Document And Entity Information
| Document And Entity Information - USD ($) | 12 Months Ended | ||
| May 31, 2016 | Aug. 29, 2016 | Nov. 30, 2015 | |
| Document and Entity Information [Abstract] | |||
| Entity Registrant Name | BIOMERICA INC. | ||
| Document Type | 10-K | ||
| Current Fiscal Year End Date | --05-31 | ||
| Entity Common Stock, Shares Outstanding | 8,169,673 | ||
| Entity Public Float | $ 5,370,341 | ||
| Amendment Flag | false | ||
| Entity Central Index Key | 73,290 | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Filer Category | Smaller Reporting Company | ||
| Entity Well-known Seasoned Issuer | No | ||
| Document Period End Date | May 31, 2016 | ||
| Document Fiscal Year Focus | 2,016 | ||
| Document Fiscal Period Focus | FY |
CONDENSED CONSOLIDATED BALANCE
| CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | May 31, 2016 | May 31, 2015 |
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 1,888,925 | $ 1,088,307 |
| Accounts receivable, less allowance for doubtful accounts of $8,405 and $17,468, respectively | 969,474 | 1,111,570 |
| Inventories, net | 1,863,091 | 2,027,372 |
| Prepaid expenses and other | 113,578 | 164,352 |
| Total current assets | 4,835,068 | 4,391,601 |
| PROPERTY AND EQUIPMENT | ||
| Equipment | 1,496,119 | 1,442,856 |
| Furniture, fixtures and leasehold improvements | 308,440 | 270,147 |
| Total property and equipment | 1,804,559 | 1,713,003 |
| Accumulated depreciation | (1,423,900) | (1,267,617) |
| Net property and equipment | 380,659 | 445,386 |
| DEFERRED TAX ASSETS | 41,000 | 744,000 |
| INTANGIBLE ASSETS, net | 248,801 | 321,304 |
| INVESTMENTS | 165,324 | 165,324 |
| OTHER ASSETS | 55,653 | 56,838 |
| TOTAL ASSETS | 5,726,505 | 6,124,453 |
| CURRENT LIABILITIES | ||
| Accounts payable and accrued expenses | 333,485 | 392,139 |
| Accrued compensation | 172,542 | 131,794 |
| Total current liabilities | 506,027 | 523,933 |
| COMMITMENTS AND CONTINGENCIES (NOTE 9) | ||
| SHAREHOLDERS' EQUITY | ||
| Preferred stock, no par value, 5,000,000 authorized shares, no shares issued and outstanding at May 31, 2016 and 2015 | ||
| Common stock, $.08 par value; 25,000,000 shares authorized; 8,169,673 and 7,566,714 shares issued and outstanding, respectively | 653,573 | 605,336 |
| Additional paid-in capital | 19,399,720 | 18,326,890 |
| Accumulated other comprehensive loss | (13,586) | (12,264) |
| Accumulated deficit | (14,819,229) | (13,319,442) |
| Total shareholders' equity | 5,220,478 | 5,600,520 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 5,726,505 | $ 6,124,453 |
CONDENSED CONSOLIDATED BALANCE3
| CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) | May 31, 2016 | May 31, 2015 |
| Allowance for doubtful accounts (in Dollars) | $ 8,405 | $ 17,468 |
| Preferred Stock, No Par Value (in Dollars per share) | $ 0 | $ 0 |
| Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
| Preferred Stock, Shares Issued | 0 | 0 |
| Preferred Stock, Shares Outstanding | 0 | 0 |
| Common stock par value (in Dollars per share) | $ 0.08 | $ 0.08 |
| Common stock, shares authorized | 25,000,000 | 25,000,000 |
| Common stock, shares issued | 8,169,673 | 7,566,714 |
| Common stock, shares outstanding | 8,169,673 | 7,566,714 |
CONDENSED CONSOLIDATED STATEMEN
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| Net sales | $ 5,139,816 | $ 4,962,373 |
| Cost of sales | (3,615,774) | (3,420,567) |
| GROSS PROFIT | 1,524,042 | 1,541,806 |
| OPERATING EXPENSES | ||
| Selling, general and administrative | 1,570,661 | 1,478,761 |
| Research and development | 780,333 | 733,640 |
| Total operating expenses | 2,350,994 | 2,212,401 |
| LOSS FROM OPERATIONS | (826,952) | (670,595) |
| OTHER INCOME (EXPENSE) | ||
| Interest expense | (167) | |
| Interest and dividend income | 24,123 | 21,906 |
| Other income | 7,009 | 2,255 |
| Total other income | 30,965 | 24,161 |
| LOSS BEFORE INCOME TAXES | (795,987) | (646,434) |
| INCOME TAX (EXPENSE) BENEFIT | (703,800) | 315,024 |
| NET LOSS | $ (1,499,787) | $ (331,410) |
| BASIC NET LOSS PER COMMON SHARE (in Dollars per share) | $ (0.20) | $ (0.04) |
| DILUTED NET LOSS PER COMMON SHARE (in Dollars per share) | $ (0.20) | $ (0.04) |
| WEIGHTED AVERAGE NUMBER OF COMMON AND COMMON EQUIVALENT SHARES | ||
| Basic (in Shares) | 7,626,078 | 7,552,262 |
| Diluted (in Shares) | 7,626,078 | 7,552,262 |
| NET LOSS | $ (1,499,787) | $ (331,410) |
| OTHER COMPREHENSIVE LOSS | ||
| Foreign currency translation | (1,322) | (2,115) |
| COMPREHENSIVE LOSS | $ (1,501,109) | $ (333,525) |
CONSOLIDATED STATEMENTS OF SHAR
| CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
| Balances at May. 31, 2014 | $ 603,496 | $ 18,309,154 | $ (10,149) | $ (12,988,032) | $ 5,914,469 |
| Balances (in Shares) at May. 31, 2014 | 7,543,714 | ||||
| Exercise of stock options | $ 1,840 | 7,720 | $ 9,560 | ||
| Exercise of stock options (in Shares) | 23,000 | 23,000 | |||
| Foreign currency translation | (2,115) | $ (2,115) | |||
| Compensation expense in connection with options granted | 10,016 | 10,016 | |||
| Net loss | (331,410) | (331,410) | |||
| Balances at May. 31, 2015 | $ 605,336 | 18,326,890 | (12,264) | (13,319,442) | 5,600,520 |
| Balances (in Shares) at May. 31, 2015 | 7,566,714 | ||||
| Exercise of stock options | $ 21,570 | 88,366 | $ 109,936 | ||
| Exercise of stock options (in Shares) | 269,625 | 269,625 | |||
| Foreign currency translation | (1,322) | $ (1,322) | |||
| Private Placement | $ 26,667 | 969,311 | 995,978 | ||
| Private Placement (in Shares) | 333,334 | ||||
| Compensation expense in connection with options granted | 15,153 | 15,153 | |||
| Net loss | (1,499,787) | (1,499,787) | |||
| Balances at May. 31, 2016 | $ 653,573 | $ 19,399,720 | $ (13,586) | $ (14,819,229) | $ 5,220,478 |
| Balances (in Shares) at May. 31, 2016 | 8,169,673 |
CONSOLIDATED STATEMENTS OF CASH
| CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $ (1,499,787) | $ (331,410) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 232,422 | 253,275 |
| Change in provision for allowance for doubtful accounts | (9,063) | (12,532) |
| Inventory reserve | 27,150 | (18,222) |
| Gain on disposal of property and equipment | (665) | |
| Stock option expense | 15,153 | 10,016 |
| Decrease in deferred rent liability | (28,073) | (20,406) |
| Decrease (increase) in deferred tax assets | 703,000 | (298,000) |
| Changes in assets and liabilities: | ||
| Accounts receivable | 151,159 | 348,667 |
| Inventories | 137,131 | (243,378) |
| Prepaid expenses and other | 50,774 | (60,780) |
| Other assets | 1,185 | (20,541) |
| Accounts payable and accrued expenses | (30,581) | (29,136) |
| Accrued compensation | 40,748 | 17,631 |
| Net cash used in operating activities | (208,782) | (405,481) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of property and equipment | (91,556) | (10,503) |
| Purchases of intangible assets | (3,636) | (14,179) |
| Proceeds from sales of property and equipment | 1,900 | |
| Net cash used in investing activities | (95,192) | (22,782) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from sale of common stock | 995,978 | |
| Proceeds from exercise of stock options | 109,936 | 9,560 |
| Net cash provided by financing activities | 1,105,914 | 9,560 |
| Effect of exchange rate changes on cash | (1,322) | (2,115) |
| Net increase (decrease) in cash and cash equivalents | 800,618 | (420,818) |
| CASH AND CASH EQUIVALENTS, beginning of year | 1,088,307 | 1,509,125 |
| CASH AND CASH EQUIVALENTS, end of year | 1,888,925 | 1,088,307 |
| Cash paid during the period for: | ||
| Interest | 167 | 138 |
| Income taxes | $ 800 | $ 800 |
ORGANIZATION
| ORGANIZATION | 12 Months Ended |
| May 31, 2016 | |
| Disclosure Text Block [Abstract] | |
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. ORGANIZATION Biomerica, Inc. and Subsidiaries (collectively "the Company") are primarily engaged in the development, manufacture and marketing of medical diagnostic kits. The Company develops, manufactures, and markets medical diagnostic products designed for the early detection and monitoring of chronic diseases and medical conditions. The Company’s medical diagnostic products are sold worldwide in two markets: 1) clinical laboratories and 2) point of care (physicians' offices and over-the-counter drugstores). The diagnostic test kits are used to analyze blood, urine or fecal samples from patients in the diagnosis of various diseases and other medical complications, or to measure the level of specific hormones, antibodies, antigens or other substances, which may exist in the human body in extremely small concentrations. |
SUMMARY OF SIGNIFICANT ACCOUNTI
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
| May 31, 2016 | |
| Accounting Policies [Abstract] | |
| Significant Accounting Policies [Text Block] | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PRINCIPLES OF CONSOLIDATION The consolidated financial statements for the years ended May 31, 2016 and 2015 include the accounts of Biomerica, Inc. ("Biomerica") as well as its German subsidiary and Mexican subsidiary. The Mexican subsidiary has not begun operations. All significant intercompany accounts and transactions have been eliminated in consolidation. ACCOUNTING ESTIMATES The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reported period. Actual results could materially differ from those estimates. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company has financial instruments whereby the fair market value of the financial instruments could be different than that recorded on a historical basis. The Company's financial instruments consist of its cash and cash equivalents, accounts receivable, and accounts payable. The carrying amounts of the Company's financial instruments approximate their fair values. CONCENTRATION OF CREDIT RISK The Company maintains cash balances at certain financial institutions in excess of amounts insured by federal agencies. The Company does not believe it is exposed to any significant credit risks. The Company provides credit in the normal course of business to customers throughout the United States and foreign markets. For the years ended May 31, 2016 and 2015, the Company had one distributor which accounted for 30.3% and 16.3%, respectively, of consolidated sales. The Company performs ongoing credit evaluations of its customers and requires prepayment in some circumstances. At May 31, 2016, two customers accounted for 60.3% of gross accounts receivable. At May 31, 2015, two customers accounted for 53.0 % of gross accounts receivable. For the year ended May 31, 2016, two companies accounted for 25.3% of the purchases of raw materials. For the year ended May 31, 2015, one company accounted for 13.6 % of the purchases of raw materials. GEOGRAPHIC CONCENTRATION As of May 31, 2016 and 2015, approximately $659,000 and $530,000 of Biomerica's gross inventory and approximately $26,000 and $35,000, of Biomerica's property and equipment, net of accumulated depreciation was located in Mexicali, Mexico, respectively. CASH EQUIVALENTS Cash and cash equivalents consist of demand deposits and money market accounts with original maturities of less than three months. ACCOUNTS RECEIVABLE The Company extends unsecured credit to its customers on a regular basis. International accounts are required to prepay until they establish a history with the Company and at that time, they are extended credit at levels based on a number of criteria. Credit levels are approved by designated upper level management. Domestic customers are extended initial $500 credit limits until they establish a history with the Company or submit credit information. All increases in credit limits are also approved by designated upper level management. Management evaluates receivables on a quarterly basis and adjusts the allowance for doubtful accounts accordingly. Balances over ninety days old are usually reserved for. Occasionally certain long-standing customers, who routinely place large orders, will have unusually large receivables balances relative to the total gross receivables. Management monitors the payments for these large balances closely and very often requires payment of existing invoices before shipping new sales orders. INVENTORIES The Company values inventory at the lower of cost (determined using a combination of specific lot identification and the first-in, first-out methods) or market. Management periodically reviews inventory for excess quantities and obsolescence. Management evaluates quantities on hand, physical condition, and technical functionality as these characteristics may be impacted by anticipated customer demand for current products and new product introductions. The reserve is adjusted based on such evaluation, with a corresponding provision included in cost of sales. Abnormal amounts of idle facility expenses, freight, handling costs and wasted material are recognized as current period charges and the allocation of fixed production overhead is based on the normal capacity of the production facilities. Inventories approximate the following at May 31: 2016 2015 Raw materials $ 942,000 $ 958,000 Work in progress 690,000 831,000 Finished products 231,000 238,000 Total $ 1,863,000 $ 2,027,000 Reserves for inventory obsolescence are recorded as necessary to reduce obsolete inventory to estimated net realizable value or to specifically reserve for obsolete inventory that the Company intends to dispose of. For the years ended May 31, 2016 and 2015 inventory reserves were approximately $52,000 and $25,000, respectively. PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Expenditures for additions and major improvements are capitalized. Repairs and maintenance costs are charged to operations as incurred. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation or amortization are removed from the accounts, and gains or losses from retirements and dispositions are credited or charged to income. Depreciation and amortization are provided over the estimated useful lives of the related assets, ranging from 5 to 10 years, using the straight-line method. Leasehold improvements are amortized over the lesser of the estimated useful life of the asset or the term of the lease. Depreciation and amortization expense on property and equipment and leasehold improvements amounted to $156,283 and $178,219 for the years ended May 31, 2016 and 2015, respectively. INTANGIBLE ASSETS Intangible assets include trademarks, product rights, technology rights and patents, and are accounted for based on Accounting Standards Codification (“ASC”), ASC 350 “ Intangibles – Goodwill and Other Intangible assets are being amortized using the straight-line method over the useful life, not to exceed 18 years for marketing and distribution rights and purchased technology use rights, and 17 years for patents. Amortization amounted to $76,139 and $75,056 for the years ended May 31, 2016 and 2015, respectively. Intangible assets with indefinite lives such as perpetual licenses are not amortized but rather tested for impairment at least annually. The Company assesses the recoverability of these intangible assets by determining whether the amortization of the asset's balance over its remaining life can be recovered through projected undiscounted future cash flows. In July 2012, the FASB issued another update to ASC 350 Intangibles – Goodwill and Other: Testing Indefinite-Lived Intangible Assets for Impairment INVESTMENTS From time-to-time, the Company makes investments in privately-held companies. The Company determines whether the fair values of any investments in privately-held entities have declined below their carrying value whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. If the Company considers any such decline to be other than temporary (based on various factors, including historical financial results, and the overall health of the investee’s industry), a write-down to estimated fair value is recorded. The Company currently has not written down the investment and no events have occurred which could indicate the carrying value to be less than the fair value. Investments represent the Company’s investment in a Polish distributor which is primarily engaged in distributing medical devices. The Company owns approximately 6% of the investee, and accordingly, applies the cost method to account for the investment. Under the cost method, investments are recorded at cost, with gains and losses recognized as of the sale date, and income recorded when received. SHARE-BASED COMPENSATION The Company follows the guidance of the accounting provisions of ASC 718 “ Share-based Compensation In applying the Black-Scholes options-pricing model, assumptions are as follows: 2016 2015 Dividend yield 0% 0% Expected volatility 51.77-55.29% 49.53 -62.68% Risk free interest rate 1.55-1.75% 1.26 -1.67% Expected life 3.75-6.25 years 3.75-6.0 years REVENUE RECOGNITION Revenues from product sales are recognized at the time the product is shipped, customarily FOB shipping point, at which point title passes. An allowance is established when necessary for estimated returns as revenue is recognized. As of May 31, 2016 and 2015, the allowance for returns is $0. SHIPPING AND HANDLING FEES AND COSTS Shipping and handling fees billed to customers are required to be classified as net sales, and shipping and handling costs are required to be classified as either cost of sales or disclosed in the notes to the consolidated financial statements. The Company included shipping and handling fees billed to customers in net sales. The Company included shipping and handling costs associated with inbound freight and unreimbursed shipping to customers in cost of sales. RESEARCH AND DEVELOPMENT Research and development costs are expensed as incurred. The Company expensed $780,333 and $733,640 of research and development expenses during the years ended May 31, 2016 and 2015, respectively. INCOME TAXES The Company accounts for income taxes in accordance with ASC 740, “ Income Taxes The Company accounts for its uncertain tax provisions by using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not, based solely on the technical merits, that the position will be sustained in an audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the appropriate amount of the benefit to recognize. The amount of benefit to recognize is measured as the maximum amount which is more likely than not to be realized. The tax position is derecognized when it is no longer more likely than not capable of being sustained. On subsequent recognition and measurement the maximum amount which is more likely than not to be recognized at each reporting date will represent the Company’s best estimate, given the information available at the reporting date, although the outcome of the tax position is not absolute or final. Upon adopting the revisions in ASC 740, the Company elected to follow an accounting policy to classify accrued interest related to liabilities for income taxes within the “Interest expense” line and penalties related to liabilities for income taxes within the “Other expense” line of the consolidated statements of operations and comprehensive loss. ADVERTISING COSTS The Company reports the cost of all advertising as expense in the period in which those costs are incurred. Advertising costs were approximately $2,000 and $6,000 for the years ended May 31, 2016 and 2015, respectively. FOREIGN CURRENCY TRANSLATION The subsidiary located in Germany operates primarily using local functional currency. Accordingly, assets and liabilities of this subsidiary are translated using exchange rates in effect at the end of the period, and revenues and costs are translated using average exchange rates for the period. The subsidiary in Mexico, although not operating, has two bank accounts which according to exchange rates in effect at the end of each period need to be adjusted for that fluctuation. The resulting adjustments are presented as a separate component of accumulated other comprehensive loss. DEFERRED RENT Incentive payments received from landlords are recorded as deferred lease incentives and are amortized over the underlying lease term on a straight-line basis as a reduction of rent expense. When the terms of an operating lease provide for periods of free rent, rent concessions, and/or rent escalations, the Company establishes a deferred rent liability for the difference between the scheduled rent payment and the straight-line rent expense recognized. This deferred rent liability is amortized over the underlying lease term on a straight-line basis as a reduction of rent expense. NET LOSS PER SHARE Basic loss per share is computed as net loss divided by the weighted average number of common shares outstanding for the period. Diluted loss per share reflects the potential dilution that could occur from common shares issuable through stock options, warrants and other convertible securities using the treasury stock method. The total amount of anti-dilutive options not included in the loss per share calculation for the years ended May 31, 2016 and 2015 were 1,199,000 and 1,148,000 respectively. The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted earnings per share computations: For the Years Ended May 31 2016 2015 Numerator for basic and diluted net loss per common share $ (1,499,787) $ (331,410) Denominator for basic net loss per common share 7,626,078 7,552,262 Effect of dilutive securities: Options -- -- Denominator for diluted net loss per common share 7,626,078 7,552,262 Basic net loss per common share $ (0.20) $ (0.04) Diluted net loss per common share $ (0.20) $ (0.04) SEGMENT REPORTING ASC 280, “ Segment Reporting REPORTING COMPREHENSIVE LOSS Comprehensive loss represents net loss and any revenues, expenses, gains and losses that, under GAAP, are excluded from net loss and recognized directly as a component of shareholders’ equity. Accumulated other comprehensive loss consists solely of foreign currency translation adjustments. RECENT ACCOUNTING PRONOUNCEMENTS In February 2013, the FASB issued ASU No. 