Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
May. 31, 2015 | Sep. 16, 2015 | Nov. 30, 2014 | |
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | May 31, 2015 | ||
Trading Symbol | mvtg | ||
Entity Registrant Name | Mantra Venture Group Ltd. | ||
Entity Central Index Key | 1,413,891 | ||
Current Fiscal Year End Date | --05-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 72,383,203 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Public Float | $ 14,416,955 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Consolidated balance sheets
Consolidated balance sheets - USD ($) | May. 31, 2015 | May. 31, 2014 |
Current assets | ||
Cash | $ 7,446 | $ 931,886 |
Accounts receivable | 25,527 | 163,591 |
Deferred finance costs | 7,085 | 0 |
Prepaid expenses and deposits | 126,146 | 504,697 |
Total current assets | 166,204 | 1,600,174 |
Deposit | 8,000 | 0 |
Restricted cash | 20,734 | 27,374 |
Property and equipment, net | 90,205 | 94,231 |
Intangible assets, net | 54,577 | 29,547 |
Total assets | 339,720 | 1,751,326 |
Current liabilities | ||
Accounts payable and accrued liabilities | 613,875 | 715,053 |
Due to related parties | 112,193 | 159,994 |
Loans payable | 190,106 | 204,176 |
Obligations under capital lease | 17,325 | 8,246 |
Convertible debentures (net of discount of $189,520) | 237,333 | 164,660 |
Derivative liability | 353,668 | 0 |
Total current liabilities | 1,524,500 | 1,252,129 |
Obligations under capital lease | 0 | 19,856 |
Convertible debentures (net of discount of $nil) | 0 | 16,640 |
Total liabilities | 1,524,500 | 1,288,625 |
Mantra Venture Group Ltd. stockholders' equity (deficit) | ||
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: 71,516,581 (May 31, 2014 - 69,157,322) shares | 715 | 692 |
Additional paid-in capital | 10,462,265 | 9,679,880 |
Subscriptions receivable | 0 | (1,791) |
Common stock subscribed | 74,742 | 216,391 |
Accumulated deficit | (11,529,916) | (9,314,295) |
Total Mantra Venture Group Ltd. stockholders' equity (deficit) | (992,194) | 580,877 |
Non-controlling interest | (192,586) | (118,176) |
Total stockholders' equity (deficit) | (1,184,780) | 462,701 |
Total liabilities and stockholders' equity (deficit) | $ 339,720 | $ 1,751,326 |
Consolidated balance sheets (Pa
Consolidated balance sheets (Parenthetical) - USD ($) | May. 31, 2015 | May. 31, 2014 |
Discount | $ 189,520 | $ 0 |
Discount | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.00001 | $ 0.00001 |
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 | $ 0.00001 | $ 0.00001 |
Common Stock, Shares, Issued | 71,516,581 | 69,157,322 |
Common Stock, Shares, Outstanding | 71,516,581 | 69,157,322 |
Consolidated statements of oper
Consolidated statements of operations - USD ($) | 12 Months Ended | |
May. 31, 2015 | May. 31, 2014 | |
Revenue | $ 198,908 | $ 274,584 |
Cost of goods sold | 0 | 0 |
Gross profit | 198,908 | 274,584 |
Operating expenses | ||
Business development | 23,683 | 40,300 |
Consulting and advisory | 442,408 | 342,307 |
Depreciation and amortization | 40,769 | 25,772 |
Foreign exchange loss (gain) | (46,123) | (88,728) |
General and administrative | 137,494 | 132,673 |
License fees | 45,941 | 40,000 |
Management fees | 280,950 | 184,463 |
Professional fees | 133,836 | 168,354 |
Public listing costs | 39,651 | 24,405 |
Rent | 64,196 | 57,853 |
Research and development | 698,567 | 396,278 |
Shareholder communications and awareness | 26,931 | 7,382 |
Travel and promotion | 178,442 | 199,327 |
Wages and benefits | 43,268 | 37,736 |
Total operating expenses | 2,110,013 | 1,568,122 |
Loss before other income (expense) | (1,911,105) | (1,293,538) |
Other income (expense) | ||
Accretion of discounts on convertible debentures | (110,842) | (26,557) |
Gain on settlement of debt | 1,759 | 11,503 |
Loss on change in fair value of derivatives | (228,668) | 0 |
Interest expense | (41,175) | (44,168) |
Total other income (expense) | (378,926) | (59,222) |
Net loss for the period | (2,290,031) | (1,352,760) |
Less: net loss attributable to the non-controlling interest | 74,410 | 62,104 |
Net loss attributable to Mantra Venture Group Ltd. | $ (2,215,621) | $ (1,290,656) |
Net loss per share attributable to Mantra Venture Group Ltd. common shareholders, basic and diluted | $ (0.03) | $ (0.02) |
Weighted average number of shares outstanding used in the calculation of net loss attributable to Mantra Venture Group Ltd. per common share | 70,847,805 | 59,096,396 |
Consolidated statements of stoc
Consolidated statements of stockholders equity (deficit) - USD ($) | Common Stock [Member] | Additional paid-in capital [Member] | Common stock subscribed [Member] | Common stock subscriptions receivable [Member] | Accumulated Deficit [Member] | Non-controlling interest [Member] | Total |
Beginning Balance at May. 31, 2013 | $ 552 | $ 6,875,939 | $ 115,662 | $ (8,023,639) | $ (56,072) | $ (1,087,558) | |
Beginning Balance (Shares) at May. 31, 2013 | 55,226,276 | ||||||
Stock issued at $0.15 per share pursuant to the exercise of warrants | $ 11 | 163,939 | 163,950 | ||||
Stock issued at $0.15 per share pursuant to the exercise of warrants (Shares) | 1,093,000 | ||||||
Stock issued at $0.20 per share pursuant to the exercise of warrants | $ 31 | 618,961 | 618,992 | ||||
Stock issued at $0.20 per share pursuant to the exercise of warrants (Shares) | 3,094,958 | ||||||
Stock issued at $0.12 per share pursuant to the exercise of stock options | $ 1 | 11,999 | 12,000 | ||||
Stock issued at $0.12 per share pursuant to the exercise of stock options (Shares) | 100,000 | ||||||
Units issued at $0.08 per share | $ 37 | 294,207 | (43,000) | $ (1,791) | 249,453 | ||
Units issued at $0.08 per share (Shares) | 3,678,088 | ||||||
Units issued at $0.10 per share | $ 4 | 39,996 | 40,000 | ||||
Units issued at $0.10 per share (Shares) | 400,000 | ||||||
Units issued at $0.12 per share | $ 1 | 16,799 | 16,800 | ||||
Units issued at $0.12 per share (Shares) | 140,000 | ||||||
Units issued at $0.17 per share | $ 1 | 16,999 | 17,000 | ||||
Units issued at $0.17 per share (Shares) | 100,000 | ||||||
Units issued at $0.20 per share | $ 48 | 951,952 | 952,000 | ||||
Units issued at $0.20 per share (Shares) | 4,760,000 | ||||||
Shares issued for services | $ 6 | 394,089 | 5 | 394,100 | |||
Shares issued for services (Shares) | 565,000 | ||||||
Subscriptions received | 134,705 | 134,705 | |||||
Shares issuable for conversion of debt | 9,019 | 9,019 | |||||
Beneficial conversion features | 192,000 | 192,000 | |||||
Fair value of stock options granted | 103,000 | 103,000 | |||||
Net loss for the year | (1,290,656) | (62,104) | (1,352,760) | ||||
Ending Balance at May. 31, 2014 | $ 692 | 9,679,880 | 216,391 | (1,791) | (9,314,295) | (118,176) | 462,701 |
Ending Balance (Shares) at May. 31, 2014 | 69,157,322 | ||||||
Stock issued at $0.25 per share pursuant to the exercise of warrants | $ 2 | 61,623 | (32,625) | (19,000) | 10,000 | ||
Stock issued at $0.25 per share pursuant to the exercise of warrants (Shares) | 240,000 | ||||||
Stock issued at $0.25 per share pursuant to the exercise of options | $ 1 | 2,999 | (3,000) | ||||
Stock issued at $0.25 per share pursuant to the exercise of options (Shares) | 150,000 | ||||||
Units issued at $0.30 per share | $ 5 | 159,995 | (100,000) | 60,000 | |||
Units issued at $0.30 per share (Shares) | 533,333 | ||||||
Units issued at $0.20 per share | $ 5 | 99,995 | 100,000 | ||||
Units issued at $0.20 per share (Shares) | 500,000 | ||||||
Units issued at $0.40 per share | $ 2 | 59,998 | 60,000 | ||||
Units issued at $0.40 per share (Shares) | 150,000 | ||||||
Stock issued at $0.18 per share | $ 1 | 24,999 | 25,000 | ||||
Stock issued at $0.18 per share (Shares) | 138,889 | ||||||
Shares issued for services | $ 6 | 41,753 | (5) | 41,754 | |||
Shares issued for services (Shares) | 587,000 | ||||||
Subscriptions received | $ 23,791 | 23,791 | |||||
Shares issuable for conversion of debt | $ 1 | 9,018 | (9,019) | ||||
Shares issuable for conversion of debt (Shares) | 60,037 | ||||||
Fair value of stock options granted | 322,005 | 322,005 | |||||
Net loss for the year | (2,215,621) | (74,410) | (2,290,031) | ||||
Ending Balance at May. 31, 2015 | $ 715 | $ 10,462,265 | $ 74,742 | $ (11,529,916) | $ (192,586) | $ (1,184,780) | |
Ending Balance (Shares) at May. 31, 2015 | 71,516,581 |
Consolidated statements of cash
Consolidated statements of cash flows - USD ($) | 12 Months Ended | |
May. 31, 2015 | May. 31, 2014 | |
Operating activities | ||
Net loss | $ (2,290,031) | $ (1,352,760) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Loss in fair value of derivative liability | 193,424 | 0 |
Amortization of finance costs | 2,415 | 0 |
Accretion of discounts on convertible debentures | 110,842 | 26,557 |
Depreciation and amortization | 40,769 | 25,772 |
Foreign exchange loss (gain) | (8,062) | (7,424) |
Gain on settlement of debt | (1,759) | (11,503) |
Initial derivative expenses | 35,244 | 0 |
Shares issued for services | 41,754 | 94,703 |
Stock-based compensation on options and warrants | 322,005 | 103,000 |
Changes in operating assets and liabilities: | ||
Amounts receivable | 138,064 | (143,676) |
Prepaid expenses and deposits | 370,551 | (170,772) |
Accounts payable and accrued liabilities | (99,421) | 147,298 |
Due to related parties | (47,801) | (13,430) |
Net cash used in operating activities | (1,192,006) | (1,302,235) |
Investing activities | ||
Purchase of property and equipment | (28,295) | (48,475) |
Investment in intangible assets | (33,478) | (30,333) |
Net cash used in investing activities | (61,773) | (78,808) |
Financing activities | ||
Repayment of capital lease obligations | (10,145) | (7,542) |
Repayment of loan payable | (54,807) | (101,809) |
Proceeds from issuance of convertible debentures | 125,000 | 192,000 |
Proceeds from stock subscribed | 23,791 | 0 |
Finance costs | (9,500) | 0 |
Proceeds from the issuance of options and warrants | 10,000 | 0 |
