Maiden Lane Jewelry (MDNL) 10-Q 6 Jan 15 2015 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Nov. 30, 2014	Dec. 31, 2014
Document Information [Line Items]
Entity Registrant Name	Maiden Lane Jewelry, Ltd.
Entity Central Index Key	1574097
Current Fiscal Year End Date	-26
Trading Symbol	MDNL
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	30-Nov-14
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2015
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,476,854

CONDENSED_BALANCE_SHEET

CONDENSED BALANCE SHEET (USD $)	Nov. 30, 2014	31-May-14
Current Assets:
Cash and Cash Equivalents	$1,780	$15,269
Accounts Receivable, Net	3,695,047	1,594,010
Other Receivables	464,529	0
Inventories	2,068,384	2,094,929
Prepaid Expenses	102,452	64,092
Deferred Taxes	162,840	85,840
Total Current Assets	6,495,032	3,854,140
Property and Equipment, Net	14,812	10,051
Security Deposits	2,000	2,000
Total Assets	6,511,844	3,866,191
Current Liabilities:
Accounts Payable	2,970,287	1,895,906
Accrued Expenses	38,100	49,474
Loans Payable - Factor	1,699,247	826,284
Loans Payable - Related Parties	534,632	359,632
Common Stock to be Issued	0	32,871
Income Taxes Payable	67,123	0
Total Current Liabilities	5,309,389	3,164,167
Long-Term Debt:
Notes Payable, net of debt discount of $180,724	249,276	0
Convertible Note Payable - Related Party	74,000	74,000
Total Liabilities	5,632,665	3,238,167
Commitments and Contingencies
Stockholders’ Equity:
Preferred Stock, $.0001 par value; 10,000,000 shares authorized, none issued and outstanding at November 30, 2014 and May 31, 2014	0	0
Common Stock, $.0001 par value; 50,000,000 shares authorized, 10,476,854 and 10,466,250 shares issued and outstanding at November 30, 2014 and May 31, 2014, respectively	1,048	1,047
Additional Paid-In Capital	1,126,982	895,555
Accumulated Deficit	-248,851	-268,578
Total Stockholders’ Equity	879,179	628,024
Total Liabilities and Stockholders’ Equity	$6,511,844	$3,866,191

CONDENSED_BALANCE_SHEET_Parent

CONDENSED BALANCE SHEET (Parenthetical) (USD $)	Nov. 30, 2014	31-May-14
Debt Instrument, Unamortized Discount	$180,724	$180,724
Preferred Stock, par value	$0.00	$0.00
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, par value	$0.00	$0.00
Common Stock, shares authorized	50,000,000	50,000,000
Common Stock, shares issued	10,476,854	10,466,250
Common Stock, shares outstanding	10,476,854	10,466,250

CONDENSED_STATEMENT_OF_OPERATI

CONDENSED STATEMENT OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Sales - Net	$2,735,248	$1,525,577	$4,565,032	$3,816,315
Costs and Expenses:
Cost of Sales	2,030,018	1,192,704	3,541,894	2,817,163
Officer's Compensation	137,151	6,001	228,521	78,556
Professional and Consulting Fees	190,593	155,530	358,595	351,167
Selling, General and Administrative Expenses	166,937	166,175	320,268	378,081
Provision for Bad Debts	2,779	0	2,779	0
Total Costs and Expenses	2,527,478	1,520,410	4,452,057	3,624,967
Income from Operations	207,770	5,167	112,975	191,348
Other Income (Expense):
Interest Expense - Related Party	-746	-740	-1,484	-1,480
Interest Expense - Notes Payable	-11,759	0	-12,912	0
Interest Expense - Accounts Receivable Financings	-37,238	-13,470	-65,519	-13,470
Amortization of Debt Discount	-16,144	0	-17,833	0
Total Other Income and (Expenses)	-65,887	-14,210	-97,748	-14,950
Income (Loss) before Income Tax Provision (Benefit)	141,883	-9,043	15,227	176,398
Income Tax Provision (Benefit)	37,500	3,700	-4,500	62,900
Net Income (Loss)	$104,383	($12,743)	$19,727	$113,498
Income (Loss) Per Common Share - Basic	$0.01	$0	$0	$0.01
Basic Weighted Average Shares	10,476,854	10,368,173	10,473,145	10,360,922
Income (Loss) Per Common Share - Diluted	$0.01	$0	$0	$0.01
Diluted Weighted Average Shares	10,513,854	10,368,173	10,510,145	10,397,922

CONDENSED_STATEMENT_OF_STOCKHO

CONDENSED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning balance at May. 31, 2014	$628,024	$1,047	$895,555	($268,578)
Beginning balance, Shares at May. 31, 2014		10,466,250
Issuance of Common Stock for services	32,871	1	32,870	0
Issuance of Common Stock for services (in shares)		10,604
Debt Discount on Notes Payable	198,557	0	198,557	0
Net Income for the six months ended November 30, 2014	19,727	0	0	19,727
Ending balance at Nov. 30, 2014	$879,179	$1,048	$1,126,982	($248,851)
Ending balance, Shares at Nov. 30, 2014		10,476,854