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (“ASU 2013-04”) In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers” (ASU 2014-09). In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”) On November 20, 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (“ASU-2015-17”) On January 5, 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU-2016-01”). On February 25, 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU-2016-02”) On March 30, 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Other recent ASU’s issued by the FASB and guidance issued by the Securities and Exchange Commission did not, or are not believed by management to have a material effect on the Company’s present or future consolidated financial statements. RECLASSIFICATION The Company reclassified the Deferred Tax Asset reported in the prior fiscal year under Current Assets to present the Deferred Tax Asset as non-current in accordance with ASU 2015-17. |
INTANGIBLE ASSETS, NET
| INTANGIBLE ASSETS, NET | 12 Months Ended |
| May 31, 2016 | |
| Disclosure Text Block [Abstract] | |
| Intangible Assets Disclosure [Text Block] | 3. INTANGIBLE ASSETS, NET Intangible assets, net of accumulated amortization, consist of the following at May 31: 2016 2015 Patents and licenses $ 509,485 $ 505,849 Less accumulated amortization (260,684) (184,545) Intangible Assets, Net $ 248,801 $ 321,304 Expected amortization of intangible assets for the years ending May 31: 2017 $ 73,418 2018 70,108 2019 64,149 2020 21,138 2021 12,181 Thereafter 7,807 Total $ 248,801 |
ACCOUNTS PAYABLE AND ACCRUED EX
| ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 12 Months Ended |
| May 31, 2016 | |
| Payables and Accruals [Abstract] | |
| Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 4. ACCOUNTS PAYABLE AND ACCRUED EXPENSES The Company’s accounts payable and accrued expense balances consist of the following at May 31: 2016 2015 Accounts payable $ 325,984 $ 356,565 Deferred rent 7,501 35,574 Accounts payable and accrued expenses, Total $ 333,485 $ 392,139 |
SHAREHOLDERS' EQUITY
| SHAREHOLDERS' EQUITY | 12 Months Ended |
| May 31, 2016 | |
| Stockholders' Equity Note [Abstract] | |
| Stockholders' Equity Note Disclosure [Text Block] | 5. SHAREHOLDERS' EQUITY STOCK OPTION AND RESTRICTED STOCK PLANS In August 1999, the Company adopted a stock option and restricted stock plan (the "1999 Plan") which provides that non-qualified options and incentive stock options and restricted stock covering an aggregate of 1,000,000 shares of the Company's unissued common stock may be granted to affiliates, employees or consultants of the Company. As of January 1, of each calendar year, commencing January 1, 2000, this amount is subject to automatic annual increases equal to the lesser of 1.5% of the total number of outstanding common shares, assuming conversion of convertible securities, or 500,000 shares. The 1999 plan expired in November 2009. Options granted under the 1999 Plan were granted at prices not less than 80% of the then fair market value of the common stock and expired not more than 10 years after the date of grant. In August 2010, the Company adopted a stock option and restricted stock plan (the "2010 Plan") which provides that non-qualified options and incentive stock options and restricted stock covering an aggregate of 850,000 shares of the Company's unissued common stock may be granted to affiliates, employees or consultants of the Company. This plan was approved by shareholders in December 2010. The 2010 Plan expires in December 2020. Options granted under the 2010 Plan will be granted at prices not less than 80% of the then fair market value of the common stock and will expire not more than 10 years after the date of grant. In December 2014, the Company adopted a stock option and restricted stock plan (the "2014 Plan") which provides that non-qualified options and incentive stock options and restricted stock covering an aggregate of 850,000 shares of the Company's unissued common stock may be granted to affiliates, employees or consultants of the Company. This plan was approved by shareholders in December 2014. The 2014 Plan expires in December 2024. Options granted under the 2014 Plan will be granted at prices not less than 80% of the then fair market value of the common stock and will expire not more than 10 years after the date of grant. Activity as to stock options outstanding are as follows: NUMBER OF STOCK OPTIONS PRICE RANGE PER SHARE WEIGHTED AVERAGE EXERCISE PRICE Options outstanding at May 31, 2014 860,500 $0.38-$0.84 $0.51 Options granted 356,000 $0.82-$0.85 $0.82 Options exercised (23,000) $0.38-$0.71 $0.42 Options canceled or expired (45,500) $0.43-$0.85 $0.72 Options outstanding at May 31, 2015 1,148,000 $0.38-$0.85 $0.60 Options granted 345,000 $1.04-$1.20 $1.17 Options exercised (269,625) $0.38-$0.84 $0.41 Options canceled or expired (24,375) $0.43-$1.04 $0.74 Options outstanding at May 31, 2016 1,199,000 $0.43-$1.20 $0.81 The weighted average fair value of options granted during 2016 and 2015 was $1.17 and $0.82, respectively. The aggregate intrinsic value of options exercised during 2016 and 2015 was approximately $256,000 and $11,000 respectively. The aggregate intrinsic value of options outstanding at May 31, 2016 and 2015 was approximately $952,000 and $376,000, respectively. The aggregate intrinsic value of options vested and exercisable at May 31, 2016 and 2015 was approximately $542,000 and $284,000, respectively. Activity as to non-vested stock options is as follows: STOCK OPTIONS WEIGHTED AVERAGE AVERAGE GRANT DATE FAIR VALUE NUMBER OF SHARES Nonvested shares at May 31,2015 527,125 $ 0.75 Granted 345,000 $ 1.17 Vested/Issued (179,250) $ 0.66 Forfeited (19,625) $ 0.77 Nonvested shares at May 31,2016 673,250 $ 0.99 At May 31, 2016, total compensation cost related to non-vested stock option awards not yet recognized totaled approximately $63,000. The weighted-average period over which this amount is expected to be recognized is 3.18 years. The weighted average remaining contractual term of options that were exercisable at May 31, 2016 was 2.27 years. The following summarizes information about all of the Company's stock options outstanding at May 31, 2016. These options are comprised of those granted under the 1999, 2010 and 2014 plans. WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE IN YEARS WEIGHTED AVERAGE EXERCISE PRICE NUMBER EXERCISABLE AT MAY 31, 2016 NUMBER OUTSTANDING 05/31/2016 WEIGHTED AVERAGE EXERCISE PRICE RANGE OF EXERCISE PRICES $0.43 311,750 0.61 $0.43 311,750 $0.43 $ 0.71 - $ 0.85 545,250 4.23 $0.79 214,000 $0.76 $ 1.04 - $ 1.20 342,000 8.59 $1.17 -- -- STOCK ACTIVITY During the fiscal year ended May 31, 2015, options to purchase 23,000 shares of common stock were exercised at prices ranging from $0.38 to $0.71. Total proceeds to the Company were $9,560. During the fiscal year ended May 31, 2016, options to purchase 269,625 shares of common stock were exercised at prices ranging from $0.38 to $0.84. Total proceeds to the Company were $109,936. During the fiscal year ended May 31, 2016, the Company sold 333,334 shares of its common stock at a price of $3.00 per share for net proceeds of $995,978. |
INCOME TAXES
| INCOME TAXES | 12 Months Ended |
| May 31, 2016 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax Disclosure [Text Block] | 6. INCOME TAXES Income tax (expense) benefit from continuing operations for the years ended May 31, 2016 and 2015 consists of the following: 2016 2015 Current: U.S. Federal $ - $ - State and local (800) 17,024 Total current (800) 17,024 Deferred: U.S. Federal (579,414) 267,418 State and local (123,586) 30,582 Total deferred (703,000) 298,000 Income tax (expense) benefit $ (703,800) $ 315,024 Income tax benefit (expense) from continuing operations differs from the amounts computed by applying the U.S. Federal income tax rate of 35 percent to pretax income as a result of the following: Years ended May 31, 2016 2015 Computed "expected" tax benefit $ 274,479 $ 226,024 Increase (reduction) in income taxes resulting from: Change in valuation allowance (1,038,000) -- State income taxes, net of federal benefit 34,276 27,000 Research and development tax credits 21,844 63,000 Permanent tax differences and other 3,601 (1,000) Income tax (expense) (benefit) $ (703,800) $ 315,024 The tax effect of significant temporary differences is presented below: Years ended May 31, 2016 2015 Deferred tax assets: Accounts receivable, principally due to allowance for doubtful accounts and sales returns $ 3,000 $ 7,000 Inventory valuation 11,000 9,000 Compensated absences and deferred payroll 60,000 45,000 Net operating loss carryforwards 705,000 484,000 Tax credit carryforwards 268,000 239,000 Deferred rent expense 3,000 13,000 Other 82,000 56,000 Total deferred tax assets 1,132,000 853,000 Less valuation allowance (1,038,000) -- Deferred Tax Asset Net 94,000 853,000 Deferred tax liabilities: Accumulated depreciation of property and equipment (53,000) (109,000) Net deferred tax asset $ 41,000 $ 744,000 The Company has provided a valuation allowance of approximately $1,038,000 and $0 as of May 31, 2016 and 2015, respectively. The net change in the valuation allowance for the years ended May 31, 2016 and 2015 was an increase of approximately $1,038,000 and $0, respectively. At May 31, 2016 and 2015, the Company has federal income tax net operating loss carryforwards of approximately $2,247,000 and $1,445,000 respectively. Of the reported net operating loss carryforwards, approximately $467,000 are related to windfall tax benefits from the exercise of the Company’s stock options by certain employees. Pursuant to ASC 718, the federal benefit of approximately $163,000 associated with this portion of the net operating loss will be credited to additional paid-in capital when the tax benefits are actually realized. The federal net operating loss carryforwards begin to expire in 2030. At May 31, 2016 and 2015, the Company has California state income tax net operating loss carryforwards of approximately $1,417,000 and $913,000, respectively. At May 31, 2016, the Company has federal research and development tax credit carryforward of approximately $233,000. The federal credits begin to expire in 2027. The Company also had similar credit carryforwards for state purposes of $35,000 at May 31, 2016. Pursuant to Internal Revenue Code Sections 382 and 383, annual use of the Company's net operating loss ("NOL") and credit carryforwards may be limited by statute because of a cumulative change in ownership of more than 50%. Pursuant to Sections 382 and 383 of the Code, the annual use of the Company's NOLs would be limited if there is a cumulative change of ownership (as that term is defined in Section 382(g) of the Code) of greater than 50% in a three year period. Based on management's analysis the Company does not believe that a cumulative change in ownership of greater than 50% has taken place. For the fiscal year ended May 31, 2016 and 2015, the Company did an analysis of its ASC 740 position and has not identified any uncertain tax positions as defined under ASC 740. Should such position be identified in the future and should the Company owe interest and penalties as a result of this, these would be recognized as interest expense and other expense, respectively, in the consolidated financial statements. The Company is no longer subject to any significant U.S. federal tax examinations by tax authorities for years before fiscal year 2012. |
