Telco Cuba (SLDC) 10-Q/A 10 Jul 15 2015 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - May. 31, 2015 - USD ($)	Total
Document and Entity Information:
Entity Registrant Name	Telco Cuba, Inc..
Document Type	10-Q
Document Period End Date	May 31, 2015
Amendment Flag	true
Entity Central Index Key	1,427,644
Current Fiscal Year End Date	--11-30
Entity Common Stock, Shares Outstanding	40,438,136
Entity Public Float	$ 1
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Description	Amendment 1
Trading Symbol	sugo

BALANCE SHEETS

BALANCE SHEETS - USD ($)	May. 31, 2015	Nov. 30, 2014
CURRENT ASSETS:
Cash	$ 2	$ 2
TOTAL CURRENT ASSETS	2	2
MINERAL RIGHTS AND PROPERTIES
Working Interest in oil & gas property	800,000	800,000
Oil field equipment	1,200,000	1,200,000
TOTAL ASSETS	2,000,002	2,000,002
CURRENT LIABILITIES:
Accounts Payable, Current	99,982	101,390
Accrued Liabilities, Current	291,364	271,596
Accrued payroll	1,319,194	1,319,194
Convertible debentures	202,555	241,925
Notes payable	283,332	283,332
Due to former CEO	16,022	17,476
Due to Related Parties, Noncurrent	1,384	1,384
Derivative liability	192,123	192,123
TOTAL CURRENT LIABILITIES	2,405,956	2,428,420
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred A Stock	3	3
Preferred B Stock	85	88
Preferred C Stock to be issued	250	250
Common Stock	40,438	15,135
Additional paid-in capital	12,896,105	12,381,235
Accumulated Other Comprehensive Income (Loss), Net of Tax	7,475	4,612
Deficit accumulated during the exploration stage	(14,850,560)	(14,829,491)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	(1,905,954)	(2,428,418)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 2	$ 2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) - USD ($)	May. 31, 2015	Nov. 30, 2014
Balance Sheet (Parenthetical)
Working Interest in oil & gas property	$ 800,000	$ 800,000
Oil field equipment	1,200,000	1,200,000
Convertible debentures	202,555	241,925
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, authorized	500,000,000	500,000,000
Common Stock, issued	40,438,136	15,135,231
Common Stock, outstanding	40,438,136	15,135,231
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, authorized	1,000,000	1,000,000
Preferred A Stock, authorized	100,000	100,000
Preferred A Stock, issued	3,000	3,000
Preferred A Stock, outstanding	3,000	3,000
Preferred B Stock, authorized	100,000	100,000
Preferred B Stock, issued	84,500	87,500
Preferred B Stock, outstanding	84,500	87,500
Preferred C Stock, issued	250,000	250,000

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
OPERATING EXPENSES:
General and administrative		$ 96,101		$ 190,787
TOTAL OPERATING EXPENSES		96,101		190,787
OPERATING LOSS		(96,101)		(190,787)
INTEREST EXPENSE	$ 4,283	46,316	$ 21,068	92,030
Foreign exchange (gain) loss	148	748	(2,863)	(788)
NET LOSS	$ (4,431)	$ (143,165)	$ (18,205)	$ (282,029)
BASIC AND DILUTED - LOSS PER SHARE		$ (0.01)		$ (0.02)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and Diluted	36,450,778	15,135,231	27,717,344	15,135,231

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY	May. 31, 2015USD ($)
Stockholders Equity	$ (2,428,418)
Stockholders Equity	$ (1,905,954)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,431)	$ (143,165)	$ (18,205)	$ (282,029)
Accounts payable and accrued expenses			18,205	282,029
CASH - BEGINNING OF PERIOD			2	2
CASH - END OF PERIOD	$ 2	$ 2	2	$ 2
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Notes issued in connection with oil & gas acquistion			$ 40,670