Proceeds from issuance of common stock and subscriptions received | 245,000 | 2,204,893 |
Net cash provided by financing activities | 329,339 | 2,287,542 |
Change in cash | (924,440) | 906,499 |
Cash, beginning of period | 931,886 | 25,387 |
Cash, end of period | 7,446 | 931,886 |
Non-cash investing and financing activities: | ||
Common stock issued to relieve common stock subscribed | 1,000,000 | 43,000 |
Common stock issued to settle debt | 9,019 | 0 |
Loan payable settled through shares issuable | 0 | 9,019 |
Common stock issued for pre-paid asset | 0 | 360,000 |
Debt discount on beneficial conversion feature | 0 | 192,000 |
Original debt discount against derivative liability | 125,000 | 0 |
Common stock issued on exercise of options | 3,001 | 0 |
Warrants exercised for common stock and subscriptions receivable | 51,625 | 0 |
Common stock issued for common stock receivable | 2,998 | 0 |
Supplemental disclosures: | ||
Interest paid | 8,668 | 9,098 |
Income taxes paid | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
May. 31, 2015 | |
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. These consolidated 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 May 31, 2015, the Company has accumulated losses of $11,529,916 and a working capital deficit of $1,358,296. 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 Policies
Significant Accounting Policies | 12 Months Ended |
May. 31, 2015 | |
Significant Accounting Policies [Text Block] | 2. Significant Accounting Policies (a) Basis of Presentation/Principles of Consolidation These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States. These 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 64.55% owned and Mantra Energy Alternatives Ltd., which is 88.21% owned. All inter- company balances and transactions have been eliminated. (b) Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to allowance for doubtful accounts, the estimated useful lives and recoverability of long-lived assets, valuation of inventory, equity component of convertible debt, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) Cash and Cash Equivalents The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. (d) Accounts Receivable The Company recognizes allowances for doubtful accounts to ensure accounts receivable are not overstated due to the inability or unwillingness of its customers to make required payments. The allowance is based on historical bad debt expense, the age of receivable and the specific identification of receivables the Company considers at risk. The Company had no allowance for doubtful accounts as of May 31, 2015 and 2014. (e) Property and Equipment Property and equipment are stated at cost. The Company depreciates the cost of property and equipment over their estimated useful lives at the following annual rates: Automotive 3 years straight-line basis Computer equipment 3 years straight-line basis Leasehold improvements 5 years straight-line basis Office equipment and furniture 5 years straight-line basis Research equipment 5 years straight-line basis (f) Intangible Assets Intangible assets consist of patents and are stated at cost and have a definite life. Intangible assets are amortized over their estimated useful lives. The Company periodically evaluates the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they are removed from the accounts. These assets are reviewed for impairment or obsolescence when events or changes in circumstances indicate that the carrying amount may not be recoverable. If impaired, intangible assets are written down to fair value based on discounted cash flows or other valuation techniques. The Company has no intangibles with indefinite lives. (g) Long-lived Assets In accordance with ASC 360, “ Property, Plant and Equipment (h) Foreign Currency Translation Transactions in foreign currencies are translated into the currency of measurement at the exchange rates in effect on the transaction date. Monetary balance sheet items expressed in foreign currencies are translated into U.S. dollars at the exchange rates in effect at the balance sheet date. The resulting exchange gains and losses are recognized in income. The Company’s integrated foreign subsidiaries are financially or operationally dependent on the Company. The Company uses the temporal method to translate the accounts of its integrated operations into U.S. dollars. Monetary assets and liabilities are translated at the exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at average rates for the period, except for amortization, which is translated on the same basis as the related asset. The resulting exchange gains or losses are recognized in income. (i) Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “ Accounting for Income Taxes As of May 31, 2015 and 2014, the Company did not have any amounts recorded pertaining to uncertain tax positions. The Company files federal and provincial income tax returns in Canada and federal, state and local income tax returns in the U.S., as applicable. The Company may be subject to a reassessment of federal and provincial income taxes by Canadian tax authorities for a period of three years from the date of the original notice of assessment in respect of any particular taxation year. For Canadian and U.S. income tax returns, the open taxation years range from 2010 to 2015. In certain circumstances, the U.S. federal statute of limitations can reach beyond the standard three year period. U.S. state statutes of limitations for income tax assessment vary from state to state. Tax authorities of Canada and U.S. have not audited any of the Company’s, or its subsidiaries’, income tax returns for the open taxation years noted above. The Company recognizes interest and penalties related to uncertain tax positions in tax expense. During the years ended May 31, 2015 and 2014, there were no charges for interest or penalties. (j) Technology Development Revenue Recognition The Company performs research and development services. The Company recognizes revenue under research contracts when a contract has been executed, the contract price is fixed and determinable, delivery of services or products has occurred, and collectability of the contract price is considered reasonably assured and can be reasonably estimated. Revenue is based on direct labor hours expended at contract billing rates plus other billable direct costs. (k) Research and Development Costs Research and development costs are expensed as incurred. (l) Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, “ Compensation – Stock Compensation The Company uses the Black-Scholes option pricing model to calculate the fair value of stock-based awards. This model is affected by the Company’s stock price as well as assumptions regarding a number of subjective variables. These subjective variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the consolidated statement of operations over the requisite service period. (m) Loss Per Share The Company computes loss per share in accordance with ASC 260, " Earnings per Share (n) Comprehensive Loss ASC 220, “ Comprehensive Income (o) 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. (p) Fair Value Measurements The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by US generally accepted accounting principles. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows: Level 1 – quoted prices for identical instruments in active markets. Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and. Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial instruments consist principally of cash and cash equivalents, accounts receivable, restricted cash, accounts payable, loans payable and convertible debentures. Derivative liabilities are determined based on “Level 3” inputs, which are significant and unobservable and have the lowest priority. There were no transfers into or out of “Level 3” during the year ended May 31, 2015 and 2014. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial statement. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. See Note 10 for additional information. (q) Derivative Liabilities The Company accounts for derivative instruments in accordance with ASC Topic 815, “ Derivatives and Hedging |
Restricted Cash
Restricted Cash | 12 Months Ended |
May. 31, 2015 | |
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 | 12 Months Ended |
May. 31, 2015 | |
Property and Equipment [Text Block] | 4. Property and Equipment May 31, May 31, 2015 2014 Accumulated Net carrying Net carrying Cost depreciation value value $ $ $ $ Furniture and equipment 2,496 457 2,039 – Computer 5,341 4,512 829 2,821 Research equipment 139,948 70,209 69,739 51,030 Vehicles under capital lease 68,340 50,742 17,598 40,380 216,125 125,920 90,205 94,231 |
Intangible Assets
Intangible Assets | 12 Months Ended |
May. 31, 2015 | |
Intangible Assets [Text Block] | 5. Intangible Assets May 31, May 31, 2015 2014 Accumulated Net carrying Net carrying Cost amortization value value $ $ $ $ Patents 58,628 4,051 54,577 29,547 Estimated Future Amortization Expense: $ For year ended May 31, 2016 3,235 For year ended May 31, 2017 3,235 For year ended May 31, 2018 3,235 For year ended May 31, 2019 3,235 For year ended May 31, 2020 3,235 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
May. 31, 2015 | |
