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5. Warrant Liability
6 Months Ended
Nov. 30, 2016
Notes  
5. Warrant Liability

5.  WARRANT LIABILITY

 

During the year ended May 31, 2013, the Company issued 2,715,000 warrants to an investment banker, which had "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, 2016 and 2015, the value was not reduced.