Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Aug. 31, 2014 | Oct. 17, 2014 | |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Aug-14 | ' |
Trading Symbol | 'mvtg | ' |
Entity Registrant Name | 'Mantra Venture Group Ltd. | ' |
Entity Central Index Key | '0001413891 | ' |
Current Fiscal Year End Date | '--05-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 70,717,692 |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well Known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2015 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Consolidated_balance_sheets
Consolidated balance sheets (USD $) | Aug. 31, 2014 | 31-May-14 |
Current assets | ' | ' |
Cash | $503,714 | $931,886 |
Amounts receivable | 47,456 | 163,591 |
Prepaid expenses and deposits | 507,412 | 504,697 |
Total current assets | 1,058,582 | 1,600,174 |
Restricted cash | 27,349 | 27,374 |
Property and equipment | 90,182 | 94,231 |
Intangible assets | 51,357 | 29,547 |
Total assets | 1,227,470 | 1,751,326 |
Current liabilities | ' | ' |
Accounts payable and accrued liabilities | 658,636 | 715,053 |
Due to related parties | 83,699 | 159,994 |
Loans payable | 204,007 | 204,176 |
Obligations under capital lease | 16,383 | 8,246 |
Convertible debentures(net of discount of $6,705) | 140,617 | 164,660 |
Total current liabilities | 1,103,342 | 1,252,129 |
Obligations under capital lease | 9,721 | 19,856 |
Convertible debentures (net of discount of $160,208) | 21,792 | 16,640 |
Total liabilities | 1,134,855 | 1,288,625 |
Mantra Venture Group Ltd. stockholders' equity | ' | ' |
Preferred stock Authorized: 20,000,000 shares, par value $0.00001 Issued and outstanding: Nil shares | 0 | 0 |
Common stock Authorized: 100,000,000 shares, par value $0.00001 Issued and outstanding: 70,692,692 (May 31, 2014 - 69,157,322) shares | 707 | 692 |
Additional paid-in capital | 10,132,483 | 9,679,880 |
Subscriptions receivable | -23,791 | -1,791 |
Common stock subscribed | 84,742 | 216,391 |
Accumulated deficit | -9,966,654 | -9,314,295 |
Total Mantra Venture Group Ltd. stockholders' equity | 227,487 | 580,877 |
Non-controlling interest | -134,872 | -118,176 |
Total stockholders' equity | 92,615 | 462,701 |
Total liabilities and stockholders' equity | $1,227,470 | $1,751,326 |
Consolidated_balance_sheets_Pa
Consolidated balance sheets (Parenthetical) (USD $) | Aug. 31, 2014 | 31-May-14 |
Discount | $6,705 | $0 |
Discount | $160,208 | $0 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Par or Stated Value Per Share | $0.00 | $0.00 |
Preferred Stock, Shares Issued | ' | ' |
Preferred Stock, Shares Outstanding | ' | ' |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 |
Common Stock, Shares, Issued | 70,692,692 | 69,157,322 |
Common Stock, Shares, Outstanding | 70,692,692 | 69,157,322 |
Consolidated_statements_of_ope
Consolidated statements of operations (USD $) | 3 Months Ended | |
Aug. 31, 2014 | Aug. 31, 2013 | |
Revenue | $55,230 | $0 |
Cost of goods sold | 0 | 0 |
Gross profit | 55,230 | 0 |
Operating expenses | ' | ' |
Business development | 10,225 | 0 |
Consulting and advisory | 136,394 | 40,700 |
Depreciation and amortization | 9,984 | 7,524 |
Foreign exchange loss (gain) | -22,546 | -13,700 |
General and administrative | 61,367 | 9,524 |
Management fees | 59,458 | 46,521 |
Professional fees | -2,943 | 30,637 |
Public listing costs | 13,055 | 1,069 |
Rent | 17,984 | 10,649 |
Research and development | 342,435 | 86,672 |
Shareholder communications and awareness | 0 | 240 |
Travel and promotion | 68,221 | 18,458 |
Wages and benefits | 12,917 | 0 |
Total operating expenses | 706,551 | 238,294 |
Loss before other expense | -651,321 | -238,294 |
Other expense | ' | ' |
Accretion of discounts on convertible debentures | -8,449 | -9,014 |
Interest expense | -9,285 | -13,508 |
Total other expense | -17,734 | -22,522 |
Net loss for the period | -669,055 | -260,816 |
Less: net loss attributable to the non-controlling interest | 16,696 | 13,053 |
Net loss attributable to Mantra Venture Group Ltd. | ($652,359) | ($247,763) |
Net loss per share attributable to Mantra Venture Group Ltd. common shareholders, basic and diluted | ($0.01) | ' |
Weighted average number of shares outstanding used in the calculation of net loss attributable to Mantra Venture Group Ltd. per common share | 70,323,401 | 56,182,413 |
Consolidated_statements_of_cas
Consolidated statements of cash flows (USD $) | 3 Months Ended | |
Aug. 31, 2014 | Aug. 31, 2013 | |
Operating activities | ' | ' |
Net loss | ($669,055) | ($260,816) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Accretion of discounts on convertible debentures | 8,449 | 9,014 |
Depreciation and amortization | 9,984 | 7,524 |
Foreign exchange loss (gain) | 755 | -2,298 |
Stock-based compensation | 223,091 | 38,200 |
Changes in operating assets and liabilities: | ' | ' |
Amounts receivable | 116,135 | -32,051 |
Prepaid expenses and deposits | 3,165 | -22,799 |
Accounts payable and accrued liabilities | -56,417 | 139,827 |
Due to related parties | -76,295 | -5,558 |
Net cash used in operating activities | -440,188 | -128,957 |
Investing activities | ' | ' |
Purchase of property and equipment | -5,330 | -1,481 |
Investment in intangible assets | -22,415 | 0 |
Restricted cash | 0 | 0 |
Net cash used in investing activities | -27,745 | -1,481 |
Financing activities | ' | ' |
Repayment of capital lease obligations | -2,899 | -1,793 |
Proceeds from loans payable | 0 | 18,000 |
Repayment of loan payable | -27,339 | -4,813 |
Proceeds from issuance of common stock and subscriptions received | 69,999 | 123,727 |
Net cash provided by financing activities | 39,761 | 135,121 |
Change in cash | -428,172 | 4,683 |
Cash, beginning of period | 931,886 | 25,387 |
Cash, end of period | 503,714 | 30,070 |
Non-cash investing and financing activities: | ' | ' |
Common stock issued to relieve common stock subscribed | 141,649 | 0 |
Common stock issued for pre-paid asset | 5,880 | 0 |
Supplemental disclosures: | ' | ' |
Interest paid | 942 | 1,249 |
Income taxes paid | $0 | $0 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended | |
Aug. 31, 2014 | ||
Basis of Presentation [Text Block] | ' | |
1 | Basis of Presentation | |
Mantra Venture Group Ltd. (the “Company”) was incorporated in the State of Nevada on January 22, 2007 to acquire and commercially exploit various new energy related technologies through licenses and purchases. On December 8, 2008, the Company continued its corporate jurisdiction out of the State of Nevada and into the province of British Columbia, Canada. The Company is in the business of developing and providing energy alternatives. The Company also provides marketing and graphic design services to help companies optimize their environmental awareness presence through the eyes of government, industry and the general public. | ||
The accompanying unaudited consolidated interim financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2014. In the opinion of management, the accompanying financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. | ||
The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year. | ||
