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RETIREMENT PLAN
12 Months Ended
May 31, 2013
RETIREMENT PLAN [Abstract]  
RETIREMENT PLAN

Note 14.  RETIREMENT PLAN

 

Greystone sponsors a retirement plan for the benefit of all eligible employees. The retirement plan qualifies under Section 401(k) of the Internal Revenue Code thereby allowing eligible employees to make tax-deferred contributions. The retirement plan provides that Greystone may elect to make employer-matching contributions equal to a percentage of each participant's voluntary contribution and may also elect to make profit sharing contributions. Greystone has never made any matching or profit sharing contributions to the retirement plan.