4. FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Aug. 31, 2012

Fair Value Measurements Tables

Fair Value by Hierarchy

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of August 31, 2012 (in thousands):

(in thousands)	Balance as of
	August 31, 2012		Level 1		Level 2		Level 3
Money market funds	$	2	$	2	$	--	$	--
Assets	$	2	$	2	$	--	$	--
Liabilities	$	--	$	--	$	--	$	--

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of May 31, 2012 (in thousands):

(in thousands)	Balance as of
	May 31, 2012		Level 1		Level 2		Level 3
Money market funds	$	2	$	2	$	--	$	--
Assets	$	2	$	2	$	--	$	--
Liabilities	$	--	$	--	$	--	$	--