Accounts Payable and Accrued Expenses

12 Months Ended

Nov. 30, 2012

Accounts Payable and Accrued Expenses [Abstract]

Accounts Payable and Accrued Expenses

11.       Accounts Payable and Accrued Expenses

	2012		2011
Trade payables	$	813,962	$	996,151
Payable from sale of subsidiaries		796,499		796,499
Customer deposits		136,912		135,912
Due to investor		-		100,000
Other, individually less than 5% of current liabilities		549,869		521,610
	$	2,297,242	$	2,550,172

When the Company sold certain subsidiaries in December 2006, the Company agreed to reimburse the purchaser for certain disputed claims on the books of the subsidiaries, if the sold subsidiaries were required to pay such claims.  At November 30, 2012 and 2011, the Company has recorded a payable of $796,499 in conjunction with the sale of the subsidiaries. The subsidiary filed for bankruptcy on September 23, 2008, which is still ongoing. If claims are reduced or eliminated by the subsidiaries, and the purchaser provides the Company with appropriate documentation that the Company’s liability has been reduced, such reduction will be reflected on the books of the Company.

In the fourth quarter of fiscal 2011, the Company received $100,000 from an investor pursuant to a stock subscription agreement whereby the Company is required to either issue 5,000,000 shares to the investor or refund to the investor the amount received. In fiscal 2012 the Company received an additional $493,745 from the same investor and on October 4, 2012 the Company issued and sold an aggregate of 29,687,250 shares of common stock at a purchase price of $0.02 per share in exchange for the aggregate proceeds of $593,745.

The Company reversed accounts payable amounting to $172,768, which is included in the income statement under the caption of other income, net, to reflect a reversal of unpaid invoices which the Company determined were no longer payable.