorded on the books at the commencement of
the lease on December 1, 2022. During the nine months ended February 29, 2024 and February 28, 2023, the Company recorded a lease expense
in the amount of $55,976 and $65,776, respectively. As of February 29, 2024, the lease liability balance was $54,322 and the right of
use asset balance was $53,224. 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 |
|
|
|
|
|
|
|
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Assets |
|
|
|
|
|
|
|
|
Right of use assets |
|
$ |
131,970 |
|
|
$ |
131,970 |
|
Accumulated reduction |
|
|
(78,746 |
) |
|
|
(30,125 |
) |
Operating lease assets, net |
|
$ |
53,224 |
|
|
$ |
101,845 |
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
Lease liability |
|
$ |
131,970 |
|
|
$ |
131,970 |
|
Accumulated reduction |
|
|
(77,648 |
) |
|
|
(29,394 |
) |
Total lease liability, net |
|
|
54,322 |
|
|
|
102,576 |
|
Current portion |
|
|
(54,322 |
) |
|
|
(65,824 |
) |
Non-current portion |
|
$ |
— |
|
|
$ |
36,752 |
|
Maturities of operating lease liabilities were as
follows as of February 29, 2024:
Schedule of maturities of operating lease liabilities |
|
|
|
Operating Lease (fiscal year-end) |
|
|
|
2024 |
|
$ |
19,025 |
|
2025 |
|
|
38,049 |
|
Total |
|
$ |
57,074 |
|
Less: Imputed interest |
|
|
(2,752 |
) |
Present value of lease liabilities |
|
$ |
54,322 |
|
Contingencies
From time to time, we may become involved in various lawsuits and
legal proceedings which arise in the ordinary course of business. While the ultimate resolution is unknown, we do not expect that these
lawsuits will individually, or in the aggregate, have a material adverse effect to our results of operations, financial condition, or
cash flows. However, the outcome of any litigation is inherently uncertain and there can be no assurance that any expense, liability,
or damages that may ultimately result from the resolution of these matters will be covered by our insurance or will not be in excess
of amounts recognized or provided by insurance coverage and will not have a material adverse effect on our business, operating results,
financial condition, or cash flows. Where it is probable that we will incur a loss and the amount of the loss can be reasonably estimated,
we record a liability in our financial statements. In evaluating matters for accrual and disclosure purposes, we take into consideration
factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood
of our prevailing, the availability of insurance, and the severity of any potential loss. We reevaluate and update accruals as matters
progress over time. These legal accruals may be increased or decreased to reflect any relevant developments on a quarterly basis. Where
a loss is not probable or the amount of the loss is not estimable, we do not record an accrual, consistent with applicable accounting
guidance. In the opinion of management, while the outcome of such claims and disputes cannot be predicted with certainty, our ultimate
liability in connection with these matters is not expected to have a material adverse effect on our results of operations, financial
position or cash flows, and the amounts accrued for any individual matter are not material. However, legal proceedings are inherently
uncertain. As a result, the outcome of a particular matter or a combination of matters may be material to our results of operations for
a particular period, depending upon the size of the loss or our income for that particular period.
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 alleged breach of
agreement for non-payments for certain products against the Company. On September 2, 2023, Jacksonfill, LLC and the Company settled
the dispute in the Circuit Court of the Fourth Judicial Circuit in Duval County, Florida per a binding settlement agreement. There
is no admission of liability by the Company and on September 27, 2023 the Company paid attorneys on behalf of Jacksonfill, LLC the
settlement in the amount of $125,000. The reserve that was provided in the financial statements in excess of the final settlement
payment was recorded as a gain on settlement and is included in fiscal year 2024 other income in the amount of $79,182.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 12 – Related Party Transactions
During the nine months ended February 29, 2024, the Company paid bonuses that totaled $42,000
to Jeff Brown, Chief Operating Officer. The Company’s Chairman and Chief Executive Officer (“CEO”), Jeff Toghraie,
is the managing director of Intrepid Global Advisors (“Intrepid”). Intrepid has, from time to time, provided advances to
the Company for working capital purposes and is paid consulting fees throughout the year. Intrepid was paid $93,811 in consulting fees for the nine months
ended February 29, 2024. At February 29, 2024, the Company had net amounts receivable from Intrepid of $18,536
due to timing of transactions posting and, at May 31, 2023, the Company had amounts payable to Intrepid of $124,378.
These receivables and advances were short-term in nature and non-interest bearing. Additionally, pursuant to a voting agreement,
effective June 16, 2022 as amended effective November 7, 2022, with Axil & Associated Brands and Intrepid, we are subject to
certain limitations on our ability to sell our capital stock until June 2024. During the nine months ended February 29, 2024 and
February 28, 2023, the CEO has not received cash compensation nor was any accrued as the CEO does not have an employment
agreement.
During the nine months and three months ended February
29, 2024, the Company paid $173,500 and $58,000, respectively, as a consulting fee for product development to Weston T. Harris, a
stockholder of Axil & Associated Brands. During the nine months and three months ended February 29, 2024, the Company also paid $106,442
and $37,312 respectively, to the sons of Weston T. Harris as compensation for services relating to packaging design and affiliate
marketing.
On June 16, 2022, the Company and its wholly owned subsidiary Reviv3 Acquisition Corporation
completed the acquisition of both (i) the hearing protection business of Axil & Associated Brands, consisting of ear plugs and ear
muffs, and (ii) Axil & Associated Brands’ ear bud business pursuant to the Asset Purchase Agreement, dated May 1, 2022 and amended
on June 15, 2022 and September 8, 2022 (the “Axil Asset Purchase Agreement”), by and among the Company, Reviv3 Acquisition
Corporation, Axil & Associated Brands and certain stockholders of Axil & Associated Brands. As of February 29, 2024, Intrepid
held 21.3% of the outstanding common stock of the Company and no shares of Axil & Associated Brands.
Note 13 – Business Combination
On June 16, 2022, the Company completed the acquisition
of certain assets of Axil & Associated Brands, pursuant to the Axil Asset Purchase Agreement, providing for the acquisition of Axil
& Associated Brands’ hearing protection business and ear bud business. The business constituted substantially all of the business
operations of Axil & Associated Brands but did not include Axil & Associated Brands’ hearing aid line of business.
As of June 16, 2022, Intrepid
held 4.68% of the outstanding common stock of Axil & Associated Brands and 22.33% of the outstanding common stock of the Company.
As of February 29, 2024, Intrepid held no outstanding common shares of AXIL & Associated Brands, as they were distributed with the
Axil Asset Purchase Agreement. Mr. Toghraie, Chairman and CEO of the Company is the managing director of Intrepid.
As consideration for the
asset purchase, Axil & Associated Brands received a total of 253,659,195
shares comprised of (a) 3,659,195 shares of the Company’s common stock and (b) 250,000,000 shares of non-voting Series A Preferred
Stock, which are convertible into shares of the Company’s common stock on a 1-to-20 ratio. The Series A Preferred Shares may not
be converted or transferred for a period of two years following the closing of the acquisition. Thereafter, no holder of Series A Preferred
Shares may convert such shares into a number of shares of Company common stock that would cause the holder to beneficially own more than
5% of the Company’s common stock, as determined in accordance with Sections 13(d) and (g) of the Exchange Act. The purchase price
was computed to be $4,007,480 based on a fair value of $0.0158 per share on the date of acquisition.
The Company is utilizing
the Axil & Associated Brands’ assets to expand into the hearing enhancement business through its newly incorporated subsidiary.
The acquisition is accounted for by the Company in accordance
with the acquisition method of accounting pursuant to ASC 805 “Business Combinations” and pushdown accounting is applied
to record the fair value of the assets acquired by the Company. Under this method, the purchase price is allocated to the identifiable
assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. Any excess of the amount paid
over the estimated fair values of the identifiable net assets acquired was allocated to goodwill.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 13 – Business Combination (continued)
The following is a summary of the fair value of the
assets acquired and liabilities assumed at the date of acquisition:
Schedule of estimated fair value of the assets acquired |
|
|
|
Cash |
|
$ |
1,066,414 |
|
Accounts receivable |
|
|
227,786 |
|
Inventory |
|
|
1,342,461 |
|
Prepaid expenses |
|
|
62,452 |
|
Other assets |
|
|
108,030 |
|
Accounts payable |
|
|
(285,665 |
) |
Contract liabilities |
|
|
(1,043,332 |
) |
Other current liabilities |
|
|
(79,826 |
) |
Net tangible assets acquired |
|
$ |
1,398,320 |
|
|
|
|
|
|
Identifiable intangible assets |
|
|
|
|
Licensing rights |
|
$ |
11,945 |
|
Customer relationships |
|
|
70,000 |
|
Tradenames |
|
|
275,000 |
|
Website |
|
|
100,000 |
|
Total Identifiable intangible assets |
|
$ |
456,945 |
|
|
|
|
|
|
Consideration paid |
|
$ |
4,007,480 |
|
Total net assets acquired |
|
|
1,855,265 |
|
Goodwill purchased |
|
$ |
2,152,215 |
|
Note 14 – 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 Company’s account at this institution is insured by the
Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At February 29, 2024 and May 31, 2023, the Company held cash
of approximately $4,146,736 and $4,582,682, respectively, in excess of federally insured limits. The Company has not experienced any losses
in such accounts through February 29, 2024.
Concentration of Revenue, Accounts Receivable,
Product Line, and Supplier – Hair and Skin Care Products
During the three months ended February 29, 2024, hair
and skin care product sales to one customer, which represented over 10% of our total sales, totaled 52%. During the three months ended
February 28, 2023, there were sales to one customer, which represented over 10% of our total sales, and totaled 16%. During the nine months
ended February 29, 2024, hair and skin care product sales to two customers, which each represented over 10% of our total sales, aggregated
to approximately 40% of the Company’s net sales at 29% and 11%. During the nine months ended February 28, 2023, there were sales
to one customer, which represented over 10% of our total sales, and totaled 13%.
During the three months ended February 29, 2024, hair
and skin care product sales to customers outside the United States represented approximately 80% to Canada. During the three months ended
February 28, 2023, sales to customers outside the United States represented approximately 26%, which consisted of 25% sales to Canada
and 1% to Italy. During the nine months ended February 29, 2024, hair and skin care product sales to customers outside the United States
represented approximately 54% to Canada. During the nine months ended February 28, 2023, sales to customers outside the United States
represented approximately 24%, which consisted of 21% sales to Canada and 3% to Italy.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 14 – Concentrations (continued)
During the three months ended February 29, 2024, hair and skin care product sales by product line
which each represented over 10% of sales consisted of approximately 34% from sales of hair shampoo, 30% from sales of hair conditioner,
14% from bundle kits (shampoo, conditioner and spray), and 18% from hair treatment product. During the three months ended February 28,
2023, hair and skin care product sales by product line which each represented over 10% of sales consisted of approximately 25% from sales
of hair shampoo, 15% from conditioner, 37% from sale of bundle kits, and 13% from other hair treatment products. During the nine months
ended February 29, 2024, hair and skin care product sales by product line which each represented over 10% of sales consisted of approximately
25% from sales of hair shampoo, 25% from sales of hair conditioner, 24% from bundle kits, and 19% from hair treatment product. During
the nine months ended February 28, 2023, hair and skin care product sales by product line which each represented over 10% of sales consisted
of approximately 21% from sales of hair shampoo, 11% from sales of shampoo and conditioner bundles, 49% from sale of bundle kits, and
11% from sales of other hair treatment products.
During the nine months ended February 29, 2024 and
February 28, 2023, sales by product line comprised of the following:
Schedule of sales by product line | |
| | | |
| | |
| |
For the Nine Months Ended |
| |
February 29, | |
February 28, |
Hair Care Products | |
2024 | |
2023 |
Shampoo | |
| 25 | % | |
| 21 | % |
Shampoos and Conditioners | |
| 7 | % | |
| 11 | % |
Conditioner | |
| 25 | % | |
| 8 | % |
Bundle Kits | |
| 24 | % | |
| 49 | % |
Ancillary Products | |
| 19 | % | |
| 11 | % |
Total | |
| 100 | % | |
| 100 | % |
At February 29, 2024, hair and skin care product’s
accounts receivables from customers that accounted for more than 10% of sales transactions were from one customer at 25%. At May 31, 2023,
hair and skin care product’s accounts receivable from one customer accounted for more than 10% of sales transactions.
The Company purchased inventories and products from five vendors totaling approximately
$36,790 and three vendors totaling approximately $75,725 for the three months ended February 29, 2024 and February 28, 2023, respectively.
Hair and skin care inventory product purchased from three vendors totaling approximately $297,833 (95% of the purchases at 61%, 12% and
22%), during the fiscal year ended May 31, 2023. The Company purchased inventories and products from five vendors totaling approximately
$339,884 and from eight vendors totaling $293,204 for the nine months ended February 29, 2024 and February 28, 2023, respectively.
Concentration of Revenue, Accounts Receivable,
Product Line, and Supplier – Ear Protection and Enhancement Products
AXIL’s products are sold direct-to-consumer, therefore, 88.4% and
94.0% of sales was direct to customers during the three months ended February 29, 2024 and February 28, 2023, respectively. There was
no single customer that accounted for greater than 10% of total sales in those periods. During the nine months ended February 29, 2024
and February 28, 2023, sales direct to customers accounted for 91.7% and 97.1%, respectively. No single customer that accounted for greater
than 10% of total sales in those periods.
During the three months ended February 29, 2024, AXIL
sales to customers outside the United States represented approximately 2.6% which consisted of 2.3% from Canada and the remaining from
various countries. During the three months ended February 28, 2023, sales of AXIL product to customers outside the United States represented
3.9% which consisted of 2.7% from Canada and the remaining from various countries. During the nine months ended February 29, 2024, AXIL
sales to customers outside the United States represented approximately 3.7% which consisted of 3.5% from Canada and the remaining from
various countries. During the nine months ended February 28, 2023, sales of AXIL product to customers outside the United States represented
4.2% which consisted of 3.3% from Canada and the remaining from various countries.
Manufacturing is outsourced primarily overseas via
a number of third-party vendors, the largest vendor accounted for 78.3% and 89.2% of all purchases for the three months and nine months
ended February 29, 2024, respectively. For the fiscal year ended May 31, 2023, the two largest vendors accounted for 82% and 10% of all
purchases.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 14 – Concentrations (continued)
During the three months ended February 29, 2024,
AXIL gross sales of ear buds for PSAP (personal sound amplification product) and hearing protection by product line which each
represented over 10% of gross sales consisted approximately 47.2%
from Ghost Stryke, 12.9%
from Trackr earmuffs and 38.6%
of gross sales of other Bluetooth and ear buds. During the three months ended February 28, 2023, AXIL gross sales of ear buds and
hearing protection by product line which represented over 10%
of gross sales was 87.7%
from Ghost Stryke model GS-X and 11.3%
from Trackr earmuffs.
During the nine months ended February 29, 2024,
AXIL gross sales of ear buds for PSAP (personal sound amplification product) and hearing protection by product line which each
represented over 10% of gross sales consisted approximately 52.8%
from Ghost Stryke, 13.0%
from Trackr earmuffs and 33.1%
of gross sales of other Bluetooth and ear buds. During the nine months ended February 28, 2023, AXIL gross sales of ear buds and
hearing protection by product line which represented over 10%
of gross sales was 89.9%
from Ghost Stryke model GS-X.
During the nine months ended February 29, 2024
and February 28, 2023 gross sales by hearing enhancement and protection products comprised of the following:
Schedule of sales by product comprised | |
| | | |
| | |
| |
For the Nine Months Ended |
| |
February 29, | |
February 28, |
Ear Protection & Enhancement Products | |
2024 | |
2023 |
Ghost Stryke | |
| 52.8 | % | |
| 89.9 | % |
Trackr earmuffs | |
| 13.0 | % | |
| 9.0 | % |
Other Bluetooth and ear buds | |
| 33.1 | % | |
| 1.0 | % |
Accessories, other | |
| 1.1 | % | |
| 0.1 | % |
Total | |
| 100.0 | % | |
| 100.0 | % |
Note 15
– Business Segment and Geographic Area Information
Business Segments
The Company, directly or through its subsidiaries,
markets and sells its products and services directly to consumers and through its dealers. In June 2022, the Company acquired a hearing
enhancement and hearing protection business. The Company’s determination of its reportable segments is based on how its chief operating
decision makers manage the business.
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 15
– Business Segment and Geographic Area Information (continued)
The Company’s segment information is as follows:
Schedule of segment information | |
| | | |
| | | |
| | | |
| | |
| |
Three Months Ended | |
Nine Months Ended |
| |
February 29, | |
February 28, | |
February 29, | |
February 28, |
Net Sales | |
2024 | |
2023 | |
2024 | |
2023 |
Hair care and skin care | |
$ | 476,864 | | |
$ | 302,415 | | |
$ | 1,022,458 | | |
$ | 1,206,385 | |
Hearing enhancement and protection | |
| 5,992,479 | | |
| 5,354,046 | | |
| 19,974,831 | | |
| 15,419,433 | |
Total net sales | |
$ | 6,469,343 | | |
$ | 5,656,461 | | |
$ | 20,997,289 | | |
$ | 16,625,818 | |
| |
| | | |
| | | |
| | | |
| | |
Operating earnings (loss) | |
| | | |
| | | |
| | | |
| | |
Segment gross profit: | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 247,859 | | |
$ | 202,016 | | |
$ | 641,966 | | |
$ | 842,447 | |
Hearing enhancement and protection | |
| 4,376,467 | | |
| 4,016,469 | | |
| 14,887,865 | | |
| 11,697,726 | |
Total segment gross profit | |
$ | 4,624,326 | | |
$ | 4,218,485 | | |
$ | 15,529,831 | | |
$ | 12,540,173 | |
Selling and Marketing | |
| 3,398,949 | | |
| 3,173,383 | | |
| 10,278,570 | | |
| 8,250,257 | |
General and Administrative | |
| 1,329,256 | | |
| 828,513 | | |
| 3,917,471 | | |
| 2,888,931 | |
Consolidated operating income (loss) | |
$ | (103,879 | ) | |
$ | 216,588 | | |
$ | 1,333,790 | | |
$ | 1,400,984 | |
| |
| | | |
| | | |
| | | |
| | |
Total Assets: | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 4,232,913 | | |
$ | 1,243,359 | | |
$ | 4,232,913 | | |
$ | 1,243,359 | |
Hearing enhancement and protection | |
| 8,480,805 | | |
| 8,047,093 | | |
| 8,480,805 | | |
| 8,047,093 | |
Consolidated total assets | |
$ | 12,713,718 | | |
$ | 9,290,452 | | |
$ | 12,713,718 | | |
$ | 9,290,452 | |
| |
| | | |
| | | |
| | | |
| | |
Payments for property and equipment | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
Hearing enhancement and protection | |
| 9,347 | | |
| 11,250 | | |
| 80,192 | | |
| 65,650 | |
Consolidated total payments for property and equipment | |
$ | 9,347 | | |
$ | 11,250 | | |
$ | 80,192 | | |
$ | 65,650 | |
| |
| | | |
| | | |
| | | |
| | |
Depreciation and amortization | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 1,417 | | |
$ | 1,417 | | |
$ | 4,251 | | |
$ | 4,258 | |
Hearing enhancement and protection | |
| 26,197 | | |
| 22,512 | | |
| 79,383 | | |
| 62,686 | |
Consolidated total depreciation and amortization | |
$ | 27,614 | | |
$ | 23,929 | | |
$ | 83,634 | | |
$ | 66,944 | |
Geographic Area Information
During the three months ended February 29, 2024, approximately
96% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). During the three
months ended February 28, 2023, approximately 94% of our consolidated net sales were to customers located in the U.S. (based on the customer’s
shipping address). All Company assets are located in the U.S.
During the nine months ended February 29, 2024, approximately
95% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). During the nine
months ended February 28, 2023, approximately 94% of our consolidated net sales were to customers located in the U.S. (based on the customer’s
shipping address).
AXIL BRANDS, INC. AND SUBSIDIARY
CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL
STATEMENTS
FEBRUARY 29, 2024
Note 16 – Income Taxes
We calculated our interim tax provision in accordance
with ASC 270, “Interim Reporting,” and ASC 740, “Accounting for Income Taxes.” As the end of each
interim quarterly period, we estimate our annual effective tax rate and apply that rate to our ordinary quarterly earnings to calculate
the tax related to ordinary income. The tax effects of other items that are excluded from ordinary income are discretely calculated and
recognized in the period in which they occur.
We recorded an income tax benefit of $397,054
for the nine months ended February 29, 2024 that was related to the reversal of fiscal year ended May 31, 2023 income tax liability
due to filing of the federal and state tax returns, as well as additional net operating losses which can offset current year income
tax liability. In addition, there are remaining net operating losses that created a deferred tax asset which management believes are
fully realizable. For the nine months ended February 28, 2023 provision for income tax expense was $395,344.
The Company does not have any uncertain tax positions
or events leading to uncertainty in a tax position. The Company’s 2020, 2021, 2022 and 2023 Corporate Income Tax Returns are subject
to IRS examination.
Note 17 – Subsequent Events
Corporate Actions
On March 5, 2024, the Board approved and the
Company entered into repurchase agreements with certain stockholders of the Company to purchase in the aggregate 207,748,250 shares
of Series A Preferred Stock of the Company (equivalent, in aggregate, to 10,387,413 shares of the Company’s
common stock on an as converted basis) for the aggregate cash consideration of $1,246,490. Following the repurchase, 42,251,750
shares of Series A Preferred Stock remain outstanding. The Company funded the repurchase through cash on hand.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following Management’s Discussion and Analysis
of Financial Condition and Results of Operations should be read in conjunction with, and is qualified in its entirety by, the unaudited
consolidated financial statements and related notes thereto included in Item 1 in this Quarterly Report on Form 10-Q and with our audited
consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended May 31, 2023 filed
with the SEC on August 21, 2023. Our Management’s Discussion and Analysis of Financial Condition and Results of Operations contains
not only statements that are historical facts, but also statements that are forward-looking.
Although the forward-looking statements in this Quarterly
Report on Form 10-Q reflect the good faith judgment of our management, such statements can only be based on facts and factors currently
known by them. Consequently, and because forward-looking statements are inherently subject to risks and uncertainties, the actual
results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. You are urged to
carefully review and consider the various disclosures made by us in herein and in our other reports as we attempt to advise interested
parties of the risks and factors that may affect our business, financial condition, and results of operations and prospects. Please see
“Cautionary Note Regarding Forward-Looking Statements” in this Quarterly Report on Form 10-Q for additional information.
Overview
The Company is engaged in the manufacturing, marketing,
sale and distribution of high-tech, innovative hearing and audio enhancement and protection products that provide cutting-edge solutions
for people with varied applications across many industries and professional quality hair and skin care products under various trademarks
and brands.
As part of the Company’s
ongoing rebranding efforts, the Company changed its name from Reviv3 Procare Company to AXIL Brands, Inc. effective February 14, 2024.
On February 14, 2024, the Company successfully completed efforts to uplist (the “Uplist Transaction”) from the over-the-counter,
or OTC, markets to the NYSE American exchange (“NYSE American”).
On May 1, 2022, we entered into an Asset Purchase
Agreement dated May 1, 2022 and amended on June 15, 2022 and September 8, 2022 with AXIL & Associated Brands, a leader in hearing
protection and enhancement products, for the acquisition of both the hearing protection business of AXIL & Associated Brands
consisting of ear plugs and ear muffs, and AXIL & Associated Brands’ ear bud business. These businesses constituted substantially
all of the business operations of AXIL & Associated Brands. The acquisition was completed subsequently on June 16, 2022. On September
8, 2022, the Company and AXIL & Associated Brands entered into an amendment to the Asset Purchase Agreement which eliminated the provision
in the Asset Purchase Agreement requiring the Company to effectuate a reverse stock split of our common stock and preferred stock pursuant
to the Asset Purchase Agreement within a certain period of time.
Effective as of January 16, 2024, the Company filed a Certificate of
Amendment to the Company’s Amended and Restated Articles of Incorporation with the Delaware Secretary of State to implement the
reverse stock split of the Company’s issued shares of common stock at a ratio of 1-for-20 approved by the Board of Directors. The
reverse stock split did not affect the total number of shares of common stock that the Company is authorized to issue and any fractional
shares remaining after the Reverse Stock Split were rounded up to the nearest whole share. The accompanying financial statements and notes
to the financial statements give retroactive effect to the Reverse Stock Split for all periods presented, unless otherwise specified.
As a result of the acquisition
of AXIL & Associated Brands’ assets, the Company has two reportable segments: hair care and skin care, and hearing enhancement
and protection.
Through our hearing enhancement and protection segment,
we design, innovate, engineer, manufacture, market and service specialized systems in hearing enhancement, hearing protection, wireless
audio, and communication. Through our hair care and skin care segment, we manufacture, market, sell, and distribute professional quality
hair and skin care products.
The Company’s overall business strategy is to
establish market awareness of our products through our direct-to-consumer campaigns. We believe the increase in awareness will allow the
Company to increase distribution and gain customers through our distribution partners’ retail establishments, with the goal of helping
us achieve growth in market share and diversify our sales channels.
Results of Operations
Our results of operations are summarized below.
|
|
Nine Months Ended |
|
|
Three Months Ended |
|
|
|
February 29, 2024 |
|
|
February 28, 2023 |
|
|
February 29, 2024 |
|
|
February 28, 2023 |
|
Sales, net |
|
$ |
20,997,289 |
|
|
$ |
16,625,818 |
|
|
$ |
6,469,343 |
|
|
$ |
5,656,461 |
|
Cost of sales |
|
|
5,467,458 |
|
|
|
4,085,645 |
|
|
|
1,845,017 |
|
|
|
1,437,976 |
|
Gross profit |
|
|
15,529,831 |
|
|
|
12,540,173 |
|
|
|
4,624,326 |
|
|
|
4,218,485 |
|
Total operating expenses |
|
|
14,196,041 |
|
|
|
11,139,189 |
|
|
|
4,728,205 |
|
|
|
4,001,897 |
|
Income (Loss) from operations |
|
|
1,333,790 |
|
|
|
1,400,984 |
|
|
|
(103,879) |
|
|
|
216,588 |
|
Net income |
|
$ |
1,953,618 |
|
|
$ |
1,064,475 |
|
|
$ |
781,091 |
|
|
$ |
162,048 |
|
For the Nine Months Ended February 29, 2024
Compared to the Nine Months Ended February 28, 2023
Net sales for the nine months ended February 29, 2024 and February 28, 2023 were $20,997,289
and $16,625,818, respectively. Net sales for the nine months ended February 29, 2024 increased by $4,371,471 or 26.3%, as compared to
the nine months ended February 28, 2023. The increase was driven primarily by an increase in marketing campaign spend and strength in
our sales channels for the Company’s products.