Related Party Transactions [Text Block] | 6. Related Party Transactions a) During the year ended May 31, 2015, the Company incurred management fees of $162,449 (2014 - $128,917) and rent of $Nil (2014 - $13,500) to the President of the Company. b) During the year ended May 31, 2015, the Company incurred management fees of $54,760 (2014 - $55,546) to the spouse of the President of the Company. c) During the year ended May 31, 2015, the Company incurred research and development fees of $76,065 (2014 - $65,121) to a director of the Company. d) On December 9, 2014, the Company granted 200,000 stock options exercisable at $0.20 per share for a period of two years to a director. The Company recorded the fair value of the vested portion of the options of $36,797 as management fees. e) On March 17, 2015, the Company granted 200,000 stock options exercisable at $0.20 per share for a period of two years to a director. The Company recorded the fair value of the vested portion of the options of $13,472 as management fees. f) On March 17, 2015, the Company granted 100,000 stock options exercisable at $0.20 per share for a period of two years to a director. The Company recorded the fair value of the vested portion of the options of $6,736 as management fees. g) On March 17, 2015, the Company granted 100,000 stock options exercisable at $0.20 per share for a period of two years to the President of the Company. The Company recorded the fair value of the vested portion of the options of $6,736 as management fees. h) As at May 31, 2015, the Company owes a total of $93,418 (May 31, 2014 - $136,320) to the President of the Company and his spouse, and a company controlled by the President of the Company which is non-interest bearing, unsecured, and due on demand. i) As at May 31, 2015, the Company owes $18,775 (May 31, 2014- $23,383) to an officer and a director of the Company, which is non-interest bearing, unsecured, and due on demand. |
Loans Payable
Loans Payable | 12 Months Ended |
May. 31, 2015 | |
Loans Payable [Text Block] | 7. Loans Payable (a) As at May 31, 2015, the amount of $50,738 (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 May 31, 2015, 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 May 31, 2015, 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 May 31, 2015, the amount of $15,171 (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 May 31, 2015, the amounts of $7,500 and $29,707 (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 May 31, 2015, the amount of $4,490 (May 31, 2014 - $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 Lease
Obligations Under Capital Lease | 12 Months Ended |
May. 31, 2015 | |
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 May 31, 2015: Year ending May 31: $ 2016 18,222 Net minimum lease payments 18,222 Less: amount representing interest payments (897 ) Present value of net minimum lease payments 17,325 Less: current portion (17,325 ) Long-term portion – At the end of both leases, the Company has the option to purchase the vehicles for $9,000 each. |
Convertible Debentures
Convertible Debentures | 12 Months Ended |
May. 31, 2015 | |
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 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 year ended May 31, 2015, the Company repaid $54,808 decreasing the carrying value to $59,853. At May 31, 2015, the other remaining debenture of $50,000 remained outstanding and past due. (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 May 31, 2015, the carrying value of the convertible promissory note was $7,794. (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 May 31, 2015, the carrying value of the convertible promissory note was $32,888. (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 May 31, 2015, the carrying value of the convertible promissory note was $39,575. (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 May 31, 2015, the carrying value of the convertible promissory note was $9,462. (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 May 31, 2015, the carrying value of the convertible promissory note was $5,978. (g) On February 17, 2015, the Company issued a convertible note in the principal amount of $125,000. The note has a cash redemption premium of 130% of the principal amount in the first 90 days following the execution date, of 135% for days 90-120 following the execution date, and 140% after the 120th day. After 140 days cash redemption is only available upon approval by the holder. The note bears interest at 12% per annum and is convertible into common shares of the Company at the lower of a 42% discount to the lowest trading price during the previous 20 trading days to the date of conversion; or a 42% discount to the lowest trading price during the previous 20 trading days before the date the note was executed. The embedded conversion option qualifies for derivative accounting and bifurcation under ASC 815-15 “ Derivatives and Hedging |
Derivative Liabilities
Derivative Liabilities | 12 Months Ended |
May. 31, 2015 | |
Derivative Liabilities [Text Block] | 10. Derivative Liabilities The embedded conversion option of the convertible debenture described in Note 9(g) contains a conversion feature that qualifies for embedded derivative classification. The fair value of the liability will be re-measured at the end of every reporting period and the change in fair value will be reported in the statement of operations as a gain or loss on derivative financial instruments. Upon the issuance of the convertible note payable described in Note 9(g), the Company concluded that it only has sufficient shares to satisfy the conversion of some but not all of the outstanding convertible notes, warrants and options. The Company elected to reclassify contracts from equity with the earliest inception date first. As a result none of the Company’s previously outstanding convertible instruments qualified for derivative reclassification, however, any convertible securities issued after the election would qualify for treatment as derivative liabilities. The Company reassesses the classification of the instruments at each balance sheet date. If the classification changes as a result of events during the period, the contract is reclassified as of the date of the event that caused the reclassification. The table below sets forth a summary of changes in the fair value of the Company’s Level 3 financial liabilities: May 31, 2015 May 31, 2014 Balance at the beginning of period $ – $ – Addition of new derivative liabilities (embedded conversion options) 160,244 – Change in fair value of embedded conversion option 193,424 – Balance at the end of the period $ 353,668 $ – The following table summarizes the change in fair value of derivatives: May 31, 2015 May 31, 2014 Fair value of derivative liabilities in excess of note proceeds received $ (35,244 ) $ – Change in fair value of derivative liabilities during period (193,424 ) – Change in fair value of derivatives $ (228,668 ) $ – The Company uses Level 2 inputs for its valuation methodology for the embedded conversion option liabilities as their fair values were determined by using the Black-Scholes option pricing model based on various assumptions. The model incorporates the price of a share of the Company’s common stock (as quoted on the Over the Counter Bulletin Board), volatility, risk free rate, dividend rate and estimated life. Significant changes in any of these inputs in isolation would result in a significant change in the fair value measurement. As required, these are classified based on the lowest level of input that is significant to the fair value measurement. The following table shows the assumptions used in the calculations: Expected Expected Expected Risk-free Interest Dividend Life (in Volatility Rate Yield years) At issuance 124% 0.07% 0% 0.50 At May 31, 2015 133% 0.10% 0% 0.21 |
Common Stock
Common Stock | 12 Months Ended |
May. 31, 2015 | |
Common Stock [Text Block] | 11. Common Stock (a) As at May 31, 2015, 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) As at May 31, 2015 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. (c) As at May 31, 2015, 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. Stock transactions during the year months ended May 31, 2015: (d) On June 4, 2014, the Company issued 333,333 units at $0.30 per unit for proceeds of $100,000. 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. At May 31, 2014, the proceeds of $100,000 were included in common stock subscribed. (e) 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. (f) 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. (g) 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. (h) On June 30, and July 17, 2014, the Company issued 40,000 common shares with a fair value of $20,000 pursuant to a consulting agreement. (i) 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 included in common stock subscribed. (j) 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. (k) 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. (l) 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 issued 12,500 common shares with a fair value of $6,375 on September 15, 2014 and 12,500 common shares with a fair value of $5,000. (m) On October 15, 2014, the Company entered into a consulting agreement with a consultant. Pursuant to the agreement, the Company issued 10,000 common shares with a fair value of $4,500. (n) On November 5, 2014, the Company issued 150,000 units at $0.40 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 $0.60 per common share for a period of two years or 30 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 $0.90 per share for five consecutive trading days. (o) On February 24, 2015, the Company issued 500,000 units at $0.20 per unit for proceeds of $100,000. Each unit consists of one share of common stock and one share purchase warrant. Each share purchase warrant is exercisable at $0.60 per common share for a period of two years or 30 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 $0.90 per share for seven consecutive trading days. (p) On May 21, 2015, the Company issued 138,889 common shares at $0.18 per share for proceeds of $25,000. Stock transactions during the year ended May 31, 2014: (a) On July 15, 2013, the Company issued 1,871,588 units at $0.08 per unit for proceeds of $149,727, of which $26,000 was included in common stock subscribed as at May 31, 2013. 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) On February 11, 2014, the Company issued 40,000 units at $0.12 per unit for proceeds of $4,800. 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. (c) On February 11, 2014, the Company issued 575,000 units at $0.08 per unit for proceeds of $46,000. 