CONDENSED_STATEMENT_OF_CASH_FL

CONDENSED STATEMENT OF CASH FLOWS (USD $)	6 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Cash Flows from Operating Activities:
Net Income	$19,727	$113,498
Adjustments to Reconcile Net Income (Loss) to Net Cash (Used) in Operating Activities:
Depreciation	2,270	1,603
Amortization of Note Discount	17,833	0
Common Stock Issued for Services	0	175,000
Deferred Taxes	-77,000	0
Reserve for Doubtful Accounts and Sales Returns and Allowances	106,726	1,824
Changes in Assets and Liabilities:
(Increase) in Accounts Receivable	-2,207,762	-1,965,228
(Increase) in Other Receivables	-464,529	0
Decrease in Inventories	26,545	239,160
(Increase) Decrease in Prepaid Expenses	-38,360	24,391
Increase in Accounts Payable	1,074,381	204,476
(Decrease) in Accrued Expenses	-11,374	-21,122
Increase in Income Taxes Payable	67,123	42,143
Net Cash (Used) in Operating Activities	-1,484,420	-1,184,255
Cash Flows from Investing Activities:
Capital Expenditures	-7,032	-1,150
Net Cash (Used) In Investing Activities	-7,032	-1,150
Cash Flows from Financing Activities:
Payments of Offering Costs	0	-15,000
Proceeds of Note Issuance	430,000	0
Proceeds of Loans Payable - Related Parties	636,000	354,632
Payments of Loans Payable - Related Parties	-461,000	-145,000
Proceeds from Loans Payable - Factor	3,316,799	978,480
Repayments to Loans Payable - Factor	-2,443,836	0
Net Cash Provided In Financing Activities	1,477,963	1,173,112
(Decrease) in Cash and Cash Equivalents	-13,489	-12,293
Cash and Cash Equivalents - Beginning of Period	15,269	39,086
Cash and Cash Equivalents - End of Period	1,780	26,793
Supplemental Disclosure of Cash Flow Information:
Interest Paid	62,256	7,309
Income Taxes Paid	0	25,850
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Debt Discount on Notes Payable	198,557	0
Issuance of 10,604 shares of Common Stock as consideration for payment of obligation to issue common stock	$32,871	$0

CONDENSED_STATEMENT_OF_CASH_FL1

CONDENSED STATEMENT OF CASH FLOWS (Parenthetical) (Common Stock [Member])	6 Months Ended
	Nov. 30, 2014
Common Stock [Member]
Stock Issued During Period, Shares, Issued for Services	10,604

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Nov. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	NOTE 1 - Summary of Significant Accounting Policies
	Organization and Basis of Presentation
	Maiden Lane Jewelry, Ltd., formerly Romantique Ltd., (“the Company”) was incorporated on September 6, 2012 under the laws of the State of New York.  The Company is a wholesaler and manufacturer of jewelry including pendants, bracelets and earrings.  We began operations on October 1, 2012 by selling fashion rings, pendants, earrings and bracelets to independent retailers. In December 2012, we commenced a line of bridal (engagement) rings, featuring both settings and diamonds. In February 2014 we began focusing on sales of bridal jewelry featuring uniquely cut stones which in May 2014 we branded as an AspiriTM cut diamond.
	In the opinion of the Company’s management, the accompanying unaudited condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the information set forth therein.  These financial statements are condensed and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.  These condensed financial statements should be read in conjunction with the Company’s May 31, 2014 audited financial statements and notes included in Form 10-K filed on September 4, 2014.
	Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.
	Cash and Cash Equivalents
	The Company considers all highly-liquid investments purchased with a maturity of three months or less to be cash equivalents.  As of November 30, 2014 and May 31, 2014, the Company did not have any cash equivalents.
	Inventories
	Raw materials are stated at the lower of cost or market, with cost determined by specific identification for unique items (such as diamond stones, each with a particular carat weight, color, clarity and cut) and using the first-in, first-out method for generic items or styles (certain semi-mounts and fashion jewelry). Finished goods which we fabricate are stated at the lower of cost or market, with cost determined by specific identification for each component making up the item plus direct labor and other fees (primarily diamond certification).
	Property and Equipment
	Property and equipment is carried at cost less accumulated depreciation.  Depreciation is computed by the straight-line method over the estimated useful lives of the related assets, which is generally five years.
	Revenue Recognition
	For revenue from product sales, the Company recognizes revenue in accordance with Staff Accounting Bulletin No. 104, “Revenue Recognition” (SAB No. 104), which superseded Staff Accounting Bulletin No. 101, “Revenue Recognition in Financial Statements” (SAB No. 101).  SAB No. 104 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured.  Determination of criteria (3) and (4) are based on management’s judgment regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts.  Provisions for discounts and rebates to customers, estimated returns and allowance, and other adjustments are provided for in the same period the related sales are recorded. Provision for sales returns and allowances that were netted against sales amounted to $43,000 and $30,000 for the six months ended November 30, 2014 and November 30, 2013, respectively.
	Concentration of Credit Risks
	The Company primarily sells its products to retail jewelers focused on mid-to-high end consumers. Customers typically receive payment terms of ratable monthly payments over 90 to 120 days with exceptions based on credit quality or other terms and conditions.  As a result, the Company is exposed to credit risk on its accounts receivable. The Company generally seeks to mitigate such risk by performing credit checks through jeweler trade associations it is a members of, by attending trade shows which selectively invite retailer attendees based on their credit worthiness and by checking references with other jewelers in the industry.
	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains cash balances at financial institutions which exceed the current Federal Deposit Insurance Corporation (“FDIC”) limit of $250,000 at times during the year.
	Sales
	The Company’s sales are comprised of primarily three major products: Aspiri Cut Rings, Complete Rings and Fashion Jewelry. The Company may also on occasion sell loose stone inventory.
	A breakdown of sales for the three and six months ended November 30, 2014 and November 30, 2013, respectively:
		Three Months Ended November 30,								Six Months Ended November 30,
			2014				2013				2014			2013
			(unaudited)				(unaudited)				(unaudited)			(unaudited)
	AspiriTM Cut Rings			51	%			—	%			46	%		—	%
	Complete Rings (not Aspiri)			29				53				35			67
	Fashion Jewelry & Other			20				47				19			33
	The three and six months ended November 30, 2014 had returns of Complete Rings that were not Aspiri Cut Rings as some customers substituted such rings for Aspiri Cut Rings.
	Advertising Costs
	Advertising and show costs are charged to operations when incurred.  Advertising costs during the six months ended November 30, 2014 and November 30, 2013 were $101,000 and $39,000, respectively.
	Deferred Income Taxes
	The Company accounts for deferred income taxes using the asset and liability method, the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting and the tax bases of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled.  A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	Net Income (Loss) Per Share
	Basic earnings (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding.
	The following provides a reconciliation of the shares used in calculating the per share amounts for the periods presented:
			Three Months Ended November 30,						Six Months Ended November 30,
			2014			2013			2014			2013
			(unaudited)			(unaudited)			(unaudited)			(unaudited)
	Numerator:
	Net Income (Loss)		$	104,383		$	-12,743		$	19,727		$	113,498
	Interest on Convertible Notes			746			740			1,484			1,480
	Net Income (Loss)		$	105,129		$	-12,003		$	21,211		$	114,978
	Denominator:
	Basic weighted-average shares			10,476,854			10,368,173			10,473,145			10,360,922
	Effective of dilutive securities:
	Warrants1			—	2		—			—	2		—
	Convertible Debt3			37,000			—	4		37,000			37,000
	Diluted weighted-average shares			10,513,854			10,368,173			10,510,145			10,397,922
	Per Share Income (Loss):
	Basic		$	0.01		$	0		$	0.00)		$	0.01
	Diluted		$	0.01		$	0		$	0		$	0.01
		1	There are 122,550 warrants issued in connection with 430,000 of unsecured notes at an exercise price of $3.50 per warrant into one share of common stock.
		2	Warrants for the three and six months ended November 30, 2014 are not included in the computation of diluted weighted average shares as they are not dilutive under the treasury stock method of accounting.
		3	Convertible debt is convertible into 37,000 shares of common stock.
		4	Convertible debt for the three months ended November 30, 2013 is not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.
	Accounting Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.  Actual results could differ from those estimates.  Management uses its best judgment in valuing these estimates, and may, as warranted, solicit external professional advice and other assumptions believed to be reasonable.
	Fair Value Measurements
	The authoritative guidance for fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or the most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.  Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact.  The guidance describes a fair value hierarchy based on the levels of inputs, or which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:
	Level 1:  Quoted prices in active markets for identical assets or liabilities.
	Level 2:  Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active, or other inputs that are observable or corroborated by observable market data or substantially the full term of the assets or liabilities.
	Level 3:  Unobservable inputs that are supported by little or no market activity and that are significant to the value of the assets or liabilities.
	The Company's financial instruments include cash and cash equivalents, accounts receivable, accounts payable and loans and notes payable.  These items are determined to be a Level 1 fair value measurement.
	The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and loans payable approximates fair value because of the short maturity of these instruments.  The recorded value of long-term debt approximates its fair value as the terms and rates approximate market rates.
	Recent Accounting Pronouncements
	Management does not believe there would have been a material effect on the accompanying financial statements had any recently issued, but not yet effective, accounting standards been adopted in the current period.

