STOCKHOLDERS' EQUITY

6 Months Ended

Nov. 30, 2011

STOCKHOLDERS EQUITY [Abstract]

STOCKHOLDERS EQUITY

NOTE 7 – STOCKHOLDERS' EQUITY

In June 2011, the Company received $70,000 for 700,000 shares of common stock which were issued during the year ended May 31, 2011.

On September 22, 2011, the Company issued 30,000 shares of common stock to an investor and recorded the stock-based compensation of $5,970 which is equivalent to the fair value of the shares at the date of grant.

On various dates beginning after June 1, 2011, the Company issued 400,000 fully vested common shares to a consulting firm for providing advisory services to the Company and recorded the stock-based compensation of $116,000 which is equivalent to the fair value of the shares at the date of grant.

On April 13, 2011 the Company granted a Director of the Company 2,000,000 common shares which will vest after 18 months of continuous service for the Company as a Director. The fair value of these shares amounted to $710,000 of which $237,315 was recognized as stock-based compensation during the six months ended November 30, 2011. The unamortized stock-based compensation for these shares is $410,438.