Cost of sales primarily includes the cost of products and freight-in
costs. For the nine months ended February 29, 2024, the overall cost of sales increased by $1,381,813 or 33.8%, as compared to the comparable
period ended February 28, 2023, which was primarily due to the relative increase in sales of Company products. Cost of sales as a percentage
of net revenues for the nine months ended February 29, 2024 was 26.0% as compared to 24.6% for the comparable period in 2023. The marginal
increase in cost of sales, as a percentage of sales, was primarily attributable to higher transportation costs and lower margin product
sales. The Company will continue to work to increase efficiencies in procurement and logistics, as well as focus on enhanced production
capabilities.
Gross profit for the nine months ended February
29, 2024 and February 28, 2023 was $15,529,831 and $12,540,173, respectively. Gross profit as a percentage of sales for the nine months
ended February 29, 2024, was 74.0% as compared to 75.4% for the same comparable period in 2023. The decrease in the gross profit margin
for the nine months ended February 29, 2024 was primarily attributable to an increase in sales of lower margin products in both our segments,
partially offset by a decrease in discounts in our sales of AXIL products.
Operating expenses consisted of marketing and
selling expenses, compensation and related taxes, professional and consulting fees, and general and administrative costs. Operating expenses
increased by $3,056,852 or 27.4% from $11,139,189 for the nine months ended February 28, 2023 to $14,196,041 for the nine months ended
February 29, 2024. Operating expenses as a percentage of net sales for the nine months ended February 29, 2024 were 67.6% compared to
67.0% for the comparable period in 2023. Operating expenses increased primarily due to a net increase in advertising and marketing expenses
by $2,028,313 for expansion of current marketing campaigns and costs attributable to new product awareness, and a net increase of $891,181
for business general and administrative costs. The increase in general and administrative costs was primarily attributed to the increase
in public related costs associated with our Uplist Transaction. Additionally, there was an increase of $638,067 for professional and consulting
expenses to enhance existing business processes. This increase was partially
offset by the optimization of our workforce resulting in an overall reduction of $500,709 for compensation and related taxes for the nine
months ended February 29, 2024 as compared to the comparable period in 2023.
Income from operations for the nine months ended February 29, 2024
and February 28, 2023 was $1,333,790 and $1,400,984, respectively. The decrease in income from operations for the nine months ended February
29, 2024, of $67,194 or 4.8% compared to the nine months ended February 28, 2023, was primarily driven by the increase in professional
and compliance expenses due to the Uplist Transaction and an increase in sales of lower margin products.
For the nine months ended February 29, 2024 the provision for income
taxes amounted to a benefit of $397,054, that was related to the reversal of fiscal year ended May 31, 2023 income tax liability due to
filing of the federal and state tax returns, as well as additional net operating losses which can offset current year income tax liability.
In addition, there are remaining net operating losses that created a deferred tax asset which management believes are fully realizable.
Provision for income tax expense was $395,344 for the nine months ended February 28, 2023.
As a result of the above, we reported a net income
of $1,953,618 and $1,064,475, for the nine months ended February 29, 2024 and February 28, 2023, respectively, an increase of $889,143.
For the Three Months Ended February 29, 2024
Compared to the Three Months Ended February 28, 2023
Net sales for the three months ended February 29,
2024 and February 28, 2023 were $6,469,343 and $5,656,461, respectively. Net sales for the three months ended February 29, 2024
increased by $812,882 or 14.4%, as compared to the three months ended February 28, 2023, due to the increase in marketing campaign
spend and strength in our sales channels for AXIL products.
For the three months ended February 29, 2024, the
overall cost of sales increased by $407,041 or 28.3%, as compared to the three months ended February 28, 2023, which was also primarily
due to the relative increase in sales of the Company’s products. Cost of sales as a percentage of net revenues for the three months
ended February 29, 2024 was 28.5% as compared to 25.4% for the comparable period in 2023. The marginal increase in cost of sales, as a
percentage of sales, was primarily attributable to an increase in transportation costs. The Company will continue to work to
increase efficiencies in procurement and logistics.
Gross profit for the three months ended February
29, 2024 and 2023 was $4,624,326 and $4,218,485, respectively. Gross profit as a percentage of sales for the three months ended February
29, 2024, was 71.5% as compared to 74.6% for the comparable period in 2023. The decrease in the gross profit margin for the nine months
ended February 29, 2024 was primarily attributable to an increase in sales of lower margin products in both our segments, partially offset
by a decrease in discounts in our sales of AXIL products.
Operating expenses consisted of marketing and
selling expenses, compensation and related taxes, professional and consulting fees, and general and administrative costs. Operating expenses
increased by $726,308 or 18.1% from $4,001,897 in the three months ended February 28, 2023 to $4,728,205 in the three months ended February
29, 2024. Operating expenses as a percentage of net revenues for the three months ended February 29, 2024, were 73.1% compared to 70.7%
for the three months ended February 29, 2024. The increase in operating expenses related primarily to a net increase in advertising and
marketing expenses of $225,566 for expansion of current marketing campaigns and costs attributable to new product awareness, and a net
increase of $336,235 for professional and consulting expenses and to enhance
existing business processes. General and administrative costs increased by $296,440 primarily due to an increase in public related costs
associated with our Uplist Transaction. This increase was partially offset by the optimization of our workforce resulting in an overall
reduction of $131,933 for compensation and related taxes for the three months ended February 29, 2024 as compared to three months ended
February 28, 2023.
Loss from operations for the three months ended February 29, 2024 was
$103,879 compared to income of $216,588 for the three months ended February 28, 2023. The decrease in income from operations of $320,467
or (148.03%) was primarily related to the increase in operating costs related to our Uplist Transaction and expanded marketing campaign
as well as the increased sales of lower margin products partially offset by a decrease in discounts.
For the three months ended February 29, 2024 provision for income taxes
amounted to a benefit of $827,436 that was related to the reversal of fiscal year ended May 31, 2023 income tax liability due to filing
of the federal and state tax returns, as well as additional net operating losses which can offset current year income tax liability. In
addition, there are remaining net operating losses that created a deferred tax asset which management believes are fully realizable. For
the three months ended February 28, 2023, provision for income tax expense was $59,547.
As a result of the above, we reported a net income of $781,091 and
$162,048 for the three months ended February 29, 2024 and three months ended February 28, 2023, respectively, an increase of $619,043
or 382.0%.
Liquidity and Capital Resources
We are currently engaged
in product sales and development. Although we earned a net income in the nine months ended February 29, 2024, we have incurred operating
losses in the past. We currently expect to earn net income during the current fiscal year ending May 31, 2024. We believe our current
cash balances, coupled with anticipated cash flow from operating activities, will be sufficient to meet our working capital requirements
for at least one year from the date of issuance of the accompanying unaudited consolidated financial statements. We intend to continue
to control our cash expenses as a percentage of expected revenue on an annual basis and thus may use our cash balances in the short-term
to invest in revenue growth. As a result of the acquisition of AXIL & Associated Brands’ assets, we have generated and expect
we will continue to generate sufficient cash for our operational needs, including any required debt payments, for at least one year from
the date of issuance of the accompanying unaudited consolidated financial statements. Management is focused on growing the Company’s
existing product lines, introducing new products, as well as expanding 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, including those resulting from the purchase of AXIL & Associated
Brands’ assets in June 2022, may lead to cash utilization at levels greater than recently experienced. The Company cannot provide
any assurance that it will be able to raise additional capital or obtain necessary financing 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 unaudited consolidated financial statements.
Cash Flows
Operating Activities
Net cash provided by operating activities for the nine months ended
February 29, 2024 was $339,323, attributable to a net income of $1,953,618, items of adjustments to depreciation and amortization, bad
debts, gain on settlement, benefit for deferred income taxes and stock based compensation that total $87,894. There were favorable changes
in accounts payable and accrued expenses of $1,061,420 and prepaid expenses and other current assets of $145,032 offset primarily by an
increase of inventory of $2,131,429.
Net cash flows provided by operating activities for
the nine months ended February 28, 2023 was $2,319,976, attributable to net income of $1,064,475, depreciation and amortization of $66,944,
provision for bad debts of $13,782, stock based compensation expense of $155,067, gain on settlement of debt of $50,500, and net change
in operating assets and liabilities of $1,070,209 primarily due to an increase in accounts receivables, increase in prepaid expenses,
increase in security deposit offset by a decrease of inventory, an increase in accounts payable, increase in other current liabilities
and increase in contract liabilities.
Investing Activities
Net cash flows used in investing activities for the nine months ended
February 29, 2024 was $80,192 due to the purchase of property and equipment for the Company’s business. For the nine months ended
February 28, 2023, net cash flows provided were $1,000,764, attributable to the cash received from acquisition of the AXIL & Associated
Brands business and partially offset by the purchase of property and equipment of $65,650 during the same period.
Financing Activities
Net cash flows used in financing activities for the nine months ended
February 29, 2024 was $204,246, and were for repayment of equipment financing and note payable, and a prepayment made to a related party.
Net cash flows provided by financing activities for the nine months ended February 28, 2023, amounted to $485,861, primarily resulting
from the Company’s capital raise of $447,850 pursuant to a private placement of shares of common stock, including receipt of $63,008
in related party loans, and repayment of loans that totaled $24,997.
During the nine months ended February 29, 2024, the
Company has various financed items and has debt outstanding in order to run the Company’s business operations.
As of February 29, 2024, we had a secured Economic
Injury Disaster Loan outstanding, administered pursuant to the CARES Act in the principal amount of $147,150, with a maturity date of
May 18, 2050. The Company continues to pay interest on the loan.
We are dependent on our product sales to fund our
operations and may require additional capital in the future, such as pursuant to the sale of additional common stock or of debt securities
or entering into credit agreements or other borrowing arrangements with institutions or private individuals, to maintain operations, which
may not be available on favorable terms, or at all, and could require us to sell certain assets or discontinue or curtail our operations.
If the current equity and credit markets deteriorate, it may make any necessary debt or equity financing more difficult, more costly and
more dilutive. In addition, pursuant to a voting agreement, effective June 16, 2022, with AXIL & Associated Brands and Intrepid Global
Advisors, Inc., we are subject to certain limitations on our ability to sell our capital stock until June 2024. Our officers and directors
have made no written commitments with respect to providing a source of liquidity in the form of cash advances, loans, and/or financial
guarantees. We do not have any plans to seek additional financing at this time and anticipate that our existing cash equivalents and cash
provided by operations will be sufficient to meet our working capital requirements. However, if the need arises for additional cash, there
can be no assurance that we will be able to raise the capital we need for our operations on favorable terms, or at all. We may not be
able to obtain additional capital or generate sufficient revenues to fund our operations. Failure to secure any necessary financing in
a timely manner and on favorable terms could have a material adverse effect on our growth strategy, financial performance and stock price
and could require us to delay or abandon our business plans. If we are unsuccessful at raising sufficient funds, for whatever reason,
to fund our operations, we may be forced to cease operations. If we fail to raise funds, we expect that we will be required to seek protection
from creditors under applicable bankruptcy laws.
Off-Balance Sheet Arrangements
As of February 29, 2024, we do not have any off-balance
sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results or operations, liquidity, capital expenditures or capital resources that is material to investors.
Critical Accounting Policies
The preparation of condensed consolidated financial
statements in conformity with accounting principles generally accepted in the United States of America requires us to make a number of
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements. Such estimates and assumptions affect the reported amounts of expenses during the reporting period.
On an ongoing basis, we evaluate estimates and assumptions based upon historical experience and various other factors and circumstances.
We believe our estimates and assumptions are reasonable in the circumstances; however, actual results may differ from these estimates
under different future conditions.
We believe that the estimates and assumptions that
are most important to the portrayal of our financial condition and results of operations, in that they require the most difficult, subjective
or complex judgments, form the basis for the accounting policies deemed to be most critical to us. These critical accounting policies
relate to revenue recognition, impairment of intangible assets and long-lived assets, inventory, stock compensation, and evaluation of
contingencies. We believe estimates and assumptions related to these critical accounting policies are appropriate under the circumstances;
however, should future events or occurrences result in unanticipated consequences, there could be a material impact on our future financial
condition or results of operations.
See the footnotes to our unaudited consolidated financial
statements for the three and nine months ended February 29, 2024, included with this Quarterly Report on Form 10-Q
for additional discussion of our critical accounting policies and use of estimates.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
As a smaller reporting company, we are not required
to provide the information required by this Item 3.
ITEM 4. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
We maintain “disclosure controls and procedures,”
as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, that are designed to ensure that information required
to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC
rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer (“CEO”)
and Principal Executive Officer, and Chief Financial Officer (“CFO”) and Principal Financial and Accounting Officer, as appropriate,
to allow timely decisions regarding required disclosure. We conducted an evaluation, under the supervision and with the participation
of our CEO and CFO, of the effectiveness of the design and operation of our disclosure controls and procedures as of February 29, 2024.
Based on this evaluation of disclosure controls and procedures as of February 29, 2024, our CEO and CFO concluded that our disclosure
controls and procedures were not effective.
Internal Control over Financial Reporting
Our management is responsible for establishing and
maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f).
Our internal control over financial reporting is a process designed to provide reasonable assurance to our management and the Board regarding
the reliability of financial reporting and the preparation of the financial statements for external purposes in accordance with accounting
principles generally accepted in the United States of America. Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk
that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures
may deteriorate.
Our management, including our CEO and CFO, assessed
the effectiveness of our internal control over financial reporting as of February 29, 2024 using criteria set forth by the Committee of
Sponsoring Organizations of the Treadway Commission Internal Control-Integrated Framework issued in 2013. Based on the assessment,
our management has concluded that as of February 29, 2024, our internal control over financial reporting was not effective based on those
criteria.
Remediation
The Company plans to initiate measures to improve the effectiveness
of the internal controls over financial reporting and disclosure controls and procedures. We are working with a third-party to enhance
the reporting in our accounting systems, as well as increase the level of review when any non-routine accounting entry is proposed. The
Company hired additional accounting personnel during the period ended February 29, 2024, to oversee the financial close and reporting
process. The Company plans to hire additional staff to aid in segregation of duties to continue to improve our internal controls in the
coming fiscal year. We have also started to develop an internal control structure and identify key procedures for financial reporting
as required by Section 404 of the Sarbanes-Oxley Act of 2002 and we are currently in the process of documenting our internal control policies
and procedures. During the period ended February 29, 2024 we adopted written policies and procedures that were distributed to employees
for review and approval by the Board, and we anticipate will be fully implemented during the fiscal year ending May 31, 2024. In addition,
the Company has adopted controls related to corporate governance, including a Code of Business Conduct and Ethics that applies to all
of our employees, including our CEO and CFO, and to the Board.
Changes in Internal Control over Financial Reporting
Other than as described under “Remediation”
above, there has been no change in our internal control over financial reporting identified in connection with the evaluation required
by Rules 13a-15(d) or 15d-15(d) under the Exchange Act that occurred during the fiscal quarter ended February 29, 2024 that has materially
affected or is reasonably likely to materially affect our internal control over financial reporting. Our management is currently taking
corrective action to remedy the internal control weaknesses. See section entitled “Remediation” above.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
From time to time, we may become involved in various lawsuits and legal
proceedings which arise in the ordinary course of business. While the ultimate resolution is unknown, we do not expect that these lawsuits
will individually, or in the aggregate, have a material adverse effect to our results of operations, financial condition, or cash flows.
However, the outcome of any litigation is inherently uncertain and there can be no assurance that any expense, liability, or damages that
may ultimately result from the resolution of these matters will be covered by our insurance or will not be in excess of amounts recognized
or provided by insurance coverage and will have a material adverse effect on our business, operating results, financial condition, or
cash flows.
Where it is probable that we will incur a loss and the amount of the
loss can be reasonably estimated, we record a liability in our financial statements. In evaluating matters for accrual and disclosure
purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and
circumstances asserted, the likelihood of our prevailing, the availability of insurance, and the severity of any potential loss. We reevaluate
and update accruals as matters progress over time. These legal accruals may be increased or decreased to reflect any relevant developments
on a quarterly basis. Where a loss is not probable or the amount of the loss is not estimable, we do not record an accrual, consistent
with applicable accounting guidance. In the opinion of management, while the outcome of such claims and disputes cannot be predicted with
certainty, our ultimate liability in connection with these matters is not expected to have a material adverse effect on our results of
operations, financial position or cash flows, and the amounts accrued for any individual matter are not material. However, legal proceedings
are inherently uncertain. As a result, the outcome of a particular matter or a combination of matters may be material to our results of
operations for a particular period, depending upon the size of the loss or our income for that particular period.
ITEM 1A. RISK FACTORS
As a smaller reporting company, we are not required
to provide the information required by this Item 1A.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES
AND USE OF PROCEEDS
None during the third quarter.
On March 5, 2024, the Board approved and the
Company entered into repurchase agreements with certain stockholders of the Company to purchase in the aggregate 207,748,250 shares of
Series A Preferred Stock of the Company (equivalent, in aggregate, to 10,387,413 shares of the Company’s common stock
on an as converted basis) for the aggregate cash consideration of $1,246,489.50. Following the repurchase, 42,251,750 shares of Series
A Preferred Stock remained outstanding. The Company funded the repurchase through cash on hand.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
ITEM 5. OTHER INFORMATION
(a) Not applicable.
(b) None.
(c) During the quarter ended February 29, 2024, no director or officer of the Company
adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,”
as each term is defined in Item 408(a) of Regulation S-K.
ITEM 6. EXHIBITS
Exhibit |
|
|
|
Filed |
|
Furnished |
Number |
|
Exhibit Description |
|
herewith |
|
herewith |
3.1 |
|
Amended and Restated Certificate of Incorporation (incorporated herein by reference to Exhibit 3.3 to the Company’s Registration Statement on Form S-1 filed with the SEC on October 6, 2017). |
|
|
|
|
3.2 |
|
Certificate of Amendment to the Amended and Restated Certificate of Incorporation (incorporated herein by reference to Exhibit 3.3 to the Company’s Annual Report on Form 10-K filed with the SEC on August 25, 2022). |
|
|
|
|
3.3 |
|
Certificate of Amendment to the Amended and Restated Certificate of Incorporation, effective as of January 16, 2024 (incorporated herein by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on January 16, 2024). |
|
|
|
|
3.4 |
|
Certificate of Amendment to the Amended and Restated Certificate of Incorporation, effective as of February 14, 2024 (incorporated herein by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on February 12, 2024). |
|
|
|
|
3.5 |
|
Bylaws (incorporated herein by reference to Exhibit 3.2 to the Company’s Registration Statement on Form S-1 filed with the SEC on October 6, 2017). |
|
|
|
|
3.6 |
|
Amendment to the Bylaws, effective as of February 14, 2024 (incorporated herein by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed with the SEC on February 12, 2024). |
|
|
|
|
10.1* |
|
First Amendment to the 2022 Equity Incentive Plan of Reviv3 Procare Company, effective as of February 14, 2024 (incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on February 15, 2024). |
|
|
|
|
10.2 |
|
Repurchase Agreement, dated March 5, 2024, by and between AXIL Brands, Inc. and Teton 360, LLC (incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on March 11, 2024). |
|
|
|
|
10.3 |
|
Repurchase Agreement, dated March 5, 2024, by and between AXIL Brands, Inc. and L Grant Foster TTEE - The Williams Family Irrevocable Trust (incorporated herein by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on March 11, 2024). |
|
|
|
|
31.1 |
|
Certification
of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|
X |
|
|
31.2 |
|
Certification
of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|
X |
|
|
32.1 |
|
Certification
of the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|
|
|
X |
32.2 |
|
Certification
of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|
|
|
X |
101 |
|
The following unaudited condensed consolidated financial statements from the Quarterly Report on Form 10-Q for the quarter ended February 29, 2024 are formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) Balance Sheets, (ii) Statements of Operations, (iii) Statements of Changes in Stockholders’ Equity, (iv) Statements of Cash Flows, and (v) the Notes to Financial Statements. |
|
X |
|
|
104 |
|
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
|
X |
|
|
* Management compensatory plan or arrangement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
AXIL BRANDS, INC. |
|
|
|
Date: April 9, 2024 |
|
|
|
|
|
|
By: |
/s/ Jeff Toghraie |
|
|
Jeff Toghraie |
|
|
Chief Executive Officer |
|
|
(Principal Executive Officer) |
|
|
|
|
By: |
/s/ Monica Diaz Brickell |
|
|
Monica Diaz Brickell |
|
|
Chief Financial Officer |
|
|
(Principal Financial Officer and Principal Accounting Officer) |
EXHIBIT 31.1
CERTIFICATION PURSUANT
TO RULE 13a-14(a)/15d-14(a), AS ADOPTED
PURSUANT TO SECTION 302
OF THE SARBANES-OXLEY ACT OF 2002
I, Jeff Toghraie, certify that:
1. |
I have reviewed this Quarterly Report on Form
10-Q of Axil Brands, Inc.; |
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. |
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
|
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
|
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. |
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
|
(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
|
(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
|
|
|
|
|
|
|
|
|
|
|
Date: April 9, 2024 |
|
|
|
|
|
By: |
|
/s/ Jeff Toghraie |
|
|
|
|
|
|
|
|
Name:
Title: |
|
Jeff Toghraie
Chief Executive Officer
(Principal Executive Officer) |
EXHIBIT 31.2
CERTIFICATION
PURSUANT TO RULE 13a-14(a)/15d-14(a), AS ADOPTED
PURSUANT TO SECTION
302 OF THE SARBANES-OXLEY ACT OF 2002
I, Monica Diaz Brickell, certify that:
1. |
I have reviewed this Quarterly Report on Form 10-Q of Axil Brands, Inc.; |
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. |
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
|
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
|
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. |
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
|
(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
|
(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
|
|
|
|
|
|
|
|
|
|
Date: April 9, 2024 |
|
|
|
|
By: |
|
/s/ Monica Diaz Brickell |
|
|
|
|
|
|
|
Name:
Title: |
|
Monica Diaz Brickell
Chief Financial Officer
(Principal Financial Officer and Principal Accounting Officer)
|
EXHIBIT 32.1
CERTIFICATION PURSUANT
TO 18 U.S.C. SECTION 1350, AS ADOPTED
PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly
Report on Form 10-Q of Axil Brands, Inc. (the “Company”) for the quarter ended February 29, 2024 (the
“Report”), I, Jeff Toghraie, Chief Executive Officer, certify as follows:
| A) | the Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities
Exchange Act of 1934, as amended (15 U.S.C. 78m or 78o(d)), and |
| B) | the information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Company as of the dates and for the periods covered by the Report. |
This statement is authorized to be attached
as an exhibit to the Report so that this statement will accompany the Report at such time as the Report is filed with the Securities and
Exchange Commission, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. Pursuant to Securities and Exchange
Commission Release 33-8238, dated June 5, 2003, this certification is being furnished and shall not be deemed filed by the Company for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any registration statement
of the Company filed under Securities Act of 1933, as amended, except to the extent that the Company specifically incorporates it by reference.
A signed original of this written statement by Section 906 has been provided to the Company and will be retained by the Company and furnished
to the Securities and Exchange Commission or its staff upon request.
|
|
|
|
|
|
|
|
|
|
Date: April 9, 2024 |
|
|
|
|
By: |
|
/s/ Jeff Toghraie |
|
|
|
|
|
|
|
Name:
Title: |
|
Jeff Toghraie
Chief Executive Officer
(Principal Executive Officer) |
EXHIBIT 32.2
CERTIFICATION PURSUANT
TO 18 U.S.C. SECTION 1350, AS ADOPTED
PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly
Report on Form 10-Q of Axil Brands, Inc. (the “Company”) for the quarter ended February 29, 2024 (the
“Report”), I, Monica Diaz Brickell, Chief Financial Officer, certify as follows:
| A) | the Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities
Exchange Act of 1934, as amended (15 U.S.C. 78m or 78o(d)), and |
| B) | the information contained in the Report fairly presents, in all material respects, the financial condition
and results of operations of the Company as of the dates and for the periods covered by the Report. |
This statement is authorized to be attached
as an exhibit to the Report so that this statement will accompany the Report at such time as the Report is filed with the Securities and
Exchange Commission, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. Pursuant to Securities and Exchange
Commission Release 33-8238, dated June 5, 2003, this certification is being furnished and shall not be deemed filed by the Company for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any registration statement
of the Company filed under Securities Act of 1933, as amended, except to the extent that the Company specifically incorporates it by reference.
A signed original of this written statement by Section 906 has been provided to the Company and will be retained by the Company and furnished
to the Securities and Exchange Commission or its staff upon request.
|
|
|
|
|
|
|
|
|
|
Date: April 9, 2024 |
|
|
|
|
By: |
|
/s/ Monica Diaz Brickell |
|
|
|
|
|
|
|
Name:
Title: |
|
Monica Diaz Brickell
Chief Financial Officer
(Principal Financial Officer and Principal Accounting Officer) |
v3.24.1.u1
Cover - shares
|
9 Months Ended |
|
Feb. 29, 2024 |
Apr. 09, 2024 |
Cover [Abstract] |
|
|
Document Type |
10-Q
|
|
Amendment Flag |
false
|
|
Document Quarterly Report |
true
|
|
Document Transition Report |
false
|
|
Document Period End Date |
Feb. 29, 2024
|
|
Document Fiscal Period Focus |
Q3
|
|
Document Fiscal Year Focus |
2024
|
|
Current Fiscal Year End Date |
--05-31
|
|
Entity File Number |
001-41958
|
|
Entity Registrant Name |
AXIL Brands, Inc.
|
|
Entity Central Index Key |
0001718500
|
|
Entity Tax Identification Number |
47-4125218
|
|
Entity Incorporation, State or Country Code |
DE
|
|
Entity Address, Address Line One |
901 Fremont Avenue
|
|
Entity Address, Address Line Two |
Unit 158
|
|
Entity Address, City or Town |
Alhambra
|
|
Entity Address, State or Province |
CA
|
|
Entity Address, Postal Zip Code |
91803
|
|
City Area Code |
(888)
|
|
Local Phone Number |
638-8883
|
|
Title of 12(b) Security |
Common Stock, $0.0001 par value per share
|
|
Trading Symbol |
AXIL
|
|
Security Exchange Name |
NYSE
|
|
Entity Current Reporting Status |
Yes
|
|
Entity Interactive Data Current |
Yes
|
|
Entity Filer Category |
Non-accelerated Filer
|
|
Entity Small Business |
true
|
|
Entity Emerging Growth Company |
false
|
|
Entity Shell Company |
false
|
|
Entity Common Stock, Shares Outstanding |
|
5,878,939
|
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
+ References
+ Details
Name: |
dei_CurrentFiscalYearEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gMonthDayItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.
