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Note 8 - Accrued Expense and Other Current Liabilities
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3 Months Ended |
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Nov. 30, 2011
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| Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] |
8.
ACCRUED
EXPENSES AND OTHER CURRENT LIABILITIES
As
of November 30, 2011, the Company had accrued expenses and
other liabilities of $479,013 which consisted primarily of
$332,125 for accrued interest on loans, vendor installment
agreements of $60,895, accrued payroll of $54,330, accrued
professional fees of $19,500 and other miscellaneous
accruals for $12,028. As of May 31, 2011, the
Company had accrued expenses and other liabilities of
$517,618 which consisted primarily of $418,834 for accrued
interest on term loans, vendor installment agreements of
$60,895, accrued payroll of $20,311 and other accrued
expenses of $17,578.
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