STOCKHOLDERS' EQUITY

9 Months Ended

Feb. 29, 2012

STOCKHOLDERS EQUITY [Abstract]

STOCKHOLDERS EQUITY

NOTE 7 -  STOCKHOLDERS' EQUITY

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

On various dates beginning after June 1, 2011, the Company issued 950,000 fully vested common shares to consultants and an employee for services provided to the Company and recorded the stock-based compensation of $188,250 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 $354,351 was recognized as stock-based compensation during the nine months ended February 29, 2012. The unamortized stock-based compensation for these shares is $355,649.