Maiden Lane Jewelry (MDNL) 10-K 11 Sep 15 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	May. 31, 2015	Aug. 31, 2015
Document Information [Line Items]
Entity Registrant Name	Maiden Lane Jewelry, Ltd.
Entity Central Index Key	1,574,097
Current Fiscal Year End Date	--05-31
Document Type	10-K
Amendment Flag	false
Document Period End Date	May 31, 2015
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Trading Symbol	MDNL
Entity Public Float		$ 6.4
Entity Common Stock, Shares Outstanding		10,494,428

BALANCE SHEET

BALANCE SHEET - USD ($)	May. 31, 2015	May. 31, 2014
Current Assets:
Cash and Cash Equivalents	$ 41,731	$ 15,269
Accounts Receivable, Net	3,991,158	1,594,010
Inventories	2,589,231	2,094,929
Prepaid Expenses	187,230	64,092
Deferred Taxes	122,300	85,840
Total Current Assets	6,931,650	3,854,140
Property and Equipment, Net	47,277	10,051
Security Deposits	2,000	2,000
Total Assets	6,980,927	3,866,191
Current Liabilities:
Accounts Payable	2,009,072	1,895,906
Accrued Expenses	30,220	49,474
Loans Payable - Factor	2,242,399	826,284
Loans Payable - Related Parties, net of discount of $4,825	797,007	359,632
Convertible Note Payable - Related Party	74,000	0
Common Stock to be Issued	0	32,871
Income Taxes Payable	48,687	0
Total Current Liabilities	5,201,385	3,164,167
Long-Term Debt:
Convertible Note Payable - Related Party	0	74,000
Notes Payable, net of debt discount of $141,804	288,196	0
Notes Payable - Related Parties	600,000	0
Total Liabilities	$ 6,089,581	$ 3,238,167
Commitments and Contingencies
Stockholders' Equity:
Preferred Stock, $.0001 par value; 10,000,000 shares authorized, none issued and outstanding at May 31, 2015 and May 31, 2014	$ 0	$ 0
Common Stock, $.0001 par value; 50,000,000 shares authorized, 10,494,428 and 10,466,250 shares issued and outstanding at May 31, 2015 and May 31, 2014, respectively	1,049	1,047
Additional Paid-In Capital	1,205,417	895,555
Accumulated Deficit	(315,120)	(268,578)
Total Stockholders' Equity	891,346	628,024
Total Liabilities and Stockholders' Equity	$ 6,980,927	$ 3,866,191

BALANCE SHEET (Parenthetical)

BALANCE SHEET (Parenthetical) - USD ($)	May. 31, 2015	May. 31, 2014
Preferred Stock, par value	$ 0.0001	$ 0.0001
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	$ 0.0001	$ 0.0001
Common Stock, shares authorized	50,000,000	50,000,000
Common Stock, shares issued	10,494,428	10,466,250
Common Stock, shares outstanding	10,494,428	10,466,250
Notes Payable [Member]
Debt Instrument, Unamortized Discount	$ 141,804	$ 0
Loans Payable [Member]
Debt Instrument, Unamortized Discount	$ 4,825	$ 0

STATEMENT OF OPERATIONS

STATEMENT OF OPERATIONS - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Sales - Net	$ 8,852,807	$ 5,409,013
Costs and Expenses:
Cost of Sales	6,637,910	4,304,056
Officers’ Compensation	496,547	187,337
Professional and Consulting Fees	499,205	658,661
Selling, General and Administrative Expenses	945,237	615,047
Provision for Bad Debts	21,261	6,123
Total Costs and Expenses	8,600,160	5,771,224
Income (Loss) from Operations	252,647	(362,211)
Other Income (Expense):
Interest Expense - Related Party	(2,960)	(2,960)
Interest Expense - Loans Payable	(26,261)	0
Interest Expense - Notes Payable	(36,562)	0
Interest Expense - Accounts Receivable Financings	(159,111)	(61,529)
Amortization of Debt Discount	(56,754)	0
Total Other Income and (Expense)	(281,648)	(64,489)
Income (Loss) before Income Tax Provision (Benefit)	(29,001)	(426,700)
Income Tax Provision (Benefit)	17,540	(70,840)
Net (Loss)	$ (46,541)	$ (355,860)
Loss Per Common Share - Basic and Diluted	$ 0	$ (0.03)
Basic and Diluted Weighted Average Shares	10,478,745	10,403,031