+ References
+ Details
Name: |
dei_DocumentFiscalPeriodFocus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fiscalPeriodItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
+ References
+ Details
Name: |
dei_DocumentFiscalYearFocus |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gYearItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true only for a form used as an quarterly report.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form 10-Q -Number 240 -Section 308 -Subsection a
+ Details
Name: |
dei_DocumentQuarterlyReport |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true only for a form used as a transition report.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Forms 10-K, 10-Q, 20-F -Number 240 -Section 13 -Subsection a-1
+ Details
Name: |
dei_DocumentTransitionReport |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 2 such as Street or Suite number
+ References
+ Details
Name: |
dei_EntityAddressAddressLine2 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
+ References
+ Details
Name: |
dei_EntityCommonStockSharesOutstanding |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionIndicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
+ Details
Name: |
dei_EntityCurrentReportingStatus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityFilerCategory |
Namespace Prefix: |
dei_ |
Data Type: |
dei:filerCategoryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-T -Number 232 -Section 405
+ Details
Name: |
dei_EntityInteractiveDataCurrent |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityShellCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicates that the company is a Smaller Reporting Company (SRC).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntitySmallBusiness |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
|
Feb. 29, 2024 |
May 31, 2023 |
CURRENT ASSETS: |
|
|
Cash |
$ 4,887,567
|
$ 4,832,682
|
Accounts receivable, net |
719,504
|
417,016
|
Inventory, net |
3,443,293
|
1,311,864
|
Due from related party |
18,536
|
|
Prepaid expenses and other current assets |
656,328
|
801,360
|
Deferred tax asset |
234,161
|
|
Total Current Assets |
9,959,389
|
7,362,922
|
OTHER ASSETS: |
|
|
Property and equipment, net |
212,146
|
157,463
|
Intangible assets, net |
324,549
|
382,674
|
Right of use asset |
53,224
|
101,845
|
Other assets |
12,195
|
12,195
|
Goodwill |
2,152,215
|
2,152,215
|
Total Other Assets |
2,754,329
|
2,806,392
|
TOTAL ASSETS |
12,713,718
|
10,169,314
|
CURRENT LIABILITIES: |
|
|
Accounts payable |
1,890,844
|
908,606
|
Customer deposits |
37,140
|
183,688
|
Equipment payable, current |
|
2,200
|
Contract liabilities, current |
880,450
|
827,106
|
Notes payable, current |
3,310
|
172,588
|
Due to related party |
|
158,072
|
Lease Liability, current |
54,322
|
65,824
|
Income Tax Liability |
68,019
|
230,913
|
Other current liabilities |
307,794
|
305,664
|
Total Current Liabilities |
3,241,879
|
2,854,661
|
LONG TERM LIABILITIES: |
|
|
Notes payable, long term |
143,840
|
|
Lease liability, long term |
|
36,752
|
Contract liabilities, long term |
541,108
|
605,942
|
Total Long Term Liabilities |
684,948
|
642,694
|
Total Liabilities |
3,926,827
|
3,497,355
|
Commitments and contingencies (see Note 11) |
|
|
STOCKHOLDERS' EQUITY: |
|
|
Preferred stock, $0.0001 par value; 300,000,000 shares authorized; 250,000,000 shares issued and outstanding as of February 29, 2024 and May 31, 2023, respectively |
25,000
|
25,000
|
Common stock, $0.0001 par value: 450,000,000 shares authorized; 5,878,939 and 5,863,939 shares issued, and outstanding as of February 29, 2024 and May 31, 2023, respectively |
588
|
586
|
Additional paid-in capital |
10,274,677
|
10,113,365
|
Accumulated deficit |
(1,513,374)
|
(3,466,992)
|
Total Stockholders' Equity |
8,786,891
|
6,671,959
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ 12,713,718
|
$ 10,169,314
|
X |
- References
+ Details
Name: |
axil_CustomerDepositCurrent |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_DeferredTaxAssets |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_EquipmentFinancingPayableCurrent |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionCarrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_AccountsPayableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 310 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480833/946-310-45-1
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(5)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 310 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481058/954-310-45-1
+ Details
Name: |
us-gaap_AccountsReceivableNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of excess of issue price over par or stated value of stock and from other transaction involving stock or stockholder. Includes, but is not limited to, additional paid-in capital (APIC) for common and preferred stock.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)(a)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_AdditionalPaidInCapital |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(12)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(8)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 26: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(11)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
+ Details
Name: |
us-gaap_Assets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
+ Details
Name: |
us-gaap_AssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_AssetsCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
+ Details
Name: |
us-gaap_AssetsNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_AssetsNoncurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-4
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(15)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommitmentsAndContingencies |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as current.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479837/606-10-45-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-8
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479837/606-10-45-2
+ Details
Name: |
us-gaap_ContractWithCustomerLiabilityCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as noncurrent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479837/606-10-45-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-8
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479837/606-10-45-2
+ Details
Name: |
us-gaap_ContractWithCustomerLiabilityNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 926 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483154/926-20-50-5
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482548/350-20-55-24
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(15)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482598/350-20-45-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
+ Details
Name: |
us-gaap_Goodwill |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InventoryNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(14)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 21: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 22: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19-26) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_Liabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(32)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_LiabilitiesAndStockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionTotal obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-5
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 21: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.21) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_LiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_LiabilitiesCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of obligation due after one year or beyond the normal operating cycle, if longer.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 20: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 21: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 201.5-02(24)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 22: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 201.5-02(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 23: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 201.5-02(26)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_LiabilitiesNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_LiabilitiesNoncurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionSum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_NotesPayableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease, classified as current.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiabilityCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiabilityNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's right to use underlying asset under operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseRightOfUseAsset |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of assets classified as other.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(10)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(17)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
+ Details
Name: |
us-gaap_OtherAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of liabilities classified as other, due within one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_OtherLiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of long-term notes classified as other, payable after one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_OtherLongTermNotesPayable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PrepaidExpenseAndOtherAssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 360 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480842/942-360-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of accumulated undistributed earnings (deficit).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-11
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(23)(a)(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(17)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)(a)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 4.E) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares
|
Feb. 29, 2024 |
May 31, 2023 |
Statement of Financial Position [Abstract] |
|
|
Preferred stock, par value |
$ 0.0001
|
$ 0.0001
|
Preferred stock, shares authorized |
300,000,000
|
300,000,000
|
Preferred stock, shares issued |
250,000,000
|
250,000,000
|
Preferred stock, shares outstanding |
250,000,000
|
250,000,000
|
Common stock, par value |
$ 0.0001
|
$ 0.0001
|
Common stock, shares authorized |
450,000,000
|
450,000,000
|
Common stock, shares issued |
5,878,939
|
5,863,939
|
Common stock, shares outstanding |
5,878,939
|
5,863,939
|
X |
- DefinitionFace amount or stated value per share of common stock.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StatementOfFinancialPositionAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
|
3 Months Ended |
9 Months Ended |
Feb. 29, 2024 |
Feb. 28, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
Income Statement [Abstract] |
|
|
|
|
Sales, net |
$ 6,469,343
|
$ 5,656,461
|
$ 20,997,289
|
$ 16,625,818
|
Cost of sales |
1,845,017
|
1,437,976
|
5,467,458
|
4,085,645
|
Gross profit |
4,624,326
|
4,218,485
|
15,529,831
|
12,540,173
|
OPERATING EXPENSES: |
|
|
|
|
Sales and marketing |
3,398,949
|
3,173,383
|
10,278,570
|
8,250,257
|
Compensation and related taxes |
228,869
|
360,802
|
713,504
|
1,214,213
|
Professional and consulting |
552,922
|
216,687
|
1,471,025
|
832,958
|
General and administrative |
547,465
|
251,025
|
1,732,942
|
841,761
|
Total Operating Expenses |
4,728,205
|
4,001,897
|
14,196,041
|
11,139,189
|
(LOSS) INCOME FROM OPERATIONS |
(103,879)
|
216,588
|
1,333,790
|
1,400,984
|
OTHER INCOME (EXPENSE): |
|
|
|
|
Gain on debt settlement |
|
|
79,182
|
50,500
|
Other income |
6,114
|
|
19,138
|
|
Interest income |
52,915
|
6,721
|
129,233
|
13,262
|
Interest expense and other finance charges |
(1,495)
|
(1,714)
|
(4,779)
|
(4,927)
|
Other Income, Net |
57,534
|
5,007
|
222,774
|
58,835
|
(LOSS) INCOME BEFORE PROVISION FOR INCOME TAXES |
(46,345)
|
221,595
|
1,556,564
|
1,459,819
|
(Benefit) Provision for income taxes |
(827,436)
|
59,547
|
(397,054)
|
395,344
|
NET INCOME |
$ 781,091
|
$ 162,048
|
$ 1,953,618
|
$ 1,064,475
|
NET INCOME PER COMMON SHARE: |
|
|
|
|
Basic |
$ 0.13
|
$ 0.03
|
$ 0.33
|
$ 0.19
|
Diluted |
$ 0.04
|
$ 0.01
|
$ 0.11
|
$ 0.06
|
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: |
|
|
|
|
Basic |
5,863,939
|
5,849,501
|
5,863,939
|
5,574,312
|
Diluted |
18,576,914
|
18,629,501
|
18,569,140
|
17,497,737
|
X |
- References
+ Details
Name: |
axil_GainOnDebtSettlement |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of expense for award under share-based payment arrangement. Excludes amount capitalized.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(1)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_AllocatedShareBasedCompensationExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 924 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 11.L) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a),(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_CostOfGoodsAndServicesSold |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-10
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(27)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-7
+ Details
Name: |
us-gaap_EarningsPerShareBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(27)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-7
+ Details
Name: |
us-gaap_EarningsPerShareDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_GeneralAndAdministrativeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 19: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1,2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_GrossProfit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_IncomeStatementAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of the cost of borrowed funds accounted for as interest expense.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-3
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (210.5-03(11)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483013/835-20-50-1
+ Details
Name: |
us-gaap_InterestExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of interest income earned from interest bearing assets classified as other.
+ References
+ Details
Name: |
us-gaap_InterestIncomeOther |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-6
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-7
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(1)(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 32: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483499/205-20-50-7
Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 36: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B
Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetIncomeLossAvailableToCommonStockholdersOperationsBasicAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.7) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_NonoperatingIncomeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NonoperatingIncomeExpenseAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionGenerally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
+ References
+ Details
Name: |
us-gaap_OperatingExpenses |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OperatingExpensesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe net result for the period of deducting operating expenses from operating revenues.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
+ Details
Name: |
us-gaap_OperatingIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations.
+ References
+ Details
Name: |
us-gaap_OtherOperatingIncomeExpenseNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionA fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-3
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
+ Details
Name: |
us-gaap_ProfessionalFees |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40
Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-05(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1
+ Details
Name: |
us-gaap_Revenues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate total amount of expenses directly related to the marketing or selling of products or services.
+ References
+ Details
Name: |
us-gaap_SellingAndMarketingExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 16 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-16
+ Details
Name: |
us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-10
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
CONSOLIDATED 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, 2022 |
|
$ 211
|
$ 5,476,068
|
$ (5,291,567)
|
$ 184,712
|
Beginning balance, shares at May. 31, 2022 |
|
2,107,385
|
|
|
|
Shares issued for acquisition of business |
$ 25,000
|
$ 366
|
3,982,115
|
|
4,007,481
|
Shares issued for acquisition of business, shares |
250,000,000
|
3,659,195
|
|
|
|
Stock options expense |
|
|
155,067
|
|
155,067
|
Shares to be issued for cash |
|
$ 9
|
447,840
|
|
447,849
|
Shares to be issued for cash, shares |
|
97,359
|
|
|
|
Net income |
|
|
|
1,064,475
|
1,064,475
|
Ending balance, value at Feb. 28, 2023 |
$ 25,000
|
$ 586
|
10,061,090
|
(4,227,092)
|
5,859,584
|
Ending balance, shares at Feb. 28, 2023 |
250,000,000
|
5,863,939
|
|
|
|
Beginning balance, value at Nov. 30, 2022 |
$ 25,000
|
$ 583
|
9,910,371
|
(4,389,140)
|
5,546,814
|
Beginning balance, shares at Nov. 30, 2022 |
250,000,000
|
5,837,899
|
|
|
|
Stock options expense |
|
|
30,922
|
|
30,922
|
Shares to be issued for cash |
|
$ 3
|
119,797
|
|
119,800
|
Shares to be issued for cash, shares |
|
26,040
|
|
|
|
Net income |
|
|
|
162,048
|
162,048
|
Ending balance, value at Feb. 28, 2023 |
$ 25,000
|
$ 586
|
10,061,090
|
(4,227,092)
|
5,859,584
|
Ending balance, shares at Feb. 28, 2023 |
250,000,000
|
5,863,939
|
|
|
|
Beginning balance, value at May. 31, 2023 |
$ 25,000
|
$ 586
|
10,113,365
|
(3,466,992)
|
6,671,959
|
Beginning balance, shares at May. 31, 2023 |
250,000,000
|
5,863,939
|
|
|
|
Stock options expense |
|
|
153,320
|
|
153,320
|
Restricted stock awards |
|
$ 2
|
7,992
|
|
7,994
|
Restricted stock awards, shares |
|
15,000
|
|
|
|
Net income |
|
|
|
1,953,618
|
1,953,618
|
Ending balance, value at Feb. 29, 2024 |
$ 25,000
|
$ 588
|
10,274,677
|
(1,513,374)
|
8,786,891
|
Ending balance, shares at Feb. 29, 2024 |
250,000,000
|
5,878,939
|
|
|
|
Beginning balance, value at Nov. 30, 2023 |
$ 25,000
|
$ 586
|
10,215,580
|
(2,294,465)
|
7,946,701
|
Beginning balance, shares at Nov. 30, 2023 |
250,000,000
|
5,863,939
|
|
|
|
Stock options expense |
|
|
51,105
|
|
51,105
|
Restricted stock awards |
|
$ 2
|
7,992
|
|
7,994
|
Restricted stock awards, shares |
|
15,000
|
|
|
|
Net income |
|
|
|
781,091
|
781,091
|
Ending balance, value at Feb. 29, 2024 |
$ 25,000
|
$ 588
|
$ 10,274,677
|
$ (1,513,374)
|
$ 8,786,891
|
Ending balance, shares at Feb. 29, 2024 |
250,000,000
|
5,878,939
|
|
|
|
X |
- References
+ Details
Name: |
axil_SharesToBeIssuedForCash |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_SharesToBeIssuedForCashShares |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-6
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-7
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(1)(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 32: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483499/205-20-50-7
Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 36: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B
Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares issued which are neither cancelled nor held in the treasury.
+ References
+ Details
Name: |
us-gaap_SharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares of stock issued during the period pursuant to acquisitions.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesAcquisitions |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTotal number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionValue of stock issued pursuant to acquisitions during the period.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodValueAcquisitions |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAggregate value of stock related to Restricted Stock Awards issued during the period.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of noncash expense for option under share-based payment arrangement.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_StockOptionPlanExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 4.E) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.24.1.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
|
9 Months Ended |
Feb. 29, 2024 |
Feb. 28, 2023 |
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
Net income |
$ 1,953,618
|
$ 1,064,475
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
Depreciation and amortization |
83,634
|
66,944
|
Bad debts |
143,395
|
13,782
|
Stock based compensation |
161,314
|
155,067
|
Gain on settlement |
(79,182)
|
(50,500)
|
Provision (benefit) for deferred income taxes |
(397,054)
|
|
Change in operating assets and liabilities: |
|
|
Accounts receivable |
(445,883)
|
(134,622)
|
Inventory |
(2,131,429)
|
297,213
|
Prepaid expenses and other current assets |
145,032
|
(296,787)
|
Deposits |
|
(3,810)
|
Accounts payable and accrued expenses |
1,061,420
|
87,879
|
Other current liabilities |
(144,052)
|
860,973
|
Contract liabilities |
(11,490)
|
259,362
|
NET CASH PROVIDED BY OPERATING ACTIVITIES |
339,323
|
2,319,976
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
Cash acquired on business acquisition |
|
1,066,414
|
Purchases of property and equipment |
(80,192)
|
(65,650)
|
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES |
(80,192)
|
1,000,764
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
Cash raised for common stock to be issued |
|
447,850
|
Repayment of equipment financing |
(2,200)
|
(2,200)
|
Repayment of note payable |
(25,438)
|
(22,797)
|
Advances (repayments) to/from a related party |
(176,608)
|
63,008
|
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES |
(204,246)
|
485,861
|
NET INCREASE IN CASH |
54,885
|
3,806,601
|
CASH - Beginning of period |
4,832,682
|
373,731
|
CASH - End of period |
4,887,567
|
4,180,332
|
Cash paid during the period for: |
|
|
Interest |
4,681
|
3,173
|
Income taxes |
|
|
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
Stock issued for asset purchase agreement |
|
4,007,480
|
Right of use assets recognized as lease liability |
|
131,970
|
Tangible assets (excluding cash) acquired in business combination |
|
1,740,729
|
Intangible assets acquired in business combination |
|
456,945
|
Goodwill acquired in business combination |
|
2,152,215
|
Liabilities assumed in business combination |
|
$ 1,408,823
|
X |
- References
+ Details
Name: |
axil_CashAcquiredOnBusinessAcquisition |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_CashPaidDuringPeriodForAbstract |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_CashRaisedForCommonStockToBeIssued |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_GoodwillAcquiredInAssetPurchaseAgreement |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_IntangibleAssetsAcquiredInAssetPurchaseAgreement |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_LiabilitiesAssumedInAssetPurchaseAgreement |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_RepaymentOfEquipmentFinancing |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_RightOfUseAssetsRecognizedAsLeaseLiability |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_StockIssuedForAssetPurchaseAgreement |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_TangibleAssetsExcludingCashAcquiredInAssetPurchaseAgreement |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-8
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-4
+ Details
Name: |
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of increase (decrease) in cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; excluding effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 1 -SubTopic 230 -Topic 830 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481877/830-230-45-1
+ Details
Name: |
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_DepreciationAndAmortization |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionDifference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481303/470-50-40-2
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481303/470-50-40-4
+ Details
Name: |
us-gaap_GainsLossesOnExtinguishmentOfDebt |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsReceivable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 912 -SubTopic 310 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482312/912-310-45-11
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInContractWithCustomerLiability |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in moneys or securities given as security including, but not limited to, contract, escrow, or earnest money deposits, retainage (if applicable), deposits with clearing organizations and others, collateral, or margin deposits.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInDepositOtherAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInInventories |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_IncreaseDecreaseInOperatingCapitalAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of increase (decrease) in current liabilities classified as other.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInOtherCurrentLiabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of increase (decrease) in prepaid expenses, and assets classified as other.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 17 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-17
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-2
+ Details
Name: |
us-gaap_InterestPaidNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-25
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-6
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-7
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(1)(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 32: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483499/205-20-50-7
Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 36: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B
Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 13 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-13
+ Details
Name: |
us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of expense (reversal of expense) for expected credit loss on accounts receivable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_ProvisionForDoubtfulAccounts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow for a borrowing supported by a written promise to pay an obligation.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-15
+ Details
Name: |
us-gaap_RepaymentsOfNotesPayable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of noncash expense for share-based payment arrangement.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_ShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.u1
Organization
|
9 Months Ended |
Feb. 29, 2024 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
Organization |
Note 1 – Organization
As part of the Company’s ongoing rebranding efforts, the Company changed its name
from Reviv3 Procare Company (“Reviv3”) to AXIL Brands, Inc. effective February 14, 2024. Reviv3 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 has moved its
corporate headquarters to 901 Fremont Avenue, Unit 158, Alhambra, California 91803. In March 2022, the Company incorporated a subsidiary
“Reviv3 Acquisition Corporation” and in June 2022, completed the asset acquisition of the Axil & Associated Brand Corp.
(“Axil & Associated Brands”) business. The Company is now engaged in the manufacturing, marketing, sale and distribution
of high-tech hearing and audio innovations that provide cutting edge solutions for consumers, with varied applications across many industries;
as well as professional quality hair and skin care products. These product lines are both sold throughout the United States, Canada, Europe
and Asia. On February 14, 2024, the Company successfully completed efforts to uplist from the over-the-counter, or OTC, markets to the
NYSE American exchange (“NYSE American”).
|
X |
- References
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480424/946-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480424/946-10-50-2
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//810/tableOfContent
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205/tableOfContent
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Basis of Presentation and Summary of Significant Accounting Policies
|
9 Months Ended |
Feb. 29, 2024 |
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 and Principles of Consolidation
The accompanying unaudited consolidated financial statements have been
prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion
of the management, all adjustments necessary to present fairly our financial position, results of operations, and cash flows as of February
29, 2024, and February 28, 2023, 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 consolidated financial statements prepared in accordance with
generally accepted accounting principles have been omitted. The unaudited consolidated financial statements should be read in conjunction
with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended
May 31, 2023. The results of operations for the three and nine months ended February 29, 2024 are not necessarily indicative of the results
to be expected for the fiscal year ending 2024. The unaudited consolidated financial statements include the Company and its wholly owned
subsidiary. All significant intercompany balances and transactions have been eliminated upon consolidation.
Reverse Stock Split
Effective as of January 16, 2024, the Company filed a Certificate of
Amendment to the Company’s Amended and Restated Articles of Incorporation with the Delaware Secretary of State to implement a reverse
stock split (the “Reverse Stock Split”) of the Company’s issued shares of common stock at a ratio of 1-for-20 approved
by the Company’s Board of Directors (the “Board”). The Reverse Stock Split does not affect the total number of shares
of common stock that the Company is authorized to issue and any fractional shares remaining after the Reverse Stock Split were rounded
up to the nearest whole share. The accompanying financial statements and notes to the financial statements give retroactive effect to
the Reverse Stock Split for all periods presented, unless otherwise specified.
Reclassifications
Certain amounts presented
for the three and nine months ended February 28, 2023, reflect reclassifications made to conform to the presentation
in our current reporting period. These reclassifications had no effect on the previously reported net income. Approximately $12,000 was reclassified from Professional and consulting
expenses to Compensation and related taxes for the three months ended February 28, 2023, and approximately $76,000 was reclassified from
Professional and consulting expenses to Compensation and related taxes for the nine months ended February 28, 2023. The reclassification
had no effect on previously presented total operating expenses.
Liquidity and Capital Resources
We are currently engaged in product sales and development. Although we earned net income
and have cash provided by operations for the nine months ended February 29, 2024, we had an accumulated deficit of $1,513,374 as of February
29, 2024 and have incurred operating losses and cash used in operations in the past. We currently expect to earn net income and positive
cash flows from operations during the current fiscal year ending May 31, 2024. We believe our current cash balances, coupled with anticipated
cash flow from operating activities, will be sufficient to meet our working capital requirements for at least one year from the date of
issuance of the accompanying unaudited consolidated financial statements. We intend to continue to control our cash expenses as a percentage
of expected revenue on an annual basis and thus may use our cash balances in the short-term to invest in revenue growth. As a result of
the acquisition of the Axil & Associated Brands’ business, we have generated and expect we will continue to generate sufficient
cash for our operational needs, including any required debt payments, for at least one year from the date of issuance of the accompanying
unaudited consolidated financial statements. Management is focused on growing the Company’s existing products, introducing new products,
as well as expanding 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, including those resulting from the purchase of the Axil & Associated Brands’ assets in June 2022, may lead to cash
utilization at levels greater than recently experienced. The Company cannot provide any assurance that it will be able to raise additional
capital or obtain necessary financing 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 unaudited
consolidated financial statements.
Use of estimates
The preparation of the unaudited consolidated financial
statements in conformity with accounting principles generally accepted in the United States (“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,
contract liability, allowance on sales returns, valuation of lease liabilities and related right of use assets, fair value of securities
issued for business combinations, fair value of assets acquired and liabilities assumed in business combinations 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. (See Note
14)
Accounts receivable and allowance for doubtful
accounts
On June 1, 2023, the Company adopted ASC 326, "Financial Instruments
- Credit Losses". In accordance with ASC 326, an allowance is maintained for estimated forward-looking losses resulting from
the possible inability of customers to make required payments (current expected losses). The amount of the allowance is determined principally
on the basis of past collection experience and known financial factors regarding specific customers.
Accounts receivables comprise of receivables from
customers and receivables from merchant processors. The Company has a policy of providing an 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 consist
primarily of cash prepayments to vendors for inventory and prepayments for trade shows and marketing events which will be utilized within
a year, prepayments on credit cards and the right to recover assets (for the cost of goods sold) associated with the right of returns
for products sold.
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. The Company continuously evaluates the levels of inventory held and any inventory held above the expected level of
sales in the next 12 months, is classified as non-current inventory.
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.
Product warranty
The Company provides a one-year, two-year or three-year
limited warranty on its hearing enhancement and hearing protection products. The Company records the costs of repairs and replacements,
as they are incurred, to the cost of sales.
Revenue recognition
The Company follows Accounting Standards Codification
(“ASC”) 606, “Revenue From Contracts With Customers.” This revenue recognition standard (new guidance)
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 electronic hearing
and enhancement products and hair and skin care products. The Company recognizes revenue for the agreed upon sales price when a purchase
order is received from the customer and subsequently the product is shipped to the customer, which satisfies the performance obligation.
Consideration paid to the customer to promote and sell the Company’s products is typically recorded as a reduction in revenues.
The five steps for the revenue recognition are as
follows:
Identify the contract with a customer. The
Company generally considers completion of a sales order (which requires customer acceptance of the Company’s click-through terms
and conditions for website sales and authorization of payment through credit card or another form of payment for sales made over the phone)
or purchase orders from non-consumer customers as a customer contract provided that collection is considered probable. For payments that
are not made upfront by credit card, the Company assesses customer creditworthiness based on credit checks, payment history, and/or other
circumstances. For payments involving third party financier payors, the Company validates customer eligibility and reimbursement amounts
prior to shipping the product.
Identify the performance obligations in the contract.
Product performance obligations include shipment of products and related accessories, and service performance obligations include extended
warranty coverage.
However, as the historical redemption rate under our
warranty policy has been low, the option is not accounted for as a separate performance obligation. The Company does not assess whether
promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer.
Determine the transaction price and allocation
to performance obligations. The transaction price in the Company’s customer contracts consists of both fixed and variable
consideration. Fixed consideration includes amounts to be contractually billed to the customer while variable consideration includes
the 30-days and 60-days right of return that applies to hearing enhancement and protection products and hair and skincare products,
respectively. To estimate product returns, the Company analyzes historical return levels, current economic trends, and changes in
customer demand. Based on this information, the Company reserves a percentage of product sale revenue and accounts for the estimated
impact as a reduction in the transaction price.
Allocate the transaction price to the performance
obligations in the contract. For contracts that contain multiple performance obligations, the Company allocates the transaction price
to the performance obligations on a relative standalone selling price basis.
Recognize revenue when or as the Company satisfies
a performance obligation. Revenue for products is recognized at a point in time, which is generally upon shipment. Revenue for services
(extended warranty) is recognized over time on a ratable basis over the warranty period.
