Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Nov. 30, 2016 | Feb. 28, 2017 | Feb. 27, 2017 | |
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Nov. 30, 2016 | ||
Trading Symbol | orgs | ||
Entity Registrant Name | Orgenesis Inc. | ||
Entity Central Index Key | 1,460,602 | ||
Current Fiscal Year End Date | --11-30 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 116,615,693 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Public Float | $ 60,098,916 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Nov. 30, 2016 | Nov. 30, 2015 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 891 | $ 4,168 |
Accounts receivable, net | 1,229 | 1,173 |
Prepaid expenses and other receivables | 779 | 1,118 |
Grants receivable | 906 | 1,446 |
Inventory | 400 | 301 |
Total current assets | 4,205 | 8,206 |
NON CURRENT ASSETS: | ||
Property and equipment, net | 4,573 | 4,296 |
Restricted cash | 5 | 5 |
Intangible assets, net | 15,050 | 16,653 |
Goodwill | 9,584 | 9,535 |
Other assets | 70 | 53 |
Total non current assets | 29,282 | 30,542 |
TOTAL ASSETS | 33,487 | 38,748 |
CURRENT LIABILITIES: | ||
Short term bank credit | 21 | 0 |
Accounts payable | 4,554 | 3,475 |
Accrued expenses and other payables | 1,205 | 816 |
Employees and related payables | 1,680 | 1,348 |
Related parties | 42 | 42 |
Advance payments on account of grant | 243 | 307 |
Short-term loans and current maturities of long term loans | 1,111 | 2,829 |
Deferred income | 1,273 | 1,216 |
Current maturities of convertible loans | 2,541 | 3,022 |
Convertible bonds | 1,818 | 1,888 |
Price protection derivative | 76 | 1,533 |
Investments in associate, net | 12 | 0 |
TOTAL CURRENT LIABILITIES | 14,576 | 16,476 |
LONG-TERM LIABILITIES: | ||
Loans payable | 3,291 | 2,540 |
Convertible loans | 1,059 | 0 |
Warrants | 1,843 | 1,382 |
Retirement benefits obligation | 5 | 5 |
Put option derivative | 273 | 0 |
Deferred taxes | 1,862 | 3,327 |
TOTAL LONG-TERM LIABILITIES | 8,333 | 7,254 |
TOTAL LIABILITIES | 22,909 | 23,730 |
COMMITMENTS | 0 | 0 |
REDEEMABLE COMMON STOCK | 0 | 21,458 |
EQUITY (CAPITAL DEFICIENCY): | ||
Common stock of $0.0001 par value, 1,750,000,000 shares authorized, 114,096,461 and 55,835,950 shares issued and outstanding as of November 30, 2016 and November 30, 2015, respectively | 12 | 6 |
Additional paid-in capital | 41,605 | 14,229 |
Receipts on account of shares to be allotted | 0 | 1,251 |
Accumulated other comprehensive loss | (1,205) | (1,286) |
Accumulated deficit | (29,834) | (20,640) |
TOTAL EQUITY (CAPITAL DEFICIENCY) | 10,578 | (6,440) |
TOTAL LIABILITIES AND EQUITY (NET OF CAPITAL DEFICIENCY) | $ 33,487 | $ 38,748 |
CONSOLIDATED BALANCE SHEETS PAR
CONSOLIDATED BALANCE SHEETS PARENTHETICALS - $ / shares | Nov. 30, 2016 | Nov. 30, 2015 |
Common Stock, par or stated value | $ 0.0001 | $ 0.0001 |
Common Stock, shares authorized | 1,750,000,000 | 1,750,000,000 |
Common Stock, shares issued | 114,096,461 | 55,835,950 |
Common Stock, shares outstanding | 114,096,461 | 55,835,950 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
REVENUES | $ 6,397 | $ 2,974 |
COST OF REVENUES | 7,657 | 3,880 |
GROSS LOSS | 1,260 | 906 |
RESEARCH AND DEVELOPMENT EXPENSES, net | 2,157 | 1,067 |
AMORTIZATION OF INTANGIBLE ASSETS | 1,620 | 1,203 |
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 6,240 | 4,035 |
OPERATING LOSS | 11,277 | 7,211 |
FINANCIAL INCOME, net | (659) | (1,850) |
SHARE IN LOSSES OF ASSOCIATED COMPANY | 123 | 0 |
LOSS BEFORE INCOME TAXES | 10,741 | 5,361 |
INCOME TAX BENEFIT | (1,547) | (900) |
NET LOSS | $ 9,194 | $ 4,461 |
LOSS PER SHARE: | ||
Basic | $ 0.09 | $ 0.08 |
Diluted | $ 0.09 | $ 0.11 |
WEIGHTED AVERAGE NUMBER OF SHARES USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE: | ||
Basic | 102,258,854 | 55,798,416 |
Diluted | 102,258,854 | 56,920,912 |
OTHER COMPREHENSIVE LOSS - | ||
Net loss | $ 9,194 | $ 4,461 |
Translation adjustments | (81) | 1,268 |
TOTAL COMPREHENSIVE LOSS | $ 9,113 | $ 5,729 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Receipts on Account of Share to be Allotted [Member] | Accumulated Other Comprehensive Loss[Member] | Accumulated Deficit [Member] | Total |
Beginning Balance at Nov. 30, 2014 | $ 6 | $ 13,152 | $ 60 | $ (18) | $ (16,179) | $ (2,979) |
Beginning Balance (Shares) at Nov. 30, 2014 | 55,970,565 | |||||
Stock-based compensation to employees and directors | 713 | 713 | ||||
Stock-based compensation to service providers | 90 | 90 | ||||
Warrants issued to credit providers | 208 | 208 | ||||
Issuances of shares | 60 | (60) | ||||
Issuances of shares (Shares) | 115,385 | |||||
Shares cancellation (Shares) | (250,000) | |||||
Receipts on account of shares to be issued | 6 | 1,251 | 1,257 | |||
Comprehensive loss for the year | (1,268) | (4,461) | (5,729) | |||
Ending Balance at Nov. 30, 2015 | $ 6 | 14,229 | 1,251 | (1,286) | (20,640) | (6,440) |
Ending Balance (Shares) at Nov. 30, 2015 | 55,835,950 | |||||
Stock-based compensation to employees and directors | 1,103 | 1,103 | ||||
Stock-based compensation to service providers | 1,613 | 1,613 | ||||
Stock-based compensation to service providers (Shares) | 2,650,000 | |||||
Warrants and shares to be issued due to extinguishment of a convertible loan | 114 | 114 | ||||
Warrants and shares to be issued due to extinguishment of a convertible loan (Shares) | 288,462 | |||||
Beneficial conversion feature of convertible loans | 257 | 257 | ||||
Issuance of shares from investments and conversion of convertible loans | $ 2 | 2,835 | $ (1,251) | 1,586 | ||
Issuance of shares from investments and conversion of convertible loans (Shares) | 12,920,325 | |||||
Reclassification of redeemable common stock | $ 4 | 21,454 | 21,458 | |||
Reclassification of redeemable common stock (Shares) | 42,401,724 | |||||
Comprehensive loss for the year | 81 | (9,194) | (9,113) | |||
Ending Balance at Nov. 30, 2016 | $ 12 | $ 41,605 | $ (1,205) | $ (29,834) | $ 10,578 | |
Ending Balance (Shares) at Nov. 30, 2016 | 114,096,461 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (9,194) | $ (4,461) |
Adjustments required to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 2,869 | 803 |
SHARE IN LOSSES OF ASSOCIATED COMPANY | 123 | 0 |
Loss from extinguishment of a convertible loan | 229 | 0 |
Depreciation and amortization expenses | 2,923 | 1,991 |
Change in fair value of warrants and embedded derivatives | (1,732) | (1,375) |
Change in fair value of convertible bonds | (84) | (1,221) |
Interest expense accrued on loans and convertible loans (including amortization of beneficial conversion feature) | 283 | 502 |
Changes in operating assets and liabilities: | ||
Increase in accounts receivable | (54) | (731) |
Increase in inventory | (101) | (87) |
Increase in other assets | (17) | (22) |
Decrease (increase) in prepaid expenses and other accounts receivable | 136 | (1,083) |
Increase in accounts payable | 1,079 | 1,497 |
Increase in accrued expenses | 399 | 538 |
Increase in employee and related payables | 352 | 353 |
Increase in deferred income | 53 | 1,039 |
Increase in advance payments and receivables on account of grant | 499 | 451 |
Decrease in deferred taxes | (1,546) | (900) |
Net cash used in operating activities | (3,783) | (2,706) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (1,425) | (982) |
Investments in Associates | (111) | 0 |
Restricted cash | 0 | (5) |
Acquisition of MaSTherCell, net of cash acquired, see | 0 | 305 |
Short term investments and deposits | 0 | (250) |
Net cash used in investing activities | (1,536) | (932) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Short-term line of credit | 21 | (14) |
Proceeds from issuance of shares and warrants | 1,488 | 4,203 |
Proceeds from issuance of loans payable | 1,121 | 3,946 |
Repayment of short and long-term debt | (2,106) | (2,419) |
Proceeds from issuance of convertible loans (net of transaction costs) | 1,599 | 950 |
Net cash provided by financing activities | 2,123 | 6,666 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (3,196) | 3,028 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | (81) | (174) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 4,168 | 1,314 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 891 | 4,168 |
