UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM 10-Q
(Mark One)
| x |
QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. |
FOR THE QUARTERLY
PERIOD ENDED NOVEMBER 30, 2015
| ¨ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. |
For the transition
period from _________ to __________
Commission File
Number 0-54205
|
TARSIER LTD.
(Name of Registrant in its Charter) |
| Delaware |
20-2188353 |
(State
of Other Jurisdiction of incorporation or
organization) |
(I.R.S.) Employer I.D. No.) |
475 Park Avenue South, 30th Floor,
New York, NY 10016 |
| (Address of Principal Executive Offices) |
Issuer’s
Telephone Number: 212-401-6181
Securities Registered Pursuant to Section
12(b) of the Exchange Act: NONE
Securities Registered Pursuant to Section
12(g) of the Exchange Act:
COMMON STOCK,
$0.001 PAR VALUE
(Title of Class)
Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 406 of the Securities Act. Yes
¨ No þ
Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes
¨ No þ
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. Yes þ No
¨
Indicate
by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit and post such files.) Yes þ No
¨
Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405) is not contained herein,
and will not be contained, to the best of registrant’s knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K or any amendment
to this Form 10-K. x
Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company”
in Rule 12b-2 of the Exchange Act. (Check One)
| Large accelerated filer ¨ |
Accelerated filer ¨ |
Non-accelerated filer ¨ |
Smaller reporting company x |
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨
No þ
As of November 30, 2015, the last day
of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the common stock held by
non-affiliates was $4,313,479 based upon the closing sale price on November 30, 2014 of $0.58 per share.
As of January 19, 2016, there were
28,921,403 shares of common stock outstanding.
Documents incorporated by reference:
NO
Form 10-Q Quarterly Report
INDEX
Tarsier Ltd.
Consolidated Balance Sheets
| | |
November 30,
2015 | | |
May 31,
2015 | |
| Assets | |
(Unaudited) | | |
| |
| Current Assets: | |
| | | |
| | |
| Cash | |
$ | 2,030 | | |
$ | – | |
| Assets from discontinued operations (Note 4) | |
| – | | |
| 8,703,090 | |
| Total Current Assets | |
| 2,030 | | |
| 8,703,090 | |
| Assets from discontinued operations (Note 4) | |
| – | | |
| 4,161,668 | |
| Total Assets | |
| 2,030 | | |
| 12,864,758 | |
| | |
| | | |
| | |
| Liabilities and Stockholders' Equity (Deficit) | |
| | | |
| | |
| | |
| | | |
| | |
| Current Liabilities: | |
| | | |
| | |
| Accounts payable and accrued expenses | |
$ | 304,486 | | |
$ | 48,750 | |
| Due to shareholder | |
| 101,828 | | |
| – | |
| Notes payable, net of debt discounts of $10,059 | |
| 207,941 | | |
| – | |
| Other current liabilities | |
| 21,339 | | |
| – | |
| Liabilities from discontinued operations (Note 4) | |
| – | | |
| 11,928,595 | |
| Total Current Liabilities | |
| 635,594 | | |
| 11,977,345 | |
| Liabilities from discontinued operations (Note 4) | |
| – | | |
| 337,590 | |
| Total Liabilities | |
| 635,594 | | |
| 12,314,935 | |
| | |
| | | |
| | |
| Stockholders' Equity (Deficit): | |
| | | |
| | |
| Preferred stock, 10,000,000 shares authorized, 0 shares issued and outstanding | |
| | | |
| | |
| Common stock, $0.001 par value, 150,000,000 shares authorized; 25,291,403 and 34,325,241 shares issued and outstanding at November 30, 2015 and May 31, 2015, respectively | |
| 25,291 | | |
| 34,325 | |
| Additional paid-in capital | |
| 6,722,852 | | |
| 6,866,355 | |
| Accumulated deficit | |
| (7,381,707 | ) | |
| (6,350,857 | ) |
| Total Stockholders' Equity (Deficit) | |
| (633,564 | ) | |
| 549,823 | |
| Total Liabilities and Stockholders' Equity (Deficit) | |
$ | 2,030 | | |
$ | 12,864,758 | |
See notes to the unaudited consolidated financial
statements.
Tarsier Ltd.
Consolidated Statements of Operations and
Comprehensive Income
(Unaudited)
| | |
For the Three Months Ended | | |
For the Six Months Ended | |
| | |
November 30, | | |
November 30, | |
| | |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| Net sales | |
$ | 1,640 | | |
$ | – | | |
$ | 1,640 | | |
$ | – | |
| Cost of goods sold | |
| 1,284 | | |
| – | | |
| 1,284 | | |
| – | |
| Gross profit | |
| 356 | | |
| – | | |
| 356 | | |
| – | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | |
| Salaries and other compensation | |
| 350,000 | | |
| – | | |
| 410,000 | | |
| – | |
| Professional fees | |
| 255,778 | | |
| – | | |
| 497,296 | | |
| – | |
| General and administrative | |
| 17,476 | | |
| – | | |
| 37,300 | | |
| – | |
| Total operating expenses | |
| 623,254 | | |
| – | | |
| 944,596 | | |
| – | |
| Loss from operations | |
| (622,898 | ) | |
| – | | |
| (944,240 | ) | |
| – | |
| Other income (expenses): | |
| | | |
| | | |
| | | |
| | |
| Interest expense | |
| (633 | ) | |
| – | | |
| (633 | ) | |
| – | |
| Amortization of debt discount | |
| (82,518 | ) | |
| – | | |
| (85,977 | ) | |
| – | |
| Loss before income taxes | |
| (706,049 | ) | |
| – | | |
| (1,030,850 | ) | |
| – | |
| Income tax provision | |
| – | | |
| – | | |
| – | | |
| – | |
| Net loss from continuing operations | |
| (706,049 | ) | |
| – | | |
| (1,030,850 | ) | |
| – | |
| | |
| | | |
| | | |
| | | |
| | |
| Net income from discontinued operations, net of taxes (Note 4) | |
| – | | |
| 468,307 | | |
| – | | |
| 341,021 | |
| | |
| | | |
| | | |
| | | |
| | |
| Net (loss) income | |
$ | (706,049 | ) | |
$ | 468,307 | | |
$ | (1,030,850 | ) | |
$ | 341,021 | |
| | |
| | | |
| | | |
| | | |
| | |
| Foreign currency translation gain | |
| – | | |
| 2,398 | | |
| – | | |
| 236,810 | |
| | |
| | | |
| | | |
| | | |
| | |
| Net comprehensive (loss) income | |
$ | (706,049 | ) | |
$ | 470,705 | | |
$ | (1,030,850 | ) | |
$ | 577,831 | |
| | |
| | | |
| | | |
| | | |
| | |
| Basic and diluted (loss) from continuing operations | |
$ | (0.03 | ) | |
$ | – | | |
$ | (0.04 | ) | |
$ | – | |
| Basic and diluted income from discontinued operations | |
$ | – | | |
$ | 0.01 | | |
$ | – | | |
$ | 0.01 | |
| Basic and diluted (loss) income per share | |
$ | (0.03 | ) | |
$ | 0.01 | | |
$ | (0.04 | ) | |
$ | 0.01 | |
| | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of common shares | |
| 24,734,301 | | |
| 31,325,241 | | |
| 25,030,545 | | |
| 31,325,241 | |
See notes to the unaudited consolidated financial
statements.
Tarsier Ltd.
Consolidated Statements of Cash Flows
(Unaudited)
| | |
For the Six Months Ended | |
| | |
November 30, | |
| Cash flows from operating activities: | |
| 2015 | | |
| 2014 | |
| Net (loss) income | |
$ | (1,030,850 | ) | |
$ | 341,021 | |
| Adjustments to reconcile net (loss) income to net cash (used in) | |
| | | |
| | |
| provided by operating activities: | |
| | | |
| | |
| Net (income) from discontinued operations | |
| – | | |
| (341,021 | ) |
| Amortization of debt discount | |
| 85,977 | | |
| – | |
| Shares issued to consultants and board of directors | |
| 350,000 | | |
| – | |
| Services received in exchange for issuance of note payable | |
| 25,000 | | |
| | |
| Changes in operating assets and liabilities: | |
| | | |
| | |
| Accounts payable and accrued expenses | |
| 255,736 | | |
| – | |
| Other current liabilities | |
| 21,339 | | |
| – | |
| Net cash used in operating activities - continuing operations | |
| (292,798 | ) | |
| – | |
| Net cash provided by operating activities - discontinued operations | |
| – | | |
| 121,908 | |
| Net cash (used in) provided by operating activities | |
| (292,798 | ) | |
| 121,908 | |
| | |
| | | |
| | |
| Cash flows from investing activities: | |
| | | |
| | |
| Net cash used in investing activities - continuing operations | |
| – | | |
| – | |
| Discontinued operations cash sold in sale of subsidiary | |
| (48,161 | ) | |
| – | |
| Net cash used in investing activities | |
| (48,161 | ) | |
| – | |
| | |
| | | |
| | |
| Cash flows from financing activities: | |
| | | |
| | |
| Proceeds from promissory note agreements | |
| 193,000 | | |
| – | |
| Due to shareholder | |
| 101,828 | | |
| – | |
| Net cash provided by financing activities - continuing operations | |
| 294,828 | | |
| – | |
| Net cash used in financing activities - discontinued operations | |
| – | | |
| (361,484 | ) |
| Net cash provided by (used in) financing activities | |
| 294,828 | | |
| (361,484 | ) |
| | |
| | | |
| | |
| Effect of exchange rate on cash and cash equivalents - discontinued operations | |
| – | | |
| 7,055 | |
| | |
| | | |
| | |
| Net (decrease) in cash and cash equivalents | |
| (46,131 | ) | |
| (232,521 | ) |
| | |
| | | |
| | |
| Cash at beginning of period - discontinued operations | |
| 48,161 | | |
| 344,636 | |
| Less: Cash at end of period - discontinued operations | |
| – | | |
| (112,115 | ) |
| Cash at end of period - continuing operations | |
$ | 2,030 | | |
$ | – | |
| | |
| | | |
| | |
| Supplemental schedule of non-cash investing and financing activities: | |
| | | |
| | |
| Sale of discontinued entity | |
$ | 598,573 | | |
$ | – | |
| Common shares issued with promissory notes and recorded as debt discounts | |
$ | 96,037 | | |
$ | – | |
| | |
| | | |
| | |
| Supplemental cash flow disclosure: | |
| | | |
| | |
| Income tax paid | |
$ | – | | |
$ | – | |
| Interest paid | |
$ | – | | |
$ | 6,949 | |
See notes to the unaudited consolidated financial
statements.
TARSIER LTD.
NOTES TO UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
NOVEMBER 30, 2015
NOTE 1 – ORGANIZATION
Tarsier Ltd. (the “Company”)
was incorporated in Delaware on November 19, 2010 originally under the name China International Enterprise Corp. In 2011, the Company
changed its name to HXT Holdings, Inc. On September 2, 2011, the Company acquired all of the outstanding capital stock of China
Metal Holding, Inc. (“China Metal”), a privately-owned corporation formed in the State of Delaware. China Metal is
a holding company whose only asset, held through a subsidiary, is 100% of the registered capital of Changzhou Huayue Electronics
Company, Limited (“Changzhou Huayue”), a limited liability company organized under the laws of the People’s Republic
of China (“China” or “PRC”). Changzhou Huayue is engaged in developing, manufacturing and selling high
frequency induction lights and electrolytic capacitors. Changzhou Huayue’s offices and manufacturing facilities are located
in China. Effective November 2, 2011, the Company changed its name to Huayue Electronics, Inc. (“HUAY”).
On April 23, 2015,
the Company entered into a Partnership Interest Purchase Agreement to purchase 51% of the limited liability partnership interests
in SavWatt Kazakhstan Ltd. (“SavWatt”), a limited liability partnership formed under the laws of Kazakhstan. SavWatt
Kazakhstan was formed by Sutton Global Associates, Inc. (see Note 8) on April 8, 2015 to engage in the business of manufacturing
and distributing energy efficient products in Kazakhstan and other Eastern European countries. No funding has been provided by
either party and therefore there is no non-controlling interest as of November 30, 2015.
In May 2015, the Company
approved plans to dispose of China Metal, including its subsidiary Changzhou Huayue. China Metal was sold on June 12, 2015. Refer
to Note 4 for further discussion.
On September 8, 2015,
the Company formed Tarsier Systems Ltd., a New York corporation. Tarsier Systems is a 100% subsidiary. On December 4, 2015, the
Company change its name to Tarsier Ltd.
NOTE 2 – BASIS OF PRESENTATION
These unaudited consolidated
financial statements as of and for the three (3) and six (6) months ended November 30, 2015 and 2014, respectively, reflect all
adjustments including normal recurring adjustments, which, in the opinion of management, are necessary to present fairly the financial
position, results of operations and cash flows for the periods presented in accordance with the accounting principles generally
accepted in the United States of America.
These interim unaudited consolidated financial
statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto for the years
ended May 31, 2015 and 2014, respectively, which are included in the Company’s May 31, 2015 Annual Report on Form 10-K filed
with the United States Securities and Exchange Commission on September 15, 2015 and Form 10-K/A filed on October 13, 2015. The
Company assumes that the users of the interim financial information herein have read, or have access to, the audited consolidated
financial statements for the preceding period, and that the adequacy of additional disclosure needed for a fair presentation may
be determined in that context. The results of operations for the three (3) and six (6) months ended November 30, 2015 are not necessarily
indicative of results to be expected for the entire year ending May 31, 2016.
NOTE 3 – GOING CONCERN
The accompanying unaudited consolidated
financial statements have been prepared on a going concern basis. The Company had negative working capital of $633,564 at November
30, 2015 and incurred a net loss of $1,030,850 for the six months ended November 30, 2015. The Company also has certain promissory
notes which are past due.
These matters, among others, raise
substantial doubt about the ability of the Company to continue as a going concern. These unaudited consolidated financial
statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary
should the Company be unable to continue as a going concern.
TARSIER LTD.
NOTES TO UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
NOVEMBER 30, 2015
The Company's ability
to continue as a going concern is dependent upon its ability to obtain the necessary financing to meet its obligations and repay
its liabilities arising from normal business operations when they come due, and to fund acquisitions in order to generate profitable
operations in the future.
The Company hopes that future funds
received will enable it to execute its business plan and generate positive operating results. However, the outcome of these
matters cannot be predicted at this time and there are no assurances that the Company will be successful in accomplishing its
plans.
NOTE 4 - DISCONTINUED OPERATIONS
In May 2015, the Company approved plans to dispose
of its subsidiary China Metal, including China Metal’s wholly-owned subsidiary, Changzhou Huayue. Management elected to dispose
of the entities because the Company intends to focus its operations outside of China and rather in the U.S. and other foreign markets.
On June 2, 2015, the Company entered into a Stock Purchase Agreement to sell 100% of the issued and outstanding shares of common
stock of China Metal. The Company completed the sale on June 12, 2015.
In accordance with ASC 205-20, China Metal,
and its wholly-owned subsidiary Changzhou Huayue, have been presented as a discontinued business in the consolidated financial
statements as of May 31, 2015. Previously reported results for the unaudited comparable periods ended November 30, 2014 have been
restated to reflect this reclassification.
The operational results
of China Metal are presented in the “Net income from discontinued operations, net of taxes” line item on the unaudited
consolidated statement of operations for the periods ended November 30, 2014. The assets and liabilities of the discontinued business
are presented on the consolidated balance sheet as of May 31, 2015 as assets and liabilities from discontinued operations.
On June 12, 2015,
the Company completed its sale of China Metal. The Company repurchased 10,000,000 shares of its outstanding common stock from the
seller and delivered to the seller 100% of the capital stock of China Metal, which was valued at $598,573 at the time of the sale.
The shares were retired and the cost was recorded against additional paid-in capital. As the seller was a related party (see Note
8), the transaction was recorded at cost and no gain or loss was recorded on the sale. There was no activity in the discontinued entity from June 1, 2015 through the date of the sale.
