4. FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Nov. 30, 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 November 30, 2013 (in thousands):

	Balance as of
	November 30, 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	$	--	$	--	$	--	$	--