SUPPLEMENTAL NON-CASH FINANCING ACTIVITY | ||
Conversion of loans (including accrued interest) to common stock and warrants | 1,028 | 0 |
Reclassification of redeemable common stock to equity | 21,458 | 0 |
Warrants to be issued to credit providers | 0 | 208 |
SUPPLEMENTAL INFORMATION ON INTEREST PAID IN CASH | $ 106 | $ 125 |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 12 Months Ended |
Nov. 30, 2016 | |
DESCRIPTION OF BUSINESS [Text Block] | NOTE 1 – DESCRIPTION OF BUSINESS a. General Orgenesis Inc. (the “Company”) was incorporated in the state of Nevada on June 5, 2008, under the name Business Outsourcing Services, Inc. Effective August 31, 2011, the Company completed a merger with its subsidiary, Orgenesis Inc., a Nevada corporation which was incorporated solely to effect a change in its name. As a result, the Company changed its name from “Business Outsourcing Services, Inc.” to “Orgenesis Inc.” The consolidated financial statements include the accounts of Orgenesis Inc., its wholly-owned subsidiaries MaSTherCell S.A (the “MaSTherCell”), its Belgian based subsidiary and a contract development manufacturing organization, or CDMO (see also note 3), specialized in cell therapy development for advanced medicinal products; Orgenesis SPRL (the “Belgian Subsidiary”), a Belgian based subsidiary which is engaged in development and manufacturing activities together with clinical development studies in Europe, and later on to be the Company’s center for activities in Europe; Orgenesis Maryland Inc. (the “U.S. Subsidiary”) a Maryland corporation, and Orgenesis Ltd. an Israeli corporation. The Company is a regenerative therapy company with expertise and experience in cell therapy development and manufacturing. The Company’s cell therapy technology derives from published work of Prof. Sarah Ferber, our Chief Science Officer and a researcher at Tel Hashomer Medical Research (“THM”), a leading medical hospital and research center in Israel, who established a proof of concept that demonstrates the capacity to induce a shift in the developmental fate of cells from the liver and transdifferentiating (converting) them into “pancreatic beta cell-like” insulin-producing cells. Its development activities with respect to cell-derived and related therapies, which are conducted through Orgenesis Ltd. (the “Israeli Subsidiary”), have, to date, been limited to laboratory and preclinical testing. On May 10, 2016, the Company and Atvio Biotech Ltd., (“Atvio”) entered into a Joint Venture Agreement (the “JVA”) pursuant to which the parties agreed to collaborate in the contract development and manufacturing of cell and virus therapy products in the field of regenerative medicine in Israel. See also Note 6. As used in this report and unless otherwise indicated, the term “Company” refers to Orgenesis Inc. and its wholly-owned subsidiaries (“Subsidiaries”). Unless otherwise specified, all amounts are expressed in United States dollars. b. Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of November 30, 2016, the Company had not achieved profitable operations, has accumulated losses of approximately $29.8 million (since inception), has negative cash flows from operating activities, has a working deficiency of $10.3 million and expects to incur further losses in the development of its business. Presently, the Company does not have sufficient cash and other resources to meet its requirements in the following twelve months. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to obtain additional financing as may be required and ultimately to attain profitability. The Company needs to raise significant funds on an immediate basis in order to continue to meet its liquidity needs, realize its business plan and maintain operations. The Company’s current cash resources are not sufficient to support its operations as presently conducted or permit it to take advantage of business opportunities that may arise. Management of the Company is continuing its efforts to secure funds through equity and/or debt instruments for its operations. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. There can be no assurance that management will be successful in implementing a business plan or that the successful implementation of a business plan will actually improve the Company’s operating results. If the Company is unable to obtain the necessary capital, the Company may have to cease operations The Company has been funding its operations primarily from the proceeds from private placements of the Company’s convertible and equity securities and from revenues generated by MaSTherCell. From December 2015 through November 2016, the Company received proceeds of approximately $6.1 million from customers, $1.1 million (Euro 1 million) loan, $1.5 million from a private placement to certain accredited investors of its equity and equity linked securities and $1.6 million from proceeds of convertible loans. In addition, after the period ended November 30, 2016, the Company raised an additional $5.2 million from the proceeds of a private placement to certain accredited investors of its equity and equity linked securities and convertible loans, $1.9 million from customers and $2.1 (Euro 2 million) from new approved Walloon Region, Belgium, Direction générale opérationnelle de l'Economie, de l'Emploi & de la Recherche ("DGO6") grants (See Note 20). |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Nov. 30, 2016 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block] | NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies adopted are generally consistent with those of the previous financial year. a. Use of Estimates in the Preparation of Financial Statements The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statement date and the reported expenses during the reporting periods. Actual results could differ from those estimates. As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to the valuation of stock based compensation, valuation of financial instruments measured at fair value and valuation of impairment of goodwill and intangible assets. b. Business Combination The Company allocates the purchase price of an acquired business to the tangible and intangible assets acquired and liabilities assumed based upon their estimated fair values on the acquisition date. Any excess of the purchase price over the fair value of the net assets acquired is recorded as goodwill. Acquired in-process backlog, customer relations, brand name and know how are recognized at fair value. The purchase price allocation process requires management to make significant estimates and assumptions, especially at the acquisition date with respect to intangible assets. Direct transaction costs associated with the business combination are expensed as incurred. The allocation of the consideration transferred in certain cases may be subject to revision based on the final determination of fair values during the measurement period, which may be up to one year from the acquisition date. The Company includes the results of operations of the business that it has acquired in its consolidated results prospectively from the date of acquisition. c. Cash equivalents The Company considers all short term, highly liquid investments, which include short term bank deposits with original maturities of three months or less from the date of purchase, that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash, to be cash equivalents. d. Restricted Cash The company has restricted cash deposited as a guarantee for the use of the Company's credit card. The Company classifies these amounts as a non-current asset since the Company expects to continue the use of the credit card for the foreseeable future. e. Research and Development, net Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, stock-based compensation expenses, payroll taxes and other employees' benefits, lab expenses, consumable equipment and consulting fees. All costs associated with research and developments are expensed as incurred. Participation from government departments and from research foundations for development of approved projects is recognized as a reduction of expense as the related costs are incurred. f. