XML 21 R11.htm IDEA: XBRL DOCUMENT

5. Warrant Liability	6 Months Ended
Nov. 30, 2015
Notes
5. Warrant Liability	6. WARRANT LIABILITY During the year ended May 31, 2013, the Company issued 2,715,000 warrants to an investment banker; these warrants have "full-ratchet anti-dilution protection". In accordance with pronouncements of the Financial Accounting Standards Board, these warrants have been classified as liabilities. They will be periodically revalued by use of a Black Sholes valuation model. Changes in the value will be recorded on the statement of operations. During the six month periods ended November 30, 2015 and 2014, the value was reduced by $0 and $108,600, respectively.

5. Warrant Liability

6 Months Ended

Nov. 30, 2015

6. WARRANT LIABILITY

During the year ended May 31, 2013, the Company issued 2,715,000 warrants to an investment banker; these warrants have "full-ratchet anti-dilution protection". In accordance with pronouncements of the Financial Accounting Standards Board, these warrants have been classified as liabilities. They will be periodically revalued by use of a Black Sholes valuation model. Changes in the value will be recorded on the statement of operations. During the six month periods ended November 30, 2015 and 2014, the value was reduced by $0 and $108,600, respectively.