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. (d) On February 11, 2014, the Company issued 100,000 units at $0.17 per unit for proceeds of $17,000 of which $17,000 was included in common stock subscribed as at May 31, 2013. 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 $0.40 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 $0.60 per share for seven consecutive trading days. (e) On February 18, 2014, the Company issued 1,205,500 units at $0.08 per unit for proceeds of $96,440. On April 3, 2014, the Company issued an additional 26,000 units for proceeds of $2,080 for shares that were omitted from the original issuance in error. Each unit consisted of one share of common stock and one share purchase warrant. Each share purchase warrant is exercisable at $0.15 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. (f) On February 18, 2014, the Company issued 400,000 units at $0.10 per unit for proceeds of $40,000. Each unit consisted of one share of common stock and one share purchase warrant. Each 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. (g) On March 1, 2014, the Company issued 500,000 common shares with a fair value of $0.18 per share to a consultant for consulting services. The Company recognized the fair value of the shares of $90,000 as $22,500 of consulting expenses and $67,500 of prepaid expenses. (h) On March 3, 2014, the Company issued 25,000 common shares with a fair value of $0.50 per share to a consultant for consulting services. The Company issued an additional 20,000 shares with a fair value of $0.38 and 20,000 shares with a fair value of $0.70 per share to the same consultant on May 9, 2014 and May 16, 2014, respectively The Company recognized the total fair value of the shares issued to the consultant of $34,100 as consulting expenses. (i) On March 18, 2014, the Company issued 100,000 units at $0.12 per unit for proceeds of $12,000. Each unit consisted of one share of common stock and one share purchase warrant. Each share purchase warrant is exercisable at $0.20 per share of common stock 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. (j) On March 18, 2014, the Company issued 685,000 units at $0.20 per unit for proceeds of $137,000. Each unit consisted of one share of common stock and one share purchase warrant. Each share purchase warrant is exercisable at $0.40 per share of common stock 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 $0.80 per share for seven consecutive trading days. At May 31, 2014, $1,791 of proceeds was receivable. (k) On April 3, 2014, the Company issued 3,777,958 shares of common stock upon the exercise of warrants for proceeds of $711,442. (l) On April 10, 2014, the Company issued 4,075,000 units at $0.20 per unit for proceeds of $815,000. Each unit consisted of one share of common stock and one share purchase warrant. Each share purchase warrant is exercisable at $0.37 per share of common stock 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 $2.50 per share for seven consecutive trading days. (m) On April 18, 2014, the Company issued 410,000 shares of common stock upon the exercise of warrants for proceeds of $71,500. (n) On April 30, 2014, the Company issued 100,000 shares of common stock upon the exercise of stock options at $0.12 per share for proceeds of $12,000. |
Share Purchase Warrants
Share Purchase Warrants | 12 Months Ended |
May. 31, 2015 | |
Share Purchase Warrants [Text Block] | 12. Share Purchase Warrants The following table summarizes the continuity of share purchase warrants: Weighted average Number of exercise price warrants $ Balance, May 31, 2014 9,818,402 0.29 Issued 1,183,333 0.69 Exercised (240,000 ) 0.26 Expired (5,503,402 ) 0.23 Balance, May 31, 2015 5,258,333 0.44 As at May 31, 2015, the following share purchase warrants were outstanding: Exercise Number of price warrants $ Expiry date 150,000 0.60 November 18, 2016 500,000 0.60 February 27, 2017 333,333 0.80 June 4, 2017 200,000 0.80 July 11, 2017 4,075,000 0.37 April 10, 2019 5,258,333 |
Stock Options
Stock Options | 12 Months Ended |
May. 31, 2015 | |
Stock Options [Text Block] | 13. 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 year following the date of grant. The Company recorded the fair value of the vested portion of the options of $19,164 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. On November 1, 2014, the Company granted 100,000 stock options each to two employees. The options are exercisable at $0.20 per share for a period of two years. The Company recorded the fair value of the options of $55,600 as consulting fees. On December 9, 2014, the Company granted 200,000 stock options exercisable at $0.20 per share for a period of two years to a director. The options vest 25% on the date of grant and 25% every four months following the date of grant. The Company recorded the fair value of the vested portion of the options of $36,797 as management fees. On March 17, 2015, the Company granted 100,000 options to the President of the Company and 300,000 stock options to two directors. The options are exercisable at $0.20 per share for a period of two years. The Company recorded the fair value of the vested portion of the options of $26,944 as management 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 1,350,000 0.18 Expired (200,000 ) 0.10 Exercised (150,000 ) 0.20 Outstanding, May 31, 2015 1,675,000 0.20 1.17 101,125 Exercisable, May 31, 2015 1,125,000 0.19 0.97 79,125 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 1,350,000 0.30 Vested (800,000 ) 0.35 Non-vested at May 31, 2015 550,000 0.23 As at May 31, 2015, there was $39,146 of unrecognized compensation cost related to non-vested stock option agreements. This cost is expected to be recognized over a weighted average period of 0.49 years. Additional information regarding stock options as of May 31, 2015 is as follows: Exercise Number of price options $ Expiry date 300,000 0.20 July 1, 2015 175,000 0.20 April 28, 2016 200,000 0.30 July 17, 2016 200,000 0.10 August 1, 2016 200,000 0.20 November 1, 2016 200,000 0.20 December 9, 2016 400,000 0.20 March 16, 2017 1,675,000 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: May 31, 2015 May 31, 2014 Risk-free Interest rate 0.57% 0.33% Expected life (in years) 1.98 2.0 Expected volatility 113% 194% During the year ended May 31, 2015, the Company recorded stock-based compensation of $322,005 (2014 - $38,200) for stock options granted. The weighted average fair value of the stock options granted for the year ended May 31, 2015, was $0.30 (2014 - $0.13) per option. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
May. 31, 2015 | |
Commitments and Contingencies [Text Block] | 14. 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: September 1, 2010 Cdn$10,000 (paid) September 1, 2011 Cdn$20,000 (accrued) September 1, 2012 Cdn$30,000(accrued) September 1, 2013 Cdn$40,000 (accrued) September 1, 2014 Cdn$50,000 (accrued) and each 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 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 May 31, 2015: Twelve month periods ending May 31: $ 2016 37,669 2017 2,154 39,823 (d) On November 1, 2014, the Company’s subsidiary entered into an employment agreement. Pursuant to the agreement, the employee will perform services for a term of one year for base remuneration of $80,000 per annum. In addition, the Company granted to the employee 100,000 stock options exercisable at a price of $0.20 per share. These options are non- transferrable, vest immediately, and expire upon the earlier of 24 months, or upon termination of the employment agreements. (e) On November 1, 2014, the Company’s subsidiary entered into an employment agreement. Pursuant to the agreement, the employee will perform services for a term of one year for base remuneration of $86,000 per annum. In addition, the Company granted to the employee 100,000 stock options exercisable at a price of $0.20 per share. These options are non- transferrable, vest immediately, and expire upon the earlier of 24 months, or upon termination of the employment agreements. (f) On November 15, 2013, the Company entered into a second settlement agreement with the $150,000 debenture holder described in Note 9(a). Pursuant to the second amendment, on November 15, 2013, the Company agreed to make monthly payments of $10,000 on the outstanding principal and interest. Payments were made until December 2014, but have not been made after. The plaintiff is seeking relief of amounts owed along with 10% interest per annum, from the date of judgments. All amounts are recorded in these financial statements. |
Income Taxes
Income Taxes | 12 Months Ended |
May. 31, 2015 | |
Income Taxes [Text Block] | 15. Income Taxes The Company has net operating losses carried forward of $10,104,812 available to offset taxable income in future years which expires in beginning in fiscal 2027. The Company is subject to Canadian and United States federal and state income taxes at an approximate rate of 34%. The reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company’s income tax expense as reported is as follows: 2015 2014 $ $ Income tax recovery at statutory rate (778,611 ) (459,938 ) Permanent differences and other 239,113 58,557 Valuation allowance change 539,498 401,381 Provision for income taxes – – The significant components of deferred income tax assets and liabilities as at May 31, 2015 and 2014 are as follows: 2015 2014 $ $ Net operating losses carried forward 3,435,636 2,896,138 Valuation allowance (3, 435,636 ) (2,896,138 ) Net deferred income tax asset – – |
Subsequent Events
Subsequent Events | 12 Months Ended |
May. 31, 2015 | |
