Income Taxes

9 Months Ended

Aug. 31, 2011

Notes to Financial Statements

Income Taxes

At November 30, 2010, we had net operating loss carryforwards for federal income tax purposes of approximately $37,900,000 that expire in the years 2011 through 2030. We have provided an allowance for the full value of the related deferred tax asset since it is more likely than not that none of such benefit will be realized. Utilization of the net operating losses may be subject to annual limitation provided by Section 382 of the Internal Revenue Code and similar state provisions.