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EXCEL - IDEA: XBRL DOCUMENT - Artisanal Brands, Inc.Financial_Report.xls
10-K - FORM 10-Q - Artisanal Brands, Inc.ahfp_10k-053112.htm
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EX-32.1 - EXHIBIT 32.1 - Artisanal Brands, Inc.ex32-1.htm
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Note 15 - Related Party Transactions
12 Months Ended
May 31, 2012
Related Party Transactions Disclosure [Text Block]
15.           RELATED PARTY TRANSACTIONS

Since acquiring Artisanal, Mr. Dowe’s wife, Janet L. Dowe, has periodically provided legal and administrative services to the company for a consulting fee of $5,000 per month.  The fees paid to Mrs. Dowe for services rendered to Artisanal are approved by our Board of Directors, except for Mr. Dowe who is not entitled to vote on these matters.  Effective January 1, 2010, Mrs. Dowe became a part-time employee of Artisanal at an annual salary of $60,000.  Effective April 22, 2011, she became a full-time employee at an annual salary of $120,000.

With respect to the foregoing transactions, we believe that the terms of these transactions were as fair to us as could be obtained from an unrelated third party.  Future transactions with affiliates including loans will be on terms no less favorable than can be obtained from unaffiliated parties and will be approved by a majority of the independent disinterested members of our board of directors.