Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Aug. 31, 2015 | Oct. 23, 2015 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Aug. 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 | 73,059,335 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 |
Consolidated balance sheets
Consolidated balance sheets - USD ($) | Aug. 31, 2015 | May. 31, 2015 |
Current assets | ||
Cash | $ 0 | $ 7,446 |
Accounts receivable | 4,770 | 25,527 |
Deferred finance costs | 6,523 | 7,085 |
Prepaid expenses and deposits | 97,259 | 126,146 |
Total current assets | 108,552 | 166,204 |
Deposit | 8,000 | 8,000 |
Restricted cash | 20,208 | 20,734 |
Property and equipment, net | 89,528 | 90,205 |
Intangible assets, net | 54,125 | 54,577 |
Total assets | 280,413 | 339,720 |
Current liabilities | ||
Checks issued in excess of funds on deposit | 13,562 | 0 |
Accounts payable and accrued liabilities | 649,567 | 613,875 |
Due to related parties | 113,517 | 112,193 |
Loans payable (net of discount of $2,930 and $0, respectively) | 231,728 | 190,106 |
Obligations under capital lease | 11,823 | 17,325 |
Convertible debentures (net of discount of $114,435 and $189,520, respectively) | 397,418 | 237,333 |
Derivative liability | 228,323 | 353,668 |
Total current liabilities | 1,645,938 | 1,524,500 |
Obligations under capital lease | 3,931 | 0 |
Total liabilities | 1,649,869 | 1,524,500 |
Mantra Venture Group Ltd. stockholders' 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: 72,383,203 (May 31, 2015 - 71,516,581) shares | 724 | 715 |
Additional paid-in capital | 10,614,270 | 10,462,265 |
Common stock subscribed | 74,742 | 74,742 |
Accumulated deficit | (11,850,639) | (11,529,916) |
Total Mantra Venture Group Ltd. stockholders' deficit | (1,160,903) | (992,194) |
Non-controlling interest | (208,553) | (192,586) |
Total stockholders' equity deficit | (1,369,456) | (1,184,780) |
Total liabilities and stockholders' deficit | $ 280,413 | $ 339,720 |
Consolidated balance sheets (Pa
Consolidated balance sheets (Parenthetical) - USD ($) | Aug. 31, 2015 | May. 31, 2015 |
Discount on Loans Payable | $ 2,930 | $ 0 |
Discount | $ 114,435 | $ 189,520 |
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 | 72,383,203 | 71,516,581 |
Common Stock, Shares, Outstanding | 72,383,203 | 71,516,581 |
Consolidated statements of oper
Consolidated statements of operations - USD ($) | 3 Months Ended | |
Aug. 31, 2015 | Aug. 31, 2014 | |
Revenue | $ 13,638 | $ 55,230 |
Cost of goods sold | 0 | 0 |
Gross profit | 13,638 | 55,230 |
Operating expenses | ||
Business development | 1,022 | 10,225 |
Consulting and advisory | 92,122 | 136,394 |
Depreciation and amortization | 3,431 | 9,984 |
Foreign exchange gain | (727) | (22,546) |
General and administrative | 26,191 | 61,367 |
Management fees | 67,268 | 59,458 |
Professional fees | 25,575 | (2,943) |
Public listing costs | 9,852 | 13,055 |
Rent | 20,948 | 17,984 |
Research and development | 52,322 | 342,435 |
Travel and promotion | 27,132 | 68,221 |
Wages and benefits | 2,430 | 12,917 |
Total operating expenses | 327,566 | 706,551 |
Loss before other income (expense) | (313,928) | (651,321) |
Other income (expense) | ||
Loss on settlement of debt | (24,000) | 0 |
Accretion of discounts on convertible debentures | (181,910) | (8,449) |
Gain on change in fair value of derivatives | 206,696 | 0 |
Interest expense | (23,548) | (9,285) |
Total other income (expense) | (22,762) | (17,734) |
Net loss for the period | (336,690) | (669,055) |
Less: net loss attributable to the non-controlling interest | 15,967 | 16,696 |
Net loss attributable to Mantra Venture Group Ltd. | $ (320,723) | $ (652,359) |
Net loss per share attributable to Mantra Venture Group Ltd. common shareholders, basic and diluted | $ 0 | $ (0.01) |
Weighted average number of shares outstanding used in the calculation of net loss attributable to Mantra Venture Group Ltd. per common share | 72,566,328 | 70,323,401 |
Consolidated statements of cash
Consolidated statements of cash flows - USD ($) | 3 Months Ended | |
Aug. 31, 2015 | Aug. 31, 2014 | |
Operating activities | ||
Net loss | $ (336,690) | $ (669,055) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
(Gain)in fair value of derivative liability | (416,963) | 0 |
Amortization of finance costs | 8,562 | 0 |
Accretion of discounts on convertible debentures | 181,910 | 8,449 |
Depreciation and amortization | 3,431 | 9,984 |
Foreign exchange loss (gain) | (6,586) | 755 |
Initial derivative expenses | 210,267 | 0 |
Shares issued for services | 30,001 | 0 |
Stock-based compensation on options and warrants | 15,610 | 223,091 |
Loss on settlement of debt | 24,000 | 0 |
Changes in operating assets and liabilities: | ||
Amounts receivable | 20,757 | 116,135 |
Prepaid expenses and deposits | 28,887 | 3,165 |
Accounts payable and accrued liabilities | 59,691 | (56,417) |