Nature of Operations and Going

Nature of Operations and Going Concern	6 Months Ended
	May. 31, 2015
Notes
Nature of Operations and Going Concern	Nature of Operations and Going Concern Telco Cuba Inc., (Formerly CaerVision Global, Inc. fka American Mineral Group Minerals Inc.) (the "Company") was incorporated in the State of Nevada on August 10, 2007. On January 9, 2015, the outstanding shareholders of the Company voted to change the name of the Company from American Mineral Group, Inc. to CaerVision Global, Inc. in order to better reflect the planned change in the Company’s future operations. On January 26, 2015, the Company entered into a stock purchase definitive agreement with Vitall, Inc., a Delaware corporation, whereby the Company will issue 15,000,000 shares of common stock for 100% of the issued and outstanding capital of Vitall, Inc. On March 17, 2015, Vitall, Inc. terminated the merger agreement due to non-performance on the part of the Company. As a result, the name CaerVision Global, Inc. will be surrendered back to its original owner. In the fiscal year ended November 30, 2014 and 2013, the Company was engaged in the exploration, development, and acquisition of mineral properties. As a subsequent event to these financial statements herein, on June 12, 2015, the Company consummated a share exchange agreement with Amgentech Inc./Telco Cuba, Inc., a Florida corporation, whereby the Company will issue 75,000,000 shares of common stock previously issued to third parties in exchange for 100% of the issued and outstanding capital of Amgentech Inc./Telco Cuba, Inc. Amgentech Inc./Telco Cuba, Inc. will be the surviving entity and focus on opportunities in the Cuban telecommunications market. On June 15, 2015, the Company effectuated an amendment to its articles of incorporation to change its name from CaerVision Global, Inc. to Telco Cuba, Inc. On June 15, 2015, the Company effectuated an amendment to its articles of incorporation to appoint William Sanchez to the position of CEO, CFO, President, Treasurer and Secretary. In the same amendment to our articles of incorporation, Erwin Vahlsing Jr., Thomas J Craft Jr. and Frederick J Pucillo Jr., resigned their positions as officers and directors of the Company. The accompanying financial statements have been prepared on the basis of accounting principles applicable to a going concern; accordingly, they do not give effect to adjustment that would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and retire its liabilities in other than the normal course of business and at amounts different from those in the accompanying financial statements. As shown in the accompanying financial statements, the Company incurred a net loss of $21,068 for the six months ended May 31, 2015, and has an accumulated deficit of $14,850,560. Management plans to raise cash from public or private debt or equity financing, on an as needed basis and in the longer term, to generate revenues from the acquisition, exploration and development of mineral interests, if found. The Company's ability to continue as a going concern is dependent upon achieving profitable operations and/or upon obtaining additional financing. The outcome of these matters cannot be predicted at this time.

Accounting Principles

Accounting Principles	6 Months Ended
	May. 31, 2015
Notes
Accounting Principles	Significant Accounting Policies Accounting Principles The accounting and reporting policies of the Company conform to United States generally accepted accounting principles applicable to exploration stage enterprises. Reclassifications Certain prior year financial statement balances have been reclassified to conform to the current year presentation. These reclassifications had no effect on the recorded net loss. Recently Adopted Accounting Pronouncements Management does not believe that any recently issued but not yet effective accounting pronouncements if currently adopted would have a material effect on the accompanying financial statements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	May. 31, 2015
Notes
Fair Value Measurements	Fair Value Measurements Valuation Hierarchy ASC 820 establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following table provides the assets and liabilities carried at fair value measured on a recurring and non-recurring basis as of May 31, 2015 and November 30, 2014: Fair Value Measurements at May 31, 2015 Quoted prices Significant Total Carrying in active other Significant Value at markets observable unobservable May 31, 2014 (Level 1) inputs (Level 2) inputs (Level 3) Derivative liabilities $ 192,123 $ - $ - $ 192,123 Fair Value Measurements at November 30, 2014 Quoted prices Significant Total Carrying in active other Significant Value at markets observable unobservable November 30, 2014 (Level 1) inputs (Level 2) inputs (Level 3) Derivative liabilities $ 192,123 $ - $ - $ 192,123 The derivative liabilities are measured at fair value using quoted market prices and estimated volatility factors based on historical quoted market prices for the Company’s common stock, and are classified within Level 3 of the valuation hierarchy. The following is a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): May 31, 2015 November 30, 2014 Beginning balance $ 192,123 $ 192,123 Derivative liabilities recorded - - Derivative liabilities converted - - Unrealized gain attributable to the change in liabilities still held - - Ending balance $ 192,123 $ 192,123 The fair value of the derivative liability at May 31, 2015 and November 30, 2014, totaling $192,123, respectively, was calculated using the Black-Scholes Option Pricing model. Gains and losses (realized and unrealized) included in earnings (to change in fair value of derivative liability) for the three months ended May 31, 2015 and 2014, are reported in other expenses as follows: May 31, 2015 November 28, 2014 (Gain) Loss on derivative liabilities recorded during the period $ - $ - Debt discount attributable to derivative liabilities recorded - - Derivative liabilities converted during the period - - Unrealized gain attributable to the change in liabilities still held - - Net unrealized (gain) loss included in earnings $ - $ - The Company did not have any Level 1 or Level 2 assets or liabilities as of November 30, 2014 and 2013, and had Level 3 liabilities consisting of notes payable. The carrying amount of the notes payable at May 31, 2015 and November 30, 2014, approximate their respective fair value based on the Company’s incremental borrowing rate. Cash and cash equivalents include money market securities that are considered to be highly liquid and easily tradable as of May 31, 2015 and November 30, 2014, respectively. These securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within our fair value hierarchy. In addition, FASB ASC 825-10-25 Fair Value Option was effective at the time of adoption. ASC 825-10-25 expands opportunities to use fair value measurements in financial reporting and permits entities to choose to measure many financial instruments and certain other items at fair value. The Company did not elect the fair value options for any of its qualifying financial instruments.

