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Available-for-sale Investment

12 Months Ended

May 31, 2012

NOTE 5 – AVAILABLE-FOR-SALE INVESTMENT

As of the balance sheet dates, available-for-sale investments are summarized as follows:

	2012		2011
Investment in trust fund	$	315,689	$	308,734
Shanghai Hai He Computing Technology Company Limited (“Hai He”)		-		390,603
		315,689		699,337
Less: Impairment of investments in Hai He		-		(390,603	)
Total	$	315,689	$	308,734

During the third quarter of fiscal year 2011, the Company invested in CITIC Trust for the investment project of CITIC Cheng Jing and China Agriculture Technological Cultural share capital. Upon maturity, the trust fund provides an expected return of 8% per annum in 2 years. As of May 31, 2012 and 2011, the fair value of the trust fund approximates the investment cost.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

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+ Details