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6. Stock Options
3 Months Ended
Aug. 31, 2013
Share-based Compensation [Abstract]  
6. Stock Options

Effective June 1, 2012, Greystone issued stock options to purchase 2,100,000 shares of its common stock to certain of its directors, officers and employees and cancelled options to purchase 1,300,000 shares. The new options are for a ten year period and are vested at the rate of 25% per year beginning with the first anniversary of the date of the grant. The fair value of the options, $213,696 as of the issuance date, is to be expensed ratably over the vesting period of four years. Stock compensation costs were $13,356 for the three months ended August 31, 2013 and 2012, respectively.  The unexpensed cost at August 31, 2013 totaled $146,916.