BUSINESS SEGMENTS
| BUSINESS SEGMENTS | 12 Months Ended |
| May 31, 2016 | |
| Segment Reporting [Abstract] | |
| Segment Reporting Disclosure [Text Block] | 7. BUSINESS SEGMENTS The Company operates as one segment. Geographic information regarding net sales is approximately as follows: 2016 2015 Net sales: Europe $ 2,166,000 $ 2,716,000 United States 995,000 1,042,000 Asia 1,731,000 1,016,000 South America 67,000 21,000 Middle East 180,000 143,000 Other foreign 1,000 24,000 Total net sales $ 5,140,000 $ 4,962,000 |
COMMITMENTS AND CONTINGENCIES
| COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
| May 31, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies Disclosure [Text Block] | 8. COMMITMENTS AND CONTINGENCIES OPERATING LEASES On June 18, 2009 the Company entered into an agreement to lease a building in Irvine, California. The lease commenced September 1, 2009 and ends August 31, 2016. On November 30, 2015, the Company entered into the First Amendment to Lease wherein it exercised its option to extend its lease until August 31, 2021. The initial base rent for the lease extension is $21,000 per month, increasing to $23,637 through August 31, 2021. The security deposit of $22,080 remains the same. The following is a schedule of rent payments due under the terms of the lease extension: Years Ending May 31, 2016 $ 255,240 2017 257,670 2018 265,401 2019 273,369 2020 281,577 2021 70,911 Total $ 1,404,168 According to the terms of the lease, the Company is also responsible for routine repairs of the building and for certain increases in property tax. Total gross rent expense in the U.S. for fiscal 2016 and 2015 was $235,927 and $236,154, respectively. Rent expense for the Mexico facility for fiscal 2016 and 2015 was $36,234 and $36,000 respectively. The Company also has various insignificant leases for office equipment. RETIREMENT SAVINGS PLAN Effective September 1, 1986, the Company established a 401(k) plan for the benefit of its employees. The plan permits eligible employees to contribute to the plan up to the maximum percentage of total annual compensation allowable under the limits of Internal Revenue Code Sections 415, 401(k) and 404. The Company, at the discretion of its Board of Directors, may make contributions to the plan in amounts determined by the Board each year. No contributions by the Company have been made since the plan's inception. LITIGATION The Company is, from time to time, involved in legal proceedings, claims and litigation arising in the ordinary course of business. While the amounts claimed may be substantial, the ultimate liability cannot presently be determined because of considerable uncertainties that exist. Therefore, it is possible the outcome of such legal proceedings, claims and litigation could have a material effect on quarterly or annual operating results or cash flows when resolved in a future period. However, based on facts currently available, management believes such matters will not have a material adverse effect on the Company's consolidated financial position, results of operations or cash flows. There were no legal proceedings pending as of May 31, 2016. CONTRACTS The Company has two royalty agreements in which it has obtained rights to manufacture and market certain products for the life of the products. Royalty expense of approximately $24,000 is included in cost of sales for these agreements for each of the years ended May 31, 2016 and 2015. Beginning in fiscal 2011 the Company is only required to pay royalties for one of the products due to the fact that the company that was paid the royalties no longer provides materials to make that product, which was part of the original agreement. Sales of products manufactured under these agreements comprise approximately 3.5% and 3.2 % of total sales for the years ended May 31, 2016 and 2015, respectively. The Company may license other products or technology in the future as it deems necessary for conducting business. On May 25, 2016, Biomerica, Inc. ("Biomerica" or the "Company") entered into an Exclusive Marketing License Agreement with Celtis Pharm Co., Ltd., a medical company in the Republic of Korea (South Korea) (“Celtis”), that grants to Celtis an exclusive license to market Biomerica’s new InFoods® IBS products (“IBS Products”). The IBS Products identify patient-specific trigger foods that exacerbate/alleviate IBS (Irritable Bowel Disease) symptoms. The Exclusive Marketing License Agreement only allows for Biomerica’s IBS Products to be sold by Celtis in the Republic of Korea with a possibility of expansion of territory in the future upon mutually agreeable negotiations. The term of the agreement is for a period of five years plus an additional two year term for Korean FDA clearance and begins after Biomerica first receives final clearance for sale of the IBS Products in the United States. The agreement may be cancelled if Biomerica has not obtained final approval or clearance for sale of the IBS Products in the United States from the United States FDA on or before December 31, 2017, or another date mutually agreed upon in writing. Biomerica is also obligated to maintain a full quality assurance system for the IBS Products following the harmonized standards according to Annex IV of Directive 98/79/EC. Celtis, at its sole cost and expense, must use its commercially reasonable good faith efforts to obtain Korean FDA approval or clearance of the IBS Products. The terms of the Exclusive Marketing License Agreement provide up to $1.25 million in exclusivity fees based on certain milestones including Biomerica’s starting clinical trials in the United States, receipt of US FDA clearance and Celtis’ first sales of IBS Products in Korea. Should Biomerica not receive US FDA clearance for the IBS Products, $250,000 of the up-front exclusivity fee shall convert into Biomerica common stock at the price of $3.00 per share for a total of 83,333 shares. Additionally, the Agreement provides for royalty fees paid to Biomerica that are based on a percentage of net sales of the IBS Products in Korea. Minimum royalties in order to retain the exclusive South Korean license total $7.25 million starting at Korean FDA approval or clearance, which in no case will be later than May 31, 2019, or a date mutually agreed upon in writing, and continue for five years or longer if Korean FDA approval is obtained earlier than May 31, 2019. Biomerica will sell the IBS Products to Celtis at a cost plus mark-up basis. On May 25, 2016, in connection with the Exclusive Marketing License Agreement, Biomerica, Inc. consummated a Stock Purchase Agreement with Celtis Pharm Co., Ltd. (“Celtis”) of South Korea in which Celtis agreed to purchase 333,334 shares of Biomerica’s common stock at the purchase price of $3.00 per share for an aggregate purchase price of $1,000,002 (the “Private Placement”). The shares were offered and sold in the Private Placement to Celtis, an accredited investor, without registration under the Securities Act of 1933, as amended (the “Securities Act”), or state securities laws, in reliance on the exemptions provided by Section 4(2) of the Securities Act and Regulation S promulgated thereunder and in reliance on similar exemptions under applicable state laws. The Company has other royalty agreements, however they are not considered material. |
SUBSEQUENT EVENT
| SUBSEQUENT EVENT | 12 Months Ended |
| May 31, 2016 | |
| Subsequent Events [Abstract] | |
| Subsequent Events [Text Block] | 9. SUBSEQUENT EVENTS On July 14, 2016 the Board of Directors of the Company voted to expand its board of directors from five to six members and voted to elect Dr. Mark Sirgo to fill the vacant position. A non-qualified stock option to purchase 35,000 shares of the Company’s common stock was granted to Dr. Sirgo at the time he joined the Board of Directors. The option was granted at an exercise price of $1.52, is exercisable 25% on July 14, 2017 and then 25% each year thereafter. The option will expire July14, 2026. On June 3, 2016 the Company granted a non-qualified option to purchase 20,000 shares of Biomerica common stock to a consultant. The option was granted at an exercise price of $1.61, is exercisable 25% on June 3, 2017 and then 25% each year thereafter. The option expires June 3, 2021. On August 23, 2016, Nasdaq (National Association of Securities Dealers Automated Quotations) approved the Company’s application to list its common stock on The Nasdaq Capital Market. The Company trades under the trading symbol BMRA. The Company’s common stock started trading on Nasdaq on August 26, 2016. |
Accounting Policies, by Policy
| Accounting Policies, by Policy (Policies) | 12 Months Ended |
| May 31, 2016 | |
| Accounting Policies [Abstract] | |
| Consolidation, Policy [Policy Text Block] | PRINCIPLES OF CONSOLIDATION The consolidated financial statements for the years ended May 31, 2016 and 2015 include the accounts of Biomerica, Inc. ("Biomerica") as well as its German subsidiary and Mexican subsidiary. The Mexican subsidiary has not begun operations. All significant intercompany accounts and transactions have been eliminated in consolidation. |
