XML 43 R10.htm IDEA: XBRL DOCUMENT

4. Property and Equipment

9 Months Ended

Feb. 28, 2015

Property, Plant and Equipment [Abstract]

Property and equipment are recorded at cost, net of accumulated depreciation and are comprised of the following:

	February 28,			May 31,
	2015			2014
Furniture & fixtures	$	75,643		$	72,530
Leasehold improvements		23,417			23,417
		99,060			95,947
Less accumulated depreciation		(84,812	)		(72,987	)
	$	14,248		$	22,960

Depreciation on equipment is provided on a straight line basis over its expected useful lives at the following annual rates

Computer equipment	3 years
Furniture & fixtures	3 years
Leasehold improvements	Term of the lease

Depreciation expense for the nine months ending February 28, 2015 and 2014 was $11,825 and $12,828, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details