Annual report pursuant to Section 13 and 15(d)

DERIVATIVE FINANCIAL INSTRUMENTS

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DERIVATIVE FINANCIAL INSTRUMENTS
12 Months Ended
Nov. 30, 2014
DERIVATIVE FINANCIAL INSTRUMENTS [Text Block]
16.

DERIVATIVE FINANCIAL INSTRUMENTS

 

Year ended November 30, 2013

   
 

Derivative Liabilities

The convertible bridge loans as described in Note 15 contained embedded conversion features that embodied terms and features that required the instruments to be bifurcated and carried as derivative liabilities. However, as of the reporting date these derivative financial instruments were either fully converted or fully repaid. As a result, there are no derivative financial instruments as of November 30, 2013.

The following table illustrates the amounts that were reflected in the earnings related to our derivatives for the year ended November 30, 2013:

      Year Ended  
  Derivative income (expense):   November  
      30, 2013  
  $199,342 face value convertible bridge loan (embedded conversion feature) $ 136,402  
  $97,456 face value convertible bridge loan (embedded conversion feature)   45,370  
  $197,355 face value convertible bridge loan (embedded conversion feature)   83,029  
  $147,812 face value convertible bridge loan (embedded conversion feature)   84,731  
  Total derivative income $ 349,532