4. FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Aug. 31, 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 August 31, 2015 (in thousands):

	Balance as of August 31, 2015		Level 1		Level 2		Level 3
Money market funds	$	2,900	$	2,900	$	--	$	--
Certificate of deposit		50		--		50		--
Assets	$	2,950	$	2,900	$	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, 2015 (in thousands):

	Balance as of
	May 31, 2015		Level 1		Level 2		Level 3
Money market funds	$	4,650	$	4,650	$	--	$	--
Certificate of deposit		50		--		50		--
Assets	$	4,700	$	4,650	$	50	$	--
Liabilities	$	--	$	--	$	--	$	--