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Related Party Transactions
6 Months Ended
May. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions

Note 12 – Related Party Transactions

 

We paid fees to a third-party intellectual property development firm (the “Consultant”) for the six and three-month periods ended May 31, 2014 of $96,000 and $48,000, respectively. One of our former officers performed work for the Consultant, including the function of distributing such funds to appropriate vendors, for which he was not compensated. The fees for software development services performed by the Consultant were deemed to be operating costs.

 

At May 31, 2015 and November 30, 2014, we owed our chief executive officer $1,234,098 and $1,194,021, respectively, for loans he provided to the Company, unpaid salary and unpaid business expenses. During the first quarter of fiscal 2015, the Company settled $100,000 in outstanding payables to the chief executive officer of by issuing 10,000,000 shares each of the Company’s Series F and G preferred stock and 10 shares of the Company’s Series E stock.

 

For the six and three-month periods ended May 31, 2015, the Company’s Canalytix subsidiary generated revenues from GS Engineering of $65,000. An entity that possesses more than 10% voting control of the Company, as of May 31, 2015, also possessed voting control over GS Engineering.