|12 Months Ended|
May 31, 2016
Note 14 – Subsequent Events
On June 1, 2016 the Company issued to directors, as it relates to their annual compensation, options covering a total of 300,000 shares of common stock. The options have an exercise price of $1.09, a ten-year term and vest quarterly over one year. Additionally, in conjunction with incentive compensation, the Company issued options covering 950,000 shares of common stock to management. The options have an exercise price of $1.09, a ten-year term and vest annually over three years beginning June 1, 2017.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
No definition available.