Quarterly report pursuant to Section 13 or 15(d)

Interim Statements of Cash Flows

v2.4.0.8
Interim Statements of Cash Flows (USD $)
 9 Months Ended 102 Months Ended
Aug. 31, 2013
Aug. 31, 2012
Aug. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss for the period $ (1,477,005) $ (951,270) $ (20,773,151)
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) 99,245 288,453 6,585,016
Recovery of accounts payable 0 (215,143) (215,143)
Loss on cancellation of common stock 0 0 34,400
Amortization of plant and equipment 27,655 11,827 88,599
Amortization of debt discount 37,361 19,256 79,300
Amortization of deferred financing cost 0 10,916 35,160
Changes in non-cash working capital:      
Prepaid expenses and other receivables (6,829) 98,392 (14,029)
Deferred costs 32,500 0 0
Accounts payable and accrued liabilities* 331,033 (144,217) 753,043
NET CASH USED IN OPERATING ACTIVITIES (956,040) (881,786) (12,842,305)
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisition of Plant and Equipment (45,219) (147,219) (251,211)
NET CASH USED IN INVESTING ACTIVITIES (45,219) (147,219) (251,211)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net proceeds from issuance of common shares 3,069,700 400,000 13,538,600
Proceeds (repayment) from convertible debentures (30,000) 910,000 1,758,328
Cancellation of common stock 0 0 (50,000)
Loan from related party 94,970 0 94,970
Loan from non-related parties 522,335 0 522,335
Exercise of stock options 0 0 117,500
NET CASH PROVIDED BY FINANCING ACTIVITIES 3,657,005 1,310,000 15,981,733
NET INCREASE IN CASH FOR THE PERIOD 2,655,746 280,995 2,888,217
Cash, beginning of period 232,471 114,835 0
CASH, END OF PERIOD 2,888,217 395,830 2,888,217
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:      
INCOME TAXES PAID 0 0 0
INTEREST PAID $ 6,901 $ 0 $ 0