Consolidated Balance Sheets (Unaudited) (USD $)	Nov. 30, 2012	May 31, 2012
Current Assets:
Cash	$ 313,300	$ 194,400
Accounts receivable, net of allowance of $50,000	1,720,683	2,715,893
Accounts receivable - related party	842,441	0
Inventory	1,133,562	956,638
Prepaid expenses and other	168,796	45,090
Total Current Assets	4,178,782	3,912,021
Property, Plant and Equipment	15,414,237	15,134,061
Less: Accumulated Depreciation	(7,988,371)	(7,335,883)
Property, Plant and Equipment, net	7,425,866	7,798,178
Deferred Tax Asset	804,300	585,000
Other Assets	75,786	86,454
Total Assets	12,484,734	12,381,653
Current Liabilities:
Current portion of long-term debt	1,285,911	1,286,312
Preferred dividends payable	3,088,834	2,924,108
Accounts payable and accrued expenses	2,109,309	2,581,787
Accounts payable and accrued expenses - related parties	1,417,001	1,285,714
Total Current Liabilities	7,901,055	8,077,921
Long-Term Debt, net of current portion	10,119,060	10,757,561
Deficit:
Preferred stock; $0.0001 par value; $5,000,000 liquidation preference; 20,750,000 shares authorized; 50,000 shares issued and outstanding	5	5
Common stock; $0.0001 par value; 5,000,000,000 shares authorized; 26,111,201 shares outstanding	2,611	2,611
Additional paid-in capital	53,116,005	53,089,293
Accumulated deficit	(59,751,535)	(60,586,143)
Total Greystone Stockholders’ Deficit	(6,632,914)	(7,494,234)
Non-controlling interests	1,097,533	1,040,405
Total Deficit	(5,535,381)	(6,453,829)
Total Liabilities and Deficit	$ 12,484,734	$ 12,381,653