Cash Flow

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
May 31, 2018
May 31, 2017
Cash Flows from Operating Activities:    
Net (Loss) Income $ (3,512,980) $ 885,301
Adjustments to reconcile net income to cash (used in) provided by operating activities:    
Depreciation and amortization 27,454 45,758
Change in allowance for bad debts 16,713 (10,655)
Loss on write off of fixed assets 782 0
Deferred financing fees amortization 61,770 63,133
Stock-based compensation 86,163 78,471
Deferred income taxes 3,049,226 500,201
Change in Operating Assets & Liabilities:    
(Increase) in accounts receivable (290,252) (1,263,032)
(Increase) Decrease in inventory (518,855) 144,096
(Increase) in prepaid expenses and other receivables (307,595) (459,831)
Decrease in prepaid income and refundable income tax 38,153 6,877
Decrease in other assets (80) 0
Increase (Decrease) in accounts payable and accrued liabilities 368,042 (456,161)
Increase (Decrease) in income tax payable 3,534 (20,000)
Net Cash (Used in) Operating Activities (977,765) (485,842)
Cash Flows from Investing Activities:    
Acquisition of plant and equipment (25,586) (39,506)
Purchase of intangible assets (4,390) 0
Net Cash (Used in) Investing Activities (29,976) (39,506)
Cash Flows from Financing Activities:    
Payment on line of credit, net (1,744,718) 0
Proceeds from notes payable, net 1,406,250 252,354
Proceeds from exercise of warrant 1,426,500 0
Payment of deferred financing fees (130,000) (1,813)
Net Cash Provided by Financing Activities 958,032 250,541
Net Decrease in Cash and Cash Equivalents (49,709) (274,807)
Cash and Cash Equivalents at Beginning of Period 140,243 309,280
Cash and Cash Equivalents at End of Period 90,534 34,473
Cash paid during the period for:    
Interest 304,715 274,238
Income taxes $ 5,075 $ 41,000

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