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SHAREHOLDERS' EQUITY (Tables)
12 Months Ended
May 31, 2012
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

 

 

 

 

                                                            

NUMBER OF STOCK OPTIONS AND WARRANTS

WEIGHTED AVERAGE PRICE RANGE PER SHARE

EXERCISE PRICE

Options and warrants outstanding at May 31, 2010

1,319,999 

$0.30 - $1.30

$0.77

Options granted

348,000 

$0.38 - $0.40

$0.39

Options and warrants exercised

(207,500)

$0.40

$0.40

Options and warrants canceled or expired

(460,249)

$0.40 - $0.73

$0.48

Options and warrants outstanding at May 31, 2011

1,000,250 

$0.30 - $1.30

$0.57

Options granted

412,500 

$0.43 - $0.73

$0.44

Options and warrants exercised

(84,000)

$0.38 - $0.73

$0.59

Options and warrants canceled or expired

(324,250)

$0.38 - $1.30

$0.71

Options and warrants outstanding at May 31, 2012        

1,004,500 

$0.30 - $0.75

$0.46

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

 

 

 

 

 

 

RANGE OF EXERCISE PRICES

WEIGHTED NUMBER OUTSTANDING 5/31/2012

AVERAGE REMAINING CONTRACTUAL LIFE IN YEARS

WEIGHTED AVERAGE EXERCISE PRICE

NUMBER EXERCISABLE AT MAY 31, 2012

WEIGHTED AVERAGE EXERCISE PRICE

$0.30 - $0.50

809,500

3.84

$0.42

214,750

$0.41

$0.51 - $0.75

195,000

3.75

$0.66

185,000

$0.66