Inventories

Inventories	6 Months Ended
	Nov. 30, 2014
Inventory Disclosure [Abstract]
Inventories	NOTE 2 -  Inventories
	Inventories consist of the following:
		November 30, 2014		May 31, 2014
		(unaudited)
	Raw Materials	$	1,151,273	$	257,598
	Finished Goods		917,111		1,837,331
	Total Inventory	$	2,068,384	$	2,094,929
	Inventories are pledged as security for the Company’s Accounts Receivable Financing Agreement (see Note 8).

Property_and_Equipment

Property and Equipment	6 Months Ended
	Nov. 30, 2014
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 3 -  Property and Equipment
	Property and equipment consists of the following:
		November 30,
		2014		May 31, 2014
		(unaudited)
	Office Equipment	$	15,493	$	9,271
	Computers		5,617		4,808
			21,110		14,079
	Less:  Accumulated Depreciation		6,298		4,028
		$	14,812	$	10,051
	Depreciation expense was approximately $2,300 and $1,600 for the six months ended November 30, 2014 and November 30, 2013, respectively.

Other_Receivables

Other Receivables	6 Months Ended
	Nov. 30, 2014
Receivables [Abstract]
Other Receivables	NOTE 4 -  Other Receivables
	Other receivables represent amounts returned to our diamond vendor in order to reduce older inventory on select generic diamonds that were not conducive to our current production of Aspiri cut diamond engagement rings. The Company does not expect to realize a loss on the sale of these components.

Convertible_Note_Payable_Relat

Convertible Note Payable - Related Party	6 Months Ended
	Nov. 30, 2014
Debt Disclosure [Abstract]
Convertible Note Payable - Related Party	NOTE 5 -  Convertible Note Payable – Related Party
	Convertible note payable to the Company’s president is summarized as follows:
		November 30,
		2014		May 31, 2014
		(unaudited)
	Note Payable, bearing interest at 4% per annum, and due December 31, 2015. The note is Convertible into shares of the Company’s Common stock at a conversion rate of $2 per share, subject to adjustment upon the occurrence of certain events including stock dividends, stock split or combinations and reclassifications.	$	74,000	$	74,000

Loans_Payable_Related_Parties

Loans Payable - Related Parties	6 Months Ended
	Nov. 30, 2014
Debt Disclosure [Abstract]
Loans Payable - Related Parties	NOTE 6 -  Loans Payable – Related Parties
	Loans payable to related parties is summarized as follows:
		November 30,
		2014		May 31, 2014
		(unaudited)
	Loans payable to the Company’s President and CEO. The loans are payable on demand and non-interest bearing, and are subordinated to the factor.	$	534,632	$	359,632
	A portion of this loan in the amount of $210,000 is subordinated to the factor.

