Stock-Based Compensation (Tables)

6 Months Ended

Nov. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Option Activity

The following table summarizes option activity for the six months ended November 30, 2016:

	Number of Shares
Outstanding at May 31, 2016		225,000
Granted		25,000
Outstanding at November 30, 2016		250,000
Vested and exercisable options at November 30, 2016		40,000
Weighted average exercise price per share of vested and exercisable options	$	3.12
Non-vested options at November 30, 2016		210,000
Weighted average grant-date fair value per share of non-vested options	$	2.67

Fair Value of Options Granted Estimated at Date of Grant Using Weighted Average Assumptions

The fair value of the options granted during the first half of fiscal 2017 were estimated at the date of grant using the following weighted average assumptions:

Volatility	66.0	%
Risk-free interest rate	1.47	%
Expected option life in years	7.50
Dividend yield	0	%