Greystone had full-time-equivalents of approximately 264 and 272 full-time employees and 73 and 11 temporary employees as of November 30, 2021 and 2020, respectively. Full-time equivalent is a measure based on time worked.

Six Months Ended November 30, 2021 Compared to Six Months Ended November 30, 2020

Selling, General and Administrative Expenses

Greystone recorded net income of $2,892,973 in fiscal year 2022 compared to $2,032,231 in fiscal year 2021 primarily for the reasons discussed above.

Net Income Attributable to Common Stockholders

Three Months Ended November 30, 2021 Compared to Three Months Ended November 30, 2020

Selling, General and Administrative Expenses

Other income from sales of scrap material was $5,218 in fiscal year 2022 compared to $2,434 in fiscal year 2021.

Greystone recorded net income (loss) of $(229,485) in fiscal year 2022 compared to $1,023,073 in fiscal year 2021 primarily for the reasons discussed above.

Net Income Attributable to Common Stockholders

The net income (loss) attributable to common stockholders (net income (loss) less preferred dividends and GRE's net income) for fiscal year 2022 was $(378,844), or $(0.01) per share, compared $873,180, or $0.03 per share, in fiscal year 2021 primarily for the reasons discussed above.

A summary of cash flows for the six months ended November 30, 2021 is as follows:

Cash provided by operating activities $ 12,478,838

Cash used in investing activities $ (1,488,664 )

Cash used in financing activities $ (1,383,357 )

The contractual obligations of Greystone are as follows:

Forward Looking Statements and Material Risks

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