STATEMENT OF STOCKHOLDERS' EQUI

STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning balance at May. 31, 2013	$ 773,884	$ 1,035	$ 685,567	$ 87,282
Beginning balance, Shares at May. 31, 2013		10,353,750
Issuance of Common Stock for services	$ 225,000	$ 12	224,988	0
Issuance of Common Stock for services (in shares)	32,871	112,500
Offering Costs	$ (15,000)	$ 0	(15,000)	0
Net Loss	(355,860)			(355,860)
Ending balance at May. 31, 2014	628,024	$ 1,047	895,555	(268,578)
Ending balance, Shares at May. 31, 2014		10,466,250
Issuance of Common Stock for payment of Common Stock to be issued	32,871	$ 1	32,870	0
Issuance of Common Stock for payment of Common Stock to be issued (in shares)		10,604
Issuance of Common Stock for services	52,897	$ 1	52,896	0
Issuance of Common Stock for services (in shares)		17,574
Debt Discount on Loans Payable	25,539	$ 0	25,539	0
Debt Discount on Notes Payable	198,557	0	198,557	0
Net Loss	(46,541)	0	0	(46,541)
Ending balance at May. 31, 2015	$ 891,346	$ 1,049	$ 1,205,417	$ (315,120)
Ending balance, Shares at May. 31, 2015		10,494,428

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Cash Flows from Operating Activities:
Net Loss	$ (46,541)	$ (355,860)
Adjustments to Reconcile Net Loss to Net Cash (Used) in Operating Activities:
Depreciation	5,033	3,271
Amortization of Note Discount	77,467	0
Common Stock Issued for Services	52,897	225,000
Deferred Taxes	(36,460)	(72,340)
Reserve for Doubtful Accounts and Sales Returns and Allowances	212,094	207,274
Changes in Assets and Liabilities:
(Increase) in Accounts Receivable	(2,609,241)	(1,048,361)
(Increase) in Inventories	(494,302)	(305,535)
(Increase) in Prepaid Expenses	(123,138)	(32,061)
Increase in Accounts Payable	113,166	216,015
(Decrease) in Accrued Expenses	(19,254)	(26,052)
Increase in Common Stock to be Issued	0	32,871
Increase (Decrease) in Income Taxes Payable	48,687	(36,600)
Net Cash (Used) in Operating Activities	(2,819,592)	(1,192,378)
Cash Flows from Investing Activities:
Capital Expenditures	(42,259)	(2,355)
Net Cash (Used) In Investing Activities	(42,259)	(2,355)
Cash Flows from Financing Activities:
Payments of Offering Costs	0	(15,000)
Proceeds of Note Issuance	430,000	0
Proceeds of Notes Payable - Related Parties	600,000	0
Proceeds of Loans Payable - Related Parties	1,544,300	934,341
Payments of Loans Payable - Related Parties	(1,102,100)	(574,709)
Proceeds from Loans Payable - Factor	7,888,470	3,990,500
Repayments to Loans Payable - Factor	(6,472,357)	(3,164,216)
Net Cash Provided by Financing Activities	2,888,313	1,170,916
Increase (Decrease) in Cash and Cash Equivalents	26,462	(23,817)
Cash and Cash Equivalents - Beginning of Period	15,269	39,086
Cash and Cash Equivalents - End of Period	41,731	15,269
Supplemental Disclosure of Cash Flow Information:
Interest Paid	207,255	63,117
Income Taxes Paid	0	48,570
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Issuance of 10,604 shares of Common Stock as consideration for payment of obligation to issue common stock	32,871	0
Notes Payable [Member]
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Debt Discount	198,557	0
Loans Payable - Related Parties [Member]
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Debt Discount	$ 25,539	$ 0

STATEMENT OF CASH FLOWS (Parent

STATEMENT OF CASH FLOWS (Parenthetical) - shares	12 Months Ended
	May. 31, 2015	Dec. 31, 2014
Common Stock [Member]
Stock Issued During Period, Shares, New Issues	10,604	10,604