Unsecured_Notes_Payable

Unsecured Notes Payable	6 Months Ended
	Nov. 30, 2014
Payables and Accruals [Abstract]
Unsecured Notes Payable	NOTE 7 -  Unsecured Notes Payable
	On August 18, 2014 and August 25, 2014 the Company issued $250,000 and $150,000, respectively, of unsecured, subordinated notes bearing 11% interest with 285 detachable and freely transferable warrants per $1,000 face value Note.  The notes are due on the second anniversary of their issue date with warrants exercisable within ten years from their issue date at an exercise price of $3.50. The notes issued on August 25, 2014 are to an entity controlled by the brother of the Company’s president.
	On September 15, 2014 the Company issued $30,000, of unsecured, subordinated notes bearing 11% interest with 285 detachable and freely transferable warrants per $1,000 face value Note.  The notes are due on the second anniversary of their issue date with warrants exercisable within ten years from their issue date at an exercise price of $3.50.
	Pursuant to ASC 470-20, the Company recorded the value of the warrants using the Black-Scholes method, which was determined to be approximately $369,000. A portion of the debt proceeds was allocated to the warrants as debt discount using the relative fair value method, which approximated $199,000. As the warrants contain fixed settlement provisions and the exercise price cannot be adjusted, the Company recorded the fair value of the warrants as additional paid in capital with a corresponding debt discount which will be amortized over the two-year term of the notes using the interest method. For the three and six months ended November 30, 2014, the Company recognized respectively $16,144 and $17,833 in amortization expense relating to these warrants.
		November 30,
		2014			May 31, 2014
		(unaudited)
	Notes Payable, Par	$	430,000		$	—
	Initial Debt Discount		-198,557			—
	Accumulated Amortization		17,833			—
	Notes Payable, Net	$	249,276		$	—
	The fair value of the warrants on the issuance date was calculated using the Black Scholes method with the following weighted average assumptions:
	Dividend yield		0	%
	Volatility		310.78	%
	Risk-free interest rate		2.4	%
	Expected life (months)		120
	Grant date price per share	$	3.01
	Warrants issued		122,550
	Aggregate grant date fair value	$	369,000

Financing_Agreement

Financing Agreement	6 Months Ended
	Nov. 30, 2014
Payables and Accruals [Abstract]
Financing Agreement	NOTE 8 -  Financing Agreement
	On September 30, 2013 the Company entered into an Account Receivable Financing Agreement with Rosenthal & Rosenthal, Inc. (“Rosenthal”) pursuant to which Rosenthal shall provide the Company with a line of credit up to $1,000,000.  On October 6, 2014, this Accounts Receivable Financing Agreement was amended to increase the line of credit up to a maximum of $2,000,000. Loans made under the Accounts Receivable Financing Agreement bear interest at prime rate plus 3.5% (for an effective average rate of 7.5% for the three and six months ended November 30, 2014) and are subject to certain financial covenants.  As security for these loans, Rosenthal has placed liens on the Company’s accounts receivable, inventories, and all other assets.  In addition, the loans have been personally guaranteed by Yitzchok Gurary, and his parents, Mordechai Gurary and Leah Gurary. In addition, the Company has granted Rosenthal a Landlord Subordination agreement.
	The Accounts Receivable Financing Agreement calls for the subordination of certain of the Company’s debt as follows:
	Accounts Payable – Classique Creations, LLC	$	500,000
	Demand Loans Payable – Yitzchok Gurary	$	210,000
	In connection with the Accounts Receivable Finance Agreement, the Company has borrowed approximately $1.7 million net as of November 30, 2014.  Total draws and repayments for the six and three months ended November 30, 2014 totaled approximately $3.3 million and $1.6 million, respectively. The Accounts Receivable Financing Agreement expires September 30, 2015.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Nov. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 -  Commitments and Contingencies
	None.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Nov. 30, 2014
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 10 -  Related Party Transactions
	On October 1, 2012 and revised on March 1, 2014 the Company entered into a one-year consulting agreement with Isaac Gurary, under which he was to provide certain business and corporate marketing services to the Company for an annual consulting fee of 3% of certain net sales during the term of the agreement. The agreement automatically renews quarterly. As of November 30, 2014 the amount owed to Mr. Gurary was approximately $172,000.  In December 2014, such amounts were paid in full to Mr. Gurary. As of May 31, 2014, the Company had recorded accrued compensation to Mr. Gurary in the amount of approximately $104,000.  These amounts are included in accounts payable and accrued expenses respectively at November 30, 2014 and May 31, 2014, respectively.  Mr. Gurary serves as the Company’s President and is a significant stockholder of the Company.
	During the six months ended November 30, 2014 and November 30, 2013, the Company purchased approximately 26% and 59%, respectively, of its merchandise from Classique Creations LLC (“Classique”), a company that is owned by the mother of the Company’s President.
	Included in accounts payable at November 30, 2014 and May 31, 2014 are amounts owed to Classique totaling approximately $1.9 million and $1.5 million, respectively. Payment terms to Classique are one to twelve months and the manner of settlement is cash payment. Pursuant to the Accounts Receivable Financing Agreement (See Note 8), accounts payable to Classique totaling $500,000 are subordinated to the finance company.
	The Company rents office space from a Company affiliated with the Company’s president on a month to month basis.  The agreement calls for rent at $2,060 per month.  Rent expense was approximately $13,000 and $14,000 for the six months ended November 30, 2014 and November 30, 2013, respectively.

Stockholders_Equity

Stockholders' Equity	6 Months Ended
	Nov. 30, 2014
Equity [Abstract]
Stockholders' Equity	NOTE 11 -  Stockholders’ Equity
	On August 4, 2014 the Company issued 10,604 shares of common stock at a price per share of $3.10 for marketing services rendered during the year ended May 31, 2014.
	In connection with the issuance of $430,000 principal notes payable (see Note 7), the Company issued 122,550 common stock purchase warrants. Such warrants have an exercise price of $3.50 per share and expire between August and September 2024. As of November 30, 2014, all common stock purchase warrants remained outstanding and exercisable with a weighted average exercise price of $3.50 per share and a remaining contractual life of 9.7 years.

