Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Feb. 28, 2015

Property, Plant and Equipment [Abstract]

The components of property and equipment consisted of the following:



	February 28, 2015		November 30, 2014
Furniture and equipment	672,477		672,477
Tools, dies and masters	454,912		449,862
Transportation equipment	16,538		16,538
Capitalized lease obligations	41,326		41,326
Leasehold improvements	1,054,363		1,054,365
	$	2,239,616	$	2,234,568
Less: Accumulated depreciation	1,183,273		1,125,968
Property and Equipment—Net	$	1,056,343	$	1,108,600

Depreciation expense for the three months ended February 28, 2015 and February 28, 2014 amounted to $57,305 and $81,389, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details