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	May. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies 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. The Company began operations on October 1, 2012 by selling fashion rings, pendants, earrings and bracelets to independent retailers. In December 2012, the Company commenced a line of bridal (engagement) rings, featuring both settings and diamonds. In February 2014 the Company began the sale of bridal engagement rings featuring uniquely cut diamonds which in May 2014 was branded as an Aspiri TM The Company considers all highly-liquid investments purchased with a maturity of three months or less to be cash equivalents. As of May 31, 2015 and 2014, the Company did not have any cash equivalents. 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 the Company fabricates 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 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 five years. 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 $ 84,000 201,000 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 member 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 may maintain cash balances at financial institutions which exceed the current Federal Deposit Insurance Corporation (“FDIC”) limit of $ 250,000 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. Year Ended May 31, 2015 2014 Aspiri TM 47 % 14 % Complete Rings (not Aspiri) 32 60 Fashion Jewelry & Other 21 26 In February 2014 the Company began the sale of Aspiri bridal engagement rings. The first full quarter of Aspiri sales occurred during the three months ended May 31, 2104; at this initial roll-out of the Aspiri product line, there was less of a focus on the sales of non-Aspiri products. At the end of February 2015, the Company decided to phase out our line of fashion jewelry in order to focus on its Aspiri cut diamond engagement rings, pendants and jewelry. The Company expanded its Aspiri cut diamond line in November 2014 to include pendants and earrings. Year Ended May 31, 2015 2014 Aspiri Engagement Rings 43 % 14 % Aspiri Engagement Pendants 2 0 Aspiri Engagement Earrings 1 0 Advertising and show costs are charged to operations when incurred. Advertising costs during the years ended May 31, 2015 and 2014 was $ 308,000 109,000 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. Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the periods presented. Diluted loss per common share is computed by dividing net loss by the weighted average number of dilutive common share equivalents and convertible securities then outstanding. Diluted loss per common share is based on the treasury stock method and includes the effect from potential issuance of common stock such as shares issuable pursuant to the exercise of warrants and conversion of debentures. Potentially dilutive securities as of May 31, 2015 consisted of 37,000 122,550 430,000 3.50 37,000 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. 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. 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	12 Months Ended
	May. 31, 2015
Inventory Disclosure [Abstract]
Inventories	NOTE 2 - Inventories Inventories consist of the following: May 31, 2015 May 31, 2014 Raw Materials $ 775,312 $ 257,598 Finished Goods 1,813,919 1,837,331 Total Inventory $ 2,589,231 $ 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	12 Months Ended
	May. 31, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 3 - Property and Equipment May 31, 2015 May 31, 2014 Office Equipment $ 16,349 $ 9,271 Computers $ 4,808 $ 4,808 Capitalized Software 35,181 — 56,338 14,079 Less: Accumulated Depreciation 9,061 4,028 $ 47,277 $ 10,051 The Company is capitalizing new software related to inventory management and production. The cost of this software includes a base package cost plus current customization. Once the software is fully implemented, the Company will depreciate the total cost of the software over five years. Depreciation expense was approximately $ 5,000 3,300

Convertible Note Payable - Rela

Convertible Note Payable - Related Party	12 Months Ended
	May. 31, 2015
Debt Disclosure [Abstract]
Convertible Note Payable - Related Party	NOTE 4 - Convertible Note Payable – Related Party May 31, 2015 May 31, 2014 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	12 Months Ended
	May. 31, 2015
Debt Disclosure [Abstract]
Loans Payable - Related Parties	NOTE 5 - Loans Payable – Related Parties May 31, 2015 May 31, 2014 Loans payable to related parties, include a $401,832 payable to the Company’s President and CFO. The loans are payable on demand and non-interest bearing. Interest has been imputed at 3.25% per annum and the Company has recorded a debt discount of $25,539 against Additional Paid-In Capital. This discount is being amortized over two years. $ 801,832 $ 359,632 Less: Unamortized discount 4,825 — Loans Payable – Related Parties, Net $ 797,007 $ 359,632 A portion of this loan payable to the Company’s President and CFO in the amount of $ 210,000

Notes Payable - Related Parties

Notes Payable - Related Parties	12 Months Ended
	May. 31, 2015
Debt Disclosure [Abstract]
Notes Payable - Related Parties	NOTE 6 - Notes Payable – Related Parties Notes payable to related parties is summarized as follows: May 31, 2015 May 31, 2014 Notes payable to the Company’s President and CFO bears interest at 4% per annum and is due December 31, 2016. Interest is payable quarterly and note is subordinated to the Factor. $ 600,000 $ —

