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STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Feb. 28, 2015
Summarizes option activity  
Summarizes option activity

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

 

 

 

Number of Options

 

Weighted Average Exercise Price Per Share

 

Weighted-Average Remaining Life (in years)

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

Outstanding options at May 31, 2013

 

10,000

 

2.40

 

8.02

 

-

Granted

 

124,500

 

1.84

 

10.00

 

-

Exercised

 

-

 

-

 

-

 

-

Forfeited or expired

 

(5,000)

 

1.11

 

-

 

-

 

 

 

 

 

 

 

 

 

Outstanding options at May 31, 2014

 

129,500

 

1.88

 

9.74

 

20,825

Granted

 

27,500

 

1.33

 

10.00

 

-

Exercised

 

-

 

-

 

-

 

-

Forfeited or expired

 

(12,500)

 

1.84

 

-

 

-

 

 

 

 

 

 

 

 

 

Outstanding options at February 28, 2015

 

144,500

$

1.78

 

8.77

$

13,000

 

 

 

 

 

 

 

 

 

Exercisable at February 28, 2015

 

59,677

$

1.82

 

8.09

$

5,125