NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) - USD ($) |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Aug. 31, 2016 |
Aug. 31, 2015 |
May 31, 2016 |
May 31, 2015 |
|
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Advances reclassified to convertible notes payable | $ 250,000 | $ 0 | $ 0 | $ 0 |
Advances to fund operations | 179,000 | 150,000 | 72,750 | 600,000 |
Discount charged to operations | 202,196 | $ 16,666 | 286,317 | $ 5,556 |
Chief Executive Officer [Member] | Advances Reclassified to Convertible Notes [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Advances reclassified to convertible notes payable | 12,750 | 92,500 | ||
Director [Member] | Advances Reclassified to Convertible Notes [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Advances reclassified to convertible notes payable | $ 210,000 | $ 1,275,000 | ||
Loans Payable [Member] | Chief Executive Officer [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 6.00% | 6.00% | ||
Advances to fund operations | $ 39,000 | $ 95,250 | ||
Accrued interest | $ 63 | $ 1,308 | ||
Loans Payable [Member] | Director [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 6.00% | 6.00% | 6.00% | |
Advances to fund operations | $ 140,000 | $ 745,000 | $ 600,000 | |
Accrued interest | $ 1,059 | $ 9,174 | ||
Binder Convertible Note [Member] | Chief Executive Officer [Member] | Convertible Debt [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 6.00% | 6.00% | ||
Accrued interest | $ 756 | $ 1,151 | ||
Note amount | $ 50,000 | $ 50,000 | ||
Payment terms | No payments are required until January 1, 2017, at which time all accrued interest becomes due and payable. Commencing on April 1, 2017, the first of eight principal payments in the amount of $6,250 will be due; subsequent principal payments will due on the first day of each July, October, January, and April until paid in full. | No payments are required until January 1, 2017, at which time all accrued interest becomes due and payable. Commencing on April 1, 2017, the first of eight principal payments in the amount of $6,250 will be due; subsequent principal payments will due on the first day of each July, October, January, and April until paid in full. | ||
Conversion terms | This note and accrued interest under the note may be converted, in whole or in part, into one "Unit" for each $0.75 converted, with each Unit consisting of one (1) share of common stock and a three-year warrant to purchase (1) share of common stock at a price of $1.00 per share (post Reverse-Split). | This note and accrued interest under the note may be converted, in whole or in part, into one "Unit" for each $0.75 converted, with each Unit consisting of one (1) share of common stock and a three-year warrant to purchase (1) share of common stock at a price of $1.00 per share (post Reverse-Split). | ||
Beneficial conversion feature | $ 50,000 | |||
Discount charged to operations | $ 6,187 | $ 9,599 | ||
Note dated | Jan. 12, 2016 | Jan. 12, 2016 | ||
Note due | Jan. 01, 2019 | Jan. 01, 2019 | ||
Conversion price (in Dollars per share) | $ 0.75 | |||
Binder Convertible Note 2 [Member] | Chief Executive Officer [Member] | Convertible Debt [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 10.00% | 10.00% | ||
Accrued interest | $ 1,071 | $ 773 | ||
Note amount | $ 42,500 | $ 95,250 | ||
Payment terms | No payments are required until April 1, 2017, at which time all accrued interest becomes due and payable. Commencing on July 1, 2017, the first of eight principal payments in the amount of $5,313 will be due; subsequent principal payments will due on the first day of each October, January, April, and July until paid in full. | No payments are required until April 1, 2017, at which time all accrued interest becomes due and payable. Commencing on July 1, 2017, the first of eight principal payments in the amount of $5,313 will be due; subsequent principal payments will due on the first day of each October, January, April, and July until paid in full. | ||
Conversion terms | This note and accrued interest under the note may be converted, in whole or in part, into one "Unit" for each $1.07 converted, with each Unit consisting of one (1) share of common stock and a five-year warrant to purchase (1) share of common stock at a price of $1.07 per share (post Reverse-Split). | This note and accrued interest under the note may be converted, in whole or in part, into one "Unit" for each $1.07 converted, with each Unit consisting of one (1) share of common stock and a five-year warrant to purchase (1) share of common stock at a price of $1.07 per share (post Reverse-Split). | ||
Beneficial conversion feature | $ 37,840 | |||
Discount charged to operations | $ 4,683 | $ 7,263 | ||
Note dated | Apr. 08, 2016 | Apr. 08, 2016 | ||
Note due | Apr. 01, 2019 | Apr. 01, 2019 | ||
Conversion price (in Dollars per share) | $ 1.07 | |||
Koretsky Convertible Note [Member] | Director [Member] | Convertible Debt [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 6.00% | 6.00% | ||
Accrued interest | $ 13,535 | $ 20,597 | ||
Note amount | $ 895,000 | $ 895,000 | ||
Payment terms | No payments are required until January 1, 2017, at which time all accrued interest becomes due and payable. Commencing on April 1, 2017, the first of eight principal payments in the amount of $111,875 will be due; subsequent principal payments will due on the first day of each July, October, January, and April until paid in full. | No payments are required until January 1, 2017, at which time all accrued interest becomes due and payable. Commencing on April 1, 2017, the first of eight principal payments in the amount of $111,875 will be due; subsequent principal payments will due on the first day of each July, October, January, and April until paid in full. | ||