Derivative Liabilities

Derivative Liabilities	6 Months Ended
	May. 31, 2015
Notes
Derivative Liabilities	Derivative Liabilities The fair value of the derivative liabilities was measured using the Black-Scholes option pricing model and the following assumptions: May 31, November 30, Date of 2015 2014 issuance $32,500 Debenture: Discount Rate – Bond Equivalent Yield 0.30% 0.30% 0.30% Annual rate of dividends - - - Volatility 347.18% 347.18% 319.58% Weighted Average life (months) 0 0 9 $40,000 Debenture: Discount Rate – Bond Equivalent Yield 0.30% 0.30% 0.30% Annual rate of dividends - - - Volatility 347.18% 347.18% 319.58% Weighted Average life (months) 0 0 9 $35,000 Debenture: Discount Rate – Bond Equivalent Yield 0.30% 0.30% 0.30% Annual rate of dividends - - - Volatility 347.18% 347.18% 262.42% Weighted Average life (months) 0 0 9 $174,530 Debenture: Discount Rate – Bond Equivalent Yield 0.30% 0.30% 0.30% Annual rate of dividends - - - Volatility 347.18% 347.18% 262.42% Weighted Average life (months) 0 0 6 Fair Value $ 192,123 $ 192,123 There were no new convertible debentures issued in the six months ended May 31, 2015 or in the fiscal year ended November 30, 2014. At May 31, 2015, the Company reevaluated the derivative liability based on the fair value assumptions for the convertible debt that it had entered into in previous years. As of May 31, 2015, the derivative liability remained the same during the year then ended due to the conversion threshold being equivalent at this reporting date as compared to the previous fiscal year end.

Notes Payable

Notes Payable	6 Months Ended
	May. 31, 2015
Notes
Notes Payable	Notes Payable For the years ended November 30, 2014 and 2013, the Company borrowed $200 and $21,888, respectively, from a non-affiliated accredited investor. The Notes carry interest at a rate of 15% per year and are due on demand. The Company raised $0 and $359 in demand notes to from its CFO during the fiscal years ended November 30, 2014 and 2013, respectively. Between December 2011 and November 2012, the Company borrowed $108,700 from a non-affiliated accredited investor. The Notes carry interest at a rate of 15% per year and are due on demand. As of May 31, 2015 and November 30, 2014, the Company had a notes payable balance of $283,332 respectively. Convertible Debentures There were no new convertible debentures issued in the six months ended May 31, 2015 or in the fiscal year ended November 30, 2014. As of May 31, 2015 and November 30, 2014, the Company has convertible debenture balances of $202,555 and $241,925.