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned Subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. g. Non Marketable Equity Investments The Company’s investments in certain non-marketable equity securities in which it has the ability to exercise significant influence, but does not control through variable interests or voting interests, are accounted for under the equity method of accounting and presented as Investment in associates, net, in the Company’s consolidated balance sheets. Under the equity method, the Company recognizes its proportionate share of the comprehensive income or loss of the investee. The Company’s share of income and losses from equity method investments is included in share in losses of associated company. The Company reviews its investments accounted for under the equity method for possible impairment, which generally involves an analysis of the facts and changes in circumstances influencing the investments. h. Functional Currency The currency of the primary economic environment in which the operations of the Company and part of its Subsidiaries are conducted is the U.S. dollar (“$” or “dollar”). The functional currency of the Belgian Subsidiaries is the Euro (“€” or “Euro”). Most of the Company’s expenses are incurred in dollars and the source of the Company’s financing has been provided in dollars. Thus, the functional currency of the Company and its other subsidiaries is the dollar. Transactions and balances originally denominated in dollars are presented at their original amounts. Balances in foreign currencies are translated into dollars using historical and current exchange rates for nonmonetary and monetary balances, respectively. For foreign transactions and other items reflected in the statements of operations, the following exchange rates are used: (1) for transactions – exchange rates at transaction dates or average rates and (2) for other items (derived from nonmonetary balance sheet items such as depreciation) – historical exchange rates. The resulting transaction gains or losses are recorded as financial income or expenses. The financial statements of the Belgian Subsidiaries are included in the consolidated financial statements, translated into U.S. dollars. Assets and liabilities are translated at year-end exchange rates, while revenues and expenses are translated at yearly average exchange rates during the year. Differences resulting from translation of assets and liabilities are presented as other comprehensive income. i. Inventory Inventory is stated at the lower of cost or net realizable value with cost determined under the first-in-first-out (FIFO) cost method. The entire balance of inventory at November 30, 2016, consists of raw material. j. Property and Equipment Property and equipment are recorded at cost and depreciated by the straight-line method over the estimated useful lives of the related assets. Annual rates of depreciation are presented in the table below: Weighted Average Useful Life (Years) Production facility 10 Laboratory equipment 5 Office equipment and computers 3 - 5 k. Intangible Assets Intangible assets and their useful lives are as follows: Weighted Average Amortization Recorded at Useful Life (Years) Comprehensive Loss Line Item Backlog 1.75 Cost of revenues Customer Relationships 7.75 Amortization of intangible assets Brand 9.75 Amortization of intangible assets Know-How 11.75 Amortization of intangible assets Intangible assets are recorded at acquisition cost less accumulated amortization and impairment. Definite lived intangible assets are amortized over their estimated useful life using the straight-line method, which is determined by identifying the period over which the cash flows from the asset are expected to be generated. l. Goodwill Goodwill represents the excess of the purchase price of acquired business over the estimated fair value of the identifiable net assets acquired. Goodwill is not amortized but is tested for impairment at least annually (at November 30), at the reporting unit level or more frequently if events or changes in circumstances indicate that the asset might be impaired. The goodwill impairment test is applied by performing a qualitative assessment before calculating the fair value of the reporting unit. If, on the basis of qualitative factors, it is considered not more likely than not that the fair value of the reporting unit is less than the carrying amount, further testing of goodwill for impairment would not be required. Otherwise, goodwill impairment is tested using a two-step approach. The first step involves comparing the fair value of the reporting unit to its carrying amount. If the fair value of the reporting unit is determined to be greater than its carrying amount, there is no impairment. If the reporting unit’s carrying amount is determined to be greater than the fair value, the second step must be completed to measure the amount of impairment, if any. The second step involves calculating the implied fair value of goodwill by deducting the fair value of all tangible and intangible assets, excluding goodwill, of the reporting unit from the fair value of the reporting unit as determined in step one. The implied fair value of the goodwill in this step is compared to the carrying value of goodwill. If the implied fair value of the goodwill is less than the carrying value of the goodwill, an impairment loss equivalent to the difference is recorded. m. Impairment of Long-lived Assets The Company reviews its property and equipment, intangible assets subject to amortization and other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset class may not be recoverable. Indicators of potential impairment include: an adverse change in legal factors or in the business climate that could affect the value of the asset; an adverse change in the extent or manner in which the asset is used or is expected to be used, or in its physical condition; and current or forecasted operating or cash flow losses that demonstrate continuing losses associated with the use of the asset. If indicators of impairment are present, the asset is tested for recoverability by comparing the carrying value of the asset to the related estimated undiscounted future cash flows expected to be derived from the asset. If the expected cash flows are less than the carrying value of the asset, then the asset is considered to be impaired and its carrying value is written down to fair value, based on the related estimated discounted cash flows. There were no impairment charges in 2016 and 2015. n. Revenue Recognition The Company recognizes revenue for services linked to cell process development and cell manufacturing services based on individual contracts in accordance with Accounting Standards Codification (“ASC”) 605, Revenue Recognition, The Company also incurs revenue from selling of some consumables which are incidental to the services provided as foreseen in the clinical services contracts. Such revenue is recognized upon delivery of the processed cells in which they were consumed. o. Financial Liabilities Measured at Fair Value 1) Fair Value Option Topic 815 provides entities with an option to report certain financial assets and liabilities at fair value with subsequent changes in fair value reported in earnings. The election can be applied on an instrument by instrument basis. The Company elected the fair value option to its convertible bonds. The liability is measured both initially and in subsequent periods at fair value, with changes in fair value charged to finance expenses, net (See also Note 15). 2) Warrants and Price Protection Mechanism Derivative Classified as a Liability Warrants that entitle the holder to down-round protection (through ratchet and anti-dilution provisions) and price protection mechanism derivatives in respect of shares entitled to down-round protection are classified as liabilities on the balance sheet. The liability is measured both initially and in subsequent periods at fair value, with changes in fair value charged to finance expenses, net (See Note 15). 