Schedule of notes payable (Tables)

12 Months Ended

May 31, 2014

Schedule Of Notes Payable Tables

Schedule of unsecured notes payable Table Text Block

At May 31, 2014 and 2013, the Company had the following unsecured notes payable to individuals:

	2014		2013
Unsecured demand notes payable to individuals and others; no interest	$	7,500	$	—
Unsecured demand notes payable to individuals and others; interest rate fixed @ 10% ($75,000 to related party in 2013, no related party in 2014)		1,484,529		1,227,482
Unsecured demand notes payable to individuals and others; interest rate fixed @ 12%		15,000		15,000
Unsecured demand note payable to individuals; interest rate fixed @ 14%;		203,040		185,000
Secured demand note payable to individuals; interest rate fixed @ 10%; secured by accounts receivable for investment advisory fees		—		95,000
Unsecured note(s)payable to individual(s) under bridge- financing arrangements described below ($360,000 to related party in 2013, no related party in 2014)		3,500,000		3,500,000
Total	$	5,210,350	$	5,022,482

Schedule of the common shares issued to note holders Table Text Block

The following table summarizes the common shares issued to those note holders as a result incurring these penalties.

Date of Issuance		Shares Issued
	September 10, 2008		4,870,449
	March 10, 2009		5,010,640
	September 10, 2009		5,354,642
	March 10, 2010		6,005,925
	September 10, 2010		6,213,285
	March 10, 2011		6,738,900
	September 10, 2011		7,043,710
	March 10, 2012		7,430,017
	September 10, 2012		8,573,594
	March 10, 2013		8,947,444
	September 10, 2013		9,316,337
	March 10, 2014		9,630,856
			85,135,799

Scheduled maturities Table Text Block

Scheduled maturities are as follows:

	2014
Fiscal year 2014-2015 (including demand notes)	$	5,210,069
Total	$	5,210,069