These unaudited consolidated financial statements financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has yet to acquire commercially exploitable energy related technology, and is unlikely to generate earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of management to raise additional equity capital through private and public offerings of its common stock, and the attainment of profitable operations. As at August 31, 2014, the Company has accumulated losses of $9,966,654 since inception. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | ||
Management requires additional funds over the next twelve months to fully implement its business plan. Management is currently seeking additional financing through the sale of equity and from borrowings from private lenders to cover its operating expenditures. There can be no certainty that these sources will provide the additional funds required for the next twelve months. |
Significant_Accounting_Policie
Significant Accounting Policies | 3 Months Ended | ||
Aug. 31, 2014 | |||
Significant Accounting Policies [Text Block] | ' | ||
2 | Significant Accounting Policies | ||
(a) | Principles of Consolidation | ||
These unaudited consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States. These unaudited consolidated financial statements include the accounts of the Company and its subsidiaries, Carbon Commodity Corporation, Climate ESCO Ltd., Mantra Energy Alternatives Ltd., Mantra China Inc., Mantra China Limited, Mantra Media Corp., Mantra NextGen Power Inc., and Mantra Wind Inc. All the subsidiaries are wholly-owned with the exception of Climate ESCO Ltd., which is 64.84%owned and Mantra Energy Alternatives Ltd., which is 89.09% owned. All inter- company balances and transactions have been eliminated. | |||
(b) | Recent Accounting Pronouncements | ||
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Restricted_Cash
Restricted Cash | 3 Months Ended | |
Aug. 31, 2014 | ||
Restricted Cash [Text Block] | ' | |
3 | Restricted Cash | |
Restricted cash represents cash pledged as security for the Company’s credit cards. |
Property_and_Equipment
Property and Equipment | 3 Months Ended | |||||||||||||
Aug. 31, 2014 | ||||||||||||||
Property and Equipment [Text Block] | ' | |||||||||||||
4 | Property and Equipment | |||||||||||||
August 31, | May 31, | |||||||||||||
2014 | 2014 | |||||||||||||
Accumulated | Net carrying | Net carrying | ||||||||||||
Cost | depreciation | value | value | |||||||||||
$ | $ | $ | $ | |||||||||||
Furniture and equipment | 2,496 | 83 | 2,413 | – | ||||||||||
Computer | 5,341 | 3,270 | 2,071 | 2,821 | ||||||||||
Research equipment | 111,802 | 60,787 | 51,015 | 51,030 | ||||||||||
Vehicles under capital lease | 68,340 | 33,657 | 34,683 | 40,380 | ||||||||||
187,979 | 97,797 | 90,182 | 94,231 |
Intangible_Assets
Intangible Assets | 3 Months Ended | |||||||||||||
Aug. 31, 2014 | ||||||||||||||
Intangible Assets [Text Block] | ' | |||||||||||||
5 | Intangible Assets | |||||||||||||
August 31, | May 31, | |||||||||||||
2014 | 2014 | |||||||||||||
Accumulated | Net carrying | Net carrying | ||||||||||||
Cost | depreciation | value | value | |||||||||||
$ | $ | $ | $ | |||||||||||
Patents | 52,748 | 1,391 | 51,357 | 29,547 | ||||||||||
Estimated Amortization Expense: | ||||||||||||||
$ | ||||||||||||||
For year ended May 31, 2015 | 2,118 | |||||||||||||
For year ended May 31, 2016 | 2,824 | |||||||||||||
For year ended May 31, 2017 | 2,824 | |||||||||||||
For year ended May 31, 2018 | 2,824 | |||||||||||||
For year ended May 31, 2019 | 2,824 |
Related_Party_Transactions
Related Party Transactions | 3 Months Ended | ||
Aug. 31, 2014 | |||
Related Party Transactions [Text Block] | ' | ||
6 | Related Party Transactions | ||
(a) | During the three months ended August 31, 2014, the Company incurred management fees of $44,628 (2013 - $28,912) and rent of $Nil (2013 - $4,500) to the President of the Company. | ||
(b) | During the three months ended August 31, 2014, the Company incurred management fees of $14,830 (2013 - $14,456) to the spouse of the President of the Company. | ||
(c) | During the three months ended August 31, 2014, the Company incurred research and development fees of $15,080 (2013 - $14,456 management fees) to a director of the Company. | ||
(d) | As at August 31, 2014, the Company owes a total of $87,074 (May 31, 2014 - $124,857) to the President of the Company and a company controlled by the President of the Company which is non-interest bearing, unsecured, and due on demand. | ||
(e) | As at August 31, 2014, the Company is owed $24,860 (May 31, 2014–owes $13,619) from the spouse of the President of the Company which is non-interest bearing, unsecured, and due on demand. | ||
(f) | As at August 31, 2014, the Company owes $21,485 (May 31, 2014- $21,518) to an officer and a director of the Company, which is non-interest bearing, unsecured, and due on demand. |
Loans_Payable
Loans Payable | 3 Months Ended | ||
Aug. 31, 2014 | |||
Loans Payable [Text Block] | ' | ||
7 | Loans Payable | ||
(a) | As at August 31, 2014, the amount of $58,160 (Cdn$63,300) (May 31, 2014 - $58,251 (Cdn$63,300)) is owed to a non-related party which is non-interest bearing, unsecured, and due on demand. | ||
(b) | As at August 31, 2014, the amount of $17,500 (May 31, 2014 - $17,500) is owed to a non-related party which is non-interest bearing, unsecured, and due on demand. | ||
(c) | As at August 31, 2014, the amount of $15,000 (May 31, 2014 - $15,000) is owed to a non-related party which is non-interest bearing, unsecured, and due on demand. | ||
(d) | As at August 31, 2014, the amount of $17,361 (Cdn$18,895) (May 31, 2014 – $17,387 (Cdn$18,895)) is owed to a non-related party, which is non-interest bearing, unsecured, and due on demand. | ||
(e) | As at August 31, 2014, the amounts of $7,500 and $33,996 (Cdn$37,000) (May 31, 2014 - $7,500 and $34,048, (Cdn$37,000)) are owed to a non-related party which are non-interest bearing, unsecured, and due on demand. | ||
(f) | As at August 31, 2014, the amount of $4,490 (May 31, 2013- $4,490) is owed to a non-related party which is non- interest bearing, unsecured, and due on demand. | ||
(g) | In March 2012, the Company received $50,000 for the subscription of 10,000,000 shares of the Company’s common stock. During the year ended May 31, 2013, the Company and the subscriber agreed that the shares would not be issued and that the subscription would be returned. The subscription has been reclassified as a non-interest bearing demand loan until the funds are refunded to the subscriber. |
Obligations_Under_Capital_Leas
Obligations Under Capital Lease | 3 Months Ended | ||||
Aug. 31, 2014 | |||||
Obligations Under Capital Lease [Text Block] | ' | ||||
8 | Obligations Under Capital Lease | ||||
On July 31, 2012 and December 21, 2012, the Company entered into two agreements to lease two vehicles for three years each. The vehicle leases are classified as a capital leases. The following is a schedule by years of future minimum lease payments under capital leases together with the present value of the net minimum lease payments as of August 31, 2014: | |||||
Year ending May 31: | $ | ||||
2015 | 8,692 | ||||
2016 | 20,853 | ||||
Net minimum lease payments | 29,545 | ||||