3) Derivatives Embedded derivatives are separated from the host contract and carried at fair value when (1) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract and (2) a separate, standalone instrument with the same terms would qualify as a derivative instrument. The derivative is measured both initially and in subsequent periods at fair value, with changes in fair value charged to finance expenses, net. As to embedded derivatives arising from the issuance of convertible debentures, see Note 15. p. Income Taxes 1) With respect to deferred taxes, income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future. 2) The Company follows a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained on examination. If this threshold is met, the second step is to measure the tax position as the largest amount that is greater than 50% likely of being realized upon ultimate settlement. 3) Taxes that would apply in the event of disposal of investment in Subsidiaries have not been taken into account in computing the deferred income taxes, as it is the Company’s intention to hold these investments and not realize them. q. Stock-based Compensation The Company accounts for employee stock-based compensation in accordance with the guidance of ASC Topic 718, Compensation - Stock Compensation The Company follows ASC Topic 505-50, Equity-Based Payments to Non-Employees r. Redeemable Common Stock Common stock with embedded redemption features, such as an unwind option, whose settlement is not at the Company’s discretion, are considered redeemable common stock. Redeemable common stock is considered to be temporary equity and are therefore presented as a mezzanine section between liabilities and equity on the Company's consolidated balance sheets. Subsequent adjustment of the amount presented in temporary equity is required only if the Company's management estimates that it is probable that the instrument will become redeemable. Upon termination of the redemption features, the redeemable common stock are reclassified into equity. s. Loss per Share of Common Stock Net loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of common shares outstanding during the period. Diluted net loss per share is based upon the weighted average number of common shares and of common shares equivalents outstanding when dilutive. Common share equivalents include: (i) outstanding stock options under the Company’s Global Share Incentive Plan (2012) and warrants which are included under the treasury share method when dilutive, and (ii) common shares to be issued under the assumed conversion of the Company’s outstanding convertible loans, which are included under the if-converted method when dilutive. See Note 12. t. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of principally cash and cash equivalents, restricted cash and certain receivables. The Company held these instruments with highly rated financial institutions and the Company has not experienced any significant credit losses in these accounts and does not believe the Company is exposed to any significant credit risk on these instruments apart of accounts receivable. The Company performs ongoing credit evaluations of its customers for the purpose of determining the appropriate allowance for doubtful accounts. An appropriate allowance for doubtful accounts is included in the accounts and netted against accounts receivable. In the year ended November 30, 2016, the Company has recorded an allowance of $336 thousand ($0 in the year ended November 30,2015). Bad debt allowance is created when objective evidence exists of inability to collect all sums owed it under the original terms of the debit balances. Material customer difficulties, the probability of their going bankrupt or undergoing economic reorganization and insolvency or material delays in payments are all considered indicative of reduced debtor balance value u. Beneficial Conversion Feature (“BCF”) When the Company issues convertible debt, if the stock price is greater than the effective conversion price (after allocation of the total proceeds) on the measurement date, the conversion feature is considered "beneficial" to the holder. If there is no contingency, this difference is treated as issued equity and reduces the carrying value of the host debt; the discount is accreted as deemed interest on the debt (See Note 8(c)). v. Other Comprehensive Loss Other comprehensive loss represents adjustments of foreign currency translation. w. Newly Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09 (“ASU 2014-09”) "Revenue from Contracts with Customers." ASU 2014-09 will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue upon the transfer of goods or services to customers in an amount that the entity expects to be entitled to in exchange for those goods or services. On July 9, 2015, the FASB deferred the effective date of the standard by one year, which results in the new standard being effective for the Company at the beginning of its first quarter of fiscal year 2018. In addition, during March, April and May 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers : Principal versus Agent Considerations (Reporting Revenue Gross versus Net), ASU 2016-10, Revenue from Contracts with Customers : Identifying Performance Obligations and Licensing and ASU 2016-12, Revenue from Contracts with Customers : Narrow-Scope Improvements and Practical Expedients, respectively, which clarified the guidance on certain items such as reporting revenue as a principal versus agent, identifying performance obligations, accounting for intellectual property licenses, assessing collectability and presentation of sales taxes. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. As applicable for the Company, the effective date for adopting the ASU is for the year ending November 30, 2019. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840). ASU 2016-02 requires lessees to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early application is permitted for all entities. ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application, with an option to elect to use certain transition relief. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-06, Contingent Put and Call Options in Debt Instruments (Topic 815), which requires that embedded derivatives be separated from the host contract and accounted for separately as derivatives if certain criteria are met. One of those criteria is that the economic characteristics and risks of the embedded derivatives are not clearly and closely related to the economic characteristics and risks of the host contract (the “clearly and closely related” criterion). The amendments in this Update clarify what steps are required when assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts, which is one of the criteria for bifurcating an embedded derivative. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. The amendments are an improvement to GAAP because they eliminate diversity in practice in assessing embedded contingent call (put) options in debt instruments. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted for all entities. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, as part of its simplification initiative. The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early application is permitted for all entities. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (“ASU”) 2016-15, Statement of Cash Flows Classification of Certain Cash Receipts and Cash Payments, which clarifies existing guidance related to accounting for cash receipts and cash payments and classification on the statement of cash flows. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company currently assessing the impact that this updated standard will have on the consolidated financial statements and footnote disclosures In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies the goodwill impairment test by eliminating the need to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. The same impairment assessment applies to all reporting units including those with zero or negative carrying amounts. A goodwill impairment will represent the excess of a reporting unit's carrying amount over its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments in ASU No. 2017-04 should be applied on a prospective basis. Disclosure of the nature and reason for the change in accounting principle upon transition is required. For public business entities, the amendments in this ASU are effective for annual or interim goodwill impairments tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. |