Related Party Transactions

Related Party Transactions	6 Months Ended
	May. 31, 2015
Notes
Related Party Transactions	Due to Officers From time to time, our former CEO, Mal Bains loaned money to the Company. At May 31, 2015 and November 30, 2014, the balance owed was $16,022 and $17,476 respectively. The balance does not bear interest and is due on demand. Our CEO and CFO have from time to time loaned money to the Company. At May 31, 2015 and November 30, 2014, they had a balance owed to them of $1,384 respectively. The balances do not bear interest and are due on demand.

Capital Stock

Capital Stock	6 Months Ended
	May. 31, 2015
Notes
Capital Stock	Capital Stock a) Authorized Authorized capital stock consists of: 500,000,000 common shares with a par value of $0.001 per share; and 1,000,000 preferred shares with a par value of $0.001 per share. On January 25, 2013, the Company filed an amendment to its articles of incorporation to designation 100,000 preferred shares as Series A preferred stock which have a conversion rate to common shares of 1 for 1,000. The amendment also designated 100,000 shares of preferred stock as Series B preferred stock which have a conversion rate to common shares of 1 for 5,000. b) Share Issuances In December 2012, the Company issued 78,333,333 common shares in connection with the conversion of $4,700 of convertible debentures and accrued interest. The conversions had an average price of $0.00006 per share. In January 2013, the Company issued 78,333,333 common shares in connection with the conversion of $4,700 of convertible debentures and accrued interest. The conversions had an average price of $0.00006 per share. In January 2013, the Company issued 85,000,000 common shares in connection with the conversion of $2,125 of convertible debentures and accrued interest. The conversions had an average price of $0.00003 per share. There were no share issuances in the fiscal year ended November 30, 2014. In January 2015, the Company issued 791,176 common shares in connection with the conversion of $1,345 of convertible debentures and accrued interest. The conversions had an average price of $0.0017 per share. In January 2015, the Company issued 791,593 common shares in connection with the conversion of $4,280 of convertible debentures and accrued interest. The conversions had an average price of $0.0054 per share. In January 2015, the Company issued 831,481 common shares in connection with the conversion of $4,490 of convertible debentures and accrued interest. The conversions had an average price of $0.0054 per share. In January 2015, the Company issued 831,481 common shares in connection with the conversion of $4,490 of convertible debentures and accrued interest. The conversions had an average price of $0.0054 per share. In February 2015, the Company issued 832,075 common shares in connection with the conversion of $4,490 of convertible debentures and accrued interest. The conversions had an average price of $0.0053 per share. In February 2015, the Company issued 832,250 common shares in connection with the conversion of $3,325 of convertible debentures and accrued interest. The conversions had an average price of $0.0040 per share. In February 2015, the Company issued 832,250 common shares in connection with the conversion of $3,325 of convertible debentures and accrued interest. The conversions had an average price of $0.0040 per share. In February 2015, the Company issued 2,560,000 common shares in connection with the conversion of 512 shares of Preferred B Shares. In March 2015, the Company issued 831,633 common shares in connection with the conversion of $4,075 of convertible debentures and accrued interest. The conversions had an average price of $0.0049 per share. In March 2015, the Company issued 832,075 common shares in connection with the conversion of $4,660 of convertible debentures and accrued interest. The conversions had an average price of $0.0056 per share. In March 2015, the Company issued 328,182 common shares in connection with the conversion of $1,805 of convertible debentures and accrued interest. The conversions had an average price of $0.0055 per share. In March 2015, the Company issued 503,636 common shares in connection with the conversion of $4,575 of convertible debentures and accrued interest. The conversions had an average price of $0.0055 per share. In March 2015, the Company issued 2,545,000 common shares in connection with the conversion of 509 shares of Preferred B Shares. In March 2015, the Company issued 3,730,000 common shares in connection with the conversion of 746 shares of Preferred B Shares. In April 2015, the Company issued 3,395,000 common shares in connection with the conversion of 679 shares of Preferred B Shares. In April 2015, the Company issued 2,067,073 common shares in connection with the conversion of $1,695 of convertible debentures and accrued interest. The conversions had an average price of $0.0008 per share. In April 2015, the Company issued 2,770,000 common shares in connection with the conversion of 554 shares of Preferred B Shares. In the six months ended May 31, 2015, the Company issued 17,002,599 shares of common stock.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	May. 31, 2015
Notes
Commitments and Contingencies	Commitments and Contingencies In August, 2009, trading in the Company’s stock was temporarily suspended in British Columbia, Canada by the British Columbia Securities Commission (BCSC). The temporary suspension was the result of what the BCSC termed “suspicious trading activity” due to a significant increase in the share price of the Company’s stock price. Various shareholders, and the former CEO and President, Malkeet Bains have been interviewed and several have been either charged with or accepted please in connection with violations of Canadian securities laws. The Cease Trade Order is still in effect regarding trading in British Columbia, Canada only, and specifically affects the residents thereof. The case outlined above does not involve the Company or any of its current officers or directors. A consulting agreement between American Mineral Group and Internet Marketing Solutions, Inc. (IMS) provides that IMS will receive a Consulting Fee of ten percent (10%) of the gross value of the project received by American Mineral Group including cash, stock and stock purchase warrants.