Due to related parties | 1,324 | (76,295) |
Net cash used in operating activities | (175,799) | (440,188) |
Investing activities | ||
Purchase of property and equipment | 0 | (5,330) |
Investment in intangible assets | (682) | (22,415) |
Net cash used in investing activities | (682) | (27,745) |
Financing activities | ||
Repayment of capital lease obligations | (1,527) | (2,899) |
Repayment of loan payable | 0 | (27,339) |
Proceeds from notes payable | 50,000 | 0 |
Proceeds from issuance of convertible debentures | 100,000 | 0 |
Checks issued in excess of funds on deposit | 13,562 | 0 |
Finance costs | (8,000) | 0 |
Proceeds from issuance of common stock and subscriptions received | 15,000 | 69,999 |
Net cash provided by financing activities | 169,035 | 39,761 |
Change in cash | (7,446) | (428,172) |
Cash, beginning of period | 7,446 | 931,886 |
Cash, end of period | 0 | 503,714 |
Non-cash investing and financing activities: | ||
Common stock issued to relieve common stock subscribed | 0 | 141,649 |
Common stock issued to settle accounts payable | 24,000 | 0 |
Common stock issued for conversion of notes payable | 43,404 | 0 |
Common stock issued for pre-paid asset | 0 | 5,880 |
Original debt discount against derivative liability | 109,755 | 0 |
Supplemental disclosures: | ||
Interest paid | 726 | 942 |
Income taxes paid | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Aug. 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. The accompanying unaudited consolidated interim financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2015. In the opinion of management, the accompanying financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year. These 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 August 31, 2015, the Company has an accumulated loss of $11,850,639, a working capital deficit of $1,537,386 and no cash. 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 | 3 Months Ended |
Aug. 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 August 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 August 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 three month period ended August 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 three months ended August 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 | 3 Months Ended |
Aug. 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 | 3 Months Ended |
Aug. 31, 2015 | |
Property and Equipment [Text Block] | 4. Property and Equipment August 31, May 31, 2015 2015 Accumulated Net carrying Net carrying Cost depreciation value value $ $ $ $ Furniture and equipment 2,496 582 1,914 2,039 Computer 5,341 4,815 526 829 Research equipment 140,631 73,246 67,385 69,739 Vehicles under capital lease 71,283 51,580 19,703 17,598 219,751 130,223 89,528 90,205 |
Intangible Assets
Intangible Assets | 3 Months Ended |
Aug. 31, 2015 | |
Intangible Assets [Text Block] | 5. Intangible Assets August 31, May 31, 2015 2015 Accumulated Net carrying Net carrying Cost amortization value value $ $ $ $ Patents 58,628 4,503 54,125 54,577 Estimated Future Amortization Expense: $ For year ending May 31, 2016 2,426 For year ending May 31, 2017 3,235 For year ending May 31, 2018 3,235 For year ending May 31, 2019 3,235 For year ending May 31, 2020 3,235 |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Aug. 31, 2015 | |
Related Party Transactions [Text Block] | 6. Related Party Transactions a) During the three months ended August 31, 2015, the Company incurred management fees of $35,902 (2014 - $44,628) and rent of $Nil (2014 - $13,500) to the President of the Company. b) During the three months ended August 31, 2015, the Company incurred management fees of $12,298 (2014 - $14,456) to the spouse of the President of the Company. c) During the three months ended August 31, 2015, the Company incurred research and development fees of $17,663 (2014 - $15,080) to a director of the Company. d) The Company recorded $19,068 of management fees for the vesting of options previously granted to officers and directors. e) As at August 31, 2015, the Company owes a total of $95,811 (May 31, 2015 - $93,418) 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. f) As at August 31, 2015, the Company owes $17,706 (May 31, 2015 - $18,775) to an officer and a director of the Company, which is non-interest bearing, unsecured, and due on demand. |
Loans Payable
Loans Payable | 3 Months Ended |
Aug. 31, 2015 | |
