Trident Brands (TDNT) 10-Q 16 Jul 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	May 31, 2018	Jul. 16, 2018
Document And Entity Information
Entity Registrant Name	TRIDENT BRANDS INCORPORATED
Entity Central Index Key	1,421,907
Document Type	10-Q
Document Period End Date	May 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--11-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		32,311,887
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	May 31, 2018	Nov. 30, 2017
Current Assets
Cash and Cash Equivalents	$ 2,030,507	$ 3,143,788
Accounts Receivable, net of allowance of $129,403 and $29,852, respectively	891,850	1,071,576
Inventory	1,552,813	132,951
Prepaid and other current assets	187,929	236,528
Total Current Assets	4,663,099	4,584,843
Fixed Assets-Furniture & Fixtures, net	35,854	40,046
Note Receivable	625,553	617,010
Intangible Assets - Licenses, IP net	775,050	472,875
TOTAL ASSETS	6,099,556	5,714,774
Current Liabilities
Accounts Payable	1,583,305	1,388,393
Accrued Liabilities	2,140,901	1,454,770
Total Current Liabilities	3,724,206	2,843,163
Convertible Debt, net of discount $1,907,910 and $1,954,594, respectively	10,392,090	8,845,406
Total Liabilities	14,116,296	11,688,569
Stockholders' Deficit
Common stock, $0.001 par value, 300,000,000 shares authorized; 32,311,887 shares issued and outstanding as of May 31, 2018 and November 30, 2017	32,312	32,312
Additional paid-in capital	9,294,040	7,869,962
Non-Controlling Interest in Subsidiary	(141,641)	(124,649)
Accumulated Deficit	(17,201,451)	(13,751,420)
Total Stockholders' Deficit	(8,016,740)	(5,973,795)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	$ 6,099,556	$ 5,714,774

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	May 31, 2018	Nov. 30, 2017
Current Assets
Allowance for Accounts Receivable	$ 129,403	$ 29,852
Current Liabilities
Discount on Convertible Debt	$ 1,907,910	$ 1,954,594
Stockholders' Deficit
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	32,311,887	32,311,887
Common stock, shares outstanding	32,311,887	32,311,887

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Consolidated Statements Of Operations
Revenues	$ 1,630,933	$ 11,302	$ 3,492,633	$ 27,989
Cost of Sales	1,517,312	5,911	3,322,107	15,116
Gross Profit	113,621	5,391	170,526	12,873
General & Administrative Expenses	(1,028,030)	(740,474)	(2,672,171)	(1,466,673)
Loss from Operations	(914,409)	(735,083)	(2,501,645)	(1,453,800)
Other Income (Expenses)
Interest Expense, net	(501,790)	(304,958)	(965,378)	(558,690)
Total Other Income (Expenses)	(501,790)	(304,958)	(965,378)	(558,690)
Net Loss	(1,416,199)	(1,040,041)	(3,467,023)	(2,012,490)
Net loss attributable to Trident	(1,412,836)	(1,030,750)	(3,450,031)	(1,992,437)
Net loss attributable to Non-Controlling Interests	$ (3,363)	$ (9,291)	$ (16,992)	$ (20,053)
Loss per share - Basic and diluted	$ (0.05)	$ (0.03)	$ (0.11)	$ (0.06)
Weighted average number of common shares outstanding - Basic and diluted	32,311,887	31,000,000	32,311,887	31,000,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	May 31, 2018	May 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,467,023)	$ (2,012,490)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount	546,684	272,057
Amortization of license, IP	24,250	150,000
Depreciation expense	4,192
Stock options expense	924,078	24,211
Changes in operating assets and liabilities:
Accounts Receivable	179,726
Interest Receivable	(8,543)
Prepaid expenses	48,599	(86,688)
Inventory	(1,419,862)	(19,224)
Accounts payable and accrued liabilities	681,043	372,891
Cash used in operating activities	(2,486,856)	(1,299,243)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Intangible Assets	(126,425)
Cash provided by investing activities	(126,425)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on loan payable - third party		(200,000)
Proceeds on convertible debt	1,500,000	4,400,000
Cash provided by financing activities	1,500,000	4,200,000
Net change in cash	(1,113,281)	2,900,757
Cash at beginning of period	3,143,788	1,527,624
Cash at end of period	2,030,507	4,428,381
NON-CASH TRANSACTIONS
Unpaid intangible asset acquired	200,000
Beneficial conversion feature	500,000	1,466,667
Cash paid for:
Income taxes
Interest		$ 20,083