ACQUISITION OF MASTHERCELL
ACQUISITION OF MASTHERCELL | 12 Months Ended |
Nov. 30, 2016 | |
ACQUISITION OF MASTHERCELL [Text Block] | NOTE 3 – ACQUISITION OF MASTHERCELL Description of the Transaction The Company entered into a share exchange agreement dated November 3, 2014, as subsequently amended (the "SEA"), with MaSTherCell SA, Cell Therapy Holding SA (collectively “MaSTherCell”). Pursuant to the SEA, which closed on March 2, 2015 in exchange for all of the issued and outstanding shares of MaSTherCell, the Company issued to the former shareholders of MaSTherCell an aggregate of 42,401,724 shares (the “Consideration Shares”) of common stock at a price of $0.58 per share for an aggregate price of $24.6 million. Out of the Consideration Shares, 8,173,483 shares were allocated to the bondholders of MaSTherCell in case of conversion of the Convertible Bonds, as detailed below. On November 12, 2015, the Company and MaSTherCell and each of the former shareholders of MaSTherCell (the “MaSTherCell Shareholders”), entered into an amendment (“Amendment No. 2”) to the SEA. Under Amendment No. 2, the MaSTherCell Shareholders option to unwind the transaction as contained in the original Share Exchange Agreement (the “Unwind Option”) was extended to November 30, 2015. In addition, the Company agreed to remit to MaSTherCell, by way of an equity investment, the sum of $4.1 million (€ 3.8 million) by November 30, 2015, to be followed by a subsequent equity investment by December 31, 2015 in MaSTherCell of $1.3 million (€ 1.2 million). In connection with the equity investment, on December 10, 2015, the Company agreed to invest $2.4 million (€ 2.2 million) in MaSTherCell equity. The Company’s agreement represents an increase of $1.1 million (€ 1 million) over the amount which the Company was previously obligated to invest in MaSTherCell under SEA as additional equity and replaces any funding obligation that the Company had under the SEA, as amended. On December 10, 2015, the Company remitted to MaSTherCell € 3.8 million or $4.1 million (out of the original obligation for investment of € 6 million). As a result, the Unwind Option was canceled and all the shares that were issued, have been reclassed from redeemable common stock into equity. During the year ended November 30, 2016, the Company remitted to MaSTherCell an additional $1.5 million (€ 1.4 million), in compliance with its obligations. See also Note 20 (a). MaSTherCell Convertible Bonds On September 18, 2014, MaSTherCell entered into convertible bond agreements with certain of MaSTherCell’s existing and part of the SEA, the parties agreed that, in case of conversion of the Convertible Bonds upon Uplisting (listing of the Company’s shares on NASDAQ or any other national exchange in the United States which provides at least the same level of liquidity) within 14 months of the closing date, the bondholders are entitled to convert into a total of 8,173,483 out of the Consideration Shares. In case the bondholders elect to not convert and are repaid, the Consideration Shares will be reduced by the amount remaining outstanding to the bondholders. To that effect, the number of Consideration Shares to be released back to the Company, is determined by dividing the subscription amount of the outstanding Convertible Bonds plus interest owed thereunder (converted into USD at the currency exchange rate applicable on the day of conversion) by the consideration shares attributable to the MaSTherCell bondholders and by applying the resulting quotient to actual total number of Consideration shares. The conversion option of expired in May 2016. See also Notes 11(d) and 20 (d). The Company recorded the Convertible Bonds on its consolidated balance sheet at their fair value (See Note 15). Fair Value of Consideration Transferred On the acquisition date, the fair value of the total consideration transferred to acquire MaSTherCell was as follows (in thousands): Total purchase consideration: Redeemable common stock $ 24,592 Less convertible bonds 3,134 Total fair value of consideration transferred $ 21,458 The following table summarizes the allocation of purchase price to the fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands): Total assets acquired: Cash and cash equivalents $ 305 Property and equipment 4,236 Inventory 231 Other current assets 1,664 Other intangible assets 18,977 Goodwill 10,106 Total assets 35,519 Total liabilities assumed: Deferred income 947 Deferred taxes 4,440 Loan payables 6,998 Other liabilities 1,676 Total liabilities 14,061 Total consideration transferred $ 21,458 The allocation of the purchase price to the net assets acquired and liabilities assumed resulted in the recognition of other intangible assets which comprised of: Customer Relationships of $349 thousand, Know-How of $17,037 thousand, Backlog of $250 thousand and Brand Name of $1,341 thousand. These other intangible assets have a useful life between 1.75 and 11.75 years. The useful life of the other intangible assets for amortization purposes was determined considering the period of expected cash flows generated by the assets used to measure the fair value of the intangible assets adjusted as appropriate for the entity-specific factors, including legal, regulatory, contractual, competitive, economic or other factors that may limit the useful life of intangible assets. The fair value of the Know-How was estimated using a relief of royalties approach. Under this method, the fair value of the Know-How is equal to the royalty fee that the owner of the Know-How could profit from if he was to license the Know-How out. The fair value of the Backlog was estimated using the income approach. An income and expense forecast was built based upon Backlog revenue estimates and the cost to perform each contract. On this basis, a free cash flow for the asset was derived, under several assumptions. Customer Relationships and Brand Name were estimated using a discounted cash flow method with the application of the multi-period excess earnings method. Under this method, an intangible asset’s fair value is equal to the present value of the incremental after-tax cash flows attributable only to the subject intangible asset after deducting contributory asset charges. An income and expenses forecast was built based upon specific intangible asset revenue and expense estimates. Acquired goodwill is not amortized unless impaired. Goodwill isn't amortized for tax purposes. Acquisition-related Costs Acquisition-related expenses consist of transaction costs which represent external costs directly related to the acquisition of MaSTherCell and primarily include expenditures for professional fees such as legal, accounting and other directly related incremental costs incurred to close the acquisition by both the Company and MaSTherCell. Acquisition-related expenses for the year ended November 30, 2015 were $258 thousand. These expenses were recorded to selling and general administrative expense in the consolidated statements of comprehensive loss. |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Nov. 30, 2016 | |
