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Accured Expenses and Other Current Liabilities
|
9 Months Ended | 12 Months Ended |
|---|---|---|
|
Feb. 29, 2012
|
May 31, 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 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.
|
10.
ACCRUED
EXPENSES AND OTHER CURRENT LIABILITIES
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. As of May 31, 2010, the Company had
accrued expenses and other liabilities of $276,533
which consisted primarily of $5,601 for accrued
payroll, $15,750 for professional fees, $149,849 for
vendor installment agreements, $104,636 for accrued
interest on term loans and other of $697.
|