Stock Options

12 Months Ended

May 31, 2018

Stock Options

Stock Options

Note 10. STOCK OPTIONS

Greystone has a stock option plan that provides for the granting of options to key employees and non-employee directors. The options are to purchase common stock at not less than fair market value at the date of the grant. Stock options generally expire in ten years from the date of grant or upon termination of employment, and are generally exercisable one year from date of grant in cumulative annual installments of 25%. Following is a summary of option activity for the two years ended May 31, 2018:

	Number			Weighted Average Exercise Price		Remaining Contractual Life (years)		Intrinsic Value
Total outstanding, May 31, 2016		675,000		$	0.12
Exercised during fiscal year 2017		(475,000	)	$	0.12
Total outstanding May 31, 2017		200,000		$	0.12
Total outstanding May 31, 2018		200,000		$	0.12		4.0
Exercisable as of May 31, 2018		200,000		$	0.12		4.0	$	54,000
Non-vested as of May 31, 2018		-0-

Share-based compensation cost was $-0- and $53,424 for fiscal years 2018 and 2017, respectively.