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Restatement
6 Months Ended
May 31, 2016
Accounting Changes and Error Corrections [Abstract]  
Restatement

Note 14 - Restatement

 

The Company restated its financial statements for the six months ended May 31, 2015, to correct certain accounting errors related to revenue recognition. The table below summarizes the impact of the restatement described above on financial information previously reported on the Company’s Forms 10-Q for the period ended May 31, 2015:

 

             
    Original   Adjustments   As Restated
                         
Balance Sheet at 5/31/15:                        
                         
Deposits   $ —       $ 65,000     $ 65,000  
                         
Income Statement for Three Months Ended 5/31/15:                        
                         
Revenue     65,927       (65,000 )     927  
Net income     1,517,050       (65,000 )     1,452,050  
Earnings per share     0.00       0.00       0.00  
Earnings per share - diluted     0.00       0.00       0.00  
                         
Income Statement for Six Months Ended 5/31/15:                        
                         
Revenue     66,821       (65,000 )     1,821  
Net loss     (436,391 )     (65,000 )     (501,391 )
Earnings per share     0.00     0.00       0.00  
Earnings per share - diluted     0.00     0.00       0.00  
                         
Cash Flow Statement for Six Months Ended 5/31/15:                        
                         
Net loss     (436,391 )     (65,000 )     (501,391 )