SEGMENT INFORMATION [Text Block] | NOTE 4 - SEGMENT INFORMATION The Chief Executive Officer ("CEO") is the Company’s chief operating decision-maker ("CODM"). Following the acquisition of MaSTherCell, management has determined that there are two operating segments, based on the Company's organizational structure, its business activities and information reviewed by the CODM for the purposes of allocating resources and assessing performance. CDMO The Contract Development and Manufacturing Organization (“CDMO”) activity is operated by MaSTherCell, which specializes in cell therapy development for advanced medicinal products. MaSTherCell is providing two types of services to its customers: (i) process and assay development services and (ii) GMP contract manufacturing services. The CDMO segment includes only the results of MaSTherCell. CTB The Cellular Therapy Business (“CTB”) activity is based on our technology that demonstrates the capacity to induce a shift in the developmental fate of cells from the liver and differentiating (converting) them into “pancreatic beta cell-like” insulin producing cells for patients with Type 1 Diabetes. This segment is comprised of all entities aside from MaSTherCell. The Company assesses the performance based on a measure of "Adjusted EBIT" (earnings before financial expenses and tax, and excluding share-based compensation expenses and non-recurring income or expenses). The measure of assets has not been disclosed for each segment. Segment data for the year ended November 30, 2016 is as follows: Corporate and CDMO CTB Eliminations Consolidated (in thousands) Revenues from external customers $ 6,853 $ $ (456 ) $ 6,397 Cost of revenues (6,915 ) 557 (6,358 ) Research and development expenses, net (1,725 ) (101 ) (1,826 ) Operating expenses (2,239 ) (1,667 ) (3,906 ) (2,923 ) Depreciation and amortization expense (2,918 ) (5 ) Segment Performance $ (5,219 ) $ (3,397 ) (8,616 ) Stock-based compensation (2,661 ) (2,661 ) Financial income (expenses), net 659 659 Share in losses of associated company (123 ) (123 ) Loss before income tax (10,741 ) Segment data for the year ended November 30, 2015 is as follows: Corporate and CDMO CTB Eliminations Consolidated (in thousands) Revenues from external customers $ 3,320 $ $ (346 ) $ 2,974 Cost of revenues (3,099 ) (3,099 ) Research and development expenses, net (1,279 ) 346 (933 ) Operating expenses (1,304 ) (1,799 ) (3,103 ) Depreciation and amortization expense (1,984 ) (5 ) (1,989 ) Segment Performance $ (3,067 ) $ (3,083 ) (6,150 ) Stock -based compensation (803 ) (803 ) Acquisition costs (258 ) (258 ) Financial income (expenses), net 1,850 1,850 Loss before income tax (5,361 ) Geographic, Product and Customer Information a. Substantially all of the Company's revenues and long lived assets are located in Belgium. b. Net revenues from single customers from the CDMO segment that exceed 10% of total net revenues are: Year Ended Year Ended November 30, November 30, 2016 2015 (in thousands) Customer A $ 3,754 $ 1,921 Customer B $ 1,742 $ 626 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 12 Months Ended |
Nov. 30, 2016 | |
PROPERTY AND EQUIPMENT [Text Block] | NOTE 5 – PROPERTY AND EQUIPMENT The following table represents the components of property and equipment: November 30, 2016 2015 (in thousands) Cost: Production facility $ 4,403 $ 3,638 Office furniture and computers 211 120 Lab equipment 1,491 1,200 6,105 4,958 Less – accumulated depreciation (1,532 ) (662 ) Total $ 4,573 $ 4,296 Depreciation expense for the years ended November 30, 2016 and 2015 was $1,160 thousand and $681 thousand, respectively. |
INVESTMENTS IN ASSOCIATE, NET
INVESTMENTS IN ASSOCIATE, NET | 12 Months Ended |
Nov. 30, 2016 | |
INVESTMENTS IN ASSOCIATE, NET [Text Block] | NOTE 6 – INVESTMENTS IN ASSOCIATE, NET On May 10, 2016, the Company and Atvio entered into a joint venture agreement (the “JVA”) pursuant to which the parties agreed to collaborate in the contract development and manufacturing of cell and virus therapy products in the field of regenerative medicine in Israel. The parties pursued the joint venture through Atvio, in which the Company have a 50% participating interest therein in any and all rights and obligations and in any and all profits and losses. Under the JVA, Atvio has procured, at its sole expense, a GMP facility and appropriate staff in Israel. The Company will share with Atvio the Company’s know-how in the field of cell therapy manufacturing, which knowhow will not include the intellectual property included in the license from the Tel Hashomer Hospital in Israel to the Israeli Subsidiary. Atvio's operations have begun on September 2016. Subject to the adoption of a work plan acceptable to the Company, the Company shall remit to Atvio $1 million to defray the costs associated with the setting up and the maintenance of the GMP facility, all or part of which may be contributed by way of in kind services as agreed to in the work plan. The Company’s funding will be made by way of a convertible loan to Atvio, which shall be convertible at the Company’s option at any time into 50% of the then outstanding equity capital (proportional to the loan amount actually remitted) immediately following such conversion. As of November 30, 2016, the Company remitted to Atvio total of $111 thousand. The Company concluded that based on the terms of the agreement, it has the ability to exercise significant influence in Atvio, but does not have control. Therefore, the investment is accounted for under the equity method. The table below sets forth a summary of the changes in the investment for the year ended November 30, 2016: November 30, 2016 (In thousands) Opening balance $ - Investments 111 Share in losses (123 ) $ (12 ) In addition, at any time following the first anniversary year of the Effective Date the Company has the option to require the Atvio shareholders to transfer to the Company the entirety of their interest in Atvio for the consideration specified in the agreement. Within three years from the Effective Date, the Atvio shareholders shall have the option to require the Company to purchase from Atvios' shareholders their entire interest in Atvio for the consideration specified in the agreement. The above-mentioned options are accounted as derivatives and measured at fair value and presented in the balance sheet in "put option derivative" line item. (See Note 15). |
INTANGIBLE ASSETS AND GOODWILL
INTANGIBLE ASSETS AND GOODWILL | 12 Months Ended |
Nov. 30, 2016 | |
INTANGIBLE ASSETS AND GOODWILL [Text Block] | NOTE 7 – INTANGIBLE ASSETS AND GOODWILL Changes in the carrying amount of the Company’s goodwill for the years ended November 30, 2016 and 2015 are as follows: (in thousands) Goodwill as of December 1, 2014 $ Goodwill as acquired 10,106 Translation differences (571 ) Goodwill as of November 30,2015 $ 9,535 Translation differences 49 Goodwill as of November 30,2016 9,584 Goodwill Impairment The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The Company performed a quantitative two-step assessment for goodwill impairment for the CDMO unit. As part of the first step of the two-step impairment test, the Company compared the fair value of the reporting units to their carrying values and determined that the carrying amount of the units do not exceed their fair values. The Company estimated the fair value of the unit by using an income approach based on discounted cash flows. The assumptions used to estimate the fair value of the Company’s reporting units were based on expected future cash flows and an estimated terminal value using a terminal year growth rate based on the growth prospects for each reporting unit. The Company used an applicable discount rate which reflected the associated specific risks for the CDMO unit future cash flows. Key assumptions used to determine the estimated fair value include: (a) expected cash flow for the five-year period following the testing date (including market share, sales volumes and prices, costs to produce and estimated capital needs); (b) an estimated terminal value using a terminal year growth rate of 3% determined based on the growth prospects ; and (c) a discount rate of 15.3% and 17.2% . Based on the Company’s assessment as of November 30, 2016 and 2015 respectively , the carrying amount of its reporting unit does not exceeds its fair value. A decrease in the terminal year growth rate of 1% or an increase of 1% to the discount rate would reduce the fair value of the reporting unit by approximately $1.6 million and $2.4 million, respectively. These changes would not result in an impairment. A decrease in the terminal year growth rate and an increase in the discount rate of 1% would reduce the fair value of the reporting unit by approximately $4 million and would resulting an impairment. Other Intangible Assets Other intangible assets consisted of the following: November 30, November 30, 2016 2015 (In thousands) Gross Carrying Amount: Know How $ 16,158 16,073 Backlog* 237 237 Customer relationships 331 330 Brand name 1,272 1,266 17,998 17,906 Accumulated amortization 2,948 1,253 Net carrying amount of other intangible assets $ 15,050 16,653 *As of November 30, 2016 the backlog has been fully amortized. Intangible asset amortization expenses were approximately $1.8 and $1.7 million for the years ended November 30, 2016 and 2015 respectively. Estimated aggregate amortization expenses for the five succeeding years ending November 30 th 2017 2018 to 2021 (in thousands) Amortization expenses $ 1,615 $ 6,462 |
