Related Party Transactions	12 Months Ended
May 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Note 6. RELATED PARTY TRANSACTIONS Transactions with Warren F. Kruger, Chairman Yorktown Management& Financial Services, LLC (“Yorktown”), an entity wholly owned by Greystone’s CEO and President, owns and rents to Greystone (1) grinding equipment used to grind raw materials for Greystone’s pallet production and (2) extruders for pelletizing recycled plastic into pellets for resale and for use as raw material in the manufacture of pallets. Greystone compensates Yorktown for the use of equipment as discussed below. Yorktown previously owned a plastic grinding and wash line plastic recycling facility located in Sand Springs, Oklahoma. Effective June 1, 2015, Greystone assumed operations of the Sand Springs facility and made rental payments totaling $105,000 to Yorktown for use of this equipment through February 29, 2016. On and effective February 29, 2016, GSM and Yorktown entered into an Asset Purchase Agreement and Bill of Sale (the “Bill of Sale”) providing for GSM’s acquisition of the equipment located at the facility for $1,137,865. Payment consisted of an offset against the purchase price of $449,569 which was an amount that Yorktown owed to GSM as of the date of the acquisition and a note payable in the amount of $688,296 which Greystone issued to Yorktown payable over 36 months at 5% interest. GSM continued to operate within the facility by assuming the month-to-month rental of the facility with an unrelated party. In fiscal year 2015, Greystone paid the labor on behalf of Yorktown’s Sand Springs, Oklahoma grinding operation and invoiced Yorktown for the cost. This procedure terminated June 1, 2015 when Greystone assumed operation of the Sand Springs plant as discussed herein. Rental fees. GSM pays a weekly rental fees of $22,500 and $5,000 to Yorktown for grinding equipment and pelletizing equipment, respectively. Total rental fees of approximately $1,430,000 were paid in both fiscal years 2015 and 2015. In addition, Yorktown provides office space for Greystone in Tulsa, Oklahoma at a monthly rental of $2,200 ($2,000 prior to April 1, 2015). Transactions with TriEnda Holdings, L.L.C. TriEnda Holdings, L.L.C. (“TriEnda”) is a manufacturer of plastic pallets, protective packing and dunnage utilizing thermoform processing of which Warren F. Kruger, Greystone’s President and CEO, has a majority ownership interest and serves TriEnda as the non-executive Chairman of the Board. Greystone charges a tolling fee for blending and pelletizing plastic resin using TriEnda’s equipment and raw materials. Revenue from TriEnda totaled $496,764 and $220,962 in fiscal years 2016 and 2015, respectively. The account receivable from TriEnda at May 31, 2016 was $82,274. Transactions with Robert B. Rosene, Jr., Director Greystone accrued interest in the amounts of $332,415 and $307,276 in fiscal years 2016 and 2015, respectively, on the promissory note dated December 15, 2005 payable to Mr. Rosene. Accumulated accrued interest due to Mr. Rosene at May 31, 2016 is $2,475,690. Transactions with Larry J. LeBarre, Director Effective January 1, 2009, Greystone entered into a lease agreement with an entity owned by Mr. LeBarre to rent certain equipment to produce mid-duty pallets with a minimum monthly commitment of $25,000. The lease terminated in September 30, 2015. Lease payments were $75,000 and $300,000 for fiscal years 2016 and 2015, respectively. Transactions with Green Plastic Pallets Green Plastic Pallet (“Green”) is an entity owned by James Kruger, a brother to Warren Kruger, Greystone’s President and CEO. Green purchased pallets from Greystone totaling $295,362 and $333,253 in fiscal years 2016 and 2015, respectively. At May 31, 2016, Green owed $73,440 to Greystone.

Related Party Transactions

12 Months Ended

May 31, 2016

Note 6. RELATED PARTY TRANSACTIONS

Transactions with Warren F. Kruger, Chairman

Yorktown Management& Financial Services, LLC (“Yorktown”), an entity wholly owned by Greystone’s CEO and President, owns and rents to Greystone (1) grinding equipment used to grind raw materials for Greystone’s pallet production and (2) extruders for pelletizing recycled plastic into pellets for resale and for use as raw material in the manufacture of pallets. Greystone compensates Yorktown for the use of equipment as discussed below.

Yorktown previously owned a plastic grinding and wash line plastic recycling facility located in Sand Springs, Oklahoma. Effective June 1, 2015, Greystone assumed operations of the Sand Springs facility and made rental payments totaling $105,000 to Yorktown for use of this equipment through February 29, 2016. On and effective February 29, 2016, GSM and Yorktown entered into an Asset Purchase Agreement and Bill of Sale (the “Bill of Sale”) providing for GSM’s acquisition of the equipment located at the facility for $1,137,865. Payment consisted of an offset against the purchase price of $449,569 which was an amount that Yorktown owed to GSM as of the date of the acquisition and a note payable in the amount of $688,296 which Greystone issued to Yorktown payable over 36 months at 5% interest. GSM continued to operate within the facility by assuming the month-to-month rental of the facility with an unrelated party.

In fiscal year 2015, Greystone paid the labor on behalf of Yorktown’s Sand Springs, Oklahoma grinding operation and invoiced Yorktown for the cost. This procedure terminated June 1, 2015 when Greystone assumed operation of the Sand Springs plant as discussed herein.

Rental fees. GSM pays a weekly rental fees of $22,500 and $5,000 to Yorktown for grinding equipment and pelletizing equipment, respectively. Total rental fees of approximately $1,430,000 were paid in both fiscal years 2015 and 2015.

In addition, Yorktown provides office space for Greystone in Tulsa, Oklahoma at a monthly rental of $2,200 ($2,000 prior to April 1, 2015).

Transactions with TriEnda Holdings, L.L.C.

TriEnda Holdings, L.L.C. (“TriEnda”) is a manufacturer of plastic pallets, protective packing and dunnage utilizing thermoform processing of which Warren F. Kruger, Greystone’s President and CEO, has a majority ownership interest and serves TriEnda as the non-executive Chairman of the Board. Greystone charges a tolling fee for blending and pelletizing plastic resin using TriEnda’s equipment and raw materials. Revenue from TriEnda totaled $496,764 and $220,962 in fiscal years 2016 and 2015, respectively. The account receivable from TriEnda at May 31, 2016 was $82,274.

Transactions with Robert B. Rosene, Jr., Director

Greystone accrued interest in the amounts of $332,415 and $307,276 in fiscal years 2016 and 2015, respectively, on the promissory note dated December 15, 2005 payable to Mr. Rosene. Accumulated accrued interest due to Mr. Rosene at May 31, 2016 is $2,475,690.

Transactions with Larry J. LeBarre, Director

Effective January 1, 2009, Greystone entered into a lease agreement with an entity owned by Mr. LeBarre to rent certain equipment to produce mid-duty pallets with a minimum monthly commitment of $25,000. The lease terminated in September 30, 2015. Lease payments were $75,000 and $300,000 for fiscal years 2016 and 2015, respectively.

Transactions with Green Plastic Pallets

Green Plastic Pallet (“Green”) is an entity owned by James Kruger, a brother to Warren Kruger, Greystone’s President and CEO. Green purchased pallets from Greystone totaling $295,362 and $333,253 in fiscal years 2016 and 2015, respectively. At May 31, 2016, Green owed $73,440 to Greystone.