|12 Months Ended|
Nov. 30, 2018
|Subsequent Events [Abstract]|
|SUBSEQUENT EVENTS||SUBSEQUENT EVENTS
On March 23, 2017, the Company entered into a License Agreement (the “Agreement”) with Ultimark Products, Inc. (“Ultimark”) for the exclusive right to manufacture, market and sell the Porcelana brand of skin care products. The Company’s Chairman of the Board and Chief Executive Officer, Lance Funston, is also the Chairman of the Board and Chief Executive Officer of Ultimark. The Company has renewed the Agreement for an additional one year term ending February 28, 2020, which included a modification of the Agreement to replace the Company option to purchase the Porcelana Brand with a right of first refusal if a third party buyer offers to purchase the brand. In consideration of the change in the Agreement, Ultimark and the Company have mutually agreed to reduce the royalty rate from 10% to 8%, effective March 1, 2019.
No definition available.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef