Quarterly report pursuant to Section 13 or 15(d)

Interim Consolidated Statements of Cash Flows

v2.4.0.8
Interim Consolidated Statements of Cash Flows (USD $)
 3 Months Ended 108 Months Ended
Feb. 28, 2014
Feb. 28, 2013
Feb. 28, 2014
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss for the period $ (478,437) $ (469,648) $ (21,798,794)
Items not requiring an outlay of cash:      
Issue of shares for services 0 0 584,500
Fair value of options and warrants (included in general and administration expenses) 0 38,183 6,485,771
Recovery of accounts payable 0 0 (215,143)
Loss on cancellation of common stock 0 0 34,400
Depreciation 10,142 8,214 109,216
Interest on convertible debt converted to stock 0 0 79,752
Amortization of debt discount 0 3,968 579,427
Amortization of deferred financing cost 0 0 35,160
Gain on extinguishment of debt included in general and administration expenses 0 0 (33,501)
Derivative financial instrument 0 0 (349,532)
Changes in non-cash working capital:      
Accounts receivable (803) 0 (21,154)
Prepaid expenses and other receivables 34,114 (6,114) (11,258)
Inventory (23,777) 0 (23,777)
Deferred costs 0 (20,000) 0
Accounts payable and accrued liabilities 13,767 64,339 481,717
NET CASH USED IN OPERATING ACTIVITIES (444,994) (381,058) (14,063,216)
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisition of Plant and Equipment 0 0 (251,211)
NET CASH USED IN INVESTING ACTIVITIES 0 0 (251,211)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net proceeds from issuance of common shares 0 0 13,538,600
Proceeds from convertible debentures 0 0 1,788,328
Repayment of convertible debentures 0 0 (30,000)
Proceeds from bridge loans 0 0 641,965
Repayment of bridge loans 0 0 (294,811)
Cancellation of common stock 0 0 (50,000)
Loan from non related party 0 200,000 0
Exercise of stock options 0 0 117,500
NET CASH PROVIDED BY FINANCING ACTIVITIES 0 200,000 15,711,582
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FOR THE PERIOD (444,994) (181,058) 1,397,155
Cash, beginning of period 1,842,149 232,471 0
CASH AND CASH EQUIVALENT END OF PERIOD 1,397,155 51,413 1,397,155
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:      
INCOME TAXES PAID 0 0 0
INTEREST PAID $ 0 $ 0 $ 0