The major components
of net income from discontinued operations were as follows:
| | |
Three Months Ended November 30, | | |
Six Months Ended November 30, | |
| | |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
| Net sales | |
$ | - | | |
$ | 2,763,880 | | |
$ | - | | |
$ | 6,283,572 | |
| Cost of goods sold | |
| - | | |
| 1,380,696 | | |
| - | | |
| 3,323,160 | |
| Gross profit | |
| - | | |
| 1,383,184 | | |
| - | | |
| 2,960,412 | |
| General and administrative expenses | |
| - | | |
| 839,642 | | |
| - | | |
| 2,550,717 | |
| Income tax provision (benefit) | |
| - | | |
| 88,296 | | |
| - | | |
| 22,462 | |
| Net income | |
$ | - | | |
$ | 468,307 | | |
$ | - | | |
$ | 341,021 | |
| Comprehensive income | |
$ | - | | |
$ | 470,705 | | |
$ | - | | |
$ | 577,831 | |
TARSIER LTD.
NOTES TO UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
NOVEMBER 30, 2015
The major classes of
assets and liabilities from discontinued operations were as follows:
| | |
November 30, | | |
May 31, | |
| | |
2015 | | |
2015 | |
| | |
(Unaudited) | | |
| |
| Cash | |
$ | - | | |
$ | 48,161 | |
| Accounts and other receivables | |
| - | | |
| 2,776,773 | |
| Advances to suppliers | |
| - | | |
| 1,866,075 | |
| Investment in sales-type lease | |
| - | | |
| 2,384,088 | |
| Total current assets | |
| - | | |
| 8,703,090 | |
| Property and equipment | |
| - | | |
| 1,045,827 | |
| Long-term receivables | |
| - | | |
| 2,950,151 | |
| Total assets | |
$ | - | | |
$ | 12,864,758 | |
| | |
| | | |
| | |
| Short-term loans | |
| - | | |
| 2,984,834 | |
| Accounts payable | |
| - | | |
| 2,630,700 | |
| Taxes payable | |
| - | | |
| 2,685,297 | |
| Due to related parties | |
| - | | |
| 2,136,921 | |
| Total current liabilities | |
| - | | |
| 11,928,595 | |
| Total liabilities | |
$ | - | | |
$ | 12,266,185 | |
NOTE 5 - SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
Principles of consolidation
The unaudited consolidated
financial statements include the financial statements of the Company and its subsidiaries. All inter-company transactions and balances
are eliminated in consolidation.
Use of estimates
The preparation of
financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements,
as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Significant accounting estimates reflected in the Company’s consolidated financial statements includes promissory note debt
discounts. Actual results could differ from those estimated by management.
Non-controlling interests
Non-controlling interests
in our subsidiaries are recorded in accordance with the provisions of ASC 810 “Consolidation”, and are reported as
a component of equity, separate from the parent company’s equity. Purchase or sale of equity interests that do not result
in a change of control are accounted for as equity transactions. Results of operations attributable to the non-controlling interests
are included in the Company’s consolidated results of operations and, upon loss of control, the interest sold, as well as
interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.
TARSIER LTD.
NOTES TO UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
NOVEMBER 30, 2015
Cash and cash equivalents
For purposes of the
statement of cash flows, the Company considers all highly-liquid investments with an original maturity of three months or less
to be cash equivalents.
Revenue recognition
The Company’s
revenue is derived from the sale of products. The Company’s revenue recognition policies are in compliance with Staff Accounting
Bulletin 104, included in the Accounting Standards Codification (“ASC”) as ASC 605, Revenue Recognition.
The Company’s determination to recognize revenue is based on the following:
| · | Persuasive evidence that an arrangement (sales contract) exists between a willing customer and us that outlines the terms of
the sale (including customer information, product specification, quantity of goods, purchase price and payment terms). |
| · | Delivery is considered to have occurred when the risks, rewards and ownership of the products are transferred from the Company
to its customers. |
| · | The Company’s price to the customer is fixed and determinable as specifically outlined in the sales contract. |
| · | For customers to whom credit terms are extended, the Company assesses a number of factors to determine whether collection from
them is probable, including past transaction history with them and their credit-worthiness. All credit extended to customers is
pre-approved by management. If the Company determines that collection is not reasonably assured, the Company defers the recognition
of revenue until collection becomes reasonably assured, which is generally upon receipt of payment. |
Payments
received before satisfaction of all of the relevant criteria for revenue recognition are recorded as advance from customers.
Income taxes
The Company accounts
for income tax under the asset and liability method as stipulated by ASC 740, which requires recognition of deferred tax assets
and liabilities for the expected future tax consequences of the events that have been included in the financial statements or tax
returns. Deferred income taxes will be recognized if significant temporary differences between tax and financial statements occur.
Valuation allowances are established against net deferred tax assets when it is more likely than not that some portion or all of
the deferred tax asset will not be realized. Included in the deferred tax asset is the net operating loss carryforwards. The Company
is not able to predict if such future taxable income will be more likely than not sufficient to utilize the benefit. As such, the
Company does not believe the benefit is more likely than not to be realized and they have recognized a full valuation allowance
for these deferred tax assets as of November 30, 2015 and 2014.
An uncertain tax position
is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination,
with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than
50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax
benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense
in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the six months
ended November 30, 2015 and 2014.
TARSIER LTD.
NOTES TO UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
NOVEMBER 30, 2015
Fair value of financial instruments
The Financial Accounting
Standards Board’s ASC Topic 820, “Fair Value Measurements”, defines fair value, establishes a three-level valuation
hierarchy for fair value measurements and enhances disclosure requirements.
The three levels are
defined as follows:
Level 1 - inputs to the valuation
methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2 - inputs to the valuation
methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar
assets in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated
by observable market data.
Level 3 - inputs to
the valuation methodology are unobservable.
The Company’s
accounts payable and accrued expenses due to shareholder and notes payables approximate fair values due to their short-term maturities.
Stock-based compensation
The Company accounts for stock-based instruments
issued to employees in accordance with ASC Topic 718. ASC Topic 718 requires companies to recognize in the statement of operations
the grant-date fair value of stock options and other equity based compensation issued to employees. The Company accounts for nonemployee
share-based awards in accordance with ASC Topic 505-50.
Earnings (loss) per common share
The Company utilizes the guidance per FASB Codification
ASC 260 Earnings per Share (“ASC 260”). Basic earnings per share are calculated by dividing income available to stockholders
by the weighted average number of common stock shares outstanding during each period. Diluted earnings per share are computed using
the weighted average number of common stock shares and dilutive common share equivalents outstanding during the period. Dilutive
common stock share equivalents consist of common shares issuable upon the conversion of convertible notes and the exercise of stock
options and warrants (calculated using the modified treasury stock method). There were no such securities for the three and six
month periods ended November 30, 2015 and 2014.
Foreign currency translation
The functional currency
of the U.S. parent company is U.S. Dollars, or USD. The functional currency of the discontinued subsidiary at May 31, 2015 is Renminbi
or RMB, and its reporting currency is U.S dollars for the purpose of these financial statements. The accounts of the
Chinese subsidiary were translated into USD in accordance with ASC Topic 830 “Foreign Currency Matters,” According
to Topic 830, all assets and liabilities were translated at the exchange rate on the balance sheet date; stockholders’ equity
is translated at historical rates and statement of income items are translated at the weighted average exchange rate for the period.
The resulting translation adjustments are reported under other comprehensive income in accordance with ASC Topic 220, “Comprehensive
Income.” Gains and losses resulting from the translations of foreign currency transactions and balances are reflected in
the unaudited statement of operations and comprehensive income for the three and six months ended November 30, 2014.
TARSIER LTD.
NOTES TO UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
NOVEMBER 30, 2015
Reclassification
Certain prior period
amounts have been reclassified to conform to the current period presentation. The reclassification had no impact on previously
reported results of operations or stockholders’ equity.
Certain items of the
discontinued entity, such as statutory reserves and accumulated other comprehensive income, were reclassified to retained earnings
in the consolidated balance sheet as of May 31, 2015.
NOTE 6 – NOTE PAYABLE
On August 24, 2015,
the Company entered into an unsecured, short-term promissory note with an accredited investor for $79,000. The note earns interest
at 2% per annum and matured on November 23, 2015. In conjunction with the note, the Company issued 180,000 common shares to the
investor. The shares resulted in a debt discount of $44,790 based on the relative fair value of the shares issued, of which $3,459
and $41,511 was amortized during the three and six months ended November 30, 2015. The debt discount was fully amortized and the
principal was still outstanding and past due at November 30, 2015. Accrued interest is included in accounts payable and accrued
expenses on the unaudited consolidated balance sheet.
On August 25, 2015,
the Company borrowed an additional $11,000 from the same investor. The loan is non-interest bearing, unsecured and due on demand.
On September 3,
2015, the Company entered into an unsecured, short-term promissory note with an accredited investor for $78,000. The note matured
on December 3, 2015. In conjunction with the note, the Company issued 156,000 common shares to the investor. The shares resulted
in a debt discount of $41,889 based on the relative fair value of the shares issued, of which $40,508 was amortized during the
three and six months ended November 30, 2015. As of November 30, 2015, the note payable, net of unamortized debt discount, was
$76,619. The note is still outstanding and past due as of the filing date of this report.
On November 23,
2015, the Company entered into an unsecured, short-term promissory note with an existing accredited investor for $25,000. The note
matures on January 24, 2016. In conjunction with the note, the Company issued 25,000 common shares to the investor. The shares
resulted in a debt discount of $9,177 based on the relative fair value of the shares issued, of which $499 was amortized during
the three and six months ended November 30, 2015. As of November 30, 2015, the note payable, net of unamortized debt discount,
was $16,322.
During the three months
ended November 30, 2015, the Company received consulting services from a firm. In exchange for these services, on September 30,
2015 the Company issued an unsecured note payable in the principal amount of $25,000. The note bears interest at 5% and matures
on September 30, 2016.
NOTE 7 - STOCKHOLDERS’ EQUITY
Pursuant to the Partnership
Interest Purchase Agreement dated April 23, 2015, the Company issued 3,000,000 common shares to a related party. Refer to Note
8 for further discussion.
On June 12, 2015, the
Company repurchased 10,000,000 shares of the Company’s outstanding common stock pursuant to the sale of China Metal. Refer
to Note 8 for further discussion.
In August 2015, the
Company agreed to issue options to purchase 2,000,000 shares of common stock per consulting agreements. These options, as well
as the options per Isaac H. Sutton’s employment agreement, are subject to Board approval at the time of this report.
TARSIER LTD.
NOTES TO UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
NOVEMBER 30, 2015
During the six months
ended November 30, 2015, the Company issued 105,162 common shares pursuant to consulting agreements for a total value of $60,000.
The fair value of the stock was determined using the closing trading prices on the issuance dates. The amounts are included in
professional fees in the unaudited consolidated statements of operations and comprehensive income.
On November 30,
2015, the Company issued 500,000 common shares to the members of the Board of Directors as compensation for being board members
for a total value of $290,000, or $0.58 per share. The fair value of the stock was determined using the closing trading price on
the issuance date. The amounts are included in salaries and compensation in the unaudited consolidated statements of operations
and comprehensive income.
As mentioned in Note
6 above, the Company issued 361,000 common shares during the six months ended November 30, 2015 in conjunction with promissory
note agreements.
As of November 30,
2015 and May 31, 2015, the Company had 25,291,403 and 34,325,241 common shares issued and outstanding, respectively.
NOTE 8 – RELATED PARTY TRANSACTIONS
An individual or entity
is considered to be a related party if the person or the entity has the ability, directly or indirectly, to control the other
party or exercise significant influence over the other party in making financial and operational decisions. An individual or entity
is also considered to be related if the person or the entity is subject to common control or common significant influence.
On June 12, 2015,
the Company sold 100% of its subsidiary China Metal to Mr. Shudong Pan, an officer and director of China Metal and Changzhou Huayue.
As part of the sale, the Company repurchased 10,000,000 of the outstanding common shares held by Mr. Pan. The repurchase of common
shares was recorded at cost of $598,573 as additional paid-in capital, which represented the value of China Metal’s net assets
at the time of the sale.
During the period ended
November 30, 2015, Sutton Global Associates Inc. (“Sutton Global”), a company controlled by the chief executive officer,
paid certain expenses on behalf of the Company. The balance owed to Sutton Global is included as due to shareholder on the unaudited
consolidated balance sheet.
NOTE 9 – COMMITMENTS AND CONTINGENCIES
On April 27, 2015, the Company entered into
an employment agreement with Isaac H. Sutton to serve as Chief Executive Officer of the Company. The agreement provides for an
initial term of three years and will terminate on April 27, 2018. The employment agreement will be extended automatically for successive
one-year periods thereafter unless the Company or Mr. Sutton gives written notice to the other to allow the employment agreement
to expire. Mr. Sutton will be paid an initial annual base salary of $120,000. At November 30, 2015, accrued salary owed to Mr.
Sutton is included in due to shareholder per the unaudited consolidated balance sheet.
On September 10 , 2015, the Company
entered into a purchase agreement to acquire 100% of the limited liability membership interests of BlueCo Energy LLC, a New
York limited liability company (“BlueCo”), in consideration for the issuance of 20,000,0000 common shares. Upon
closing, the Company will issue the common shares to GoCOM Corporation, a Nevada corporation (“GoCOM”), which is
controlled by Isaac H. Sutton. There can be no assurance that the Company will complete the proposed acquisition of
BlueCo.
TARSIER LTD.
NOTES TO UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS
NOVEMBER 30, 2015
In addition, Mr. Sutton will be eligible to
receive each year an incentive bonus in an amount up to 100% of his base salary and a revenue bonus in an amount equal to 0.75%
of the amount by which the Company’s net revenues in such year exceed $25 million.
Subject to the approval
of the Board, the Company will also grant to Mr. Sutton a stock option to purchase 3,000,000 shares of the Company’s common
stock at a price per share not less than the per-share fair market value of the common stock on the date of grant. The option will
vest with respect to one-third of the shares on the first anniversary of the date of grant and as to the remaining two-thirds of
the shares in 24 equal monthly installments thereafter.
The employment agreement
also provides that Mr. Sutton will be entitled to participate in any short-term and long- term incentive plans generally available
to executive officers of the Company, to participate with other executive officers in any of the Company’s employee fringe
benefit plans, and to be reimbursed for certain business-related expenses. In addition, the employment agreement provides for certain
benefits upon termination of Mr. Sutton’s employment under certain circumstances, including a change of control of the Company,
as defined in the employment agreement, and to certain death benefits.
NOTE 10 – RECENT ACCOUNTING
PRONOUNCEMENTS
In April 2014, the
FASB issued authoritative guidance, which specifies that only disposals, such as a disposal of a major line of business, representing
a strategic shift in operations should be presented as discontinued operations. In addition, the new guidance requires expanded
disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities,
income, and expenses of discontinued operations. The Company has adopted the guidance as described in Note 3.
NOTE 11 - SUBSEQUENT EVENTS
On December 1, 2015, the Company consummated
an asset purchase agreement with DemanSYS Energy Inc. (“DemanSYS”), a Delaware corporation, for all rights under selected
contracts, and certain intellectual property rights. In consideration for the purchased assets, the Company issued a convertible
promissory note for $450,000 due in various installments from January to June 2016. The note is convertible upon default, at the
option of the holder, into shares of common stock at a 30% discount to the 10 day average closing price. The note is also convertible
at the option of the lender, in the event of default, into shares of common stock at a 30% discount to the 10 day average closing
price. The Company also issued 2,500,000 common shares to DemanSYS to be held in escrow, subject to revenue targets to be met in
regards to the software platform acquired. The Company is still determining the purchase price allocation.
On December 4, 2015, the Company filed an amendment
with the State of Delaware to increase the authorized common stock from 60,000,000 to 150,000,000 shares. The Board also approved
the increase of authorized preferred stock from 1,000,000 to 10,000,000 shares.
In December 2015, the
Company agreed to issue options to purchase 10,800,000 shares of common stock per four employment agreements. These options are
subject to Board approval at the time of this report. In August 2015, the Company agreed to issue options to purchase 2,000,000
shares of common stock per consulting agreements. These options, as well as the options per Isaac H. Sutton’s employment
agreement, are subject to Board approval at the time of this report.
On January 4, 2016, the Company issued 1,000,000
common shares pursuant to a Joint Venture Agreement. The shares are to be held in escrow pending the successful performance of
the Joint Venture partner.
