FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

May 31, 2014

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables):

Assets and Liabilities measured at fair value (Tables)

The following table summarizes the valuation of the Company's assets and liabilities measured at fair value on a recurring basis as of May 31, 2014:

		(in thousands)
		Total		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets:
Holdback Payment and Earn-Out Payments	$	895	$	-	$	-	$	895
Total assets at fair value	$	895	$	-	$	-	$	895

Summary of the changes in fair value of the Holdback Payment and Earn-Out Payments (Tables)

The table below provides a summary of the changes in fair value of the Level 3 classified Holdback Payment and Earn-Out Payments asset for the year ended May 31, 2014:

		(in thousands)
		Contingent Consideration for the Year Ended May 31, 2014
Fair value at inception	$	922
Payments received		(44)
Change in fair value		17
Fair value at end of period	$	895