Unsecured Notes Payable

Unsecured Notes Payable	12 Months Ended
	May. 31, 2015
Payables and Accruals [Abstract]
Unsecured Notes Payable	NOTE 7 - Unsecured Notes Payable On August 18, 2014, August 25, 2014 and September 15, 2014 the Company issued $ 250,000 150,000 30,000 11 285 1,000 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 $ 369,000 199,000 57,000 May 31, 2015 May 31, 2014 Notes Payable, Par $ 430,000 $ — Initial Debt Discount (198,557) — Accumulated Amortization 56,753 — Notes Payable, Net $ 288,196 $ — Dividend yield 0.00 % Volatility 310.78 % Risk-free interest rate 2.40 % 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	12 Months Ended
	May. 31, 2015
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” or the “Factor”) pursuant to which Rosenthal shall provide the Company with a line of credit up to $ 1,000,000 2,000,000 3.5 7.5 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 $ 2.3 7.1 On March 9, 2015, this Accounts Receivable Financing Agreement was amended to increase the line of credit up to a maximum of $ 2,500,000 Company to the lesser of the Maximum Credit Facility (as defined in the Accounts Receivable Financing Agreement) or $600,000, minus such reserves Rosenthal & Rosenthal, Inc. may deem necessary. 70 2,800,000

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	May. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 - Commitments and Contingencies None.

Related Party Transactions

Related Party Transactions	12 Months Ended
	May. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 10 - Related Party Transactions On October 1, 2012 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 63,000 104,000 During the years ended May 31, 2015 and 2014, the Company purchased approximately 41 63 Included in accounts payable at May 31, 2015 and 2014 are amounts owed to Classique totaling approximately $ 1.8 1.5 500,000 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 26,000 25,000 During the years ended May 31, 2015 and 2014, the Company engaged in sales of approximately $ 560,000 136,000

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	May. 31, 2015
Equity [Abstract]
Stockholders' Equity	NOTE 11 - Stockholders’ Equity On July 26, 2013 the Company entered into a three year consulting agreement with Sands Point Associates, LLC and its CEO, Robert McMullan. Pursuant to this consulting agreement, the compensation for the first year was to be $ 125,000 200,000 200,000 500,000 50,000 450,000 226,900 100,000 50,000 37,500 2 75,000 On October 9, 2013 the Company entered into a four month consultant agreement with a consultant. The consultant agreement calls for the issuance of 25,000 25,000 50,000 On August 4, 2014 the Company issued 10,604 3.10 32,871 17,574 3.01 52,898 In connection with the issuance of $ 430,000 122,550 3.50 3.50 9.2 The Company’s Board of Directors may issue shares of preferred stock in series and at the time of issuance, determine the rights, preferences and limitation of each series. The holders of preferred stock may be entitled to receive a preference payment in the event of any liquidation, dissolution or winding-up of the Company before any payment is made to the holders of the common stock. Furthermore, the board of directors could issue preferred stock with voting and other rights that could adversely affect the voting power of the holders of the common stock.

Major Suppliers and Customers

Major Suppliers and Customers	12 Months Ended
	May. 31, 2015
Major Suppliers And Customers [Abstract]
Major Suppliers and Customers	NOTE 12 - Major Suppliers and Customers 3.3 41 2.7 63 In addition, the Company purchased merchandise from one vendor which amounted to approximately 53 Our three largest customers frequently vary from period to period. For the years ended May 31, 2015 and 2014, our three largest customers accounted for approximately 17 16

Income Taxes

Income Taxes	12 Months Ended
	May. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Year Ended May 31, 2015 May 31, 2014 Current Federal $ 43,000 $ — State 11,000 1,500 54,000 1,500 Deferred Federal $ (29,500) $ (61,568) State (6,960) (10,772) (36,460) (72,340) $ 17,540 $ (70,840) May 31, 2015 May 31, 2014 Reserves $ 95,700 $ 38,640 Accrued Compensation 26,600 47,200 $ 122,300 $ 85,840 May 31, 2015 May 31, 2014 Tax provision at Federal Statutory rate 34.0 % (34.0) % State and local income taxes, net of federal tax benefit (2.0) — Stock issued for services — 16.1 Other 5.9 (7.2) Accrued Compensation (30.3) 10.7 Change in Valuation Allowance — 5.8 Reserves 20.4 8.6 Tax provision 28.0 0.0

