WARRANTS	12 Months Ended
May 31, 2013
WARRANTS
WARRANTS	NOTE 5. WARRANTS At May 31, 2008, the Company had 10,000 common stock purchase warrants outstanding, originally sold as part of a unit, allowing the holder to purchase one share of common stock at an exercise price of $40, anytime through May 15, 2011. In fiscal year 2009, the Company sold 10,000 units to an investor for cash at $25 per unit, or an aggregate of $250,000. Each unit consisted of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $40, anytime through June 9, 2011. At May 31, 2009, none of the warrants had been exercised, leaving a year-end balance of 20,000 warrants. The entire value of the units sold for $250,000 was assigned to the common stock as the warrants are non-detachable. In fiscal year 2010, the Company sold 20,252 units to certain investors for cash at prices ranging from $17 - $100 per unit, or an aggregate of $1,250,000. Each unit consisted of one share of common stock and one warrant to purchase one share of common stock at exercise prices ranging from of $20 - $125, anytime through expiration dates varying from June 2012 through February 2013. The entire value of the units was assigned to the common stock as the warrants are non-detachable. At May 31, 2010, none of the warrants had been exercised or had expired, leaving a year-end balance of 40,252 warrants. During the year ended May 31, 2011, the Company sold 50,000 units to investors at a price of $2 per unit for a total of $100,000. Each unit consisted of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $2.50, anytime through July 2013. The entire value of the units was assigned to the common stock as the warrants are non-detachable. As of May 31, 2011, none of the warrants have been exercised. During the fiscal year of 2011, 10,000 warrants expired, leaving a year-end balance of 80,252 warrants. During the year ended May 31, 2012, 10,000 warrants expired, leaving a year-end balance of 70,252 warrants. During the year ended May 31, 2013, 20,252 warrants expired, leaving a year-end balance of 50,000 warrants.

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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