As of February 29, 2024, and May 31, 2023, contract
liabilities amounted to $1,421,558 and $1,433,048, respectively. As of February 29, 2024 and May 31, 2023, contract liabilities associated
with product invoiced but not received by customers at the balance sheet date was $0 and $0, respectively; contract liabilities associated
with unfulfilled performance obligations for warranty services offered for a period of one, two and three years was $1,293,627 and $1,320,401,
respectively, and contract liabilities associated with unfulfilled performance obligations for customers’ right of return was $127,931
and $112,647, respectively. Our contract liabilities amounts are expected to be recognized over a period of between one year to three
years. Approximately $880,450 will be recognized in year one, $455,170 will be
recognized in year two, and $85,938 will be recognized in year three.
Revenue recognized, during the three months ended
February 29, 2024, that was included in the contract liability balance upon the acquisition of Axil & Associated Brands was $72,955.
Revenue recognized, during the nine months ended February 29, 2024, that was included in contract liability balance upon the acquisition
of Axil & Associated Brands was $259,201.
Cost of Sales
The primary components of cost of sales include the cost of the product and shipping
fees related to product procurement.
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 expense
were $313,318 and $283,237 for the three months ended February 29, 2024 and February 28, 2023, respectively. Shipping costs included in
the marketing and selling expense were $807,333 and $790,759 for the nine months ended February 29, 2024 and February 28, 2023, respectively.
Sales, Marketing and Advertising
Sales, marketing and advertising costs are expensed as incurred.
Customer Deposits
Customer deposits consisted of prepayments from customers
to the Company. The Company will recognize the prepayments as revenue upon delivery of products in compliance with its revenue recognition
policy.
Fair value measurements and fair value of financial instruments
The Company adopted ASC 820, “Fair Value Measurements
and Disclosures,” 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 Company’s 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 entity’s own assumptions. |
The Company analyzes all financial instruments with
features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard
for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level
of input that is significant to the fair value measurement.
The estimated fair value of certain financial instruments,
including prepaid expenses, deposits, accounts payable and accrued expenses are carried at historical cost basis, which approximates their
fair values because of the short-term nature of these instruments.
Business Combinations
For all business combinations (whether partial, full
or step acquisitions), the Company records 100% of all assets acquired and liabilities assumed of the acquired business, at their fair
values.
Goodwill represents the excess purchase price over
the fair value of the tangible net assets and intangible assets acquired in a business combination. Acquisition-related expenses are recognized
separately from business combinations and are expensed as incurred. If the business combination provides for contingent consideration,
the Company records the contingent consideration at fair value at the acquisition date. Changes in fair value of contingent consideration
resulting from events after the acquisition date, such as earn-outs, are recognized as follows: (1) if the contingent consideration is
classified as equity, the contingent consideration is not re-measured and its subsequent settlement is accounted for within equity, or
(2) if the contingent consideration is classified as a liability, the changes in fair value and accretion costs are recognized in earnings.
The increases or decreases in the fair value of contingent consideration can result from changes in anticipated revenue levels and changes
in assumed discount periods and rates.
Goodwill
Goodwill is comprised of the purchase price of business
combinations in excess of the fair value assigned at acquisition to the net tangible and identifiable intangible assets acquired. Goodwill
is not amortized. The Company tests goodwill for impairment for its reporting units on an annual basis, or when events occur, or circumstances
indicate the fair value of a reporting unit is below its carrying value.
The Company performs its annual goodwill impairment
assessment on May 31st of each year or as impairment indicators dictate.
When evaluating the potential impairment of goodwill,
management first assesses a range of qualitative factors, including but not limited to, macroeconomic conditions, industry conditions,
the competitive environment, changes in the market for the Company’s products and services, regulatory and political developments,
entity specific factors such as strategy and changes in key personnel, and the overall financial performance for each of the Company’s
reporting units. If, after completing this assessment, it is determined that it is more likely than not that the fair value of a reporting
unit is less than its carrying value, we then proceed to the quantitative impairment testing methodology primarily using the income approach
(discounted cash flow method).
Under the quantitative method we compare the
carrying value of the reporting unit, including goodwill, with its fair value, as determined by its estimated discounted cash flows. If
the carrying value of a reporting unit exceeds its fair value, then the amount of impairment to be recognized is the amount by which the
carrying amount exceeds the fair value.
When required, we arrive at our estimates of fair
value using a discounted cash flow methodology which includes estimates of future cash flows to be generated by specifically identified
assets, as well as selecting a discount rate to measure the present value of those anticipated cash flows. Estimating future cash flows
requires significant judgment and includes making assumptions about projected growth rates, industry-specific factors, working capital
requirements, weighted average cost of capital, and current and anticipated operating conditions. The use of different assumptions or
estimates for future cash flows could produce different results.
Income Taxes
The Company accounts for income taxes pursuant to the
provision of ASC 740-10, “Accounting for Income Taxes,” which requires, among other things, an asset and liability
approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities
for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities.
A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that
the net deferred asset will not be realized.
The Company follows the provision of ASC 740-10 related
to Accounting for Uncertain Income Tax Positions. When tax returns are filed, there may be uncertainty about the merits of positions taken
or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax
position is recognized in the financial statements in the period during which, based on all available evidence, management believes it
is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes,
if any. Tax positions taken are not offset or aggregated with other positions.
Tax positions that meet the more likely than not recognition
threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with
the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described
above should be reflected as a liability for uncertain tax benefits in the accompanying consolidated balance sheet along with any associated
interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all
more likely than not to be upheld upon examination. As such, the Company has not recorded a liability for uncertain tax benefits.
The Company has adopted ASC 740-10-25, “Definition
of Settlement”, which provides guidance on how an entity should determine whether a tax position is effectively settled for
the purpose of recognizing previously unrecognized tax benefits and provides that a tax position can be effectively settled upon the
completion and examination by a taxing authority without being legally extinguished. For tax positions considered effectively settled,
an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained
based solely on the basis of its technical merits and the statute of limitations remains open. The federal and state income tax
returns of the Company are subject to examination by the Internal Revenue Service (“IRS”) and state taxing authorities, generally
for three years after they are filed.
Impairment of long-lived assets
The Company reviews long-lived assets for impairment
whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least
annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying
amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book
value. The Company did not record any impairment loss during the nine months ended February 29, 2024 and February 28, 2023.
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,” which requires
recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments
over the period the employee or director 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 and director services received in exchange for an award based on the grant-date
fair value of the award.
For non-employee stock option based awards, the Company
follows Accounting Standards Update (“ASU”) 2018-7, which substantially aligns share based compensation for employees and
non-employees.
Net income per share of Common Stock
Basic net income per share is computed by dividing the net income by
the weighted average number of common shares during the period. Diluted net income per share is computed using the weighted average number
of common shares and potentially dilutive securities outstanding during the period. For both the three months ended and nine months ended
February 29, 2024 and February 28, 2023, certain stock options and restricted stock awards were excluded from the computation of diluted
common shares outstanding as they would have an anti-dilutive impact on the Company’s net income.
The following table sets forth the computations of
basic and diluted net income per common share:
Schedule of net loss per share | |
| | | |
| | | |
| | | |
| | |
| |
For the Three Months Ended | |
For the Nine Months Ended |
| |
February 29, | |
February 28, | |
February 29, | |
February 28, |
| |
2024 | |
2023 | |
2024 | |
2023 |
| |
| |
| |
| |
|
Net income | |
$ | 781,091 | | |
$ | 162,048 | | |
$ | 1,953,618 | | |
$ | 1,064,475 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted average basic shares | |
| 5,863,939 | | |
| 5,849,501 | | |
| 5,863,939 | | |
| 5,574,312 | |
Dilutive securities: | |
| | | |
| | | |
| | | |
| | |
Convertible preferred stock | |
| 12,500,000 | | |
| 12,500,000 | | |
| 12,500,000 | | |
| 11,767,399 | |
Stock options | |
| 212,975 | | |
| 280,000 | | |
| 205,201 | | |
| 156,026 | |
Weighted average dilutive shares | |
| 18,576,914 | | |
| 18,629,501 | | |
| 18,569,140 | | |
| 17,497,737 | |
| |
| | | |
| | | |
| | | |
| | |
Earnings per share: | |
| | | |
| | | |
| | | |
| | |
Basic | |
$ | 0.13 | | |
$ | 0.03 | | |
$ | 0.33 | | |
$ | 0.19 | |
Diluted | |
$ | 0.04 | | |
$ | 0.01 | | |
$ | 0.11 | | |
$ | 0.06 | |
Lease Accounting
In February 2016, the FASB issued ASU 2016-02, “Leases,”
which requires lessees to report on their balance sheets a right-of-use asset and a lease liability in connection with most lease agreements
classified as operating leases under the prior guidance (ASC 840). Under the new guidance, codified as ASC 842, the lease liability must
be measured initially based on the present value of future lease payments, subject to certain conditions. The right-of-use asset must
be measured initially based on the amount of the liability, plus certain initial direct costs. The new guidance further requires that
leases be classified at inception as either (a) operating leases or (b) finance leases. For operating leases, periodic expense is generally
flat (straight-line) throughout the life of the lease. For finance leases, periodic expense declines over the life of the lease. The
new standard, as amended, provides an option for entities to use the cumulative-effect transition method. As permitted, the Company adopted
ASC 842 effective June 1, 2019. The adoption of ASC 842 did not have a material impact on the Company’s consolidated financial
statements.
The Company’s renewed lease for its corporate
headquarters commencing December 1, 2022, under lease agreements classified as an operating lease. Please see Note 11 – “Commitments
and Contingencies” under “Leases” below for more information about the Company’s leases.
Segment Reporting
The Company follows ASC 280, “Segment
Reporting.” The Company’s management reviews the Company’s consolidated financial results when making decisions
about allocating resources and assessing the performance of the Company as a whole and has determined that the Company’s reportable
segments are: (a) the sale of hearing protection and hearing enhancement products, and (b) the sale of hair care and skin care products.
See Note 15 – “Business Segment and Geographic Area Information” for more information about the Company’s reportable
segments.
Recently Issued Accounting Pronouncements
In August 2020, the FASB issued ASU 2020-06, “Debt
– Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own
Equity,” which simplifies the accounting for certain convertible instruments. Among other things, under ASU 2020-06, the
embedded conversion features no longer must be separated from the host contract for convertible instruments with conversion features
not required to be accounted for as derivatives, or that do not result in substantial premiums accounted for as paid-in capital. ASU
2020-06 also eliminates the use of the treasury stock method when calculating the impact of convertible instruments on diluted Earnings
per Share. For the Company, the provisions of ASU 2020-06 are effective for its fiscal year beginning on June 1, 2024. Early adoption
is permitted, subject to certain limitations. The Company is evaluating the potential impact of adoption on its consolidated financial
statements.
Other accounting standards that have been issued or
proposed by the 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.
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for all significant accounting policies of the reporting entity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 235 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//235/tableOfContent
+ Details
Name: |
us-gaap_SignificantAccountingPoliciesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Accounts Receivable, net
|
9 Months Ended |
Feb. 29, 2024 |
Credit Loss [Abstract] |
|
Accounts Receivable, net |
Note 3 – Accounts Receivable, net
Accounts receivable, consisted of the following:
Schedule of accounts receivable | |
| |
|
| |
February 29, 2024 | |
May 31, 2023 |
Customers Receivable | |
$ | 913,024 | | |
$ | 345,264 | |
Merchant Processor Receivable | |
| 40,786 | | |
| 167,232 | |
Less: Allowance for Doubtful Debts | |
| (234,306 | ) | |
| (95,480 | ) |
Accounts receivable, net | |
$ | 719,504 | | |
$ | 417,016 | |
The Company recorded bad debt expense of $79,068 and
$119,757 during the three months ended February 29, 2024 and February 28, 2023, respectively. The Company recorded bad debt expense of
$143,395 and $13,782 during the nine months ended February 29, 2024 and February 28, 2023, respectively.
|
X |
- DefinitionThe entire disclosure for accounts receivable, contract receivable, receivable held-for-sale, and nontrade receivable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310/tableOfContent
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//326/tableOfContent
+ Details
Name: |
us-gaap_AccountsAndNontradeReceivableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_CreditLossAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Inventory, net
|
9 Months Ended |
Feb. 29, 2024 |
Inventory Disclosure [Abstract] |
|
Inventory, net |
Note 4 – Inventory, net
Inventory consisted of the following:
Schedule of inventory | |
| |
|
| |
February 29, 2024 | |
May 31, 2023 |
Finished Goods | |
$ | 3,257,573 | | |
$ | 1,198,218 | |
Raw Materials | |
| 185,720 | | |
| 113,646 | |
Inventory, net | |
$ | 3,443,293 | | |
$ | 1,311,864 | |
At February 29, 2024 and May 31, 2023, inventory held
at third party locations amounted to $77,803 and $0, respectively. At February 29, 2024 and May 31, 2023, inventory in-transit amounted
to $369,243 and $135,482, respectively.
During the nine months ended February 29, 2024, the
Company did not record any allowance on slow moving inventory that would be included in cost of sales. As of February 29, 2024, there
was no slow moving inventory.
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent
+ Details
Name: |
us-gaap_InventoryDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Property and Equipment
|
9 Months Ended |
Feb. 29, 2024 |
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 |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Furniture and Fixtures |
|
5 years |
|
$ |
25,644 |
|
|
$ |
14,598 |
|
Computer Equipment |
|
3 years |
|
|
30,968 |
|
|
|
33,146 |
|
Plant Equipment |
|
5-10 years |
|
|
216,738 |
|
|
|
165,778 |
|
Automobile |
|
5 years |
|
|
15,000 |
|
|
|
15,000 |
|
Tractor Trailer |
|
15 years |
|
|
9,347 |
|
|
|
- |
|
Less: Accumulated Depreciation |
|
|
|
|
(85,551 |
) |
|
|
(71,059 |
) |
Total Property and Equipment, net |
|
|
|
$ |
212,146 |
|
|
$ |
157,463 |
|
Depreciation expense amounted to $8,237 and $4,554
for the three months ended February 29, 2024 and February 28, 2023, respectively. Depreciation expense amounted to $25,508 and $12,046
for the nine months ended February 29, 2024 and February 28, 2023, respectively.
|
X |
- References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Intangible Assets
|
9 Months Ended |
Feb. 29, 2024 |
Goodwill and Intangible Assets Disclosure [Abstract] |
|
Intangible Assets |
Note 6 – Intangible Assets
The Company acquired intangible assets through the
Business Combination. (See Note 13). These intangible assets consisted of the following:
Schedule of intangible assets |
|
|
|
|
|
|
|
|
|
|
Estimated Life |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Licensing rights |
|
3 years |
|
$ |
11,945 |
|
|
$ |
11,945 |
|
Customer Relationships |
|
3 years |
|
|
70,000 |
|
|
|
70,000 |
|
Trade Names |
|
10 years |
|
|
275,000 |
|
|
|
275,000 |
|
Website |
|
5 years |
|
|
100,000 |
|
|
|
100,000 |
|
Less: Accumulated Amortization |
|
|
|
|
(132,396 |
) |
|
|
(74,271 |
) |
Total Intangible Assets, net |
|
|
|
$ |
324,549 |
|
|
$ |
382,674 |
|
Goodwill arising through the business combination
was $2,152,215 at February 29, 2024 (see Note 13).
Amortization expense amounted to $19,375 and $19,376 for the three months ended February 29,
2024 and February 28, 2023, respectively. Amortization expense amounted to $58,126 and $54,898 for the nine months ended February 29,
2024 and February 28, 2023, respectively.
|
X |
- References
+ Details
Name: |
us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for all or part of the information related to intangible assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent
+ Details
Name: |
us-gaap_IntangibleAssetsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Other Current Liabilities
|
9 Months Ended |
Feb. 29, 2024 |
Payables and Accruals [Abstract] |
|
Other Current Liabilities |
Note 7 – Other Current Liabilities
Other current liabilities comprised of the following:
Schedule of other current liabilities |
|
|
|
|
|
|
|
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Credit Cards |
|
$ |
17,470 |
|
|
$ |
833 |
|
Accrued Interest |
|
|
— |
|
|
|
10,343 |
|
Royalty Payment Accrual |
|
|
10,551 |
|
|
|
8,792 |
|
Sales Tax Payable |
|
|
277,992 |
|
|
|
240,559 |
|
Other Accrued Expenses |
|
|
1,781 |
|
|
|
17,464 |
|
Affiliate Accrual |
|
|
— |
|
|
|
27,673 |
|
Total Other Current Liabilities |
|
$ |
307,794 |
|
|
$ |
305,664 |
|
|
X |
- DefinitionThe entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period.
+ References
+ Details
Name: |
us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_PayablesAndAccrualsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Equipment Payable
|
9 Months Ended |
Feb. 29, 2024 |
Equipment Payable |
|
Equipment Payable |
Note 8 – Equipment Payable
During the fiscal 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. At February 29, 2024 and May 31, 2023, the balance outstanding on
the loan was $0 and $2,200, respectively. The Company recorded interest expense of $334 and $334, associated with the equipment financing
during the nine months ended February 29, 2024 and February 28, 2023, on the loan in the accompanying unaudited consolidated financial
statements.
|
X |
- References
+ Details
Name: |
axil_DisclosureEquipmentPayableAbstract |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_EquipmentFinancingPayableTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Notes Payable
|
9 Months Ended |
Feb. 29, 2024 |
Debt Disclosure [Abstract] |
|
Notes Payable |
Note 9 – Notes Payable
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 in installments of principal and interest 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 used the loan proceeds for qualifying expenses. During the year ended May 31, 2022, the
Company received additional $10,000 of borrowings under the program. The Company received a loan forgiveness for $10,000 during
the year ended May 31, 2022. The Company recorded interest receivable of $437 and accrued interest of $10,343, as of February 29, 2024
and May 31, 2023, respectively.
Schedule of notes payable |
|
|
|
|
|
|
Notes Payable as of |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Insurance Financing |
|
$ |
— |
|
|
$ |
21,335 |
|
Financing Charges |
|
|
— |
|
|
|
1,253 |
|
Economic Injury Disaster Loan Program (EIDL) |
|
|
147,150 |
|
|
|
150,000 |
|
Total |
|
|
147,150 |
|
|
|
172,588 |
|
Less: Current portion |
|
|
(3,310 |
) |
|
|
(172,588 |
) |
Non-current portion |
|
$ |
143,840 |
|
|
$ |
— |
|
|
X |
- References
+ Details
Name: |
us-gaap_DebtDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I
+ Details
Name: |
us-gaap_DebtDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Stockholders’ Equity
|
9 Months Ended |
Feb. 29, 2024 |
Equity [Abstract] |
|
Stockholders’ Equity |
Note 10 – Stockholders’ Equity
Shares Authorized
As of February 29, 2024, the authorized capital of
the Company consists of 450,000,000
shares of common stock, par value $0.0001
per share and 300,000,000
shares of preferred stock, par value $0.0001
per share. Any fractional shares remaining after the Reverse Stock Split were rounded up to the nearest whole share.
Preferred Stock
The preferred stock may be issued from time to time
in one or more series. The Board 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 providing the issuance
of such shares. The Board 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.
During the fiscal year ended May 31, 2023, the Company issued 250,000,000
shares of non-voting Series A Preferred Stock, which, following the reverse stock split of the Company’s common stock, are convertible
into shares of the Company’s common stock on a one-to-twenty ratio, pursuant to the Asset Purchase Agreement (See Note 13 and “Common
Stock” section below). These 250,000,000 shares of non-voting Series A Preferred Stock were valued at the fair market value of $3,100,000
at issuance.
The holders of shares of Series A Preferred Stock
have no rights to dividends with respect to such shares. No dividends or other distributions shall be declared or paid on the common stock
unless and until dividends at the same rate shall have been paid or declared and set apart upon the Series A Preferred Stock, based upon
the number of shares of common stock into which the Series A Preferred Stock may then be converted. Upon the dissolution, liquidation,
or winding up of the Company, whether voluntary or involuntary, the holders of the Series A Preferred Stock are entitled to receive out
of the assets of the Company the sum of $0.0001 per share before any payment or distribution shall be made on our shares of common stock.
The Series A Preferred Stock shall not be subject to redemption at the option, election or request of the Company or any holder or holders
of the Series A Preferred Stock. Each share of Series A Preferred Stock is convertible at the option of the holder thereof, at any time
after the second anniversary of the date of the first issuance of the shares of Series A Preferred Stock into twenty fully paid and nonassessable
shares of common stock provided, however, that the holder may not convert that number of shares of Series A Preferred Stock which would
cause the holder to become the beneficial owner of more than 5% of the Company’s common stock as determined in accordance with Sections
13(d) and (g) of the Exchange Act and the applicable rules and regulations thereunder.
The conversion provisions of the Company’s Series
A Preferred Stock was proportionately adjusted in connection with the Reverse Stock Split but did not adjust the number of shares issued
and outstanding. Please see Note 17 – Subsequent Events included herein for additional information about the Series A Preferred
Stock.
As of February 29, 2024 and May 31, 2023, 250,000,000
shares of preferred stock were issued and outstanding.
Common Stock
As of February 29, 2024, 5,878,939 shares of common
stock were issued and outstanding.
The
Reverse Stock Split as more fully discussed in Note 1, did not change the par value of the common stock, modify any voting rights or
other terms of the common stock, or change the number of authorized shares of the Company. Any fractional shares remaining after the
Reverse Stock Split were rounded up to the nearest whole share.
15,000 restricted stock awards were issued during the nine month period
ended February 29, 2024 (See below).
Stock Options
On February 14, 2024, the Board amended the Company’s
original 2022 Equity Incentive Plan (the “Plan”), which was originally approved on March 21, 2022. The effective date of
the amended Plan is October 31, 2023. Under the Plan, equity-based awards may be made to employees, officers, directors, non-employee
directors and consultants of the Company and its Affiliates (as defined in the Plan) in the form of (i) Incentive Stock Options
(to eligible employees only); (ii) Nonqualified Stock Options; (iii) Restricted Stock; (iv) Stock Awards; (v) Performance
Shares; or (vi) any combination of the foregoing. The Plan will terminate upon the close of business on the day next preceding October
31, 2033, unless terminated earlier in accordance with the terms of the Plan. The Board serves as the Plan administrator and may amend
or terminate the Plan without stockholder approval, subject to certain exceptions.
The total number of shares initially authorized for
issuance under the Plan was 500,000 shares. The Plan was amended and restated to provide the sum of 1,250,000 shares of common stock
authorized for issuance under the Plan. The Plan provides for an annual increase on April 1 of each calendar year, beginning in 2022 and
ending in 2031, subject to Board approval prior to such date. Such potential increase may be equal to the lesser of (i) 4% of the total
number of shares of the Company’s common stock outstanding on May 31 of the immediately preceding fiscal year and (ii) such smaller
number of shares as determined by the Board. The number of shares authorized for issuance under the Plan will not change unless the Board
affirmatively approves an increase in the number of shares authorized for issuance prior to April 1 of the applicable year. Shares surrendered
or withheld to pay the exercise price of a stock option or to satisfy tax withholding requirements will not be added back to the number
of shares available under the Plan. To the extent that any shares of common stock awarded or subject to issuance or purchase pursuant
to awards under the Plan are not delivered or purchased, or are reacquired by the Company, for any reason, including a forfeiture of restricted
stock or failure to earn performance shares, or the termination, expiration or cancellation of a stock option, or any other termination
of an award without payment being made in the form of shares of common stock will be added to the number of shares available for awards
under the Plan. The number of shares available for issuance under the Plan will be adjusted for any increase or decrease in the number
of outstanding shares of common stock resulting from payment of a stock dividend on common stock, a stock split or subdivision or combination
of shares of common stock, or a reorganization or reclassification of common stock, or any other change in the structure of shares of
common stock, as determined by the Board. Shares available for awards under the Plan will consist of authorized and unissued shares.
Two types of options may be granted under the Plan:
(1) Incentive Stock Options, which may only be issued to eligible employees of the Company and are required to have exercise price of
the option not less than the fair market value of the common stock on the grant date, or, in the case of an Incentive Stock Option
granted to a Ten Percent Stockholder, 110% of the fair market value of the common stock on the grant date; and (2) Non-qualified
Stock Options, which may be issued to participants under the Plan and which may have an exercise price less than the fair market value
of the common stock on the grant date, but not less than par value of the stock.
The Board may grant or sell restricted stock to participants
(i.e., shares that are subject to a subject to restrictions or limitations as to the participant’s ability to sell, transfer, pledge
or assign such shares) under the Plan. Except for these restrictions and any others imposed by the Board, upon the grant of restricted
stock, the recipient generally will have rights of a stockholder with respect to the restricted stock. During the applicable restriction
period, the recipient may not sell, exchange, transfer, pledge or otherwise dispose of the restricted stock. The Board may also grant
awards of common stock to participants under the Plan, as well as awards of performance shares, which are awards for which the payout
is subject to achievement of such performance objectives established by the Board. Performance shares may be settled in cash.
Each equity-based award granted under the Plan will
be evidenced by an award agreement that specifies the terms of the award and such additional limitations, terms and conditions as the
Board may determine, consistent with the provisions of the Plan.
Upon the occurrence of a change in control, unless
otherwise provided in an award agreement: (i) all outstanding stock options will become immediately exercisable in full; (ii) all outstanding
performance shares will vest in full as if the applicable performance conditions were achieved in full, subject to certain adjustments,
and will be paid out as soon as practicable; and (iii) all restricted stock will immediately vest in full. The Plan defines a change in
control as (i) the adoption of a plan of merger or consolidation of the Company with any other corporation or association as a result
of which the holders of the voting capital stock of the Company as a group would receive less than 50% of the voting capital stock of
the surviving or resulting corporation; (ii) the approval by the Board of an agreement providing for the sale or transfer (other than
as security for obligations of the Company) of substantially all the assets of the Company; or (iii) in the absence of prior Board approval,
the acquisition of more than 20% of the Company’s voting capital stock by any person within the meaning of Rule 13d-3 under the
Exchange Act (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with,
the Company).
Subject to the Plan’s terms, the Board has full
power and authority to determine whether, to what extent and under what circumstances any outstanding award will be terminated, canceled,
forfeited or suspended. Awards to that are subject to any restriction or have not been earned or exercised in full by the recipient will
be terminated and canceled if such recipient is terminated for cause, as determined by the Board in its sole discretion.
The Company estimates the fair value of share-based
compensation utilizing the Black-Scholes option pricing model, which is dependent upon several variables such as the expected option
term, expected volatility of the Company’s stock price over the expected term, expected risk-free interest rate over the expected
option term and expected dividend yield rate over the expected option term. The Company believes this valuation methodology is appropriate
for estimating the fair value of stock options granted to employees and directors which are subject to ASC 718 requirements. These amounts
are estimates and thus may not be reflective of actual future results, nor amounts ultimately realized by recipients of these grants.
The Company recognizes compensation on a straight-line basis over the requisite service period for each award.
