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Note 8 - Accrued Expenses And Other Current Liabilities
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9 Months Ended |
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Feb. 29, 2012
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| Notes To Financial Statements | |
| Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] |
8.
ACCRUED
EXPENSES AND OTHER CURRENT LIABILITIES
As
of February 29, 2012, the Company had accrued expenses and other
liabilities of $590,259 which consisted primarily of $424,014 for
accrued interest on loans, vendor installment agreements of
$60,895, accrued payroll of $43,959, accrued professional fees of
$17,500, a vendor prepayment of $38,000 and other miscellaneous
accruals for $5,891. 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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