Note 8 - Intangible Assets

9 Months Ended

Feb. 28, 2014

Notes

Note 8 - Intangible Assets

NOTE 8 – INTANGIBLE ASSETS

Intangible assets of the Company consist primarily of licenses and software for the PRC operations.

Intangible assets as of the balance sheet dates are summarized as follows:

	February 28, 2014	May 31, 2013
At cost:
Licenses and software	$2,279,461	$2,278,603
Operating concession	244,950	-
	2,524,411	2,278,603
Less: Accumulated amortization	(808,596)	(719,132)
Intangible assets, net$	1,715,815	$1,559,471

Amortization expense for the nine months ended February 28, 2014 and 2013 amounted to $89,240 and $91,331, respectively.