Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Nov. 30, 2013

Property, Plant and Equipment [Abstract]

The components of property and equipment consisted of the following:



	November 30, 2013		November 30, 2012
Machinery and equipment	$	156,810	$	184,260
Furniture and equipment	771,988		557,667
Tools, dies and masters	494,166		448,169
Transportation equipment	44,076		44,076
Capitalized lease obligations	62,140		36,100
Web Site	20,000		20,000
Leasehold improvements	1,090,800		581,060
	$	2,639,980	$	1,871,332
Less: Accumulated depreciation	1,150,181		846,431
Property and Equipment—Net	$	1,489,799	$	1,024,901

Depreciation expense for the years ended November 30, 2013, 2012 and 2011 amounted to $303,750, $213,495 and $204,894, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details