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS	Trident Brands Incorporated (f/k/a Sandfield Ventures Corp.) (“we”, “our”, “the Company”) was incorporated under the laws of the State of Nevada on November 5, 2007. The Company was formed to engage in the acquisition, exploration and development of natural resource properties. The Company is now focused on the development of high growth branded and private label consumer products and ingredients within the nutritional supplement, life sciences and food and beverage categories. The Company is in its early growth stage and has transitioned out of its shell status with the Super-8 filing at the end of August, 2014. Activities to date have focused on capital formation, organizational development and execution of its branded and private label consumer products and ingredients business plan.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The accompanying unaudited interim financial statements of Trident Brands Incorporated have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in Trident’s Form 10-K filed with SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2017 as reported in the Form 10-K have been omitted. Customer Concentration The Company has one major customer that accounted for approximately 96.9% and $3,383,956 of sales for the six month period ended May 31, 2018 and 91.1% of the accounts receivable. Two customers accounted for 94.3% and 3.7% of total sales and 82.3% and 16.4% of total accounts receivable for the prior period ended November 30, 2017. Reclassification Certain prior period amounts have been reclassified to conform with current period presentation. These reclassifications have no impact on net loss.

LIQUIDITY

LIQUIDITY	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 3. LIQUIDITY	On September 26, 2016, the Company completed a long term financing with a non-US institutional investor, receiving proceeds of $4,100,000, $4,400,000 on May 9, 2017 and $1,500,000 on May 16, 2018 through the issuance of secured convertible promissory notes. As of May 31, 2018, the Company had $2,030,507 in cash. We believe that our present financial resources will be sufficient to meet the Company’s obligations and fund our operations at least through the next twelve months from the date these financial statements are issued.

WARRANTS AND OPTIONS

WARRANTS AND OPTIONS	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 4. WARRANTS AND OPTIONS	On December 6, 2017, our Board of Directors authorized the issuance to its members and management stock options to purchase up to 2,615,000 share of our common stock. 1,307,500 of the options vest upon issuance and are exercisable for up to five years at $0.85 per share, while the remaining 1,307,500 will vest 12 months following issuance and be exercisable for up to five years at $1.00 per share. The Options were issued pursuant to the Company’s 2013 Stock Option Plan, which was registered with the Securities and Exchange Commission on Form S-8 in January, 2015. The 2013 Stock Option Plan authorizes Trident to issue incentive and non-qualified stock options to employees and consultants of the Company to purchase a number of shares not to exceed 15% of the Company’s currently issued and outstanding securities. The total outstanding stock options as of May 31, 2018 are 4,640,000. The Company used the Black-Scholes model to value the stock options at $1,107,836. For the six months ended May 31, 2018, the Company expensed $924,078 as compensation expense compared to $24,211 in the previous comparable period. Following are the assumptions used for the options that vested immediately and 12 months from the date of issuance: Discount rate 1.60% and 2.10%; Volatility 85.51% and 79.75%; and Term 2.5 and 3.0 years. The following table represents stock option activity for the six months ended May 31, 2018: Number of Options Weighted Average Exercise Price Contractual Life in Years Intrinsic Value Outstanding - November 30, 2017 2,025,000 $ 0.96 1.43 Exercisable - November 30, 2017 2,025,000 $ 0.96 1.43 Granted 2,615,000 $ 1.08 4.52 Exercised or Vested -0- Cancelled or Expired -0- Outstanding - May 31, 2018 4,640,000 $ 1.02 2.95 Exercisable - May 31, 2018 3,332,500 $ 1.03 2.34 $342,067 On December 6, 2017, the Board of Directors authorized the issuance of 250,000 stock options of Brain Armor to Sanitas, LLC, a consultant and founding shareholder of Brain Armor. The options vest immediately and are exercisable for a period of five (5) years to purchase common shares of Brain Armor at $0.75 per share. The total outstanding Brain Armor stock options as of May 31, 2018 are 250,000. The Company used the Black-Scholes model to value the stock options at $95,814. The assumption used was a discount rate of 1.60%, volatility of 85.51% and term of 2.5 years. The total outstanding warrants as of May 31, 2018 are 225,000. The exercise price of the warrants are $1.35 with a term of 3 years and vested immediately. The Company used the Black-Scholes model to value the warrants. Following are the assumptions used: Discount rate .9%; Volatility 76.25% and 77.30% respectively. The following table represents warrant activity for the six months ended May 31, 2018: Number of Warrants Weighted Average Exercise Price Contractual Life in Years Intrinsic Value Outstanding – November 30, 2017 225,000 $ 1.35 1.20 Exercisable - November 30, 2017 -0- Granted -0- Exercised or Vested -0- Cancelled or Expired -0- Outstanding – May 31, 2018 225,000 $ 1.35 0.70