| Use of Estimates, Policy [Policy Text Block] | ACCOUNTING ESTIMATES The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reported period. Actual results could materially differ from those estimates. |
| Fair Value Measurement, Policy [Policy Text Block] | FAIR VALUE OF FINANCIAL INSTRUMENTS The Company has financial instruments whereby the fair market value of the financial instruments could be different than that recorded on a historical basis. The Company's financial instruments consist of its cash and cash equivalents, accounts receivable, and accounts payable. The carrying amounts of the Company's financial instruments approximate their fair values. |
| Concentration Risk, Credit Risk, Policy [Policy Text Block] | CONCENTRATION OF CREDIT RISK The Company maintains cash balances at certain financial institutions in excess of amounts insured by federal agencies. The Company does not believe it is exposed to any significant credit risks. The Company provides credit in the normal course of business to customers throughout the United States and foreign markets. For the years ended May 31, 2016 and 2015, the Company had one distributor which accounted for 30.3% and 16.3%, respectively, of consolidated sales. The Company performs ongoing credit evaluations of its customers and requires prepayment in some circumstances. At May 31, 2016, two customers accounted for 60.3% of gross accounts receivable. At May 31, 2015, two customers accounted for 53.0 % of gross accounts receivable. For the year ended May 31, 2016, two companies accounted for 25.3% of the purchases of raw materials. For the year ended May 31, 2015, one company accounted for 13.6 % of the purchases of raw materials. |
| Concentration Risk Geographic Policy [Policy Text Block] | GEOGRAPHIC CONCENTRATION As of May 31, 2016 and 2015, approximately $659,000 and $530,000 of Biomerica's gross inventory and approximately $26,000 and $35,000, of Biomerica's property and equipment, net of accumulated depreciation was located in Mexicali, Mexico, respectively. |
| Cash and Cash Equivalents, Policy [Policy Text Block] | CASH EQUIVALENTS Cash and cash equivalents consist of demand deposits and money market accounts with original maturities of less than three months. |
| Trade and Other Accounts Receivable, Policy [Policy Text Block] | ACCOUNTS RECEIVABLE The Company extends unsecured credit to its customers on a regular basis. International accounts are required to prepay until they establish a history with the Company and at that time, they are extended credit at levels based on a number of criteria. Credit levels are approved by designated upper level management. Domestic customers are extended initial $500 credit limits until they establish a history with the Company or submit credit information. All increases in credit limits are also approved by designated upper level management. Management evaluates receivables on a quarterly basis and adjusts the allowance for doubtful accounts accordingly. Balances over ninety days old are usually reserved for. Occasionally certain long-standing customers, who routinely place large orders, will have unusually large receivables balances relative to the total gross receivables. Management monitors the payments for these large balances closely and very often requires payment of existing invoices before shipping new sales orders. |
| Inventory, Policy [Policy Text Block] | INVENTORIES The Company values inventory at the lower of cost (determined using a combination of specific lot identification and the first-in, first-out methods) or market. Management periodically reviews inventory for excess quantities and obsolescence. Management evaluates quantities on hand, physical condition, and technical functionality as these characteristics may be impacted by anticipated customer demand for current products and new product introductions. The reserve is adjusted based on such evaluation, with a corresponding provision included in cost of sales. Abnormal amounts of idle facility expenses, freight, handling costs and wasted material are recognized as current period charges and the allocation of fixed production overhead is based on the normal capacity of the production facilities. Inventories approximate the following at May 31: 2016 2015 Raw materials $ 942,000 $ 958,000 Work in progress 690,000 831,000 Finished products 231,000 238,000 Total $ 1,863,000 $ 2,027,000 Reserves for inventory obsolescence are recorded as necessary to reduce obsolete inventory to estimated net realizable value or to specifically reserve for obsolete inventory that the Company intends to dispose of. For the years ended May 31, 2016 and 2015 inventory reserves were approximately $52,000 and $25,000, respectively. |
| Property, Plant and Equipment, Policy [Policy Text Block] | PROPERTY AND EQUIPMENT Property and equipment are stated at cost. Expenditures for additions and major improvements are capitalized. Repairs and maintenance costs are charged to operations as incurred. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation or amortization are removed from the accounts, and gains or losses from retirements and dispositions are credited or charged to income. Depreciation and amortization are provided over the estimated useful lives of the related assets, ranging from 5 to 10 years, using the straight-line method. Leasehold improvements are amortized over the lesser of the estimated useful life of the asset or the term of the lease. Depreciation and amortization expense on property and equipment and leasehold improvements amounted to $156,283 and $178,219 for the years ended May 31, 2016 and 2015, respectively. |
| Intangible Assets, Finite-Lived, Policy [Policy Text Block] | INTANGIBLE ASSETS Intangible assets include trademarks, product rights, technology rights and patents, and are accounted for based on Accounting Standards Codification (“ASC”), ASC 350 “ Intangibles – Goodwill and Other Intangible assets are being amortized using the straight-line method over the useful life, not to exceed 18 years for marketing and distribution rights and purchased technology use rights, and 17 years for patents. Amortization amounted to $76,139 and $75,056 for the years ended May 31, 2016 and 2015, respectively. Intangible assets with indefinite lives such as perpetual licenses are not amortized but rather tested for impairment at least annually. The Company assesses the recoverability of these intangible assets by determining whether the amortization of the asset's balance over its remaining life can be recovered through projected undiscounted future cash flows. In July 2012, the FASB issued another update to ASC 350 Intangibles – Goodwill and Other: Testing Indefinite-Lived Intangible Assets for Impairment |
| Investment, Policy [Policy Text Block] | INVESTMENTS From time-to-time, the Company makes investments in privately-held companies. The Company determines whether the fair values of any investments in privately-held entities have declined below their carrying value whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. If the Company considers any such decline to be other than temporary (based on various factors, including historical financial results, and the overall health of the investee’s industry), a write-down to estimated fair value is recorded. The Company currently has not written down the investment and no events have occurred which could indicate the carrying value to be less than the fair value. Investments represent the Company’s investment in a Polish distributor which is primarily engaged in distributing medical devices. The Company owns approximately 6% of the investee, and accordingly, applies the cost method to account for the investment. Under the cost method, investments are recorded at cost, with gains and losses recognized as of the sale date, and income recorded when received. |
| Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | SHARE-BASED COMPENSATION The Company follows the guidance of the accounting provisions of ASC 718 “ Share-based Compensation In applying the Black-Scholes options-pricing model, assumptions are as follows: 2016 2015 Dividend yield 0% 0% Expected volatility 51.77-55.29% 49.53 -62.68% Risk free interest rate 1.55-1.75% 1.26 -1.67% Expected life 3.75-6.25 years 3.75-6.0 years |
| Revenue Recognition, Policy [Policy Text Block] | REVENUE RECOGNITION Revenues from product sales are recognized at the time the product is shipped, customarily FOB shipping point, at which point title passes. An allowance is established when necessary for estimated returns as revenue is recognized. As of May 31, 2016 and 2015, the allowance for returns is $0. |
| Shipping and Handling Cost, Policy [Policy Text Block] | SHIPPING AND HANDLING FEES AND COSTS Shipping and handling fees billed to customers are required to be classified as net sales, and shipping and handling costs are required to be classified as either cost of sales or disclosed in the notes to the consolidated financial statements. The Company included shipping and handling fees billed to customers in net sales. The Company included shipping and handling costs associated with inbound freight and unreimbursed shipping to customers in cost of sales. |
| Research and Development Expense, Policy [Policy Text Block] | RESEARCH AND DEVELOPMENT Research and development costs are expensed as incurred. The Company expensed $780,333 and $733,640 of research and development expenses during the years ended May 31, 2016 and 2015, respectively. |
| Income Tax, Policy [Policy Text Block] | INCOME TAXES The Company accounts for income taxes in accordance with ASC 740, “ Income Taxes The Company accounts for its uncertain tax provisions by using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not, based solely on the technical merits, that the position will be sustained in an audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the appropriate amount of the benefit to recognize. The amount of benefit to recognize is measured as the maximum amount which is more likely than not to be realized. The tax position is derecognized when it is no longer more likely than not capable of being sustained. On subsequent recognition and measurement the maximum amount which is more likely than not to be recognized at each reporting date will represent the Company’s best estimate, given the information available at the reporting date, although the outcome of the tax position is not absolute or final. Upon adopting the revisions in ASC 740, the Company elected to follow an accounting policy to classify accrued interest related to liabilities for income taxes within the “Interest expense” line and penalties related to liabilities for income taxes within the “Other expense” line of the consolidated statements of operations and comprehensive loss. |
