Concentrations

12 Months Ended

May 31, 2016

Risks and Uncertainties [Abstract]

Concentrations

Note 12. CONCENTRATIONS

For the fiscal year ended May 31, 2016, Greystone had two customers that accounted for approximately 56% of total sales (41% and 15%, respectively). For the fiscal year ended May 31, 2015, one of Greystone’s customers accounted for approximately 51% of total sales.

Greystone purchases damaged pallets from its customers at a price based on the value of the raw material content of the pallet. A majority of these purchases are from Greystone’s major customer which were approximately $1,605,000 and $1,582,000 in fiscal years 2016 and 2015, respectively.