Quarterly report pursuant to Section 13 or 15(d)

Interim Consolidated Statements of Cash Flows

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Interim Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
May. 31, 2015
May. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the period $ (957,475) $ (1,109,531)
Items not requiring an outlay of cash:    
Fair value of options and warrants (included in general and administrative expenses) 0 188,470
Amortization of deferred financing costs 31,696 0
Depreciation 23,583 21,539
Changes in non-cash working capital:    
Accounts receivable (2,533) 7,579
Prepaid expenses and other receivables (1,784) (15,854)
Inventory 28,794 (33,024)
Accounts payable and accrued liabilities (30,931) (13,947)
NET CASH USED IN OPERATING ACTIVITIES (908,650) (954,768)
CASH FLOWS FROM INVESTING ACTIVITIES    
Restricted cash (2,500,000) 0
Acquisition of Equipment 0 (37,625)
NET CASH USED IN INVESTING ACTIVITIES (2,500,000) (37,625)
CASH FLOWS FROM FINANCING ACTIVITIES    
Subscription for common stock pending allotment 2,500,000 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,500,000 0
Effects of foreign currency exchange rate changes (11,630) (18,943)
NET DECREASE IN CASH FOR THE PERIOD (920,280) (1,011,336)
Cash, beginning of period 1,085,006 1,842,149
CASH END OF PERIOD 164,726 830,813
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:    
INCOME TAXES PAID 0 0
INTEREST PAID $ 84,145 $ 0