| Advertising Costs, Policy [Policy Text Block] | ADVERTISING COSTS The Company reports the cost of all advertising as expense in the period in which those costs are incurred. Advertising costs were approximately $2,000 and $6,000 for the years ended May 31, 2016 and 2015, respectively. |
| Foreign Currency Transactions and Translations Policy [Policy Text Block] | FOREIGN CURRENCY TRANSLATION The subsidiary located in Germany operates primarily using local functional currency. Accordingly, assets and liabilities of this subsidiary are translated using exchange rates in effect at the end of the period, and revenues and costs are translated using average exchange rates for the period. The subsidiary in Mexico, although not operating, has two bank accounts which according to exchange rates in effect at the end of each period need to be adjusted for that fluctuation. The resulting adjustments are presented as a separate component of accumulated other comprehensive loss. |
| Deferred Charges, Policy [Policy Text Block] | DEFERRED RENT Incentive payments received from landlords are recorded as deferred lease incentives and are amortized over the underlying lease term on a straight-line basis as a reduction of rent expense. When the terms of an operating lease provide for periods of free rent, rent concessions, and/or rent escalations, the Company establishes a deferred rent liability for the difference between the scheduled rent payment and the straight-line rent expense recognized. This deferred rent liability is amortized over the underlying lease term on a straight-line basis as a reduction of rent expense. |
| Earnings Per Share, Policy [Policy Text Block] | NET LOSS PER SHARE Basic loss per share is computed as net loss divided by the weighted average number of common shares outstanding for the period. Diluted loss per share reflects the potential dilution that could occur from common shares issuable through stock options, warrants and other convertible securities using the treasury stock method. The total amount of anti-dilutive options not included in the loss per share calculation for the years ended May 31, 2016 and 2015 were 1,199,000 and 1,148,000 respectively. The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted earnings per share computations: For the Years Ended May 31 2016 2015 Numerator for basic and diluted net loss per common share $ (1,499,787) $ (331,410) Denominator for basic net loss per common share 7,626,078 7,552,262 Effect of dilutive securities: Options -- -- Denominator for diluted net loss per common share 7,626,078 7,552,262 Basic net loss per common share $ (0.20) $ (0.04) Diluted net loss per common share $ (0.20) $ (0.04) |
| Segment Reporting, Policy [Policy Text Block] | SEGMENT REPORTING ASC 280, “ Segment Reporting |
| Comprehensive Income, Policy [Policy Text Block] | REPORTING COMPREHENSIVE LOSS Comprehensive loss represents net loss and any revenues, expenses, gains and losses that, under GAAP, are excluded from net loss and recognized directly as a component of shareholders’ equity. Accumulated other comprehensive loss consists solely of foreign currency translation adjustments. |
| New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS In February 2013, the FASB issued ASU No. 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date (“ASU 2013-04”) In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers” (ASU 2014-09). In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”) On November 20, 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (“ASU-2015-17”) On January 5, 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU-2016-01”). On February 25, 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU-2016-02”) On March 30, 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Other recent ASU’s issued by the FASB and guidance issued by the Securities and Exchange Commission did not, or are not believed by management to have a material effect on the Company’s present or future consolidated financial statements. |
| Reclassification, Policy [Policy Text Block] | RECLASSIFICATION The Company reclassified the Deferred Tax Asset reported in the prior fiscal year under Current Assets to present the Deferred Tax Asset as non-current in accordance with ASU 2015-17. |
SUMMARY OF SIGNIFICANT ACCOUN17
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
| May 31, 2016 | |
| Accounting Policies [Abstract] | |
| Schedule of Inventory, Current [Table Text Block] | 2016 2015 Raw materials $ 942,000 $ 958,000 Work in progress 690,000 831,000 Finished products 231,000 238,000 Total $ 1,863,000 $ 2,027,000 |
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2016 2015 Dividend yield 0% 0% Expected volatility 51.77-55.29% 49.53 -62.68% Risk free interest rate 1.55-1.75% 1.26 -1.67% Expected life 3.75-6.25 years 3.75-6.0 years |
| Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Years Ended May 31 2016 2015 Numerator for basic and diluted net loss per common share $ (1,499,787) $ (331,410) Denominator for basic net loss per common share 7,626,078 7,552,262 Effect of dilutive securities: Options -- -- Denominator for diluted net loss per common share 7,626,078 7,552,262 Basic net loss per common share $ (0.20) $ (0.04) Diluted net loss per common share $ (0.20) $ (0.04) |
INTANGIBLE ASSETS, NET (Tables)
| INTANGIBLE ASSETS, NET (Tables) | 12 Months Ended |
| May 31, 2016 | |
| Disclosure Text Block [Abstract] | |
| Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2016 2015 Patents and licenses $ 509,485 $ 505,849 Less accumulated amortization (260,684) (184,545) Intangible Assets, Net $ 248,801 $ 321,304 |
| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2017 $ 73,418 2018 70,108 2019 64,149 2020 21,138 2021 12,181 Thereafter 7,807 Total $ 248,801 |
ACCOUNTS PAYABLE AND ACCRUED 19
| ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) | 12 Months Ended |
| May 31, 2016 | |
| Payables and Accruals [Abstract] | |
| Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | 2016 2015 Accounts payable $ 325,984 $ 356,565 Deferred rent 7,501 35,574 Accounts payable and accrued expenses, Total $ 333,485 $ 392,139 |
SHAREHOLDERS' EQUITY (Tables)
| SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended |
| May 31, 2016 | |
| Stockholders' Equity Note [Abstract] | |
| Schedule of Share-based Compensation, Activity [Table Text Block] | NUMBER OF STOCK OPTIONS PRICE RANGE PER SHARE WEIGHTED AVERAGE EXERCISE PRICE Options outstanding at May 31, 2014 860,500 $0.38-$0.84 $0.51 Options granted 356,000 $0.82-$0.85 $0.82 Options exercised (23,000) $0.38-$0.71 $0.42 Options canceled or expired (45,500) $0.43-$0.85 $0.72 Options outstanding at May 31, 2015 1,148,000 $0.38-$0.85 $0.60 Options granted 345,000 $1.04-$1.20 $1.17 Options exercised (269,625) $0.38-$0.84 $0.41 Options canceled or expired (24,375) $0.43-$1.04 $0.74 Options outstanding at May 31, 2016 1,199,000 $0.43-$1.20 $0.81 |
| Schedule of Nonvested Share Activity [Table Text Block] | STOCK OPTIONS WEIGHTED AVERAGE AVERAGE GRANT DATE FAIR VALUE NUMBER OF SHARES Nonvested shares at May 31,2015 527,125 $ 0.75 Granted 345,000 $ 1.17 Vested/Issued (179,250) $ 0.66 Forfeited (19,625) $ 0.77 Nonvested shares at May 31,2016 673,250 $ 0.99 |
| Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE IN YEARS WEIGHTED AVERAGE EXERCISE PRICE NUMBER EXERCISABLE AT MAY 31, 2016 NUMBER OUTSTANDING 05/31/2016 WEIGHTED AVERAGE EXERCISE PRICE RANGE OF EXERCISE PRICES $0.43 311,750 0.61 $0.43 311,750 $0.43 $ 0.71 - $ 0.85 545,250 4.23 $0.79 214,000 $0.76 $ 1.04 - $ 1.20 342,000 8.59 $1.17 -- -- |
INCOME TAXES (Tables)
| INCOME TAXES (Tables) | 12 Months Ended |
| May 31, 2016 | |
| Income Tax Disclosure [Abstract] | |
| Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2016 2015 Current: U.S. Federal $ - $ - State and local (800) 17,024 Total current (800) 17,024 Deferred: U.S. Federal (579,414) 267,418 State and local (123,586) 30,582 Total deferred (703,000) 298,000 Income tax (expense) benefit $ (703,800) $ 315,024 |
| Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years ended May 31, 2016 2015 Computed "expected" tax benefit $ 274,479 $ 226,024 Increase (reduction) in income taxes resulting from: Change in valuation allowance (1,038,000) -- State income taxes, net of federal benefit 34,276 27,000 Research and development tax credits 21,844 63,000 Permanent tax differences and other 3,601 (1,000) Income tax (expense) (benefit) $ (703,800) $ 315,024 |
| Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Years ended May 31, 2016 2015 Deferred tax assets: Accounts receivable, principally due to allowance for doubtful accounts and sales returns $ 3,000 $ 7,000 Inventory valuation 11,000 9,000 Compensated absences and deferred payroll 60,000 45,000 Net operating loss carryforwards 705,000 484,000 Tax credit carryforwards 268,000 239,000 Deferred rent expense 3,000 13,000 Other 82,000 56,000 Total deferred tax assets 1,132,000 853,000 Less valuation allowance (1,038,000) -- Deferred Tax Asset Net 94,000 853,000 Deferred tax liabilities: Accumulated depreciation of property and equipment (53,000) (109,000) Net deferred tax asset $ 41,000 $ 744,000 |
BUSINESS SEGMENTS (Tables)
| BUSINESS SEGMENTS (Tables) | 12 Months Ended |
| May 31, 2016 | |
| Segment Reporting [Abstract] | |
| Revenue from External Customers by Geographic Areas [Table Text Block] | 2016 2015 Net sales: Europe $ 2,166,000 $ 2,716,000 United States 995,000 1,042,000 Asia 1,731,000 1,016,000 South America 67,000 21,000 Middle East 180,000 143,000 Other foreign 1,000 24,000 Total net sales $ 5,140,000 $ 4,962,000 |
COMMITMENTS AND CONTINGENCIES (
| COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
| May 31, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Ending May 31, 2016 $ 255,240 2017 257,670 2018 265,401 2019 273,369 2020 281,577 2021 70,911 Total $ 1,404,168 |
SUMMARY OF SIGNIFICANT ACCOUN24
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Property, Plant and Equipment, Net | $ 380,659 | $ 445,386 |
| Threshold Period Past Due for Write-off of Trade Accounts Receivable | 90 days | |
| Inventory Valuation Reserves | $ 52,000 | 25,000 |
| Depreciation, Depletion and Amortization | 156,283 | 178,219 |
| Amortization of Intangible Assets | 76,139 | 75,056 |
| Revenue Recognition, Sales Returns, Reserve for Sales Returns | 0 | 0 |
| Research and Development Expense | 780,333 | 733,640 |
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 1,038,000 | 0 |
| Advertising Expense | $ 2,000 | $ 6,000 |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 1,199,000 | 1,148,000 |