Subsequent Events

Subsequent Events	6 Months Ended
	May. 31, 2015
Notes
Subsequent Events	Subsequent Events Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 and has determined that other than listed below, no material subsequent events exist. On June 2 , On June 12, 2015, the Company consummated a share exchange agreement with Amgentech Inc./Telco Cuba, Inc., a Florida corporation, whereby the Company will issue 75,000,000 shares of common stock previously issued to third parties in exchange for 100% of the issued and outstanding capital of Amgentech Inc./Telco Cuba, Inc. Amgentech Inc./Telco Cuba, Inc. will be the surviving entity and focus on opportunities in the Cuban telecommunications market. On June 15, 2015, the Company effectuated an amendment to its articles of incorporation to change its name from CaerVision Global, Inc. to Telco Cuba, Inc. On June 15, 2015, the Company effectuated an amendment to its articles of incorporation to appoint William Sanchez to the position of CEO, CFO, President, Treasurer and Secretary. In the same amendment to our articles of incorporation, Erwin Vahlsing Jr., Thomas J Craft Jr. and Frederick J Pucillo Jr., resigned their positions as officers and directors of the Company.

Acquisition of Working Interest

Acquisition of Working Interest	6 Months Ended
	May. 31, 2015
Notes
Acquisition of Working Interest	Mineral Property In August 2009, the Company entered into an agreement to acquire the mineral rights to 331 unpatented lode mining claims known as the Conglomerate Mesa, located in Inyo County, California. In March 2011, the Company added an additional 217 unpatented lode mining claims. In fiscal year 2012, the Company determined that the effort and cost of developing these claims required more resources that could be more effectively used on other opportunities, and abandoned the Conglomerate Mesa project. In February 2013, the Company acquired a 28% Working Interest in the Grand Chenier oil and gas prospect in Louisiana. The property contains an estimate 9.0 million barrels of oil and was in production until approximately 2009 when the then operator failed to manage the interests and certain repairs were not made leading to the cessation of production. The Company believes that with approximately $2.0 million in capital, the field can be returned to production and additional wells within the prospect can then be brought online increasing production to a profitable level.

Accrued Compensation

Accrued Compensation	6 Months Ended
	May. 31, 2015
Notes
Accrued Compensation	Employment Contracts with Officers In September 2010, the Company entered into five year Employment Contracts with its three former officers of the Company. The three former officers of the Company have recently resigned, see subsequent events footnote. As of May 31, 2015 and November 30, 2014, the Company had an accrued payroll liability balance of $1,319,194.

Income Taxes

Income Taxes	6 Months Ended
	May. 31, 2015
Notes
Income Taxes	Income Taxes Income taxes are accounted for in accordance with the provisions of FASB ASC 740, Accounting for Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized.

Earnings (loss) Per Common Shar

Earnings (loss) Per Common Share	6 Months Ended
	May. 31, 2015
Notes
Earnings (loss) Per Common Share	Basic and Diluted Loss Per Share Basic and diluted loss per share is based on the weighted average number of shares outstanding. Potential common shares includable in the computation of fully diluted per share results are not presented in the financial statements as their effect would be anti-dilutive.

