4. FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Nov. 30, 2014

Fair Value Disclosures [Abstract]

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, 2014 (in thousands):

	Balance as of
	November 30, 2014		Level 1		Level 2		Level 3
Money market funds	$	500	$	500	$	—	$	—
Certificate of deposit		50		—		50		—
Assets	$	550	$	500	$	50	$	—
Liabilities	$	—	$	—	$	—	$	—

     The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of May 31, 2014 (in thousands):

	Balance as of
	May 31, 2014		Level 1		Level 2		Level 3
Money market funds	$	477	$	477	$	—	$	—
Certificate of deposit		50		—		50		—
Assets	$	527	$	477	$	50	$	—
Liabilities	$	—	$	—	$	—	$	—