On January 4, 2016, the Company issued 30,000
common shares pursuant to consulting agreements, and 100,000 common shares pursuant to an employment agreement. The fair value
of the stock was determined using the closing trading price on the issuance date. The amounts are included in professional fees
and salaries and compensation, respectively, in the unaudited consolidated statements of operations and comprehensive income.
| ITEM 2. |
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT OF OPERATIONS |
Forward-Looking Statements: No Assurances Intended
In addition to historical information, this Quarterly Report
contains forward-looking statements, which are generally identifiable by use of the words “believes,” “expects,”
“intends,” “anticipates,” “plans to,” “estimates,” “projects,” or similar
expressions. These forward-looking statements represent Management’s belief as to the future of Tarsier Ltd. Whether those
beliefs become reality will depend on many factors that are not under Management’s control. Many risks and uncertainties
exist that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that
might cause such a difference include, but are not limited to, those discussed in Section 1A titled “Risk Factors”
in the Amendment No. 1 to the Company’s Annual Report on Form 10K/A filed on October 13, 2015. Readers are cautioned not
to place undue reliance on these forward-looking statements. We undertake no obligation to revise or publicly release the results
of any revision to these forward-looking statements.
Company Overview
After completing
the reorganization of our business and management in June 2015 as discussed in note 1 to our financial statements included in this
report, we intend to engage in the business of:
| · | developing and selling LED street lighting and state-of-the-art Smart
City technology |
| · | providing large corporations, institutions, facilities and factories
with energy management software and solutions |
| · | providing energy audit services that help customers reduce their energy
consumption and save money |
| · | providing commercial and residential customers sustainable energy
products; and |
| · | developing innovative energy-saving products, including LED light
bulbs and fixtures, battery back-up systems and micro-grid technology. |
Smart City Technology
Cities worldwide compete daily to engage
and attract new residents, businesses and visitors. As a result, constant attention must be paid to providing safer neighborhoods,
less stressful means of transportation, a vibrant economic climate and an overall better quality of life. Local and regional government
leaders continue to look toward “Smart City” technology to provide a strong foundation on which they can build their
city’s future. We plan to capitalize on this emerging opportunity by establishing our company as an innovative developer
and provider of Smart City technology. We believe that the streetlight will become the eyes and ears of a city. Each streetlight
pole is capable of illuminating, monitoring and protecting its assigned territory. Through advances in technology, the streetlight
is quickly morphing into a multi-faceted observation tower capable of providing a city’s control center with important real-time
data, including pedestrian activity, traffic flow, video surveillance and weather information. The newest LED lights can be Wi-Fi-enabled
or equipped with BLE (Bluetooth Low Energy), VLC (Visual Light Communication) components that allow a city to build a vast data
network that can be used to obtain and/or provide critical information and content to its workers, residents or visitors via their
mobile devices.
We believe Smart Cities will not only be
safer and more convenient cities, but they will be “greener,” more cost-effective cities as the advances in LED lighting
can dramatically reduce a cities energy consumption. We are in the process of developing and/or acquiring the innovative talent,
patents and technology that we believe will be required to enable our company to be a driving force in shaping the cities of tomorrow.
We plan on being pioneers as the world of utility merges with the worlds of convenience, data dissemination, media and lifestyle.
Energy Management Software and Solutions
While many companies have rightfully sought
out more cost-effective energy suppliers, we intend to establish a team of innovators in the area of “energy consumption
reduction.” By combining their expertise with a comprehensive energy management software solution, we believe we can help
our clients to significantly reduce their energy cost without disrupting their respective businesses. We have recently acquired
this technology, which will be marketed under the name T-Flow Energy Management Software. T-Flow enables the Company to be able
to go into any large building, facility, campus or factory and monitor the energy demand of its equipment (e.g. HVAC, Heavy Machinery,
Lighting, etc.). Our software would then continually provide the critical “load data” our clients need to effectively
manage overall demand. Clients are compensated in the form of rebates for this access and the Company participates in the revenues
for providing the software and monitoring services.
According to the Federal Energy Regulatory
Commission, demand response (DR) is defined as “changes in electric usage by end-use customers from their normal consumption
patterns in response to changes in the price of electricity over time, or to incentive payments designed to induce lower electricity
use at times of high wholesale market prices or when system reliability is jeopardized.” DR includes all intentional modifications
to consumption patterns of electricity of induce customers that are intended to alter the timing, level of instantaneous demand,
or the total electricity consumption. It is expected that demand response programs will be designed to decrease electricity consumption
or shift it from on-peak to off-peak periods depending on consumers’ preferences and lifestyles. Demand response activities
are defined as “actions voluntarily taken by a consumer to adjust the amount or timing of his energy consumption”.
Actions are generally in response to an economic signal (e.g. energy price, or government and/or utility incentive). Demand response
is a reduction in demand designed to reduce peak demand or avoid system emergencies. As a result, demand response can be a more
cost-effective alternative than adding generation capabilities to meet the peak and or occasional demand spikes. The underlying
objective of DR is to actively engage customers in modifying their consumption in response to pricing signals. The goal is to reflect
supply expectations through consumer price signals or controls and enable dynamic changes in consumption relative to price.
In electricity grids, DR can be used as
a dynamic demand mechanism to manage customer consumption of electricity in response to supply conditions. For example, DR can
be applied to have electricity customers reduce their consumption at critical times or in response to market prices.
The difference is that demand response mechanisms respond to explicit requests to shut off, whereas dynamic demand devices
passively shut off when stress in the grid is sensed. Demand response can involve actually curtailing power used or by starting
on-site generation which may or may not be connected in parallel with the grid.
This is a quite different concept from energy efficiency, which means using less power to perform the same tasks, on a continuous
basis or whenever that task is performed. At the same time, demand response is a component of smart energy demand, which also includes
energy efficiency, home and building energy management, distributed renewable resources, and electric vehicle charging.
Current demand response schemes are implemented
with large and small commercial, as well as residential customers, often through the use of dedicated control systems to shed loads
in response to a request by a utility or market price conditions. Services (lights, machines, air conditioning) are reduced according
to a preplanned load prioritization scheme during the critical time frames. An alternative to load shedding is on-site generation
of electricity to supplement the power grid. Under conditions of tight electricity supply, demand response can significantly decrease
the peak price and, in general, electricity price volatility.
Demand response is generally used to refer
to mechanisms used to encourage consumers to reduce demand, thereby reducing the peak demand for electricity. Since electrical
generation and transmission systems are generally sized to correspond to peak demand (plus margin for forecasting error and unforeseen
events), lowering peak demand reduces overall plant and capital cost requirements. Depending on the configuration of generation
capacity, however, demand response may also be used to increase demand (load) at times of high production and low demand. Some
systems may thereby encourage energy storage to arbitrage between periods of low and high demand (or low and high prices).
There are three types of demand response
- emergency demand response, economic demand response and ancillary services demand response. Emergency demand response is employed
to avoid involuntary service interruptions during times of supply scarcity. Economic demand response is employed to allow electricity
customers to curtail their consumption when the productive or convenience of consuming that electricity is worth less to them than
paying for the electricity. Ancillary services demand response consists of a number of specialty services that are needed to ensure
the secure operation of the transmission grid and which have traditionally been provided by generators.
Energy Audits
Few commercial or residential energy customers
are aware of how much energy they waste every single day. We plan to form a new division, to be known as Tarsier Advisors, to address
this opportunity. The “energy audit” will not only help customers save money, but it will help the planet by reducing
a consumer’s carbon footprint. In addition, it will help us build a credible dialogue with new customers, each of which will
be in need of services such as: Sustainable Energy (Electric and Gas) - a service that we expect to provide through our Tarsier
Energy division; LED Lighting - products that can be provided by our recently-formed Tarsier Innovation division; and Energy Management,
a service that we expect to provide by our Tarsier Systems division. We believe this seamless vertical integration will help position
us as a leader in energy, energy savings and Smart City technology.
LED Bulbs
and Fixtures
Emitting more light per watt than incandescent
bulbs and capable to lasting up to 100,000 hours, LED lights are revolutionizing the lighting industry. Unlike their virtually
obsolete counterparts, LED lights contain no harmful ultraviolet rays, do not visibly flicker, and do not contain any toxic substances.
Additionally, LED lighting is projected to achieve a market share of
84% of lumen-hour sales in the general illumination market by 2030, reducing lighting energy consumption in that year alone by
40%, for a savings of 3.0 quads (261 terawatt-hours) - worth over $26 billion at today’s energy prices and equivalent to
the total energy consumed by nearly 24 million U.S. homes ( per US Department of Energy).
Our Tarsier Innovation division, which was
formed to engage in the development and sales of innovative energy-savings products, has aligned itself with manufacturers of quality
LED products, including, but not limited to, LED streetlights and LED tubes, spots and floodlights. We plan to supply both residential
customers and commercial businesses with LED lighting solutions. Our Tarsier Innovation division expects to work closely with municipalities
and state governments interested in procuring LED lighting and other Smart City technology to not only provide them with the best
possible solution, but to assist them in the procurement of financing from China-based lenders that are working closely with our
Chinese manufacturing partners.
To spur adoption of energy efficient products,
U.S. federal law mandated that all light bulbs become 30% more efficient by 2012. The Federal government currently offers tax deductions
of up to $.60 per square foot if a new lighting system is installed that reduces power usage by 25% to 40% of the standard lighting
power values specified by AHSRAE standard 90.1-2001
The lighting industry is intensely competitive
and many of our competitors are large, well-funded companies that have substantially larger staffs, manufacturing and distribution
facilities and financial resources than we have at the present time. In the LED market, we will compete with companies that manufacture
or sell nitride-based LED chips as well as those that sell LED components. Competitors are offering new blue, green and white LEDs
with aggressive prices and improved performance. These competitors may reduce average sales prices faster than we are able to reduce
costs, and competitive pricing pressures may accelerate the rate of decline of our average sales prices.
We also will compete with major lighting
manufacturers, including General Electric, Philips and Sylvania. Although these companies have established reputations in the marketplace,
we believe we can establish our company as a trusted brand because essentially everyone is a newcomer to the LED space. In addition,
while these larger companies have more intensive research and development, sales and marketing resources, we believe our smaller
infrastructure should allow us to be more nimble, be able to bring new innovations to market faster and be more price competitive
as we too are working with high-yield manufacturers. While we also face competition from smaller U.S.-based lighting companies,
we believe our product innovation, as well as our branding and marketing expertise, will help us rise above the weakest competition
and stay head-to-head with the best competitors in the marketplace.
We intend to gain market share is by
vertically integrating our energy audit businesses, our energy reselling business and our LED products business. We believe that
clients that engage in an energy audit will also be seeking out cost-effective, energy-consumption-reducing LED products. Similarly,
we believe our Tarsier Energy division customers will have a similar need as they seek to reduce energy costs by reducing consumption.
We are currently in the process of developing an online retail portal that will allow both commercial and residential customers
to purchase lighting products online. It is currently contemplated that our Tarsier Energy and Tarsier Advisors division clients
will have the opportunity to redeem rebate certificates we provide to them on this site to secure a variety of LED lights at a
substantial savings.
Micro-Grid/Battery Back Up
In
October 2012, Hurricane Sandy devastated power infrastructures from Jamaica and Cuba to New York City and beyond. Power was disrupted
to millions of families and businesses for days, weeks and even months. Electric grid vulnerability was back in the mind of government
leaders, emergency management personnel and even customers. The advances in battery technology over the last decade is palpable.
The purchases of electric cars have gone well beyond the “early adopters” and into the mainstream. Fledgling companies
like Tesla have emerged as formidable competition for Detroit’s oldest brands, and Tesla has recently announced that it has
set its sights on other major applications for its innovative battery technologies. We also plan to become a formidable competitor
in the world of battery storage and micro-grid technology. While the world has embraced the concept of “energy saving,”
there is still a heavy reliance on the worldwide energy grid, the complex system of energy supply that spans the globe. Ultimately,
it is those that achieve total independence from this energy grid that will be the least vulnerable and most valuable. Over the
next several years, our Tarsier Innovation division plans will to forge new ground in battery storage and micro-grid technology.
As discussed above, we acquired software program that can manage energy that is purchased at “off peak” times, when
costs are lower, stored on a battery and re-deployed during “Peak” times when energy costs typically are higher.
Energy Reselling
We recently entered into an agreement to
acquire BlueCo Energy LLC, a New York ESCO (Energy Savings Company). BlueCo has historically served approximately 5,000 customers
within New York State. If acquired, BlueCo will adopt the Tarsier Energy brand. The current plan is for Tarsier Energy to continue
to offer a variety of pricing models, which include fixed-price plans, BlueCo’s flat-rate plan for natural gas, and variable-price
plan for some of BlueCo’s natural gas and electricity customers. Under our fixed price service options, our customers will
purchase natural gas and electricity at a fixed price over the life of the customer contract, which provides our customers with
protection against increases in natural gas and electricity prices. Our fixed-price contracts will typically have a term of one
to two years for residential customers and up to three years for commercial customers. Most will provide for an early termination
fee in the event that the customer terminates service prior to the expiration of the contract term. Our variable-price service
options will provide for a month-to-month term and they will be priced based on our forecasts of underlying commodity prices and
other market factors, including the competitive landscape in the market and the regulatory environment. For instance, in a typical
market, we can offer fixed-price electricity plans for 6, 12 and 24 months and natural gas plans from 12 to 24 months, which may
come with or without a monthly service fee and/or a termination fee. We can also offer variable price natural gas and electricity
plans that offer an introductory fixed price that is generally applied for a certain number of billing cycles, typically two billing
cycles in our current markets, then switches to a variable price based on market conditions. Our variable plans may or may not
provide for a termination fee, depending on the market and customer type.
Our Tarsier Energy division also plans to
offer renewable and carbon neutral (“green”) products in certain markets. Green energy products are a growing market
opportunity and typically provide increased unit margins as a result of improved customer satisfaction and less competition. Renewable
electricity products allow customers to choose electricity sourced from wind, solar, hydroelectric and bio fuels sources, through
the purchase of renewable energy credits (“RECs”). Carbon neutral gas products give customers the option to reduce
or eliminate the carbon footprint associated with their energy usage through the purchase of carbon offset credits. These products
typically provide for fixed or variable prices and generally follow the terms of our other products with the added benefit of carbon
reduction and reduced environmental impact.
We plan to identify market opportunities
by redeveloping price curves in each of the markets we serve and comparing the market prices and the price the local regulated
utility is offering. We can then determine if there is an opportunity in a particular market based on our ability to create an
attractive customer value proposition that is also able to enhance our profitability. The attractiveness of a product from a consumer’s
standpoint is based on a variety of factors, including overall pricing, price stability, contract term, sources of generation and
environmental impact and whether or not the contract provides for termination and other fees. Product pricing will also be based
on several other factors, including the cost to acquire customers in the market, the competitive landscape and supply issues that
may affect pricing.
Once a product has been created for a particular
market, we plan to develop a marketing campaign using a combination of sales channels, with an emphasis on door-to-door marketing,
outbound telemarketing, event marketing, geo-targeted internet advertising/social media and local advertising/PR. We plan to identify
and acquire customers through a variety of additional sales channels, including our inbound customer care call center, online marketing,
email marketing, direct mail, direct sales, brokers and consultants. We also believe that our uniqueness will be that both our
Energy Audit and Energy Management divisions will help us identify new customers and vice versa. We plan on entering into non-exclusive
arrangements with independent sales, marketing and public relations vendors and our marketing team will continually monitor their
effectiveness. A close eye will be kept on customer acquisition costs to ensure that we are maximizing the return on our marketing
dollars.
Our management and marketing teams will
not only devote significant attention to customer acquisition, but both a “refer-a-friend” incentive and a “loyalty”
incentive program will be developed. We will continually educate our customer and keep them informed of their historical usage,
attrition rates and consumer behavior so we can continue to build trust. This will also allow us to specifically tailor competitive
products that aim to maximize the total expected return from energy sales to a specific customer. This is what we refer to as Customer
Lifetime Value (CLV).
We plan to hedge and procure our energy
requirements from various wholesale energy markets, including both physical and financial markets through short and long term contracts.
Our in-house energy supply team will be responsible for managing our commodity positions (including energy procurement, capacity,
transmission, renewable energy, and resource adequacy requirements) within risk tolerance as defined by our risk management policies.
We plan to procure our natural gas and electricity requirements at various trading hubs, city gates and load zones. When we procure
commodities at trading hubs, we will be responsible for delivery to the applicable local regulated utility for distribution.
We plan to purchase physical natural gas
supply from several counter parties in the wholesale natural gas market. We plan to periodically adjust our portfolio of purchase/sale
contracts based upon continual analysis of our forecasted load requirements. Natural gas will then be delivered to the local regulated
utility city-gate or other specified delivery points where the local regulated utility takes control of the natural gas and delivers
it to individual customers’ locations.
In most markets, we will typically hedge
our electricity exposure with financial products and then purchase the physical power directly from the Independent System Operator
(“ISO”) for delivery. From time to time, we plan to use a combination of physical and financial products to hedge our
electricity exposure before buying physical electricity in the day ahead real-time market from the ISO.
We will be assessed monthly for ancillary
charges, such as reserves and capacity in the electricity sector by the ISOs. For instance, the ISOs will charge all retail electricity
providers for monthly reserves that the ISO determines are necessary to protect the integrity of the grid. We attempt to estimate
such amounts but they are difficult to estimate because they are charged in arrears by the ISOs and are subject to fluctuations
based on weather and other market conditions. Many of the utilities we will serve will also allocate natural gas transportation
and storage assets to us as a part of their competitive choice program. We will be required to fill our allocated storage capacity
with natural gas, which creates commodity supply and price risk. Sometimes we will not be able to hedge the volumes associated
with these assets because they will be too small compared to the much larger bulk transaction volumes required for trades in the
wholesale market or it will not be economically feasible to do so.
The markets in which we will operate are
highly competitive. In markets that are open to competitive choice of retail energy suppliers, our primary competition will come
from the incumbent utility and other independent retail energy companies. In the electricity sector, these competitors will include
larger, well-capitalized energy retailers such as Direct Energy, Inc., FirstEnergy Solutions Inc., Just Energy Group Inc. and NRG
Energy. We also will compete with small local retail energy providers in the electricity sector that are focused exclusively on
certain markets. Each market has a different group of local retail energy providers. With respect to natural gas, our national
competitors will be primarily Direct Energy and Constellation Energy. Our national competitors will generally have diversified
energy platforms with multiple marketing approaches and broad geographic coverage similar to us. Competition in each case will
be based primarily on product offering, price and customer service.
If we complete
our acquisition of BlueCo, we will operate in the highly-regulated natural gas and electricity retail sales industry. We will be
required to comply with the legislation and regulations in these jurisdictions in order to maintain our licensed status and to
continue our operations, and to obtain the necessary licenses in jurisdictions in which we plan to compete. Licensing requirements
vary by state, but generally involve regular, standardized reporting in order to maintain a license in good standing with the state
commission responsible for regulating retail electricity and gas suppliers. There is potential for changes to state legislation
and regulatory measures addressing licensing requirements that may impact our business model in the applicable jurisdiction. In
addition, our marketing activities and customer enrollment procedures are subject to rules and regulations at the state and federal
level, and failure to comply with requirements imposed by federal and state regulatory authorities could impact our licensing in
a particular market.
Consolidated Results of Operations
For the Three
and Six Months Ended November 30, 2015 and 2014
In June 2015, we
disposed of our wholly-owned subsidiary, China Metal Holdings, Inc. The results of China Metal are presented as net income from
discontinued operations in our unaudited consolidated statements of operations for the periods ended November 30, 2015 and 2014.
Refer to Note 4 in the notes to the unaudited consolidated financial statements for a breakdown of major income and expense items
of the discontinued entity.
During three and
six months ended November 30, 2015, our continuing operations had $1,640 in sales. Our continuing operations did not have any sales
for the three and six months ended November 30, 2014.
During three and
six months ended November 30, 2015, our continuing operations had $356 in gross profit. Our continuing operations did not have
any gross profit for the three and six months ended November 30, 2014.
Our operating expenses
for the periods were as follows:
| | |
Three
Months Ended November 30, | | |
Six
Months Ended November 30, | |
| | |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | | |
(Unaudited) | |
| Salaries and compensation | |
$ | 350,000 | | |
$ | - | | |
$ | 410,000 | | |
$ | - | |
| Professional fees | |
| 255,778 | | |
| - | | |
| 497,296 | | |
| - | |
| General and administrative | |
| 17,477 | | |
| - | | |
| 37,300 | | |
| - | |
| Total operating expenses | |
$ | 623,255 | | |
$ | - | | |
$ | 944,596 | | |
$ | - | |
Salaries and compensation
consisted of amounts owed to the chief executive officer and share based compensation. Salary expense incurred to our CEO, who
joined our company in April 2015, was $60,000 and $120,000, respectively, for the three and six months ended November 30, 2015.
During the three months ended November 30, 2015, we issued 100,000 shares to each of our five board of directors members for a
total value of $290,000.
Professional fees
included expenses incurred for consultants, lawyers, accountants and investor relations. Included in this amount is $40,000 and
$60,000 of common shares issued to a consultant during the three and six months ended November 30, 2015, respectively, as mentioned
in Note 7 of the unaudited consolidated financial statements. General and administrative expenses was primarily attributable to
rent expense and travel and entertainment. We expect operating expenses to increase as we continue to increase our operations.
During the three
and six months ended November 30, 2015, we recorded amortization of debt discount of $82,518 and $85,977, respectively, pertaining
to the debt discounts established upon the promissory note agreements as mentioned in Note 6 of the unaudited consolidated financial
statements.
Net loss from continuing operations for
the three and six months ended November 30, 2015 was $706,051 and $1,030,851, respectively. There was no net income for continuing
operations for the three and six months ended November 30, 2014. We anticipate that, depending on market conditions and our current
state of operations, we may incur additional operating losses in the future. Therefore, our auditors have raised substantial doubt
about our ability to continue as a going concern.
Liquidity and Capital Resources
As of November 30, 2015, our cash balance
was $2,030. Our primary sources of cash have been several short-term promissory notes and loans from individual investors. Further,
certain expenses have been paid by Sutton Global, the company controlled by our chief executive officer, on behalf of our company.
This has allowed us to continue operations and pay creditors given our limited liquidity. Our primary use of cash has been payments
for professional fees to consultants, lawyers, accountants, and fees associated with public filings, as well as repayments of amounts
owed to our chief executive officer.
We believe that we have the ability to generate
adequate working capital necessary for ongoing operations and obligations. However, we do not have sufficient working capital to
fund our aggressive growth plans. We will need to raise additional capital to fund our mergers and acquisition activity. We are
actively seeking debt and equity financing. If we are unable to raise additional funds through any means, we will be forced to
postpone our expansion plans and our growth and profitability would be reduced.
Our liquidity may be negatively impacted
by the significant costs associated with our public company reporting requirements, costs associated with newly applicable corporate
governance requirements, including requirements under the Sarbanes-Oxley Act of 2002 and other rules implemented by the Securities
and Exchange Commission. We expect all of these applicable rules and regulations to significantly increase our legal and financial
compliance costs and to make some activities more time consuming and costly.
We have presented
cash flows from operating, investing, and financing activities from discontinued operations on the unaudited consolidated statements
of cash flows for the periods ended November 30, 2015 and 2014.
During the six
months ended November 30, 2015, net cash used in operating activities of $190,970 was primarily attributable to a net loss of $1,030,851.
The net loss was offset by non-cash charges, including amortization of debt discount of $85,977 and share, based compensation of
$350,000. Further, the net loss was offset by an increase in accounts payable and accrued expenses of $255,735 as many professional
fees incurred have not yet been paid to creditors, and an increase in due to shareholder of $101,828, representing amounts still
owed to Sutton Global for expenses paid on behalf of our company.
During the six
months ended November 30, 2015, there was no cash provided by or used in investing activities.
During the six
months ended November 30, 2015, net cash provided by financing activities of $193,000 primarily included short-term promissory
notes of $79,000, $78,000, $11,000 and $25,000 from individual accredited investors.
Critical Accounting Policies and
Estimates
Our significant
accounting policies are fully described in Note 5 to our unaudited consolidated financial statements for the period ended November
30, 2015 contained herein.
Impact of Accounting Pronouncements
In April 2014,
the FASB issued authoritative guidance, which specifies that only disposals, such as a disposal of a major line of business, representing
a strategic shift in operations should be presented as discontinued operations. In addition, the new guidance requires expanded
disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities,
income, and expenses of discontinued operations. We have adopted the guidance as described in Note 5 in the notes to the unaudited
consolidated financial statements.
Off-Balance Sheet Arrangements
We do not have
any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition
or results of operations.
| ITEM 3. |
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. |
Not Applicable.
| ITEM 4. |
CONTROLS AND PROCEDURES |
| (a) | Evaluation of Disclosure Controls and Procedures. |
We carried out an evaluation, under
the supervision and with the participation of our management, including our principal executive officer and principal financial
officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange
Act (defined below)). Based upon that evaluation, our principal executive officer and principal financial officer concluded that,
as of the end of the period covered in this report, our disclosure controls and procedures were not effective to ensure that information
required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended (the "Exchange Act")
is recorded, processed, summarized and reported within the required time periods and is accumulated and communicated to our management,
including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required
disclosure. The evaluation revealed that there are material weaknesses in our disclosure controls,
specifically:
-The
relatively small number of employees who are responsible for accounting functions prevents us from segregating duties within
our internal control system.
Our
management, including our principal executive officer and principal financial officer, does not expect that our disclosure controls
and procedures or our internal controls will prevent all error or fraud. A control system, no matter how well conceived
and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further,
the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be
considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide
absolute assurance that all control issues and instances of fraud, if any, have been detected. Accordingly, management believes
that the financial statements included in this report fairly present in all material respects our financial condition, results
of operations and cash flows for the periods presented.
| (b) |
Changes in Internal Controls. |
There was no change in internal controls
over financial reporting (as defined in Rule 13a-15(f) promulgated under the Securities Exchange Act or 1934) identified in connection
with the evaluation described in the preceding paragraph that occurred during our first fiscal quarter that has materially affected
or is reasonably likely to materially affect our internal control over financial reporting.
PART II. OTHER
INFORMATION
| ITEM 1. |
LEGAL PROCEEDINGS |
None.
There have been no material changes from
the risk factors included in our Annual Report on Form 10-K filed on September 15, 2015.
| ITEM 2. |
UNREGISTERED SALE OF EQUITY SECURIITES |
Sale of Unregistered
Securities. On August 24, 2015, we issued 180,000 common shares, valued at $.25 per share, in conjunction with a promissory
note agreement. The common shares issued pursuant to the note agreement qualified for an exemption pursuant to Section 4(a) (2)
of the Securities Act as the issuance of the securities by our company did not involve a “public offering.”
On August 17, 2015,
we issued 34,483 common shares, valued at $.58 per share, pursuant to a consulting agreement to provide investor relations services.
The common shares issued pursuant to the consulting agreement qualified for an exemption pursuant to Section 4(a) (2) of the Securities
Act as the issuance of the securities by our company did not involve a “public offering.”
On September 3,
2015, we issued 156,000 common shares, valued at $.25 per share, in conjunction with a promissory note agreement. The common shares
issued pursuant to the note agreement qualified for an exemption pursuant to Section 4(a) (2) of the Securities Act as the issuance
of the securities by our company did not involve a “public offering.”
On September 29,
2015, we issued 34,965 common shares, valued at $ .57 per share, pursuant to a consulting agreement to provide investor relations
services. The common shares issued pursuant to the consulting agreement qualified for an exemption pursuant to Section 4(a) (2)
of the Securities Act as the issuance of the securities by our company did not involve a “public offering.”
On October 25,
2015, we issued 35,714 common shares, valued at $ .57 per share, pursuant to a consulting agreement to provide investor relations
services. The common shares issued pursuant to the consulting agreement qualified for an exemption pursuant to Section 4(a) (2)
of the Securities Act as the issuance of the securities by our company did not involve a “public offering.”
On November 23,
2015, we issued 25,000 common shares, valued at $.25 per share, in conjunction with a promissory note agreement. The common shares
issued pursuant to the note agreement qualified for an exemption pursuant to Section 4(a) (2) of the Securities Act as the issuance
of the securities by our company did not involve a “public offering.”
| ITEM 3. |
DEFAULTS UPON SENIOR SECURITIES |
Notes for $79,000 Due on November 23,
2015 and $78,000 due on December 3, 2015 are in default. Management is in discussions with the Note Holders to extend payment dates.
| ITEM 4. |
MINE SAFETY DISCLOSURES |
Not Applicable.
| ITEM 5. |
OTHER INFORMATION |
None.
| ITEM 6. |
EXHIBITS AND FINANCIAL STATEMENT SCHEDULES |
| 31 |
Rule 13a-14(a) Certification – CEO |
| |
|
| 32 |
Rule 13a-14(b) Certification |
| |
|
| 101.INS |
XBRL Instance |
| |
|
| 101.SCH |
XBRL Schema |
| |
|
| 101.CAL |
XBRL Calculation |
| |
|
| 101.DEF |
XBRL Definition |
| |
|
| 101.LAB |
XBRL Label |
| |
|
| 101.PRE |
XBRL Presentation |
SIGNATURES
Pursuant to the
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed
on its behalf by the undersigned, thereunto duly authorized.
| |
TARSIER LTD. |
| |
|
| Date: January 19, 2016 |
By: |
/s/ Isaac H. Sutton |
| |
Chief Executive Officer |
EXHIBIT 31
Rule 13a-14(a) Certification
I, Isaac H. Sutton, certify that:
1. I have reviewed this quarterly report on Form 10-Q of Tarsier
Ltd;
2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officers and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14)
and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and
have:
a) Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the
period in which this report is being prepared;
b) Designed such internal controls over financial reporting,
or caused such internal controls over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;
c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; and
d) Disclosed in this report any change in the registrant’s internal controls over financial reporting that occurred during
the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial
reporting; and
5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal controls
over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors
(or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting
which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial
information; and
b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s
internal controls over financial reporting.
| Date: January 19, 2016 |
/s/Isaac H. Sutton |
| |
Isaac H. Sutton |
| |
Chief Executive Officer |
| |
(Principal Executive Officer and Principal Financial Officer) |
EXHIBIT 32
Rule 13a-14(a) Certification
The undersigned officer certifies that, to the best of my knowledge
and belief, this report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934,
and that the information contained in the report fairly presents, in all material respects, the financial condition and results
of operations of Tarsier Ltd.
A signed original of this written statement required by Section
906 has been provided to Tarsier Ltd. and will be retained by Tarsier Ltd. and furnished to the Securities and Exchange Commission
or its staff upon request.
| Date: January 19, 2016 |
/s/Isaac H.