Conversion terms | This note and accrued interest under the note may be converted, in whole or in part, into one "Unit" for each $0.75 converted, with each Unit consisting of one (1) share of common stock and a five-year warrant to purchase (1) share of common stock at a price of $1.00 per share (post Reverse-Split). | This note and accrued interest under the note may be converted, in whole or in part, into one "Unit" for each $0.75 converted, with each Unit consisting of one (1) share of common stock and a five-year warrant to purchase (1) share of common stock at a price of $1.00 per share (post Reverse-Split). | ||
Beneficial conversion feature | $ 895,000 | |||
Discount charged to operations | $ 110,745 | $ 171,822 | ||
Note dated | Jan. 12, 2016 | Jan. 12, 2016 | ||
Note due | Jan. 01, 2019 | Jan. 01, 2019 | ||
Conversion price (in Dollars per share) | $ 0.75 | |||
Koretsky Convertible Note 2 [Member] | Director [Member] | Convertible Debt [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 10.00% | 10.00% | ||
Accrued interest | $ 9,578 | $ 7,100 | ||
Note amount | $ 380,000 | $ 380,000 | ||
Payment terms | No payments are required until April 1, 2017, at which time all accrued interest becomes due and payable. Commencing on July 1, 2017, the first of eight principal payments in the amount of $47,500 will be due; subsequent principal payments will due on the first day of each October, January, April, and July until paid in full. | No payments are required until April 1, 2017, at which time all accrued interest becomes due and payable. Commencing on July 1, 2017, the first of eight principal payments in the amount of $47,500 will be due; subsequent principal payments will due on the first day of each October, January, April, and July until paid in full. | ||
Conversion terms | This note and accrued interest under the note may be converted, in whole or in part, into one "Unit" for each $1.07 converted, with each Unit consisting of one (1) share of common stock and a five-year warrant to purchase (1) share of common stock at a price of $1.07 per share (post Reverse-Split). | This note and accrued interest under the note may be converted, in whole or in part, into one "Unit" for each $1.07 converted, with each Unit consisting of one (1) share of common stock and a five-year warrant to purchase (1) share of common stock at a price of $1.07 per share (post Reverse-Split). | ||
Beneficial conversion feature | $ 338,336 | |||
Discount charged to operations | $ 41,867 | $ 64,939 | ||
Note dated | Apr. 08, 2016 | Apr. 08, 2016 | ||
Note due | Apr. 01, 2019 | Apr. 01, 2019 | ||
Conversion price (in Dollars per share) | $ 1.07 | |||
Trocki Note [Member] | Convertible Debt [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 15.00% | 15.00% | 15.00% | |
Accrued interest | $ 7,562 | $ 30,082 | $ 2,630 | |
Note amount | $ 200,000 | $ 200,000 | $ 200,000 | |
Payment terms | On the first anniversary of this note, the all then accrued interest became due. Thereafter, the Company is required to make eight equal payments of principal together with accrued interest, quarterly in arrears, commencing on July 1, 2016 until paid in full. | On the first anniversary of this note, the all then accrued interest became due. Thereafter, the Company is required to make eight equal payments of principal together with accrued interest, quarterly in arrears, commencing on July 1, 2016 until paid in full. | On the first anniversary of this note, the all then accrued interest became due. Thereafter, the Company is required to make eight equal payments of principal together with accrued interest, quarterly in arrears, commencing on July 1, 2016 until paid in full. | |
Conversion terms | The note and any accrued unpaid interest is convertible into common stock of the Company. For each dollar converted, the note holder shall receive two shares of common stock and one three-year warrant to purchase 1.33 shares (post Reverse-Split) of common stock at $0.75 per share (post Reverse-Split). | The note and any accrued unpaid interest is convertible into common stock of the Company. For each dollar converted, the note holder shall receive two shares of common stock and one three-year warrant to purchase 1.33 shares (post Reverse-Split) of common stock at $0.75 per share (post Reverse-Split). | The note and any accrued unpaid interest is convertible into common stock of the Company. For each dollar converted, the note holder shall receive two shares of common stock and one three-year warrant to purchase 1.33 shares (post Reverse-Split) of common stock at $0.75 per share (post Reverse-Split). | |
Beneficial conversion feature | $ 200,000 | |||
Discount charged to operations | $ 16,667 | $ 222,222 | $ 66,667 | |
Note due | Apr. 29, 2018 | Apr. 29, 2018 | Apr. 29, 2018 | |
Conversion price (in Dollars per share) | $ 0.75 | $ 0.75 | ||
Old Main 10% Notes [Member] | Convertible Debt [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 15.00% | 10.00% | ||
Accrued interest | $ 9,817 | $ 5,160 | ||
Note amount | $ 333,333 | $ 333,333 | ||