Less: amount representing interest payments | (3,441 | ) | |||
Present value of net minimum lease payments | 26,104 | ||||
Less: current portion | (16,383 | ) | |||
Long-term portion | 9,721 | ||||
At the end of both leases, the Company has the option to purchase the vehicles for $9,000 each. |
Convertible_Debentures
Convertible Debentures | 3 Months Ended | ||
Aug. 31, 2014 | |||
Convertible Debentures [Text Block] | ' | ||
9 | Convertible Debentures | ||
(a) | In October 2008, the Company issued three convertible debentures for total proceeds of $250,000 which bear interest at 10% per annum, are unsecured, and due one year from date of issuance. The unpaid amount of principal and accrued interest can be converted at any time at the holder’s option into 625,000 shares of the Company’s common stock at a price of $0.40 per share. The Company also issued 250,000 detachable, non-transferable share purchase warrants. Each share purchase warrant entitles the holder to purchase one additional share of the Company’s common stock for a period of two years from the date of issuance at an exercise price of $0.50 per share. | ||
In accordance with ASC 470-20, “ Debt with Conversion and Other Options ”, the Company determined that the convertible debentures contained no embedded beneficial conversion feature as the convertible debentures were issued with a conversion price higher than the fair market value of the Company’s common shares at the time of issuance. | |||
In accordance with ASC 470-20, the Company allocated the proceeds of issuance between the convertible debt and the detachable share purchase warrants based on their relative fair values. Accordingly, the Company recognized the fair value of the share purchase warrants of $45,930 as additional paid-in capital and an equivalent discount against the convertible debentures. The Company had recorded accretion expense of $45,930, increasing the carrying value of the convertible debentures to $250,000. | |||
On January 19, 2012, the Company entered into a settlement agreement with one of the debenture holders to settle a $50,000 convertible debenture and $122,535 in accounts payable and accrued interest with the debt holder. Pursuant to the agreement, the debt holder agreed to reduce the debt to Cdn$100,000 on the condition that the Company pays the amount of Cdn$2,500 per month for 40 months, beginning March 1, 2012 and continuing on the first day of each month thereafter. | |||
On July 18, 2012, the Company entered into a settlement agreement with the $150,000 debenture holder. Pursuant to the settlement agreement, the lender agreed to extend the due date until April 11, 2013 and the Company agreed to pay $43,890 of accrued interest within five days of the agreement (paid), pay the accruing interest on a monthly basis (paid), and pay a $10,000 premium in addition to the $150,000 principal outstanding on April 11, 2013.On April 29, 2013, the Company entered into an amended settlement agreement whereby the lender agreed to extend the due date to September 15, 2013 and the Company agreed to pay $6,836 of interest for the period from April 1 to September 15, 2013 upon execution of the agreement (paid) and granted the lender 100,000 stock options exercisable at $0.12 per share for a period of two years. | |||
On November 15, 2013, the Company entered into a second settlement agreement amendment. Pursuant to the second amendment, on November 15, 2013, the Company agreed to pay interest of $4,438 (paid) and commencing February 1, 2014, the Company would make monthly payments of $10,000 on the outstanding principal and interest. | |||
The Company evaluated the modifications and determined that the creditor did not grant a concession. In addition, as the present value of the amended future cash flows had a difference of less than 10% of the cash flows of the original debt, it was determined that the original and new debt instruments are not substantially different. As a result, the modification was not treated as an extinguishment of the debt and no gain or loss was recognized. The Company recorded the fair value of $12,901 for the stock options as additional paid-in capital and a discount. During the year ended May 31, 2014, the Company repaid $40,000 of the debenture. As at May 31, 2014 the Company had accreted $12,901 of the discount bring the carrying value of the convertible debenture to $114,661.During the three months ended August 31, 2014, the Company repaid $27,339 decreasing the carrying value to $87,322. | |||
(b) | On August 19, 2013, the Company issued a convertible debenture for total proceeds of $10,000, which bears interest at 10% per annum, is unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $10,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $10,000. As at August 31, 2014, the carrying value of the convertible promissory note was $3,295. | ||
(c) | On September 11, 2013, the Company issued a convertible debenture for total proceeds of $58,000, which bears interest at 10% per annum, is unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $58,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $58,000. As at August 31, 2014, the carrying value of the convertible promissory note was $7,204. | ||
(d) | On October 18, 2013, the Company issued a convertible debenture for total proceeds of $94,000, which bears interest at 10% per annum, is unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $94,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $94,000. As at August 31, 2014, the carrying value of the convertible promissory note was $7,235. | ||
(e) | On December 27, 2013, the Company issued three convertible debentures for total proceeds of $15,000, which bear interest at 10% per annum, are unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion features of $15,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $15,000. As at August 31, 2014, the carrying value of the convertible promissory note was $5,182. | ||
(f) | On February 4, 2014, the Company issued a convertible debenture for total proceeds of $15,000, which bears interest at 10% per annum, is unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $15,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $15,000. As at August 31, 2014, the carrying value of the convertible promissory note was $2,171. |
Common_Stock
Common Stock | 3 Months Ended | ||
Aug. 31, 2014 | |||
Common Stock [Text Block] | ' | ||
10 | Common Stock | ||
(a) | At August 31, 2014, the Company had received proceeds of $2,080 at $0.08 per unit for subscriptions for 26,000 units. Each unit consisted of one share of common stock and one-half of one share purchase warrant. Each whole share purchase warrant is exercisable at $0.20 per common share for a period of two years or five business days after the Company’s common stock trades at least one time per day on the FINRA Over-the-Counter Bulletin Board at a price at or above $0.40 per share for seven consecutive trading days. | ||
(b) | At August 31, 2014, the Company had received proceeds of $32,625 for subscriptions for 140,500 shares of common stock upon the exercise of warrants. | ||
