Summary of Significant Accounting Policies (Tables)

12 Months Ended

May 31, 2016

Accounting Policies [Abstract]

Schedule of Useful Life of Property Plant and Equipment

Greystone’s property, plant and equipment is stated at cost. Depreciation expense is computed using the straight-line method over the estimated useful lives, as follows:

Plant buildings	39 years
Production machinery and equipment	5-10 years
Leasehold improvements	5-7 years
Furniture & fixtures	3-5 years

Schedule of Antidilutive Securities

The following securities were not included in the computation of diluted earnings per share for the fiscal years ended May 31, 2016 and 2015 as their effect would have been antidilutive:

	2016		2015
Convertible preferred stock		3,333,333		3,333,333