CONVERTIBLE LOAN AGREEMENTS
CONVERTIBLE LOAN AGREEMENTS | 12 Months Ended |
Nov. 30, 2016 | |
CONVERTIBLE LOAN AGREEMENTS [Text Block] | NOTE 8– CONVERTIBLE LOAN AGREEMENTS (a) During the year ended November 30, 2015 and 2014, the Company entered into six convertible loan agreements (out of which five during 2015) with new investors for a total amount of $1 million (the “Convertible Loans”), interest is calculated at 6% annually and was payable, along with the principal on or before the maturity date. On April 27, 2016 and December 23, 2015, the holders of all the Convertible Loans and the Company agreed to convert the Convertible Loans and accrued interest into units of the Company’s common stock, each unit comprising one share of the Company’s common stock and one three-year warrant to purchase an additional share of the Company’s common stock at an exercise price of $0.52. Upon conversion of the Convertible Loans, the Company issued an aggregate of 1,976,330 shares of Common stock and three year warrants to purchase up to an additional 1,976,330 shares. Furthermore, the Company agrees that in the event the Company issues any common shares or securities convertible into common shares in a private placement for cash at a price less than $0.52 (the “New Issuance Price”) on or before December 23, 2016, the Company will issue to the subscribers, for no additional consideration, additional common stock . As of the date of the approval of these financial statements, the shares anti-dilution protection mechanism described above, has expired and no shares were issued under this provision. The table below presents the fair value of the instruments issued as of the conversion dates and the allocation of the proceeds (for the fair value as of November 30, 2016, see Note 15): Total Fair Value (in thousands) December 23, April 27, 2015 2016 Warrants component $ 323 $ 13 Price protection derivative component 34 2 Shares component 614 32 Total $ 971 $ 47 (b) On April 27, 2016, the Company entered into an assignment and assumption of debt agreement with Nine Investments Ltd. (“Nine Investments”) and Admiral Ventures Inc. (“Admiral”). Pursuant to the terms of a Convertible Loan Agreement dated May 29, 2014, as amended on December 2014 (collectively, the "Loan Agreement"), Nine Investments agreed to assign and transfer to Admiral all of the Company’s obligations for the outstanding amount of the Loan Agreement. Additional amendments to the provisions of the Loan Agreement were included the following: (1) Extending the due date of the loan of $1.5 million through September 30, 2016; The Company accounted for the above changes as an extinguishment of the old debt and issuance of a new debt. As a result, a loss of $229 thousand was recorded within financial expenses. As of the date of the approval of these financial statements, the Company has not repaid any portion of the loan, and the Company and Admiral have entered into a debt settlement agreement extending the maturity to June 2018. See Note 20(g). (c) During the year ended November 30, 2016 the Company entered into several unsecured convertible note agreements with accredited or offshore investors for an aggregate amount of $1.4 million. The loans bear an annual interest rate of 6% and mature in two years, unless converted earlier. Upon an occurrence of a default, the loans bear interest at a per annum rate of 12%. Under the operative agreement , the entire principal amount under the notes and accrued interest automatically convert into “Units” (as defined below) upon the earlier to occur of any of the following: (i) the closing of an offering of equity securities of the Company with gross proceeds to the Company greater than $10 million (“Qualified Offering”) (ii) the trading of the Company’s common stock on the over-the counter market or an exchange at a weighted average price of at least $0.52 for fifty (50) consecutive trading days, or (iii) the listing of the Company’s Common Stock on a U.S. National Exchange (each a “Conversion Event”). Each $0.52 of principal amount and accrued interest due shall convert into (a “Unit”), consisting of one share of Common Stock and one three-year warrant exercisable into an additional share of common stock at a per share exercise price of $0.52, provided that, if more favorable to the holder, any principal amount and accrued interest due shall convert into securities on the same basis as such securities are sold in the Qualified Offering. At any time, the holder may convert the principal amount and accrued interest outstanding into Units as provided above. In addition, if a Conversion Event does not occur within 12 months of the issuance date hereof, then the holder, at its option, may convert the outstanding principal amount and accrued interest under this note into either (i) Units as provided above, or (ii) shares of the Company’s common stock at a per share conversion price of $0.40. Since the stock price is greater than the effective conversion price on the measurement date, the conversion feature is considered "beneficial" to the holders and equal to $257 thousand. The difference is treated as issued equity and reduces the carrying value of the host debt; the discount is accreted as deemed interest on the debt. The transaction costs were approximately $176 thousand, out of which $55 thousand as stock based compensation due to issuance of warrants. See also Note 13(d). (d) On November 2, 2016 the Company entered into unsecured convertible note agreements with accredited or offshore investor for an aggregate amount of NIS 1 million ($262 thousand). The loan bear an monthly interest rate of 2% and mature on May 1, 2017, unless converted earlier. The holder, at its option, may convert the outstanding principal amount and accrued interest under this note into either shares of the Company’s common stock at a per share conversion price of $0.52. The Company allocated the principal amount of the convertible loan and the accrued interest thereon based on their fair value. The table below presents the fair value of the instrument issued as of November 2, 2016 and the allocation of the proceed (for the fair value as of November 30, 2016, see Note 15): Total Fair Value (in thousands) November 2, 2016 Embedded derivative component $ 40 Loan component 222 Total $ 262 The transaction costs were approximately $29 thousand, out of which $8 thousand as stock based compensation due to issuance of warrants. See also Note 13(d). |
LOANS
LOANS | 12 Months Ended |
Nov. 30, 2016 | |
LOANS [Text Block] | NOTE 9 – LOANS a. Terms of Long-term Loans Principal Year of November 30, Amount Grant Year Interest Rate Maturity 2016 2015 (in thousands) (in thousands) Long-term loan a (*) € 1,400 2012 4.05% 2022 $ 952 $ 1,086 Long-term loan b € 1,000 2013 6%- 7.5% 2023 1,000 1,089 Long-term loan c € 790 2012-2016 5.5%- 6% 2020-2024 739 802 Long-term loan e € 800 2014 Euribord + 2% 2016 529 Long-term loan f € 1,000 2016 7% 2019 1,063 $ 3,754 $ 3,506 Current portion of loans payable (463 ) (966 ) $ 3,291 $ 2,540 (*) The loan has a business pledge on the Company’s assets at the same value . b. Terms of Short-term Loans and Current Portion of Long Term Loans November 30, Currency Interest Rate 2016 2015 (in thousands) Current portion of loans payable a Euro 4.05% $ 145 $ 139 Current portion of loans payable b Euro 6%- 7.5% 135 166 Current portion of loans payable c Euro 5.5%- 6% 183 132 Current portion of loans payable e Euro Euribord + 2% 529 $ 463 $ 966 Short term-loans* Euro 7% 648 1,334 Short term-loan** Euro 6.3% 529 $ 1,111 $ 2,829 * On various dates from September 14, 2015 through the year 2015, MaSTherCell received short term loans from management and shareholders for a total amount of € 1,247 thousand, which bear an annual interest rate of 7%. No maturity dates were defined. ** On October 30, 2015, MaSTherCell received from ING bank in Belgium a short term credit facility for a maximum amount of € 500 thousand, which bear interest rate of libor plus a margin defined by the bank. On December 2015, MaSTherCell repaid the loan. |
