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Note 1 - Basis of Presentation
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3 Months Ended |
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Nov. 30, 2011
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| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
1.
BASIS
OF PRESENTATION
The
accompanying unaudited consolidated financial statements of
Artisanal Brands, Inc., Inc. (the “Company”)
have been prepared in accordance with generally accepted
accounting principles for interim financial information and
with the instructions to Form 10-Q. Accordingly,
they do not include all of the information and footnotes
required by generally accepted accounting principles for
complete financial statements. In the opinion of
management, all adjustments considered necessary for a fair
presentation (consisting of normal recurring accruals) have
been included. The preparation of financial
statements in conformity with generally accepted accounting
principles requires management to make estimates and
assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the
reported amounts of revenues and expenses during the
reporting period. Actual results could differ
from those estimates. Operating results expected
for the six months ended November 30, 2011 are not
necessarily indicative of the results that may be expected
for the year ending May 31, 2012. For further
information, refer to the financial statements and
footnotes thereto included in the Company’s Annual
Report on Form 10-K for the year ended May 31,
2011. Per share data for the periods are based
upon the weighted average number of shares of common stock
outstanding during such period.
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