Subsequent Events

Subsequent Events	12 Months Ended
	May. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 14 - Subsequent Events On June 9, 2015, this Accounts Receivable Financing Agreement with Rosenthal & Rosenthal was further amended to increase the line of credit up to a maximum of $2,800,000 (see Note 8). The Company has evaluated subsequent events through the date the financial statements were issued and up to the time of filing of the financial statements with the Securities and Exchange Commission.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	May. 31, 2015
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. The Company began operations on October 1, 2012 by selling fashion rings, pendants, earrings and bracelets to independent retailers. In December 2012, the Company commenced a line of bridal (engagement) rings, featuring both settings and diamonds. In February 2014 the Company began the sale of bridal engagement rings featuring uniquely cut diamonds which in May 2014 was branded as an Aspiri TM
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 May 31, 2015 and 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 the Company fabricates 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 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 $ 84,000 201,000
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 member 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 may maintain cash balances at financial institutions which exceed the current Federal Deposit Insurance Corporation (“FDIC”) limit of $ 250,000
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. Year Ended May 31, 2015 2014 Aspiri TM 47 % 14 % Complete Rings (not Aspiri) 32 60 Fashion Jewelry & Other 21 26 In February 2014 the Company began the sale of Aspiri bridal engagement rings. The first full quarter of Aspiri sales occurred during the three months ended May 31, 2104; at this initial roll-out of the Aspiri product line, there was less of a focus on the sales of non-Aspiri products. At the end of February 2015, the Company decided to phase out our line of fashion jewelry in order to focus on its Aspiri cut diamond engagement rings, pendants and jewelry. The Company expanded its Aspiri cut diamond line in November 2014 to include pendants and earrings. Year Ended May 31, 2015 2014 Aspiri Engagement Rings 43 % 14 % Aspiri Engagement Pendants 2 0 Aspiri Engagement Earrings 1 0
Advertising Costs	Advertising Costs Advertising and show costs are charged to operations when incurred. Advertising costs during the years ended May 31, 2015 and 2014 was $ 308,000 109,000
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	Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the periods presented. Diluted loss per common share is computed by dividing net loss by the weighted average number of dilutive common share equivalents and convertible securities then outstanding. Diluted loss per common share is based on the treasury stock method and includes the effect from potential issuance of common stock such as shares issuable pursuant to the exercise of warrants and conversion of debentures. Potentially dilutive securities as of May 31, 2015 consisted of 37,000 122,550 430,000 3.50 37,000
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 Accoun23

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	May. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Year Ended May 31, 2015 2014 Aspiri TM 47 % 14 % Complete Rings (not Aspiri) 32 60 Fashion Jewelry & Other 21 26 A breakdown of Aspiri jewelry to gross sales for the year ended May 31, 2015 and 2014, respectively: Year Ended May 31, 2015 2014 Aspiri Engagement Rings 43 % 14 % Aspiri Engagement Pendants 2 0 Aspiri Engagement Earrings 1 0

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	May. 31, 2015
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following: May 31, 2015 May 31, 2014 Raw Materials $ 775,312 $ 257,598 Finished Goods 1,813,919 1,837,331 Total Inventory $ 2,589,231 $ 2,094,929

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	May. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consists of the following: May 31, 2015 May 31, 2014 Office Equipment $ 16,349 $ 9,271 Computers $ 4,808 $ 4,808 Capitalized Software 35,181 — 56,338 14,079 Less: Accumulated Depreciation 9,061 4,028 $ 47,277 $ 10,051

Convertible Note Payable - Re26

Convertible Note Payable - Related Party (Tables)	12 Months Ended
	May. 31, 2015
Debt Disclosure [Abstract]
Schedule of Convertible note payable	Convertible note payable to the Company’s president is summarized as follows: May 31, 2015 May 31, 2014 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 Parti27

Loans Payable - Related Parties (Tables)	12 Months Ended
	May. 31, 2015
Loans Payable [Abstract]
Schedule of Loans Payable Related Party	Loans payable to related parties is summarized as follows: May 31, 2015 May 31, 2014 Loans payable to related parties, include a $401,832 payable to the Company’s President and CFO. The loans are payable on demand and non-interest bearing. Interest has been imputed at 3.25% per annum and the Company has recorded a debt discount of $25,539 against Additional Paid-In Capital. This discount is being amortized over two years. $ 801,832 $ 359,632 Less: Unamortized discount 4,825 — Loans Payable – Related Parties, Net $ 797,007 $ 359,632

Notes Payable - Related Parti28

Notes Payable - Related Parties (Tables)	12 Months Ended
	May. 31, 2015
Debt Disclosure [Abstract]
Schedule of Notes Payable to Related Parties	Notes payable to related parties is summarized as follows: May 31, 2015 May 31, 2014 Notes payable to the Company’s President and CFO bears interest at 4% per annum and is due December 31, 2016. Interest is payable quarterly and note is subordinated to the Factor. $ 600,000 $ —

