In addition to that
After going through the filing again, in response to certain posted allegations, please read the filing in its ENTIRETY. The logic is correct but what is missing in the logic is a very relevant point to how the numbers are established:
PG 38 of the recent 10K
"We generated no revenue for the fiscal year ending May 31, 2014 and for the year ending May 31, 2013. Our operations to date have been financed by the sale of our common stock and third party loans. Operating expenses decreased for the year ended May 31, 2014 which totaled $240,368 as compared to $1,620,461 for the year ended May 31, 2013. Management fees totaled $430,200 for the year ended May 31, 2014 as compared to $363,503 for the year ended May 31, 2013. General and Administrative (G&A) expenses, including professional fees, totaled $240,368 and $1,620,461 respectively. The lower G&A expenses is the result of the mutually agreed termination of the August 31, 2012 twenty-four month Financing Facilities Consulting Agreement (the “FFCA Agreement”) between the Company and Prodigy Asset Management, LLC (“PAM”). In consideration of the services to be provided by PAM, the Company agreed to pay PAM a prepaid retainer fee of $1,000,000.00 in the form of 20,000,000 common stock (Shares) of the Company. The Company issued 20 million Shares to PAM which PAM has agreed to return the 20 million Shares to the Company resulting in the unwinding of the transaction. The company amortized $500,000 the prepaid retainer. Upon termination of the FFCA Agreement, the costs amortized are reversed resulting in a credit or negative financial consulting fees for the year ending May 31, 2014."
Other Expenses including debt interest, amortized discounts and extraordinary expenses, for the year ending May 31, 2014 and May 31, 2013 totaled $386,629 and ($34,646) respectively.
We incurred a net loss of $626,997 for the period ending May 31, 2014 compared to the net loss of $1,752,791 for the period ending May 31, 2013."
$$$ XNRG $$$
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