2. Critical Accounting Policies and Estimates (Tables)

9 Months Ended

Feb. 28, 2015

Accounting Policies [Abstract]

Other liabilities

	February 28,		May 31,
	2015		2014
Compensation payable	$	104,430	$	71,432
Accrued vacations		3,992		4,532
Other Accruals		2,274		2,581
	$	109,100	$	78,545

Fair value of assets

	February 28, 2015				May 31, 2014
	Level 1		Level 2		Level 1		Level 2
Cash		687,648		–		429,199		–
Investments		746,822		67,500		2,263,639		67,500
Total Financial Instruments		1,366,970		67,500		2,692,838		67,500

Stock option activity

	Number of Shares		Weighted Average Exercise Price ($)
Balance at May 31, 2013		389,039		0.48
Granted		–
Exercised
Forfeited or expired		–		–
Balance at May 31, 2014		389,035	$	0.48
Granted
Exercised		–		–
Forfeited or expired		–		–
Balance at February 28, 2015		389,035	$	0.48

Options outstanding and exercisable

Weighted average contractual remaining term – options outstanding		0 years
Aggregate intrinsic value – options outstanding	$	9,337
Options exercisable		389,035
Weighted average exercise price – options exercisable	$	.48
Aggregate intrinsic value – options exercisable	$	101,149
Weighted average contractual remaining term – options exercisable		0 years

Weighted Average Assumptions

Risk-free interest rate	1.44%
Expected life of options	4-5 years
Annualized volatility	90.6%
Dividend rate	0%