Re: Shareholders’ deficiency I guess if you read through the current MD&A, you may notice that "Shareholders’ deficiency amounted to $1,154,768 as at May 31, 2012". Don't panic since the deficiency is mostly deferred revenues, currently standing at 7,919,430 (or 81.6% of Total liabilities which is $9,700,224).
According to the management, the deferred revenue represents the "funding received from LFB", and I believe, if that's the case, as TLN completes more milestones it should go to Asset, whihch may translate to shareholder equity.
Hope I explained it, but your thoughts are welcome.