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 5. RELATED PARTY TRANSACTIONS	The Company neither owns nor leases any real or personal property. The Company is paying a director $750 per month rent for use of office space and services.

ACQUISITION OF STREAMPAK

ACQUISITION OF STREAMPAK	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 6. ACQUISITION OF STREAMPAK	On September 12, 2017 we entered into a Share Purchase Agreement dated September 6, 2017 among our wholly owned subsidiary, Trident Brands International Ltd. (“Trident International”), a Bahamas corporation, StreamPak Ltd. (“StreamPak”), an Anguilla corporation, and the sole shareholder of StreamPak, pursuant to which, in consideration for the payment of $125,000 in cash and 500,000 of our common shares valued at $360,000 based on our stock price on September 6, 2017, Trident International purchased 100% of the issued and outstanding common shares of StreamPak. As a result of the share purchase StreamPak became a wholly owned subsidiary of Trident International. The acquisition was not deemed an acquisition of a business but rather an acquisition of a finite-lived intangible asset. The total consideration of $485,000 was recognized as an intangible asset related to intellectual property with an estimated useful life of 10 years. As of May 31, 2018, $36,375 was amortized of which $24,250 was amortized during the current six month period and $12,125 in the prior period. The unamortized amount is $448,625.

NOTE RECEIVABLE

NOTE RECEIVABLE	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 7. NOTE RECEIVABLE	On September 12, 2017 the Company entered into a note purchase agreement with Fengate Trident LP (“Fengate”) pursuant to which, in consideration for the issuance of 811,887 of our common shares to Fengate, we purchased outstanding secured convertible promissory notes of Mycell Technologies LLC (“Mycell”) having an aggregate balance due and payable of $511,141 in principal and $77,721 in interest accrued as at September 12, 2017. The purchased notes, which were originally issued to LPF (MCTECH) Investment Corp. on January 22, 2016 ($170,380), February 5, 2016 ($170,380), and May 19, 2016 ($170,381), bear simple interest on unpaid principal at the rate of ten percent per annum. The outstanding principal and accrued interest is convertible at the option of the note holder into securities of Mycell. The accrued interest as at May 31, 2018 is $114,412.