Unsecured Notes Payable (Tables

Unsecured Notes Payable (Tables)	12 Months Ended
	May. 31, 2015
Payables and Accruals [Abstract]
Schedule of Notes Payable	For the year ended May 31, 2015, the Company recognized approximately $ 57,000 May 31, 2015 May 31, 2014 Notes Payable, Par $ 430,000 $ — Initial Debt Discount (198,557) — Accumulated Amortization 56,753 — Notes Payable, Net $ 288,196 $ —
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 0.00 % Volatility 310.78 % Risk-free interest rate 2.40 % 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)	12 Months Ended
	May. 31, 2015
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

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	May. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Year Ended May 31, 2015 May 31, 2014 Current Federal $ 43,000 $ — State 11,000 1,500 54,000 1,500 Deferred Federal $ (29,500) $ (61,568) State (6,960) (10,772) (36,460) (72,340) $ 17,540 $ (70,840)
Schedule of Deferred Tax Assets and Liabilities	Deferred tax assets consist of the following: May 31, 2015 May 31, 2014 Reserves $ 95,700 $ 38,640 Accrued Compensation 26,600 47,200 $ 122,300 $ 85,840
Schedule of Effective Income Tax Rate Reconciliation	The federal statutory income tax rate is reconciled to the effective rate as follows: May 31, 2015 May 31, 2014 Tax provision at Federal Statutory rate 34.0 % (34.0) % State and local income taxes, net of federal tax benefit (2.0) — Stock issued for services — 16.1 Other 5.9 (7.2) Accrued Compensation (30.3) 10.7 Change in Valuation Allowance — 5.8 Reserves 20.4 8.6 Tax provision 28.0 0.0

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Details) - Concentration Risk Benchmark [Domain]	12 Months Ended
	May. 31, 2015	May. 31, 2014
Aspiri Cut Jewelry [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage	47.00%	14.00%
Complete Rings [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage	32.00%	60.00%
Fashion Jewelry and Other [Member]
Accounting Policies [Line Items]
Concentration Risk, Percentage	21.00%	26.00%

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Details 1)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Aspiri Engagement Rings [Member]
Concentration Risk, Percentage	43.00%	14.00%
Aspiri Engagement Pendants [Member]
Concentration Risk, Percentage	2.00%	0.00%
Aspiri Engagement Earrings [Member]
Concentration Risk, Percentage	1.00%	0.00%

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Accounting Policies [Line Items]
Sales Returns and Allowances, Goods	$ 84,000	$ 201,000
Federal Deposit Insurance Corporation Premium Expense	250,000
Advertising Expense	$ 308,000	$ 109,000
Debt Conversion, Converted Instrument, Shares Issued	37,000	37,000
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
Property, Plant and Equipment, Useful Life	5 years
Class of Warrant or Right, Outstanding	122,550
Description Of Customers Payment Terms	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.

Inventories (Details)

Inventories (Details) - USD ($)	May. 31, 2015	May. 31, 2014
Inventory [Line Items]
Raw Materials	$ 775,312	$ 257,598
Finished Goods	1,813,919	1,837,331
Total Inventory	$ 2,589,231	$ 2,094,929

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	May. 31, 2015	May. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 56,338	$ 14,079
Less: Accumulated Depreciation	9,061	4,028
Property Plant And Equipment, Net	47,277	10,051
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	16,349	9,271
Computers [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,808	4,808
Capitalized Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 35,181	$ 0

Property and Equipment (Detai37

Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Property, Plant and Equipment [Line Items]
Depreciation	$ 5,000	$ 3,300

Convertible Note Payable - Re38

Convertible Note Payable - Related Party (Details) - USD ($)	May. 31, 2015	May. 31, 2014
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 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.	$ 0	$ 74,000

Convertible Note Payable - Re39

Convertible Note Payable - Related Party (Details Textual) - May. 31, 2015 - Convertible Notes Payable [Member] - $ / shares	Total
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	4.00%
Debt Instrument, Maturity Date	Dec. 31, 2015
Debt Instrument, Convertible, Conversion Price	$ 2

Loans Payable - Related Parti40

Loans Payable - Related Parties (Details) - USD ($)	May. 31, 2015	May. 31, 2014
Related Party Transaction [Line Items]
Loans Payable - Related Parties	$ 797,007	$ 359,632
Loans Payable [Member]
Related Party Transaction [Line Items]
Less: Unamortized discount	4,825	0
Loans Payable - Related Parties	797,007	359,632
President [Member] | Loans Payable [Member]
Related Party Transaction [Line Items]
Loans Payable - Related Parties	$ 801,832	$ 359,632

