Note 7 - Intangible Assets

9 Months Ended

Feb. 28, 2013

Disclosure Text Block [Abstract]

Intangible Assets Disclosure [Text Block]

7. INTANGIBLE ASSETS

Intangible assets consist of the following:

		Amortizable life				February 28, 2012				May 31, 2012
Trade name		Indefinite				$	1,720,000			$	1,720,000
Non-competition agreement (years)		5					110,000				110,000
Non-contractual customer relationships (years)		10					620,000				620,000
Goodwill		Indefinite					1,420,678				1,420,678
Total intangible assets							3,870,678				3,870,678
Accumulated amortization							(453,603	)			(402,499	)
						$	3,417,075			$	3,468,179

Amortization expense recorded for the nine months ended February 28, 2013 and February 29, 2012, was $51,634 and $63,000, respectively and for the three months ended February 28, 2013 and February 29, 2012 were $16,040 and $21,000, respectively.