XML 34 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
May 31, 2013
May 31, 2012
Operating activities:    
Net income $ 1,876,233 $ 4,385,498
Adjustments to reconcile net income to net cash used in operating activities:    
Non-cash stock based compensation 13,441 112,545
Provision for bad debts 3,660 3,166
Non-cash financing expense 7,622 260,804
Reversal of payables    (32,100)
Gain on troubled debt restructuring (2,714,461) (6,338,601)
Amortization of debt discount 304,767 1,494,656
Gain on settlement of liabilities    (314,481)
Mark to market adjustment of derivative liabilities (125,666) (135,681)
Changes in operating assets and liabilities:    
Accounts receivable 648 27,169
Prepaid expenses and other current assets (2,909) 1,719
Other assets (1,931) 5,547
Accounts payable, other current liabilities and pension related liabilities 187,773 (29,634)
Net cash used in operating activities: (450,823) (559,393)
Cash flows from financing activities:    
Repayment of short-term and long-term debt    (114,515)
Proceeds from short-term borrowing 448,000 118,000
Repayment of short-term borrowing (7,333)   
Proceeds from stock subscription    472,745
Proceeds from issuance of stock    87,255
Net cash provided by financing activities 440,667 563,485
Increase (decrease) in cash and cash equivalents (10,156) 4,092
Cash and cash equivalents at beginning of period 12,366 9,608
Cash and cash equivalents at the end of period $ 2,210 $ 13,700