4. FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Aug. 31, 2013

Fair Value Of Financial Instruments 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, 2013 (in thousands):

	Balance as of
	August 31, 2013	Level 1	Level 2	Level 3
Money market funds	$   402	$  402	$    --	$    --
Assets	$   402	$  402	$    --	$    --
Liabilities	$    ---	$   ---	$    --	$    --

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of May 31, 2013 (in thousands):

	Balance as of
	May 31, 2013	Level 1	Level 2	Level 3
Money market funds	$ 102	$  102	$    --	$    --
Assets	$ 102	$  102	$    --	$    --
Liabilities	$  ---	$   --	$    --	$    --