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, 2015
Nov. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the year $ (2,550,438) $ (2,722,412)
Items not requiring an outlay of cash:    
Fair value of issue of options (included in general and administration expenses) 422,459 751,610
Fair value of modification of options and warrants (included in general and administration expenses) 216,684 0
Amortization of deferred financing costs 63,566 20,202
Depreciation 47,165 45,586
Changes in non-cash working capital:    
Accounts receivable (31,326) 12,816
Inventory 75,927 (120,246)
Prepaid expenses and other receivables 1,807 14,635
Accounts payable and accrued liabilities 15,332 57,759
NET CASH USED IN OPERATING ACTIVITIES (1,738,824) (1,940,050)
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of Property and Equipment 0 (37,625)
NET CASH USED IN INVESTING ACTIVITIES 0 (37,625)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net Proceeds from issuance of common stock 2,500,000 0
Net proceeds from convertible debentures 0 1,241,299
Exercise of stock options and warrants 23,770 12,500
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,523,770 1,253,799
Effects of foreign currency exchange rate changes (18,931) (33,267)
NET INCREASE (DECREASE) IN CASH FOR THE YEAR 766,015 (757,143)
Cash, beginning of Year 1,085,006 1,842,149
CASH END OF YEAR 1,851,021 1,085,006
SUPPLEMENTAL INFORMATION:    
INCOME TAXES PAID 0 0
INTEREST PAID $ 167,831 $ 0