(c) | As at August 31, 2014 the Company’s subsidiary, Mantra Energy Alternatives Ltd., had received subscriptions for 67,000 shares of common stock at Cdn$1.00 per share for proceeds of $66,277 (Cdn$67,000), which is included in common stock subscribed, net of the non-controlling interest portion of $7,231. | ||
(d) | As at August 31, 2014, the Company’s subsidiary, Climate ESCO Ltd., had received subscriptions for 210,000 shares of common stock at $0.10 per share for proceeds of $21,000, which is included in common stock subscribed, net of the non-controlling interest portion of $7,384. | ||
(e) | At August 31, 2014, the Company has included the fair value of $10,000 for 20,000 shares issuable pursuant to the consulting agreement described in Note 13(d). | ||
Stock transactions during the three months ended August 31, 2014: | |||
(f) | On June 4, 2014, the Company issued 333,333 units at $0.30 per unit for proceeds of $100,000 included in common stock subscribed at May 31, 2014. Each unit consists of one share of common stock and one share purchase warrant. Each share purchase warrant is exercisable at $0.80 per common share for a period of three years or five business days after the Company’s common stock trades at least one time per day on the FINRA Over-the-Counter Bulletin Board at a price at or above $1.60 per share for seven consecutive trading days. At May 31, 2014, the proceeds of $100,000 were included in common stock subscribed. | ||
(g) | On June 4, 2014, the Company issued 240,000 shares for proceeds of $61,625 upon the exercise of warrants. At May 31, 2014, the proceeds of $32,625 were included in common stock subscribed. | ||
(h) | On June 4, 2014, the Company issued 500,000 shares with a fair value of $270,000 to a consultant for services. As at May 31, 2014, the Company recorded the fair value of the 500,000 shares issuable of $270,000 as $5 of subscriptions receivable and $269,995 as additional paid in capital. | ||
(i) | On July 11, 2014, the Company issued 200,000 units at $0.30 per unit for proceeds of $60,000. Each unit consists of one share of common stock and one share purchase warrant. Each share purchase warrant is exercisable at $0.80 per common share for a period of three years or five business days after the Company’s common stock trades at least one time per day on the FINRA Over-the-Counter Bulletin Board at a price at or above $1.60 per share for seven consecutive trading days. | ||
(j) | On June 30, and July 17, 2014, the Company issued 40,000 common shares with a fair value of $20,000 pursuant to the consulting agreement described in Note 13(d). | ||
(k) | On July 10, 2014, the Company issued 60,037 common shares for the conversion of $5,000 of loans payable and $4,019 of accrued interest by a lender. At May 31, 2014, the shares were was included in common stock subscribed. | ||
(l) | On August 22, 2014 the Company entered into an agreement with one consultant to procure investor relations services. Pursuant to the agreement the Company issued 12,000 shares of common stock to the consultant with a fair value of $5,880 which is included in prepaid expenses at August 31, 2014. | ||
(m) | On August 25, 2014 the Company issued 150,000 common shares to a director of the Company in exercise of options at an exercise price of $0.02 per share for aggregate proceeds of $3,000. |
Share_Purchase_Warrants
Share Purchase Warrants | 3 Months Ended | |||||||
Aug. 31, 2014 | ||||||||
Share Purchase Warrants [Text Block] | ' | |||||||
11 | Share Purchase Warrants | |||||||
The following table summarizes the continuity of share purchase warrants: | ||||||||
Weighted average | ||||||||
Number of | exercise price | |||||||
warrants | $ | |||||||
(a) | (b) | |||||||
Balance, May 31, 2014 | 9,818,402 | 0.29 | ||||||
Issued | 533,333 | 0.8 | ||||||
Exercised | (240,000 | ) | 0.26 | |||||
Expired | (5,503,402 | ) | 0.23 | |||||
Balance, August 31, 2014 | 4,608,337 | 0.4 | ||||||
As at August 31, 2014, the following share purchase warrants were outstanding: | ||||||||
Exercise | ||||||||
Number of | price | |||||||
warrants | $ | Expiry date | ||||||
4,075,000 | 0.37 | 10-Apr-19 | ||||||
333,333 | 0.8 | 4-Jun-17 | ||||||
200,000 | 0.8 | 11-Jul-17 | ||||||
4,608,337 |
Stock_Options
Stock Options | 3 Months Ended | |||||||||||||
Aug. 31, 2014 | ||||||||||||||
Stock Options [Text Block] | ' | |||||||||||||
12 | Stock Options | |||||||||||||
On June 1, 2014, the Company granted 150,000 stock options exercisable at $0.02 per share for a period of two years to a director. The Company recorded the fair value of the options of $94,600 as research and development fees. | ||||||||||||||
On July 17, 2014, the Company granted 200,000 stock options exercisable at $0.30 per share for a period of two years to two consultants. The options vest 25% every six months following the date of grant. The Company recorded the fair value of the vested portion of the options of $9,590 as consulting fees. | ||||||||||||||
On August 1, 2014, the Company granted 100,000 stock options each to two consultants. The options are exercisable at $0.10 per share for a period of two years. The Company recorded the fair value of the options of $88,900 as consulting fees. | ||||||||||||||
The following table summarizes the continuity of the Company’s stock options: | ||||||||||||||
Weighted | Weighted average | Aggregate | ||||||||||||
average | remaining | intrinsic | ||||||||||||
Number | exercise price | contractual life | value | |||||||||||
of options | $ | (years) | $ | |||||||||||
Outstanding, May 31, 2014 | 675,000 | 0.17 | ||||||||||||
Granted | 550,000 | 0.15 | ||||||||||||
Exercised | (150,000 | ) | 0.02 | |||||||||||
Outstanding, August 31, 2014 | 1,075,000 | 0.18 | 1.34 | 396,250 | ||||||||||
Exercisable, August 31, 2014 | 875,000 | 0.15 | 1.21 | 346,250 | ||||||||||
A summary of the changes of the Company’s non-vested stock options is presented below: | ||||||||||||||
Weighted Average | ||||||||||||||
Number of | Grant Date | |||||||||||||
Non-vested stock options | Options | Fair Value | ||||||||||||
$ | ||||||||||||||
Non-vested at May 31, 2014 | – | – | ||||||||||||
Granted | 550,000 | 0.47 | ||||||||||||
Vested | (350,000 | ) | 0.53 | |||||||||||
Non-vested at August 31, 2014 | 200,000 | 0.38 | ||||||||||||
As at August 31, 2014, there was $65,410 of unrecognized compensation cost related to non-vested stock option agreements. This cost is expected to be recognized over a weighted average period of 1.88 years. | ||||||||||||||
Additional information regarding stock options as of August 31, 2014 is as follows: | ||||||||||||||
Exercise | ||||||||||||||
Number of | price | |||||||||||||
options | $ | Expiry date | ||||||||||||
200,000 | 0.1 | 7-May-15 | ||||||||||||
300,000 | 0.2 | 1-Jul-15 | ||||||||||||
175,000 | 0.2 | 28-Apr-15 | ||||||||||||
200,000 | 0.3 | 17-Jul-16 | ||||||||||||
200,000 | 0.1 | 1-Aug-16 | ||||||||||||
1,075,000 | ||||||||||||||
The fair values for stock options granted have been estimated using the Black-Scholes option pricing model assuming no expected dividends and the following weighted average assumptions: | ||||||||||||||
August 31, | August 31, | |||||||||||||
2014 | 2013 | |||||||||||||
Risk-free Interest rate | 0.48% | 0.34% | ||||||||||||