Loans Payable [Text Block] | 7. Loans Payable (a) As at August 31, 2015, the amount of $47,845 (Cdn$63,300) (May 31, 2015 - $50,738 (Cdn$63,300)) is owed to a non-related party which is non-interest bearing, unsecured, and due on demand. (b) As at August 31, 2015, the amount of $17,500 (May 31, 2015 - $17,500) is owed to a non-related party which is non-interest bearing, unsecured, and due on demand. (c) As at August 31, 2015, the amount of $15,000 (May 31, 2015 - $15,000) is owed to a non-related party which is non-interest bearing, unsecured, and due on demand. (d) As at August 31, 2015, the amount of $14,307 (Cdn$18,895) (May 31, 2015 -$15,171 (Cdn$18,895)) is owed to a non-related party, which is non-interest bearing, unsecured, and due on demand. (e) As at August 31, 2015, the amounts of $7,500 and $28,016 (Cdn$37,000) (May 31, 2015 - $7,500 and $29,707, (Cdn$37,000)) are owed to a non-related party which are non-interest bearing, unsecured, and due on demand. (f) As at August 31, 2015, the amount of $4,490 (May 31, 2015- $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. (h) 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. Subsequent to the August 31, 2015, the Company repaid $35,000 of the outstanding principal and the note is in default. The rights issued with the note qualified for derivative accounting and under ASC 815-15 “ Derivatives and Hedging |
Obligations Under Capital Lease
Obligations Under Capital Lease | 3 Months Ended |
Aug. 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. In August 2015, the July 31, 2012 lease was renewed for an additional two years. The vehicle leases are classified as a capital leases. The following is a schedule by years of future minimum lease payments under capital leases together with the present value of the net minimum lease payments as of August 31, 2015: Year ending May 31: $ 2016 11,804 2017 4,556 2018 759 Net minimum lease payments 17,119 Less: amount representing interest payments (1,365 ) Present value of net minimum lease payments 15,754 Less: current portion (11,823 ) Long-term portion 3,931 At the end of the leases, the Company has the option to purchase the two vehicles for $1 and $9,000, respectively. |
Convertible Debentures
Convertible Debentures | 3 Months Ended |
Aug. 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 August 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 August 31, 2015, the carrying value of the convertible promissory note was $10,000 and the note remained outstanding and in default. (c) On September 11, 2013, the Company issued a convertible debenture for total proceeds of $58,000, which bears interest at 10% per annum, is unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $58,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $58,000. As at August 31, 2015, the carrying value of the convertible promissory note was $54,862. (d) On October 18, 2013, the Company issued a convertible debenture for total proceeds of $94,000, which bears interest at 10% per annum, is unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $94,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $94,000. As at August 31, 2015, the carrying value of the convertible promissory note was $70,160. (e) On December 27, 2013, the Company issued three convertible debentures for total proceeds of $15,000, which bear interest at 10% per annum, are unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion features of $15,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $15,000. As at August 31, 2015, the carrying value of the convertible promissory note was $11,589. (f) On February 4, 2014, the Company issued a convertible debenture for total proceeds of $15,000, which bears interest at 10% per annum, is unsecured, and due two years from date of issuance. The unpaid amount of principal and accrued interest can be converted at the holder’s option into shares of the Company’s common stock at $0.04 per share at any time after the first anniversary of the notes. The Company recognized the intrinsic value of the embedded beneficial conversion feature of $15,000 as additional paid-in capital and reduced the carrying value of the convertible debenture to $nil. The carrying value will be accreted over the term of the convertible debenture up to its face value of $15,000. As at August 31, 2015, the carrying value of the convertible promissory note was $8,410. (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 (h) 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. The embedded conversion option qualifies for derivative accounting and bifurcation under ASC 815-15 “ Derivatives and Hedging |
Derivative Liabilities
Derivative Liabilities | 3 Months Ended |
