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EXCEL - IDEA: XBRL DOCUMENT - GREYSTONE LOGISTICS, INC.Financial_Report.xls
10-Q - FORM 10-Q - GREYSTONE LOGISTICS, INC.form10q_17314.htm
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EX-31.2 - 302 CERTIFICATION OF THE C.F.O. - GREYSTONE LOGISTICS, INC.ex31-2_17314.htm
EX-32.2 - 906 CERTIFICATION OF THE C.F.O. - GREYSTONE LOGISTICS, INC.ex32-2_17314.htm
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EX-32.1 - 906 CERTIFICATION OF THE PRESIDENT - GREYSTONE LOGISTICS, INC.ex32-1_17314.htm
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v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Feb. 29, 2012
Feb. 28, 2011
Cash Flows from Operating Activities:    
Net income (loss) $ 914,939 $ (947,894)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 867,005 801,835
Stock-based compensation 0 71,976
Changes in receivables (294,002) 242,540
Changes in inventory (1,339,103) (172,465)
Changes in prepaid expenses and other (82,994) (697)
Change in other assets (3,320) 320
Changes in accounts payable and accrued expenses 1,500,827 426,987
Net cash provided by operating activities 1,563,352 422,602
Cash Flows from Investing Activities:    
Purchase of property and equipment (435,211) (1,173,301)
Cash Flows from Financing Activities:    
Proceeds from note payable 0 2,000,000
Proceeds from note payable to related party 0 500,000
Payments on long-term debt (935,964) (1,658,506)
Payments on advances from related party (93,500) (103,501)
Capital contributions to variable interest entity 75,000 0
Distributions by variable interest entity (54,560) 0
Net cash provided by (used in) financing activities (1,009,024) 737,993
Net Increase in Cash 119,117 (12,706)
Cash, beginning of period 169,420 163,749
Cash, end of period 288,537 151,043
Non-Cash Activities:    
Acquisition of equipment by capital lease or debt 563,026 0
Preferred dividend accrual 160,274 243,082
Net decrease in liabilities due to deconsolidation of VIE 990,378 0
Supplemental Information:    
Interest paid $ 398,523 $ 336,614