Subsequent Events [Text Block] | 16. Subsequent Events (a) On June 1, 2015, the Company issued a convertible note in the principal amount of $100,000 due on demand on or after December 1, 2015. The note has a cash redemption premium of 130% of the principal amount in the first 90 days following the execution date, of 135% for days 90-120 following the execution date, and 140% after the 120th day. After 140 days cash redemption is only available upon approval by the holder. The note bears interest at 12% per annum and is convertible into common shares of the Company at the lower of a 42% discount to the lowest trading price during the previous 20 trading days to the date of conversion; or a 42% discount to the lowest trading price during the previous 20 trading days before the date the note was executed. In no event shall the conversion price be lower than $0.00001. (b) On June 15, 2015, the Company entered into a consulting agreement pursuant to which the consultant will provide consulting services for six months in consideration for $65,000 per year. (c) The Company entered into a consulting agreement pursuant to which the consultant will provide consulting services for a period of six months in consideration for 150,000 common shares and $3,000 per month for the first three months and $5,000 for the remaining three months. (d) On July 20, 2015, the Company issued 93,750 common shares at $0.16 per share for proceeds of $15,000. (e) On July 22, 2015, the Company issued 300,000 shares to settle $24,000 owed to a creditor. (f) On August 4, 2015, the Company borrowed $50,000 pursuant to a promissory note. The note was due on September 4, 2015. The note bears interest at 120% per annum prior September 4, 2015, and at 180% per annum after September 4, 2015. The holder of the note was also granted the rights to buy 100,000 shares of the Company’s common stock at a price of $0.15 per share until August 4, 2017. The Company has only repaid $35,000 of the outstanding principal and the note is in default. (g) On August 24, 2015, the Company issued 322,872 shares of common stock upon the conversion of $15,000 of principal of the convertible note described in Note 9(g). |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
May. 31, 2015 | |
Basis of Presentation/Principles of Consolidation [Policy Text Block] | (a) Basis of Presentation/Principles of Consolidation These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States. These 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 64.55% owned and Mantra Energy Alternatives Ltd., which is 88.21% owned. All inter- company balances and transactions have been eliminated. |
Use of Estimates [Policy Text Block] | (b) Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to allowance for doubtful accounts, the estimated useful lives and recoverability of long-lived assets, valuation of inventory, equity component of convertible debt, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Cash and Cash Equivalents [Policy Text Block] | (c) Cash and Cash Equivalents The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. |
Accounts Receivable [Policy Text Block] | (d) Accounts Receivable The Company recognizes allowances for doubtful accounts to ensure accounts receivable are not overstated due to the inability or unwillingness of its customers to make required payments. The allowance is based on historical bad debt expense, the age of receivable and the specific identification of receivables the Company considers at risk. The Company had no allowance for doubtful accounts as of May 31, 2015 and 2014. |
Property and Equipment [Policy Text Block] | (e) Property and Equipment Property and equipment are stated at cost. The Company depreciates the cost of property and equipment over their estimated useful lives at the following annual rates: Automotive 3 years straight-line basis Computer equipment 3 years straight-line basis Leasehold improvements 5 years straight-line basis Office equipment and furniture 5 years straight-line basis Research equipment 5 years straight-line basis |
Intangible Assets [Policy Text Block] | (f) Intangible Assets Intangible assets consist of patents and are stated at cost and have a definite life. Intangible assets are amortized over their estimated useful lives. The Company periodically evaluates the reasonableness of the useful lives of these assets. Once these assets are fully amortized, they are removed from the accounts. These assets are reviewed for impairment or obsolescence when events or changes in circumstances indicate that the carrying amount may not be recoverable. If impaired, intangible assets are written down to fair value based on discounted cash flows or other valuation techniques. The Company has no intangibles with indefinite lives. |
Long-lived Assets [Policy Text Block] | (g) Long-lived Assets In accordance with ASC 360, “ Property, Plant and Equipment |
Foreign Currency Translation [Policy Text Block] | (h) Foreign Currency Translation Transactions in foreign currencies are translated into the currency of measurement at the exchange rates in effect on the transaction date. Monetary balance sheet items expressed in foreign currencies are translated into U.S. dollars at the exchange rates in effect at the balance sheet date. The resulting exchange gains and losses are recognized in income. The Company’s integrated foreign subsidiaries are financially or operationally dependent on the Company. The Company uses the temporal method to translate the accounts of its integrated operations into U.S. dollars. Monetary assets and liabilities are translated at the exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at average rates for the period, except for amortization, which is translated on the same basis as the related asset. The resulting exchange gains or losses are recognized in income. |
Income Taxes [Policy Text Block] | (i) Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “ Accounting for Income Taxes As of May 31, 2015 and 2014, the Company did not have any amounts recorded pertaining to uncertain tax positions. |
Technology Development Revenue Recognition [Policy Text Block] | (j) Technology Development Revenue Recognition The Company performs research and development services. The Company recognizes revenue under research contracts when a contract has been executed, the contract price is fixed and determinable, delivery of services or products has occurred, and collectability of the contract price is considered reasonably assured and can be reasonably estimated. Revenue is based on direct labor hours expended at contract billing rates plus other billable direct costs. |
Research and Development Costs [Policy Text Block] | (k) Research and Development Costs Research and development costs are expensed as incurred. |
Stock-based Compensation [Policy Text Block] | (l) Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, “ Compensation – Stock Compensation The Company uses the Black-Scholes option pricing model to calculate the fair value of stock-based awards. This model is affected by the Company’s stock price as well as assumptions regarding a number of subjective variables. These subjective variables include, but are not limited to the Company’s expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the consolidated statement of operations over the requisite service period. |
Loss Per Share [Policy Text Block] | (m) Loss Per Share The Company computes loss per share in accordance with ASC 260, " Earnings per Share |
Comprehensive Loss [Policy Text Block] | (n) Comprehensive Loss ASC 220, “ Comprehensive Income |
Recent Accounting Pronouncements [Policy Text Block] | (o) 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. |
Fair Value Measurements [Policy Text Block] | (p) Fair Value Measurements The Company measures and discloses the estimated fair value of financial assets and liabilities using the fair value hierarchy prescribed by US generally accepted accounting principles. The fair value hierarchy has three levels, which are based on reliable available inputs of observable data. The hierarchy requires the use of observable market data when available. The three-level hierarchy is defined as follows: Level 1 – quoted prices for identical instruments in active markets. Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and. Level 3 – fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Financial instruments consist principally of cash and cash equivalents, accounts receivable, restricted cash, accounts payable, loans payable and convertible debentures. Derivative liabilities are determined based on “Level 3” inputs, which are significant and unobservable and have the lowest priority. There were no transfers into or out of “Level 3” during the year ended May 31, 2015 and 2014. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial statement. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. See Note 10 for additional information. |
Derivative Liabilities [Policy Text Block] | (q) Derivative Liabilities The Company accounts for derivative instruments in accordance with ASC Topic 815, “ Derivatives and Hedging |
Significant Accounting Polici24
Significant Accounting Policies (Tables) | 12 Months Ended |
May. 31, 2015 | |
Schedule of Estimated Useful Lives of Property and Equipment [Table Text Block] | Automotive 3 years straight-line basis Computer equipment 3 years straight-line basis Leasehold improvements 5 years straight-line basis Office equipment and furniture 5 years straight-line basis Research equipment 5 years straight-line basis |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
May. 31, 2015 | |
Schedule of Property, Plant and Equipment [Table Text Block] | May 31, May 31, 2015 2014 Accumulated Net carrying Net carrying Cost depreciation value value $ $ $ $ Furniture and equipment 2,496 457 2,039 – Computer 5,341 4,512 829 2,821 Research equipment 139,948 70,209 69,739 51,030 Vehicles under capital lease 68,340 50,742 17,598 40,380 216,125 125,920 90,205 94,231 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
