Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
Aug. 31, 2017
May 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 477,258 $ 487,383
Prepaid expenses 58,133 107,209
Total current assets 535,391 594,592
OTHER ASSETS:    
Intellectual technology property, net of accumulated amortization of $17,403 and $17,148 as of August 31, 2017 and May 31, 2017, respectively 2,132 2,387
Total other assets 2,132 2,387
Total Assets 537,523 596,979
CURRENT LIABILITIES:    
Accounts payable 588,669 489,029
Accrued expenses 36,106 57,786
Total current liabilities 624,775 546,815
LONG TERM LIABILITIES:    
Senior Secured Note - related party 21,169,366 20,299,366
Senior Secured Note Accrued Interest - related party 1,647,977 1,490,416
Total liabilities 23,442,118 22,336,597
STOCKHOLDERS' (DEFICIT)    
Preferred stock, par value $0.00001, 1,000,000 shares authorized; none issued and outstanding 0 0
Common stock, par value $0.00001, 100,000,000 shares authorized; 28,767,582 and 28,767,582 shares issued and outstanding, respectively 288 288
Additional paid in capital 77,446,343 77,446,343
Accumulated deficit (100,351,226) (99,186,249)
Total stockholders’ (deficit) (22,904,595) (21,739,618)
Total liabilities and stockholders’ (deficit) $ 537,523 $ 596,979