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 $)
 9 Months Ended
Aug. 31, 2014
Aug. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss for the period $ (1,554,693) $ (1,477,005)
Items not requiring an outlay of cash:    
Fair value of options and warrants (included in general and administration expenses) 222,422 99,245
Depreciation 33,563 27,655
Amortization of debt discount 0 37,361
Amortization of deferred financing costs 4,921 0
Changes in non-cash working capital:    
Accounts receivable 20,201 0
Prepaid expenses and other receivables 6,056 (6,829)
Inventory (32,886) 0
Deferred costs 0 32,500
Accounts payable and accrued liabilities* (36,170) 331,033 [1]
NET CASH USED IN OPERATING ACTIVITIES (1,336,586) (956,040)
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 shares 0 3,069,700
Proceeds (repayment) from convertible debentures 0 (30,000)
Net proceeds for convertible debentures 1,241,299 0
Exercise of stock options 12,500 0
Loan from related party 0 94,970
Loan from non-related parties 0 522,335
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,253,799 3,657,005
Effects of foreign currency exchange rate changes (15,356) 0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FOR THE PERIOD (135,768) 2,655,746
Cash, beginning of period 1,842,149 232,471
CASH AND CASH EQUIVALENT END OF PERIOD 1,706,381 2,888,217
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:    
INCOME TAXES PAID 0 0
INTEREST PAID $ 0 $ 6,901
[1] *Excludes the conversion of accrued interest for $138,160 into common shares during the nine month period ended August 31, 2013