SUMMARY OF THE CHANGES IN PRINCIPAL AMOUNT OF THE DEBT AGREEMENTS (Tables)

3 Months Ended

Aug. 31, 2016

SUMMARY OF THE CHANGES IN PRINCIPAL AMOUNT OF THE DEBT AGREEMENTS:

SUMMARY OF THE CHANGES IN PRINCIPAL AMOUNT OF THE DEBT AGREEMENTS

The following summary details the changes in principal amount owed under each of the debt agreements with Essig (in thousands):

		Note		Short Term Note		Total
Balance at May 31, 2014	$	-	$	-	$	-
Borrowings		750		300		1,050
Repayments		(604)		-		(604)
Balance at May 31, 2015		146		300		446
Borrowing		-		578		578
Repayments		-		(124)		(124)
Balance at May 31, 2016		146		754		900
Borrowing		-		350		350
Repayments		-		-		-
Balance at August 31, 2016		146		1,104		1,250