Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Fair Value of Financial Instruments (Tables)

v3.5.0.2
Note 13 - Fair Value of Financial Instruments (Tables)
 3 Months Ended
Aug. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] The following summarizes the Company’s derivative financial liabilities that are recorded at fair value on a recurring basis at August 31, 2016 and May 31, 2016.

 
August 31, 2016
  
 
Level 1
  
Level 2
  
Level 3
  
Total
  
Liabilities
                
Derivative liabilities
  
$
-
    
$
-
    
$
294,616
    
$
294,616
  
 
May 31, 2016
  
 
Level 1
  
Level 2
  
Level 3
  
Total
  
Liabilities
                
Derivative liabilities
  
$
-
    
$
-
    
$
418,537
    
$
418,537
  
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] The estimated fair values of the Company’s derivative liabilities are as follows:

 
Derivative
  
 
Liability
  
Liabilities Measured at Fair Value
    
     
Balance as of May 31, 2016
  
$
418,537
  
         
Issuances
    
-
  
         
Revaluation gain
    
123,921
  
         
Balance as of August 31, 2016
  
$
294,616