Quarterly report pursuant to sections 13 or 15(d)

Convertible Instruments (Tables)

v2.4.0.8
Convertible Instruments (Tables)
9 Months Ended
Feb. 28, 2014
Activity Related to Notes

Activity related to the Notes was as follows:

 

     February 28, 2014     May 31, 2013  

Face amount of Notes

   $ 7,221,250      $ 6,588,250   
  

 

 

   

 

 

 

Unamortized discount

     (2,290,019     (4,539,886

Exercise Right of Repayment

     (250,000     —     

Conversions

     (2,450,000     (567,000
  

 

 

   

 

 

 

Total carrying value of Notes

     2,231,231        1,481,364   

Short-term portion of Notes

     (248,423     (328,347
  

 

 

   

 

 

 

Long-term portion of Notes

   $ 1,982,808      $ 1,153,017