Sutton |
| |
Isaac H. Sutton |
| |
Chief Executive Officer |
| |
(Principal Executive Officer and Principal Financial Officer) |
v3.3.1.900
| X |
- DefinitionIf the value is true, then the document is an amendment to previously-filed/accepted document.
| Name: |
dei_AmendmentFlag |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
| Name: |
dei_CurrentFiscalYearEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:gMonthDayItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThis is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.
| Name: |
dei_DocumentFiscalPeriodFocus |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:fiscalPeriodItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThis is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
| Name: |
dei_DocumentFiscalYearFocus |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:gYearItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.
| Name: |
dei_DocumentPeriodEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".
| Name: |
dei_DocumentType |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:submissionTypeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12b
-Subsection 1
| Name: |
dei_EntityCentralIndexKey |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:centralIndexKeyItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
| Name: |
dei_EntityCommonStockSharesOutstanding |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionIndicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
| Name: |
dei_EntityFilerCategory |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:filerCategoryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12b
-Subsection 1
| Name: |
dei_EntityRegistrantName |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
| Name: |
dei_TradingSymbol |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
Consolidated Balance Sheets - USD ($)
|
Nov. 30, 2015 |
May. 31, 2015 |
| Current Assets: |
|
|
| Cash |
$ 2,030
|
$ 0
|
| Assets from discontinued operations (Note 4) |
0
|
8,703,090
|
| Total Current Assets |
2,030
|
8,703,090
|
| Assets from discontinued operations (Note 4) |
0
|
4,161,668
|
| Total Assets |
2,030
|
12,864,758
|
| Current Liabilities: |
|
|
| Accounts payable and accrued expenses |
304,486
|
48,750
|
| Due to shareholder |
101,828
|
0
|
| Notes payable, net of debt discounts of $10,059 |
207,941
|
0
|
| Other current liabilities |
21,339
|
0
|
| Liabilities from discontinued operations (Note 4) |
0
|
11,928,595
|
| Total Current Liabilities |
635,594
|
11,977,345
|
| Liabilities from discontinued operations (Note 4) |
0
|
337,590
|
| Total Liabilities |
$ 635,594
|
$ 12,314,935
|
| Stockholders' Equity (Deficit): |
|
|
| Preferred stock, 10,000,000 shares authorized, 0 shares issued and outstanding |
|
|
| Common stock, $0.001 par value, 150,000,000 shares authorized; 45,291,403 and 34,325,241 shares issued and outstanding at November 30, 2015 and May 31, 2015, respectively |
$ 25,291
|
$ 34,325
|
| Additional paid-in capital |
6,722,852
|
6,866,355
|
| Accumulated deficit |
(7,381,707)
|
(6,350,857)
|
| Total Stockholders' Equity (Deficit) |
(633,564)
|
549,823
|
| Total Liabilities and Stockholders' Equity (Deficit) |
$ 2,030
|
$ 12,864,758
|
| X |
- DefinitionSum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionExcess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.30(a)(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5
| Name: |
us-gaap_AdditionalPaidInCapital |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.18)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 12
-Article 7
| Name: |
us-gaap_Assets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.9)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6801-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
| Name: |
us-gaap_AssetsCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_AssetsCurrentAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2473-110228
| Name: |
us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash
-URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.1)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_Cash |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5
| Name: |
us-gaap_CommonStockValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2510-110228
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmounts due to recorded owners or owners with a beneficial interest of more than 10 percent of the voting interests or officers of the company. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k)(1))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(a))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 12
-Subparagraph a(1)
-Article 6
| Name: |
us-gaap_DueToOfficersOrStockholdersCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19-26)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_Liabilities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.32)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 25
-Article 7
| Name: |
us-gaap_LiabilitiesAndStockholdersEquity |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionTotal obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.21)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_LiabilitiesCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_LiabilitiesCurrentAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2473-110228
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
| Name: |
us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2510-110228
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
| Name: |
us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionSum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_NotesPayableCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.20)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6904-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6911-107765
| Name: |
us-gaap_OtherLiabilitiesCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29
-Article 5
| Name: |
us-gaap_PreferredStockValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionThe cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.31(a)(3))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3
| Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionTotal of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E
| Name: |
us-gaap_StockholdersEquity |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- References
+ Details
| Name: |
us-gaap_StockholdersEquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
Consolidated Balance Sheets [Parenthetical] - USD ($)
|
Nov. 30, 2015 |
May. 31, 2015 |
| Debt Instrument, Unamortized Discount |
$ 10,059
|
$ 10,059
|
| Preferred Stock, Shares Authorized |
10,000,000
|
10,000,000
|
| Preferred Stock, Shares Issued |
0
|
0
|
| Preferred Stock, Shares Outstanding |
0
|
0
|
| Common Stock, Par or Stated Value Per Share |
$ 0.001
|
$ 0.001
|
| Common Stock, Shares Authorized |
150,000,000
|
150,000,000
|
| Common Stock, Shares, Issued |
25,291,403
|
34,325,241
|
| Common Stock, Shares, Outstanding |
25,291,403
|
34,325,241
|
| X |
- DefinitionFace amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5
| Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:perShareItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5
| Name: |
us-gaap_CommonStockSharesAuthorized |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5
| Name: |
us-gaap_CommonStockSharesIssued |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5
| Name: |
us-gaap_CommonStockSharesOutstanding |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionThe amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400
| Name: |
us-gaap_DebtInstrumentUnamortizedDiscount |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29
-Article 5
| Name: |
us-gaap_PreferredStockSharesAuthorized |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionTotal number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29
-Article 5
| Name: |
us-gaap_PreferredStockSharesIssued |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionAggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29
-Article 5
| Name: |
us-gaap_PreferredStockSharesOutstanding |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
v3.3.1.900
Consolidated Statements of Operations and Comprehensive Income - USD ($)
|
3 Months Ended |
6 Months Ended |
Nov. 30, 2015 |
Nov. 30, 2014 |
Nov. 30, 2015 |
Nov. 30, 2014 |
| Net sales |
$ 1,640
|
$ 0
|
$ 1,640
|
$ 0
|
| Cost of goods sold |
1,284
|
0
|
1,284
|
0
|
| Gross profit |
356
|
0
|
356
|
0
|
| Operating expenses: |
|
|
|
|
| Salaries and other compensation |
350,000
|
0
|
410,000
|
0
|
| Professional fees |
255,778
|
0
|
497,296
|
0
|
| General and administrative |
17,476
|
0
|
37,300
|
0
|
| Total operating expenses |
623,254
|
0
|
944,596
|
0
|
| Loss from operations |
(622,898)
|
0
|
(944,240)
|
0
|
| Other income (expenses): |
|
|
|
|
| Interest expense |
(633)
|
0
|
(633)
|
0
|
| Amortization of debt discount |
(82,518)
|
0
|
(85,977)
|
0
|
| Loss before income taxes |
(706,049)
|
0
|
(1,030,850)
|
0
|
| Income tax provision |
0
|
0
|
0
|
0
|
| Net loss from continuing operations |
(706,049)
|
0
|
(1,030,850)
|
0
|
| Net income from discontinued operations, net of taxes (Note 4) |
0
|
468,307
|
0
|
341,021
|
| Net (loss) income |
(706,049)
|
468,307
|
(1,030,850)
|
341,021
|
| Foreign currency translation gain |
0
|
2,398
|
0
|
236,810
|
| Net comprehensive (loss) income |
$ (706,049)
|
$ 470,705
|
$ (1,030,850)
|
$ 577,831
|
| Basic and diluted (loss) from continuing operations |
$ (0.03)
|
$ 0
|
$ (0.04)
|
$ 0
|
| Basic and diluted income from discontinued operations |
0
|
0.01
|
0
|
0.01
|
| Basic and diluted (loss) income per share |
$ (0.03)
|
$ 0.01
|
$ (0.04)
|
$ 0.01
|
| Weighted average number of common shares |
24,734,301
|
31,325,241
|
25,030,545
|
31,325,241
|
| X |
- DefinitionAmount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.8)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
| Name: |
us-gaap_AmortizationOfDebtDiscountPremium |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=51831270
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=51831223
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e557-108580
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=51831255
| Name: |
us-gaap_ComprehensiveIncomeNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionTotal costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.2(a))
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
| Name: |
us-gaap_CostOfGoodsSold |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
| Name: |
us-gaap_EarningsPerShareBasicAndDiluted |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.4)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
| Name: |
us-gaap_GeneralAndAdministrativeExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1,2)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
| Name: |
us-gaap_GrossProfit |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.13)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=51664549&loc=SL4613673-111683
| Name: |
us-gaap_IncomeLossFromContinuingOperations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.
| Name: |
us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.12)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.14)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1012-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721525-107759
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721523-107759
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e957-107759
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7
Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 15
-Article 5
| Name: |
us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionPer basic and diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation, when the per share amount is the same.
| Name: |
us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:perShareItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.9)
-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882
| Name: |
us-gaap_InterestExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9
| Name: |
us-gaap_NetIncomeLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionGenerally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
| Name: |
us-gaap_OperatingExpenses |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_OperatingExpensesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe net result for the period of deducting operating expenses from operating revenues.
| Name: |
us-gaap_OperatingIncomeLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (b,c)
-URI http://asc.fasb.org/extlink&oid=6915805&loc=d3e32211-110900
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669646-108580
| Name: |
us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_OtherIncomeAndExpensesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07.2(a),(b),(c),(d))
-URI http://asc.fasb.org/extlink&oid=6488393&loc=d3e606610-122999
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 225
-Section 45
-Paragraph 3
-Subparagraph (k)
-URI http://asc.fasb.org/extlink&oid=6488370&loc=d3e13550-115849
| Name: |
us-gaap_ProfessionalFees |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionExpenditures for salaries for officers and non-officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold.
| Name: |
us-gaap_SalariesWagesAndOfficersCompensation |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionTotal revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
| Name: |
us-gaap_SalesRevenueNet |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAverage number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).
| Name: |
us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
|
6 Months Ended |
Nov. 30, 2015 |
Nov. 30, 2014 |
| Cash flows from operating activities: |
|
|
| Net (loss) income |
$ (1,030,850)
|
$ 341,021
|
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: |
|
|
| Net (income) from discontinued operations |
0
|
(341,021)
|
| Amortization of debt discount |
85,977
|
0
|
| Shares issued to consultants and board of directors |
350,000
|
0
|
| Services received in exchange for issuance of note payable |
25,000
|
|
| Changes in operating assets and liabilities: |
|
|
| Accounts payable and accrued expenses |
255,736
|
0
|
| Other current liabilities |
21,339
|
0
|
| Net cash used in operating activities - continuing operations |
(292,798)
|
0
|
| Net cash provided by operating activities - discontinued operations |
0
|
121,908
|
| Net cash (used in) provided by operating activities |
(292,798)
|
121,908
|
| Cash flows from investing activities: |
|
|
| Net cash used in investing activities - continuing operations |
0
|
0
|
| Discontinued operations cash sold in sale of subsidiary |
(48,161)
|
0
|
| Net cash used in investing activities |
(48,161)
|
0
|
| Cash flows from financing activities: |
|
|
| Proceeds from promissory note agreements |
193,000
|
0
|
| Due to shareholder |
101,828
|
0
|
| Net cash provided by financing activities - continuing operations |
294,828
|
0
|
| Net cash used in financing activities - discontinued operations |
0
|
(361,484)
|
| Net cash provided by (used in) financing activities |
294,828
|
(361,484)
|
| Effect of exchange rate on cash and cash equivalents - discontinued operations |
0
|
7,055
|
| Net (decrease) in cash and cash equivalents |
(46,131)
|
(232,521)
|
| Cash at beginning of period - discontinued operations |
48,161
|
344,636
|
| Less: Cash at end of period - discontinued operations |
0
|
(112,115)
|
| Cash at end of period - continuing operations |
2,030
|
0
|
| Supplemental schedule of non-cash investing and financing activities: |
|
|
| Sale of discontinued entity |
598,573
|
0
|
| Common shares issued with promissory notes and recorded as debt discounts |
96,037
|
0
|
| Supplemental cash flow disclosure: |
|
|
| Income tax paid |
0
|
0
|
| Interest paid |
$ 0
|
$ 6,949
|
| X |
- DefinitionThe value of notes issued as payment for services rendered during the reporting period.
| Name: |
taer_IssuanceOfNotesPayableForServices |
| Namespace Prefix: |
taer_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionValue of stock issued in lieu of cash to consultants.
| Name: |
taer_StockIssuedDuringPeriodValueToConsultants |
| Namespace Prefix: |
taer_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.8)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
| Name: |
us-gaap_AmortizationOfDebtDiscountPremium |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash
-URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3044-108585
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash Equivalents
-URI http://asc.fasb.org/extlink&oid=6507016
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.1)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 230
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49171198&loc=d3e33268-110906
| Name: |
us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) of financing activities of discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
| Name: |
us-gaap_CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) of investing activities of discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) of operating activities of discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount classified as cash and cash equivalents attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash Equivalents
-URI http://asc.fasb.org/extlink&oid=6507016
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash
-URI http://asc.fasb.org/extlink&oid=6506951
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionThe effect of exchange rate changes on cash balances in discontinuing operations held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 230
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49171198&loc=d3e33268-110906
| Name: |
us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsDiscontinuedOperations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.12)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.14)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1012-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721525-107759
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721523-107759
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e957-107759
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7
Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 15
-Article 5
| Name: |
us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
| Name: |
us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe increase (decrease), during an accounting period, in total obligations owed to the reporting entity's executives and owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
| Name: |
us-gaap_IncreaseDecreaseInDueToOfficersAndStockholders |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_IncreaseDecreaseInOperatingCapitalAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe increase (decrease) during the reporting period in other current operating liabilities not separately disclosed in the statement of cash flows.
| Name: |
us-gaap_IncreaseDecreaseInOtherCurrentLiabilities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585
| Name: |
us-gaap_InterestPaid |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585
| Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
| Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585
| Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
| Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585
| Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585
| Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9
| Name: |
us-gaap_NetIncomeLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe value of an asset or business acquired in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586
| Name: |
us-gaap_NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1 |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of noncash consideration received for selling an asset or business through a noncash (or part noncash) transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586
| Name: |
us-gaap_NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1 |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionThe cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3255-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Financing Activities
-URI http://asc.fasb.org/extlink&oid=6513228
| Name: |
us-gaap_ProceedsFromNotesPayable |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
v3.3.1.900
ORGANIZATION
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
NOTE 1 – ORGANIZATION Tarsier Ltd. (the “Company”) was incorporated in Delaware on November 19, 2010 originally under the name China International Enterprise Corp. In 2011, the Company changed its name to HXT Holdings, Inc. On September 2, 2011, the Company acquired all of the outstanding capital stock of China Metal Holding, Inc. (“China Metal”), a privately-owned corporation formed in the State of Delaware. China Metal is a holding company whose only asset, held through a subsidiary, is 100% of the registered capital of Changzhou Huayue Electronics Company, Limited (“Changzhou Huayue”), a limited liability company organized under the laws of the People’s Republic of China (“China” or “PRC”). Changzhou Huayue is engaged in developing, manufacturing and selling high frequency induction lights and electrolytic capacitors. Changzhou Huayue’s offices and manufacturing facilities are located in China. Effective November 2, 2011, the Company changed its name to Huayue Electronics, Inc. (“HUAY”). On April 23, 2015, the Company entered into a Partnership Interest Purchase Agreement to purchase 51% of the limited liability partnership interests in SavWatt Kazakhstan Ltd. (“SavWatt”), a limited liability partnership formed under the laws of Kazakhstan. SavWatt Kazakhstan was formed by Sutton Global Associates, Inc. (see Note 8) on April 8, 2015 to engage in the business of manufacturing and distributing energy efficient products in Kazakhstan and other Eastern European countries. No funding has been provided by either party and therefore there is no non-controlling interest as of November 30, 2015. In May 2015, the Company approved plans to dispose of China Metal, including its subsidiary Changzhou Huayue. China Metal was sold on June 12, 2015. Refer to Note 4 for further discussion. On September 8, 2015, the Company formed Tarsier Systems Ltd., a New York corporation. Tarsier Systems is a 100% subsidiary. On December 4, 2015, the Company change its name to Tarsier Ltd.
|
| X |
- References
+ Details
| Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35735333&loc=d3e288-107754
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 272
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755
| Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
BASIS OF PRESENTATION
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Accounting Policies [Abstract] |
|
| Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] |
NOTE 2 – BASIS OF PRESENTATION These unaudited consolidated financial statements as of and for the three (3) and six (6) months ended November 30, 2015 and 2014, respectively, reflect all adjustments including normal recurring adjustments, which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows for the periods presented in accordance with the accounting principles generally accepted in the United States of America. These interim unaudited consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto for the years ended May 31, 2015 and 2014, respectively, which are included in the Company’s May 31, 2015 Annual Report on Form 10-K filed with the United States Securities and Exchange Commission on September 15, 2015 and Form 10-K/A filed on October 13, 2015. The Company assumes that the users of the interim financial information herein have read, or have access to, the audited consolidated financial statements for the preceding period, and that the adequacy of additional disclosure needed for a fair presentation may be determined in that context. The results of operations for the three (3) and six (6) months ended November 30, 2015 are not necessarily indicative of results to be expected for the entire year ending May 31, 2016.
|
| X |
- References
+ Details
| Name: |
us-gaap_AccountingPoliciesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles.
| Name: |
us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
GOING CONCERN
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Substantial Doubt about Going Concern [Text Block] |
NOTE 3 – GOING CONCERN The accompanying unaudited consolidated financial statements have been prepared on a going concern basis. The Company had negative working capital of $633,564 at November 30, 2015 and incurred a net loss of $1,030,850 for the six months ended November 30, 2015. The Company also has certain promissory notes which are past due. These matters, among others, raise substantial doubt about the ability of the Company to continue as a going concern. These unaudited consolidated financial statements do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. The Company's ability to continue as a going concern is dependent upon its ability to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due, and to fund acquisitions in order to generate profitable operations in the future. The Company hopes that future funds received will enable it to execute its business plan and generate positive operating results. However, the outcome of these matters cannot be predicted at this time and there are no assurances that the Company will be successful in accomplishing its plans.
