12. Commitments and Contingencies: Operating Leases The Company currently maintains leased space in Shanghai, China, San Gabriel, California, New York City, NY, Flushing, NY and Richmond, British Columbia, Canada. It also maintains a correspondence address in Arcadia, California on a month to month basis. We lease certain office space from third parties. For leases beginning in June 1, 2019 and later, at the inception of a contract we assess whether the contract is, or contains, a lease. Our assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether we have the right to direct the use of the asset. At inception of a lease, we allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one year or more. The exercise of lease renewal options is at our sole discretion. Our leases do not include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term. Certain of our lease agreements include rental payments adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. All our leases are operating lease. As of November 30, 2019, our operating lease right of use assets and operating lease liability are approximately $875,558 and $910,003 respectively. The rent expense for the three and six months ended November 30, 2019 is $100,820 and $190,010, respectively. Future minimum lease commitments for office facilities as of November 30, 2019 are as follows: For the fiscal years ending May 31, 2020 (six months) 248,612 2021 310,411 2022 161,322 2023 38,767 $ 759,112 Litigation  The Company is involved in legal proceedings from time to time in the ordinary course of its business. On September 1, 2016, the Company entered into a Service Provider Agreement with SINO-GLOBAL SHIPPING AMERICA LTD (SINO) to perform investor relations services for SINO in exchange for 60,000 shares of SINO Rule of 144 restricted stock. When entering the 2016 Note Agreements, the Company believed that the SINO shares would be delivered as provided for in the agreement. However, the shares were not delivered purportedly due to a disagreement among SINOs management, and as a result, the Company has not obtained the SINO shares as of November 30, 2019. On January 9, 2018, the Company filed a lawsuit in the Los Angeles County Superior Court, Case No. EC067692 for breach of contract and common counts against SINO-GLOBAL SHIPPING AMERICA LTD. The dispute was ultimately arbitrated by the American Arbitration Association in May 2019 and the parties reached a settlement whereby SINO will issue 40,000 shares of its Rule 144 restricted Common Stock to the Company. The Settlement Agreement was executed by the parties and the Company is awaiting receipt of the settlement shares to account for the shares due to the Company and the shares due to the Companys counsel under the contingency arrangement. In or about October 9, 2018, a former employee filed an administrative claim with the U.S. Equal Employment Commission. In or about June 2019, the former employee and the Company entered into a no fault Confidential Settlement Agreement pursuant to which all claims and controversies were fully and finally settled. On or about September 19, 2019 a lawsuit entitled J. Jim Ye v. ChineseInvestors.com, Inc. and Warren Wei Wang , was filed in Los Angeles County Superior Court, Glendale Courthouse, as Case No. 19GDCV01195, alleging causes of action for rescission of purchase of securities due to fraud, violation of Cal. Buss. &amp; Prof. Code Section 17200, et seq., and fraudulent concealment. It is the Companys position that the Plaintiffs claims have no merit and the Company intends to retain counsel to defend the action. Through its litigation defense counsel, the Company filed a Demurrer to the Plaintiffs complaint which is set for hearing on January 17, 2020.