Note 14 - Variable Interest Entities ("vies") (Tables)

3 Months Ended

Nov. 30, 2012

Tables/Schedules (Detail level 3):

Consolidated VIE assets and liabilities

	November 30, 2012		May 31, 2012
Assets
Cash and cash equivalents	$	2,127,439	$	3,466,743
Inventories		10,462		18,385
Accounts receivable		659,131		633,009
Tax recoverable		22,974		22,755
Other receivables and deposits		890,054		237,490
Goodwill		610,386		610,386
Property, plant and equipment, net		342,179		454,875
Total assets (not include amount due from intra-group companies)	$	4,662,625	$	5,443,643
Liabilities
Deferred income	$	1,162,052	$	1,441,347
Accounts payable		1,167,590		694,626
Accrued expenses and other payables		423,122		467,246
Tax payables		100,322		44,424
Total liabilities	$	2,853,086	$	2,647,643

Statements of income of the consolidated VIEs

	Six months ended November 30, 2012		Six months ended November 30, 2011
Revenue	$	3,333,155	$	3,827,643
Other income and gains		45,359		45,321
Service costs		(2,391,397)		(2,484,147)
Administrative and other expenses		(195,650)		(425,885)
Personnel cost		(353,123)		(458,475)
Depreciation expense		(110,273)		(109,678)
Income before provision for income taxes (Not including service costs payable to intra-group companies)		328,071		394,779
Provision for income taxes		(53,238)		(14,366)
Net income	$	274,833	$	380,413