Loans Payable - Related Parti41

Loans Payable - Related Parties (Details Textual) - May. 31, 2015 - Related Party [Domain] - USD ($)	Total
Related Party Transaction [Line Items]
Notes Payable, Related Parties	$ 210,000
Adjustments to Additional Paid in Capital, Debt Discount on Loans Payable	25,539
President And Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Notes Payable, Related Parties	$ 401,832
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Adjustments to Additional Paid in Capital, Debt Discount on Loans Payable	$ 25,539
Debt Instrument, Convertible, Remaining Discount Amortization Period	2 years

Notes Payable - Related Parti42

Notes Payable - Related Parties (Details) - USD ($)	May. 31, 2015	May. 31, 2014
Notes payable to the Company’s President and CFO bears interest at 4% per annum and is due December 31, 2016. Interest is payable quarterly and note is subordinated to the Factor.	$ 600,000	$ 0

Notes Payable - Related Parti43

Notes Payable - Related Parties (Details Textual)	May. 31, 2015
President And CFO [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.00%

Unsecured Notes Payable (Detail

Unsecured Notes Payable (Details) - USD ($)	May. 31, 2015	Feb. 28, 2015	May. 31, 2014
Unsecured Notes Payable [Line Items]
Notes Payable, Net	$ 288,196		$ 0
Notes Payable [Member]
Unsecured Notes Payable [Line Items]
Notes Payable, Par	430,000	$ 430,000	0
Initial Debt Discount	(198,557)		0
Accumulated Amortization	56,753		0
Notes Payable, Net	$ 288,196		$ 0

Unsecured Notes Payable (Deta45

Unsecured Notes Payable (Details 1) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2015	May. 31, 2015
Unsecured Notes Payable [Line Items]
Dividend yield		0.00%
Warrant [Member]
Unsecured Notes Payable [Line Items]
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	122,550
Aggregate grant date fair value		$ 369,000

Unsecured Notes Payable (Deta46

Unsecured Notes Payable (Details Textual)	Sep. 15, 2014USD ($)	Aug. 25, 2014USD ($)	Aug. 18, 2014USD ($)	May. 31, 2015USD ($)$ / shares	Feb. 28, 2015$ / shares
Unsecured Notes Payable [Line Items]
Warrants Exercisable Period				ten years
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares				$ 3.50
Warrant [Member]
Unsecured Notes Payable [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares				$ 3.50	$ 3.50
Warrants and Rights Outstanding				$ 369,000
Debt Instrument, Unamortized Discount				199,000
Amortization of Financing Costs				$ 57,000
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	285
Debt Instrument, Face Amount	$ 1,000	$ 1,000	$ 1,000

Financing Agreement (Details)

Financing Agreement (Details) - Accounts Receivable Financing Agreement [Member]	May. 31, 2015USD ($)
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 ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014	Jun. 09, 2015	Mar. 09, 2015	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	$ 7,888,470	$ 3,990,500
Repayments of Debt	$ 7,100,000
Debt Instrument, Basis Spread on Variable Rate	3.50%
Debt Instrument, Interest Rate During Period	7.50%	7.50%
Line of Credit Facility, Increase (Decrease) for Period, Description	Company to the lesser of the Maximum Credit Facility (as defined in the Accounts Receivable Financing Agreement) or $600,000, minus such reserves Rosenthal & Rosenthal, Inc. may deem necessary.
Percentage of Net Amount of Eligible Receivables	70.00%
Subsequent Event [Member]
Subordinated Borrowing [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 2,800,000
Accounts Receivable Financing Agreement [Member]
Subordinated Borrowing [Line Items]
Line Of Credit	$ 2,300,000					$ 1,000,000
Line of Credit Facility, Maximum Borrowing Capacity				$ 2,500,000
Debt Instrument, Maturity Date	Sep. 30, 2015
Accounts Receivable Financing Agreement [Member] | Subsequent Event [Member]
Subordinated Borrowing [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 2,800,000

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Related Party Transaction [Line Items]
Accrued Professional Fees, Current		$ 226,900
Related Party Cash Payment Term Minimum	one month
Related Party Cash Payment Term Maximum	twelve  months
Operating Leases, Rent Expense	$ 2,060
Rent expense	26,000	25,000
Due to Related Parties, Current	797,007	359,632
Professional Fees	499,205	658,661
Engaged In Sales	560,000	136,000
Classique Creations LLC [Member]
Related Party Transaction [Line Items]
Accounts Payable, Related Parties, Current	1,800,000	$ 1,500,000
Due to Related Parties, Current	$ 500,000
Percentage Of Merchandise Purchased From Related Party	41.00%	63.00%
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	$ 63,000