Aug. 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, including the convertible note described in Note 9(h) and the rights described in Note 7(h) 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: August 31, 2015 May 31, 2015 Balance at the beginning of period $ 353,668 $ – Addition of new derivative liabilities (embedded conversion options) 320,022 160,244 Conversion of derivative liability (28,404 ) Change in fair value of embedded conversion option (416,963 ) 193,424 Balance at the end of the period $ 228,323 $ 353,668 The following table summarizes the change in fair value of derivatives: August 31, 2015 August 31, 2014 Fair value of derivative liabilities in excess of note proceeds received $ (210,267 ) $ – Change in fair value of derivative liabilities during period 416,963 – Change in fair value of derivatives $ 206,696 $ – The Company uses Level 3 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 Markets), 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 134 - 148% 0.07 - 0.74% 0% 0.50 - 2.00 At August 31, 2015 151 - 208% 0.27 - 0.74% 0% 0.25 - 1.00 |
Common Stock
Common Stock | 3 Months Ended |
Aug. 31, 2015 | |
Common Stock [Text Block] | 11. Common Stock (a) As at August 31, and 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 August 31, and 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 August 31, and 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 three months ended August 31, 2015: (a) On July 1, 2015, the Company issued 150,000 common shares with a fair value of $30,000 pursuant to a consulting agreement. (b) On July 20, 2015, the Company issued 93,750 common shares at $0.16 per share for proceeds of $15,000. (c) On July 22, 2015, the Company issued 300,000 shares to settle $24,000 owed to a creditor. The shares had a fair value of $48,000 and the Company recorded a loss on settlement of debt of $24,000. (d) 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). |
Share Purchase Warrants
Share Purchase Warrants | 3 Months Ended |
Aug. 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, 2015 5,258,333 0.44 Issued 100,000 0.15 Balance, August 31, 2015 5,358,333 0.44 As at August 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 100,000 0.15 August 4, 2017 4,075,000 0.37 April 10, 2019 5,358,333 |
Stock Options
Stock Options | 3 Months Ended |
Aug. 31, 2015 | |
Stock Options [Text Block] | 13. Stock Options During the three months ended August 31, 2015, the Company recorded $15,610 related to the vesting of previously granted stock options. 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, 2015 1,675,000 0.20 Expired (300,000 ) 0.20 Outstanding, August 31, 2015 1,375,000 0.20 1.15 – Exercisable, August 31, 2015 1,025,000 0.19 1.09 – 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, 2015 550,000 0.23 Vested 200,000 0.17 Non-vested at August 31, 2015 350,000 0.23 As at August 31, 2015, there was $10,490 of unrecognized compensation cost related to non-vested stock option agreements. This cost is expected to be recognized over a weighted average period of 0.51 years. Additional information regarding stock options as of August 31, 2015 is as follows: Exercise Number of price options $ Expiry date 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 1,375,000 The fair values for stock options granted have been estimated using the Black-Scholes option pricing model assuming no expected dividends and the following weighted average assumptions: August 31, 2015 August 31, 2014 Risk-free Interest rate – 0.48% Expected life (in years) – 2.00 Expected volatility – 114% During the three month period ended August 31, 2015, the Company recorded stock-based compensation of $Nil (2014 - $193,091) for stock options granted. The weighted average fair value of the stock options granted for the three month period ended August 31, 2014 - $0.47 per option. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Aug. 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 and each successive anniversary Cdn$50,000 (accrued) 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 August 31, 2015: Fiscal year ending May 31: $ 2016 26,733 2017 2,032 28,765 (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. (g) 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. (h) On July 1 2015, 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 per month for the remaining three months. On July 1, 2015, the Company issued 150,000 shares to the consultant. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Aug. 31, 2015 | |
Subsequent Events [Text Block] | 16. Subsequent Events (a) On September 8, 2015, the Company issued a convertible note in the principal amount of $326,087. On September 8, 2015, the Company received the initial tranche of $100,000 net of a $26,087 original issue discount. The note bears interest at 12% per annum and is convertible into common shares of the Company at a 65% discount to the lowest trading price during the previous 20 trading days to the date of conversion; or a 65% discount to the lowest trading price during the previous 20 trading days before the date the note was executed. (b) On September 21, 2015, the Company issued 676,132 shares of common stock upon the conversion of $20,000 of principal of the convertible note described in Note 9(g). |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Aug. 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 August 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 August 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 three month period ended August 31, 2015 and 2014, there were no charges for interest or penalties. |
