Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 6 Months Ended
Nov. 30, 2015
Nov. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (1,005,870) $ (320,829)
Adjustments to reconcile net loss to net cash used in operating activities:    
Imputed interest 539 180
Issuance of stock for services 60,850 0
Stock-based compensation – related party 109,167 0
Amortization of debt discount 33,333 0
Depreciation and amortization 626 0
Changes in assets and liabilities:    
Due from related parties 0 (162)
Prepaid expenses 1,041 (108,898)
Accounts payable and accrued expenses 121,994 24,290
Deferred liabilities 46,603 0
Accrued compensation, related party 68,750 25,000
Due to related parties (525) 17,930
Accrued interest, related party 21,952 0
Accrued interest 15,041 0
Net cash used in operating activities (526,499) (362,489)
CASH FLOWS FROM INVESTING ACTIVITIES    
Payments to acquire equipment (2,674) 0
Payments to acquire intangible assets 0 (2,158)
Payments for investment in shell company 0 (295,250)
Net cash used in investing activities (2,674) (297,408)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of common stock 0 1,000,000
Proceeds from related party note 345,000 0
Net cash provided by financing activities 345,000 1,000,000
Net increase in cash and cash equivalents (184,173) 340,103
Cash and cash equivalents at beginning of period 208,821 0
Cash and cash equivalents at end of period 24,648 425,302
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 0 0
Income taxes paid 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Stock issued to founder for intellectual property $ 0 $ 500