The Company utilizes the simplified method to estimate
the expected life for stock options granted to employees. The simplified method was used as the Company does not have sufficient historical
data regarding stock option exercises. The expected volatility is based on historical volatility. The risk-free interest rate is based
on the U.S. Treasury yields with terms equivalent to the expected life of the related option at the time of the grant. Dividend yield
is based on historical trends. While the Company believes these estimates are reasonable, the compensation expense recorded would increase
if the expected life was increased, a higher expected volatility was used, or if the expected dividend yield increased.
Pursuant to the Plan, on May 10, 2022, the Company issued to two Company officers non-statutory
stock options to purchase, in the aggregate, up to 265,000 shares of its common stock, at an exercise price of $1.80 per share
valued at $477,000 and expiring on April 20, 2032. The options vest over time with 25% of the options vesting on September 1, 2022 and
thereafter vesting 1/24th on the 1st of every month. As of February 29, 2024, 194,219 of the options were vested.
The Company computed the aggregate grant date fair
value of $477,000 using the Black-Scholes option pricing model, which is being recorded as stock-based compensation expense over the vesting
period. During the three months ended February 29, 2024 and February 28, 2023, the Company recorded stock-based compensation expense of
$51,105 and $30,922, respectively, for these options, in the accompanying unaudited consolidated financial statements. During the nine
months ended February 29, 2024 and February 28, 2023, the Company recorded a stock-based compensation expense of $153,320 and $155,067,
respectively, for these options, in the accompanying unaudited financial statements.
Pursuant to the Plan, on November 1, 2022, the Company
issued non-statutory stock options, to a former executive officer of the Company, to purchase, in the aggregate, up to 15,000 shares
of its common stock, at an exercise price of $4.00 per share valued at approximately $60,000 and expiring on October 31, 2032. 3,750 shares
vested as of January 29, 2023, and the remaining 11,250 were forfeited in April 2023 when the executive officer left the Company. The
fair value of the 3,750 vested options using the Black-Scholes option pricing model of $15,000.
The following table summarizes the activity relating
to the Company’s stock options held by executive officers:
Schedule of summarizes relating to the company’s stock |
|
|
|
|
|
|
|
|
|
|
|
Number of Options |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Remaining Term |
|
|
|
|
|
|
|
|
|
|
|
Outstanding at May 31, 2022 |
|
|
265,000 |
|
|
$ |
1.80 |
|
|
|
10.0 |
|
Granted |
|
|
15,000 |
|
|
$ |
1.80 |
|
|
|
9.68 |
|
Less: Forfeited |
|
|
(11,250 |
) |
|
$ |
4.00 |
|
|
|
9.68 |
|
Outstanding at May 31, 2023 |
|
|
268,750 |
|
|
$ |
1.80 |
|
|
|
8.92 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Less: Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding at February 29, 2024 |
|
|
268,750 |
|
|
$ |
1.80 |
|
|
|
8.17 |
|
Less: Unvested at February 29, 2024 |
|
|
(74,531 |
) |
|
$ |
1.80 |
|
|
|
8.17 |
|
Vested at February 29, 2024 |
|
|
194,219 |
|
|
$ |
1.80 |
|
|
|
8.17 |
|
Restricted Stock Awards
On February 14, 2024, the Board appointed new
directors to the Board who will participate in the Company’s non-employee director compensation arrangements. Under the terms
of those arrangements and pursuant to the Plan, on February 14, 2024, the Company granted each of its three Board members 5,000
restricted stock awards for an aggregate of 15,000
shares of the Company’s common stock that will vest on the one year anniversary of the grant, subject to the respective
director’s continued service as a member of the Board, with a total grant date fair value of $195,000.
During the nine months ended February 29, 2024 and February 28, 2023, the Company recorded a stock-based compensation expense
related to the restricted stock awards of $7,994
and $0,
respectively.
|
X |
- References
+ Details
Name: |
us-gaap_EquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-6
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-6
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-16
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18
+ Details
Name: |
us-gaap_StockholdersEquityNoteDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Commitments and Contingencies
|
9 Months Ended |
Feb. 29, 2024 |
Commitments and Contingencies Disclosure [Abstract] |
|
Commitments and Contingencies |
Note 11 – Commitments and Contingencies
Leases
As discussed in Note 2 above, the Company adopted ASU 2016-02, “Leases”
on June 1, 2019, which require lessees to report on their balance sheets a right-of-use asset and a lease liability in connection
with most lease agreements classified as operating leases. In November 2022, the Company entered into an extension of its lease for a
two-year term beginning December 1, 2022. The rent was $6,098 per month for the first year and then increased to $6,342 per month. On
September 22, 2023, the Company entered into a lease in Draper, Utah for a one-year term beginning October 1, 2023. The rent is $4,680
per month for the first year and will increase by two percent the following year.
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 if the Company directs
the use of the asset and obtains substantially all the economic benefits of the asset. These leases are recorded as right-of-use (“ROU”)
assets and lease obligation liabilities for leases with terms greater than 12 months. ROU assets represent the Company’s right to
use an underlying asset for the entirety of the lease term. Lease liabilities represent the Company’s obligation to make payments
over the life of the lease. A ROU asset and a lease liability are recognized at commencement of the lease based on the present value of
the lease payments over the life of the lease. Initial direct costs are included as part of the ROU asset upon commencement of the lease.
Since the interest rate implicit in a lease is generally not readily determinable for the operating leases, the Company uses an incremental
borrowing rate to determine the present value of the lease payments. The incremental borrowing rate represents the rate of interest the
Company would have to pay to borrow on a collateralized basis over a similar lease term to obtain an asset of similar value.
The Company reviews the impairment of ROU assets consistent
with the approach applied for the Company’s other long-lived assets. The Company reviews the recoverability of long-lived assets
when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment
of possible impairment is based on the Company’s ability to recover the carrying value of the asset from the expected undiscounted
future pre-tax cash flows of the related operations.
Lease expense is recognized on a straight-line basis
over the lease term, while variable lease payments are expensed as incurred. Variable payments change due to facts or circumstances occurring
after the commencement date, other than the passage of time, and do not result in a remeasurement of lease liabilities. The Company’s
lease agreements do not contain any residual value guarantees or restrictive covenants.
The Company computed an initial lease liability of
$131,970 for the new lease agreement and an initial ROU asset in the same amount which was recorded on the books at the commencement of
the lease on December 1, 2022. During the nine months ended February 29, 2024 and February 28, 2023, the Company recorded a lease expense
in the amount of $55,976 and $65,776, respectively. As of February 29, 2024, the lease liability balance was $54,322 and the right of
use asset balance was $53,224. 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 |
|
|
|
|
|
|
|
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Assets |
|
|
|
|
|
|
|
|
Right of use assets |
|
$ |
131,970 |
|
|
$ |
131,970 |
|
Accumulated reduction |
|
|
(78,746 |
) |
|
|
(30,125 |
) |
Operating lease assets, net |
|
$ |
53,224 |
|
|
$ |
101,845 |
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
Lease liability |
|
$ |
131,970 |
|
|
$ |
131,970 |
|
Accumulated reduction |
|
|
(77,648 |
) |
|
|
(29,394 |
) |
Total lease liability, net |
|
|
54,322 |
|
|
|
102,576 |
|
Current portion |
|
|
(54,322 |
) |
|
|
(65,824 |
) |
Non-current portion |
|
$ |
— |
|
|
$ |
36,752 |
|
Maturities of operating lease liabilities were as
follows as of February 29, 2024:
Schedule of maturities of operating lease liabilities |
|
|
|
Operating Lease (fiscal year-end) |
|
|
|
2024 |
|
$ |
19,025 |
|
2025 |
|
|
38,049 |
|
Total |
|
$ |
57,074 |
|
Less: Imputed interest |
|
|
(2,752 |
) |
Present value of lease liabilities |
|
$ |
54,322 |
|
Contingencies
From time to time, we may become involved in various lawsuits and
legal proceedings which arise in the ordinary course of business. While the ultimate resolution is unknown, we do not expect that these
lawsuits will individually, or in the aggregate, have a material adverse effect to our results of operations, financial condition, or
cash flows. However, the outcome of any litigation is inherently uncertain and there can be no assurance that any expense, liability,
or damages that may ultimately result from the resolution of these matters will be covered by our insurance or will not be in excess
of amounts recognized or provided by insurance coverage and will not have a material adverse effect on our business, operating results,
financial condition, or cash flows. Where it is probable that we will incur a loss and the amount of the loss can be reasonably estimated,
we record a liability in our financial statements. In evaluating matters for accrual and disclosure purposes, we take into consideration
factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood
of our prevailing, the availability of insurance, and the severity of any potential loss. We reevaluate and update accruals as matters
progress over time. These legal accruals may be increased or decreased to reflect any relevant developments on a quarterly basis. Where
a loss is not probable or the amount of the loss is not estimable, we do not record an accrual, consistent with applicable accounting
guidance. In the opinion of management, while the outcome of such claims and disputes cannot be predicted with certainty, our ultimate
liability in connection with these matters is not expected to have a material adverse effect on our results of operations, financial
position or cash flows, and the amounts accrued for any individual matter are not material. However, legal proceedings are inherently
uncertain. As a result, the outcome of a particular matter or a combination of matters may be material to our results of operations for
a particular period, depending upon the size of the loss or our income for that particular period.
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 alleged breach of
agreement for non-payments for certain products against the Company. On September 2, 2023, Jacksonfill, LLC and the Company settled
the dispute in the Circuit Court of the Fourth Judicial Circuit in Duval County, Florida per a binding settlement agreement. There
is no admission of liability by the Company and on September 27, 2023 the Company paid attorneys on behalf of Jacksonfill, LLC the
settlement in the amount of $125,000. The reserve that was provided in the financial statements in excess of the final settlement
payment was recorded as a gain on settlement and is included in fiscal year 2024 other income in the amount of $79,182.
|
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for commitments and contingencies.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482648/440-10-50-4
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//450/tableOfContent
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 440 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480327/954-440-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482648/440-10-50-4
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 440 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//440/tableOfContent
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Related Party Transactions
|
9 Months Ended |
Feb. 29, 2024 |
Related Party Transactions [Abstract] |
|
Related Party Transactions |
Note 12 – Related Party Transactions
During the nine months ended February 29, 2024, the Company paid bonuses that totaled $42,000
to Jeff Brown, Chief Operating Officer. The Company’s Chairman and Chief Executive Officer (“CEO”), Jeff Toghraie,
is the managing director of Intrepid Global Advisors (“Intrepid”). Intrepid has, from time to time, provided advances to
the Company for working capital purposes and is paid consulting fees throughout the year. Intrepid was paid $93,811 in consulting fees for the nine months
ended February 29, 2024. At February 29, 2024, the Company had net amounts receivable from Intrepid of $18,536
due to timing of transactions posting and, at May 31, 2023, the Company had amounts payable to Intrepid of $124,378.
These receivables and advances were short-term in nature and non-interest bearing. Additionally, pursuant to a voting agreement,
effective June 16, 2022 as amended effective November 7, 2022, with Axil & Associated Brands and Intrepid, we are subject to
certain limitations on our ability to sell our capital stock until June 2024. During the nine months ended February 29, 2024 and
February 28, 2023, the CEO has not received cash compensation nor was any accrued as the CEO does not have an employment
agreement.
During the nine months and three months ended February
29, 2024, the Company paid $173,500 and $58,000, respectively, as a consulting fee for product development to Weston T. Harris, a
stockholder of Axil & Associated Brands. During the nine months and three months ended February 29, 2024, the Company also paid $106,442
and $37,312 respectively, to the sons of Weston T. Harris as compensation for services relating to packaging design and affiliate
marketing.
On June 16, 2022, the Company and its wholly owned subsidiary Reviv3 Acquisition Corporation
completed the acquisition of both (i) the hearing protection business of Axil & Associated Brands, consisting of ear plugs and ear
muffs, and (ii) Axil & Associated Brands’ ear bud business pursuant to the Asset Purchase Agreement, dated May 1, 2022 and amended
on June 15, 2022 and September 8, 2022 (the “Axil Asset Purchase Agreement”), by and among the Company, Reviv3 Acquisition
Corporation, Axil & Associated Brands and certain stockholders of Axil & Associated Brands. As of February 29, 2024, Intrepid
held 21.3% of the outstanding common stock of the Company and no shares of Axil & Associated Brands.
|
X |
- DefinitionThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-5
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-6
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(g)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//850/tableOfContent
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-6
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1
+ Details
Name: |
us-gaap_RelatedPartyTransactionsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Business Combination
|
9 Months Ended |
Feb. 29, 2024 |
Business Combination and Asset Acquisition [Abstract] |
|
Business Combination |
Note 13 – Business Combination
On June 16, 2022, the Company completed the acquisition
of certain assets of Axil & Associated Brands, pursuant to the Axil Asset Purchase Agreement, providing for the acquisition of Axil
& Associated Brands’ hearing protection business and ear bud business. The business constituted substantially all of the business
operations of Axil & Associated Brands but did not include Axil & Associated Brands’ hearing aid line of business.
As of June 16, 2022, Intrepid
held 4.68% of the outstanding common stock of Axil & Associated Brands and 22.33% of the outstanding common stock of the Company.
As of February 29, 2024, Intrepid held no outstanding common shares of AXIL & Associated Brands, as they were distributed with the
Axil Asset Purchase Agreement. Mr. Toghraie, Chairman and CEO of the Company is the managing director of Intrepid.
As consideration for the
asset purchase, Axil & Associated Brands received a total of 253,659,195
shares comprised of (a) 3,659,195 shares of the Company’s common stock and (b) 250,000,000 shares of non-voting Series A Preferred
Stock, which are convertible into shares of the Company’s common stock on a 1-to-20 ratio. The Series A Preferred Shares may not
be converted or transferred for a period of two years following the closing of the acquisition. Thereafter, no holder of Series A Preferred
Shares may convert such shares into a number of shares of Company common stock that would cause the holder to beneficially own more than
5% of the Company’s common stock, as determined in accordance with Sections 13(d) and (g) of the Exchange Act. The purchase price
was computed to be $4,007,480 based on a fair value of $0.0158 per share on the date of acquisition.
The Company is utilizing
the Axil & Associated Brands’ assets to expand into the hearing enhancement business through its newly incorporated subsidiary.
The acquisition is accounted for by the Company in accordance
with the acquisition method of accounting pursuant to ASC 805 “Business Combinations” and pushdown accounting is applied
to record the fair value of the assets acquired by the Company. Under this method, the purchase price is allocated to the identifiable
assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. Any excess of the amount paid
over the estimated fair values of the identifiable net assets acquired was allocated to goodwill.
The following is a summary of the fair value of the
assets acquired and liabilities assumed at the date of acquisition:
Schedule of estimated fair value of the assets acquired |
|
|
|
Cash |
|
$ |
1,066,414 |
|
Accounts receivable |
|
|
227,786 |
|
Inventory |
|
|
1,342,461 |
|
Prepaid expenses |
|
|
62,452 |
|
Other assets |
|
|
108,030 |
|
Accounts payable |
|
|
(285,665 |
) |
Contract liabilities |
|
|
(1,043,332 |
) |
Other current liabilities |
|
|
(79,826 |
) |
Net tangible assets acquired |
|
$ |
1,398,320 |
|
|
|
|
|
|
Identifiable intangible assets |
|
|
|
|
Licensing rights |
|
$ |
11,945 |
|
Customer relationships |
|
|
70,000 |
|
Tradenames |
|
|
275,000 |
|
Website |
|
|
100,000 |
|
Total Identifiable intangible assets |
|
$ |
456,945 |
|
|
|
|
|
|
Consideration paid |
|
$ |
4,007,480 |
|
Total net assets acquired |
|
|
1,855,265 |
|
Goodwill purchased |
|
$ |
2,152,215 |
|
|
X |
- References
+ Details
Name: |
us-gaap_BusinessCombinationAndAssetAcquisitionAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent
+ Details
Name: |
us-gaap_BusinessCombinationDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Concentrations
|
9 Months Ended |
Feb. 29, 2024 |
Risks and Uncertainties [Abstract] |
|
Concentrations |
Note 14 – 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 Company’s account at this institution is insured by the
Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At February 29, 2024 and May 31, 2023, the Company held cash
of approximately $4,146,736 and $4,582,682, respectively, in excess of federally insured limits. The Company has not experienced any losses
in such accounts through February 29, 2024.
Concentration of Revenue, Accounts Receivable,
Product Line, and Supplier – Hair and Skin Care Products
During the three months ended February 29, 2024, hair
and skin care product sales to one customer, which represented over 10% of our total sales, totaled 52%. During the three months ended
February 28, 2023, there were sales to one customer, which represented over 10% of our total sales, and totaled 16%. During the nine months
ended February 29, 2024, hair and skin care product sales to two customers, which each represented over 10% of our total sales, aggregated
to approximately 40% of the Company’s net sales at 29% and 11%. During the nine months ended February 28, 2023, there were sales
to one customer, which represented over 10% of our total sales, and totaled 13%.
During the three months ended February 29, 2024, hair
and skin care product sales to customers outside the United States represented approximately 80% to Canada. During the three months ended
February 28, 2023, sales to customers outside the United States represented approximately 26%, which consisted of 25% sales to Canada
and 1% to Italy. During the nine months ended February 29, 2024, hair and skin care product sales to customers outside the United States
represented approximately 54% to Canada. During the nine months ended February 28, 2023, sales to customers outside the United States
represented approximately 24%, which consisted of 21% sales to Canada and 3% to Italy.
During the three months ended February 29, 2024, hair and skin care product sales by product line
which each represented over 10% of sales consisted of approximately 34% from sales of hair shampoo, 30% from sales of hair conditioner,
14% from bundle kits (shampoo, conditioner and spray), and 18% from hair treatment product. During the three months ended February 28,
2023, hair and skin care product sales by product line which each represented over 10% of sales consisted of approximately 25% from sales
of hair shampoo, 15% from conditioner, 37% from sale of bundle kits, and 13% from other hair treatment products. During the nine months
ended February 29, 2024, hair and skin care product sales by product line which each represented over 10% of sales consisted of approximately
25% from sales of hair shampoo, 25% from sales of hair conditioner, 24% from bundle kits, and 19% from hair treatment product. During
the nine months ended February 28, 2023, hair and skin care product sales by product line which each represented over 10% of sales consisted
of approximately 21% from sales of hair shampoo, 11% from sales of shampoo and conditioner bundles, 49% from sale of bundle kits, and
11% from sales of other hair treatment products.
During the nine months ended February 29, 2024 and
February 28, 2023, sales by product line comprised of the following:
Schedule of sales by product line | |
| | | |
| | |
| |
For the Nine Months Ended |
| |
February 29, | |
February 28, |
Hair Care Products | |
2024 | |
2023 |
Shampoo | |
| 25 | % | |
| 21 | % |
Shampoos and Conditioners | |
| 7 | % | |
| 11 | % |
Conditioner | |
| 25 | % | |
| 8 | % |
Bundle Kits | |
| 24 | % | |
| 49 | % |
Ancillary Products | |
| 19 | % | |
| 11 | % |
Total | |
| 100 | % | |
| 100 | % |
At February 29, 2024, hair and skin care product’s
accounts receivables from customers that accounted for more than 10% of sales transactions were from one customer at 25%. At May 31, 2023,
hair and skin care product’s accounts receivable from one customer accounted for more than 10% of sales transactions.
The Company purchased inventories and products from five vendors totaling approximately
$36,790 and three vendors totaling approximately $75,725 for the three months ended February 29, 2024 and February 28, 2023, respectively.
Hair and skin care inventory product purchased from three vendors totaling approximately $297,833 (95% of the purchases at 61%, 12% and
22%), during the fiscal year ended May 31, 2023. The Company purchased inventories and products from five vendors totaling approximately
$339,884 and from eight vendors totaling $293,204 for the nine months ended February 29, 2024 and February 28, 2023, respectively.
Concentration of Revenue, Accounts Receivable,
Product Line, and Supplier – Ear Protection and Enhancement Products
AXIL’s products are sold direct-to-consumer, therefore, 88.4% and
94.0% of sales was direct to customers during the three months ended February 29, 2024 and February 28, 2023, respectively. There was
no single customer that accounted for greater than 10% of total sales in those periods. During the nine months ended February 29, 2024
and February 28, 2023, sales direct to customers accounted for 91.7% and 97.1%, respectively. No single customer that accounted for greater
than 10% of total sales in those periods.
During the three months ended February 29, 2024, AXIL
sales to customers outside the United States represented approximately 2.6% which consisted of 2.3% from Canada and the remaining from
various countries. During the three months ended February 28, 2023, sales of AXIL product to customers outside the United States represented
3.9% which consisted of 2.7% from Canada and the remaining from various countries. During the nine months ended February 29, 2024, AXIL
sales to customers outside the United States represented approximately 3.7% which consisted of 3.5% from Canada and the remaining from
various countries. During the nine months ended February 28, 2023, sales of AXIL product to customers outside the United States represented
4.2% which consisted of 3.3% from Canada and the remaining from various countries.
Manufacturing is outsourced primarily overseas via
a number of third-party vendors, the largest vendor accounted for 78.3% and 89.2% of all purchases for the three months and nine months
ended February 29, 2024, respectively. For the fiscal year ended May 31, 2023, the two largest vendors accounted for 82% and 10% of all
purchases.
Note 14 – Concentrations (continued)
During the three months ended February 29, 2024,
AXIL gross sales of ear buds for PSAP (personal sound amplification product) and hearing protection by product line which each
represented over 10% of gross sales consisted approximately 47.2%
from Ghost Stryke, 12.9%
from Trackr earmuffs and 38.6%
of gross sales of other Bluetooth and ear buds. During the three months ended February 28, 2023, AXIL gross sales of ear buds and
hearing protection by product line which represented over 10%
of gross sales was 87.7%
from Ghost Stryke model GS-X and 11.3%
from Trackr earmuffs.
During the nine months ended February 29, 2024,
AXIL gross sales of ear buds for PSAP (personal sound amplification product) and hearing protection by product line which each
represented over 10% of gross sales consisted approximately 52.8%
from Ghost Stryke, 13.0%
from Trackr earmuffs and 33.1%
of gross sales of other Bluetooth and ear buds. During the nine months ended February 28, 2023, AXIL gross sales of ear buds and
hearing protection by product line which represented over 10%
of gross sales was 89.9%
from Ghost Stryke model GS-X.
During the nine months ended February 29, 2024
and February 28, 2023 gross sales by hearing enhancement and protection products comprised of the following:
Schedule of sales by product comprised | |
| | | |
| | |
| |
For the Nine Months Ended |
| |
February 29, | |
February 28, |
Ear Protection & Enhancement Products | |
2024 | |
2023 |
Ghost Stryke | |
| 52.8 | % | |
| 89.9 | % |
Trackr earmuffs | |
| 13.0 | % | |
| 9.0 | % |
Other Bluetooth and ear buds | |
| 33.1 | % | |
| 1.0 | % |
Accessories, other | |
| 1.1 | % | |
| 0.1 | % |
Total | |
| 100.0 | % | |
| 100.0 | % |
|
X |
- DefinitionThe entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent
+ Details
Name: |
us-gaap_ConcentrationRiskDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_RisksAndUncertaintiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Business Segment and Geographic Area Information
|
9 Months Ended |
Feb. 29, 2024 |
Segment Reporting [Abstract] |
|
Business Segment and Geographic Area Information |
Note 15
– Business Segment and Geographic Area Information
Business Segments
The Company, directly or through its subsidiaries,
markets and sells its products and services directly to consumers and through its dealers. In June 2022, the Company acquired a hearing
enhancement and hearing protection business. The Company’s determination of its reportable segments is based on how its chief operating
decision makers manage the business.
The Company’s segment information is as follows:
Schedule of segment information | |
| | | |
| | | |
| | | |
| | |
| |
Three Months Ended | |
Nine Months Ended |
| |
February 29, | |
February 28, | |
February 29, | |
February 28, |
Net Sales | |
2024 | |
2023 | |
2024 | |
2023 |
Hair care and skin care | |
$ | 476,864 | | |
$ | 302,415 | | |
$ | 1,022,458 | | |
$ | 1,206,385 | |
Hearing enhancement and protection | |
| 5,992,479 | | |
| 5,354,046 | | |
| 19,974,831 | | |
| 15,419,433 | |
Total net sales | |
$ | 6,469,343 | | |
$ | 5,656,461 | | |
$ | 20,997,289 | | |
$ | 16,625,818 | |
| |
| | | |
| | | |
| | | |
| | |
Operating earnings (loss) | |
| | | |
| | | |
| | | |
| | |
Segment gross profit: | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 247,859 | | |
$ | 202,016 | | |
$ | 641,966 | | |
$ | 842,447 | |
Hearing enhancement and protection | |
| 4,376,467 | | |
| 4,016,469 | | |
| 14,887,865 | | |
| 11,697,726 | |
Total segment gross profit | |
$ | 4,624,326 | | |
$ | 4,218,485 | | |
$ | 15,529,831 | | |
$ | 12,540,173 | |
Selling and Marketing | |
| 3,398,949 | | |
| 3,173,383 | | |
| 10,278,570 | | |
| 8,250,257 | |
General and Administrative | |
| 1,329,256 | | |
| 828,513 | | |
| 3,917,471 | | |
| 2,888,931 | |
Consolidated operating income (loss) | |
$ | (103,879 | ) | |
$ | 216,588 | | |
$ | 1,333,790 | | |
$ | 1,400,984 | |
| |
| | | |
| | | |
| | | |
| | |
Total Assets: | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 4,232,913 | | |
$ | 1,243,359 | | |
$ | 4,232,913 | | |
$ | 1,243,359 | |
Hearing enhancement and protection | |
| 8,480,805 | | |
| 8,047,093 | | |
| 8,480,805 | | |
| 8,047,093 | |
Consolidated total assets | |
$ | 12,713,718 | | |
$ | 9,290,452 | | |
$ | 12,713,718 | | |
$ | 9,290,452 | |
| |
| | | |
| | | |
| | | |
| | |
Payments for property and equipment | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
Hearing enhancement and protection | |
| 9,347 | | |
| 11,250 | | |
| 80,192 | | |
| 65,650 | |
Consolidated total payments for property and equipment | |
$ | 9,347 | | |
$ | 11,250 | | |
$ | 80,192 | | |
$ | 65,650 | |
| |
| | | |
| | | |
| | | |
| | |
Depreciation and amortization | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 1,417 | | |
$ | 1,417 | | |
$ | 4,251 | | |
$ | 4,258 | |
Hearing enhancement and protection | |
| 26,197 | | |
| 22,512 | | |
| 79,383 | | |
| 62,686 | |
Consolidated total depreciation and amortization | |
$ | 27,614 | | |
$ | 23,929 | | |
$ | 83,634 | | |
$ | 66,944 | |
Geographic Area Information
During the three months ended February 29, 2024, approximately
96% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). During the three
months ended February 28, 2023, approximately 94% of our consolidated net sales were to customers located in the U.S. (based on the customer’s
shipping address). All Company assets are located in the U.S.