Expected life (in years) | 2 | 2 | ||||||||||||
Expected volatility | 114% | 169% | ||||||||||||
During the three month period ended August 31, 2014, the Company recorded stock-based compensation of $193,091 (2013 - $38,200) for stock options granted. | ||||||||||||||
The weighted average fair value of the stock options granted for the three month period ended August 31, 2014, was $0.47 (2013 - $0.13) per option. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | ||||
Aug. 31, 2014 | |||||
Commitments and Contingencies [Text Block] | ' | ||||
13 | Commitments and Contingencies | ||||
(a) | On September 2, 2009, the Company entered into an agreement with a company to acquire a worldwide, exclusive license for the Mixed Reactant Flow-By Fuel Cell technology. The term of the agreement is for twenty years or the expiry of the last patent licensed under the agreement, whichever is later. The Company agreed to pay the licensor the following license fees: | ||||
• | an initial license fee of Cdn$10,000 payable in two installments: Cdn$5,000 upon execution of the agreement (paid) and Cdn$5,000 within thirty days of September 2, 2009 (paid); | ||||
• | a further license fee of Cdn$15,000 (paid) to be paid within ninety days of September 2, 2009; and | ||||
• | an annual license fee, payable annually on the anniversary of the date of the agreement as follows: | ||||
1-Sep-10 | $10,000 (paid) | ||||
1-Sep-11 | $20,000 (accrued) | ||||
1-Sep-12 | $30,000 (accrued) | ||||
1-Sep-13 | $40,000 (accrued) | ||||
September 1, 2014 and each | $50,000 | ||||
successive | |||||
anniversary | |||||
The Company is to pay the licensor a royalty calculated as 2% of the gross revenue and 15% of any and all consideration directly or indirectly received by the Company from the grant of any sublicense rights. The Company will pay interest at a rate of 1% per month on any amounts past due. In addition, the Company is responsible for the timely payment of all future costs relating to patent expenses and any new or useful art, process, machine, manufacture or composition of matter arising out of any licensor improvements or joint improvements licensed under this agreement and identified by the licensor as potentially patentable. The Company must also invest a minimum of Cdn$250,000 in research and development directly associated with the technology. | |||||
(b) | On May 23, 2012, a former employee of the Company delivered a Notice of Application seeking judgment against the Company for approximately $55,000. The hearing of that Application took place on July 31, 2012, at which time the former employee obtained judgment in the approximate amount of $55,000. The Company did not defend the amount of the judgment and the amount is included in accounts payable, but claims a complete set-off on the basis that the former employee retains 1,000,000 shares of common stock of the Company as security for payment of the outstanding consulting fees owed to him. On August 31, 2012, the Company commenced a separate action against the former employee seeking a return of the 1,000,000 shares of common stock and a stay of execution of the judgment. That application is pending and has not yet been heard or determined by the court. The payment of the judgment claim of approximately $55,000 is dependent upon whether the former employee will first return the 1,000,000 shares of common stock noted above. The probable outcome of the Company’s claim for the return of the shares cannot yet be determined. | ||||
(c) | On October 10 and October 17, 2013, the Company’s subsidiary entered into two employment agreements. Pursuant to the agreements, the two employees will perform services for a term of one year for base remuneration of $65,000 per annum with an increase to $70,000 per annum. The agreements are subject to receipt of an Industrial Research & Development Fellowship from the Natural Sciences and Engineering Research Council of Canada (“NSERC”) grant (received on August 1, 2014). In addition, the Company granted to each employee 100,000 stock options exercisable at a price of $0.10 per share. These options are non-transferrable, vest immediately, and expire upon the earlier of 24 months, or upon termination of the employment agreements. | ||||
(d) | On March 1, 2014, the Company entered into an agreement with a consultant who will perform services for $7,250 a month for a period of one year. In addition, the Company issued 25,000 shares of common stock upon the execution of the agreement and must issue an additional 20,000 shares of common stock per month for the following 11 months. Refer to Note 10(e) and 10(i). | ||||
(e) | On March 1, 2014, the Company entered into an agreement with a consultant who will perform public relations services for €$3,500 a month for a period of one year. In addition, the Company issued 500,000 shares of common stock upon execution of the agreement. | ||||
(f) | On March 25, 2014, the Company entered into an agreement with a research and development firm who will design, engineer, and build an ERC Energy Demonstration unit for an estimated Cdn$360,000 over a period of approximately 24 weeks. The Company paid the initial deposit of Cdn$190,000, which will be applied to the last two invoices of the project. | ||||
(g) | On May 7, 2014, the Company entered into a two year office space lease commencing July 1, 2014. Pursuant to the lease, the Company is required to pay Cdn$2,683 plus taxes per month. In addition, on June 1, 2014, the Company entered into a two year office space lease commencing June 1, 2014. Pursuant to the lease, the Company is required to pay Cdn$1,240 plus taxes per month. The following is a schedule by years of future minimum lease payments under capital leases together with the present value of the minimum lease payments as of August31, 2014: | ||||
Period ending August 31: | $ | ||||
2015 | 43,252 | ||||
2016 | 34,904 | ||||
78,156 |
Subsequent_Events
Subsequent Events | 3 Months Ended | ||
Aug. 31, 2014 | |||
Subsequent Events [Text Block] | ' | ||
14 | Subsequent Events | ||
(a) | On September 9, 2014, the Company entered into a consulting agreement with a two month term with a consultant. Pursuant to the agreement, the Company will pay $5,000 cash and issue 12,500 shares of common stock each month. The Company issued 25,000 common shares on October 10, 2014. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policies) | 3 Months Ended | ||
Aug. 31, 2014 | |||
Principles of Consolidation [Policy Text Block] | ' | ||
(a) | Principles of Consolidation | ||
These unaudited consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States. These unaudited consolidated financial statements include the accounts of the Company and its subsidiaries, Carbon Commodity Corporation, Climate ESCO Ltd., Mantra Energy Alternatives Ltd., Mantra China Inc., Mantra China Limited, Mantra Media Corp., Mantra NextGen Power Inc., and Mantra Wind Inc. All the subsidiaries are wholly-owned with the exception of Climate ESCO Ltd., which is 64.84%owned and Mantra Energy Alternatives Ltd., which is 89.09% owned. All inter- company balances and transactions have been eliminated. | |||