May. 31, 2015 | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | May 31, May 31, 2015 2014 Accumulated Net carrying Net carrying Cost amortization value value $ $ $ $ Patents 58,628 4,051 54,577 29,547 Estimated Future Amortization Expense: |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | $ For year ended May 31, 2016 3,235 For year ended May 31, 2017 3,235 For year ended May 31, 2018 3,235 For year ended May 31, 2019 3,235 For year ended May 31, 2020 3,235 |
Obligations Under Capital Lea27
Obligations Under Capital Lease (Tables) | 12 Months Ended |
May. 31, 2015 | |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Year ending May 31: $ 2016 18,222 Net minimum lease payments 18,222 Less: amount representing interest payments (897 ) Present value of net minimum lease payments 17,325 Less: current portion (17,325 ) Long-term portion – |
Derivative Liabilities (Tables)
Derivative Liabilities (Tables) | 12 Months Ended |
May. 31, 2015 | |
Changes in the fair value of the Companys Level 3 financial liabilities [Table Text Block] | May 31, 2015 May 31, 2014 Balance at the beginning of period $ – $ – Addition of new derivative liabilities (embedded conversion options) 160,244 – Change in fair value of embedded conversion option 193,424 – Balance at the end of the period $ 353,668 $ – |
Change in fair value of derivatives [Table Text Block] | May 31, 2015 May 31, 2014 Fair value of derivative liabilities in excess of note proceeds received $ (35,244 ) $ – Change in fair value of derivative liabilities during period (193,424 ) – Change in fair value of derivatives $ (228,668 ) $ – |
Fair value assumptions used in fair value calculation [Table Text Block] | Expected Expected Expected Risk-free Interest Dividend Life (in Volatility Rate Yield years) At issuance 124% 0.07% 0% 0.50 At May 31, 2015 133% 0.10% 0% 0.21 |
Share Purchase Warrants (Tables
Share Purchase Warrants (Tables) | 12 Months Ended |
May. 31, 2015 | |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | Weighted average Number of exercise price warrants $ Balance, May 31, 2014 9,818,402 0.29 Issued 1,183,333 0.69 Exercised (240,000 ) 0.26 Expired (5,503,402 ) 0.23 Balance, May 31, 2015 5,258,333 0.44 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Exercise Number of price warrants $ Expiry date 150,000 0.60 November 18, 2016 500,000 0.60 February 27, 2017 333,333 0.80 June 4, 2017 200,000 0.80 July 11, 2017 4,075,000 0.37 April 10, 2019 5,258,333 |
Stock Options (Tables)
Stock Options (Tables) | 12 Months Ended |
May. 31, 2015 | |
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 1,350,000 0.18 Expired (200,000 ) 0.10 Exercised (150,000 ) 0.20 Outstanding, May 31, 2015 1,675,000 0.20 1.17 101,125 Exercisable, May 31, 2015 1,125,000 0.19 0.97 79,125 |
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 1,350,000 0.30 Vested (800,000 ) 0.35 Non-vested at May 31, 2015 550,000 0.23 |
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Exercise Number of price options $ Expiry date 300,000 0.20 July 1, 2015 175,000 0.20 April 28, 2016 200,000 0.30 July 17, 2016 200,000 0.10 August 1, 2016 200,000 0.20 November 1, 2016 200,000 0.20 December 9, 2016 400,000 0.20 March 16, 2017 1,675,000 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | May 31, 2015 May 31, 2014 Risk-free Interest rate 0.57% 0.33% Expected life (in years) 1.98 2.0 Expected volatility 113% 194% |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
May. 31, 2015 | |
Long-term Purchase Commitment [Table Text Block] | September 1, 2010 Cdn$10,000 (paid) September 1, 2011 Cdn$20,000 (accrued) September 1, 2012 Cdn$30,000(accrued) September 1, 2013 Cdn$40,000 (accrued) September 1, 2014 Cdn$50,000 (accrued) and each successive anniversary |
Schedule of Future Minimum Lease Payments under Capital Leases [Table Text Block] | Twelve month periods ending May 31: $ 2016 37,669 2017 2,154 39,823 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
May. 31, 2015 | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2015 2014 $ $ Income tax recovery at statutory rate (778,611 ) (459,938 ) Permanent differences and other 239,113 58,557 Valuation allowance change 539,498 401,381 Provision for income taxes – – |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2015 2014 $ $ Net operating losses carried forward 3,435,636 2,896,138 Valuation allowance (3, 435,636 ) (2,896,138 ) Net deferred income tax asset – – |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Basis Of Presentation 1 | $ 11,529,916 |
Basis Of Presentation 2 | $ 1,358,296 |
Significant Accounting Polici34
Significant Accounting Policies (Narrative) (Details) - 12 months ended May. 31, 2015 - USD ($) | Total |
Significant Accounting Policies 1 | 64.55% |
Significant Accounting Policies 2 | 88.21% |
Significant Accounting Policies 3 | 8,838,205 |
Significant Accounting Policies 4 | 10,904,755 |
Significant Accounting Policies 5 | $ 353,668 |
Significant Accounting Policies 6 | $ 0 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - 12 months ended May. 31, 2015 - USD ($) | Total |
Related Party Transactions 1 | $ 162,449 |
Related Party Transactions 2 | 128,917 |
Related Party Transactions 3 | 0 |
Related Party Transactions 4 | 13,500 |
Related Party Transactions 5 | 54,760 |
Related Party Transactions 6 | 55,546 |
Related Party Transactions 7 | 76,065 |
Related Party Transactions 8 | $ 65,121 |
Related Party Transactions 9 | 200,000 |
Related Party Transactions 10 | $ 0.20 |
Related Party Transactions 11 | $ 36,797 |
Related Party Transactions 12 | 200,000 |
Related Party Transactions 13 | $ 0.20 |
Related Party Transactions 14 | $ 13,472 |
Related Party Transactions 15 | 100,000 |
Related Party Transactions 16 | $ 0.20 |
Related Party Transactions 17 | $ 6,736 |
Related Party Transactions 18 | 100,000 |
Related Party Transactions 19 | $ 0.20 |
Related Party Transactions 20 | $ 6,736 |
Related Party Transactions 21 | 93,418 |
Related Party Transactions 22 | 136,320 |
Related Party Transactions 23 | 18,775 |
Related Party Transactions 24 | $ 23,383 |
Loans Payable (Narrative) (Deta
Loans Payable (Narrative) (Details) - 12 months ended May. 31, 2015 | USD ($)shares | CADshares |
Loans Payable 1 | $ 50,738 | |
Loans Payable 2 | CAD | CAD 63,300 | |
Loans Payable 3 | 58,251 | |
Loans Payable 4 | CAD | 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 | 15,171 | |
Loans Payable 10 | CAD | 18,895 | |
Loans Payable 11 | 17,387 | |
Loans Payable 12 | CAD | 18,895 | |
Loans Payable 13 | 7,500 | |
Loans Payable 14 | 29,707 | |
Loans Payable 15 | CAD | 37,000 | |
Loans Payable 16 | 7,500 | |
Loans Payable 17 | 34,048 | |
Loans Payable 18 | CAD | CAD 37,000 | |
Loans Payable 19 | 4,490 | |
Loans Payable 20 | 4,490 | |
Loans Payable 21 | $ 50,000 | |
Loans Payable 22 | shares | 10,000,000 | 10,000,000 |
Obligations Under Capital Lea37
Obligations Under Capital Lease (Narrative) (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Obligations Under Capital Lease 1 | $ 9,000 |
Convertible Debentures (Narrati
Convertible Debentures (Narrative) (Details) - 12 months ended May. 31, 2015 | USD ($)mod$ / sharesCAD / moshares | CADmodCAD / moshares |
Convertible Debentures 1 | $ 250,000 | |
Convertible Debentures 2 | 10.00% | 10.00% |
Convertible Debentures 3 | shares | 625,000 | 625,000 |
Convertible Debentures 4 | $ / shares | $ 0.40 | |
Convertible Debentures 5 | 250,000 | 250,000 |
Convertible Debentures 6 | $ / shares | $ 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 | CAD | CAD 100,000 | |
Convertible Debentures 13 | CAD / mo | 2,500 | 2,500 |
Convertible Debentures 14 | mo | 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 | shares | 100,000 | 100,000 |
Convertible Debentures 21 | $ / shares | $ 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 | 54,808 | |
Convertible Debentures 30 | 59,853 | |
Convertible Debentures 31 | 50,000 | |
Convertible Debentures 32 | $ 10,000 | |
Convertible Debentures 33 | 10.00% | 10.00% |
Convertible Debentures 34 | $ / shares | $ 0.04 | |
Convertible Debentures 35 | $ 10,000 | |
Convertible Debentures 36 | 0 | |
Convertible Debentures 37 | 10,000 | |
Convertible Debentures 38 | 7,794 | |
Convertible Debentures 39 | $ 58,000 | |
Convertible Debentures 40 | 10.00% | 10.00% |
Convertible Debentures 41 | $ / shares | $ 0.04 | |
Convertible Debentures 42 | $ 58,000 | |
Convertible Debentures 43 | 0 | |
Convertible Debentures 44 | 58,000 | |
Convertible Debentures 45 | 32,888 | |
Convertible Debentures 46 | $ 94,000 | |
Convertible Debentures 47 | 10.00% | 10.00% |
Convertible Debentures 48 | $ / shares | $ 0.04 | |
Convertible Debentures 49 | $ 94,000 | |
Convertible Debentures 50 | 0 | |
Convertible Debentures 51 | 94,000 | |
Convertible Debentures 52 | 39,575 | |
Convertible Debentures 53 | $ 15,000 | |
Convertible Debentures 54 | 10.00% | 10.00% |
Convertible Debentures 55 | $ / shares | $ 0.04 | |
Convertible Debentures 56 | $ 15,000 | |
Convertible Debentures 57 | 0 | |
Convertible Debentures 58 | 15,000 | |
Convertible Debentures 59 | 9,462 | |
Convertible Debentures 60 | $ 15,000 | |
Convertible Debentures 61 | 10.00% | 10.00% |
Convertible Debentures 62 | $ / shares | $ 0.04 | |
Convertible Debentures 63 | $ 15,000 | |
Convertible Debentures 64 | 0 | |
Convertible Debentures 65 | 15,000 | |
Convertible Debentures 66 | 5,978 | |
Convertible Debentures 67 | $ 125,000 | |
Convertible Debentures 68 | 130.00% | 130.00% |
Convertible Debentures 69 | d | 90 | 90 |
Convertible Debentures 70 | 135.00% | 135.00% |
Convertible Debentures 71 | 140.00% | 140.00% |
Convertible Debentures 72 | d | 140 | 140 |
Convertible Debentures 73 | 12.00% | 12.00% |
Convertible Debentures 74 | 42.00% | 42.00% |
Convertible Debentures 75 | d | 20 | 20 |
Convertible Debentures 76 | 42.00% | 42.00% |
Convertible Debentures 77 | d | 20 | 20 |
Convertible Debentures 78 | $ 160,244 | |
Convertible Debentures 79 | 125,000 | |
Convertible Debentures 80 | 35,244 | |
Convertible Debentures 81 | 31,783 | |
Convertible Debentures 82 | $ 31,783 |
Common Stock (Narrative) (Detai
