SUBSEQUENT EVENTS |
6 Months Ended | ||
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May 31, 2018 | |||
SUBSEQUENT EVENTS [Text Block] |
On July 10, 2018, the Company entered into an employment agreement (the “Employment Agreement”) pursuant to which the employee will serve as Director of Sales and Marketing of the Company. By the terms of the Employment Agreement, the said employee will receive an annual salary of $80,000 plus 3% commission override on all Company sales until June 30, 2019, payable quarterly. The Company agreed to issue 1,500,000 stock options for shares of the Company’s common stock, with the stock options having the following exercise prices; 750,000 options are exercisable at the 20 -day trialing volume weighted average price as of July 10, 2018; 250,000 options exercisable at $0.50 ; 250,000 options exercisable at $0.75 ; and 250,000 options exercisable at $1.00. The stock options will vest over a 3 -year period, with the first 500,000 stock options vesting on June 30, 2019, 500,000 stock options vesting on June 30, 2020, and the remaining 500,000 stock options vesting on June 30, 2021. |