Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Fair Value of Financial Instruments (Tables)

v3.8.0.1
Note 11 - Fair Value of Financial Instruments (Tables)
3 Months Ended
Aug. 31, 2017
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, 2017 and May 31, 2017.

 
 
August 31, 2017
 
 
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Liabilities
                       
Derivative liabilities
 
$
-
   
$
-
   
$
214,621
   
$
214,621
 
 
 
May 31, 2017
 
 
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Liabilities
                       
Derivative liabilities
 
$
-
   
$
-
   
$
95,276
   
$
95,276
 
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, 2017
 
$
95,276
 
 
       
Issuances
   
13,395
 
 
       
Conversions/Redemptions
   
-
 
 
       
Extinguishment of debt – related party
   
-
 
 
       
Revaluation loss
   
105,950
 
 
       
Balance as of August 31, 2017
 
$
214,621