Common Stock (Narrative) (Details) - 12 months ended May. 31, 2015 | USD ($)d$ / sharesshares | CADdCAD / sharesshares |
Common Stock 1 | $ 2,080 | |
Common Stock 2 | $ / shares | $ 0.08 | |
Common Stock 3 | shares | 26,000 | 26,000 |
Common Stock 4 | $ 0.20 | |
Common Stock 5 | $ / shares | $ 0.40 | |
Common Stock 6 | shares | 67,000 | 67,000 |
Common Stock 7 | CAD / shares | CAD 1 | |
Common Stock 8 | $ 66,277 | |
Common Stock 9 | CAD | CAD 67,000 | |
Common Stock 10 | $ 7,231 | |
Common Stock 11 | shares | 210,000 | 210,000 |
Common Stock 12 | $ / shares | $ 0.10 | |
Common Stock 13 | $ 21,000 | |
Common Stock 14 | $ 7,384 | |
Common Stock 15 | shares | 333,333 | 333,333 |
Common Stock 16 | $ / shares | $ 0.30 | |
Common Stock 17 | $ 100,000 | |
Common Stock 18 | $ 0.80 | |
Common Stock 19 | $ / shares | $ 1.60 | |
Common Stock 20 | $ 100,000 | |
Common Stock 21 | shares | 240,000 | 240,000 |
Common Stock 22 | $ 61,625 | |
Common Stock 23 | $ 32,625 | |
Common Stock 24 | shares | 500,000 | 500,000 |
Common Stock 25 | $ 270,000 | |
Common Stock 26 | shares | 500,000 | 500,000 |
Common Stock 27 | $ 270,000 | |
Common Stock 28 | 5 | |
Common Stock 29 | $ 269,995 | |
Common Stock 30 | shares | 200,000 | 200,000 |
Common Stock 31 | $ / shares | $ 0.30 | |
Common Stock 32 | $ 60,000 | |
Common Stock 33 | $ 0.80 | |
Common Stock 34 | $ / shares | $ 1.60 | |
Common Stock 35 | shares | 40,000 | 40,000 |
Common Stock 36 | $ 20,000 | |
Common Stock 37 | shares | 60,037 | 60,037 |
Common Stock 38 | $ 5,000 | |
Common Stock 39 | $ 4,019 | |
Common Stock 40 | shares | 12,000 | 12,000 |
Common Stock 41 | $ 5,880 | |
Common Stock 42 | shares | 150,000 | 150,000 |
Common Stock 43 | $ / shares | $ 0.02 | |
Common Stock 44 | $ 3,000 | |
Common Stock 45 | shares | 12,500 | 12,500 |
Common Stock 46 | $ 6,375 | |
Common Stock 47 | shares | 12,500 | 12,500 |
Common Stock 48 | $ 5,000 | |
Common Stock 49 | shares | 10,000 | 10,000 |
Common Stock 50 | $ 4,500 | |
Common Stock 51 | shares | 150,000 | 150,000 |
Common Stock 52 | $ / shares | $ 0.40 | |
Common Stock 53 | $ 60,000 | |
Common Stock 54 | $ 0.60 | |
Common Stock 55 | d | 30 | 30 |
Common Stock 56 | $ / shares | $ 0.90 | |
Common Stock 57 | shares | 500,000 | 500,000 |
Common Stock 58 | $ / shares | $ 0.20 | |
Common Stock 59 | $ 100,000 | |
Common Stock 60 | $ 0.60 | |
Common Stock 61 | d | 30 | 30 |
Common Stock 62 | $ / shares | $ 0.90 | |
Common Stock 63 | shares | 138,889 | 138,889 |
Common Stock 64 | $ / shares | $ 0.18 | |
Common Stock 65 | $ 25,000 | |
Common Stock 66 | shares | 1,871,588 | 1,871,588 |
Common Stock 67 | $ / shares | $ 0.08 | |
Common Stock 68 | $ 149,727 | |
Common Stock 69 | 26,000 | |
Common Stock 70 | $ 0.20 | |
Common Stock 71 | $ / shares | $ 0.40 | |
Common Stock 72 | shares | 40,000 | 40,000 |
Common Stock 73 | $ / shares | $ 0.12 | |
Common Stock 74 | $ 4,800 | |
Common Stock 75 | $ 0.20 | |
Common Stock 76 | $ / shares | $ 0.40 | |
Common Stock 77 | shares | 575,000 | 575,000 |
Common Stock 78 | $ / shares | $ 0.08 | |
Common Stock 79 | $ 46,000 | |
Common Stock 80 | $ 0.20 | |
Common Stock 81 | $ / shares | $ 0.40 | |
Common Stock 82 | shares | 100,000 | 100,000 |
Common Stock 83 | $ / shares | $ 0.17 | |
Common Stock 84 | $ 17,000 | |
Common Stock 85 | 17,000 | |
Common Stock 86 | $ 0.40 | |
Common Stock 87 | $ / shares | $ 0.60 | |
Common Stock 88 | shares | 1,205,500 | 1,205,500 |
Common Stock 89 | $ / shares | $ 0.08 | |
Common Stock 90 | $ 96,440 | |
Common Stock 91 | shares | 26,000 | 26,000 |
Common Stock 92 | $ 2,080 | |
Common Stock 93 | $ 0.15 | |
Common Stock 94 | $ / shares | $ 0.40 | |
Common Stock 95 | shares | 400,000 | 400,000 |
Common Stock 96 | $ / shares | $ 0.10 | |
Common Stock 97 | $ 40,000 | |
Common Stock 98 | $ 0.20 | |
Common Stock 99 | $ / shares | $ 0.40 | |
Common Stock 100 | shares | 500,000 | 500,000 |
Common Stock 101 | $ / shares | $ 0.18 | |
Common Stock 102 | $ 90,000 | |
Common Stock 103 | 22,500 | |
Common Stock 104 | $ 67,500 | |
Common Stock 105 | shares | 25,000 | 25,000 |
Common Stock 106 | $ / shares | $ 0.50 | |
Common Stock 107 | shares | 20,000 | 20,000 |
Common Stock 108 | $ 0.38 | |
Common Stock 109 | shares | 20,000 | 20,000 |
Common Stock 110 | $ / shares | $ 0.70 | |
Common Stock 111 | $ 34,100 | |
Common Stock 112 | shares | 100,000 | 100,000 |
Common Stock 113 | $ / shares | $ 0.12 | |
Common Stock 114 | $ 12,000 | |
Common Stock 115 | $ / shares | $ 0.20 | |
Common Stock 116 | $ / shares | $ 0.40 | |
Common Stock 117 | shares | 685,000 | 685,000 |
Common Stock 118 | $ / shares | $ 0.20 | |
Common Stock 119 | $ 137,000 | |
Common Stock 120 | $ / shares | $ 0.40 | |
Common Stock 121 | $ / shares | $ 0.80 | |
Common Stock 122 | $ 1,791 | |
Common Stock 123 | shares | 3,777,958 | 3,777,958 |
Common Stock 124 | $ 711,442 | |
Common Stock 125 | shares | 4,075,000 | 4,075,000 |
Common Stock 126 | $ / shares | $ 0.20 | |
Common Stock 127 | $ 815,000 | |
Common Stock 128 | $ / shares | $ 0.37 | |
Common Stock 129 | $ / shares | $ 2.50 | |
Common Stock 130 | shares | 410,000 | 410,000 |
Common Stock 131 | $ 71,500 | |
Common Stock 132 | shares | 100,000 | 100,000 |
Common Stock 133 | $ / shares | $ 0.12 | |
Common Stock 134 | $ 12,000 |
Stock Options (Narrative) (Deta
Stock Options (Narrative) (Details) - 12 months ended May. 31, 2015 | USD ($)yr$ / sharesshares |
Stock Options 1 | shares | 150,000 |
Stock Options 2 | $ / shares | $ 0.02 |
Stock Options 3 | $ 94,600 |
Stock Options 4 | shares | 200,000 |
Stock Options 5 | $ / shares | $ 0.30 |
Stock Options 6 | 25.00% |
Stock Options 7 | $ 19,164 |
Stock Options 8 | shares | 100,000 |
Stock Options 9 | $ / shares | $ 0.10 |
Stock Options 10 | $ 88,900 |
Stock Options 11 | shares | 100,000 |
Stock Options 12 | $ / shares | $ 0.20 |
Stock Options 13 | $ 55,600 |
Stock Options 14 | shares | 200,000 |
Stock Options 15 | $ / shares | $ 0.20 |
Stock Options 16 | 25.00% |
Stock Options 17 | 25.00% |
Stock Options 18 | $ 36,797 |
Stock Options 19 | shares | 100,000 |
Stock Options 20 | shares | 300,000 |
Stock Options 21 | $ / shares | $ 0.20 |
Stock Options 22 | $ 26,944 |
Stock Options 23 | $ 39,146 |
Stock Options 24 | yr | 0.49 |
Stock Options 25 | $ 322,005 |
Stock Options 26 | 38,200 |
Stock Options 27 | $ 0.30 |
Stock Options 28 | $ / shares | $ 0.13 |
Commitments and Contingencies41
Commitments and Contingencies (Narrative) (Details) - 12 months ended May. 31, 2015 | USD ($)mo$ / sharesshares | CADmoshares |
Commitments And Contingencies 1 | CAD 10,000 | |
Commitments And Contingencies 2 | 5,000 | |
Commitments And Contingencies 3 | 5,000 | |
Commitments And Contingencies 4 | CAD 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 | CAD 250,000 | |
Commitments And Contingencies 9 | $ | $ 55,000 | |
Commitments And Contingencies 10 | $ | $ 55,000 | |
Commitments And Contingencies 11 | shares | 1,000,000 | 1,000,000 |
Commitments And Contingencies 12 | shares | 1,000,000 | 1,000,000 |
Commitments And Contingencies 13 | $ | $ 55,000 | |
Commitments And Contingencies 14 | shares | 1,000,000 | 1,000,000 |
Commitments And Contingencies 15 | CAD 2,683 | |
Commitments And Contingencies 16 | CAD 1,240 | |
Commitments And Contingencies 17 | $ | $ 80,000 | |
Commitments And Contingencies 18 | shares | 100,000 | 100,000 |
Commitments And Contingencies 19 | $ / shares | $ 0.20 | |
Commitments And Contingencies 20 | mo | 24 | 24 |
Commitments And Contingencies 21 | $ | $ 86,000 | |
Commitments And Contingencies 22 | shares | 100,000 | 100,000 |
Commitments And Contingencies 23 | $ / shares | $ 0.20 | |
Commitments And Contingencies 24 | mo | 24 | 24 |
Commitments And Contingencies 25 | $ | $ 150,000 | |
Commitments And Contingencies 26 | $ | $ 10,000 | |
Commitments And Contingencies 27 | 10.00% | 10.00% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - 12 months ended May. 31, 2015 - USD ($) | Total |
Income Taxes 1 | $ 10,104,812 |
Income Taxes 2 | 34.00% |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) - 12 months ended May. 31, 2015 | USD ($)d$ / shares$ / yr$ / moshares |
Subsequent Events 1 | $ 100,000 |
Subsequent Events 2 | 130.00% |
Subsequent Events 3 | d | 90 |
Subsequent Events 4 | 135.00% |
Subsequent Events 5 | 140.00% |
Subsequent Events 6 | d | 140 |
Subsequent Events 7 | 12.00% |
Subsequent Events 8 | 42.00% |
Subsequent Events 9 | d | 20 |
Subsequent Events 10 | 42.00% |
Subsequent Events 11 | d | 20 |
Subsequent Events 12 | $ 0.00001 |
Subsequent Events 13 | $ / yr | 65,000 |
Subsequent Events 14 | shares | 150,000 |
Subsequent Events 15 | $ / mo | 3,000 |
Subsequent Events 16 | $ 5,000 |
Subsequent Events 17 | shares | 93,750 |
Subsequent Events 18 | $ / shares | $ 0.16 |
Subsequent Events 19 | $ 15,000 |
Subsequent Events 20 | shares | 300,000 |
Subsequent Events 21 | $ 24,000 |
Subsequent Events 22 | $ 50,000 |
Subsequent Events 23 | 120.00% |
Subsequent Events 24 | 180.00% |
Subsequent Events 25 | shares | 100,000 |
Subsequent Events 26 | $ / shares | $ 0.15 |
Subsequent Events 27 | $ 35,000 |
Subsequent Events 28 | shares | 322,872 |
Subsequent Events 29 | $ 15,000 |
Schedule of Estimated Useful Li
Schedule of Estimated Useful Lives of Property and Equipment (Details) | 12 Months Ended |
May. 31, 2015yr | |
Significant Accounting Policies Schedule Of Estimated Useful Lives Of Property And Equipment 1 | 3 |
Significant Accounting Policies Schedule Of Estimated Useful Lives Of Property And Equipment 2 | 3 |
Significant Accounting Policies Schedule Of Estimated Useful Lives Of Property And Equipment 3 | 5 |
Significant Accounting Policies Schedule Of Estimated Useful Lives Of Property And Equipment 4 | 5 |
Significant Accounting Policies Schedule Of Estimated Useful Lives Of Property And Equipment 5 | 5 |
Schedule of Property, Plant and
Schedule of Property, Plant and Equipment (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Property And Equipment Schedule Of Property, Plant And Equipment 1 | $ 2,496 |
Property And Equipment Schedule Of Property, Plant And Equipment 2 | 457 |
