Income Taxes

12 Months Ended

Nov. 30, 2015

Notes

Income Taxes

7.                  INCOME TAXES

The provision for income taxes for the years ended November 30, 2015 and 2014 consisted of the following:

			2015			2014
Current	$			457,922	$		264,553
Deferred		-				-
	$			457,922	$		264,553

No provision for income taxes in the United States has been made.  The Company did not generate any income in the United States or otherwise have any U.S. taxable income. The Company does not believe that it has any U.S. Federal income tax liabilities with respect to any transactions that the Company or any of its subsidiaries may have engaged in through November 30, 2015.  However, there can be no assurance that the IRS will agree with this position, and therefore the Company ultimately could be liable for U.S. Federal income taxes, interest and penalties.