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Note Payable
6 Months Ended
May 31, 2025
Debt Disclosure [Abstract]  
Note Payable

Note 8 – Note Payable

 

During the six months ended May 31, 2025, the Company entered into a financing agreement for payment of D&O insurance. The total note is $102,953 for 10 months. During the six months ended May 31, 2025, the Company paid the downpayment of $15,058 and five monthly payments of $8,790 each. The note has an interest rate of 10.24%. At May 31, 2025, the remaining balance on the loan is $43,948.

 

During the fiscal year ended November 30, 2024, the Company entered into a Promissory Note with the former President and CEO who resigned on August 23, 2024 in the amount of $302,960 for payment of accumulated unpaid consultant fees. The note, which bears interest at 8%, is due and payable by October 30, 2025. During the six months ended May 31, 2025, the Company recorded $14,273 interest expense.