During the nine months ended February 29, 2024, approximately
95% of our consolidated net sales were to customers located in the U.S. (based on the customer’s shipping address). During the nine
months ended February 28, 2023, approximately 94% of our consolidated net sales were to customers located in the U.S. (based on the customer’s
shipping address).
|
X |
- References
+ Details
Name: |
us-gaap_SegmentReportingAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
+ Details
Name: |
us-gaap_SegmentReportingDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Income Taxes
|
9 Months Ended |
Feb. 29, 2024 |
Income Tax Disclosure [Abstract] |
|
Income Taxes |
Note 16 – Income Taxes
We calculated our interim tax provision in accordance
with ASC 270, “Interim Reporting,” and ASC 740, “Accounting for Income Taxes.” As the end of each
interim quarterly period, we estimate our annual effective tax rate and apply that rate to our ordinary quarterly earnings to calculate
the tax related to ordinary income. The tax effects of other items that are excluded from ordinary income are discretely calculated and
recognized in the period in which they occur.
We recorded an income tax benefit of $397,054
for the nine months ended February 29, 2024 that was related to the reversal of fiscal year ended May 31, 2023 income tax liability
due to filing of the federal and state tax returns, as well as additional net operating losses which can offset current year income
tax liability. In addition, there are remaining net operating losses that created a deferred tax asset which management believes are
fully realizable. For the nine months ended February 28, 2023 provision for income tax expense was $395,344.
The Company does not have any uncertain tax positions
or events leading to uncertainty in a tax position. The Company’s 2020, 2021, 2022 and 2023 Corporate Income Tax Returns are subject
to IRS examination.
|
X |
- DefinitionThe entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-13
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//740/tableOfContent
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-14
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-21
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482526/740-270-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482603/740-30-50-2
+ Details
Name: |
us-gaap_IncomeTaxDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Subsequent Events
|
9 Months Ended |
Feb. 29, 2024 |
Subsequent Events [Abstract] |
|
Subsequent Events |
Note 17 – Subsequent Events
Corporate Actions
On March 5, 2024, the Board approved and the
Company entered into repurchase agreements with certain stockholders of the Company to purchase in the aggregate 207,748,250 shares
of Series A Preferred Stock of the Company (equivalent, in aggregate, to 10,387,413 shares of the Company’s
common stock on an as converted basis) for the aggregate cash consideration of $1,246,490. Following the repurchase, 42,251,750
shares of Series A Preferred Stock remain outstanding. The Company funded the repurchase through cash on hand.
|
X |
- References
+ Details
Name: |
us-gaap_SubsequentEventsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2
+ Details
Name: |
us-gaap_SubsequentEventsTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
|
9 Months Ended |
Feb. 29, 2024 |
Accounting Policies [Abstract] |
|
Basis of Presentation and Principles of Consolidation |
Basis of Presentation and Principles of Consolidation
The accompanying unaudited consolidated financial statements have been
prepared by us pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion
of the management, all adjustments necessary to present fairly our financial position, results of operations, and cash flows as of February
29, 2024, and February 28, 2023, 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 consolidated financial statements prepared in accordance with
generally accepted accounting principles have been omitted. The unaudited consolidated financial statements should be read in conjunction
with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended
May 31, 2023. The results of operations for the three and nine months ended February 29, 2024 are not necessarily indicative of the results
to be expected for the fiscal year ending 2024. The unaudited consolidated financial statements include the Company and its wholly owned
subsidiary. All significant intercompany balances and transactions have been eliminated upon consolidation.
|
Reverse Stock Split |
Reverse Stock Split
Effective as of January 16, 2024, the Company filed a Certificate of
Amendment to the Company’s Amended and Restated Articles of Incorporation with the Delaware Secretary of State to implement a reverse
stock split (the “Reverse Stock Split”) of the Company’s issued shares of common stock at a ratio of 1-for-20 approved
by the Company’s Board of Directors (the “Board”). The Reverse Stock Split does not affect the total number of shares
of common stock that the Company is authorized to issue and any fractional shares remaining after the Reverse Stock Split were rounded
up to the nearest whole share. The accompanying financial statements and notes to the financial statements give retroactive effect to
the Reverse Stock Split for all periods presented, unless otherwise specified.
|
Reclassifications |
Reclassifications
Certain amounts presented
for the three and nine months ended February 28, 2023, reflect reclassifications made to conform to the presentation
in our current reporting period. These reclassifications had no effect on the previously reported net income. Approximately $12,000 was reclassified from Professional and consulting
expenses to Compensation and related taxes for the three months ended February 28, 2023, and approximately $76,000 was reclassified from
Professional and consulting expenses to Compensation and related taxes for the nine months ended February 28, 2023. The reclassification
had no effect on previously presented total operating expenses.
|
Liquidity and Capital Resources |
Liquidity and Capital Resources
We are currently engaged in product sales and development. Although we earned net income
and have cash provided by operations for the nine months ended February 29, 2024, we had an accumulated deficit of $1,513,374 as of February
29, 2024 and have incurred operating losses and cash used in operations in the past. We currently expect to earn net income and positive
cash flows from operations during the current fiscal year ending May 31, 2024. We believe our current cash balances, coupled with anticipated
cash flow from operating activities, will be sufficient to meet our working capital requirements for at least one year from the date of
issuance of the accompanying unaudited consolidated financial statements. We intend to continue to control our cash expenses as a percentage
of expected revenue on an annual basis and thus may use our cash balances in the short-term to invest in revenue growth. As a result of
the acquisition of the Axil & Associated Brands’ business, we have generated and expect we will continue to generate sufficient
cash for our operational needs, including any required debt payments, for at least one year from the date of issuance of the accompanying
unaudited consolidated financial statements. Management is focused on growing the Company’s existing products, introducing new products,
as well as expanding 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, including those resulting from the purchase of the Axil & Associated Brands’ assets in June 2022, may lead to cash
utilization at levels greater than recently experienced. The Company cannot provide any assurance that it will be able to raise additional
capital or obtain necessary financing 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 unaudited
consolidated financial statements.
|
Use of estimates |
Use of estimates
The preparation of the unaudited consolidated financial
statements in conformity with accounting principles generally accepted in the United States (“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,
contract liability, allowance on sales returns, valuation of lease liabilities and related right of use assets, fair value of securities
issued for business combinations, fair value of assets acquired and liabilities assumed in business combinations 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. (See Note
14)
|
Accounts receivable and allowance for doubtful accounts |
Accounts receivable and allowance for doubtful
accounts
On June 1, 2023, the Company adopted ASC 326, "Financial Instruments
- Credit Losses". In accordance with ASC 326, an allowance is maintained for estimated forward-looking losses resulting from
the possible inability of customers to make required payments (current expected losses). The amount of the allowance is determined principally
on the basis of past collection experience and known financial factors regarding specific customers.
Accounts receivables comprise of receivables from
customers and receivables from merchant processors. The Company has a policy of providing an 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 consist
primarily of cash prepayments to vendors for inventory and prepayments for trade shows and marketing events which will be utilized within
a year, prepayments on credit cards and the right to recover assets (for the cost of goods sold) associated with the right of returns
for products sold.
|
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. The Company continuously evaluates the levels of inventory held and any inventory held above the expected level of
sales in the next 12 months, is classified as non-current inventory.
|
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.
|
Product warranty |
Product warranty
The Company provides a one-year, two-year or three-year
limited warranty on its hearing enhancement and hearing protection products. The Company records the costs of repairs and replacements,
as they are incurred, to the cost of sales.
|
Revenue recognition |
Revenue recognition
The Company follows Accounting Standards Codification
(“ASC”) 606, “Revenue From Contracts With Customers.” This revenue recognition standard (new guidance)
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 electronic hearing
and enhancement products and hair and skin care products. The Company recognizes revenue for the agreed upon sales price when a purchase
order is received from the customer and subsequently the product is shipped to the customer, which satisfies the performance obligation.
Consideration paid to the customer to promote and sell the Company’s products is typically recorded as a reduction in revenues.
The five steps for the revenue recognition are as
follows:
Identify the contract with a customer. The
Company generally considers completion of a sales order (which requires customer acceptance of the Company’s click-through terms
and conditions for website sales and authorization of payment through credit card or another form of payment for sales made over the phone)
or purchase orders from non-consumer customers as a customer contract provided that collection is considered probable. For payments that
are not made upfront by credit card, the Company assesses customer creditworthiness based on credit checks, payment history, and/or other
circumstances. For payments involving third party financier payors, the Company validates customer eligibility and reimbursement amounts
prior to shipping the product.
Identify the performance obligations in the contract.
Product performance obligations include shipment of products and related accessories, and service performance obligations include extended
warranty coverage.
However, as the historical redemption rate under our
warranty policy has been low, the option is not accounted for as a separate performance obligation. The Company does not assess whether
promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer.
Determine the transaction price and allocation
to performance obligations. The transaction price in the Company’s customer contracts consists of both fixed and variable
consideration. Fixed consideration includes amounts to be contractually billed to the customer while variable consideration includes
the 30-days and 60-days right of return that applies to hearing enhancement and protection products and hair and skincare products,
respectively. To estimate product returns, the Company analyzes historical return levels, current economic trends, and changes in
customer demand. Based on this information, the Company reserves a percentage of product sale revenue and accounts for the estimated
impact as a reduction in the transaction price.
Allocate the transaction price to the performance
obligations in the contract. For contracts that contain multiple performance obligations, the Company allocates the transaction price
to the performance obligations on a relative standalone selling price basis.
Recognize revenue when or as the Company satisfies
a performance obligation. Revenue for products is recognized at a point in time, which is generally upon shipment. Revenue for services
(extended warranty) is recognized over time on a ratable basis over the warranty period.
As of February 29, 2024, and May 31, 2023, contract
liabilities amounted to $1,421,558 and $1,433,048, respectively. As of February 29, 2024 and May 31, 2023, contract liabilities associated
with product invoiced but not received by customers at the balance sheet date was $0 and $0, respectively; contract liabilities associated
with unfulfilled performance obligations for warranty services offered for a period of one, two and three years was $1,293,627 and $1,320,401,
respectively, and contract liabilities associated with unfulfilled performance obligations for customers’ right of return was $127,931
and $112,647, respectively. Our contract liabilities amounts are expected to be recognized over a period of between one year to three
years. Approximately $880,450 will be recognized in year one, $455,170 will be
recognized in year two, and $85,938 will be recognized in year three.
Revenue recognized, during the three months ended
February 29, 2024, that was included in the contract liability balance upon the acquisition of Axil & Associated Brands was $72,955.
Revenue recognized, during the nine months ended February 29, 2024, that was included in contract liability balance upon the acquisition
of Axil & Associated Brands was $259,201.
|
Cost of Sales |
Cost of Sales
The primary components of cost of sales include the cost of the product and shipping
fees related to product procurement.
|
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 expense
were $313,318 and $283,237 for the three months ended February 29, 2024 and February 28, 2023, respectively. Shipping costs included in
the marketing and selling expense were $807,333 and $790,759 for the nine months ended February 29, 2024 and February 28, 2023, respectively.
|
Sales, Marketing and Advertising |
Sales, Marketing and Advertising
Sales, marketing and advertising costs are expensed as incurred.
|
Customer Deposits |
Customer Deposits
Customer deposits consisted of prepayments from customers
to the Company. The Company will recognize the prepayments as revenue upon delivery of products in compliance with its revenue recognition
policy.
|
Fair value measurements and fair value of financial instruments |
Fair value measurements and fair value of financial instruments
The Company adopted ASC 820, “Fair Value Measurements
and Disclosures,” 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 Company’s 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 entity’s own assumptions. |
The Company analyzes all financial instruments with
features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard
for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level
of input that is significant to the fair value measurement.
The estimated fair value of certain financial instruments,
including prepaid expenses, deposits, accounts payable and accrued expenses are carried at historical cost basis, which approximates their
fair values because of the short-term nature of these instruments.
|
Business Combinations |
Business Combinations
For all business combinations (whether partial, full
or step acquisitions), the Company records 100% of all assets acquired and liabilities assumed of the acquired business, at their fair
values.
Goodwill represents the excess purchase price over
the fair value of the tangible net assets and intangible assets acquired in a business combination. Acquisition-related expenses are recognized
separately from business combinations and are expensed as incurred. If the business combination provides for contingent consideration,
the Company records the contingent consideration at fair value at the acquisition date. Changes in fair value of contingent consideration
resulting from events after the acquisition date, such as earn-outs, are recognized as follows: (1) if the contingent consideration is
classified as equity, the contingent consideration is not re-measured and its subsequent settlement is accounted for within equity, or
(2) if the contingent consideration is classified as a liability, the changes in fair value and accretion costs are recognized in earnings.
The increases or decreases in the fair value of contingent consideration can result from changes in anticipated revenue levels and changes
in assumed discount periods and rates.
|
Goodwill |
Goodwill
Goodwill is comprised of the purchase price of business
combinations in excess of the fair value assigned at acquisition to the net tangible and identifiable intangible assets acquired. Goodwill
is not amortized. The Company tests goodwill for impairment for its reporting units on an annual basis, or when events occur, or circumstances
indicate the fair value of a reporting unit is below its carrying value.
The Company performs its annual goodwill impairment
assessment on May 31st of each year or as impairment indicators dictate.
When evaluating the potential impairment of goodwill,
management first assesses a range of qualitative factors, including but not limited to, macroeconomic conditions, industry conditions,
the competitive environment, changes in the market for the Company’s products and services, regulatory and political developments,
entity specific factors such as strategy and changes in key personnel, and the overall financial performance for each of the Company’s
reporting units. If, after completing this assessment, it is determined that it is more likely than not that the fair value of a reporting
unit is less than its carrying value, we then proceed to the quantitative impairment testing methodology primarily using the income approach
(discounted cash flow method).
Under the quantitative method we compare the
carrying value of the reporting unit, including goodwill, with its fair value, as determined by its estimated discounted cash flows. If
the carrying value of a reporting unit exceeds its fair value, then the amount of impairment to be recognized is the amount by which the
carrying amount exceeds the fair value.
When required, we arrive at our estimates of fair
value using a discounted cash flow methodology which includes estimates of future cash flows to be generated by specifically identified
assets, as well as selecting a discount rate to measure the present value of those anticipated cash flows. Estimating future cash flows
requires significant judgment and includes making assumptions about projected growth rates, industry-specific factors, working capital
requirements, weighted average cost of capital, and current and anticipated operating conditions. The use of different assumptions or
estimates for future cash flows could produce different results.
|
Income Taxes |
Income Taxes
The Company accounts for income taxes pursuant to the
provision of ASC 740-10, “Accounting for Income Taxes,” which requires, among other things, an asset and liability
approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities
for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities.
A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that
the net deferred asset will not be realized.
The Company follows the provision of ASC 740-10 related
to Accounting for Uncertain Income Tax Positions. When tax returns are filed, there may be uncertainty about the merits of positions taken
or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax
position is recognized in the financial statements in the period during which, based on all available evidence, management believes it
is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes,
if any. Tax positions taken are not offset or aggregated with other positions.
Tax positions that meet the more likely than not recognition
threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with
the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described
above should be reflected as a liability for uncertain tax benefits in the accompanying consolidated balance sheet along with any associated
interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all
more likely than not to be upheld upon examination. As such, the Company has not recorded a liability for uncertain tax benefits.
The Company has adopted ASC 740-10-25, “Definition
of Settlement”, which provides guidance on how an entity should determine whether a tax position is effectively settled for
the purpose of recognizing previously unrecognized tax benefits and provides that a tax position can be effectively settled upon the
completion and examination by a taxing authority without being legally extinguished. For tax positions considered effectively settled,
an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained
based solely on the basis of its technical merits and the statute of limitations remains open. The federal and state income tax
returns of the Company are subject to examination by the Internal Revenue Service (“IRS”) and state taxing authorities, generally
for three years after they are filed.
|
Impairment of long-lived assets |
Impairment of long-lived assets
The Company reviews long-lived assets for impairment
whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable, or at least
annually. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying
amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book
value. The Company did not record any impairment loss during the nine months ended February 29, 2024 and February 28, 2023.
|
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,” which requires
recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments
over the period the employee or director 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 and director services received in exchange for an award based on the grant-date
fair value of the award.
For non-employee stock option based awards, the Company
follows Accounting Standards Update (“ASU”) 2018-7, which substantially aligns share based compensation for employees and
non-employees.
|
Net income per share of Common Stock |
Net income per share of Common Stock
Basic net income per share is computed by dividing the net income by
the weighted average number of common shares during the period. Diluted net income per share is computed using the weighted average number
of common shares and potentially dilutive securities outstanding during the period. For both the three months ended and nine months ended
February 29, 2024 and February 28, 2023, certain stock options and restricted stock awards were excluded from the computation of diluted
common shares outstanding as they would have an anti-dilutive impact on the Company’s net income.
The following table sets forth the computations of
basic and diluted net income per common share:
Schedule of net loss per share | |
| | | |
| | | |
| | | |
| | |
| |
For the Three Months Ended | |
For the Nine Months Ended |
| |
February 29, | |
February 28, | |
February 29, | |
February 28, |
| |
2024 | |
2023 | |
2024 | |
2023 |
| |
| |
| |
| |
|
Net income | |
$ | 781,091 | | |
$ | 162,048 | | |
$ | 1,953,618 | | |
$ | 1,064,475 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted average basic shares | |
| 5,863,939 | | |
| 5,849,501 | | |
| 5,863,939 | | |
| 5,574,312 | |
Dilutive securities: | |
| | | |
| | | |
| | | |
| | |
Convertible preferred stock | |
| 12,500,000 | | |
| 12,500,000 | | |
| 12,500,000 | | |
| 11,767,399 | |
Stock options | |
| 212,975 | | |
| 280,000 | | |
| 205,201 | | |
| 156,026 | |
Weighted average dilutive shares | |
| 18,576,914 | | |
| 18,629,501 | | |
| 18,569,140 | | |
| 17,497,737 | |
| |
| | | |
| | | |
| | | |
| | |
Earnings per share: | |
| | | |
| | | |
| | | |
| | |
Basic | |
$ | 0.13 | | |
$ | 0.03 | | |
$ | 0.33 | | |
$ | 0.19 | |
Diluted | |
$ | 0.04 | | |
$ | 0.01 | | |
$ | 0.11 | | |
$ | 0.06 | |
|
Lease Accounting |
Lease Accounting
In February 2016, the FASB issued ASU 2016-02, “Leases,”
which requires lessees to report on their balance sheets a right-of-use asset and a lease liability in connection with most lease agreements
classified as operating leases under the prior guidance (ASC 840). Under the new guidance, codified as ASC 842, the lease liability must
be measured initially based on the present value of future lease payments, subject to certain conditions. The right-of-use asset must
be measured initially based on the amount of the liability, plus certain initial direct costs. The new guidance further requires that
leases be classified at inception as either (a) operating leases or (b) finance leases. For operating leases, periodic expense is generally
flat (straight-line) throughout the life of the lease. For finance leases, periodic expense declines over the life of the lease. The
new standard, as amended, provides an option for entities to use the cumulative-effect transition method. As permitted, the Company adopted
ASC 842 effective June 1, 2019. The adoption of ASC 842 did not have a material impact on the Company’s consolidated financial
statements.
The Company’s renewed lease for its corporate
headquarters commencing December 1, 2022, under lease agreements classified as an operating lease. Please see Note 11 – “Commitments
and Contingencies” under “Leases” below for more information about the Company’s leases.
|
Segment Reporting |
Segment Reporting
The Company follows ASC 280, “Segment
Reporting.” The Company’s management reviews the Company’s consolidated financial results when making decisions
about allocating resources and assessing the performance of the Company as a whole and has determined that the Company’s reportable
segments are: (a) the sale of hearing protection and hearing enhancement products, and (b) the sale of hair care and skin care products.
See Note 15 – “Business Segment and Geographic Area Information” for more information about the Company’s reportable
segments.
|
Recently Issued Accounting Pronouncements |
Recently Issued Accounting Pronouncements
In August 2020, the FASB issued ASU 2020-06, “Debt
– Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own
Equity,” which simplifies the accounting for certain convertible instruments. Among other things, under ASU 2020-06, the
embedded conversion features no longer must be separated from the host contract for convertible instruments with conversion features
not required to be accounted for as derivatives, or that do not result in substantial premiums accounted for as paid-in capital. ASU
2020-06 also eliminates the use of the treasury stock method when calculating the impact of convertible instruments on diluted Earnings
per Share. For the Company, the provisions of ASU 2020-06 are effective for its fiscal year beginning on June 1, 2024. Early adoption
is permitted, subject to certain limitations. The Company is evaluating the potential impact of adoption on its consolidated financial
statements.
Other accounting standards that have been issued or
proposed by the 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.
|
X |
- References
+ Details
Name: |
axil_CustomerDepositPolicytextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_LiquidityAndCapitalResourcesPolicyTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_PrepaidExpensesAndOtherCurrentAssetsPolicyTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_ReverseStockSplitPolicyTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_ShippingAndHandlingCostsPolicyTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for advertising cost.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -SubTopic 35 -Topic 720 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483406/720-35-50-1
+ Details
Name: |
us-gaap_AdvertisingCostsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
+ References
+ Details
Name: |
us-gaap_BasisOfAccountingPolicyPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for completed business combinations (purchase method, acquisition method or combination of entities under common control). This accounting policy may include a general discussion of the purchase method or acquisition method of accounting (including for example, the treatment accorded contingent consideration, the identification of assets and liabilities, the purchase price allocation process, how the fair values of acquired assets and liabilities are determined) and the entity's specific application thereof. An entity that acquires another entity in a leveraged buyout transaction generally discloses the accounting policy followed by the acquiring entity in determining the basis used to value its interest in the acquired entity, and the rationale for that accounting policy.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 05 -Paragraph 4 -Subparagraph (a)-(d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479515/805-10-05-4
+ Details
Name: |
us-gaap_BusinessCombinationsPolicy |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-1
+ Details
Name: |
us-gaap_CashAndCashEquivalentsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for cost of product sold and service rendered.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 705 -Publisher FASB -URI https://asc.fasb.org//705/tableOfContent
+ Details
Name: |
us-gaap_CostOfSalesPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2
+ Details
Name: |
us-gaap_EarningsPerSharePolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for extended product warranties and other guarantee contracts including the methodology for measuring the liability.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-8
+ Details
Name: |
us-gaap_ExtendedProductWarrantyPolicy |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for determining the fair value of financial instruments.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 60 -Paragraph 1 -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482053/820-10-60-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-1
+ Details
Name: |
us-gaap_FairValueOfFinancialInstrumentsPolicy |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 30 -Topic 350 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1
+ Details
Name: |
us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.CC) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480091/360-10-S99-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 05 -Paragraph 4 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482338/360-10-05-4
+ Details
Name: |
us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(h)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482525/740-10-45-25
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482525/740-10-45-28
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 19 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-20
+ Details
Name: |
us-gaap_IncomeTaxPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483489/210-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-4
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 912 -SubTopic 330 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482105/912-330-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483080/330-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483080/330-10-50-4
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 45 -Paragraph 6 -Subparagraph (a) -SubTopic 10 -Topic 270 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482989/270-10-45-6
+ Details
Name: |
us-gaap_InventoryPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for recording, valuing, and reporting amounts due from lessees pursuant to contractual arrangements, which are secured, at a minimum, by the asset being rented, and in measuring certain revenues, expenses and gains and losses arising from creating, acquiring, collecting, terminating, modifying and holding lease agreements.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 840 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481440/840-10-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 840 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481501/840-20-50-4
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 840 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481161/840-30-50-4
+ Details
Name: |
us-gaap_LoansAndLeasesReceivableLeaseFinancingPolicy |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.
