XML 56 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consoldiated Statements of Cash Flows (USD $)
9 Months Ended
Aug. 31, 2014
Aug. 31, 2013
Operating activities:    
Net income (loss) $ (439,397) $ 656,535
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Stock-based compensation 19,937 20,161
Change in fair value of marketable securities (57,120)   
Amortization of debt discount 744,406 2,575,610
Amortization of financing costs 67,069 43,529
Gain on troubled debt restructuring    (2,714,461)
Gain on sale of subsidiary (640,180)  
Gain on settlement of liabilities (300,686) (1,493,608)
Change in fair value of derivative liabilities (456,915) 68,855
Changes in operating assets and liabilities:    
Accounts receivable 44,697 (2,850)
Marketable securities (12,000)   
Prepaid expenses and other current assets 10,575 (8,761)
Other assets (4,102) (95,338)
Accounts payable, other accrued liabilities 455,089 239,192
Accounts payable and accrued liabilities-related party 294,199 1,140
Due to Pension Benefit Guaranty Corporation 72,863 69,325
Net cash used in operating activities: (201,565) (640,671)
Cash flows from financing activities:    
Proceeds from borrowings 354,575 602,000
Principal payments of debt (163,008) (36,034)
Proceeds from exercise of stock warrants    68,000
Net cash provided by financing activities 191,567 633,966
Decrease in cash and cash equivalents (9,998) (6,705)
Cash and cash equivalents at beginning of period 17,242 12,366
Cash and cash equivalents at the end of period 7,244 5,661
Supplemental disclosure of cash flow information:    
Cash paid during the period for: Income taxes      
Cash paid during the period for: Interest 59,835 7,182
Non-cash financing transactions:    
Fair value of derivative liabilities to discount on debt 230,836 3,292,892
Conversion of accrued liabilities to debt 249,190   
Conversion of debt to equity 287,500 1,291,878
Conversion of embedded derivative liabilities to equity $ 300,920 $ 1,983,334