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 three months ended August 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 Polici22
Significant Accounting Policies (Tables) | 3 Months Ended |
Aug. 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) | 3 Months Ended |
Aug. 31, 2015 | |
Schedule of Property, Plant and Equipment [Table Text Block] | August 31, May 31, 2015 2015 Accumulated Net carrying Net carrying Cost depreciation value value $ $ $ $ Furniture and equipment 2,496 582 1,914 2,039 Computer 5,341 4,815 526 829 Research equipment 140,631 73,246 67,385 69,739 Vehicles under capital lease 71,283 51,580 19,703 17,598 219,751 130,223 89,528 90,205 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 3 Months Ended |
Aug. 31, 2015 | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | August 31, May 31, 2015 2015 Accumulated Net carrying Net carrying Cost amortization value value $ $ $ $ Patents 58,628 4,503 54,125 54,577 |
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | $ For year ending May 31, 2016 2,426 For year ending May 31, 2017 3,235 For year ending May 31, 2018 3,235 For year ending May 31, 2019 3,235 For year ending May 31, 2020 3,235 |
Obligations Under Capital Lea25
Obligations Under Capital Lease (Tables) | 3 Months Ended |
Aug. 31, 2015 | |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Year ending May 31: $ 2016 11,804 2017 4,556 2018 759 Net minimum lease payments 17,119 Less: amount representing interest payments (1,365 ) Present value of net minimum lease payments 15,754 Less: current portion (11,823 ) Long-term portion 3,931 |
Derivative Liabilities (Tables)
Derivative Liabilities (Tables) | 3 Months Ended |
Aug. 31, 2015 | |
Changes in the fair value of the Companys Level 3 financial liabilities [Table Text Block] | August 31, 2015 May 31, 2015 Balance at the beginning of period $ 353,668 $ – Addition of new derivative liabilities (embedded conversion options) 320,022 160,244 Conversion of derivative liability (28,404 ) Change in fair value of embedded conversion option (416,963 ) 193,424 Balance at the end of the period $ 228,323 $ 353,668 |
Change in fair value of derivatives [Table Text Block] | August 31, 2015 August 31, 2014 Fair value of derivative liabilities in excess of note proceeds received $ (210,267 ) $ – Change in fair value of derivative liabilities during period 416,963 – Change in fair value of derivatives $ 206,696 $ – |
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 134 - 148% 0.07 - 0.74% 0% 0.50 - 2.00 At August 31, 2015 151 - 208% 0.27 - 0.74% 0% 0.25 - 1.00 |
Share Purchase Warrants (Tables
Share Purchase Warrants (Tables) | 3 Months Ended |
Aug. 31, 2015 | |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | Weighted average Number of exercise price warrants $ Balance, May 31, 2015 5,258,333 0.44 Issued 100,000 0.15 Balance, August 31, 2015 5,358,333 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 100,000 0.15 August 4, 2017 4,075,000 0.37 April 10, 2019 5,358,333 |
Stock Options (Tables)
Stock Options (Tables) | 3 Months Ended |
Aug. 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, 2015 1,675,000 0.20 Expired (300,000 ) 0.20 Outstanding, August 31, 2015 1,375,000 0.20 1.15 – Exercisable, August 31, 2015 1,025,000 0.19 1.09 – |
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, 2015 550,000 0.23 Vested 200,000 0.17 Non-vested at August 31, 2015 350,000 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 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 1,375,000 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | August 31, 2015 August 31, 2014 Risk-free Interest rate – 0.48% Expected life (in years) – 2.00 Expected volatility – 114% |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Aug. 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 and each successive anniversary Cdn$50,000 (accrued) |
Schedule of Future Minimum Lease Payments under Capital Leases [Table Text Block] | Fiscal year ending May 31: $ 2016 26,733 2017 2,032 28,765 |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Basis Of Presentation 1 | $ 11,850,639 |
Basis Of Presentation 2 | $ 1,537,386 |
Significant Accounting Polici31
Significant Accounting Policies (Narrative) (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Significant Accounting Policies 1 | 64.55% |
Significant Accounting Policies 2 | 88.21% |
Significant Accounting Policies 3 | 10,761,804 |
Significant Accounting Policies 4 | 8,838,205 |
Significant Accounting Policies 5 | $ 228,323 |
