Debt

6 Months Ended

Nov. 30, 2011

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

13.  Debt

Interest

Total interest expense and financial charges for the six months ended November 30, 2011 and 2010 on all debt amounted to $11,377 and $103,207, respectively. Total interest income for the six months ended November 30, 2011 and 2010 amounted to $511 and $994, respectively.

Capital Leases

The Company has entered into operating lease agreements for six mixing buildings, twenty-nine mixing trucks, two automobiles, and equipments which are located at various production facilities. The leases were entered on or about May 2010 and will expire on various dates. Lease terms range from one year to three years, and annual interest rates range from 5.94% to 11.13%. The Company has been delinquent on some of the lease payments, which have yet to be resolved as of November 30, 2011. Delinquency in lease payments may result in termination of the contracts.

The minimum future lease payments for this property at November 30, 2011 are shown in the following table:

			Lease Commitments
From	To		Buildings		Trucks		Automobiles		Equipment		Total
12/1/2011		5/31/2012	$	1,240,415	$	1,554,511	$	43,178	$	117,212	$	2,959,316
6/1/2012		5/31/2013		559,849		71,249		64,768		66,346		762,212
6/1/2013		5/31/2014		296,281		-		11,015		-		307,296
			$	2,009,545	$	1,629,760	$	118,961	$	183,558	$	4,028,824

The outstanding lease commitment as of November 30, 2011 was $4,028,824, which consists of principal of $3,762,004 and interest of $266,820. Delinquent lease payments as of November 30, 2011 totaled $572,039.