Property And Equipment Schedule Of Property, Plant And Equipment 3 | 2,039 |
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 | 4,512 |
Property And Equipment Schedule Of Property, Plant And Equipment 7 | 829 |
Property And Equipment Schedule Of Property, Plant And Equipment 8 | 2,821 |
Property And Equipment Schedule Of Property, Plant And Equipment 9 | 139,948 |
Property And Equipment Schedule Of Property, Plant And Equipment 10 | 70,209 |
Property And Equipment Schedule Of Property, Plant And Equipment 11 | 69,739 |
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 | 50,742 |
Property And Equipment Schedule Of Property, Plant And Equipment 15 | 17,598 |
Property And Equipment Schedule Of Property, Plant And Equipment 16 | 40,380 |
Property And Equipment Schedule Of Property, Plant And Equipment 17 | 216,125 |
Property And Equipment Schedule Of Property, Plant And Equipment 18 | 125,920 |
Property And Equipment Schedule Of Property, Plant And Equipment 19 | 90,205 |
Property And Equipment Schedule Of Property, Plant And Equipment 20 | $ 94,231 |
Schedule of Finite-Lived Intang
Schedule of Finite-Lived Intangible Assets (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Intangible Assets Schedule Of Finite-lived Intangible Assets 1 | $ 58,628 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 2 | 4,051 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 3 | 54,577 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 4 | $ 29,547 |
Finite-lived Intangible Assets
Finite-lived Intangible Assets Amortization Expense (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 1 | $ 3,235 |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 2 | 3,235 |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 3 | 3,235 |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 4 | 3,235 |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 5 | $ 3,235 |
Schedule of Future Minimum Leas
Schedule of Future Minimum Lease Payments for Capital Leases (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 1 | $ 18,222 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 2 | 18,222 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 3 | (897) |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 4 | 17,325 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 5 | (17,325) |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 6 | $ 0 |
Changes in the fair value of th
Changes in the fair value of the Companys Level 3 financial liabilities (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 1 | $ 160,244 |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 2 | 0 |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 3 | 193,424 |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 4 | 0 |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 5 | $ 353,668 |
Change in fair value of derivat
Change in fair value of derivatives (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Derivative Liabilities Change In Fair Value Of Derivatives 1 | $ (35,244) |
Derivative Liabilities Change In Fair Value Of Derivatives 2 | 0 |
Derivative Liabilities Change In Fair Value Of Derivatives 3 | (193,424) |
Derivative Liabilities Change In Fair Value Of Derivatives 4 | 0 |
Derivative Liabilities Change In Fair Value Of Derivatives 5 | (228,668) |
Derivative Liabilities Change In Fair Value Of Derivatives 6 | $ 0 |
Fair value assumptions used in
Fair value assumptions used in fair value calculation (Details) | 12 Months Ended |
May. 31, 2015 | |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 1 | 124.00% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 2 | 0.07% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 3 | 0.00% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 4 | 0.50 |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 5 | 133.00% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 6 | 0.10% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 7 | 0.00% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 8 | 0.21 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) - 12 months ended May. 31, 2015 | USD ($) |
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 | $ 1,183,333 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | 0.69 |
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 | $ 5,258,333 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 10 | 0.44 |
Schedule of Stockholders' Equ53
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) - 12 months ended May. 31, 2015 | USD ($) |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 1 | $ 150,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 2 | 0.60 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 3 | $ 500,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 4 | 0.60 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 5 | $ 333,333 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 6 | 0.80 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 7 | $ 200,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 8 | 0.80 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 9 | $ 4,075,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 10 | 0.37 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 11 | $ 5,258,333 |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) - 12 months ended May. 31, 2015 | USD ($) |
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 | $ 1,350,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 4 | 0.18 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 5 | $ (200,000) |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 6 | 0.10 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 7 | $ (150,000) |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 8 | 0.20 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 9 | $ 1,675,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 10 | 0.20 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 11 | 1.17 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 12 | $ 101,125 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 13 | $ 1,125,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 14 | 0.19 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 15 | 0.97 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 16 | $ 79,125 |
Schedule of Nonvested Share Act
Schedule of Nonvested Share Activity (Details) - 12 months ended May. 31, 2015 | USD ($) |
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 | $ 1,350,000 |
Stock Options Schedule Of Nonvested Share Activity 4 | 0.30 |
Stock Options Schedule Of Nonvested Share Activity 5 | $ (800,000) |
Stock Options Schedule Of Nonvested Share Activity 6 | 0.35 |
Stock Options Schedule Of Nonvested Share Activity 7 | $ 550,000 |
Stock Options Schedule Of Nonvested Share Activity 8 | 0.23 |
Schedule of Disclosure of Share
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) - 12 months ended May. 31, 2015 | USD ($) |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $ 300,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 2 | 0.20 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 3 | $ 175,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 0.20 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 5 | $ 200,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 6 | 0.30 |
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 | 0.10 |
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 | 0.20 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 11 | $ 200,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 12 | 0.20 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 13 | $ 400,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 14 | 0.20 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 15 | $ 1,675,000 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 12 Months Ended |
May. 31, 2015 | |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 0.57% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 0.33% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 1.98 |
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 | 113.00% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 194.00% |
Long-term Purchase Commitment (
Long-term Purchase Commitment (Details) - 12 months ended May. 31, 2015 | USD ($) | CAD |
Commitments And Contingencies Long-term Purchase Commitment 1 | CAD 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 | CAD 50,000 |
Schedule of Future Minimum Le59
Schedule of Future Minimum Lease Payments under Capital Leases (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 1 | $ 2,016 |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 2 | 37,669 |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 3 | 2,017 |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 4 | 2,154 |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 5 | $ 39,823 |
Schedule of Components of Incom
Schedule of Components of Income Tax Expense (Benefit) (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 1 | $ (778,611) |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 2 | (459,938) |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 3 | 239,113 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 4 | 58,557 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 5 | 539,498 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 6 | 401,381 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 7 | 0 |
Income Taxes Schedule Of Components Of Income Tax Expense (benefit) 8 | $ 0 |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Details) | 12 Months Ended |
May. 31, 2015USD ($) | |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 1 | $ 3,435,636 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 2 | 2,896,138 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 3 | (3) |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 4 | 435,636 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 5 | (2,896,138) |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 6 | 0 |
Income Taxes Schedule Of Deferred Tax Assets And Liabilities 7 | $ 0 |