|
| X |
- References
+ Details
| Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 40
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=51888302&loc=SL51888449-203568
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 40
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51888302&loc=SL51888443-203568
| Name: |
us-gaap_SubstantialDoubtAboutGoingConcernTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
DISCONTINUED OPERATIONS
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Discontinued Operations and Disposal Groups [Abstract] |
|
| Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] |
NOTE 4 - DISCONTINUED OPERATIONS In May 2015, the Company approved plans to dispose of its subsidiary China Metal, including China Metal’s wholly-owned subsidiary, Changzhou Huayue. Management elected to dispose of the entities because the Company intends to focus its operations outside of China and rather in the U.S. and other foreign markets. On June 2, 2015, the Company entered into a Stock Purchase Agreement to sell 100% of the issued and outstanding shares of common stock of China Metal. The Company completed the sale on June 12, 2015. In accordance with ASC 205-20, China Metal, and its wholly-owned subsidiary Changzhou Huayue, have been presented as a discontinued business in the consolidated financial statements as of May 31, 2015. Previously reported results for the unaudited comparable periods ended November 30, 2014 have been restated to reflect this reclassification. The operational results of China Metal are presented in the “Net income from discontinued operations, net of taxes” line item on the unaudited consolidated statement of operations for the periods ended November 30, 2014. The assets and liabilities of the discontinued business are presented on the consolidated balance sheet as of May 31, 2015 as assets and liabilities from discontinued operations. On June 12, 2015, the Company completed its sale of China Metal. The Company repurchased 10,000,000 shares of its outstanding common stock from the seller and delivered to the seller 100% of the capital stock of China Metal, which was valued at $598,573 at the time of the sale. The shares were retired and the cost was recorded against additional paid-in capital. As the seller was a related party (see Note 8), the transaction was recorded at cost and no gain or loss was recorded on the sale. There was no activity in the discontinued entity from June 1, 2015 through the date of the sale. The major components of net income from discontinued operations were as follows: | | | Three Months Ended November 30, | | Six Months Ended November 30, | | | | | 2015 | | 2014 | | 2015 | | 2014 | | | | | (Unaudited) | | (Unaudited) | | (Unaudited) | | (Unaudited) | | | Net sales | | $ | - | | $ | 2,763,880 | | $ | - | | $ | 6,283,572 | | | Cost of goods sold | | | - | | | 1,380,696 | | | - | | | 3,323,160 | | | Gross profit | | | - | | | 1,383,184 | | | - | | | 2,960,412 | | | General and administrative expenses | | | - | | | 839,642 | | | - | | | 2,550,717 | | | Income tax provision (benefit) | | | - | | | 88,296 | | | - | | | 22,462 | | | Net income | | $ | - | | $ | 468,307 | | $ | - | | $ | 341,021 | | | Comprehensive income | | $ | - | | $ | 470,705 | | $ | - | | $ | 577,831 | | The major classes of assets and liabilities from discontinued operations were as follows: | | | November 30,
2015 | | May 31,
2015 | | | | | (Unaudited) | | | | | | Cash | | $ | - | | $ | 48,161 | | | Accounts and other receivables | | | - | | | 2,776,773 | | | Advances to suppliers | | | - | | | 1,866,075 | | | Investment in sales-type lease | | | - | | | 2,384,088 | | | Total current assets | | | - | | | 8,703,090 | | | Property and equipment | | | - | | | 1,045,827 | | | Long-term receivables | | | - | | | 2,950,151 | | | Total assets | | $ | - | | $ | 12,864,758 | | | | | | | | | | | | Short-term loans | | | - | | | 2,984,834 | | | Accounts payable | | | - | | | 2,630,700 | | | Taxes payable | | | - | | | 2,685,297 | | | Due to related parties | | | - | | | 2,136,921 | | | Total current liabilities | | | - | | | 11,928,595 | | | Total liabilities | | $ | - | | $ | 12,266,185 | |
|
| X |
- References
+ Details
| Name: |
us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760
Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760
Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760
Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760
Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760
| Name: |
us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Accounting Policies [Abstract] |
|
| Significant Accounting Policies [Text Block] |
NOTE 5 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of consolidation The unaudited consolidated financial statements include the financial statements of the Company and its subsidiaries. All inter-company transactions and balances are eliminated in consolidation. Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant accounting estimates reflected in the Company’s consolidated financial statements includes promissory note debt discounts. Actual results could differ from those estimated by management. Non-controlling interests Non-controlling interests in our subsidiaries are recorded in accordance with the provisions of ASC 810 “Consolidation”, and are reported as a component of equity, separate from the parent company’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the non-controlling interests are included in the Company’s consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings. Cash and cash equivalents For purposes of the statement of cash flows, the Company considers all highly-liquid investments with an original maturity of three months or less to be cash equivalents. Revenue recognition The Company’s revenue is derived from the sale of products. The Company’s revenue recognition policies are in compliance with Staff Accounting Bulletin 104, included in the Accounting Standards Codification (“ASC”) as ASC 605, Revenue Recognition. The Company’s determination to recognize revenue is based on the following: | | ⋅ | Persuasive evidence that an arrangement (sales contract) exists between a willing customer and us that outlines the terms of the sale (including customer information, product specification, quantity of goods, purchase price and payment terms). | | | ⋅ | Delivery is considered to have occurred when the risks, rewards and ownership of the products are transferred from the Company to its customers. | | | ⋅ | The Company’s price to the customer is fixed and determinable as specifically outlined in the sales contract. | | | ⋅ | For customers to whom credit terms are extended, the Company assesses a number of factors to determine whether collection from them is probable, including past transaction history with them and their credit-worthiness. All credit extended to customers is pre-approved by management. If the Company determines that collection is not reasonably assured, the Company defers the recognition of revenue until collection becomes reasonably assured, which is generally upon receipt of payment. | Payments received before satisfaction of all of the relevant criteria for revenue recognition are recorded as advance from customers. Income taxes The Company accounts for income tax under the asset and liability method as stipulated by ASC 740, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of the events that have been included in the financial statements or tax returns. Deferred income taxes will be recognized if significant temporary differences between tax and financial statements occur. Valuation allowances are established against net deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. Included in the deferred tax asset is the net operating loss carryforwards. The Company is not able to predict if such future taxable income will be more likely than not sufficient to utilize the benefit. As such, the Company does not believe the benefit is more likely than not to be realized and they have recognized a full valuation allowance for these deferred tax assets as of November 30, 2015 and 2014. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the six months ended November 30, 2015 and 2014. Fair value of financial instruments The Financial Accounting Standards Board’s ASC Topic 820, “Fair Value Measurements”, defines fair value, establishes a three-level valuation hierarchy for fair value measurements and enhances disclosure requirements. The three levels are defined as follows: Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - inputs to the valuation methodology are unobservable. The Company’s accounts payable and accrued expenses due to shareholder and notes payables approximate fair values due to their short-term maturities. Stock-based compensation The Company accounts for stock-based instruments issued to employees in accordance with ASC Topic 718. ASC Topic 718 requires companies to recognize in the statement of operations the grant-date fair value of stock options and other equity based compensation issued to employees. The Company accounts for nonemployee share-based awards in accordance with ASC Topic 505-50. Earnings (loss) per common share The Company utilizes the guidance per FASB Codification ASC 260 Earnings per Share (“ASC 260”). Basic earnings per share are calculated by dividing income available to stockholders by the weighted average number of common stock shares outstanding during each period. Diluted earnings per share are computed using the weighted average number of common stock shares and dilutive common share equivalents outstanding during the period. Dilutive common stock share equivalents consist of common shares issuable upon the conversion of convertible notes and the exercise of stock options and warrants (calculated using the modified treasury stock method). There were no such securities for the three and six month periods ended November 30, 2015 and 2014. Foreign currency translation The functional currency of the U.S. parent company is U.S. Dollars, or USD. The functional currency of the discontinued subsidiary at May 31, 2015 is Renminbi or RMB, and its reporting currency is U.S dollars for the purpose of these financial statements. The accounts of the Chinese subsidiary were translated into USD in accordance with ASC Topic 830 “Foreign Currency Matters,” According to Topic 830, all assets and liabilities were translated at the exchange rate on the balance sheet date; stockholders’ equity is translated at historical rates and statement of income items are translated at the weighted average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with ASC Topic 220, “Comprehensive Income.” Gains and losses resulting from the translations of foreign currency transactions and balances are reflected in the unaudited statement of operations and comprehensive income for the three and six months ended November 30, 2014. Reclassification Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassification had no impact on previously reported results of operations or stockholders’ equity. Certain items of the discontinued entity, such as statutory reserves and accumulated other comprehensive income, were reclassified to retained earnings in the consolidated balance sheet as of May 31, 2015.
|
| X |
- References
+ Details
| Name: |
us-gaap_AccountingPoliciesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18861-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18726-107790
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18743-107790
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18854-107790
| Name: |
us-gaap_SignificantAccountingPoliciesTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
NOTE PAYABLE
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Debt Disclosure [Abstract] |
|
| Debt Disclosure [Text Block] |
NOTE 6 – NOTE PAYABLE On August 24, 2015, the Company entered into an unsecured, short-term promissory note with an accredited investor for $79,000. The note earns interest at 2% per annum and matured on November 23, 2015. In conjunction with the note, the Company issued 180,000 common shares to the investor. The shares resulted in a debt discount of $44,790 based on the relative fair value of the shares issued, of which $3,459 and $41,511 was amortized during the three and six months ended November 30, 2015. The debt discount was fully amortized and the principal was still outstanding and past due at November 30, 2015. Accrued interest is included in accounts payable and accrued expenses on the unaudited consolidated balance sheet. On August 25, 2015, the Company borrowed an additional $11,000 from the same investor. The loan is non-interest bearing, unsecured and due on demand. On September 3, 2015, the Company entered into an unsecured, short-term promissory note with an accredited investor for $78,000. The note matured on December 3, 2015. In conjunction with the note, the Company issued 156,000 common shares to the investor. The shares resulted in a debt discount of $41,889 based on the relative fair value of the shares issued, of which $40,508 was amortized during the three and six months ended November 30, 2015. As of November 30, 2015, the note payable, net of unamortized debt discount, was $76,619. The note is still outstanding and past due as of the filing date of this report. On November 23, 2015, the Company entered into an unsecured, short-term promissory note with an existing accredited investor for $25,000. The note matures on January 24, 2016. In conjunction with the note, the Company issued 25,000 common shares to the investor. The shares resulted in a debt discount of $9,177 based on the relative fair value of the shares issued, of which $499 was amortized during the three and six months ended November 30, 2015. As of November 30, 2015, the note payable, net of unamortized debt discount, was $16,322. During the three months ended November 30, 2015, the Company received consulting services from a firm. In exchange for these services, on September 30, 2015 the Company issued an unsecured note payable in the principal amount of $25,000. The note bears interest at 5% and matures on September 30, 2016.
|
| X |
- References
+ Details
| Name: |
us-gaap_DebtDisclosureAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20,22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_DebtDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
STOCKHOLDERS' EQUITY
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Equity [Abstract] |
|
| Stockholders' Equity Note Disclosure [Text Block] |
NOTE 7 - STOCKHOLDERS’ EQUITY Pursuant to the Partnership Interest Purchase Agreement dated April 23, 2015, the Company issued 3,000,000 common shares to a related party. Refer to Note 8 for further discussion. On June 12, 2015, the Company repurchased 10,000,000 shares of the Company’s outstanding common stock pursuant to the sale of China Metal. Refer to Note 8 for further discussion. In August 2015, the Company agreed to issue options to purchase 2,000,000 shares of common stock per consulting agreements. These options, as well as the options per Isaac H. Sutton’s employment agreement, are subject to Board approval at the time of this report. During the six months ended November 30, 2015, the Company issued 105,162 common shares pursuant to consulting agreements for a total value of $60,000. The fair value of the stock was determined using the closing trading prices on the issuance dates. The amounts are included in professional fees in the unaudited consolidated statements of operations and comprehensive income. On November 30, 2015, the Company issued 500,000 common shares to the members of the Board of Directors as compensation for being board members for a total value of $290,000, or $0.58 per share. The fair value of the stock was determined using the closing trading price on the issuance date. The amounts are included in salaries and compensation in the unaudited consolidated statements of operations and comprehensive income. As mentioned in Note 6 above, the Company issued 361,000 common shares during the six months ended November 30, 2015 in conjunction with promissory note agreements. As of November 30, 2015 and May 31, 2015, the Company had 25,291,403 and 34,325,241 common shares issued and outstanding, respectively.
|
| X |
- References
+ Details
| Name: |
us-gaap_EquityAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656
Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644
Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494
Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644
Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E
Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C
| Name: |
us-gaap_StockholdersEquityNoteDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
RELATED PARTY TRANSACTIONS
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Related Party Transactions [Abstract] |
|
| Related Party Transactions Disclosure [Text Block] |
NOTE 8 – RELATED PARTY TRANSACTIONS An individual or entity is considered to be a related party if the person or the entity has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. An individual or entity is also considered to be related if the person or the entity is subject to common control or common significant influence. On June 12, 2015, the Company sold 100% of its subsidiary China Metal to Mr. Shudong Pan, an officer and director of China Metal and Changzhou Huayue. As part of the sale, the Company repurchased 10,000,000 of the outstanding common shares held by Mr. Pan. The repurchase of common shares was recorded at cost of $598,573 as additional paid-in capital, which represented the value of China Metal’s net assets at the time of the sale. During the period ended November 30, 2015, Sutton Global Associates Inc. (“Sutton Global”), a company controlled by the chief executive officer, paid certain expenses on behalf of the Company. The balance owed to Sutton Global is included as due to shareholder on the unaudited consolidated balance sheet.
|
| X |
- DefinitionThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph b
-Article 3A
| Name: |
us-gaap_RelatedPartyTransactionsDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
COMMITMENTS AND CONTINGENCIES
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Commitments and Contingencies Disclosure [Abstract] |
|
| Commitments and Contingencies Disclosure [Text Block] |
NOTE 9 – COMMITMENTS AND CONTINGENCIES On April 27, 2015, the Company entered into an employment agreement with Isaac H. Sutton to serve as Chief Executive Officer of the Company. The agreement provides for an initial term of three years and will terminate on April 27, 2018. The employment agreement will be extended automatically for successive one-year periods thereafter unless the Company or Mr. Sutton gives written notice to the other to allow the employment agreement to expire. Mr. Sutton will be paid an initial annual base salary of $120,000. At November 30, 2015, accrued salary owed to Mr. Sutton is included in due to shareholder per the unaudited consolidated balance sheet. On September 10 , 2015, the Company entered into a purchase agreement to acquire 100% of the limited liability membership interests of BlueCo Energy LLC, a New York limited liability company (“BlueCo”), in consideration for the issuance of 20,000,0000 common shares. Upon closing, the Company will issue the common shares to GoCOM Corporation, a Nevada corporation (“GoCOM”), which is controlled by Isaac H. Sutton. There can be no assurance that the Company will complete the proposed acquisition of BlueCo. In addition, Mr. Sutton will be eligible to receive each year an incentive bonus in an amount up to 100% of his base salary and a revenue bonus in an amount equal to 0.75% of the amount by which the Company’s net revenues in such year exceed $25 million. Subject to the approval of the Board, the Company will also grant to Mr. Sutton a stock option to purchase 3,000,000 shares of the Company’s common stock at a price per share not less than the per-share fair market value of the common stock on the date of grant. The option will vest with respect to one-third of the shares on the first anniversary of the date of grant and as to the remaining two-thirds of the shares in 24 equal monthly installments thereafter. The employment agreement also provides that Mr. Sutton will be entitled to participate in any short-term and long- term incentive plans generally available to executive officers of the Company, to participate with other executive officers in any of the Company’s employee fringe benefit plans, and to be reimbursed for certain business-related expenses. In addition, the employment agreement provides for certain benefits upon termination of Mr. Sutton’s employment under certain circumstances, including a change of control of the Company, as defined in the employment agreement, and to certain death benefits.