Significant Accounting Policies 6 | $ 353,668 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Related Party Transactions 1 | $ 35,902 |
Related Party Transactions 2 | 44,628 |
Related Party Transactions 3 | 0 |
Related Party Transactions 4 | 13,500 |
Related Party Transactions 5 | 12,298 |
Related Party Transactions 6 | 14,456 |
Related Party Transactions 7 | 17,663 |
Related Party Transactions 8 | 15,080 |
Related Party Transactions 9 | 19,068 |
Related Party Transactions 10 | 95,811 |
Related Party Transactions 11 | 93,418 |
Related Party Transactions 12 | 17,706 |
Related Party Transactions 13 | $ 18,775 |
Loans Payable (Narrative) (Deta
Loans Payable (Narrative) (Details) - 3 months ended Aug. 31, 2015 | USD ($)$ / sharesshares | CADshares |
Loans Payable 1 | $ 47,845 | |
Loans Payable 2 | CAD | CAD 63,300 | |
Loans Payable 3 | 50,738 | |
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 | 14,307 | |
Loans Payable 10 | CAD | 18,895 | |
Loans Payable 11 | 15,171 | |
Loans Payable 12 | CAD | 18,895 | |
Loans Payable 13 | 7,500 | |
Loans Payable 14 | 28,016 | |
Loans Payable 15 | CAD | 37,000 | |
Loans Payable 16 | 7,500 | |
Loans Payable 17 | 29,707 | |
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 |
Loans Payable 23 | $ 50,000 | |
Loans Payable 24 | 120.00% | 120.00% |
Loans Payable 25 | 180.00% | 180.00% |
Loans Payable 26 | shares | 100,000 | 100,000 |
Loans Payable 27 | $ / shares | $ 0.15 | |
Loans Payable 28 | $ 35,000 | |
Loans Payable 29 | 9,755 | |
Loans Payable 30 | 9,755 | |
Loans Payable 31 | 6,825 | |
Loans Payable 32 | $ 47,070 |
Obligations Under Capital Lea34
Obligations Under Capital Lease (Narrative) (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Obligations Under Capital Lease 1 | $ 1 |
Obligations Under Capital Lease 2 | $ 9,000 |
Convertible Debentures (Narrati
Convertible Debentures (Narrative) (Details) - 3 months ended Aug. 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 | 10,000 | |
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 | 54,862 | |
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 | 70,160 | |
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 | 11,589 | |
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 | 8,410 | |
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 | 90 | 90 |
Convertible Debentures 72 | 120 | 120 |
Convertible Debentures 73 | 140.00% | 140.00% |
Convertible Debentures 74 | d | 140 | 140 |
Convertible Debentures 75 | 12.00% | 12.00% |
Convertible Debentures 76 | 42.00% | 42.00% |
Convertible Debentures 77 | d | 20 | 20 |
Convertible Debentures 78 | 42.00% | 42.00% |
Convertible Debentures 79 | d | 20 | 20 |
Convertible Debentures 80 | $ 160,244 | |
Convertible Debentures 81 | 125,000 | |
Convertible Debentures 82 | $ 35,244 | |
Convertible Debentures 83 | shares | 322,872 | 322,872 |
Convertible Debentures 84 | $ 15,000 | |
Convertible Debentures 85 | 25,594 | |
Convertible Debentures 86 | 110,000 | |
Convertible Debentures 87 | $ 100,000 | |
Convertible Debentures 88 | 130.00% | 130.00% |
Convertible Debentures 89 | d | 90 | 90 |
Convertible Debentures 90 | 135.00% | 135.00% |
Convertible Debentures 91 | 90 | 90 |
Convertible Debentures 92 | 120 | 120 |
Convertible Debentures 93 | 140.00% | 140.00% |
Convertible Debentures 94 | d | 140 | 140 |
Convertible Debentures 95 | 12.00% | 12.00% |
Convertible Debentures 96 | 42.00% | 42.00% |
Convertible Debentures 97 | d | 20 | 20 |
Convertible Debentures 98 | 42.00% | 42.00% |
Convertible Debentures 99 | d | 20 | 20 |
Convertible Debentures 100 | $ 0.00001 | |
Convertible Debentures 101 | 310,266 | |
Convertible Debentures 102 | 100,000 | |
Convertible Debentures 103 | 210,266 | |
Convertible Debentures 104 | 22,544 | |
Convertible Debentures 105 | $ 22,544 |
Common Stock (Narrative) (Detai
Common Stock (Narrative) (Details) | 3 Months Ended | |
Aug. 31, 2015USD ($)$ / sharesshares | Aug. 31, 2015CADCAD / 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 | 150,000 | 150,000 |
Common Stock 16 | $ 30,000 | |
Common Stock 17 | shares | 93,750 | 93,750 |
Common Stock 18 | $ / shares | $ 0.16 | |
Common Stock 19 | $ 15,000 | |
Common Stock 20 | shares | 300,000 | 300,000 |
Common Stock 21 | $ 24,000 | |
Common Stock 22 | 48,000 | |
Common Stock 23 | $ 24,000 | |
Common Stock 24 | shares | 322,872 | 322,872 |
Common Stock 25 | $ 15,000 |
Stock Options (Narrative) (Deta
Stock Options (Narrative) (Details) | 3 Months Ended |
Aug. 31, 2015USD ($)yr$ / shares | |
Stock Options 1 | $ 15,610 |
Stock Options 2 | $ 10,490 |
Stock Options 3 | yr | 0.51 |
Stock Options 4 | $ 0 |
Stock Options 5 | $ 193,091 |
Stock Options 6 | $ / shares | $ 0.47 |
Commitments and Contingencies38
Commitments and Contingencies (Narrative) (Details) - 3 months ended Aug. 31, 2015 | USD ($)mo$ / shares$ / yr$ / moshares | CADmo$ / yr$ / moshares |
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% |