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	May. 31, 2015
Notes
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the statement of cash flows, cash includes demand deposits, saving accounts and money market accounts. The Company considers all highly liquid instruments with maturities of three months or less when purchased to be cash equivalents.

Revenue Recognition

Revenue Recognition	6 Months Ended
	May. 31, 2015
Notes
Revenue Recognition	Revenue Recognition The Companies follow the guidance of the FASB ASC 605-10-S99 “Revenue Recognition Overall – SEC Materials”. The Companies record revenue when persuasive evidence of an arrangement exists, product delivery has occurred, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. Revenues consist primarily of product sales. As at May 31, 2015, the Company had no revenues to report.

Use of Estimates

Use of Estimates	6 Months Ended
	May. 31, 2015
Notes
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with US generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those reported.

Foreign Currency Translation

Foreign Currency Translation	6 Months Ended
	May. 31, 2015
Notes
Foreign Currency Translation	Foreign Currency Transaction Gains and Losses The Company’s principle operations are located in the United States through it has some prior liabilities in Canadian dollars. Accordingly, the Company has used the balance sheet conversion rate to adjust the foreign currency liability and therefor has recorded a foreign currency translation gain or loss. Cumulative differences resulting from the fluctuation in the exchange rate are recorded as an offset to equity in the balance sheet and recorded as a component of comprehensive loss on the income statement.

Accounts Receivable and Allowan

Accounts Receivable and Allowance For Doubtful Accounts	6 Months Ended
	May. 31, 2015
Notes
Accounts Receivable and Allowance For Doubtful Accounts	Accounts receivable and concentration of credit risk The Company currently has no accounts receivable, no customers, and therefore, does not currently foresee a concentrated credit risk associated with trade receivables. If and when the Company commences operations that generate revenue, the Company will evaluate the receivable in light of the collectability in the normal course of business.

Fair Value Measurements_ Reconc

Fair Value Measurements: Reconciliation Schedule of Derivative Liabilities at Fair Value (Tables)	6 Months Ended
	May. 31, 2015
Tables/Schedules
Reconciliation Schedule of Derivative Liabilities at Fair Value	The following table provides the assets and liabilities carried at fair value measured on a recurring and non-recurring basis as of May 31, 2015 and November 30, 2014: Fair Value Measurements at May 31, 2015 Quoted prices Significant Total Carrying in active other Significant Value at markets observable unobservable May 31, 2014 (Level 1) inputs (Level 2) inputs (Level 3) Derivative liabilities $ 192,123 $ - $ - $ 192,123 Fair Value Measurements at November 30, 2014 Quoted prices Significant Total Carrying in active other Significant Value at markets observable unobservable November 30, 2014 (Level 1) inputs (Level 2) inputs (Level 3) Derivative liabilities $ 192,123 $ - $ - $ 192,123 The derivative liabilities are measured at fair value using quoted market prices and estimated volatility factors based on historical quoted market prices for the Company’s common stock, and are classified within Level 3 of the valuation hierarchy.

Fair Value Measurements_ Fair V

Fair Value Measurements: Fair Value, (Gains) Losses on Derivative Liabilities included in Earnings (Tables)	6 Months Ended
	May. 31, 2015
Tables/Schedules
Fair Value, (Gains) Losses on Derivative Liabilities included in Earnings	The following is a reconciliation of the beginning and ending balances for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): May 31, 2015 November 30, 2014 Beginning balance $ 192,123 $ 192,123 Derivative liabilities recorded - - Derivative liabilities converted - - Unrealized gain attributable to the change in liabilities still held - - Ending balance $ 192,123 $ 192,123 The fair value of the derivative liability at May 31, 2015 and November 30, 2014, totaling $192,123, respectively, was calculated using the Black-Scholes Option Pricing model. Gains and losses (realized and unrealized) included in earnings (to change in fair value of derivative liability) for the three months ended May 31, 2015 and 2014, are reported in other expenses as follows: May 31, 2015 November 28, 2014 (Gain) Loss on derivative liabilities recorded during the period $ - $ - Debt discount attributable to derivative liabilities recorded - - Derivative liabilities converted during the period - - Unrealized gain attributable to the change in liabilities still held - - Net unrealized (gain) loss included in earnings $ - $ -