Major_Suppliers_and_Customers

Major Suppliers and Customers	6 Months Ended
	Nov. 30, 2014
Major Suppliers And Customers [Abstract]
Major Suppliers	NOTE 12 -  Major Suppliers and Customers
	During the six months ended November 30, 2014 and November 30, 2013, the Company purchased approximately $1.3 million (approximately 26%) and $1.6 million (approximately 59%), respectively, of its merchandise from one manufacturer that is a related party (see Note 10).
	In addition, the Company purchased merchandise from one vendor which amounted to approximately 56% of total purchases during the six months ended November 30, 2014.
	Our three largest customers frequently vary from period to period. For the three and six months ended November 30, 2014, our three largest customers accounted for approximately 15% and 19% of our total revenues, respectively. For the three and six months ended November 30, 2013, our three largest customers accounted for approximately 25% and 13% of our total revenues, respectively.

Income_Taxes

Income Taxes	6 Months Ended
	Nov. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 13 -  Income Taxes
	Our effective tax rates were approximately (30%) and 36% for the six months ended November 30, 2014 and 2013, respectively.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Nov. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation
	Maiden Lane Jewelry, Ltd., formerly Romantique Ltd., (“the Company”) was incorporated on September 6, 2012 under the laws of the State of New York.  The Company is a wholesaler and manufacturer of jewelry including pendants, bracelets and earrings.  We began operations on October 1, 2012 by selling fashion rings, pendants, earrings and bracelets to independent retailers. In December 2012, we commenced a line of bridal (engagement) rings, featuring both settings and diamonds. In February 2014 we began focusing on sales of bridal jewelry featuring uniquely cut stones which in May 2014 we branded as an AspiriTM cut diamond.
	In the opinion of the Company’s management, the accompanying unaudited condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the information set forth therein.  These financial statements are condensed and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.  These condensed financial statements should be read in conjunction with the Company’s May 31, 2014 audited financial statements and notes included in Form 10-K filed on September 4, 2014.
	Results of operations for interim periods are not necessarily indicative of the results of operations for a full year.
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all highly-liquid investments purchased with a maturity of three months or less to be cash equivalents.  As of November 30, 2014 and May 31, 2014, the Company did not have any cash equivalents.
Inventories	Inventories
	Raw materials are stated at the lower of cost or market, with cost determined by specific identification for unique items (such as diamond stones, each with a particular carat weight, color, clarity and cut) and using the first-in, first-out method for generic items or styles (certain semi-mounts and fashion jewelry). Finished goods which we fabricate are stated at the lower of cost or market, with cost determined by specific identification for each component making up the item plus direct labor and other fees (primarily diamond certification).
Property and Equipment	Property and Equipment
	Property and equipment is carried at cost less accumulated depreciation.  Depreciation is computed by the straight-line method over the estimated useful lives of the related assets, which is generally five years.
Revenue Recognition	Revenue Recognition
	For revenue from product sales, the Company recognizes revenue in accordance with Staff Accounting Bulletin No. 104, “Revenue Recognition” (SAB No. 104), which superseded Staff Accounting Bulletin No. 101, “Revenue Recognition in Financial Statements” (SAB No. 101).  SAB No. 104 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured.  Determination of criteria (3) and (4) are based on management’s judgment regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts.  Provisions for discounts and rebates to customers, estimated returns and allowance, and other adjustments are provided for in the same period the related sales are recorded. Provision for sales returns and allowances that were netted against sales amounted to $43,000 and $30,000 for the six months ended November 30, 2014 and November 30, 2013, respectively.
Concentration of Credit Risks	Concentration of Credit Risks
	The Company primarily sells its products to retail jewelers focused on mid-to-high end consumers. Customers typically receive payment terms of ratable monthly payments over 90 to 120 days with exceptions based on credit quality or other terms and conditions.  As a result, the Company is exposed to credit risk on its accounts receivable. The Company generally seeks to mitigate such risk by performing credit checks through jeweler trade associations it is a members of, by attending trade shows which selectively invite retailer attendees based on their credit worthiness and by checking references with other jewelers in the industry.
	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents. The Company maintains cash balances at financial institutions which exceed the current Federal Deposit Insurance Corporation (“FDIC”) limit of $250,000 at times during the year.
Sales	Sales
	The Company’s sales are comprised of primarily three major products: Aspiri Cut Rings, Complete Rings and Fashion Jewelry. The Company may also on occasion sell loose stone inventory.
	A breakdown of sales for the three and six months ended November 30, 2014 and November 30, 2013, respectively:
		Three Months Ended November 30,								Six Months Ended November 30,
			2014				2013				2014			2013
			(unaudited)				(unaudited)				(unaudited)			(unaudited)
	AspiriTM Cut Rings			51	%			—	%			46	%		—	%
	Complete Rings (not Aspiri)			29				53				35			67
	Fashion Jewelry & Other			20				47				19			33
	The three and six months ended November 30, 2014 had returns of Complete Rings that were not Aspiri Cut Rings as some customers substituted such rings for Aspiri Cut Rings.
Advertising Costs	Advertising Costs
	Advertising and show costs are charged to operations when incurred.  Advertising costs during the six months ended November 30, 2014 and November 30, 2013 were $101,000 and $39,000, respectively.
Deferred Income Taxes	Deferred Income Taxes
	The Company accounts for deferred income taxes using the asset and liability method, the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting and the tax bases of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled.  A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Net Income (Loss) Per Share	Net Income (Loss) Per Share
	Basic earnings (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding.
	The following provides a reconciliation of the shares used in calculating the per share amounts for the periods presented:
			Three Months Ended November 30,						Six Months Ended November 30,
			2014			2013			2014			2013
			(unaudited)			(unaudited)			(unaudited)			(unaudited)
	Numerator:
	Net Income (Loss)		$	104,383		$	-12,743		$	19,727		$	113,498
	Interest on Convertible Notes			746			740			1,484			1,480
	Net Income (Loss)		$	105,129		$	-12,003		$	21,211		$	114,978
	Denominator:
	Basic weighted-average shares			10,476,854			10,368,173			10,473,145			10,360,922
	Effective of dilutive securities:
	Warrants1			—	2		—			—	2		—
	Convertible Debt3			37,000			—	4		37,000			37,000
	Diluted weighted-average shares			10,513,854			10,368,173			10,510,145			10,397,922
	Per Share Income (Loss):
	Basic		$	0.01		$	0		$	0.00)		$	0.01
	Diluted		$	0.01		$	0		$	0		$	0.01
		1	There are 122,550 warrants issued in connection with 430,000 of unsecured notes at an exercise price of $3.50 per warrant into one share of common stock.
		2	Warrants for the three and six months ended November 30, 2014 are not included in the computation of diluted weighted average shares as they are not dilutive under the treasury stock method of accounting.
		3	Convertible debt is convertible into 37,000 shares of common stock.
		4	Convertible debt for the three months ended November 30, 2013 is not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.
Accounting Estimates	Accounting Estimates
	The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reported period.  Actual results could differ from those estimates.  Management uses its best judgment in valuing these estimates, and may, as warranted, solicit external professional advice and other assumptions believed to be reasonable.
Fair Value Measurements	Fair Value Measurements
	The authoritative guidance for fair value measurements defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or the most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.  Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact.  The guidance describes a fair value hierarchy based on the levels of inputs, or which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:
	Level 1:  Quoted prices in active markets for identical assets or liabilities.
	Level 2:  Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active, or other inputs that are observable or corroborated by observable market data or substantially the full term of the assets or liabilities.
	Level 3:  Unobservable inputs that are supported by little or no market activity and that are significant to the value of the assets or liabilities.
	The Company's financial instruments include cash and cash equivalents, accounts receivable, accounts payable and loans and notes payable.  These items are determined to be a Level 1 fair value measurement.
	The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and loans payable approximates fair value because of the short maturity of these instruments.  The recorded value of long-term debt approximates its fair value as the terms and rates approximate market rates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	Management does not believe there would have been a material effect on the accompanying financial statements had any recently issued, but not yet effective, accounting standards been adopted in the current period.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Nov. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reconciliation of Revenue from Segments to Consolidated	A breakdown of sales for the three and six months ended November 30, 2014 and November 30, 2013, respectively:
		Three Months Ended November 30,								Six Months Ended November 30,
			2014				2013				2014			2013
			(unaudited)				(unaudited)				(unaudited)			(unaudited)
	AspiriTM Cut Rings			51	%			—	%			46	%		—	%
	Complete Rings (not Aspiri)			29				53				35			67
	Fashion Jewelry & Other			20				47				19			33
Schedule of reconciliation of the shares used in calculating the per share amounts	The following provides a reconciliation of the shares used in calculating the per share amounts for the periods presented:
			Three Months Ended November 30,						Six Months Ended November 30,
			2014			2013			2014			2013
			(unaudited)			(unaudited)			(unaudited)			(unaudited)
	Numerator:
	Net Income (Loss)		$	104,383		$	-12,743		$	19,727		$	113,498
	Interest on Convertible Notes			746			740			1,484			1,480
	Net Income (Loss)		$	105,129		$	-12,003		$	21,211		$	114,978
	Denominator:
	Basic weighted-average shares			10,476,854			10,368,173			10,473,145			10,360,922
	Effective of dilutive securities:
	Warrants1			—	2		—			—	2		—
	Convertible Debt3			37,000			—	4		37,000			37,000
	Diluted weighted-average shares			10,513,854			10,368,173			10,510,145			10,397,922
	Per Share Income (Loss):
	Basic		$	0.01		$	0		$	0.00)		$	0.01
	Diluted		$	0.01		$	0		$	0		$	0.01
		1	There are 122,550 warrants issued in connection with 430,000 of unsecured notes at an exercise price of $3.50 per warrant into one share of common stock.
		2	Warrants for the three and six months ended November 30, 2014 are not included in the computation of diluted weighted average shares as they are not dilutive under the treasury stock method of accounting.
		3	Convertible debt is convertible into 37,000 shares of common stock.
		4	Convertible debt for the three months ended November 30, 2013 is not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Nov. 30, 2014
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following:
		November 30, 2014		May 31, 2014
		(unaudited)
	Raw Materials	$	1,151,273	$	257,598
	Finished Goods		917,111		1,837,331
	Total Inventory	$	2,068,384	$	2,094,929

