Quarterly report pursuant to Section 13 or 15(d)

Interim Consolidated Statements of Cash Flows

v3.5.0.2
Interim Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
May 31, 2016
May 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the period $ (852,026) $ (957,475)
Items not requiring an outlay of cash:    
Amortization of deferred financing costs 31,870 31,696
Depreciation 23,258 23,583
Changes in non-cash working capital:    
Accounts receivable 17,022 (2,533)
Prepaid expenses and other receivables (1,882) (1,784)
Inventory 31,061 28,794
Accounts payable and accrued liabilities (65,764) (30,931)
NET CASH USED IN OPERATING ACTIVITIES (816,461) (908,650)
CASH FLOWS FROM INVESTING ACTIVITIES    
Restricted cash 0 (2,500,000)
NET CASH USED IN INVESTING ACTIVITIES 0 (2,500,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Subscription for common stock pending allotment 0 2,500,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 0 2,500,000
Effects of foreign currency exchange rate changes (20,394) (11,630)
NET DECREASE IN CASH AND CASH EQUIVALENT FOR THE PERIOD (836,855) (920,280)
Cash and cash equivalent, beginning of period 1,851,021 1,085,006
CASH AND CASH EQUIVALENT, END OF PERIOD 1,014,166 164,726
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:    
INCOME TAXES PAID 0 0
INTEREST PAID $ 83,686 $ 84,145