XML 21 R10.htm IDEA: XBRL DOCUMENT v3.3.1.900
Commitments and Contingencies
 9 Months Ended
Feb. 29, 2016
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

Note 5: Commitments and Contingencies


On June 18, 2009, the Company entered into an agreement to lease a building in Irvine, California. The lease commenced September 1, 2009 and ends August 31, 2016.  The initial base rent was set at $18,490 per month with scheduled annual increases through the end of the lease term.  The rent is currently set at $22,080 per month.


On November 30, 2015, the Company entered into a First Amendment to Lease whereby the lease for the above referenced property is extended until August 31, 2021.  The initial rent for the period of the extension commencing September 1, 2016 is set at $21,000 per month with scheduled annual increases through the end of the lease term.


During July 2015, the Board of Directors approved the execution of an agreement with an investment banker to raise up to $3.0 million through the sale of restricted common stock of the Company.


     On March 21, 2015, the Company’s line of credit in the amount of $250,000 expired.