CONVERTIBLE NOTES

CONVERTIBLE NOTES	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 8. CONVERTIBLE NOTES	On January 29, 2015, the Company entered into a securities purchase agreement with a non-US institutional investor whereby it agreed to sell an aggregate principal amount of $2,300,000 of senior secured convertible debentures, convertible into shares of the company’s common stock. The Company received $1,800,000 of the funds from the transaction on February 5, 2015. The balance of $500,000 was received on May 14, 2015. The convertible debentures are convertible into shares of the Company’s common stock at an initial conversion price of $0.71 per share, for an aggregate of up to 3,239,437 shares. The debentures originally accrued interest at 6% per annum. On September 26, 2016 the Company entered into an amendment agreement related to these convertible debentures whereby the applicable interest rate was increased from 6% to 8% and provisions added to allow the investor to transfer, sell or hypothecate the convertible notes subject to applicable securities laws. The maturity date of the notes was also extended through September 30, 2019. We considered ASC Topic 470-50, Debt Modifications and Extinguishments, and determined that the modification was not deemed substantial, consequently, extinguishment accounting does not apply. Due to the note being convertible to common shares of the Company, a beneficial conversion feature analysis was performed. The intrinsic value of the conversion feature was $647,888 which was recognized as debt discount. As of May 31, 2018, the full amount of the debt discount has been amortized. On September 26, 2016, the Company entered into a securities purchase agreement with a non-US institutional investor, pursuant to which, in consideration for proceeds of $4,100,000, the Company issued a secured convertible promissory note in the amount of $4,100,000. Pursuant to the securities purchase agreement, the investor has agreed, from time to time after January 1, 2017, to make additional investments at the Company’s request of up to $5,900,000 ($10,000,000 in the aggregate) in one or more tranches of not less than one tranche during any 60 day period. The funding of any tranche under the agreement (other than the first $4,100,000 which has been funded) is subject to the mutual agreement of the parties as to the use of funds. On May 9, 2017, the Company received the second tranche of funding with proceeds of $4,400,000 and on May 16, 2018 the third tranche of $1,500,000 for a total investment by the investor of $10,000,000. The Company used the proceeds of the secured convertible note for general working capital purposes including settlement of accounts payable and repayment of mature loans. In consideration of each advance made by the investor pursuant to the securities purchase agreement, the Company issued to the investor a convertible promissory note of equal value, maturing three years after issuance, and bearing interest at the rate of 8% per annum. Each note will be secured in first priority against the present and after acquired assets of the Company and is convertible in whole or in part at the option of the holder into common shares of the Company at a conversion price of $0.60 per share, for an aggregate of up to 16,666,667 shares. Due to the notes being convertible to common shares of the Company, a beneficial conversion feature analysis was performed. The intrinsic value of the conversion feature of the notes amounted to $3,333,334 and was recognized as a debt discount. As of May 31, 2018, $1,425,423 of the debt discount was amortized to interest of which $546,684 was amortized during the current six month period and $878,740 in prior years. The unamortized discount as of May 31, 2018 is $1,907,910. The Company analyzed the embedded conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the conversion option should be classified as equity.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 9. INTANGIBLE ASSETS	On December 22, 2017, Trident exercised its option under our Exclusive License Agreement (dated March 1, 2015) to purchase the Brain Armor® brand from DSM Nutrition Products LLC (“DSM”). Subsequently, the parties have executed applicable trademark assignment and purchase agreements necessary to transfer all global intellectual property rights in the Brain Armor brand to Trident. In lieu of a $400,000USD cash payment to DSM for the value of the Brain Armor® brand as initially intended, the Company agreed to meet certain conditions, that when satisfied will have an equivalent value of $400,000USD. The costs incurred to meet these conditions are being charged to intangible assets. As of May 31, 2018, the Company has recorded $326,425 of costs to the asset account. Of this amount $200,000 will be paid over time as the Company purchases omega-3 oil from DSM pursuant to its exclusive supply agreement. During the quarter ended May 31, 2018, a payment of $7,200 was made to DSM in connection with this liability.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	May 31, 2018
Notes to Financial Statements
NOTE 10. SUBSEQUENT EVENTS	On June 13, 2018, Trident was accepted into the Wal-Mart Supplier finance program with Wells Fargo Bank. The program offers receivables discounting. The interest rate is based on the corresponding LIBOR-90 day rate (currently 2.17%) plus 1.00%.