Property_and_Equipment_Tables

Property and Equipment (Tables)	6 Months Ended
	Nov. 30, 2014
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consists of the following:
		November 30,
		2014		May 31, 2014
		(unaudited)
	Office Equipment	$	15,493	$	9,271
	Computers		5,617		4,808
			21,110		14,079
	Less:  Accumulated Depreciation		6,298		4,028
		$	14,812	$	10,051

Convertible_Note_Payable_Relat1

Convertible Note Payable - Related Party (Tables)	6 Months Ended
	Nov. 30, 2014
Debt Disclosure [Abstract]
Schedule of Convertible note payable	Convertible note payable to the Company’s president is summarized as follows:
		November 30,
		2014		May 31, 2014
		(unaudited)
	Note Payable, bearing interest at 4% per annum, and due December 31, 2015. The note is Convertible into shares of the Company’s Common stock at a conversion rate of $2 per share, subject to adjustment upon the occurrence of certain events including stock dividends, stock split or combinations and reclassifications.	$	74,000	$	74,000

Loans_Payable_Related_Parties_

Loans Payable - Related Parties (Tables)	6 Months Ended
	Nov. 30, 2014
Loans Payable [Abstract]
Schedule of Loans Payable Related Party	Loans payable to related parties is summarized as follows:
		November 30,
		2014		May 31, 2014
		(unaudited)
	Loans payable to the Company’s President and CEO. The loans are payable on demand and non-interest bearing, and are subordinated to the factor.	$	534,632	$	359,632

