Segment Information

12 Months Ended

Nov. 30, 2015

Segment Reporting [Abstract]

Segment Information

 15. Segment Information

We determined our reporting units in accordance with ASC 280, “Segment Reporting” (“ASC 280”). We evaluate a reporting unit by first identifying its operating segments under ASC 280. We then evaluate each operating segment to determine if it includes one or more components that constitute a business. If there are components within an operating segment that meet the definition of a business, we evaluate those components to determine if they must be aggregated into one or more reporting units. If applicable, when determining if it is appropriate to aggregate different operating segments, we determine if the segments are economically similar and, if so, the operating segments are aggregated.

The Company’s operations during the year ended November 30, 2015 are classified into two reportable business segments: Telecom and cannabis-related activities. The Company operated in one business segment in fiscal 2014. Each of these segments is organized based upon the nature of products and services offered. Summarized financial information for fiscal 2015 for each segment is provided below:

	Corporate			Telecom			Cannabis			Total
Total Assets	$	63,738		$	221,815		$	158,990		$	444,543
Revenue	$	—		$	1,822		$	603,131		$	604,953
Costs of sales		—			1,275			455,931			457,206
Depreciation/amortization expense		—			—			6,699			6,699
Operating expenses - other		414,538			(6,426	)		358,295			766,407
Gain on extinguishment of debt		2,328,876			—			—			2,328,876
Amortization of deferred finance costs		(5,305	)		—			—			(5,305	)
Interest expense		(1,050,304	)		(1,542	)		(362,183	)		(1,414,029	)
Change in fair value of derivatives		(2,264,449	)		—			—			(2,264,449	)
Impairment  of assets		(1,393,690	)		(220,000	)		—			(1,613,690	)
Other income		2,961			—			—			2,961
Troubled debt restructuring gain		3,868,321			—			—			3,868,321
Net income (loss)		1,071,872			(214,569	)		(579,977	)		277,326
Loss attributable to noncontrolling interest		—			—			208,396			208,396
Net income (loss) – Pervasip Corp.	$	1,071,872		$	(214,569	)	$	(371,581	)	$	485,722