|
| X |
- References
+ Details
| Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308
| Name: |
us-gaap_CommitmentsAndContingenciesDisclosureTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
RECENT ACCOUNTING PRONOUNCEMENTS
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| New Accounting Pronouncements and Changes in Accounting Principles [Abstract] |
|
| New Accounting Pronouncements and Changes in Accounting Principles [Text Block] |
NOTE 10 – RECENT ACCOUNTING PRONOUNCEMENTS In April 2014, the FASB issued authoritative guidance, which specifies that only disposals, such as a disposal of a major line of business, representing a strategic shift in operations should be presented as discontinued operations. In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The Company has adopted the guidance as described in Note 3.
|
| X |
- References
+ Details
| Name: |
us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22583-107794
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22580-107794
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22499-107794
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989
Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305
Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305
| Name: |
us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
SUBSEQUENT EVENTS
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Subsequent Events [Abstract] |
|
| Subsequent Events [Text Block] |
NOTE 11 - SUBSEQUENT EVENTS On December 1, 2015, the Company consummated an asset purchase agreement with DemanSYS Energy Inc. (“DemanSYS”), a Delaware corporation, for all rights under selected contracts, and certain intellectual property rights. In consideration for the purchased assets, the Company issued a convertible promissory note for $450,000 due in various installments from January to June 2016. The note is convertible upon default, at the option of the holder, into shares of common stock at a 30% discount to the 10 day average closing price. The note is also convertible at the option of the lender, in the event of default, into shares of common stock at a 30% discount to the 10 day average closing price. The Company also issued 2,500,000 common shares to DemanSYS to be held in escrow, subject to revenue targets to be met in regards to the software platform acquired. The Company is still determining the purchase price allocation. On December 4, 2015, the Company filed an amendment with the State of Delaware to increase the authorized common stock from 60,000,000 to 150,000,000 shares. The Board also approved the increase of authorized preferred stock from 1,000,000 to 10,000,000 shares. In December 2015, the Company agreed to issue options to purchase 10,800,000 shares of common stock per four employment agreements. These options are subject to Board approval at the time of this report. In August 2015, the Company agreed to issue options to purchase 2,000,000 shares of common stock per consulting agreements. These options, as well as the options per Isaac H. Sutton’s employment agreement, are subject to Board approval at the time of this report. On January 4, 2016, the Company issued 1,000,000 common shares pursuant to a Joint Venture Agreement. The shares are to be held in escrow pending the successful performance of the Joint Venture partner. On January 4, 2016, the Company issued 30,000 common shares pursuant to consulting agreements, and 100,000 common shares pursuant to an employment agreement. The fair value of the stock was determined using the closing trading price on the issuance date. The amounts are included in professional fees and salaries and compensation, respectively, in the unaudited consolidated statements of operations and comprehensive income.
|
| X |
- References
+ Details
| Name: |
us-gaap_SubsequentEventsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
| Name: |
us-gaap_SubsequentEventsTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Accounting Policies [Abstract] |
|
| Consolidation, Policy [Policy Text Block] |
Principles of consolidation The unaudited consolidated financial statements include the financial statements of the Company and its subsidiaries. All inter-company transactions and balances are eliminated in consolidation.
|
| Use of Estimates, Policy [Policy Text Block] |
Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant accounting estimates reflected in the Company’s consolidated financial statements includes promissory note debt discounts. Actual results could differ from those estimated by management.
|
| Noncontroling Interests [Policy Text Block] |
Non-controlling interests Non-controlling interests in our subsidiaries are recorded in accordance with the provisions of ASC 810 “Consolidation”, and are reported as a component of equity, separate from the parent company’s equity. Purchase or sale of equity interests that do not result in a change of control are accounted for as equity transactions. Results of operations attributable to the non-controlling interests are included in the Company’s consolidated results of operations and, upon loss of control, the interest sold, as well as interest retained, if any, will be reported at fair value with any gain or loss recognized in earnings.
|
| Cash and Cash Equivalents, Policy [Policy Text Block] |
Cash and cash equivalents For purposes of the statement of cash flows, the Company considers all highly-liquid investments with an original maturity of three months or less to be cash equivalents.
|
| Revenue Recognition, Policy [Policy Text Block] |
Revenue recognition The Company’s revenue is derived from the sale of products. The Company’s revenue recognition policies are in compliance with Staff Accounting Bulletin 104, included in the Accounting Standards Codification (“ASC”) as ASC 605, Revenue Recognition. The Company’s determination to recognize revenue is based on the following: | | ⋅ | Persuasive evidence that an arrangement (sales contract) exists between a willing customer and us that outlines the terms of the sale (including customer information, product specification, quantity of goods, purchase price and payment terms). | | | ⋅ | Delivery is considered to have occurred when the risks, rewards and ownership of the products are transferred from the Company to its customers. | | | ⋅ | The Company’s price to the customer is fixed and determinable as specifically outlined in the sales contract. | | | ⋅ | For customers to whom credit terms are extended, the Company assesses a number of factors to determine whether collection from them is probable, including past transaction history with them and their credit-worthiness. All credit extended to customers is pre-approved by management. If the Company determines that collection is not reasonably assured, the Company defers the recognition of revenue until collection becomes reasonably assured, which is generally upon receipt of payment. | Payments received before satisfaction of all of the relevant criteria for revenue recognition are recorded as advance from customers.
|
| Income Tax, Policy [Policy Text Block] |
Income taxes The Company accounts for income tax under the asset and liability method as stipulated by ASC 740, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of the events that have been included in the financial statements or tax returns. Deferred income taxes will be recognized if significant temporary differences between tax and financial statements occur. Valuation allowances are established against net deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. Included in the deferred tax asset is the net operating loss carryforwards. The Company is not able to predict if such future taxable income will be more likely than not sufficient to utilize the benefit. As such, the Company does not believe the benefit is more likely than not to be realized and they have recognized a full valuation allowance for these deferred tax assets as of November 30, 2015 and 2014. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the six months ended November 30, 2015 and 2014.
|
| Fair Value of Financial Instruments, Policy [Policy Text Block] |
Fair value of financial instruments The Financial Accounting Standards Board’s ASC Topic 820, “Fair Value Measurements”, defines fair value, establishes a three-level valuation hierarchy for fair value measurements and enhances disclosure requirements. The three levels are defined as follows: Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - inputs to the valuation methodology are unobservable. The Company’s accounts payable and accrued expenses due to shareholder and notes payables approximate fair values due to their short-term maturities.
|
| Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] |
Stock-based compensation The Company accounts for stock-based instruments issued to employees in accordance with ASC Topic 718. ASC Topic 718 requires companies to recognize in the statement of operations the grant-date fair value of stock options and other equity based compensation issued to employees. The Company accounts for nonemployee share-based awards in accordance with ASC Topic 505-50.
|
| Earnings Per Share, Policy [Policy Text Block] |
Earnings (loss) per common share The Company utilizes the guidance per FASB Codification ASC 260 Earnings per Share (“ASC 260”). Basic earnings per share are calculated by dividing income available to stockholders by the weighted average number of common stock shares outstanding during each period. Diluted earnings per share are computed using the weighted average number of common stock shares and dilutive common share equivalents outstanding during the period. Dilutive common stock share equivalents consist of common shares issuable upon the conversion of convertible notes and the exercise of stock options and warrants (calculated using the modified treasury stock method). There were no such securities for the three and six month periods ended November 30, 2015 and 2014.
|
| Foreign Currency Transactions and Translations Policy [Policy Text Block] |
Foreign currency translation The functional currency of the U.S. parent company is U.S. Dollars, or USD. The functional currency of the discontinued subsidiary at May 31, 2015 is Renminbi or RMB, and its reporting currency is U.S dollars for the purpose of these financial statements. The accounts of the Chinese subsidiary were translated into USD in accordance with ASC Topic 830 “Foreign Currency Matters,” According to Topic 830, all assets and liabilities were translated at the exchange rate on the balance sheet date; stockholders’ equity is translated at historical rates and statement of income items are translated at the weighted average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with ASC Topic 220, “Comprehensive Income.” Gains and losses resulting from the translations of foreign currency transactions and balances are reflected in the unaudited statement of operations and comprehensive income for the three and six months ended November 30, 2014.
|
| Reclassification, Policy [Policy Text Block] |
Reclassification Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassification had no impact on previously reported results of operations or stockholders’ equity. Certain items of the discontinued entity, such as statutory reserves and accumulated other comprehensive income, were reclassified to retained earnings in the consolidated balance sheet as of May 31, 2015.
|
| X |
- DefinitionDisclosure of accounting policy noncontroling interest
| Name: |
taer_NoncontrolingInterestsPolicyTextBlock |
| Namespace Prefix: |
taer_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- References
+ Details
| Name: |
us-gaap_AccountingPoliciesAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 305
-SubTopic 10
-Section 05
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6375392&loc=d3e26790-107797
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4273-108586
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash
-URI http://asc.fasb.org/extlink&oid=6506951
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash Equivalents
-URI http://asc.fasb.org/extlink&oid=6507016
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Financial Reporting Release (FRR)
-Number 203
-Paragraph 02-03
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 1
-Article 5
| Name: |
us-gaap_CashAndCashEquivalentsPolicyTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.3A-02)
-URI http://asc.fasb.org/extlink&oid=27015204&loc=d3e355033-122828
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph k
-Article 1
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02, 03
-Article 3A
| Name: |
us-gaap_ConsolidationPolicyTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
| Name: |
us-gaap_EarningsPerSharePolicyTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13279-108611
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 60
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7493716&loc=d3e21868-110260
| Name: |
us-gaap_FairValueOfFinancialInstrumentsPolicy |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450222&loc=d3e30840-110895
| Name: |
us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32840-109319
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 05
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6423966&loc=d3e40913-109327
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 954
-SubTopic 740
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6491622&loc=d3e9504-115650
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32809-109319
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e32247-109318
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e32280-109318
| Name: |
us-gaap_IncomeTaxPolicyTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for reclassifications that affects the comparability of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755
| Name: |
us-gaap_PriorPeriodReclassificationAdjustmentDescription |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18823-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18726-107790
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 605
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 13.B.Q1)
-URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 13
-Section B
-Paragraph Question 1
| Name: |
us-gaap_RevenueRecognitionPolicyTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b),(f)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
| Name: |
us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDisclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6061-108592
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6143-108592
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6132-108592
| Name: |
us-gaap_UseOfEstimates |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
DISCONTINUED OPERATIONS (Tables)
|
6 Months Ended |
Nov. 30, 2015 |
|---|
| Discontinued Operations and Disposal Groups [Abstract] |
|
| Disposal Groups, Including Discontinued Operations [Table Text Block] |
The major components of net income from discontinued operations were as follows: | | | Three Months Ended November 30, | | Six Months Ended November 30, | | | | | 2015 | | 2014 | | 2015 | | 2014 | | | | | (Unaudited) | | (Unaudited) | | (Unaudited) | | (Unaudited) | | | Net sales | | $ | - | | $ | 2,763,880 | | $ | - | | $ | 6,283,572 | | | Cost of goods sold | | | - | | | 1,380,696 | | | - | | | 3,323,160 | | | Gross profit | | | - | | | 1,383,184 | | | - | | | 2,960,412 | | | General and administrative expenses | | | - | | | 839,642 | | | - | | | 2,550,717 | | | Income tax provision (benefit) | | | - | | | 88,296 | | | - | | | 22,462 | | | Net income | | $ | - | | $ | 468,307 | | $ | - | | $ | 341,021 | | | Comprehensive income | | $ | - | | $ | 470,705 | | $ | - | | $ | 577,831 | | The major classes of assets and liabilities from discontinued operations were as follows: | | | November 30,
2015 | | May 31,
2015 | | | | | (Unaudited) | | | | | | Cash | | $ | - | | $ | 48,161 | | | Accounts and other receivables | | | - | | | 2,776,773 | | | Advances to suppliers | | | - | | | 1,866,075 | | | Investment in sales-type lease | | | - | | | 2,384,088 | | | Total current assets | | | - | | | 8,703,090 | | | Property and equipment | | | - | | | 1,045,827 | | | Long-term receivables | | | - | | | 2,950,151 | | | Total assets | | $ | - | | $ | 12,864,758 | | | | | | | | | | | | Short-term loans | | | - | | | 2,984,834 | | | Accounts payable | | | - | | | 2,630,700 | | | Taxes payable | | | - | | | 2,685,297 | | | Due to related parties | | | - | | | 2,136,921 | | | Total current liabilities | | | - | | | 11,928,595 | | | Total liabilities | | $ | - | | $ | 12,266,185 | |
|
| X |
- References
+ Details
| Name: |
us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760
Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760
Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760
| Name: |
us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
nonnum:textBlockItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
| X |
- DefinitionDate when an entity was incorporated
| Name: |
dei_EntityIncorporationDateOfIncorporation |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionState or Country Name where an entity is incorporated
| Name: |
dei_EntityIncorporationStateCountryName |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe number of units or percentage investment held in the subsidiary by the limited liability company or limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611443-123010
| Name: |
us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:percentItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
dei_LegalEntityAxis=taer_ChangzhouHuayueMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
dei_LegalEntityAxis=taer_SavWattMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
dei_LegalEntityAxis=taer_TarsierSystemsLtdMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.3.1.900
GOING CONCERN (Details Textual) - USD ($)
|
3 Months Ended |
6 Months Ended |
Nov. 30, 2015 |
Nov. 30, 2014 |
Nov. 30, 2015 |
Nov. 30, 2014 |
| Working Capital Deficit |
$ 633,564
|
|
$ 633,564
|
|
| Net Income (Loss) Attributable to Parent, Total |
$ (706,049)
|
$ 468,307
|
$ (1,030,850)
|
$ 341,021
|
| X |
- DefinitionWorking capital is a financial metric which represents operating liquidity available to a business, organization or other entity, including governmental entity.
| Name: |
taer_WorkingCapitalDeficit |
| Namespace Prefix: |
taer_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9
| Name: |
us-gaap_NetIncomeLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
v3.3.1.900
DISCONTINUED OPERATIONS (Details) - USD ($)
|
3 Months Ended |
6 Months Ended |
Nov. 30, 2015 |
Nov. 30, 2014 |
Nov. 30, 2015 |
Nov. 30, 2014 |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
|
|
|
|
| Net sales |
$ 0
|
$ 2,763,880
|
$ 0
|
$ 6,283,572
|
| Cost of goods sold |
0
|
1,380,696
|
0
|
3,323,160
|
| Gross profit |
0
|
1,383,184
|
0
|
2,960,412
|
| General and administrative expenses |
0
|
839,642
|
0
|
2,550,717
|
| Income tax provision (benefit) |
0
|
88,296
|
0
|
22,462
|
| Net income |
0
|
468,307
|
0
|
341,021
|
| Comprehensive income |
$ (706,049)
|
$ 470,705
|
$ (1,030,850)
|
$ 577,831
|
| X |
- DefinitionAmount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=51831270
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=51831223
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e557-108580
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=51831255
| Name: |
us-gaap_ComprehensiveIncomeNetOfTax |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721525-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721523-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=18498875&loc=d3e38679-109324
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1012-107759
| Name: |
us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of costs of goods sold attributable to disposal group, including, but not limited to, discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of general and administrative expense attributable to disposal group, including, but not limited to, discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of gross profit attributable to disposal group, including, but not limited to, discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of revenue attributable to disposal group, including, but not limited to, discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationRevenue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3B
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721525-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721523-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e957-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1012-107759
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=51664549&loc=SL4569616-111683
| Name: |
us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
| Name: |
us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
v3.3.1.900
DISCONTINUED OPERATIONS (Details 1) - USD ($)
|
Nov. 30, 2015 |
May. 31, 2015 |
Nov. 30, 2014 |
May. 31, 2014 |
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
|
|
|
|
| Cash |
$ 0
|
$ 48,161
|
$ 112,115
|
$ 344,636
|
| Accounts and other receivables |
0
|
2,776,773
|
|
|
| Advances to suppliers |
0
|
1,866,075
|
|
|
| Investment in sales-type lease |
0
|
2,384,088
|
|
|
| Total current assets |
0
|
8,703,090
|
|
|
| Property and equipment |
0
|
1,045,827
|
|
|
| Long-term receivables |
0
|
2,950,151
|
|
|
| Total assets |
0
|
12,864,758
|
|
|
| Short-term loans |
0
|
2,984,834
|
|
|
| Accounts payable |
0
|
2,630,700
|
|
|
| Taxes payable |
0
|
2,685,297
|
|
|
| Due to related parties |
0
|
2,136,921
|
|
|
| Total current liabilities |
0
|
11,928,595
|
|
|
| Total liabilities |
$ 0
|
$ 12,266,185
|
|
|
| X |
- DefinitionAmount classified as assets attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
| Name: |
us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2473-110228
| Name: |
us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as accounts, notes and loans receivable attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as accounts payable attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2473-110228
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as capital leased assets attributable to disposal group, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2473-110228
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationCapitalLeasedAssetsCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as cash and cash equivalents attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash Equivalents
-URI http://asc.fasb.org/extlink&oid=6507016
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash
-URI http://asc.fasb.org/extlink&oid=6506951
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as other assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2473-110228
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as other liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2473-110228
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherCurrentLiabilities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as other liabilities attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherLiabilities |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as other assets attributable to disposal group held for sale or disposed of, expected to be disposed of after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2510-110228
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as property, plant and equipment attributable to disposal group held for sale or disposed of, expected to be disposed of after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2510-110228
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
| Name: |
us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount classified as liabilities attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
| Name: |
us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionAmount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1107-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=51824106&loc=d3e2473-110228
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
| Name: |
us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
v3.3.1.900
DISCONTINUED OPERATIONS (Details Textual)
|
Jun. 12, 2015
USD ($)
shares
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
|
| Stock Repurchased During Period, Shares | shares |
10,000,000
|
| China Metal [Member] |
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
|
| Subsidiary Company Of Ownership Interest |
100.00%
|
| Disposal Group, Including Discontinued Operation, Consideration | $ |
$ 598,573
|
| China Metal [Member] | Common Stock [Member] |
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] |
|
| Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest |
100.00%
|
| X |
- DefinitionPercentage of ownership interest.