+ References
+ Details
Name: |
us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for reclassification affecting comparability of financial statement. Excludes amendment to accounting standards, other change in accounting principle, and correction of error.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483504/205-10-50-1
+ Details
Name: |
us-gaap_PriorPeriodReclassificationAdjustmentDescription |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for receivable. Includes, but is not limited to, accounts receivable and financing receivable.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481569/310-20-50-4
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481569/310-20-50-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-2
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481569/310-20-50-2
+ Details
Name: |
us-gaap_ReceivablesPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for revenue. Includes revenue from contract with customer and from other sources.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-4
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (e) -SubTopic 10 -Topic 235 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-4
+ Details
Name: |
us-gaap_RevenueRecognitionPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for segment reporting.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482785/280-10-55-47
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
+ Details
Name: |
us-gaap_SegmentReportingPolicyPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(v) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.C.Q3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.D.1.Q5) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.D.3.Q2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.D.2.Q6) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479830/718-10-S99-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-9
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-4
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 11 -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 12 -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-12
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-8
+ Details
Name: |
us-gaap_UseOfEstimates |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Accounting Policies [Abstract] |
|
Schedule of net loss per share |
Schedule of net loss per share | |
| | | |
| | | |
| | | |
| | |
| |
For the Three Months Ended | |
For the Nine Months Ended |
| |
February 29, | |
February 28, | |
February 29, | |
February 28, |
| |
2024 | |
2023 | |
2024 | |
2023 |
| |
| |
| |
| |
|
Net income | |
$ | 781,091 | | |
$ | 162,048 | | |
$ | 1,953,618 | | |
$ | 1,064,475 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted average basic shares | |
| 5,863,939 | | |
| 5,849,501 | | |
| 5,863,939 | | |
| 5,574,312 | |
Dilutive securities: | |
| | | |
| | | |
| | | |
| | |
Convertible preferred stock | |
| 12,500,000 | | |
| 12,500,000 | | |
| 12,500,000 | | |
| 11,767,399 | |
Stock options | |
| 212,975 | | |
| 280,000 | | |
| 205,201 | | |
| 156,026 | |
Weighted average dilutive shares | |
| 18,576,914 | | |
| 18,629,501 | | |
| 18,569,140 | | |
| 17,497,737 | |
| |
| | | |
| | | |
| | | |
| | |
Earnings per share: | |
| | | |
| | | |
| | | |
| | |
Basic | |
$ | 0.13 | | |
$ | 0.03 | | |
$ | 0.33 | | |
$ | 0.19 | |
Diluted | |
$ | 0.04 | | |
$ | 0.01 | | |
$ | 0.11 | | |
$ | 0.06 | |
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
+ Details
Name: |
us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Accounts Receivable, net (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Credit Loss [Abstract] |
|
Schedule of accounts receivable |
Schedule of accounts receivable | |
| |
|
| |
February 29, 2024 | |
May 31, 2023 |
Customers Receivable | |
$ | 913,024 | | |
$ | 345,264 | |
Merchant Processor Receivable | |
| 40,786 | | |
| 167,232 | |
Less: Allowance for Doubtful Debts | |
| (234,306 | ) | |
| (95,480 | ) |
Accounts receivable, net | |
$ | 719,504 | | |
$ | 417,016 | |
|
X |
- References
+ Details
Name: |
us-gaap_CreditLossAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Inventory, net (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Inventory Disclosure [Abstract] |
|
Schedule of inventory |
Schedule of inventory | |
| |
|
| |
February 29, 2024 | |
May 31, 2023 |
Finished Goods | |
$ | 3,257,573 | | |
$ | 1,198,218 | |
Raw Materials | |
| 185,720 | | |
| 113,646 | |
Inventory, net | |
$ | 3,443,293 | | |
$ | 1,311,864 | |
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483489/210-10-50-1
+ Details
Name: |
us-gaap_ScheduleOfInventoryCurrentTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Property and Equipment (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Property, Plant and Equipment [Abstract] |
|
Schedule of property and equipment |
Schedule of property and equipment |
|
|
|
|
|
|
|
|
|
|
Estimated Life |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Furniture and Fixtures |
|
5 years |
|
$ |
25,644 |
|
|
$ |
14,598 |
|
Computer Equipment |
|
3 years |
|
|
30,968 |
|
|
|
33,146 |
|
Plant Equipment |
|
5-10 years |
|
|
216,738 |
|
|
|
165,778 |
|
Automobile |
|
5 years |
|
|
15,000 |
|
|
|
15,000 |
|
Tractor Trailer |
|
15 years |
|
|
9,347 |
|
|
|
- |
|
Less: Accumulated Depreciation |
|
|
|
|
(85,551 |
) |
|
|
(71,059 |
) |
Total Property and Equipment, net |
|
|
|
$ |
212,146 |
|
|
$ |
157,463 |
|
|
X |
- References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Intangible Assets (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Goodwill and Intangible Assets Disclosure [Abstract] |
|
Schedule of intangible assets |
Schedule of intangible assets |
|
|
|
|
|
|
|
|
|
|
Estimated Life |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Licensing rights |
|
3 years |
|
$ |
11,945 |
|
|
$ |
11,945 |
|
Customer Relationships |
|
3 years |
|
|
70,000 |
|
|
|
70,000 |
|
Trade Names |
|
10 years |
|
|
275,000 |
|
|
|
275,000 |
|
Website |
|
5 years |
|
|
100,000 |
|
|
|
100,000 |
|
Less: Accumulated Amortization |
|
|
|
|
(132,396 |
) |
|
|
(74,271 |
) |
Total Intangible Assets, net |
|
|
|
$ |
324,549 |
|
|
$ |
382,674 |
|
|
X |
- References
+ Details
Name: |
us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of impaired intangible assets excluding goodwill. This may include a description of the facts and circumstances leading to the recording of impairment charges of intangible assets in the period, the amount of the impairment charges, the methods of determining fair value of the associated assets, the caption in the income statement in which the impairment losses are aggregated, and the segment in which the impaired intangible assets are reported.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-3
+ Details
Name: |
us-gaap_ScheduleOfImpairedIntangibleAssetsTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Other Current Liabilities (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Payables and Accruals [Abstract] |
|
Schedule of other current liabilities |
Schedule of other current liabilities |
|
|
|
|
|
|
|
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Credit Cards |
|
$ |
17,470 |
|
|
$ |
833 |
|
Accrued Interest |
|
|
— |
|
|
|
10,343 |
|
Royalty Payment Accrual |
|
|
10,551 |
|
|
|
8,792 |
|
Sales Tax Payable |
|
|
277,992 |
|
|
|
240,559 |
|
Other Accrued Expenses |
|
|
1,781 |
|
|
|
17,464 |
|
Affiliate Accrual |
|
|
— |
|
|
|
27,673 |
|
Total Other Current Liabilities |
|
$ |
307,794 |
|
|
$ |
305,664 |
|
|
X |
- DefinitionTabular disclosure of other current liabilities.
+ References
+ Details
Name: |
us-gaap_OtherCurrentLiabilitiesTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_PayablesAndAccrualsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Notes Payable (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Debt Disclosure [Abstract] |
|
Schedule of notes payable |
Schedule of notes payable |
|
|
|
|
|
|
Notes Payable as of |
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Insurance Financing |
|
$ |
— |
|
|
$ |
21,335 |
|
Financing Charges |
|
|
— |
|
|
|
1,253 |
|
Economic Injury Disaster Loan Program (EIDL) |
|
|
147,150 |
|
|
|
150,000 |
|
Total |
|
|
147,150 |
|
|
|
172,588 |
|
Less: Current portion |
|
|
(3,310 |
) |
|
|
(172,588 |
) |
Non-current portion |
|
$ |
143,840 |
|
|
$ |
— |
|
|
X |
- References
+ Details
Name: |
us-gaap_DebtDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.
+ References
+ Details
Name: |
us-gaap_ScheduleOfDebtTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Stockholders’ Equity (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Equity [Abstract] |
|
Schedule of summarizes relating to the company’s stock |
Schedule of summarizes relating to the company’s stock |
|
|
|
|
|
|
|
|
|
|
|
Number of Options |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Remaining Term |
|
|
|
|
|
|
|
|
|
|
|
Outstanding at May 31, 2022 |
|
|
265,000 |
|
|
$ |
1.80 |
|
|
|
10.0 |
|
Granted |
|
|
15,000 |
|
|
$ |
1.80 |
|
|
|
9.68 |
|
Less: Forfeited |
|
|
(11,250 |
) |
|
$ |
4.00 |
|
|
|
9.68 |
|
Outstanding at May 31, 2023 |
|
|
268,750 |
|
|
$ |
1.80 |
|
|
|
8.92 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Less: Forfeited |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding at February 29, 2024 |
|
|
268,750 |
|
|
$ |
1.80 |
|
|
|
8.17 |
|
Less: Unvested at February 29, 2024 |
|
|
(74,531 |
) |
|
$ |
1.80 |
|
|
|
8.17 |
|
Vested at February 29, 2024 |
|
|
194,219 |
|
|
$ |
1.80 |
|
|
|
8.17 |
|
|
X |
- References
+ Details
Name: |
axil_ScheduleofsummarizesrelatingcompanysstockoptionsTableTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Commitments and Contingencies (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Commitments and Contingencies Disclosure [Abstract] |
|
Schedule of supplemental balance sheet information |
Schedule of supplemental balance sheet information |
|
|
|
|
|
|
|
|
February 29, 2024 |
|
|
May 31,
2023 |
|
Assets |
|
|
|
|
|
|
|
|
Right of use assets |
|
$ |
131,970 |
|
|
$ |
131,970 |
|
Accumulated reduction |
|
|
(78,746 |
) |
|
|
(30,125 |
) |
Operating lease assets, net |
|
$ |
53,224 |
|
|
$ |
101,845 |
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
Lease liability |
|
$ |
131,970 |
|
|
$ |
131,970 |
|
Accumulated reduction |
|
|
(77,648 |
) |
|
|
(29,394 |
) |
Total lease liability, net |
|
|
54,322 |
|
|
|
102,576 |
|
Current portion |
|
|
(54,322 |
) |
|
|
(65,824 |
) |
Non-current portion |
|
$ |
— |
|
|
$ |
36,752 |
|
|
Schedule of maturities of operating lease liabilities |
Schedule of maturities of operating lease liabilities |
|
|
|
Operating Lease (fiscal year-end) |
|
|
|
2024 |
|
$ |
19,025 |
|
2025 |
|
|
38,049 |
|
Total |
|
$ |
57,074 |
|
Less: Imputed interest |
|
|
(2,752 |
) |
Present value of lease liabilities |
|
$ |
54,322 |
|
|
X |
- References
+ Details
Name: |
axil_ScheduleOfSupplementalBalanceSheetInformationTableTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Business Combination (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Business Combination and Asset Acquisition [Abstract] |
|
Schedule of estimated fair value of the assets acquired |
Schedule of estimated fair value of the assets acquired |
|
|
|
Cash |
|
$ |
1,066,414 |
|
Accounts receivable |
|
|
227,786 |
|
Inventory |
|
|
1,342,461 |
|
Prepaid expenses |
|
|
62,452 |
|
Other assets |
|
|
108,030 |
|
Accounts payable |
|
|
(285,665 |
) |
Contract liabilities |
|
|
(1,043,332 |
) |
Other current liabilities |
|
|
(79,826 |
) |
Net tangible assets acquired |
|
$ |
1,398,320 |
|
|
|
|
|
|
Identifiable intangible assets |
|
|
|
|
Licensing rights |
|
$ |
11,945 |
|
Customer relationships |
|
|
70,000 |
|
Tradenames |
|
|
275,000 |
|
Website |
|
|
100,000 |
|
Total Identifiable intangible assets |
|
$ |
456,945 |
|
|
|
|
|
|
Consideration paid |
|
$ |
4,007,480 |
|
Total net assets acquired |
|
|
1,855,265 |
|
Goodwill purchased |
|
$ |
2,152,215 |
|
|
X |
- References
+ Details
Name: |
us-gaap_BusinessCombinationAndAssetAcquisitionAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Concentrations (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Risks and Uncertainties [Abstract] |
|
Schedule of sales by product line |
Schedule of sales by product line | |
| | | |
| | |
| |
For the Nine Months Ended |
| |
February 29, | |
February 28, |
Hair Care Products | |
2024 | |
2023 |
Shampoo | |
| 25 | % | |
| 21 | % |
Shampoos and Conditioners | |
| 7 | % | |
| 11 | % |
Conditioner | |
| 25 | % | |
| 8 | % |
Bundle Kits | |
| 24 | % | |
| 49 | % |
Ancillary Products | |
| 19 | % | |
| 11 | % |
Total | |
| 100 | % | |
| 100 | % |
|
Schedule of sales by product comprised |
Schedule of sales by product comprised | |
| | | |
| | |
| |
For the Nine Months Ended |
| |
February 29, | |
February 28, |
Ear Protection & Enhancement Products | |
2024 | |
2023 |
Ghost Stryke | |
| 52.8 | % | |
| 89.9 | % |
Trackr earmuffs | |
| 13.0 | % | |
| 9.0 | % |
Other Bluetooth and ear buds | |
| 33.1 | % | |
| 1.0 | % |
Accessories, other | |
| 1.1 | % | |
| 0.1 | % |
Total | |
| 100.0 | % | |
| 100.0 | % |
|
X |
- References
+ Details
Name: |
axil_ScheduleOfSalesByProductComprisedTableTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_ScheduleOfSalesByProductLineTableTextBlock |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_RisksAndUncertaintiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Business Segment and Geographic Area Information (Tables)
|
9 Months Ended |
Feb. 29, 2024 |
Segment Reporting [Abstract] |
|
Schedule of segment information |
Schedule of segment information | |
| | | |
| | | |
| | | |
| | |
| |
Three Months Ended | |
Nine Months Ended |
| |
February 29, | |
February 28, | |
February 29, | |
February 28, |
Net Sales | |
2024 | |
2023 | |
2024 | |
2023 |
Hair care and skin care | |
$ | 476,864 | | |
$ | 302,415 | | |
$ | 1,022,458 | | |
$ | 1,206,385 | |
Hearing enhancement and protection | |
| 5,992,479 | | |
| 5,354,046 | | |
| 19,974,831 | | |
| 15,419,433 | |
Total net sales | |
$ | 6,469,343 | | |
$ | 5,656,461 | | |
$ | 20,997,289 | | |
$ | 16,625,818 | |
| |
| | | |
| | | |
| | | |
| | |
Operating earnings (loss) | |
| | | |
| | | |
| | | |
| | |
Segment gross profit: | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 247,859 | | |
$ | 202,016 | | |
$ | 641,966 | | |
$ | 842,447 | |
Hearing enhancement and protection | |
| 4,376,467 | | |
| 4,016,469 | | |
| 14,887,865 | | |
| 11,697,726 | |
Total segment gross profit | |
$ | 4,624,326 | | |
$ | 4,218,485 | | |
$ | 15,529,831 | | |
$ | 12,540,173 | |
Selling and Marketing | |
| 3,398,949 | | |
| 3,173,383 | | |
| 10,278,570 | | |
| 8,250,257 | |
General and Administrative | |
| 1,329,256 | | |
| 828,513 | | |
| 3,917,471 | | |
| 2,888,931 | |
Consolidated operating income (loss) | |
$ | (103,879 | ) | |
$ | 216,588 | | |
$ | 1,333,790 | | |
$ | 1,400,984 | |
| |
| | | |
| | | |
| | | |
| | |
Total Assets: | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 4,232,913 | | |
$ | 1,243,359 | | |
$ | 4,232,913 | | |
$ | 1,243,359 | |
Hearing enhancement and protection | |
| 8,480,805 | | |
| 8,047,093 | | |
| 8,480,805 | | |
| 8,047,093 | |
Consolidated total assets | |
$ | 12,713,718 | | |
$ | 9,290,452 | | |
$ | 12,713,718 | | |
$ | 9,290,452 | |
| |
| | | |
| | | |
| | | |
| | |
Payments for property and equipment | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
Hearing enhancement and protection | |
| 9,347 | | |
| 11,250 | | |
| 80,192 | | |
| 65,650 | |
Consolidated total payments for property and equipment | |
$ | 9,347 | | |
$ | 11,250 | | |
$ | 80,192 | | |
$ | 65,650 | |
| |
| | | |
| | | |
| | | |
| | |
Depreciation and amortization | |
| | | |
| | | |
| | | |
| | |
Hair care and skin care | |
$ | 1,417 | | |
$ | 1,417 | | |
$ | 4,251 | | |
$ | 4,258 | |
Hearing enhancement and protection | |
| 26,197 | | |
| 22,512 | | |
| 79,383 | | |
| 62,686 | |
Consolidated total depreciation and amortization | |
$ | 27,614 | | |
$ | 23,929 | | |
$ | 83,634 | | |
$ | 66,944 | |
|
X |
- DefinitionTabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
+ Details
Name: |
us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_SegmentReportingAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)
|
3 Months Ended |
9 Months Ended |
Feb. 29, 2024 |
Feb. 28, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
Accounting Policies [Abstract] |
|
|
|
|
Net income |
$ 781,091
|
$ 162,048
|
$ 1,953,618
|
$ 1,064,475
|
Weighted average basic shares |
5,863,939
|
5,849,501
|
5,863,939
|
5,574,312
|
Dilutive securities: |
|
|
|
|
Convertible preferred stock |
12,500,000
|
12,500,000
|
12,500,000
|
11,767,399
|
Stock options |
212,975
|
280,000
|
205,201
|
156,026
|
Weighted average dilutive shares |
18,576,914
|
18,629,501
|
18,569,140
|
17,497,737
|
Earnings per share: |
|
|
|
|
Basic |
$ 0.13
|
$ 0.03
|
$ 0.33
|
$ 0.19
|
Diluted |
$ 0.04
|
$ 0.01
|
$ 0.11
|
$ 0.06
|
X |
- References
+ Details
Name: |
axil_WeightedAverageBasicShares |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_WeightedAverageDilutiveShares |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_DilutiveSecuritiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-10
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(27)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-7
+ Details
Name: |
us-gaap_EarningsPerShareBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(27)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-7
+ Details
Name: |
us-gaap_EarningsPerShareDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAdditional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of call options and warrants using the treasury stock method.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-22
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 23 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-23
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-26
+ Details
Name: |
us-gaap_IncrementalCommonSharesAttributableToCallOptionsAndWarrants |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAdditional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of convertible preferred stock using the if-converted method.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-42
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 40 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-40
+ Details
Name: |
us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9
Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-11
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 205 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480767/946-205-45-3
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-7
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(1)(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 19 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-19
Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-6
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 29: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-05(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1
Reference 32: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483499/205-20-50-7
Reference 33: http://www.xbrl.org/2003/role/exampleRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 4J -Publisher FASB -URI https://asc.fasb.org//1943274/2147481175/810-10-55-4J
Reference 34: http://www.xbrl.org/2003/role/exampleRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 4K -Publisher FASB -URI https://asc.fasb.org//1943274/2147481175/810-10-55-4K
Reference 35: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A
Reference 36: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B
Reference 37: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-2
Reference 38: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A
Reference 39: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A
+ Details
Name: |
us-gaap_ProfitLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.24.1.u1
Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) - USD ($)
|
3 Months Ended |
9 Months Ended |
|
Feb. 29, 2024 |
Feb. 28, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
May 31, 2023 |
Restructuring Cost and Reserve [Line Items] |
|
|
|
|
|
Professional and consulting expenses |
|
|
$ 12,000
|
$ 76,000
|
|
Accumulated Deficit |
$ 1,513,374
|
|
1,513,374
|
|
$ 3,466,992
|
Contract liabilities |
1,421,558
|
|
$ 1,421,558
|
|
$ 1,433,048
|
Contract Liabilities Description |
|
|
contract liabilities associated
with product invoiced but not received by customers at the balance sheet date was $0 and $0, respectively; contract liabilities associated
with unfulfilled performance obligations for warranty services offered for a period of one, two and three years was $1,293,627 and $1,320,401,
respectively, and contract liabilities associated with unfulfilled performance obligations for customers’ right of return was $127,931
and $112,647, respectively. Our contract liabilities amounts are expected to be recognized over a period of between one year to three
years. Approximately $880,450 will be recognized in year one, $455,170 will be
recognized in year two, and $85,938 will be recognized in year three.
|
|
|
Marketing and selling expense |
3,398,949
|
$ 3,173,383
|
$ 10,278,570
|
8,250,257
|
|
Impairment loss |
|
|
0
|
0
|
|
Customer [Member] |
|
|
|
|
|
Restructuring Cost and Reserve [Line Items] |
|
|
|
|
|
Marketing and selling expense |
313,318
|
$ 283,237
|
$ 807,333
|
$ 790,759
|
|
AXIL [Member] |
|
|
|
|
|
Restructuring Cost and Reserve [Line Items] |
|
|
|
|
|
Revenue recognition |
$ 259,201
|
|
|
|
|
X |
- References
+ Details
Name: |
axil_ContractLiabilitiesDescription |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_RevenueRecognition |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of obligation to transfer good or service to customer for which consideration has been received or is receivable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479837/606-10-45-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-8
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479837/606-10-45-2
+ Details
Name: |
us-gaap_ContractWithCustomerLiability |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of an intangible asset (excluding goodwill) to fair value.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -SubTopic 30 -Topic 350 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-3
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionProfessional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support.
+ References
+ Details
Name: |
us-gaap_ProfessionalAndContractServicesExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1
+ Details
Name: |
us-gaap_RestructuringCostAndReserveLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of accumulated undistributed earnings (deficit).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-11
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(23)(a)(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(17)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)(a)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe aggregate total amount of expenses directly related to the marketing or selling of products or services.
+ References
+ Details
Name: |
us-gaap_SellingAndMarketingExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_CustomerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_BusinessAcquisitionAxis=axil_AxilMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
Accounts Receivable, net (Details) - USD ($)
|
Feb. 29, 2024 |
May 31, 2023 |
Credit Loss [Abstract] |
|
|
Customers Receivable |
$ 913,024
|
$ 345,264
|
Merchant Processor Receivable |
40,786
|
167,232
|
Less: Allowance for Doubtful Debts |
(234,306)
|
(95,480)
|
Accounts receivable, net |
$ 719,504
|
$ 417,016
|
X |
- References
+ Details
Name: |
axil_CustomersReceivable |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_MerchantProcessorReceivable |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 310 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480833/946-310-45-1
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(5)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 310 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481058/954-310-45-1
+ Details
Name: |
us-gaap_AccountsReceivableNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of allowance for credit loss on accounts receivable.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479344/326-20-45-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-4
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13
+ Details
Name: |
us-gaap_AllowanceForDoubtfulAccountsReceivable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_CreditLossAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Accounts Receivable, net (Details Narrative) - USD ($)
|
3 Months Ended |
9 Months Ended |
Feb. 29, 2024 |
Feb. 28, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
Credit Loss [Abstract] |
|
|
|
|
Bad debt expense |
$ 79,068
|
$ 119,757
|
$ 143,395
|
$ 13,782
|
X |
- References
+ Details
Name: |
us-gaap_CreditLossAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of expense (reversal of expense) for expected credit loss on accounts receivable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_ProvisionForDoubtfulAccounts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.u1
Inventory, net (Details) - USD ($)
|
Feb. 29, 2024 |
May 31, 2023 |
Inventory Disclosure [Abstract] |
|
|
Finished Goods |
$ 3,257,573
|
$ 1,198,218
|
Raw Materials |
185,720
|
113,646
|
Inventory, net |
$ 3,443,293
|
$ 1,311,864
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InventoryFinishedGoods |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InventoryNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount before valuation and LIFO reserves of raw materials expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InventoryRawMaterials |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.u1
X |
- References
+ Details
Name: |
axil_InventoryHeldAtThirdPartyLocation |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionInventories not expected to be converted to cash, sold or exchanged within the normal operating cycle.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(17)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InventoryNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of valuation reserve for inventory.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.BB) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480581/330-10-S99-2
+ Details
Name: |
us-gaap_InventoryValuationReserves |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionGross amount of merchandise or supplies to which the entity holds the title but does not hold physical possession because the goods are currently being transported.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_OtherInventoryInTransit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.u1
Property and Equipment (Details) - USD ($)
|
Feb. 29, 2024 |
May 31, 2023 |
Feb. 28, 2023 |
Property, Plant and Equipment [Line Items] |
|
|
|
Less:Accumulated Depreciation |
$ (85,551)
|
$ (71,059)
|
|
Property and equipment, net |
$ 212,146
|
157,463
|
|
Furniture and Fixtures [Member] |
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
Estimated Life |
5 years
|
|
|
Plant Equipment |
$ 25,644
|
14,598
|
|
Computer Equipment [Member] |
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
Estimated Life |
3 years
|
|
|
Plant Equipment |
$ 30,968
|
33,146
|
|
Property, Plant and Equipment [Member] |
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
Plant Equipment |
$ 216,738
|
165,778
|
|
Property, Plant and Equipment [Member] | Minimum [Member] |
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
Estimated Life |
5 years
|
|
|
Property, Plant and Equipment [Member] | Maximum [Member] |
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
Estimated Life |
10 years
|
|
|
Automobiles [Member] |
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
Estimated Life |
5 years
|
|
|
Plant Equipment |
$ 15,000
|
$ 15,000
|
|
Tractor Trailer [Member] |
|
|
|
Property, Plant and Equipment [Line Items] |
|
|
|
Estimated Life |
15 years
|
|
|
Plant Equipment |
$ 9,347
|
|
|
X |
- DefinitionAmount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(14)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 360 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480842/942-360-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionUseful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.