| Domestic Customer [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Accounts Receivable Initial Credit Limit | $ 500 | |
| MX [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Inventory, Gross | 659,000 | $ 530,000 |
| Property, Plant and Equipment, Net | $ 26,000 | $ 35,000 |
| Investment In Polish Distributor [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Equity Method Investment, Ownership Percentage | 6.00% | |
| Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Concentration Risk, Percentage | 30.30% | 16.30% |
| Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Concentration Risk, Percentage | 60.30% | 53.00% |
| Cost of Goods, Product Line [Member] | Supplier Concentration Risk [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Concentration Risk, Percentage | 25.30% | 13.60% |
| Minimum [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Property, Plant and Equipment, Useful Life | 5 years | |
| Maximum [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Property, Plant and Equipment, Useful Life | 10 years | |
| Maximum [Member] | Marketing-Related Intangible Assets [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Finite-Lived Intangible Asset, Useful Life | 18 years | |
| Maximum [Member] | Patents [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||
| Finite-Lived Intangible Asset, Useful Life | 17 years | |
SUMMARY OF SIGNIFICANT ACCOUN25
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Inventories - USD ($) | May 31, 2016 | May 31, 2015 |
| Inventories [Abstract] | ||
| Raw materials | $ 942,000 | $ 958,000 |
| Work in progress | 690,000 | 831,000 |
| Finished products | 231,000 | 238,000 |
| Total | $ 1,863,091 | $ 2,027,372 |
SUMMARY OF SIGNIFICANT ACCOUN26
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Share based compensation assumptions | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Share based compensation assumptions [Line Items] | ||
| Dividend yield | 0.00% | 0.00% |
| Minimum [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Share based compensation assumptions [Line Items] | ||
| Expected volatility | 51.77% | 49.53% |
| Risk free interest rate | 1.55% | 1.26% |
| Expected life | 3 years 9 months | 3 years 9 months |
| Maximum [Member] | ||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Share based compensation assumptions [Line Items] | ||
| Expected volatility | 55.29% | 62.68% |
| Risk free interest rate | 1.75% | 1.67% |
| Expected life | 6 years 3 months | 6 years |
SUMMARY OF SIGNIFICANT ACCOUN27
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Reconciliation of the numerators and denominators of the basic and diluted earnings per share computations - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| Reconciliation of the numerators and denominators of the basic and diluted earnings per share computations [Abstract] | ||
| Numerator for basic and diluted net loss per common share (in Dollars) | $ (1,499,787) | $ (331,410) |
| Denominator for basic net loss per common share | 7,626,078 | 7,552,262 |
| Effect of dilutive securities: | ||
| Options | ||
| Denominator for diluted net loss per common share | 7,626,078 | 7,552,262 |
| Basic net loss per common share (in Dollars per share) | $ (0.20) | $ (0.04) |
| Diluted net loss per common share (in Dollars per share) | $ (0.20) | $ (0.04) |
INTANGIBLE ASSETS, NET (Details
| INTANGIBLE ASSETS, NET (Details) - Intangible assets, net - USD ($) | May 31, 2016 | May 31, 2015 |
| Intangible assets, net [Abstract] | ||
| Patents and licenses | $ 509,485 | $ 505,849 |
| Less accumulated amortization | (260,684) | (184,545) |
| Intangible Assets, Net | $ 248,801 | $ 321,304 |
INTANGIBLE ASSETS, NET (Detai29
| INTANGIBLE ASSETS, NET (Details) - Amortization of Intangible Assets | May 31, 2016USD ($) |
| Amortization of Intangible Assets [Abstract] | |
| 2,017 | $ 73,418 |
| 2,018 | 70,108 |
| 2,019 | 64,149 |
| 2,020 | 21,138 |
| 2,021 | 12,181 |
| Thereafter | 7,807 |
| Total | $ 248,801 |
ACCOUNTS PAYABLE AND ACCRUED 30
| ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - Accounts payable and accrued expense balances - USD ($) | May 31, 2016 | May 31, 2015 |
| Accounts payable and accrued expense balances [Abstract] | ||
| Accounts payable | $ 325,984 | $ 356,565 |
| Deferred rent | 7,501 | 35,574 |
| Accounts payable and accrued expenses, Total | $ 333,485 | $ 392,139 |
SHAREHOLDERS' EQUITY (Details)
| SHAREHOLDERS' EQUITY (Details) - USD ($) | 12 Months Ended | ||
| May 31, 2016 | May 31, 2015 | Aug. 31, 1999 | |
| SHAREHOLDERS' EQUITY (Details) [Line Items] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 1.17 | $ 0.82 | |
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 256,000 | $ 11,000 | |
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 952,000 | 376,000 | |
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 542,000 | $ 284,000 | |
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 63,000 | ||
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 65 days | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 2 years 98 days | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 269,625 | 23,000 | |
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share) | $ 0.38 | $ 0.38 | |
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share) | $ 0.84 | $ 0.71 | |
| Proceeds from Stock Options Exercised | $ 109,936 | $ 9,560 | |
| Stock Issued During Period, Shares, New Issues (in Shares) | 333,334 | ||
| Shares Issued, Price Per Share (in Dollars per share) | $ 3 | ||
| Stock Issued During Period, Value, New Issues | $ 995,978 | ||
| 1999 Plan [Member] | |||
| SHAREHOLDERS' EQUITY (Details) [Line Items] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,000,000 | ||
| Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized AnnualIncrement Threshold Percentage | 1.50% | ||
| Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized Annual Increment Threshold Number (in Shares) | 500,000 | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 80.00% | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
| 2010 Plan [Member] | |||
| SHAREHOLDERS' EQUITY (Details) [Line Items] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 850,000 | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 80.00% | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
| 2014 Plan [Member] | |||
| SHAREHOLDERS' EQUITY (Details) [Line Items] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 850,000 | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 80.00% | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
SHAREHOLDERS' EQUITY (Details)
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity - $ / shares | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options granted, number of options (in Shares) | 345,000 | |
| Options exercised, number of options (in Shares) | (269,625) | (23,000) |
| Price Range Per Share $0.38 - $0.84 [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31, 2014 (in Shares) | 860,500 | |
| Options outstanding at May 31, 2014 | $ 0.51 | |
| Options exercised, number of options (in Shares) | (269,625) | |
| Options exercised, price per share | $ 0.41 | |
| Price Range Per Share $0.38 - $0.84 [Member] | Minimum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31, 2014 | 0.38 | |
| Options exercised, price per share | 0.38 | |
| Price Range Per Share $0.38 - $0.84 [Member] | Maximum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31, 2014 | $ 0.84 | |
| Options exercised, price per share | $ 0.84 | |
| Price Range Per Share $0.82 - $0.85 [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options granted, number of options (in Shares) | 356,000 | |
| Options granted, price per share | $ 0.82 | |
| Price Range Per Share $0.82 - $0.85 [Member] | Minimum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options granted, price per share | 0.82 | |
| Price Range Per Share $0.82 - $0.85 [Member] | Maximum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options granted, price per share | $ 0.85 | |
| Price Range Per Share $0.38 - $0.71 [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options exercised, number of options (in Shares) | (23,000) | |
| Options exercised, price per share | $ 0.42 | |
| Price Range Per Share $0.38 - $0.71 [Member] | Minimum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options exercised, price per share | 0.38 | |
| Price Range Per Share $0.38 - $0.71 [Member] | Maximum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options exercised, price per share | $ 0.71 | |
| Price Range Per Share $0.43 - $0.85 [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options canceled or expired, number of options (in Shares) | (45,500) | |
| Options canceled or expired, price per share | $ 0.72 | |
| Price Range Per Share $0.43 - $0.85 [Member] | Minimum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options canceled or expired, price per share | 0.43 | |
| Price Range Per Share $0.43 - $0.85 [Member] | Maximum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options canceled or expired, price per share | $ 0.85 | |
| Price Range Per Share $0.38 - $0.85 [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31, 2014 (in Shares) | 1,148,000 | |
| Options outstanding at May 31, 2014 | $ 0.60 | |
| Options outstanding at May 31 (in Shares) | 1,148,000 | |
| Options outstanding at May 31 | $ 0.60 | |
| Price Range Per Share $0.38 - $0.85 [Member] | Minimum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31, 2014 | 0.38 | |
| Options outstanding at May 31 | 0.38 | |
| Price Range Per Share $0.38 - $0.85 [Member] | Maximum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31, 2014 | $ 0.85 | |
| Options outstanding at May 31 | $ 0.85 | |
| Price Range Per Share $1.04 - $1.20 [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options granted, number of options (in Shares) | 345,000 | |
| Options granted, price per share | $ 1.17 | |
| Price Range Per Share $1.04 - $1.20 [Member] | Minimum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options granted, price per share | 1.04 | |
| Price Range Per Share $1.04 - $1.20 [Member] | Maximum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options granted, price per share | $ 1.20 | |
| Price Range Per Share $0.43 - $1.04 [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options canceled or expired, number of options (in Shares) | (24,375) | |
| Options canceled or expired, price per share | $ 0.74 | |
| Price Range Per Share $0.43 - $1.04 [Member] | Minimum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options canceled or expired, price per share | 0.43 | |
