Annual report pursuant to Section 13 and 15(d)

NOTE 15 - FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

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NOTE 15 - FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
May 31, 2018
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 May 31, 2018 and 2017.

   

May 31, 2018

 
   

Level 1

   

Level 2

   

Level 3

   

Total

 

Liabilities

                               

Derivative liabilities

  $ -     $ -     $ 1,265,751     $ 1,265,751  
   

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, 2016

  $ 418,537  
         

Issuances

    600,564  
         

Convert or Redeem

    (612,850

)

         

Revaluation gain

    (310,975

)

         

Balance as of May 31, 2017

  $ 95,276  
         

Issuances

    3,671,505  
         

Convert or Redeem

    (2,696,755

)

         

Revaluation loss

    195,725  
         

Balance as of May 31, 2018

  $ 1,265,751