XML 56 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended
May 31, 2014
May 31, 2013
Cash flow from operating activities:    
Net loss for the period $ (3,048,284) $ (2,883,143)
Adjustments to reconcile net loss to net cash provided by (used in) operations    
Depreciation and amortization 222,197 243,695
Stock-based compensation 95,749 66,633
Unrealized foreign exchange gain (40,357) (76,193)
Deferred financing fees amortization 42,715 22,583
Accrued interest 90,623 81,641
Bad debts 35,662 0
Issuance of common stock/units for consulting services 371,854 0
Changes in operating assets and liabilities:    
Accounts receivable 982,617 (113,432)
Inventories 551,335 97,173
Prepaid expenses and deposits (240,184) (15,756)
Accounts payable and accrued liabilities (1,012,596) 440,132
Customer deposits 919 0
Net cash used in operating activities (1,947,750) (2,136,667)
Cash flows from investing activities:    
Additions to property, plant and equipment (90,027) (351,828)
Additions to intangible assets 0 (191)
Net cash used in investing activities (90,027) (352,019)
Cash flows from financing activities:    
Repayment of credit facility (1,019,513) 0
Advances from short-term loans 135,705 385,800
Repayments of short term loans (269,401) 0
Advances from related parties and others 172,000 519,258
Repayments to related parties and others (33,835) 0
Issuance of common stock/units under private placement (net of issuance costs) 6,812,963 1,369,390
Issuance of common stock/units for cash 100,000 0
Issuance of common stock upon conversion of placement agent warrants 14,000 0
Net cash provided by financing activities 5,911,919 2,274,448
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS 3,874,142 (214,238)
Cash and cash equivalents, beginning of period 174,084 402,724
CASH AND CASH EQUIVALENTS, END OF PERIOD 4,048,226 188,486
Supplemental disclosures of cash flow information, cash paid:    
Interest paid 216,674 171,723
Common shares issued as repayment of loan $ 128,000 $ 0