Consolidated Balance Sheets (Unaudited) (USD $)	Feb. 29, 2012	May 31, 2011
Current Assets:
Cash	$ 288,537	$ 169,420
Accounts receivable - Trade	1,830,805	1,769,387
Accounts receivable - Related party	884,986	652,402
Inventory	1,882,660	543,557
Prepaid expenses and other	153,984	70,990
Total Current Assets	5,040,972	3,205,756
Property, Plant and Equipment	14,898,812	13,900,575
Less: Accumulated Depreciation	(7,041,313)	(6,186,967)
Property, Plant and Equipment, net	7,857,499	7,713,608
Other Assets	91,354	100,693
Total Assets	12,989,825	11,020,057
Current Liabilities:
Current portion of long-term debt	1,329,410	3,937,581
Advances payable - Related party	631,580	725,080
Current portion of variable interest entities’ long-term debt	0	135,173
Preferred dividends payable	2,842,190	0
Accounts payable and accrued expenses	3,160,745	1,927,162
Accounts payable and accrued expenses - Related parties	1,885,872	1,621,838
Total Current Liabilities	9,849,797	8,346,834
Long-Term Debt, net of current portion	11,079,537	8,811,243
Long-Term Debt of Variable Interest Entity, net of current portion	0	3,566,971
Deficit:
Preferred stock	5	0
Common stock	2,611	2,611
Additional paid-in capital	53,089,293	48,089,298
Accumulated deficit	(62,031,414)	(62,297,986)
Total Greystone Stockholders’ Deficit	(8,939,510)	(14,206,077)
Noncontrolling interests	999,996	4,501,086
Total Deficit	(7,939,514)	(9,704,991)
Total Liabilities and Deficit	$ 12,989,820	$ 11,020,057