| Name: |
taer_SubsidiaryCompanyOfOwnershipInterest |
| Namespace Prefix: |
taer_ |
| Data Type: |
num:percentItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of consideration received or receivable for the disposal of assets and liabilities, including discontinued operation.
| Name: |
us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
| Name: |
us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30
-Article 5
| Name: |
us-gaap_StockRepurchasedDuringPeriodShares |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe number of units or percentage investment held in the subsidiary by the limited liability company or limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611443-123010
| Name: |
us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:percentItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.3.1.900
v3.3.1.900
NOTE PAYABLE (Details Textual) - USD ($)
|
|
1 Months Ended |
3 Months Ended |
6 Months Ended |
|
Sep. 03, 2015 |
Nov. 23, 2015 |
Aug. 25, 2015 |
Aug. 24, 2015 |
Nov. 30, 2015 |
Nov. 30, 2014 |
Nov. 30, 2015 |
Nov. 30, 2014 |
May. 31, 2015 |
| Amortization of Debt Discount (Premium) |
|
|
|
|
$ 82,518
|
$ 0
|
$ 85,977
|
$ 0
|
|
| Debt Instrument, Unamortized Discount |
|
|
|
|
10,059
|
|
10,059
|
|
$ 10,059
|
| Proceeds from Issuance of Debt |
|
|
$ 11,000
|
|
|
|
|
|
|
| Promissory Notes [Member] |
|
|
|
|
|
|
|
|
|
| Debt Instrument Debt Discount |
|
|
|
$ 44,790
|
|
|
|
|
|
| Notes Payable, Total |
|
|
|
$ 79,000
|
$ 25,000
|
|
$ 25,000
|
|
|
| Debt Instrument, Interest Rate, Stated Percentage |
|
|
|
2.00%
|
5.00%
|
|
5.00%
|
|
|
| Debt Instrument, Maturity Date |
|
|
|
Nov. 23, 2015
|
Sep. 30, 2016
|
|
|
|
|
| Stock Issued During Period, Shares, Other |
|
|
|
180,000
|
|
|
|
|
|
| Amortization of Debt Discount (Premium) |
|
|
|
|
$ 3,459
|
|
$ 41,511
|
|
|
| Promissory Notes [Member] | Investor [Member] |
|
|
|
|
|
|
|
|
|
| Debt Instrument Debt Discount |
|
$ 9,177
|
|
|
|
|
|
|
|
| Promissory Notes One [Member] | Investor [Member] |
|
|
|
|
|
|
|
|
|
| Debt Instrument Debt Discount |
$ 41,889
|
|
|
|
|
|
|
|
|
| Notes Payable, Total |
$ 78,000
|
|
|
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
Dec. 03, 2015
|
|
|
|
|
|
|
|
|
| Stock Issued During Period, Shares, Other |
156,000
|
|
|
|
|
|
|
|
|
| Amortization of Debt Discount (Premium) |
|
|
|
|
40,508
|
|
40,508
|
|
|
| Debt Instrument, Unamortized Discount |
|
|
|
|
76,619
|
|
76,619
|
|
|
| Promissory Notes Two [Member] | Investor [Member] |
|
|
|
|
|
|
|
|
|
| Notes Payable, Total |
|
$ 25,000
|
|
|
|
|
|
|
|
| Debt Instrument, Maturity Date |
|
Jan. 24, 2016
|
|
|
|
|
|
|
|
| Stock Issued During Period, Shares, Other |
|
25,000
|
|
|
|
|
|
|
|
| Amortization of Debt Discount (Premium) |
|
|
|
|
499
|
|
499
|
|
|
| Debt Instrument, Unamortized Discount |
|
|
|
|
$ 16,322
|
|
$ 16,322
|
|
|
| X |
- DefinitionAmount of noncash expenses included in interest expense of debt discount and premium associated with the related debt instruments.
| Name: |
taer_DebtInstrumentDebtDiscount |
| Namespace Prefix: |
taer_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionAmount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.8)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
| Name: |
us-gaap_AmortizationOfDebtDiscountPremium |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionContractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22(a)(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_DebtInstrumentInterestRateStatedPercentage |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:percentItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionDate when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22(a)(2))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
| Name: |
us-gaap_DebtInstrumentMaturityDate |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400
| Name: |
us-gaap_DebtInstrumentUnamortizedDiscount |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
instant |
|
| X |
- DefinitionIncluding the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.16)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.16)
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 13, 16
-Article 9
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19, 20, 22
-Article 5
| Name: |
us-gaap_NotesPayable |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionThe cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.
| Name: |
us-gaap_ProceedsFromIssuanceOfDebt |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.
| Name: |
us-gaap_StockIssuedDuringPeriodSharesOther |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_ShortTermDebtTypeAxis=taer_PromissoryNotesMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_ShortTermDebtTypeAxis=taer_PromissoryNotesOneMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_ShortTermDebtTypeAxis=taer_PromissoryNotesTwoMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.3.1.900
STOCKHOLDERS' EQUITY (Details Textual) - USD ($)
|
|
1 Months Ended |
6 Months Ended |
|
Jun. 12, 2015 |
Aug. 31, 2015 |
Apr. 23, 2015 |
Nov. 30, 2015 |
May. 31, 2015 |
| Class of Stock [Line Items] |
|
|
|
|
|
| Common Stock, Shares, Issued |
|
|
|
25,291,403
|
34,325,241
|
| Common Stock, Shares, Outstanding |
|
|
|
25,291,403
|
34,325,241
|
| Stock Repurchased During Period, Shares |
10,000,000
|
|
|
|
|
| Stock Issued During Period, Shares, Issued for Services |
|
|
|
105,162
|
|
| Stock Issued During Period, Value, Issued for Services |
|
|
|
$ 60,000
|
|
| Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award |
|
2,000,000
|
|
|
|
| Common Stock [Member] |
|
|
|
|
|
| Class of Stock [Line Items] |
|
|
|
|
|
| Stock Issued During Period, Shares, New Issues |
|
|
3,000,000
|
361,000
|
|
| Common Stock [Member] | Board of Directors Chairman [Member] |
|
|
|
|
|
| Class of Stock [Line Items] |
|
|
|
|
|
| Stock Issued During Period, Shares, New Issues |
|
|
|
500,000
|
|
| Stock Issued During Period, Value, Issued for Services |
|
|
|
$ 290,000
|
|
| Shares Issued, Price Per Share |
|
|
|
$ 0.58
|
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
| Name: |
us-gaap_ClassOfStockLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5
| Name: |
us-gaap_CommonStockSharesIssued |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5
| Name: |
us-gaap_CommonStockSharesOutstanding |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionThe number of shares purchased on the open market during the period for issuance to employees under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionPer share or per unit amount of equity securities issued.
| Name: |
us-gaap_SharesIssuedPricePerShare |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:perShareItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionNumber of shares issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders.
| Name: |
us-gaap_StockIssuedDuringPeriodSharesIssuedForServices |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30
-Article 5
| Name: |
us-gaap_StockIssuedDuringPeriodSharesNewIssues |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionValue of stock issued in lieu of cash for services contributed to the entity. Value of the stock issued includes, but is not limited to, services contributed by vendors and founders.
| Name: |
us-gaap_StockIssuedDuringPeriodValueIssuedForServices |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30
-Article 5
| Name: |
us-gaap_StockRepurchasedDuringPeriodShares |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_TitleOfIndividualAxis=us-gaap_BoardOfDirectorsChairmanMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.3.1.900
| X |
- DefinitionPercentage of ownership interest.
| Name: |
taer_SubsidiaryCompanyOfOwnershipInterest |
| Namespace Prefix: |
taer_ |
| Data Type: |
num:percentItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30
-Article 5
| Name: |
us-gaap_StockRepurchasedDuringPeriodShares |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionEquity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3
| Name: |
us-gaap_StockRepurchasedDuringPeriodValue |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
v3.3.1.900
COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)
|
|
1 Months Ended |
6 Months Ended |
Sep. 10, 2015 |
Apr. 27, 2015 |
Nov. 30, 2015 |
| Other Commitments [Line Items] |
|
|
|
| Officers' Compensation |
|
$ 120,000
|
|
| Incentive Bonus Ratio |
|
|
100.00%
|
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross |
|
3,000,000
|
|
| GoCom Corporation [Member] |
|
|
|
| Other Commitments [Line Items] |
|
|
|
| Stock Issued During Period, Shares, Acquisitions |
200,000,000
|
|
|
| BlueCo Energy LLC [Member] |
|
|
|
| Other Commitments [Line Items] |
|
|
|
| Equity Method Investment, Ownership Percentage |
100.00%
|
|
|
| Sales Revenue, Net [Member] |
|
|
|
| Other Commitments [Line Items] |
|
|
|
| Incentive Bonus Ratio |
|
|
0.75%
|
| Sales Revenue, Net [Member] | Minimum [Member] |
|
|
|
| Other Commitments [Line Items] |
|
|
|
| Revenue Criteria For Incentive Bonus |
|
|
$ 25,000,000
|
| X |
- DefinitionIts represents the percentage of incentive bonus ratio on base salary.
| Name: |
taer_IncentiveBonusRatio |
| Namespace Prefix: |
taer_ |
| Data Type: |
num:percentItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIts represents the revenue criteria for incentive bonus.
| Name: |
taer_RevenueCriteriaForIncentiveBonus |
| Namespace Prefix: |
taer_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
duration |
|
| X |
- DefinitionThe percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571
| Name: |
us-gaap_EquityMethodInvestmentOwnershipPercentage |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
num:percentItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionExpenditures for salaries of officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.4)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
| Name: |
us-gaap_OfficersCompensation |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
debit |
| Period Type: |
duration |
|
| X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
| Name: |
us-gaap_OtherCommitmentsLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionGross number of share options (or share units) granted during the period.
| Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of shares of stock issued during the period pursuant to acquisitions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28,29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30
-Article 5
| Name: |
us-gaap_StockIssuedDuringPeriodSharesAcquisitions |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_RangeAxis=us-gaap_MinimumMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
v3.3.1.900
SUBSEQUENT EVENTS (Details Textual) - USD ($)
|
|
|
1 Months Ended |
6 Months Ended |
|
|
Jan. 04, 2016 |
Dec. 01, 2015 |
Dec. 31, 2015 |
Apr. 23, 2015 |
Nov. 30, 2015 |
Dec. 04, 2015 |
May. 31, 2015 |
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Common Stock, Shares Authorized |
|
|
|
|
150,000,000
|
|
150,000,000
|
| Preferred Stock, Shares Authorized |
|
|
|
|
10,000,000
|
|
10,000,000
|
| Subsequent Event [Member] |
|
|
|
|
|
|
|
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Common Stock, Shares Authorized |
|
|
|
|
|
150,000,000
|
|
| Preferred Stock, Shares Authorized |
|
|
|
|
|
10,000,000
|
|
| Subsequent Event [Member] | DemanSYS Energy Inc [Member] |
|
|
|
|
|
|
|
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Convertible Debt |
|
$ 450,000
|
|
|
|
|
|
| Common Stock [Member] |
|
|
|
|
|
|
|
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Stock Issued During Period, Shares, New Issues |
|
|
|
3,000,000
|
361,000
|
|
|
| Common Stock [Member] | Subsequent Event [Member] |
|
|
|
|
|
|
|
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Debt Instrument, Convertible, Terms of Conversion Feature |
|
The note is convertible upon default, at the option of the holder, into shares of common stock at a 30% discount to the 10 day average closing price. The note is also convertible at the option of the lender, in the event of default, into shares of common stock at a 30% discount to the 10 day average closing price.
|
|
|
|
|
|
| Common Stock [Member] | Subsequent Event [Member] | Consulting Agreements [Member] |
|
|
|
|
|
|
|
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Stock Issued During Period, Shares, New Issues |
30,000
|
|
2,000,000
|
|
|
|
|
| Common Stock [Member] | Subsequent Event [Member] | Employment Agreement [Member] |
|
|
|
|
|
|
|
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Stock Issued During Period, Shares, New Issues |
100,000
|
|
10,800,000
|
|
|
|
|
| Common Stock [Member] | Subsequent Event [Member] | Joint Venture Agreement [Member] |
|
|
|
|
|
|
|
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Stock Issued During Period, Shares, New Issues |
1,000,000
|
|
|
|
|
|
|
| Common Stock [Member] | Subsequent Event [Member] | DemanSYS Energy Inc [Member] |
|
|
|
|
|
|
|
| Subsequent Event [Line Items] |
|
|
|
|
|
|
|
| Stock Issued During Period, Shares, Purchase of Assets |
|
2,500,000
|
|
|
|
|
|
| X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5
| Name: |
us-gaap_CommonStockSharesAuthorized |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionIncluding the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.16(a)(2))
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.16)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19, 20, 22
-Article 5
| Name: |
us-gaap_ConvertibleDebt |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:monetaryItemType |
| Balance Type: |
credit |
| Period Type: |
instant |
|
| X |
- DefinitionDescription of the conversion terms of a debt instrument which may include the conversion ratio (including all potential conversion ratios if contingently adjustable), type of debt or equity security into which the debt is convertible, the dollars of debt or the number of shares into which the instrument is convertible (or potentially convertible into), the conversion period, any contingencies associated with the conversion terms, and the existence and amount of a beneficial conversion feature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22(a)(5))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644
| Name: |
us-gaap_DebtInstrumentConvertibleTermsOfConversionFeature |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29
-Article 5
| Name: |
us-gaap_PreferredStockSharesAuthorized |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
instant |
|
| X |
- DefinitionNumber of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30
-Article 5
| Name: |
us-gaap_StockIssuedDuringPeriodSharesNewIssues |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionNumber of shares of stock issued during the period as part of a transaction to acquire assets that do not qualify as a business combination.
| Name: |
us-gaap_StockIssuedDuringPeriodSharesPurchaseOfAssets |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:sharesItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionDetail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event.
| Name: |
us-gaap_SubsequentEventLineItems |
| Namespace Prefix: |
us-gaap_ |
| Data Type: |
xbrli:stringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Details
| Name: |
us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
dei_LegalEntityAxis=taer_DemansysEnergyIncMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
taer_AgreementsAxis=taer_ConsultingAgreementsMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
taer_AgreementsAxis=taer_EmploymentAgreementMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
| X |
- Details
| Name: |
taer_AgreementsAxis=taer_JointVentureAgreementMember |
| Namespace Prefix: |
|
| Data Type: |
na |
| Balance Type: |
|
| Period Type: |
|
|
Register to chat with like-minded investors on our interactive forums.
Hot Features
Premium