Payment terms | At the earlier of October 18, 2016 or two trading days after the registration statement related to the Company's equity line is declared effective, the Company must begin to redeem 1/24th of the face amount of the notes and any accrued but unpaid interest on a bi-weekly basis. Such amortization payments may be made, at the Company's option, in cash or, subject to certain conditions, in common stock pursuant to a conversion rate equal to the lower of (a) $0.80 or (b) 75% of the lowest daily volume weighted average price of the common stock in the twenty consecutive trading days immediately prior to the conversion date. | At the earlier of September 18, 2016 or two trading days after the registration statement is declared effective, the Company must begin to redeem 1/24th of the face amount of the notes and any accrued but unpaid interest on a bi-weekly basis. Such amortization payments may be made, at our option, in cash or, subject to certain conditions, in common stock pursuant to a conversion rate equal to the lower of (a) $0.80 or (b) 75% of the lowest daily volume weighted average price of the common stock in the twenty consecutive trading days immediately prior to the conversion date. | ||
Conversion terms | Old Main may, at its option, convert all or a portion of the notes and accrued but unpaid interest into shares of common stock at a conversion price of $0.80 per share (post Reverse-Split) (the "Fixed Conversion Price"). The Fixed Conversion Price is subject to adjustment if, at any time while this note is outstanding, the Company should issue any equity security with an effective price per share that is lower than the Fixed Conversion Price (the "Base Conversion Price"), other than certain exempt issuances. In such an instance, the Fixed Conversion Price will be lowered to match the Base Conversion Price. | Old Main may, at its option, convert all or a portion of the notes and accrued but unpaid interest into shares of common stock at a conversion price of $0.80 per share (post Reverse-Split) (the "Fixed Conversion Price"). The Fixed Conversion Price is subject to adjustment if, at any time while this note is outstanding, the Company should issue any equity security with an effective price per share that is lower than the Fixed Conversion Price (the "Base Conversion Price"), other than certain exempt issuances. In such an instance, the Fixed Conversion Price will be lowered to match the Base Conversion Price. | ||
Discount charged to operations | $ 1,165 | $ 4,056 | ||
Note dated | Mar. 18, 2016 | |||
Conversion price (in Dollars per share) | $ 0.80 | |||
Discount recognized | $ 330,188 | |||
Old Main 8% Note [Member] | Convertible Debt [Member] | ||||
NOTES PAYABLE (Details) - Schedule of Debt (Parentheticals) [Line Items] | ||||
Interest rate | 8.00% | 8.00% | ||
Accrued interest | $ 4,033 | $ 3,244 | ||
Payment terms | At the earlier of February 3, 2017 or the effectiveness of the registration statement related to the Company's equity line, the Company must begin to redeem 1/6th of the face amount of the note and any accrued but unpaid interest on a monthly basis. Such amortization payment may be made, at its option, in cash or, subject to certain conditions, in common stock pursuant to a conversion rate equal to the lower of (a) $1.07 (post Reverse-Split) or (b) 75% of the lowest daily volume weighted average price of the common stock in the twenty consecutive trading days ending on the trading day that is immediately prior to the applicable conversion date. | At the earlier of September 18, 2016 or two trading days after this registration statement becomes effective, the Company must begin to redeem 1/6th of the face amount of the note and any accrued but unpaid interest on a monthly basis. Such amortization payment may be made, at its option, in cash or, subject to certain conditions, in common stock pursuant to a conversion rate equal to the lower of (a) $1.07 (post Reverse-Split) or (b) 75% of the lowest daily volume weighted average price of the common stock in the twenty consecutive trading days ending on the trading day that is immediately prior to the applicable conversion date. | ||
Conversion terms | Old Main may, at its option, convert all or a portion of the note and accrued but unpaid interest into shares of common stock at a conversion price of $1.07 per share (post Reverse-Split) (the "8% Fixed Conversion Price"). The 8% Fixed Conversion Price is subject to adjustment if, at any time while this note is outstanding, the Company should issue any equity security with an effective price per share that is lower than the 8% Fixed Conversion Price (the "8% Base Conversion Price"), other than certain exempt issuances. In such an instance, the 8% Fixed Conversion Price will be lowered to match the 8% Base Conversion Price. | Old Main may, at its option, convert all or a portion of the note and accrued but unpaid interest into shares of common stock at a conversion price of $1.07 per share (post Reverse-Split) (the "8% Fixed Conversion Price"). The 8% Fixed Conversion Price is subject to adjustment if, at any time while this note is outstanding, the Company should issue any equity security with an effective price per share that is lower than the 8% Fixed Conversion Price (the "8% Base Conversion Price"), other than certain exempt issuances. In such an instance, the 8% Fixed Conversion Price will be lowered to match the 8% Base Conversion Price. | ||
Discount charged to operations | $ 33,461 | $ 8,522 | ||
Note dated | Mar. 18, 2016 | Mar. 18, 2016 | ||
Conversion price (in Dollars per share) | $ 1.07 | |||
Discount recognized | $ 172,108 |