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Accounts Payable and Accrued Expenses
3 Months Ended
Aug. 31, 2012
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Expenses

Note 8 – Accounts Payable and Accrued Expenses

When we sold certain subsidiaries in December 2006, we 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 August 31, 2012 and November 30, 2011, we have recorded a payable of $796,499 in conjunction with the sale of the subsidiaries. If claims are reduced or eliminated by the subsidiaries, and the purchaser provides us with appropriate documentation that the Company’s liability has been reduced, such reduction will be reflected on our books.

At August 31, 2012 and November 30, 2011 we owed an investor $593,745 and $100,000, respectively, pursuant to a stock subscription agreement (the “Private Placement”) whereby we were required to either issue shares of restricted common stock to the investor at a price of $0.02 per share or refund to the investor the amount received. On October 4, 2012, we completed the Private Placement and issued 29,687,250 shares of restricted common stock to the investor to settle the obligation.