+ References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentUsefulLife |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ComputerEquipmentMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_PropertyPlantAndEquipmentMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_RangeAxis=srt_MinimumMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_RangeAxis=srt_MaximumMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_AutomobilesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=axil_TractorTrailerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
X |
- DefinitionThe amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_Depreciation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Intangible Assets (Details) - USD ($)
|
Feb. 29, 2024 |
May 31, 2023 |
Finite-Lived Intangible Assets [Line Items] |
|
|
Less: Accumulated Amortization |
$ (132,396)
|
$ (74,271)
|
Finite-lived Intangible Assets, Net |
$ 324,549
|
382,674
|
Licensing Rights [Member] |
|
|
Finite-Lived Intangible Assets [Line Items] |
|
|
Estimated Life |
3 years
|
|
Finite-lived Intangible Assets, Gross |
$ 11,945
|
11,945
|
Customer Relationships [Member] |
|
|
Finite-Lived Intangible Assets [Line Items] |
|
|
Estimated Life |
3 years
|
|
Finite-lived Intangible Assets, Gross |
$ 70,000
|
70,000
|
Trade Names [Member] |
|
|
Finite-Lived Intangible Assets [Line Items] |
|
|
Estimated Life |
10 years
|
|
Finite-lived Intangible Assets, Gross |
$ 275,000
|
275,000
|
Website [Member] |
|
|
Finite-Lived Intangible Assets [Line Items] |
|
|
Estimated Life |
5 years
|
|
Finite-lived Intangible Assets, Gross |
$ 100,000
|
$ 100,000
|
X |
- DefinitionUseful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ References
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetUsefulLife |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAccumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 928 -SubTopic 340 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483147/928-340-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 926 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483154/926-20-50-5
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 926 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483154/926-20-50-5
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2
+ Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=axil_LicensingRightsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_CustomerRelationshipsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_TradeNamesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=axil_WebsiteMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
Intangible Assets (Details Narrative) - USD ($)
|
3 Months Ended |
9 Months Ended |
|
Feb. 29, 2024 |
Feb. 28, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
Jun. 16, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] |
|
|
|
|
|
Goodwill |
$ 2,152,215
|
|
$ 2,152,215
|
|
$ 2,152,215
|
Amortization of Intangible Assets |
$ 19,375
|
$ 19,376
|
$ 58,126
|
$ 54,898
|
|
X |
- DefinitionThe aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482686/350-30-45-2
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2
+ Details
Name: |
us-gaap_AmortizationOfIntangibleAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount recognized for assets, including goodwill, in excess of (less than) the aggregate liabilities assumed.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Other Current Liabilities (Details) - USD ($)
|
Feb. 29, 2024 |
May 31, 2023 |
Payables and Accruals [Abstract] |
|
|
Credit Cards |
$ 17,470
|
$ 833
|
Accrued Interest |
|
10,343
|
Royalty Payment Accrual |
10,551
|
8,792
|
Sales Tax Payable |
277,992
|
240,559
|
Other Accrued Expenses |
1,781
|
17,464
|
Affiliate Accrual |
|
27,673
|
Total Other Current Liabilities |
$ 307,794
|
$ 305,664
|
X |
- References
+ Details
Name: |
axil_AccruedInterest |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_AffiliateAccrual |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_CreditCards |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_RoyaltyPaymentAccrual |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionCarrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_AccruedLiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of liabilities classified as other.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(12)(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(12)(b)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(15)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(12)(b)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.15) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
+ Details
Name: |
us-gaap_OtherLiabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_PayablesAndAccrualsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCarrying value as of the balance sheet date of liabilities incurred through that date and payable for statutory sales and use taxes, including value added tax. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_SalesAndExciseTaxPayableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.24.1.u1
X |
- References
+ Details
Name: |
axil_DisclosureEquipmentPayableAbstract |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_EquipmentPayable |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of the cost of borrowed funds accounted for as interest expense for debt.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69F -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.8) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-6
+ Details
Name: |
us-gaap_InterestExpenseDebt |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.24.1.u1
Notes Payable (Details) - USD ($)
|
Feb. 29, 2024 |
May 31, 2023 |
Guarantor Obligations [Line Items] |
|
|
Total |
$ 147,150
|
$ 172,588
|
Less: Current portion |
(3,310)
|
(172,588)
|
Non-current portion |
143,840
|
|
Insurance Financing [Member] |
|
|
Guarantor Obligations [Line Items] |
|
|
Total |
|
21,335
|
Financing Charges [Member] |
|
|
Guarantor Obligations [Line Items] |
|
|
Total |
|
1,253
|
Economic Injury Disaster Loan Program [Member] |
|
|
Guarantor Obligations [Line Items] |
|
|
Total |
$ 147,150
|
$ 150,000
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-4
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-4
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-4
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-4
+ Details
Name: |
us-gaap_GuaranteeObligationsLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCarrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_LongTermNotesPayable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionIncluding the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
+ Details
Name: |
us-gaap_NotesPayable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_NotesPayableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_UnderlyingAssetClassAxis=axil_InsuranceFinancingMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_UnderlyingAssetClassAxis=axil_FinancingChargesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_UnderlyingAssetClassAxis=axil_EconomicInjuryDisasterLoanProgramMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
Notes Payable (Details Narrative) - Economic Injury Disaster Loan Program [Member] - USD ($)
|
1 Months Ended |
12 Months Ended |
|
|
|
May 18, 2020 |
May 31, 2022 |
Feb. 29, 2024 |
May 31, 2023 |
May 31, 2020 |
Debt Instrument [Line Items] |
|
|
|
|
|
Face Amount |
|
|
|
|
$ 150,000
|
Interest rate |
3.75%
|
|
|
|
|
Additional borrowings |
|
$ 10,000
|
|
|
|
Loan forgiveness |
|
$ 10,000
|
|
|
|
Interest receivable |
|
|
$ 437
|
$ 437
|
|
Interest receivable |
|
|
$ 10,343
|
$ 10,343
|
|
X |
- References
+ Details
Name: |
axil_LoanForgiveness |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionFace (par) amount of debt instrument at time of issuance.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482900/835-30-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B
Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69C -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8
+ Details
Name: |
us-gaap_DebtInstrumentFaceAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe average effective interest rate during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_DebtInstrumentInterestRateDuringPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482900/835-30-50-1
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(f)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69C -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E
Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69F -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E
Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I
+ Details
Name: |
us-gaap_DebtInstrumentLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCarrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InterestPayableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionCarrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 310 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480833/946-310-45-1
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)(a)(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InterestReceivable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-14
+ Details
Name: |
us-gaap_ProceedsFromIssuanceOfDebt |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_LongtermDebtTypeAxis=axil_EconomicInjuryDisasterLoanProgramMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
Stockholders' Equity (Details) - $ / shares
|
1 Months Ended |
9 Months Ended |
12 Months Ended |
Jan. 29, 2023 |
Feb. 29, 2024 |
May 31, 2023 |
Equity [Abstract] |
|
|
|
Number of option outstanding, beginning |
|
268,750
|
265,000
|
Weighted average exercise price, beginning |
|
$ 1.80
|
$ 1.80
|
Weighted average remaining term, beginning |
|
|
10 years
|
Number of option outstanding, granted |
|
|
15,000
|
Weighted average exercise price, granted |
|
|
$ 1.80
|
Weighted average remaining term, granted |
|
|
9 years 8 months 4 days
|
Number of option outstanding, forfeited |
|
|
(11,250)
|
Weighted average exercise price, forfeited |
|
|
$ 4.00
|
Weighted average remaining term, forfeited |
|
|
9 years 8 months 4 days
|
Number of option outstanding, ending |
|
268,750
|
268,750
|
Weighted average exercise price, ending |
|
$ 1.80
|
$ 1.80
|
Weighted average remaining term, ending |
|
8 years 2 months 1 day
|
8 years 11 months 1 day
|
Number of option outstanding, forfeited |
|
|
11,250
|
Number of option unvested |
|
(74,531)
|
|
Unvested weighted average exercise price |
|
$ 1.80
|
|
Unvested weighted average remaining term |
|
8 years 2 months 1 day
|
|
Vested number of option |
3,750
|
194,219
|
|
Vested weighted average exercise price |
|
$ 1.80
|
|
Vested weighted average remaining term |
|
8 years 2 months 1 day
|
|
X |
- References
+ Details
Name: |
axil_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_VestedWeightedAverageRemainingTerm |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_WeightedAverageRemainingTermForfeited |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_WeightedAverageRemainingTermGranted |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(03) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNet number of share options (or share units) granted during the period.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of options outstanding, including both vested and non-vested options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWeighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWeighted-average exercise price, at which grantee can acquire shares reserved for issuance, for fully vested and expected to vest options outstanding. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWeighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(03) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average per share amount at which grantees can acquire shares of common stock by exercise of options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of non-vested options outstanding.
+ References
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWeighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of options vested.
+ References
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average grant-date fair value of options vested.
+ References
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.24.1.u1
Stockholders’ Equity (Details Narrative) - USD ($)
|
1 Months Ended |
3 Months Ended |
9 Months Ended |
12 Months Ended |
|
|
|
Feb. 14, 2024 |
Apr. 30, 2023 |
Jan. 29, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
May 31, 2023 |
Nov. 01, 2022 |
May 31, 2022 |
May 10, 2022 |
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
Common stock, shares authorized |
|
|
|
450,000,000
|
|
450,000,000
|
|
450,000,000
|
|
|
|
Common stock, par or stated value per share |
|
|
|
$ 0.0001
|
|
$ 0.0001
|
|
$ 0.0001
|
|
|
|
Preferred stock, shares authorized |
|
|
|
300,000,000
|
|
300,000,000
|
|
300,000,000
|
|
|
|
Preferred stock, par or stated value per share |
|
|
|
$ 0.0001
|
|
$ 0.0001
|
|
$ 0.0001
|
|
|
|
Preferred stock, shares issued |
|
|
|
250,000,000
|
|
250,000,000
|
|
250,000,000
|
|
|
|
Preferred stock, shares outstanding |
|
|
|
250,000,000
|
|
250,000,000
|
|
250,000,000
|
|
|
|
Common stock, shares issued |
|
|
|
5,878,939
|
|
5,878,939
|
|
5,863,939
|
|
|
|
Common stock, shares outstanding |
|
|
|
5,878,939
|
|
5,878,939
|
|
5,863,939
|
|
|
|
Common stock, voting rights |
|
|
|
|
|
The
Reverse Stock Split as more fully discussed in Note 1, did not change the par value of the common stock, modify any voting rights or
other terms of the common stock, or change the number of authorized shares of the Company. Any fractional shares remaining after the
Reverse Stock Split were rounded up to the nearest whole share.
|
|
|
|
|
|
Number of restricted stock awards issued |
|
|
|
|
|
15,000
|
|
|
|
|
|
Number of option issued |
|
|
|
|
|
|
|
|
15,000
|
|
265,000
|
Exercise price |
|
|
|
$ 1.80
|
|
$ 1.80
|
|
$ 1.80
|
$ 4.00
|
$ 1.80
|
$ 1.80
|
Shares vested |
|
|
3,750
|
|
|
194,219
|
|
|
|
|
|
Aggregate grant date fair value |
|
|
|
$ 477,000
|
|
$ 477,000
|
|
|
|
|
|
Stock-based compensation expense |
|
|
|
$ 51,105
|
$ 30,922
|
153,320
|
$ 155,067
|
|
|
|
|
Shares forfeited |
|
1,250
|
|
|
|
|
|
|
|
|
|
Number of restricted stock value |
|
|
|
|
|
$ 7,994
|
$ 0
|
|
|
|
|
Three Board Members [Member] |
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
Number of restricted stock awards issued |
5,000
|
|
|
|
|
|
|
|
|
|
|
Number of restricted stock value |
$ 195,000
|
|
|
|
|
|
|
|
|
|
|
Director [Member] |
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
Number of restricted stock awards vested |
15,000
|
|
|
|
|
|
|
|
|
|
|
Non-voting Series A Preferred Stock [Member] |
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
Shares issued during the period |
|
|
|
|
|
|
|
250,000,000
|
|
|
|
Shares issued value during the period |
|
|
|
|
|
|
|
$ 3,100,000
|
|
|
|
X |
- References
+ Details
Name: |
axil_AggregateGrantDateFairValue |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_NumberOfOptionIssued |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_NumberOfRestrictedStockAwardsVested |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 272 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483014/272-10-45-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 272 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482987/272-10-50-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(i)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(i)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(i)(2)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(i)(2)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
+ Details
Name: |
us-gaap_ClassOfStockLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFace amount or stated value per share of common stock.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionDescription of voting rights of common stock. Includes eligibility to vote and votes per share owned. Include also, if any, unusual voting rights.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3
+ Details
Name: |
us-gaap_CommonStockVotingRights |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWeighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of non-vested options forfeited.
+ References
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of options vested.
+ References
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of new stock issued during the period.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(i)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesNewIssues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEquity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-11
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 205 -Name Accounting Standards Codification -Section 45 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480767/946-205-45-4
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodValueNewIssues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionValue of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of noncash expense for option under share-based payment arrangement.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_StockOptionPlanExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
srt_TitleOfIndividualAxis=axil_ThreeBoardMembersMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_TitleOfIndividualAxis=srt_DirectorMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementClassOfStockAxis=axil_NonVotingSeriesAPreferredStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
Commitments and Contingencies (Details) - USD ($)
|
Feb. 29, 2024 |
May 31, 2023 |
Assets |
|
|
Right of use assets |
$ 131,970
|
$ 131,970
|
Accumulated reduction |
(78,746)
|
(30,125)
|
Operating lease assets, net |
53,224
|
101,845
|
Liabilities |
|
|
Lease liability |
131,970
|
131,970
|
Accumulated reduction |
(77,648)
|
(29,394)
|
Total lease liability, net |
54,322
|
102,576
|
Current portion |
54,322
|
65,824
|
Non-current portion |
|
$ 36,752
|
X |
- References
+ Details
Name: |
axil_AccumulatedReduction |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_LeaseLiability |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_OperatingLeaseLiabilityCurrentPortion |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_OperatingLeaseLiabilityNonCurrentPortion |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_OperatingLeaseRightOfUseAssetAccumulatedAmortization |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_RightOfUseAssets |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_AssetsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_LiabilitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiability |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's right to use underlying asset under operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseRightOfUseAsset |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.u1
X |
- References
+ Details
Name: |
axil_LessImputedInterest |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease to be paid in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiability |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.24.1.u1
Commitments and Contingencies (Details Narrative) - USD ($)
|
1 Months Ended |
6 Months Ended |
9 Months Ended |
|
Sep. 22, 2023 |
Nov. 30, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
May 31, 2023 |
Commitments and Contingencies Disclosure [Abstract] |
|
|
|
|
|
Rent description |
Company entered into a lease in Draper, Utah for a one-year term beginning October 1, 2023. The rent is $4,680
per month for the first year and will increase by two percent the following year.
|
|
Company entered into an extension of its lease for a
two-year term beginning December 1, 2022. The rent was $6,098 per month for the first year and then increased to $6,342 per month.
|
|
|
Monthly base rent |
|
|
$ 6,098
|
|
|
Initial right of use asset |
|
|
131,970
|
|
|
Lease expense |
|
|
55,976
|
$ 65,776
|
|
Lease liability |
|
|
54,322
|
|
$ 102,576
|
Right of use asset |
|
|
$ 53,224
|
|
$ 101,845
|
Discount rate |
|
|
12.00%
|
|
|
Gain on settlement |
|
$ 79,182
|
|
|
|
X |
- References
+ Details
Name: |
axil_InitialRightOfUseAsset |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_MonthlyBaseRent |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_RentDescription |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of lease cost recognized by lessee for lease contract.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 53 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479589/842-20-55-53
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4
+ Details
Name: |
us-gaap_LeaseCost |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionDiscount rate used by lessee to determine present value of operating lease payments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-3
+ Details
Name: |
us-gaap_LesseeOperatingLeaseDiscountRate |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiability |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's right to use underlying asset under operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseRightOfUseAsset |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.u1
Related Party Transactions (Details Narrative) - USD ($)
|
3 Months Ended |
9 Months Ended |
|
Feb. 29, 2024 |
Feb. 29, 2024 |
May 31, 2023 |
Related Party Transaction [Line Items] |
|
|
|
Compensation paid for services |
$ 37,312
|
$ 106,442
|
|
Intrepid [Member] |
|
|
|
Related Party Transaction [Line Items] |
|
|
|
Consulting fee |
|
93,811
|
|
Payable to related party |
18,536
|
18,536
|
$ 124,378
|
Jeff Brown [Member] | Chief Operating Officer [Member] |
|
|
|
Related Party Transaction [Line Items] |
|
|
|
Bonus payable |
42,000
|
42,000
|
|
Weston T. Harris [Member] |
|
|
|
Related Party Transaction [Line Items] |
|
|
|
Consulting fee |
$ 58,000
|
$ 173,500
|
|
X |
- References
+ Details
Name: |
axil_BonusPayable |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_CompensationPaidForServices |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_ConsultingFee |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
srt_CounterpartyNameAxis=axil_IntrepidMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_TitleOfIndividualAxis=srt_ChiefOperatingOfficerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
Business Combination (Details) - USD ($)
|
Feb. 29, 2024 |
Jun. 16, 2022 |
Business Combination and Asset Acquisition [Abstract] |
|
|
Cash |
|
$ 1,066,414
|
Accounts receivable |
|
227,786
|
Inventory |
|
1,342,461
|
Prepaid expenses |
|
62,452
|
Other assets |
|
108,030
|
Accounts payable |
|
(285,665)
|
Contract liabilities |
|
(1,043,332)
|
Other current liabilities |
|
(79,826)
|
Net tangible assets acquired |
|
1,398,320
|
Identifiable intangible assets |
|
|
Licensing rights |
|
11,945
|
Customer relationships |
|
70,000
|
Tradenames |
|
275,000
|
Website |
|
100,000
|
Total Identifiable intangible assets |
|
456,945
|
Consideration paid |
|
4,007,480
|
Total net assets acquired |
|
1,855,265
|
Goodwill purchased |
$ 2,152,215
|
$ 2,152,215
|
X |
- References
+ Details
Name: |
axil_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerRelationship |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTradeNames |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedWebsite |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_BusinessCombinationRecognizedtangibleAssetsAcquiredAndLiabilitiesAssumedNet |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_ConsiderationPaid |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
axil_LicensingRights |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_BusinessCombinationAndAssetAcquisitionAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions, acquired at the acquisition date. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of other assets expected to be realized or consumed before one year or the normal operating cycle, if longer, acquired at the acquisition date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer, acquired at the acquisition date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount due from customers or clients for goods or services, including trade receivables, that have been delivered or sold in the normal course of business, and amounts due from others, including related parties expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer, acquired at the acquisition date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of liabilities incurred for goods and services received that are used in an entity's business and related party payables, assumed at the acquisition date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of deferred revenue expected to be recognized as such within one year or the normal operating cycle, if longer, assumed at the acquisition date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of other liabilities due within one year or within the normal operating cycle, if longer, assumed at the acquisition date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of assets, excluding financial assets and goodwill, that lack physical substance, having a projected indefinite period of benefit, acquired at the acquisition date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwillAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of inventory recognized as of the acquisition date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 55 -Paragraph 37 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479303/805-10-55-37
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 55 -Paragraph 37 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479303/805-10-55-37
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount recognized for assets, including goodwill, in excess of (less than) the aggregate liabilities assumed.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1
+ Details
Name: |
us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.24.1.u1
Business Combination (Details Narrative)
|
1 Months Ended |
Jun. 16, 2022
USD ($)
$ / shares
shares
|
Business Acquisition [Line Items] |
|
Acquisition Costs, Period Cost | $ |
$ 4,007,480
|
Acquisition price | $ / shares |
$ 0.0158
|
Common Stock [Member] |
|
Business Acquisition [Line Items] |
|
Shares consideration |
3,659,195
|
Preferred Stock [Member] |
|
Business Acquisition [Line Items] |
|
Shares consideration |
250,000,000
|
AXIL [Member] |
|
Business Acquisition [Line Items] |
|
Equity Method Investment, Ownership Percentage |
4.68%
|
Jeff Toghraie [Member] |
|
Business Acquisition [Line Items] |
|
Equity Method Investment, Ownership Percentage |
22.33%
|
X |
- References
+ Details
Name: |
axil_AcquisitionPricePerShare |
Namespace Prefix: |
axil_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
axil_SharesConsideration |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe capitalized costs incurred during the period (excluded from amortization) to purchase, lease or otherwise acquire an unproved property, including costs of lease bonuses and options to purchase or lease properties, the portion of costs applicable to minerals when land including mineral rights is purchased in fee, brokers' fees, recording fees, legal costs, and other costs incurred in acquiring properties.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10(c)(7)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479664/932-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 932 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10(c)(3)(ii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479664/932-10-S99-1
+ Details
Name: |
us-gaap_AcquisitionCosts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5
+ Details
Name: |
us-gaap_BusinessAcquisitionLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
+ Details
Name: |
us-gaap_EquityMethodInvestmentOwnershipPercentage |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementClassOfStockAxis=us-gaap_PreferredStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=axil_AxilMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=axil_JeffToghraieMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 310 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481027/954-310-50-2
+ Details
Name: |
us-gaap_ConcentrationRiskLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-21
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-20
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-18
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-20
+ Details
Name: |
us-gaap_ConcentrationRiskPercentage1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_ProductConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_ShampooMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_ShampoosAndConditionersMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_ConditionerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_BundledKitMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_AncillaryProductsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=us-gaap_ProductMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 310 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481027/954-310-50-2
+ Details
Name: |
us-gaap_ConcentrationRiskLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-21
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-20
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-18
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-20
+ Details
Name: |
us-gaap_ConcentrationRiskPercentage1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_ProductConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_GhostStrykeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_TrackrEarmuffsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_OtherBluetoothAndEarBudsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_AccessoriesOtherMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=us-gaap_ProductMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
Concentrations (Details Narrative) - USD ($)
|
3 Months Ended |
9 Months Ended |
12 Months Ended |
Feb. 29, 2024 |
Feb. 28, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
May 31, 2023 |
Concentration Risk [Line Items] |
|
|
|
|
|
Cash, FDIC Insured Amount |
$ 250,000
|
|
$ 250,000
|
|
|
Cash, Uninsured Amount |
$ 4,146,736
|
|
$ 4,146,736
|
|
$ 4,582,682
|
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
52.00%
|
16.00%
|
|
13.00%
|
|
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customer [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
40.00%
|
|
|
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | First Customer [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
29.00%
|
|
|
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Second Customer [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
11.00%
|
|
|
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | AXIL [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
88.40%
|
94.00%
|
91.70%
|
97.10%
|
|
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | CANADA |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
80.00%
|
25.00%
|
54.00%
|
21.00%
|
|
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | UNITED STATES |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
26.00%
|
|
|
24.00%
|
|
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | ITALY |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
1.00%
|
|
3.00%
|
|
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | AXIL [Member] | CANADA |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
2.70%
|
3.50%
|
3.30%
|
|
Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | AXIL [Member] | Outside the United States [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
2.60%
|
3.90%
|
3.70%
|
4.20%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Hair Shampoo [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
34.00%
|
25.00%
|
25.00%
|
21.00%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Hair Conditioner [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
30.00%
|
15.00%
|
25.00%
|
11.00%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Bundled Kits [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
14.00%
|
37.00%
|
24.00%
|
49.00%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Hair treatment product [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
18.00%
|
|
19.00%
|
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Other Hair Treatment Products [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
13.00%
|
|
11.00%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Ghost Stryke [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
52.80%
|
89.90%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Trackr Earmuffs [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
13.00%
|
9.00%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | AXIL [Member] | Ear Buds [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
47.20%
|
10.00%
|
52.80%
|
10.00%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | AXIL [Member] | Ghost Stryke [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
12.90%
|
87.70%
|
13.00%
|
89.90%
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | AXIL [Member] | Trackr Headmuff [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
38.60%
|
|
33.10%
|
|
|
Revenue Benchmark [Member] | Product Concentration Risk [Member] | AXIL [Member] | Trackr Earmuffs [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
11.30%
|
|
|
|
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
25.00%
|
|
|
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
10.00%
|
|
|
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
|
|
10.00%
|
Purchases [Member] | Product Concentration Risk [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Purchased inventories and products |
$ 36,790
|
$ 75,725
|
$ 339,884
|
$ 293,204
|
$ 297,833
|
Purchases [Member] | Product Concentration Risk [Member] | Vendors [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
|
|
95.00%
|
Purchases [Member] | Product Concentration Risk [Member] | Vendors One [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
|
|
61.00%
|
Purchases [Member] | Product Concentration Risk [Member] | Vendors Two [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
|
|
12.00%
|
Purchases [Member] | Product Concentration Risk [Member] | Vendors Three [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
|
|
22.00%
|
Purchases [Member] | Product Concentration Risk [Member] | Vendor [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
78.30%
|
|
89.20%
|
|
82.00%
|
Purchases [Member] | Product Concentration Risk [Member] | Two Vendor [Member] |
|
|
|
|
|
Concentration Risk [Line Items] |
|
|
|
|
|
Concentration risk, percentage |
|
|
|
|
10.00%
|
X |
- References
+ Details
Name: |
axil_PurchasedInventoriesAndProducts |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of cash deposited in financial institutions as of the balance sheet date that is insured by the Federal Deposit Insurance Corporation.
+ References
+ Details
Name: |
us-gaap_CashFDICInsuredAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of cash as of the balance sheet date that is not insured by the Federal Deposit Insurance Corporation.
+ References
+ Details
Name: |
us-gaap_CashUninsuredAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 310 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481027/954-310-50-2
+ Details
Name: |
us-gaap_ConcentrationRiskLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-21
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-20
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-18
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-20
+ Details
Name: |
us-gaap_ConcentrationRiskPercentage1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_OneCustomerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_TwoCustomerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_FirstCustomerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_SecondCustomerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_AxilMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_GeographicConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_StatementGeographicalAxis=country_CA |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_StatementGeographicalAxis=country_US |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_StatementGeographicalAxis=country_IT |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_StatementGeographicalAxis=axil_OutsideTheUnitedStatesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_ProductConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_HairShampooMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_HairConditionerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_BundledKitsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_HairTreatmentProductMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_OtherHairTreatmentProductsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_GhostStrykeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_TrackrEarmuffsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_EarBudsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=axil_TrackrHeadmuffMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_CustomerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_CustomerOneMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=axil_PurchasesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_VendorsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_VendorOneMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_VendorTwoMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_VendorThreeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_VendorMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_TwoVendorMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
Business Segment and Geographic Area Information (Details) - USD ($)
|
3 Months Ended |
9 Months Ended |
Feb. 29, 2024 |
Feb. 28, 2023 |
Feb. 29, 2024 |
Feb. 28, 2023 |
Segment Reporting Information [Line Items] |
|
|
|
|
Total net sales |
$ 6,469,343
|
$ 5,656,461
|
$ 20,997,289
|
$ 16,625,818
|
Total segment gross profit |
4,624,326
|
4,218,485
|
15,529,831
|
12,540,173
|
Selling and Marketing |
3,398,949
|
3,173,383
|
10,278,570
|
8,250,257
|
General and Administrative |
1,329,256
|
828,513
|
3,917,471
|
2,888,931
|
Consolidated operating income (loss) |
(103,879)
|
216,588
|
1,333,790
|
1,400,984
|
Consolidated total assets |
12,713,718
|
9,290,452
|
12,713,718
|
9,290,452
|
Consolidated total payments for property and equipment |
9,347
|
11,250
|
80,192
|
65,650
|
Consolidated total depreciation and amortization |
27,614
|
23,929
|
83,634
|
66,944
|
Hair care and skin care [Member] |
|
|
|
|
Segment Reporting Information [Line Items] |
|
|
|
|
Total net sales |
476,864
|
302,415
|
1,022,458
|
1,206,385
|
Total segment gross profit |
247,859
|
202,016
|
641,966
|
842,447
|
Consolidated total assets |
4,232,913
|
1,243,359
|
4,232,913
|
1,243,359
|
Consolidated total payments for property and equipment |
|
|
|
|
Consolidated total depreciation and amortization |
1,417
|
1,417
|
4,251
|
4,258
|
Hearing enhancement and protection [Member] |
|
|
|
|
Segment Reporting Information [Line Items] |
|
|
|
|
Total net sales |
5,992,479
|
5,354,046
|
19,974,831
|
15,419,433
|
Total segment gross profit |
4,376,467
|
4,016,469
|
14,887,865
|
11,697,726
|
Consolidated total assets |
8,480,805
|
8,047,093
|
8,480,805
|
8,047,093
|
Consolidated total payments for property and equipment |
9,347
|
11,250
|
80,192
|
65,650
|
Consolidated total depreciation and amortization |
$ 26,197
|
$ 22,512
|
$ 79,383
|
$ 62,686
|
X |
- References
+ Details
Name: |
axil_ConsolidatedOperatingIncomeLoss |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of net assets (liabilities).
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 30 -Topic 205 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479910/205-30-50-1
+ Details
Name: |
us-gaap_AssetsNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
+ Details
Name: |
us-gaap_DepreciationDepletionAndAmortization |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 19: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1,2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_GrossProfit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of general and administrative expense classified as other.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_OtherGeneralAndAdministrativeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40
Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-05(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1
+ Details
Name: |
us-gaap_Revenues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of expenditure for addition to long-lived assets included in determination of segment assets by chief operating decision maker (CODM) or otherwise regularly provided to CODM. Excludes expenditure for addition to financial instrument, long-term customer relationship of financial institution, mortgage and other servicing rights, deferred policy acquisition cost, and deferred tax assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 25 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482785/280-10-55-48
+ Details
Name: |
us-gaap_SegmentExpenditureAdditionToLongLivedAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate total amount of expenses directly related to the marketing or selling of products or services.
+ References
+ Details
Name: |
us-gaap_SellingAndMarketingExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_StatementBusinessSegmentsAxis=axil_HairCareAndSkinCareMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementBusinessSegmentsAxis=axil_HearingEnhancementAndProtectionMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
X |
- DefinitionFor an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-21
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-20
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-18
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-20
+ Details
Name: |
us-gaap_ConcentrationRiskPercentage1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_EntityWideRevenueMajorCustomerLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_GeographicConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=axil_CustomersMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.24.1.u1
X |
- DefinitionAmount recognized for uncertainty in income taxes classified as current.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_LiabilityForUncertainTaxPositionsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.24.1.u1
X |
- References
+ Details
Name: |
axil_RemainingOutstanding |
Namespace Prefix: |
axil_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(i)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockRepurchasedDuringPeriodShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEquity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-11
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 205 -Name Accounting Standards Codification -Section 45 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480767/946-205-45-4
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockRepurchasedDuringPeriodValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionDetail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2
+ Details
Name: |
us-gaap_SubsequentEventLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
Reviv3 Procare (QB) (USOTC:RVIV)
Historical Stock Chart
From Aug 2024 to Sep 2024
Reviv3 Procare (QB) (USOTC:RVIV)
Historical Stock Chart
From Sep 2023 to Sep 2024