Recent Accounting Pronouncements [Policy Text Block] | ' | ||
(b) | Recent Accounting Pronouncements | ||
The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 3 Months Ended | |||||||||||||
Aug. 31, 2014 | ||||||||||||||
Schedule of Property, Plant and Equipment [Table Text Block] | ' | |||||||||||||
August 31, | May 31, | |||||||||||||
2014 | 2014 | |||||||||||||
Accumulated | Net carrying | Net carrying | ||||||||||||
Cost | depreciation | value | value | |||||||||||
$ | $ | $ | $ | |||||||||||
Furniture and equipment | 2,496 | 83 | 2,413 | – | ||||||||||
Computer | 5,341 | 3,270 | 2,071 | 2,821 | ||||||||||
Research equipment | 111,802 | 60,787 | 51,015 | 51,030 | ||||||||||
Vehicles under capital lease | 68,340 | 33,657 | 34,683 | 40,380 | ||||||||||
187,979 | 97,797 | 90,182 | 94,231 |
Intangible_Assets_Tables
Intangible Assets (Tables) | 3 Months Ended | |||||||||||||
Aug. 31, 2014 | ||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||||||
August 31, | May 31, | |||||||||||||
2014 | 2014 | |||||||||||||
Accumulated | Net carrying | Net carrying | ||||||||||||
Cost | depreciation | value | value | |||||||||||
$ | $ | $ | $ | |||||||||||
Patents | 52,748 | 1,391 | 51,357 | 29,547 | ||||||||||
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | ' | |||||||||||||
$ | ||||||||||||||
For year ended May 31, 2015 | 2,118 | |||||||||||||
For year ended May 31, 2016 | 2,824 | |||||||||||||
For year ended May 31, 2017 | 2,824 | |||||||||||||
For year ended May 31, 2018 | 2,824 | |||||||||||||
For year ended May 31, 2019 | 2,824 |
Obligations_Under_Capital_Leas1
Obligations Under Capital Lease (Tables) | 3 Months Ended | ||||
Aug. 31, 2014 | |||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||
Year ending May 31: | $ | ||||
2015 | 8,692 | ||||
2016 | 20,853 | ||||
Net minimum lease payments | 29,545 | ||||
Less: amount representing interest payments | (3,441 | ) | |||
Present value of net minimum lease payments | 26,104 | ||||
Less: current portion | (16,383 | ) | |||
Long-term portion | 9,721 |
Share_Purchase_Warrants_Tables
Share Purchase Warrants (Tables) | 3 Months Ended | |||||||
Aug. 31, 2014 | ||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | ' | |||||||
Weighted average | ||||||||
Number of | exercise price | |||||||
warrants | $ | |||||||
(a) | (b) | |||||||
Balance, May 31, 2014 | 9,818,402 | 0.29 | ||||||
Issued | 533,333 | 0.8 | ||||||
Exercised | (240,000 | ) | 0.26 | |||||
Expired | (5,503,402 | ) | 0.23 | |||||
Balance, August 31, 2014 | 4,608,337 | 0.4 | ||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | |||||||
Exercise | ||||||||
Number of | price | |||||||
warrants | $ | Expiry date | ||||||
4,075,000 | 0.37 | 10-Apr-19 | ||||||
333,333 | 0.8 | 4-Jun-17 | ||||||
200,000 | 0.8 | 11-Jul-17 | ||||||
4,608,337 |
Stock_Options_Tables
Stock Options (Tables) | 3 Months Ended | |||||||||||||
Aug. 31, 2014 | ||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||
Weighted | Weighted average | Aggregate | ||||||||||||
average | remaining | intrinsic | ||||||||||||
Number | exercise price | contractual life | value | |||||||||||
of options | $ | (years) | $ | |||||||||||
Outstanding, May 31, 2014 | 675,000 | 0.17 | ||||||||||||
Granted | 550,000 | 0.15 | ||||||||||||
Exercised | (150,000 | ) | 0.02 | |||||||||||
Outstanding, August 31, 2014 | 1,075,000 | 0.18 | 1.34 | 396,250 | ||||||||||
Exercisable, August 31, 2014 | 875,000 | 0.15 | 1.21 | 346,250 | ||||||||||
Schedule of Nonvested Share Activity [Table Text Block] | ' | |||||||||||||
Weighted Average | ||||||||||||||
Number of | Grant Date | |||||||||||||
Non-vested stock options | Options | Fair Value | ||||||||||||
$ | ||||||||||||||
Non-vested at May 31, 2014 | – | – | ||||||||||||
Granted | 550,000 | 0.47 | ||||||||||||
Vested | (350,000 | ) | 0.53 | |||||||||||
Non-vested at August 31, 2014 | 200,000 | 0.38 | ||||||||||||
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | |||||||||||||
Exercise | ||||||||||||||
Number of | price | |||||||||||||
options | $ | Expiry date | ||||||||||||
200,000 | 0.1 | 7-May-15 | ||||||||||||
300,000 | 0.2 | 1-Jul-15 | ||||||||||||
175,000 | 0.2 | 28-Apr-15 | ||||||||||||
200,000 | 0.3 | 17-Jul-16 | ||||||||||||
200,000 | 0.1 | 1-Aug-16 | ||||||||||||
1,075,000 | ||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||
August 31, | August 31, | |||||||||||||
2014 | 2013 | |||||||||||||
Risk-free Interest rate | 0.48% | 0.34% | ||||||||||||
Expected life (in years) | 2 | 2 | ||||||||||||
Expected volatility | 114% | 169% |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | ||||
Aug. 31, 2014 | |||||
Long-term Purchase Commitment [Table Text Block] | ' | ||||
1-Sep-10 | $10,000 (paid) | ||||
1-Sep-11 | $20,000 (accrued) | ||||
1-Sep-12 | $30,000 (accrued) | ||||
1-Sep-13 | $40,000 (accrued) | ||||
September 1, 2014 and each | $50,000 | ||||
successive | |||||
anniversary | |||||
Schedule of Future Minimum Lease Payments under Capital Leases [Table Text Block] | ' | ||||
Period ending August 31: | $ | ||||
2015 | 43,252 | ||||
2016 | 34,904 | ||||
78,156 |
Basis_of_Presentation_Narrativ
Basis of Presentation (Narrative) (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Basis Of Presentation 1 | $9,966,654 |
Significant_Accounting_Policie1
Significant Accounting Policies (Narrative) (Details) | 3 Months Ended |
Aug. 31, 2014 | |
Significant Accounting Policies 1 | 64.84% |
Significant Accounting Policies 2 | 89.09% |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Related Party Transactions 1 | $44,628 |
Related Party Transactions 2 | 28,912 |
Related Party Transactions 3 | 0 |
Related Party Transactions 4 | 4,500 |
Related Party Transactions 5 | 14,830 |
Related Party Transactions 6 | 14,456 |
Related Party Transactions 7 | 15,080 |
Related Party Transactions 8 | 14,456 |
Related Party Transactions 9 | 87,074 |
Related Party Transactions 10 | 124,857 |
Related Party Transactions 11 | 24,860 |
Related Party Transactions 12 | 13,619 |
Related Party Transactions 13 | 21,485 |
Related Party Transactions 14 | $21,518 |
Loans_Payable_Narrative_Detail
Loans Payable (Narrative) (Details) | 3 Months Ended | |
Aug. 31, 2014 | Aug. 31, 2014 | |
USD ($) | CAD | |
Loans Payable 1 | $58,160 | ' |
Loans Payable 2 | ' | 63,300 |
Loans Payable 3 | 58,251 | ' |
Loans Payable 4 | ' | 63,300 |
Loans Payable 5 | 17,500 | ' |
Loans Payable 6 | 17,500 | ' |
Loans Payable 7 | 15,000 | ' |
Loans Payable 8 | 15,000 | ' |
Loans Payable 9 | 17,361 | ' |
Loans Payable 10 | ' | 18,895 |
Loans Payable 11 | 17,387 | ' |
Loans Payable 12 | ' | 18,895 |
Loans Payable 13 | 7,500 | ' |
Loans Payable 14 | 33,996 | ' |
Loans Payable 15 | ' | 37,000 |
Loans Payable 16 | 7,500 | ' |
Loans Payable 17 | 34,048 | ' |
Loans Payable 18 | ' | 37,000 |
Loans Payable 19 | 4,490 | ' |
Loans Payable 20 | 4,490 | ' |
Loans Payable 21 | $50,000 | ' |
Loans Payable 22 | 10,000,000 | 10,000,000 |
Obligations_Under_Capital_Leas2
Obligations Under Capital Lease (Narrative) (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Obligations Under Capital Lease 1 | $9,000 |
Convertible_Debentures_Narrati
Convertible Debentures (Narrative) (Details) | 3 Months Ended | |
Aug. 31, 2014 | Aug. 31, 2014 | |
USD ($) | CAD | |
M | ||
