Quarterly report pursuant to Section 13 or 15(d)

Interim Statements of Cash Flows

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Interim Statements of Cash Flows (USD $)
 3 Months Ended 96 Months Ended
Feb. 28, 2013
Feb. 29, 2012
Feb. 28, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss for the period $ (469,648) $ (252,431) $ (19,765,794)
Items not requiring an outlay of cash:      
Issue of shares for services 0 0 584,500
Fair value of options and warrants (included in general and administration expenses) 38,183 213,440 6,523,954
Recovery of accounts payable 0 (215,143) (215,143)
Loss on cancellation of common stock 0 0 34,400
Amortization of plant and equipment 8,214 2,284 69,158
Amortization of debt discount 3,968 9,026 45,907
Amortization of deferred financing cost 0 8,766 35,160
Changes in non-cash working capital:      
Prepaid expenses and other receivables (6,114) (22,306) (13,314)
Deferred costs (20,000) 0 (52,500)
Accounts payable and accrued liabilities* 64,339 (121,132) 486,349
NET CASH USED IN OPERATING ACTIVITIES (381,058) (377,496) (12,267,323)
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisition of Plant and Equipment 0 (5,079) (205,992)
NET CASH USED IN INVESTING ACTIVITIES 0 (5,079) (205,992)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net proceeds from issuance of common shares 0 0 10,468,900
Proceeds from convertible debentures 0 825,000 1,788,328
Cancellation of common stock 0 0 (50,000)
Loan from non related party 200,000 0 200,000
Exercise of stock options 0 0 117,500
NET CASH PROVIDED BY FINANCING ACTIVITIES 200,000 825,000 12,524,728
NET INCREASE (DECREASE) IN CASH FOR THE PERIOD (181,058) 442,425 51,413
Cash, beginning of period 232,471 114,835 0
CASH, END OF PERIOD 51,413 557,260 51,413
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:      
INCOME TAXES PAID 0 0 0
INTEREST PAID $ 0 $ 0 $ 0