A summary of all warrants outstanding and exercisable as of May 31, 2013 and changes during the year then ended is set forth below:
| Options | Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | ||||||||||||
| Outstanding at the beginning of period | 356,154 | $ | 0.38 | 0.40 | $ | 136,699 | ||||||||||
| Granted | — | — | — | — | ||||||||||||
| Expired | 356,154 | — | — | — | ||||||||||||
| Exercised | — | — | — | — | ||||||||||||
| Forfeited | — | — | — | — | ||||||||||||
| Outstanding at the end of Period | — | — | — | — | ||||||||||||
| Exercisable at the end of Period | — | $ | — | — | $ | — | ||||||||||
A summary of all employee options outstanding and exercisable under the plan as of May 31, 2012 and changes during the year then ended is set forth below:
| Options | Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value | ||||||||||||
| Outstanding at the beginning of period | — | $ | — | — | $ | — | ||||||||||
| Granted | 356,154 | 0.38 | 1.41 | 136,699 | ||||||||||||
| Expired | — | — | — | — | ||||||||||||
| Forfeited | — | — | — | — | ||||||||||||
| Outstanding at the end of Period | 356,154 | 0.38 | 1.41 | 136,699 | ||||||||||||
| Exercisable at the end of Period | 356,154 | $ | 0.38 | 1.41 | $ | 136,699 | ||||||||||