SUMMARY OF SIGNIFICANT ACCOUN16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Polocies)	6 Months Ended
	May 31, 2018
Summary Of Significant Accounting Policies
Basis of Presentation	The accompanying unaudited interim financial statements of Trident Brands Incorporated have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in Trident’s Form 10-K filed with SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2017 as reported in the Form 10-K have been omitted.
Customer Concentration	The Company has one major customer that accounted for approximately 96.9% and $3,383,956 of sales for the six month period ended May 31, 2018 and 91.1% of the accounts receivable. Two customers accounted for 94.3% and 3.7% of total sales and 82.3% and 16.4% of total accounts receivable for the prior period ended November 30, 2017.
Reclassification	Certain prior period amounts have been reclassified to conform with current period presentation. These reclassifications have no impact on net loss.

WARRANTS AND OPTIONS (Tables)

WARRANTS AND OPTIONS (Tables)	6 Months Ended
	May 31, 2018
Warrants And Options
Schedule of stock option activity	The following table represents stock option activity for the six months ended May 31, 2018: Number of Options Weighted Average Exercise Price Contractual Life in Years Intrinsic Value Outstanding - November 30, 2017 2,025,000 $ 0.96 1.43 Exercisable - November 30, 2017 2,025,000 $ 0.96 1.43 Granted 2,615,000 $ 1.08 4.52 Exercised or Vested -0- Cancelled or Expired -0- Outstanding - May 31, 2018 4,640,000 $ 1.02 2.95 Exercisable - May 31, 2018 3,332,500 $ 1.03 2.34 $342,067
Schedule of warrant activity	The following table represents warrant activity for the six months ended May 31, 2018: Number of Warrants Weighted Average Exercise Price Contractual Life in Years Intrinsic Value Outstanding – November 30, 2017 225,000 $ 1.35 1.20 Exercisable - November 30, 2017 -0- Granted -0- Exercised or Vested -0- Cancelled or Expired -0- Outstanding – May 31, 2018 225,000 $ 1.35 0.70

ORGANIZATION AND DESCRIPTION 18

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	6 Months Ended
	May 31, 2018
Organization And Description Of Business
Date of incorporation	Nov. 5, 2007
State of incorporation	Nevada

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	May 31, 2018	Nov. 30, 2017
One major customer [Member] | Trade Accounts Receivable [Member]
Concentration risk percentage	91.10%	82.30%
One major customer [Member] | Sales [Member]
Concentration risk percentage	96.90%	94.30%
Sales	$ 3,383,956
Two major customer [Member] | Trade Accounts Receivable [Member]
Concentration risk percentage		16.40%
Two major customer [Member] | Sales [Member]
Concentration risk percentage		3.70%

LIQUIDITY (Details Narrative)

LIQUIDITY (Details Narrative) - USD ($)	May 09, 2017	May 16, 2018	Sep. 26, 2016	May 31, 2018	May 31, 2017	Nov. 30, 2017	Nov. 30, 2016
Proceeds from convertible promissory notes				$ 1,500,000	$ 4,400,000	$ 4,400,000
Cash				2,030,507	$ 4,428,381	$ 3,143,788	$ 1,527,624
Investor [Member]
Proceeds from convertible promissory notes	$ 4,400,000	$ 1,500,000	$ 4,100,000
Additional funding amount			1,500,000
Aggregate amount of promissory note			$ 10,000,000
Cash				$ 2,030,507

WARRANTS AND OPTIONS (Details)

