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Consolidated Statements of Operations (USD $)
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12 Months Ended | |
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May 31, 2012
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May 31, 2011
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| SALES | $ 3,563,144 | $ 4,634,359 |
| COST OF GOODS SOLD | 2,816,209 | 3,369,178 |
| GROSS PROFIT | 746,935 | 1,265,181 |
| SELLING, GENERAL AND ADMINISTRATIVE | 3,292,041 | 3,083,952 |
| ONE-TIME OPTION EXPENSE | 976,628 | |
| DEPRECIATION AND AMORTIZATION | 151,820 | 228,639 |
| LOSS FROM OPERATIONS BEFORE INCOME TAXES AND INTEREST | (3,673,554) | (2,047,410) |
| OTHER INCOME( EXPENSES): | ||
| Interest income (expense) and other income | (636,555) | (492,257) |
| LOSS FROM OPERATIONS BEFORE INCOME TAXES | (4,310,109) | (2,539,667) |
| INCOME TAXES | 0 | 0 |
| NET LOSS | (4,310,109) | (2,539,667) |
| NET LOSS APPLICABLE TO COMMON SHARES | $ (4,310,109) | $ (2,539,667) |
| LOSS APPLICABLE PER COMMON SHARE | ||
| Basic (in Dollars per share) | $ (0.17) | $ (0.11) |
| Diluted (in Dollars per share) | $ (0.17) | $ (0.11) |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: | ||
| basic (in Shares) | 25,140,116 | 24,022,649 |
| diluted (in Shares) | 25,140,116 | 24,022,649 |
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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