Convertible Debentures 1 | $250,000 | ' |
Convertible Debentures 2 | 10.00% | 10.00% |
Convertible Debentures 3 | 625,000 | 625,000 |
Convertible Debentures 4 | $0.40 | ' |
Convertible Debentures 5 | 250,000 | 250,000 |
Convertible Debentures 6 | $0.50 | ' |
Convertible Debentures 7 | 45,930 | ' |
Convertible Debentures 8 | 45,930 | ' |
Convertible Debentures 9 | 250,000 | ' |
Convertible Debentures 10 | 50,000 | ' |
Convertible Debentures 11 | 122,535 | ' |
Convertible Debentures 12 | ' | 100,000 |
Convertible Debentures 13 | 2,500 | 2,500 |
Convertible Debentures 14 | 40 | 40 |
Convertible Debentures 15 | 150,000 | ' |
Convertible Debentures 16 | 43,890 | ' |
Convertible Debentures 17 | 10,000 | ' |
Convertible Debentures 18 | 150,000 | ' |
Convertible Debentures 19 | 6,836 | ' |
Convertible Debentures 20 | 100,000 | 100,000 |
Convertible Debentures 21 | $0.12 | ' |
Convertible Debentures 22 | 4,438 | ' |
Convertible Debentures 23 | 10,000 | ' |
Convertible Debentures 24 | 10.00% | 10.00% |
Convertible Debentures 25 | 12,901 | ' |
Convertible Debentures 26 | 40,000 | ' |
Convertible Debentures 27 | 12,901 | ' |
Convertible Debentures 28 | 114,661 | ' |
Convertible Debentures 29 | 27,339 | ' |
Convertible Debentures 30 | 87,322 | ' |
Convertible Debentures 31 | 10,000 | ' |
Convertible Debentures 32 | 10.00% | 10.00% |
Convertible Debentures 33 | $0.04 | ' |
Convertible Debentures 34 | 10,000 | ' |
Convertible Debentures 35 | 0 | ' |
Convertible Debentures 36 | 10,000 | ' |
Convertible Debentures 37 | 3,295 | ' |
Convertible Debentures 38 | 58,000 | ' |
Convertible Debentures 39 | 10.00% | 10.00% |
Convertible Debentures 40 | $0.04 | ' |
Convertible Debentures 41 | 58,000 | ' |
Convertible Debentures 42 | 0 | ' |
Convertible Debentures 43 | 58,000 | ' |
Convertible Debentures 44 | 7,204 | ' |
Convertible Debentures 45 | 94,000 | ' |
Convertible Debentures 46 | 10.00% | 10.00% |
Convertible Debentures 47 | $0.04 | ' |
Convertible Debentures 48 | 94,000 | ' |
Convertible Debentures 49 | 0 | ' |
Convertible Debentures 50 | 94,000 | ' |
Convertible Debentures 51 | 7,235 | ' |
Convertible Debentures 52 | 15,000 | ' |
Convertible Debentures 53 | 10.00% | 10.00% |
Convertible Debentures 54 | $0.04 | ' |
Convertible Debentures 55 | 15,000 | ' |
Convertible Debentures 56 | 0 | ' |
Convertible Debentures 57 | 15,000 | ' |
Convertible Debentures 58 | 5,182 | ' |
Convertible Debentures 59 | 15,000 | ' |
Convertible Debentures 60 | 10.00% | 10.00% |
Convertible Debentures 61 | $0.04 | ' |
Convertible Debentures 62 | 15,000 | ' |
Convertible Debentures 63 | 0 | ' |
Convertible Debentures 64 | 15,000 | ' |
Convertible Debentures 65 | $2,171 | ' |
Common_Stock_Narrative_Details
Common Stock (Narrative) (Details) | 3 Months Ended | |
Aug. 31, 2014 | Aug. 31, 2014 | |
USD ($) | CAD | |
Common Stock 1 | $2,080 | ' |
Common Stock 2 | $0.08 | ' |
Common Stock 3 | 26,000 | 26,000 |
Common Stock 4 | 0.2 | ' |
Common Stock 5 | $0.40 | ' |
Common Stock 6 | 32,625 | ' |
Common Stock 7 | 140,500 | 140,500 |
Common Stock 8 | 67,000 | 67,000 |
Common Stock 9 | ' | 1 |
Common Stock 10 | 66,277 | ' |
Common Stock 11 | ' | 67,000 |
Common Stock 12 | 7,231 | ' |
Common Stock 13 | 210,000 | 210,000 |
Common Stock 14 | $0.10 | ' |
Common Stock 15 | 21,000 | ' |
Common Stock 16 | 7,384 | ' |
Common Stock 17 | 10,000 | ' |
Common Stock 18 | 20,000 | 20,000 |
Common Stock 19 | 333,333 | 333,333 |
Common Stock 20 | $0.30 | ' |
Common Stock 21 | 100,000 | ' |
Common Stock 22 | 0.8 | ' |
Common Stock 23 | $1.60 | ' |
Common Stock 24 | 100,000 | ' |
Common Stock 25 | 240,000 | 240,000 |
Common Stock 26 | 61,625 | ' |
Common Stock 27 | 32,625 | ' |
Common Stock 28 | 500,000 | 500,000 |
Common Stock 29 | 270,000 | ' |
Common Stock 30 | 500,000 | 500,000 |
Common Stock 31 | 270,000 | ' |
Common Stock 32 | 5 | ' |
Common Stock 33 | 269,995 | ' |
Common Stock 34 | 200,000 | 200,000 |
Common Stock 35 | $0.30 | ' |
Common Stock 36 | 60,000 | ' |
Common Stock 37 | 0.8 | ' |
Common Stock 38 | $1.60 | ' |
Common Stock 39 | 40,000 | 40,000 |
Common Stock 40 | 20,000 | ' |
Common Stock 41 | 60,037 | 60,037 |
Common Stock 42 | 5,000 | ' |
Common Stock 43 | 4,019 | ' |
Common Stock 44 | 12,000 | 12,000 |
Common Stock 45 | 5,880 | ' |
Common Stock 46 | 150,000 | 150,000 |
Common Stock 47 | $0.02 | ' |
Common Stock 48 | $3,000 | ' |
Stock_Options_Narrative_Detail
Stock Options (Narrative) (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Y | |
Stock Options 1 | 150,000 |
Stock Options 2 | $0.02 |
Stock Options 3 | $94,600 |
Stock Options 4 | 200,000 |
Stock Options 5 | $0.30 |
Stock Options 6 | 25.00% |
Stock Options 7 | 9,590 |
Stock Options 8 | 100,000 |
Stock Options 9 | $0.10 |
Stock Options 10 | 88,900 |
Stock Options 11 | 65,410 |
Stock Options 12 | 1.88 |
Stock Options 13 | 193,091 |
Stock Options 14 | 38,200 |
Stock Options 15 | $0.47 |
Stock Options 16 | $0.13 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) | 3 Months Ended | |
Aug. 31, 2014 | Aug. 31, 2014 | |
USD ($) | CAD | |
M | ||
Commitments And Contingencies 1 | ' | 10,000 |
Commitments And Contingencies 2 | ' | 5,000 |
Commitments And Contingencies 3 | ' | 5,000 |
Commitments And Contingencies 4 | ' | 15,000 |
Commitments And Contingencies 5 | 2.00% | 2.00% |
Commitments And Contingencies 6 | 15.00% | 15.00% |
Commitments And Contingencies 7 | 1.00% | 1.00% |
Commitments And Contingencies 8 | ' | 250,000 |
Commitments And Contingencies 9 | 55,000 | ' |
Commitments And Contingencies 10 | 55,000 | ' |
Commitments And Contingencies 11 | 1,000,000 | 1,000,000 |
Commitments And Contingencies 12 | 1,000,000 | 1,000,000 |
Commitments And Contingencies 13 | 55,000 | ' |
Commitments And Contingencies 14 | 1,000,000 | 1,000,000 |
Commitments And Contingencies 15 | 65,000 | ' |
Commitments And Contingencies 16 | 70,000 | ' |
Commitments And Contingencies 17 | 100,000 | 100,000 |
Commitments And Contingencies 18 | $0.10 | ' |
Commitments And Contingencies 19 | 24 | 24 |
Commitments And Contingencies 20 | 7,250 | ' |
Commitments And Contingencies 21 | 25,000 | 25,000 |
Commitments And Contingencies 22 | 20,000 | 20,000 |
Commitments And Contingencies 23 | 11 | 11 |
Commitments And Contingencies 24 | 3,500 | ' |
Commitments And Contingencies 25 | 500,000 | 500,000 |
Commitments And Contingencies 26 | ' | 360,000 |
Commitments And Contingencies 27 | 24 | 24 |
Commitments And Contingencies 28 | ' | 190,000 |
Commitments And Contingencies 29 | ' | 2,683 |
Commitments And Contingencies 30 | ' | 1,240 |
Subsequent_Events_Narrative_De
Subsequent Events (Narrative) (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Subsequent Events 1 | $5,000 |
Subsequent Events 2 | 12,500 |
Subsequent Events 3 | 25,000 |
Schedule_of_Property_Plant_and
Schedule of Property, Plant and Equipment (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Property And Equipment Schedule Of Property, Plant And Equipment 1 | $2,496 |
Property And Equipment Schedule Of Property, Plant And Equipment 2 | 83 |
Property And Equipment Schedule Of Property, Plant And Equipment 3 | 2,413 |
Property And Equipment Schedule Of Property, Plant And Equipment 4 | 0 |
Property And Equipment Schedule Of Property, Plant And Equipment 5 | 5,341 |
