STOCK OPTIONS AND WARRANTS

6 Months Ended

Nov. 30, 2013

NOTE 8 - STOCK OPTIONS AND WARRANTS

Stock option activity for six months ended November 30, 2013 is presented in the table below:

	Number of Shares	Weighted- average Exercise Price		Weighted- average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at May 31, 2013	829,445	$	5.25	4.16	$	-
Granted	-	$	-	-	$	-
Forfeited	-	$	-	-	$	-
Outstanding at November 30, 2013	829,445	$	5.25	3.66	$	-
Exercisable at November 30 , 2013	462,778	$	5.25	0.41	$	-

As of November 30, 2013, there was approximately $1,200,180 of total unrecognized compensation cost related to non-vested stock options which is expected to be substantially recognized when certain performance conditions are met or when there is a change of control.

Warrants

Warrant activity is presented in the table below:

	Number of Shares	Weighted- average Exercise Price		Weighted- average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at May 31, 2013	758,335	$	3.16	1.84	$	-
Granted	75,001	$	2.25	-	$	-
Forefeited	(146,667)	$	1.50	-	$	-
Outstanding at November 30, 2013	686,669	$	3.42	1.82	$	-
Exercisable at November 30, 2013	686,669	$	3.42	1.82	$	-

Zinco do Brasil, Inc. 10-Q/A