XML 72 R60.htm IDEA: XBRL DOCUMENT v3.7.0.1
Preferred Stock (Details Narrative) - USD ($)
May 31, 2014
May 31, 2013
Dec. 30, 2005
Redeemable Preferred Stock As Follows:      
Issue of 4% non voting Series A Preferred Stock shares through private placement     350
Issue of warrants for common shares of Company stock for series A     1,050,000
Series A Preferred Stock value     $ 350,000
Series A Preferred Stock liquidation preference per annum (fixed annual rate of $40 per share)     $ 1,000
Series A preferred stock shares authorized. 1,000,000    
Series A preferred stock shares issued. 2,675    
Cash investments in exchange of shares issued Series A Preferred stock $ 2,675,000    
Series A Preferred holders requesting redemption are entitled $ 473,410    
Issue of 8% non voting Series B Preferred Stock shares through private placement     3,980
Issue of warrants for common shares of Company stock for series B     19,900,000
Series B Preferred Stock value     $ 2,985,000
Shares of Series B Preferred Stock Issued     4,891
Series B Preferred Stock liquidation preference per annum (fixed annual rate of $80 per share)     $ 1,000
Each share of Series B convertible into number of shares at any time after original issue date     1,000
Conversion Price per common share     $ 1.00
Series B preferred stock shares authorized     10,000
Redemption of Series B preferred Stock 2,817 0  
Amount of Series B preferred stock redemption $ 4,351,502    
Accrued dividends on mandatorily redeemable preferred stock 1,925,523 2,031,471