Common Stock

12 Months Ended

May 31, 2014

Common Stock [Text Block]

6. Common Stock

Common stock issued during the year ended May 31, 2014:

a)	During the year ended May 31, 2014, the Company issued 17,000,000 shares of common stock at $0.01 per share for proceeds of $170,000 under a private placement.
b)	On May 16, 2014, the Company issued 5,000,000 shares of common stock at $0.01 per share. At May 31, 2014, subscriptions proceeds of $50,000 have not been received and have been included in subscriptions receivable on the balance sheet.

Common stock issued during the year ended May 31, 2013:

a)

On July 20, 2012, the Company issued an aggregate of 2,750,000 shares of common stock with a fair value of $286,458 to certain directors, officers and employees as compensation for services rendered from January 1, 2012 through June 30, 2012. The Company recognized expense of $240,625 for the period from January 1, 2012 through May 31, 2012 during prior year while the remaining $45,833 was expensed during the year ended May 31, 2013.

b)

On March 1, 2013, the Company approved an increase in its number of authorized shares of common stock from 300,000,000 shares to 500,000,000 shares.