Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Nov. 30, 2014
Nov. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the year $ (2,722,412) $ (2,024,211)
Items not requiring an outlay of cash:    
Fair value of options and warrants (included in general and administration expenses) 751,610 0
Amortization of deferred financing costs 20,202 0
Depreciation 45,586 38,130
Interest on convertible debt converted to stock 0 79,752
Amortization of debt discount 0 537,488
Gain on extinguishment of debt included in general and administration expenses 0 (33,501)
Derivative financial instrument 0 (349,532)
Changes in non-cash working capital:    
Accounts receivable 12,816 (20,351)
Inventory (120,246) 0
Prepaid expenses and other receivables 14,635 (38,172)
Deferred costs 0 32,500
Accounts payable and accrued liabilities* 57,759 45,940
NET CASH USED IN OPERATING ACTIVITIES (1,940,050) (1,731,957)
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of Plant and Equipment (37,625) (45,219)
NET CASH USED IN INVESTING ACTIVITIES (37,625) (45,219)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net Proceeds from issuance of common stock 0 3,069,700
Net proceeds from convertible debentures 1,241,299 0
Repayment of convertible debentures 0 (30,000)
Exercise of stock options 12,500 0
Proceeds from bridge loans 0 641,965
Repayment of bridge loans 0 (294,811)
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,253,799 3,386,854
Effects of foreign currency exchange rate changes (33,267) 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FOR THE YEAR (757,143) 1,609,678
Cash and cash equivalents , beginning of Year 1,842,149 232,471
CASH AND CASH EQUIVALENTS END OF YEAR 1,085,006 1,842,149
SUPPLEMENTAL INFORMATION:    
INCOME TAXES PAID 0 0
INTEREST PAID $ 0 $ 39,545