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| x      | ANNUAL      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|------------------------------------------------------------------------------------------|
|   |                                                                                     |
|   | For      the Fiscal Year Ended       May 31,2008      |

| o      | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|----------------------------------------------------------------------------------------------|
|   |                                                                                         |
|   | For      the transition period from _____________ to______________                           |
|   |                                                                                         |
|   |                                                                                         |
|   | Commission      file number 000-26331                                                   |

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| Oklahoma                                                                      |   | 75-2954680                                |
|-------------------------------------------------------------------------------|--------|-------------------------------------------|
| (State or other      jurisdiction of incorporation or      organization) |   | (I.R.S. Employer      Identification No.) |

| 1613 East 15th Street, Tulsa,      Oklahoma |   | 74120           |
|--------------------------------------------------|--------|-----------------|
| (Address of      principal executive offices)    |   | (Zip      Code) |

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| Title      of each class |   | Name of each      exchange on which registered |
|--------------------------|--------|-----------------------------------------------------|
|                     |   |                                                |
|                     |   |                                                |
| None                     |   | None                                                |
|                          |   |                                                     |

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|                      | GREYSTONE      LOGISTICS, INC.(Registrant) |                                                 |
|---------------------------|--------------------------------------------|------------------------------------------------------|
|                      |                                       |                                                 |   |
| Date:  01/14/09 | By:                                        | /s/ Warren      F. Kruger                       |   |
|                      |                                       | Warren      F. Kruger, Chairman, President and Chief |   |
|                      |                                       | Executive      Officer                               |   |
|                      |                                       |                                                 |   |

|                      |   |                                                 |
|---------------------------|--------|------------------------------------------------------|
|                      |   |                                                 |   |
| Date:  01/14/09 | By:    | /s/ Warren      F. Kruger                       |   |
|                      |   | Warren      F. Kruger, Chairman, President and Chief |   |
|                      |   | Executive      Officer                               |   |
|                      |   |                                                 |   |

|                      |   |                                 |
|---------------------------|--------|--------------------------------------|
|                      |   |                                 |   |
| Date:  01/14/09 | By:    | /s/      Robert B. Rosene, Jr.       |   |
|                      |   | Robert      B. Rosene, Jr., Director |   |
|                      |   |                                 |   |
|                      |   |                                 |   |

|                      |   |                                           |
|---------------------------|--------|------------------------------------------------|
|                      |   |                                           |   |
| Date:  01/14/09 | By:    | /s/ Robert      H. Nelson                 |   |
|                      |   | Robert      H. Nelson, Chief Financial Officer |   |
|                      |   |                                           |   |
|                      |   |                                           |   |

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