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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
May 31, 2016
STOCK-BASED COMPENSATION (Tables)  
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, 2014

 

129,500

 

1.88

 

9.74

 

20,825

Granted

 

30,000

 

1.30

 

10.00

 

-

Exercised

 

-

 

-

 

-

 

-

Forfeited or expired

 

(12,500)

 

1.84

 

-

 

-

 

 

 

 

 

 

 

 

 

Outstanding options at May 31, 2015

 

147,000

 

1.77

 

8.54

 

2,625

Granted

 

2,500

 

1.00

 

10.00

 

-

Exercised

 

-

 

-

 

-

 

-

Forfeited or expired

 

-

 

-

 

-

 

-

 

 

 

 

 

 

 

 

 

Outstanding options at May 31, 2016

 

149,500

$

1.75

 

7.56

$

4,325

 

 

 

 

 

 

 

 

 

Exercisable at May 31, 2016

 

143,653

$

1.77

 

7.53

$

4,269