Unsecured_Notes_Payable_Tables

Unsecured Notes Payable (Tables)	6 Months Ended
	Nov. 30, 2014
Payables and Accruals [Abstract]
Schedule of Notes Payable	For the three and six months ended November 30, 2014, the Company recognized respectively $16,144 and $17,833 in amortization expense relating to these warrants.
		November 30,
		2014			May 31, 2014
		(unaudited)
	Notes Payable, Par	$	430,000		$	—
	Initial Debt Discount		-198,557			—
	Accumulated Amortization		17,833			—
	Notes Payable, Net	$	249,276		$	—
Schedule of Fair Value of the Warrants on the Issuance Date	The fair value of the warrants on the issuance date was calculated using the Black Scholes method with the following weighted average assumptions:
	Dividend yield		0	%
	Volatility		310.78	%
	Risk-free interest rate		2.4	%
	Expected life (months)		120
	Grant date price per share	$	3.01
	Warrants issued		122,550
	Aggregate grant date fair value	$	369,000

Financing_Agreement_Tables

Financing Agreement (Tables)	6 Months Ended
	Nov. 30, 2014
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	The Accounts Receivable Financing Agreement calls for the subordination of certain of the Company’s debt as follows:
	Accounts Payable – Classique Creations, LLC	$	500,000
	Demand Loans Payable – Yitzchok Gurary	$	210,000

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details)	3 Months Ended		6 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Aspiri Cut Rings [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage	51.00%	0.00%	46.00%	0.00%
Complete Rings [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage	29.00%	53.00%	35.00%	67.00%
Fashion Jewelry and Other [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage	20.00%	47.00%	19.00%	33.00%

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Details 1) (USD $)	3 Months Ended				6 Months Ended
	Nov. 30, 2014		Nov. 30, 2013		Nov. 30, 2014		Nov. 30, 2013
Numerator:
Net Income (Loss)	$104,383		($12,743)		$19,727		$113,498
Interest on Convertible Notes	746		740		1,484		1,480
Net Income (Loss)	$105,129		($12,003)		$21,211		$114,978
Denominator:
Basic weighted-average shares	10,476,854		10,368,173		10,473,145		10,360,922
Effective of dilutive securities:
Warrants	0	[1],[2]	0	[1]	0	[1],[2]	0	[1]
Convertible Debt	37,000	[3]	0	[3],[4]	37,000	[3]	37,000	[3]
Diluted weighted-average shares	10,513,854		10,368,173		10,510,145		10,397,922
Per Share Income (Loss):
Basic	$0.01		$0		$0		$0.01
Diluted	$0.01		$0		$0		$0.01
[1]	There are 122,550 warrants issued in connection with 430,000 of unsecured notes at an exercise price of $3.50 per warrant into one share of common stock.
[2]	Warrants for the three and six months ended November 30, 2014 are not included in the computation of diluted weighted average shares as they are not dilutive under the treasury stock method of accounting.
[3]	Convertible debt is convertible into 37,000 shares of common stock.
[4]	Convertible debt for the three months ended November 30, 2013 is not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.

Summary_of_Significant_Account5

Summary of Significant Accounting Policies (Details Textual) (USD $)	6 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Sales Returns and Allowances, Goods	$43,000	$30,000
Federal Deposit Insurance Corporation Premium Expense	250,000
Advertising Expense	101,000	39,000
Debt Conversion, Converted Instrument, Shares Issued	37,000
Debt Conversion, Converted Instrument, Warrants or Options Issued	122,550
Debt Conversion, Original Debt, Amount	$430,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$3.50
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1

Inventories_Details

Inventories (Details) (USD $)	Nov. 30, 2014	31-May-14
Inventory [Line Items]
Raw Materials	$1,151,273	$257,598
Finished Goods	917,111	1,837,331
Total Inventory	$2,068,384	$2,094,929

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	Nov. 30, 2014	31-May-14
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$21,110	$14,079
Less: Accumulated Depreciation	6,298	4,028
Property Plant And Equipment, Net	14,812	10,051
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,493	9,271
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$5,617	$4,808

Property_and_Equipment_Details1

Property and Equipment (Details Textual) (USD $)	6 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Property, Plant and Equipment [Line Items]
Depreciation	$2,300	$1,600

Convertible_Note_Payable_Relat2

Convertible Note Payable - Related Party (Details) (USD $)	Nov. 30, 2014	31-May-14
Short-term Debt [Line Items]
Note Payable, bearing interest at 4% per annum, and due December 31, 2015. The note is Convertible into shares of the Companybs Common stock at a conversion rate of $2 per share, subject to adjustment upon the occurrence of certain events including stock dividends, stock split or combinations and reclassifications.	$74,000	$74,000

Convertible_Note_Payable_Relat3

Convertible Note Payable - Related Party (Details Textual) (Convertible Notes Payable [Member], USD $)	6 Months Ended
	Nov. 30, 2014
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	4.00%
Debt Instrument, Maturity Date	31-Dec-15
Debt Instrument, Convertible, Conversion Price	$2

Loans_Payable_Related_Parties_1

Loans Payable - Related Parties (Details) (USD $)	Nov. 30, 2014	31-May-14
Related Party Transaction [Line Items]
Loans payable to the Companybs President and CEO. The loans are payable on demand and non-interest bearing, and are subordinated to the factor.	$534,632	$359,632
President [Member]
Related Party Transaction [Line Items]
Loans payable to the Companybs President and CEO. The loans are payable on demand and non-interest bearing, and are subordinated to the factor.	$534,632	$359,632

Loans_Payable_Related_Parties_2

Loans Payable - Related Parties (Details Textual) (USD $)	Nov. 30, 2014
Related Party Transaction [Line Items]
Notes Payable, Related Parties	$210,000

Unsecured_Notes_Payable_Detail

Unsecured Notes Payable (Details) (USD $)	Nov. 30, 2014	31-May-14
Unsecured Notes Payable [Line Items]
Notes Payable, Net	$249,276	$0
Notes Payable [Member]
Unsecured Notes Payable [Line Items]
Notes Payable, Par	430,000	0
Initial Debt Discount	-198,557	0
Accumulated Amortization	17,833	0
Notes Payable, Net	$249,276	$0

