NOTE 4 - ASSET PURCHASE AND INTANGIBLE ASSET

6 Months Ended

Nov. 30, 2014

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

NOTE 4 – ASSET PURCHASE AND INTANGIBLE ASSET

On June 23, 2014, the Company entered into a IP Asset Purchase Agreement (the "Purchase Agreement"), with Mary Spio, pursuant to which the Company agreed to purchase certain patents owned and invented by Mrs. Spio (the "Purchased Assets"). Under the terms of the Purchase Agreement and in consideration for the acquisition of the Purchased assets, the Company issued to Mrs. Spio an aggregate of 55,000,000 common shares of the Company. The company accounted for the acquisition in accordance with ASC 805-50-15 as an acquisition of assets rather than a business. The fair value of the assets acquired was based on their relative fair market values on the acquisition date as determined by an appraisal obtained by the Company.

Assets acquired:

Patent # 1; Topic search based method and apparatus for facilitating social contact in a network of users

Patent # 2; watermarking of biometrically authenticated subjects for social networks

CEEK Intellectual Property; CEEK Blended Live Events Entertainment Platform (VR/AR/Realife)

Next Galaxy Media; property and other proprietary rights relating to the project identified as Next Galaxy Media and all activities and developments related.