XML 16 R9.htm IDEA: XBRL DOCUMENT v2.3.0.15
Capitalized Lease Obligation
3 Months Ended
Aug. 31, 2011
Capitalized Lease Obligation

Note 4.    Capitalized Lease

 

Effective August 12, 2011, Greystone entered into an agreement with Sonoco Products Company to lease certain molds for a period of sixty months at a monthly rental of $10,625 per month plus $0.50 per pallet sold each month in excess of 12,500.  The lease and related debt have been capitalized at 5% interest for a total amount of $563,026.