Components of Income Taxes Consists Of (Tables)

12 Months Ended

May 31, 2014

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, 2014 and 2013:

	2014		2013
Deferred tax assets:
NOL carryover	$	7,147,156	$	7,105,546
Valuation allowance		(7,147,156)		(7,105,546)
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, 2014 due to the following:

	2014		2013
Income tax benefit at statutory rate	$	(2,787,391)	$	(2,771,162)
Valuation allowance		(2,787,391)		2,771,162
	$	-	$	-