Property And Equipment Schedule Of Property, Plant And Equipment 6 | 3,270 |
Property And Equipment Schedule Of Property, Plant And Equipment 7 | 2,071 |
Property And Equipment Schedule Of Property, Plant And Equipment 8 | 2,821 |
Property And Equipment Schedule Of Property, Plant And Equipment 9 | 111,802 |
Property And Equipment Schedule Of Property, Plant And Equipment 10 | 60,787 |
Property And Equipment Schedule Of Property, Plant And Equipment 11 | 51,015 |
Property And Equipment Schedule Of Property, Plant And Equipment 12 | 51,030 |
Property And Equipment Schedule Of Property, Plant And Equipment 13 | 68,340 |
Property And Equipment Schedule Of Property, Plant And Equipment 14 | 33,657 |
Property And Equipment Schedule Of Property, Plant And Equipment 15 | 34,683 |
Property And Equipment Schedule Of Property, Plant And Equipment 16 | 40,380 |
Property And Equipment Schedule Of Property, Plant And Equipment 17 | 187,979 |
Property And Equipment Schedule Of Property, Plant And Equipment 18 | 97,797 |
Property And Equipment Schedule Of Property, Plant And Equipment 19 | 90,182 |
Property And Equipment Schedule Of Property, Plant And Equipment 20 | $94,231 |
Schedule_of_FiniteLived_Intang
Schedule of Finite-Lived Intangible Assets (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Intangible Assets Schedule Of Finite-lived Intangible Assets 1 | $52,748 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 2 | 1,391 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 3 | 51,357 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 4 | $29,547 |
Finitelived_Intangible_Assets_
Finite-lived Intangible Assets Amortization Expense (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 1 | $2,118 |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 2 | 2,824 |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 3 | 2,824 |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 4 | 2,824 |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 5 | $2,824 |
Schedule_of_Future_Minimum_Lea
Schedule of Future Minimum Lease Payments for Capital Leases (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 1 | $8,692 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 2 | 20,853 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 3 | 29,545 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 4 | -3,441 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 5 | 26,104 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 6 | -16,383 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 7 | $9,721 |
Schedule_of_Stockholders_Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | $9,818,402 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | 0.29 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | 533,333 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | 0.8 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | -240,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | 0.26 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 7 | -5,503,402 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 8 | 0.23 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 9 | $4,608,337 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 10 | 0.4 |
Schedule_of_Stockholders_Equit1
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 1 | $4,075,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 2 | 0.37 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 3 | 333,333 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 4 | 0.8 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 5 | 200,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 6 | 0.8 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 7 | $4,608,337 |
Schedule_of_Sharebased_Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 1 | $675,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 2 | 0.17 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 3 | 550,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 4 | 0.15 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 5 | -150,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 6 | 0.02 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 7 | 1,075,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 8 | 0.18 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 9 | 1.34 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 10 | 396,250 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 11 | 875,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 12 | 0.15 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 13 | 1.21 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 14 | $346,250 |
Schedule_of_Nonvested_Share_Ac
Schedule of Nonvested Share Activity (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Stock Options Schedule Of Nonvested Share Activity 1 | $0 |
Stock Options Schedule Of Nonvested Share Activity 2 | 0 |
Stock Options Schedule Of Nonvested Share Activity 3 | 550,000 |
Stock Options Schedule Of Nonvested Share Activity 4 | 0.47 |
Stock Options Schedule Of Nonvested Share Activity 5 | -350,000 |
Stock Options Schedule Of Nonvested Share Activity 6 | 0.53 |
Stock Options Schedule Of Nonvested Share Activity 7 | $200,000 |
Stock Options Schedule Of Nonvested Share Activity 8 | 0.38 |
Schedule_of_Disclosure_of_Shar
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $200,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | 0.1 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | 300,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 0.2 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | 175,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 0.2 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 7 | 200,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 8 | 0.3 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 9 | 200,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 10 | 0.1 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | $1,075,000 |
Schedule_of_Sharebased_Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 3 Months Ended |
Aug. 31, 2014 | |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 0.48% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 0.34% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 2 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 2 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 114.00% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 169.00% |
Longterm_Purchase_Commitment_D
Long-term Purchase Commitment (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Commitments And Contingencies Long-term Purchase Commitment 1 | $10,000 |
Commitments And Contingencies Long-term Purchase Commitment 2 | 20,000 |
Commitments And Contingencies Long-term Purchase Commitment 3 | 30,000 |
Commitments And Contingencies Long-term Purchase Commitment 4 | 40,000 |
Commitments And Contingencies Long-term Purchase Commitment 5 | $50,000 |
Schedule_of_Future_Minimum_Lea1
Schedule of Future Minimum Lease Payments under Capital Leases (Details) (USD $) | 3 Months Ended |
Aug. 31, 2014 | |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 1 | $43,252 |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 2 | 34,904 |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 3 | $78,156 |