4. FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Feb. 28, 2015

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 February 28, 2015 (in thousands):

	Balance as of
	February 28,
	2015		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	$	--	$	--	$	--	$	--