Unsecured_Notes_Payable_Detail1

Unsecured Notes Payable (Details 1) (USD $)	6 Months Ended
	Nov. 30, 2014
Unsecured Notes Payable [Line Items]
Warrants issued	122,550
Aggregate grant date fair value	$369,000
Warrant [Member]
Unsecured Notes Payable [Line Items]
Dividend yield	0.00%
Volatility	310.78%
Risk-free interest rate	2.40%
Expected life (months)	120 months
Grant date price per share	$3.01
Warrants issued	122,550
Aggregate grant date fair value	$369,000

Unsecured_Notes_Payable_Detail2

Unsecured Notes Payable (Details Textual) (USD $)	6 Months Ended	1 Months Ended	3 Months Ended
	Nov. 30, 2014	Sep. 30, 2014	Nov. 30, 2014	31-May-14	Sep. 15, 2014	Aug. 25, 2014	Aug. 18, 2014
Unsecured Notes Payable [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$3.50		$3.50
Warrants and Rights Outstanding	$369,000		$369,000
Debt Instrument, Unamortized Discount	180,724		180,724	180,724
Amortization Period	2 years
Warrant [Member]
Unsecured Notes Payable [Line Items]
Warrants Exercisable Period	ten years	ten years
Class of Warrant or Right, Exercise Price of Warrants or Rights	$3.50		$3.50		$3.50
Warrants and Rights Outstanding	369,000		369,000
Debt Instrument, Unamortized Discount	199,000		199,000
Amortization of Financing Costs	17,833		16,144
Unsecured Debt [Member]
Unsecured Notes Payable [Line Items]
Convertible Subordinated Debt					30,000	150,000	250,000
Debt Instrument, Interest Rate, Stated Percentage	11.00%		11.00%		11.00%
Debt Instrument, Convertible, Number of Equity Instruments	285	285
Debt Instrument, Face Amount	$1,000		$1,000		$1,000
Debt Instrument, Maturity Date, Description	The notes are due on the second anniversary of their issue date	The notes are due on the second anniversary of their issue date

Financing_Agreement_Details

Financing Agreement (Details) (Accounts Receivable Financing Agreement [Member], USD $)	Nov. 30, 2014
Accounts Receivable Financing Agreement [Member]
Subordinated Borrowing [Line Items]
Accounts Payable - Classique Creations, LLC	$500,000
Demand Loans Payable - Yitzchok Gurary	$210,000

Financing_Agreement_Details_Te

Financing Agreement (Details Textual) (USD $)	3 Months Ended	6 Months Ended
	Nov. 30, 2014	Nov. 30, 2014	Nov. 30, 2013	Oct. 06, 2014	Sep. 30, 2013
Subordinated Borrowing [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$2,000,000
Proceeds from Loans Payable - Factor		3,316,799	978,480
Repayments of Debt	1,600,000
Debt Instrument, Basis Spread on Variable Rate		3.50%
Debt Instrument, Interest Rate During Period	7.50%	7.50%
Accounts Receivable Financing Agreement [Member]
Subordinated Borrowing [Line Items]
Line Of Credit	$1,700,000	$1,700,000			$1,000,000
Debt Instrument, Maturity Date		30-Sep-15

Related_Party_Transactions_Det

Related Party Transactions (Details Textual) (USD $)	3 Months Ended		6 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013	31-May-13	31-May-14
Related Party Transaction [Line Items]
Related Party Cash Payment Term Minimum			One month
Operating Leases, Rent Expense			$2,060
Rent expense			13,000	14,000
Due to Related Parties, Current	534,632		534,632			359,632
Professional Fees	190,593	155,530	358,595	351,167
Related Party Cash Payment Term Maximum			twelve months
Classique Creations LLC [Member]
Related Party Transaction [Line Items]
Accounts Payable, Related Parties, Current	1,900,000		1,900,000			1,500,000
Due to Related Parties, Current	500,000		500,000
Percentage Of Merchandise Purchased From Related Party			26.00%	59.00%
Issac Gurary [Member]
Related Party Transaction [Line Items]
Consulting Agreement Period					1 year
Percentage of Sales Revenue						3.00%
Accrued Professional Fees, Current						104,000
Professional Fees			$172,000

Stockholders_Equity_Details_Te

Stockholders' Equity (Details Textual) (USD $)	6 Months Ended
	Nov. 30, 2014	31-May-14	Sep. 15, 2014
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Warrants or Options Issued	122,550
Class of Warrant or Right, Exercise Price of Warrants or Rights	$3.50
Notes Payable [Member]
Class of Stock [Line Items]
Long-term Debt, Gross	$430,000	$0
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Issued for Services	10,604
Shares Issued, Price Per Share		$3.10
Warrant [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Warrants or Options Issued	122,550
Class of Warrant or Right, Exercise Price of Warrants or Rights	$3.50		$3.50
Weighted Average Remaining Contractual Term	9 years 8 months 12 days

Major_Suppliers_and_Customers_

Major Suppliers and Customers (Details Textual) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Classique Creations LLC [Member]
Major Suppliers And Customers [Line Items]
Percentage Of Merchandise Purchased From Related Party			26.00%	59.00%
Payments to Suppliers			1.3	1.6
Sales Revenue, Net [Member] | Three Largest Customers [Member]
Major Suppliers And Customers [Line Items]
Concentration Risk, Percentage	15.00%	25.00%	19.00%	13.00%
Vendor [Member]
Major Suppliers And Customers [Line Items]
Percentage Of Merchandise Purchased From Related Party			56.00%

Income_Taxes_Details_Textual

Income Taxes (Details Textual)	6 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Income Tax Disclosure [Line Items]
Effective Income Tax Rate Reconciliation, Percent	-30.00%	36.00%