Note 5 - Acquisition of A Subsidiary: Schedule of Fair Value of Assets and Liabilities of Haitai (Tables)

12 Months Ended

May. 31, 2015

Tables/Schedules

Schedule of Fair Value of Assets and Liabilities of Haitai

Assets
Construction in progress	$1,100,243
Other receivables and deposits	101,036
Cash and cash equivalents	1,132
	1,202,411
Liabilities
Accrued expenses and other payables	1,736,068
	1,736,068
Net assets acquired	(533,657)
Net assets shared by YuGuang	(272,165)
Cash consideration	105,006
Goodwill	377,171
Reconciliation of net cash used in acquisition
Cash consideration paid	105,006
Less: cash acquired from the transaction	(1,132)
Net cash used in acquisition	103,874