NOTE 7 - NOTES PAYABLE - STOCKHOLDERS'

6 Months Ended

Nov. 30, 2014

Note Payable Shareholder [Abstract]

Note Payable Shareholder

NOTE 7 – NOTES PAYABLE – STOCKHOLDERS'

In 2014, the Company received additional loans from Michel St-Pierre in the amount of $6,739. During the three month period ending August 31, 2014, Michel St-Pierre converted his loans balance of $386,512 into 3,734,581 common shares of Next Galaxy Corp. At November 30, 2014, the loans amounted to $6,739. These loans carry an interest of 10% and are payable on demand.

During the three month period ending August 31, 2014, a stockholder converted his loans balance of $164,140 into 1,585,969 common shares of Next Galaxy Corp. The amount owed to stockholder November 30, 2014 is $0. These loans carry an interest of 10% and are payable on demand.

In 2014, the Company received additional loans from Capex Investments Limited, a shareholder, in the amount of $285,150. During the three month period ending November 30, 2014, Capex Investments Limited converted $418,414 of his loans balance into 4,257,974 common shares of Next Galaxy Corp. During the three month period ending August 31, 2014, Capex Investments Limited converted $328,780 of his loans balance into 3,176,761 common shares of Next Galaxy Corp. In 2014, the Company has entered into an agreement with Capex Investment Limited where Capex Investment took charge of all the assets and liabilities related to services to the machine-to-machine business and granted a reduction of $100,000 of the loans owed to Capex Investment. In 2014, the Company received additional loans from Capex Investments Limited, a shareholder, in the amount of $192,000. The amount owed to Capex Investments Limited at November 30, 2014 is $0. These loans carry an interest of 10% and are payable on demand.

The Company has not received any loans from DT Crystal in 2014. During the three month period ending August 31, 2014, DT Crystal converted his loans balance of $44,940 into 434,224 common shares of Next Galaxy Corp. The amount owed to DT Crystal November 30, 2014 is $0. These loans carry an interest of 10% and are payable on demand.

A summary of the amounts outstanding is as follows:

	Balance November 30,		Balance May 31,
	2014		2014
Michel St-Pierre	$	6,739	$	386,512
Stockholder		-		164,140
Capex Investments Limited		-		428,780
DT Crystal		-		44,940
	$	6,739	$	1,024,372