WARRANTS AND OPTIONS (Details)	6 Months Ended
	May 31, 2018USD ($)$ / sharesshares
Number of Options
Outstanding – November 30, 2017	2,025,000
Exercisable - November 30, 2017	2,025,000
Granted	2,615,000
Exercised or Vested	0
Cancelled or Expired	0
Outstanding - May 31, 2018	4,640,000
Exercisable - May 31, 2018	3,332,500
Weighted Average Exercise Price
Outstanding - November 30, 2017 | $ / shares	$ 0.96
Exercisable - November 30, 2017 | $ / shares	0.96
Granted | $ / shares	1.08
Outstanding - May 31, 2018 | $ / shares	1.02
Exercisable - May 31, 2018 | $ / shares	$ 1.03
Outstanding Contractual Life in November 30, 2017	1 year 5 months 5 days
Exercisable Life in November 30, 2017	1 year 5 months 5 days
Granted Contractual Life in Years	4 years 6 months 7 days
Outstanding Contractual Life in May 31, 2018	2 years 11 months 12 days
Exercisable Life in May 31, 2018	2 years 4 months 2 days
Exercisable Intrinsic Value | $	$ 342,067

WARRANTS AND OPTIONS (Details 1

WARRANTS AND OPTIONS (Details 1)	6 Months Ended
	May 31, 2018$ / sharesshares
Warrants And Options Details 1Abstract
Outstanding - November 30, 2017	225,000
Exercisable - November 30, 2017	0
Granted	0
Exercised or Vested	0
Cancelled or Expired	0
Outstanding - May 31, 2018	225,000
Weighted Average Exercise Price Outstanding - November 30, 2017 | $ / shares	$ 1.35
Weighted Average Exercise Price Outstanding - May 31, 2018 | $ / shares	$ 1.35
Contractual Life in Years Outstanding - November 30, 2017	1 year 2 months 12 days
Contractual Life in Years Outstanding - May 31, 2018	8 months 12 days

WARRANTS AND OPTIONS (Details N

WARRANTS AND OPTIONS (Details Narrative) - USD ($)	Dec. 06, 2017	May 31, 2018	May 31, 2017	Nov. 30, 2017
Outstanding stock options		4,640,000		2,025,000
Value of stock option		$ 1,107,836
Compensation expense		$ 924,078	$ 24,211
Immediately [Member]
Fair value assumption model used			Black-Scholes model
Discount rate			1.60%
Volatility			85.51%
Term			2 years 6 months
12 months [Member]
Fair value assumption model used			Black-Scholes model
Discount rate			2.10%
Volatility			79.75%
Term			3 years
Warrants [Member]
Outstanding stock options		225,000
Exercise price		$ 1.35
Fair value assumption model used		Black-Scholes model
Discount rate		0.90%
Term		3 years
Maximum [Member] | Warrants [Member]
Volatility		77.30%
Minimum [Member] | Warrants [Member]
Volatility		76.25%
Brain Armor [Member]
Outstanding stock options		250,000
Value of stock option		$ 95,814
Discount rate		1.60%
Volatility		85.51%
Term		2 years 6 months
Warrants and options vesting description	The options vest  immediately and are exercisable for a period of five (5) years to purchase common shares of Brain Armor at $0.75 per share.
Issuance of stock option	250,000
Board of Directors [Member] | Common Stock [Member] | Maximum [Member]
Stock options to purchase shares	2,615,000
Options vest upon issuance and exercisable	1,307,500
Warrants and options vesting description	Up to five years at $0.85 per share, while the remaining 1,307,500 will vest 12 months following issuance and be exercisable for up to five years at $1.00 per share. The Options were issued pursuant to the Company’s 2013 Stock Option Plan, which was registered with the Securities and Exchange Commission on Form S-8 in January, 2015. The 2013 Stock Option Plan authorizes Trident to issue incentive and non-qualified stock options to employees and consultants of the Company to purchase a number of shares not to exceed 15% of the Company’s currently issued and outstanding securities.

