Components of Income Taxes Consists Of (Tables)

12 Months Ended

May 31, 2013

Components of Income Taxes Consists Of

Net deferred tax assets consist of the following

Net deferred tax assets consist of the following components as of May 31, 2013 and 2012:

		2013		2012
Deferred tax assets:
NOL carryover	$	7,105,546	$	7,067,456
Valuation allowance		(7,105,546)		(7,067,456)
Net deferred tax asset	$	-	$	-

Income Tax provision continuing operations for the period ended

The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income tax rates of 39% to pretax income from continuing operations for the period ended May 31, 2013 due to the following:

	2013		2012
Income tax benefit at statutory rate	$	(2,771,162)	$	(2,756,308)
Valuation allowance		2,771,162		2,756,308
	$	-	$	-