Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Aug. 31, 2016
May 31, 2016
Current assets    
Cash and cash equivalents $ 3,238 $ 88,244
Prepaid expenses 6,742 6,742
Total current assets 9,980 94,986
Security deposit 50,000 50,000
Property, plant and equipment, net of accumulated depreciation of $1,115 and $892 1,559 1,782
Construction in progress 118,239 106,726
Note receivable related party, noncurrent, net of allowance of $500,000 and $500,000 0 0
Intangible assets, net of accumulated amortization of $504 and $396 1,654 1,762
Total assets 181,432 255,256
Current liabilities    
Accounts payable and accrued liabilities 492,165 431,017
Accrued compensation, related party 53,750 267,493
Due to related party 22,627 17,930
Accrued interest 62,528 41,116
Accrued interest, related party 102,339 68,148
Convertible notes payable, net of discount of $524,751 and $227,475 119,692 72,525
Convertible notes payable, related party, net of discount of $199,659 and $95,447 89,404 22,678
Derivative liability 294,616 418,537
Notes payable, related parties 5,000 0
Total current liabilities 1,242,121 1,339,444
Noncurrent liabilities    
Convertible notes payable, net of discount of $54,029 and $390,021 34,860 43,312
Convertible notes payable, related parties, net of discount of $750,964 and $1,018,657 950,223 230,718
Notes payable, related parties 0 72,750
Total Liabilities 2,227,204 1,686,224
Commitments and contingencies
Stockholders’ equity    
Common stock, $0.0001 par value; 250,000,000 shares authorized; 20,350,003 shares issued and outstanding at August 31, 2016 and May 31, 2016 2,035 2,035
Preferred stock, $0.001 par value; 20,000,000 shares authorized; no shares issued 0 0
Additional paid-in capital 2,627,454 2,627,183
Stock payable 65,700 65,700
Accumulated deficit (4,740,961) (4,125,886)
Total stockholders’ equity (deficit) (2,045,772) (1,430,968)
Total liabilities and stockholders’ equity (deficit) $ 181,432 $ 255,256