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Stock options Activity (Tables)
 9 Months Ended
Feb. 28, 2013
Stock options Activity  
Stock options Activity

The following table summarizes option activity under the 1994 Stock Option Plan and 2011 Plan:

 

 

 

Weighted

 

Weighted-

 

 

 

 

 

Average

 

Average

 

 

 

Number of

 

Exercise Price

 

Remaining

 

Aggregate

 

Options

 

Per Share

 

Life (in years)

 

Intrinsic Value

 

 

 

 

 

 

 

 

Outstanding options at May 31, 2011

1,350

$

1.80

 

0.50

$

810

Granted

10,000

 

2.40

 

10.00

 

-

Exercised

-

 

-

 

-

 

-

Forfeited or expired

(1,350)

 

0.86

 

-

 

-

 

 

 

 

 

 

 

 

Outstanding options at May 31, 2012

10,000

 

2.40

 

9.02

 

-

Granted

-

 

-

 

-

 

-

Exercised

-

 

-

 

-

 

-

Forfeited or expired

-

 

-

 

-

 

-

 

 

 

 

 

 

 

 

Outstanding options at February 28, 2013

10,000

$

2.40

 

8.28

$

6,600

 

 

 

 

 

 

 

 

Exercisable at February 28, 2013

5,556

$

2.40

 

8.28

$

3,667