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	Aug. 04, 2014	Nov. 01, 2013	Oct. 09, 2013	Feb. 28, 2015	Dec. 23, 2014	Jul. 26, 2013	Feb. 28, 2015	May. 31, 2015	Dec. 31, 2014	May. 31, 2014
Class of Stock [Line Items]
Stock Issued During Period, Shares, Issued for Services		37,500								32,871
Shares Issued, Price Per Share		$ 2
Class of Warrant or Right, Exercise Price of Warrants or Rights								$ 3.50
Stock Issued During Period, Value, Issued for Services							$ 52,898	$ 52,897		$ 225,000
Stock Issued During Period, Value, New Issues								32,871
Accrued Professional Fees, Current										226,900
Professional Fees								499,205		658,661
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost, Total										100,000
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures, Total		$ 75,000	$ 25,000
Notes Payable [Member]
Class of Stock [Line Items]
Long-term Debt, Gross				$ 430,000			$ 430,000	430,000		$ 0
Sands Point Associates [Member]
Class of Stock [Line Items]
Accrued Professional Fees, Current						$ 125,000
Professional Fees								200,000
Sands Point Associates [Member] | Scenario, Forecast [Member]
Class of Stock [Line Items]
Professional Fees								$ 200,000
Robert McMullan [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Issued for Services						500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number						450,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number						50,000
Consultant Agreement [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			25,000
Stock Issued During Period, Value, New Issues			$ 50,000
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Issued for Services	10,604				17,574			17,574		112,500
Shares Issued, Price Per Share	$ 3.10				$ 3.01
Stock Issued During Period, Value, Issued for Services								$ 1		$ 12
Stock Issued During Period, Shares, New Issues								10,604	10,604
Stock Issued During Period, Value, New Issues								$ 1
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures, Total										$ 50,000
Warrant [Member]
Class of Stock [Line Items]
Debt Conversion, Converted Instrument, Warrants or Options Issued				122,550				122,550
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 3.50			$ 3.50	$ 3.50
Weighted Average Remaining Contractual Term							9 years 2 months 12 days

Major Suppliers and Customers (

Major Suppliers and Customers (Details Textual) - USD ($) $ in Millions	12 Months Ended
	May. 31, 2015	May. 31, 2014
Classique Creations LLC [Member]
Major Suppliers And Customers [Line Items]
Percentage Of Merchandise Purchased From Related Party	41.00%	63.00%
Payments to Suppliers	$ 3.3	$ 2.7
Sales Revenue, Net [Member] | Three Largest Customers [Member]
Major Suppliers And Customers [Line Items]
Concentration Risk, Percentage	17.00%	16.00%
Vendor [Member]
Major Suppliers And Customers [Line Items]
Percentage Of Merchandise Purchased From Related Party	53.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Current
Federal	$ 43,000	$ 0
State	11,000	1,500
Income tax provision, Current	54,000	1,500
Deferred
Federal	(29,500)	(61,568)
State	(6,960)	(10,772)
Income tax provision, Deferred	(36,460)	(72,340)
Income tax provision, Total	$ 17,540	$ (70,840)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	May. 31, 2015	May. 31, 2014
Deferred Tax Assets, Net [Abstract]
Reserves	$ 95,700	$ 38,640
Accrued Compensation	26,600	47,200
Deferred tax assets, Total	$ 122,300	$ 85,840

Income Taxes (Details 2)

Income Taxes (Details 2)	12 Months Ended
	May. 31, 2015	May. 31, 2014
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Tax provision at Federal Statutory rate	34.00%	(34.00%)
State and local income taxes, net of federal tax benefit	(2.00%)	0.00%
Stock issued for services	0.00%	16.10%
Other	5.90%	(7.20%)
Accrued Compensation	(30.30%)	10.70%
Change in Valuation Allowance	0.00%	5.80%
Reserves	20.40%	8.60%
Tax provision	28.00%	0.00%

Subsequent Events (Details Text

Subsequent Events (Details Textual) - Subordinated Borrowing, Name [Domain] - USD ($)	Jun. 09, 2015	Oct. 06, 2014
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 2,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,800,000