Commitments And Contingencies 28 | $ / yr | 65,000 | 65,000 |
Commitments And Contingencies 29 | shares | 150,000 | 150,000 |
Commitments And Contingencies 30 | $ / mo | 3,000 | 3,000 |
Commitments And Contingencies 31 | $ / mo | 5,000 | 5,000 |
Commitments And Contingencies 32 | shares | 150,000 | 150,000 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) | 3 Months Ended |
Aug. 31, 2015USD ($)dshares | |
Subsequent Events 1 | $ 326,087 |
Subsequent Events 2 | 100,000 |
Subsequent Events 3 | $ 26,087 |
Subsequent Events 4 | 12.00% |
Subsequent Events 5 | 65.00% |
Subsequent Events 6 | d | 20 |
Subsequent Events 7 | 65.00% |
Subsequent Events 8 | d | 20 |
Subsequent Events 9 | shares | 676,132 |
Subsequent Events 10 | $ 20,000 |
Schedule of Property, Plant and
Schedule of Property, Plant and Equipment (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Property And Equipment Schedule Of Property, Plant And Equipment 1 | $ 2,496 |
Property And Equipment Schedule Of Property, Plant And Equipment 2 | 582 |
Property And Equipment Schedule Of Property, Plant And Equipment 3 | 1,914 |
Property And Equipment Schedule Of Property, Plant And Equipment 4 | 2,039 |
Property And Equipment Schedule Of Property, Plant And Equipment 5 | 5,341 |
Property And Equipment Schedule Of Property, Plant And Equipment 6 | 4,815 |
Property And Equipment Schedule Of Property, Plant And Equipment 7 | 526 |
Property And Equipment Schedule Of Property, Plant And Equipment 8 | 829 |
Property And Equipment Schedule Of Property, Plant And Equipment 9 | 140,631 |
Property And Equipment Schedule Of Property, Plant And Equipment 10 | 73,246 |
Property And Equipment Schedule Of Property, Plant And Equipment 11 | 67,385 |
Property And Equipment Schedule Of Property, Plant And Equipment 12 | 69,739 |
Property And Equipment Schedule Of Property, Plant And Equipment 13 | 71,283 |
Property And Equipment Schedule Of Property, Plant And Equipment 14 | 51,580 |
Property And Equipment Schedule Of Property, Plant And Equipment 15 | 19,703 |
Property And Equipment Schedule Of Property, Plant And Equipment 16 | 17,598 |
Property And Equipment Schedule Of Property, Plant And Equipment 17 | 219,751 |
Property And Equipment Schedule Of Property, Plant And Equipment 18 | 130,223 |
Property And Equipment Schedule Of Property, Plant And Equipment 19 | 89,528 |
Property And Equipment Schedule Of Property, Plant And Equipment 20 | $ 90,205 |
Schedule of Finite-Lived Intang
Schedule of Finite-Lived Intangible Assets (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Intangible Assets Schedule Of Finite-lived Intangible Assets 1 | $ 58,628 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 2 | 4,503 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 3 | 54,125 |
Intangible Assets Schedule Of Finite-lived Intangible Assets 4 | $ 54,577 |
Finite-lived Intangible Assets
Finite-lived Intangible Assets Amortization Expense (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Intangible Assets Finite-lived Intangible Assets Amortization Expense 1 | $ 2,426 |
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) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 1 | $ 2,016 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 2 | 11,804 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 3 | 2,017 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 4 | 4,556 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 5 | 2,018 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 6 | 759 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 7 | 17,119 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 8 | (1,365) |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 9 | 15,754 |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 10 | (11,823) |
Obligations Under Capital Lease Schedule Of Future Minimum Lease Payments For Capital Leases 11 | $ 3,931 |
Changes in the fair value of th
Changes in the fair value of the Companys Level 3 financial liabilities (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 1 | $ 353,668 |
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 | 320,022 |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 4 | 160,244 |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 5 | (28,404) |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 6 | (416,963) |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 7 | 193,424 |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 8 | 228,323 |
Derivative Liabilities Changes In The Fair Value Of The Companys Level 3 Financial Liabilities 9 | $ 353,668 |
Change in fair value of derivat
Change in fair value of derivatives (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Derivative Liabilities Change In Fair Value Of Derivatives 1 | $ (210,267) |
Derivative Liabilities Change In Fair Value Of Derivatives 2 | 0 |