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	6 Months Ended
	May 31, 2018USD ($)
Director [Member]
Rent paid per month	$ 750

ACQUISITION OF STREAMPAK LTD (D

ACQUISITION OF STREAMPAK LTD (Details Narrative) - USD ($)	Sep. 12, 2017	May 31, 2018	May 31, 2018	May 31, 2017	Nov. 30, 2017
Amortization amount		$ 36,375	$ 24,250	$ 150,000	$ 12,125
Unamortized amount		$ 448,625	$ 448,625
Stream Pak Ltd [Member] | Share Purchase Agreement [Member]
Purchase price in cash	$ 125,000
Common stock issued for acquisition (in shares)	500,000
Common stock issued for acquisition	$ 360,000
Percentage of issued and outstanding common shares aquired	100.00%
Amount of total consideration	$ 485,000
Estimated useful life	10 years

NOTE RECEIVABLE (Details Narrat

NOTE RECEIVABLE (Details Narrative) - Note Purchase Agreement [Member] - USD ($)	Sep. 12, 2017	May 31, 2018	May 19, 2016	Feb. 05, 2016	Jan. 22, 2016
Mycell Technologies Llc [Member]
Common stock issued for purchase of secured convertible promissory notes (in shares)	811,887
Amount payable in principal	$ 511,141
Amount payable in interest	$ 77,721
Percentage of simple interest on unpaid principal		10.00%
Accrued interest		$ 114,412
LPF (MCTECH) Investment Corp. [Member]
Notes payable purchased under agreement originally issued by Mycell Technologies to related party			$ 170,381	$ 170,380	$ 170,380

CONVERTIBLE NOTES (Details Narr

CONVERTIBLE NOTES (Details Narrative) - USD ($)	May 09, 2017	May 14, 2015	Feb. 05, 2015	May 31, 2018	May 16, 2018	Sep. 26, 2016	Jan. 29, 2015	May 31, 2018	May 31, 2017	Nov. 30, 2017	Dec. 02, 2017
Proceeds on convertible debt								$ 1,500,000	$ 4,400,000	$ 4,400,000
Amount of intrinsic value recognized as debt discount								500,000	1,466,667	1,466,667
Amortization of debt discount								546,684	$ 272,057	806,721
Conversion price (in dollars per share)											$ 0.75
Securities Purchase Agreement [Member] | Convertible Debt [Member]
Principal amount of debt	$ 10,000,000						$ 2,300,000
Proceeds on convertible debt		$ 500,000	$ 1,800,000			$ 4,100,000
Common stock conversion, shares						16,666,667	3,239,437
Percentage of interest rate							6.00%
Amount of intrinsic value recognized as debt discount						$ 3,333,334	$ 647,888
Amortization of debt discount				$ 1,425,423						797,909
Unamortized debt discount				1,907,910				1,907,910
Amortized to interest				$ 546,684				$ 546,684		$ 878,740
Maturity date of notes						Sep. 30, 2019
Proceeds from promissory note						$ 4,100,000
Additional funding amount						5,900,000
Aggregate amount of promissory note						$ 10,000,000
Conversion price (in dollars per share)						$ 0.60	$ 0.71
Securities Purchase Agreement [Member] | Convertible Debt [Member] | Second tranche [Member]
Proceeds on convertible debt	$ 4,400,000
Securities Purchase Agreement [Member] | Convertible Debt [Member] | Third tranche [Member]
Proceeds on convertible debt					$ 1,500,000
Securities Purchase Agreement [Member] | Convertible Debt [Member] | Minimum [Member]
Percentage of interest rate							6.00%
Securities Purchase Agreement [Member] | Convertible Debt [Member] | Maximum [Member]
Percentage of interest rate							8.00%

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 22, 2017	May 31, 2018	May 31, 2018	May 31, 2017
Intangible Asset		$ 326,425	$ 326,425
Unpaid intangible asset acquired			$ 200,000
DSM Nutrition Products LLC [Member]
Cash payment in lieu of intellectual property transferred	$ 400,000	$ 7,200

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	Jun. 13, 2018
Subsequent Event [Member]
Interest rate description	The interest rate is based on the corresponding LIBOR-90 day rate (currently 2.17%) plus 1.00%.