Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Nov. 30, 2017
Nov. 30, 2016
Nov. 30, 2015
Cash Flows from Operating Activities:      
Net Income (loss) $ 1,831,181 $ 1,181,210 $ (3,244,211)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:      
Depreciation and amortization 84,641 81,845 151,250
Provision for bad debt (9,172) 37,503 (20,370)
Loss on disposal or sale of property, plant and equipment 64,853 1,575 852,606
Loss on write off of intangibles 1,070 0 220,286
Debt discount amortization - related party 0 0 194,184
Deferred financing fees amortization - related party 0 0 970,931
Deferred financing fees amortization 126,266 127,972 370,527
Stock-based compensation 167,121 338,540 67,398
Deferred income taxes 1,062,144 890,458 (1,583,441)
Change in Operating Assets & Liabilities:      
(Increase) decrease in accounts receivable (428,665) (73,128) 156,616
Decrease in inventory 468,652 889,319 1,944,688
(Increase) decrease in prepaid expenses and other receivables (175,941) 231,037 (65,898)
Decrease in prepaid income and refundable income tax 6,002 25,902 383,542
(Increase) in other assets (6,282) 0 (430,544)
(Decrease) in accounts payable and accrued liabilities (2,041,828) (2,029,797) (3,085,478)
(Decrease) increase in long-term liabilities 0 (978,156) 1,242,282
Increase in other liabilities 21,006 0 147,853
(Decrease) Increase in income taxes payable (20,000) 20,000 0
Net Cash Provided by (Used in) Operating Activities 1,151,048 744,280 (1,727,779)
Cash Flows from Investing Activities:      
Acquisition of property, plant and equipment (54,833) (113,701) (113,495)
Proceeds from sale of property, plant and equipment 0 500 13,600
Net Cash (Used in) Provided by Investing Activities (54,833) (113,201) (99,895)
Cash Flows from Financing Activities:      
(Payments to) Proceeds from line of credit (1,261,530) 3,277,885 0
(Payments to) Proceeds from line of credit - related party 0 (2,700,000) 2,100,000
Payments of deferred finance charges 0 (387,559) 0
Repayments of term loan - related party 0 (1,000,000) 0
Payments for capital lease obligations (3,722) (22,009) (4,063)
Net Cash (Used in) Provided by Financing Activities (1,265,252) (831,683) 2,095,937
Net (Decrease) Increase in Cash (169,037) (200,604) 268,263
Cash and Cash Equivalents at Beginning of Period 309,280 509,884 241,621
Cash and Cash Equivalents at End of Period 140,243 309,280 509,884
Cash paid during the period for:      
Interest 505,872 588,205 1,380,598
Income taxes 120,393 8,460 59,107
Schedule of Non Cash Financing Activities:      
Warrants issued in connection with related party financing $ 0 $ 0 $ 1,456,400