Derivative Liabilities Change In Fair Value Of Derivatives 3 | 416,963 |
Derivative Liabilities Change In Fair Value Of Derivatives 4 | 0 |
Derivative Liabilities Change In Fair Value Of Derivatives 5 | 206,696 |
Derivative Liabilities Change In Fair Value Of Derivatives 6 | $ 0 |
Fair value assumptions used in
Fair value assumptions used in fair value calculation (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 1 | $ 134 |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 2 | 148.00% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 3 | 0.07 |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 4 | 0.74% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 5 | 0.00% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 6 | 0.50 |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 7 | 2 |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 8 | $ 151 |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 9 | 208.00% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 10 | 0.27 |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 11 | 0.74% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 12 | 0.00% |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 13 | 0.25 |
Derivative Liabilities Fair Value Assumptions Used In Fair Value Calculation 14 | 1 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | $ 5,258,333 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | 0.44 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | $ 100,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | 0.15 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | $ 5,358,333 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | 0.44 |
Schedule of Stockholders' Equ48
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
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 | $ 100,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 10 | 0.15 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 11 | $ 4,075,000 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 12 | 0.37 |
Share Purchase Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights 13 | $ 5,358,333 |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 1 | $ 1,675,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 2 | 0.20 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 3 | $ (300,000) |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 4 | 0.20 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 5 | $ 1,375,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 6 | 0.20 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 7 | 1.15 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 8 | $ 0 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 9 | $ 1,025,000 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 10 | 0.19 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 11 | 1.09 |
Stock Options Schedule Of Share-based Compensation, Stock Options, Activity 12 | $ 0 |
Schedule of Nonvested Share Act
Schedule of Nonvested Share Activity (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Stock Options Schedule Of Nonvested Share Activity 1 | $ 550,000 |
Stock Options Schedule Of Nonvested Share Activity 2 | 0.23 |
Stock Options Schedule Of Nonvested Share Activity 3 | $ 200,000 |
Stock Options Schedule Of Nonvested Share Activity 4 | 0.17 |
Stock Options Schedule Of Nonvested Share Activity 5 | $ 350,000 |
Stock Options Schedule Of Nonvested Share Activity 6 | 0.23 |
Schedule of Disclosure of Share
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 1 | $ 175,000 |
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 | $ 200,000 |
Stock Options Schedule Of Disclosure Of Share-based Compensation Arrangements By Share-based Payment Award 4 | 0.30 |
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 | 0.10 |
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 | 0.20 |
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 | $ 400,000 |
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 | $ 1,375,000 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 3 Months Ended |
Aug. 31, 2015USD ($) | |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | $ 0 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 0.48% |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | $ 0 |
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 | $ 0 |
Stock Options Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 114.00% |
Long-term Purchase Commitment (
Long-term Purchase Commitment (Details) - 3 months ended Aug. 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 Le54
Schedule of Future Minimum Lease Payments under Capital Leases (Details) | 3 Months Ended |
Aug. 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 | 26,733 |
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 | 2,032 |
Commitments And Contingencies Schedule Of Future Minimum Lease Payments Under Capital Leases 5 | $ 28,765 |