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Basis of Presentation
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9 Months Ended |
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Feb. 29, 2012
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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 nine months ended February 29, 2012 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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