| Price Range Per Share $0.43 - $1.04 [Member] | Maximum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options canceled or expired, price per share | $ 1.04 | |
| Price Range Per Share $0.43 - $1.20 [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31 (in Shares) | 1,199,000 | |
| Options outstanding at May 31 | $ 0.81 | |
| Price Range Per Share $0.43 - $1.20 [Member] | Minimum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31 | 0.43 | |
| Price Range Per Share $0.43 - $1.20 [Member] | Maximum [Member] | ||
| SHAREHOLDERS' EQUITY (Details) - Outstanding Stock Options Activity [Line Items] | ||
| Options outstanding at May 31 | $ 1.20 | |
SHAREHOLDERS' EQUITY (Details33
| SHAREHOLDERS' EQUITY (Details) - Non-vested Stock Options Activity - $ / shares | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| Non-vested Stock Options Activity [Abstract] | ||
| Nonvested shares at May 31,2015 | 527,125 | |
| Nonvested shares at May 31,2015 | $ 0.75 | |
| Granted | 345,000 | |
| Granted | $ 1.17 | $ 0.82 |
| Vested/Issued | (179,250) | |
| Vested/Issued | $ 0.66 | |
| Forfeited | (19,625) | |
| Forfeited | $ 0.77 | |
| Nonvested shares at May 31,2016 | 673,250 | |
| Nonvested shares at May 31,2016 | $ 0.99 | |
SHAREHOLDERS' EQUITY (Details34
| SHAREHOLDERS' EQUITY (Details) - Stock Options Summary - $ / shares | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
| Range of Exercise Price, Minimum | $ 0.38 | $ 0.38 |
| Range of Exercise Price, Maximum | 0.84 | $ 0.71 |
| Range Of Exercise Price $0.43 [Member] | ||
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
| Range of Exercise Price, Minimum | 0.43 | |
| Range of Exercise Price, Maximum | $ 0.43 | |
| Options Outstanding, Number (in Shares) | 311,750 | |
| Options Outstanding, Weighted Average Remaining Contractual Life | 222 days | |
| Options Outstanding, Weighted Average Exercise Price | $ 0.43 | |
| Options Exercisable, Number (in Shares) | 311,750 | |
| Options Exercisable, Weighted Average Exercise Price | $ 0.43 | |
| Range Of Exercise Price $0.71 - $0.85 [Member] | ||
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
| Range of Exercise Price, Minimum | 0.71 | |
| Range of Exercise Price, Maximum | $ 0.85 | |
| Options Outstanding, Number (in Shares) | 545,250 | |
| Options Outstanding, Weighted Average Remaining Contractual Life | 4 years 83 days | |
| Options Outstanding, Weighted Average Exercise Price | $ 0.79 | |
| Options Exercisable, Number (in Shares) | 214,000 | |
| Options Exercisable, Weighted Average Exercise Price | $ 0.76 | |
| Range Of Exercise Price $1.04 - $1.20 [Member] | ||
| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
| Range of Exercise Price, Minimum | 1.04 | |
| Range of Exercise Price, Maximum | $ 1.20 | |
| Options Outstanding, Number (in Shares) | 342,000 | |
| Options Outstanding, Weighted Average Remaining Contractual Life | 8 years 215 days | |
| Options Outstanding, Weighted Average Exercise Price | $ 1.17 | |
INCOME TAXES (Details)
| INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| INCOME TAXES (Details) [Line Items] | ||
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |
| Deferred Tax Assets, Valuation Allowance | $ 1,038,000 | $ 0 |
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 1,038,000 | 0 |
| Operating Loss Carryforwards | 2,247,000 | 1,445,000 |
| Windfall Tax Benefits | 467,000 | |
| Tax Benefit To be Adjusted To Additional Paid In Capital On Realization | 163,000 | |
| Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | (21,844) | (63,000) |
| California State Income Tax [Member] | ||
| INCOME TAXES (Details) [Line Items] | ||
| Operating Loss Carryforwards | 1,417,000 | $ 913,000 |
| Domestic Tax Authority [Member] | ||
| INCOME TAXES (Details) [Line Items] | ||
| Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | 233,000 | |
| State and Local Jurisdiction [Member] | ||
| INCOME TAXES (Details) [Line Items] | ||
| Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount | $ 35,000 | |
INCOME TAXES (Details) - Income
| INCOME TAXES (Details) - Income Taxes - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| Current: | ||
| U.S. Federal | ||
| State and local | (800) | 17,024 |
| Total current | (800) | 17,024 |
| Deferred: | ||
| U.S. Federal | (579,414) | 267,418 |
| State and local | (123,586) | 30,582 |
| Total deferred | (703,000) | 298,000 |
| Income tax (expense) benefit | $ (703,800) | $ 315,024 |
INCOME TAXES (Details) - Inco37
| INCOME TAXES (Details) - Income Tax Rate Reconciliation - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| Income Tax Rate Reconciliation [Abstract] | ||
| Computed "expected" tax benefit | $ 274,479 | $ 226,024 |
| Increase (reduction) in income taxes resulting from: | ||
| Change in valuation allowance | (1,038,000) | |
| State income taxes, net of federal benefit | 34,276 | 27,000 |
| Research and development tax credits | 21,844 | 63,000 |
| Permanent tax differences and other | 3,601 | (1,000) |
| Income tax (expense) (benefit) | $ (703,800) | $ 315,024 |
INCOME TAXES (Details) - Deferr
| INCOME TAXES (Details) - Deferred Tax - USD ($) | May 31, 2016 | May 31, 2015 |
| Deferred tax assets: | ||
| Accounts receivable, principally due to allowance for doubtful accounts and sales returns | $ 3,000 | $ 7,000 |
| Inventory valuation | 11,000 | 9,000 |
| Compensated absences and deferred payroll | 60,000 | 45,000 |
| Net operating loss carryforwards | 705,000 | 484,000 |
| Tax credit carryforwards | 268,000 | 239,000 |
| Deferred rent expense | 3,000 | 13,000 |
| Other | 82,000 | 56,000 |
| Total deferred tax assets | 1,132,000 | 853,000 |
| Less valuation allowance | (1,038,000) | 0 |
| Deferred Tax Asset Net | 94,000 | 853,000 |
| Deferred tax liabilities: | ||
| Accumulated depreciation of property and equipment | (53,000) | (109,000) |
| Net deferred tax asset | $ 41,000 | $ 744,000 |
BUSINESS SEGMENTS (Details)
| BUSINESS SEGMENTS (Details) | 12 Months Ended |
| May 31, 2016 | |
| Segment Reporting [Abstract] | |
| Number of Operating Segments | 1 |
BUSINESS SEGMENTS (Details) - G
| BUSINESS SEGMENTS (Details) - Geographic information regarding net sales - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| Net sales: | ||
| Net Sales | $ 5,139,816 | $ 4,962,373 |
| Europe [Member] | ||
| Net sales: | ||
| Net Sales | 2,166,000 | 2,716,000 |
| UNITED STATES | ||
| Net sales: | ||
| Net Sales | 995,000 | 1,042,000 |
| Asia [Member] | ||
| Net sales: | ||
| Net Sales | 1,731,000 | 1,016,000 |
| South America [Member] | ||
| Net sales: | ||
| Net Sales | 67,000 | 21,000 |
| Middle East [Member] | ||
| Net sales: | ||
| Net Sales | 180,000 | 143,000 |
| Other Foreign [Member] | ||
| Net sales: | ||
| Net Sales | $ 1,000 | $ 24,000 |
COMMITMENTS AND CONTINGENCIES41
| COMMITMENTS AND CONTINGENCIES (Details) - USD ($) | 12 Months Ended | |
| May 31, 2016 | May 31, 2015 | |
| COMMITMENTS AND CONTINGENCIES (Details) [Line Items] | ||
| Shares Issued, Price Per Share (in Dollars per share) | $ 3 | |
| Stock Issued During Period, Shares, New Issues (in Shares) | 333,334 | |
| Stock Issued During Period, Value, New Issues | $ 995,978 | |
| Royalty Agreements [Member] | ||
| COMMITMENTS AND CONTINGENCIES (Details) [Line Items] | ||
| Royalty Expense | $ 24,000 | $ 24,000 |
| Royalty Expense Percentage Of Sales | 3.50% | 3.20% |
| Exclusive Marketing License Agreement [Member] | ||
| COMMITMENTS AND CONTINGENCIES (Details) [Line Items] | ||
| Agreement Term Period | 5 years | |
| Additional Agreement Term Period | 2 years | |
| US FDA [Member] | Exclusive Marketing License Agreement [Member] | ||
| COMMITMENTS AND CONTINGENCIES (Details) [Line Items] | ||
| Clearance Fees | $ 1,250,000 | |
| Conversion of Stock, Amount Converted | $ 250,000 | |
| Shares Issued, Price Per Share (in Dollars per share) | $ 3 | |
| Conversion of Stock, Shares Issued (in Shares) | 83,333 | |
| Korean FDA [Member] | Exclusive Marketing License Agreement [Member] | ||
| COMMITMENTS AND CONTINGENCIES (Details) [Line Items] | ||
| Royalty Expense | $ 7,250,000 | |
| Agreement Term Period | 5 years | |
| Celtis Pharm Co., Ltd [Member] | Exclusive Marketing License Agreement [Member] | Private Placement [Member] | ||
| COMMITMENTS AND CONTINGENCIES (Details) [Line Items] | ||
| Shares Issued, Price Per Share (in Dollars per share) | $ 3 | |
| Stock Issued During Period, Shares, New Issues (in Shares) | 333,334 | |
| Stock Issued During Period, Value, New Issues | $ 1,000,002 | |
| Operating Lease Rental [Member] | ||
| COMMITMENTS AND CONTINGENCIES (Details) [Line Items] | ||
| Operating Lease Initiation Date | Sep. 1, 2009 | |
| Lease Expiration Date | Aug. 31, 2016 | |
| Operating Leases, Rent Expense, Minimum Rentals | $ 21,000 | |
| Operating Leases, Rent Expense, Contingent Rentals | 23,637 | |
| Security Deposit Liability | 22,080 | |
| Operating Leases, Rent Expense | 235,927 | $ 236,154 |
| Operating Lease Rental [Member] | MX [Member] | ||
| COMMITMENTS AND CONTINGENCIES (Details) [Line Items] | ||
| Operating Leases, Rent Expense | $ 36,234 | $ 36,000 |
COMMITMENTS AND CONTINGENCIES42
| COMMITMENTS AND CONTINGENCIES (Details) - Operating Leases | May 31, 2016USD ($) |
| Operating Leases [Abstract] | |
| 2,016 | $ 255,240 |
| 2,017 | 257,670 |
| 2,018 | 265,401 |
| 2,019 | 273,369 |
| 2,020 | 281,577 |
| 2,021 | 70,911 |
| Total | $ 1,404,168 |
SUBSEQUENT EVENT (Details)
| SUBSEQUENT EVENT (Details) | Jul. 14, 2016$ / sharesshares | Jun. 03, 2016$ / sharesshares | May 31, 2016shares |
| SUBSEQUENT EVENT (Details) [Line Items] | |||
| Number Of Directors | 5 | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 345,000 | ||
| Subsequent Event [Member] | |||
| SUBSEQUENT EVENT (Details) [Line Items] | |||
| Number Of Directors | 6 | ||
| Dr. Mark Sirgo [Member] | Subsequent Event [Member] | |||
| SUBSEQUENT EVENT (Details) [Line Items] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 35,000 | ||
| Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 1.52 | ||
| Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Option Exercisable Immediately | 25.00% | ||
| Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Option Exercisable Thereafter | 25.00% | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Jul. 14, 2026 | ||
| Consultant [Member] | Subsequent Event [Member] | |||
| SUBSEQUENT EVENT (Details) [Line Items] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 20,000 | ||
| Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 1.61 | ||
| Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Option Exercisable Immediately | 25.00% | ||
| Share-based Compensation Arrangement By Share-based Payment Award, Percentage Of Option Exercisable Thereafter | 25.00% | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Jun. 3, 2021 |