COMMITMENTS
COMMITMENTS | 12 Months Ended |
Nov. 30, 2016 | |
COMMITMENTS [Text Block] | NOTE 10 - COMMITMENTS a. Tel Hashomer Medical Research, Infrastructure and Services Ltd (“THM”). On February 2, 2012, the Company’s Israeli Subsidiary entered into a licensing agreement with THM (the “Licensor”). According to the agreement, the Israeli Subsidiary was granted a worldwide, royalty bearing, exclusive license to transdifferentiation of cells to insulin producing cells, including the population of insulin producing cells, methods of making this population, and methods of using this population of cells for cell therapy or diabetes treatment developed by Dr. Sarah Ferber of THM. As consideration for the license, the Israeli Subsidiary will pay the following to the Licensor: 1) A royalty of 3.5% of net sales; 2) 16% of all sublicensing fees received; 3) An annual license fee of $15 thousand, which commenced on January 1, 2012 and shall be paid once every year thereafter (the “Annual Fee”). The Annual Fee is non-refundable, but it shall be credited each year due, against the royalty noted above, to the extent that such are payable, during that year; and 4) Milestone payments as follows: a) $50 thousand on the date of initiation of phase I clinical trials in human subjects; b) $50 thousand on the date of initiation of phase II clinical trials in human subjects; c) $150 thousand on the date of initiation of phase III clinical trials in human subjects; d) $750 thousand on the date of initiation of issuance of an approval for marketing of the first product by the FDA; and e) $2 million when worldwide net sales of Products (as defined in the agreement) have reached the amount of $150 million for the first time, (the “Sales Milestone”). As of November 30, 2016, the Israeli Subsidiary has not reached any of these milestones. In the event of closing of an acquisition of all of the issued and outstanding share capital of the Israeli Subsidiary and/or consolidation of the Israeli Subsidiary or the Company into or with another corporation (“Exit”), the Licensor shall be entitled to choose whether to receive from the Israeli Subsidiary a one-time payment based, as applicable, on the value of either 5,563,809 shares of common stock of the Company at the time of the Exit or the value of 1,000 shares of common stock of the Israeli Subsidiary at the time of the Exit. In May, 2015, the Israeli Subsidiary entered into a research service agreement with the Licensor. According to the agreement, the Israeli Subsidiary will perform a study at the facilities and use the equipment and personnel of the Sheba Medical Center, for the consideration of approximately $110 thousand for a year. In May 2016, the Israeli Subsidiary renewed the research agreement for an additional year with annual consideration of approximately $ 88thousand. b. Maryland Technology Development Corporation On June 30, 2014, the Company’s U.S. Subsidiary entered into a grant agreement with Maryland Technology Development Corporation (“TEDCO”). TEDCO was created by the Maryland State Legislature in 1998 to facilitate the transfer and commercialization of technology from Maryland’s research universities and federal labs into the marketplace and to assist in the creation and growth of technology based businesses in all regions of the State. TEDCO is an independent organization that strives to be Maryland’s lead source for entrepreneurial business assistance and seed funding for the development of startup companies in Maryland’s innovation economy. TEDCO administers the Maryland Stem Cell Research Fund to promote State funded stem cell research and cures through financial assistance to public and private entities within the State. Under the agreement, TEDCO has agreed to give the U.S Subsidiary an amount not to exceed approximately $406 thousand (the “Grant”). The Grant will be used solely to finance the costs to conduct the research project entitled “Autologous Insulin Producing (AIP) Cells for Diabetes” during a period of two years. On June 21, 2016 TEDCO has approved an extension until June 30, 2017 . On July 22, 2014 and September 21, 2015, the U.S Subsidiary received an advance payment of $406 thousand on account of the grant. Through November 30, 2016, the Company utilized $272 thousand. The amount of grant that was utilized through November 30, 2016, was recorded as a deduction of research and development expenses in the statement of comprehensive loss. c. Department De La Gestion Financiere Direction De L’analyse Financiere (“DGO6”) i. On March 20, 2012, MaSTherCell was awarded an investment grant from the DGO6 of € 1,421 thousand. This grant is related to the investment in the production facility with a coverage of 32% of the investment planned. A first payment of € 568 thousand has been received in August 2013. In December 2016, the DGO6 paid to MaSTherCell € 669 on account of the grant and the remaining grant amount has been declined. ii. On November 17, 2014, the Company's Belgian Subsidiary, received the formal approval from the DGO6 for a € 2.015 million ($2.4 million) support program for the research and development of a potential cure for Type 1 Diabetes. The financial support is composed of a € 1,085 thousand ( 70% of budgeted costs) grant for the industrial research part of the research program and a further recoverable advance of € 930 thousand ( 60% of budgeted costs) of the experimental development part of the research program. On December 9 and 16, 2014, the Belgian Subsidiary received € 651 thousand and € 558 thousand under the grant, respectively. The grants are subject to certain conditions with respect to the Belgian Subsidiary’s work in the Walloon Region. In addition, the DGO6 is also entitled to a royalty upon revenue being generated from any commercial application of the technology. Up through November 30, 2016, an amount of $1.4 million (€ 1.1 million) was recorded as deduction of research and development expenses and an amount of $109 thousand was recorded as advance payments on account of grant. iii. In April 2016, the Belgian Subsidiary received the formal approval from DGO6 for a budgeted € 1,304 thousand ($1,455 thousand) support program for the development of a potential cure for Type 1 Diabetes. The financial support is awarded to the Belgium subsidiary as a recoverable advance payment at 55% of budgeted costs, or for a total of € 717 thousand ($800 thousand). The grant will be paid over the project period. On December 19, 2016, the Belgian Subsidiary received a first payment of € 359 thousand ($374 thousand). iv. On October 8, 2016, the Belgian Subsidiary received the formal approval from the DGO6 for a budgeted € 12.3 million ($12.8 million) support program for the GMP production of AIP cells for two clinical trials that will be performed in Germany and Belgium. The project will be held during a period of three years commencing January 1, 2017. The financial support is awarded to the Belgium subsidiary at 55% of budgeted costs, a total of € 6.8 million ($7 million). The grant will be paid over the project period. On December 19, 2016, the Belgian Subsidiary received a first payment of € 1.7 million ($1.8 million). d. Israel-U.S Binational Industrial Research and Development Foundation (“BIRD”) On September 9, 2015, the Israeli Subsidiary entered into a pharma Cooperation and Project Funding Agreement (CPFA) with BIRD and Pall Corporation, a U.S. company. BIRD will give a conditional grant of $400 thousand each (according to terms defined in the agreement), for a joint research and development project for the use Autologous Insulin Producing (AIP) Cells for the Treatment of Diabetes (the “Project”). The Project started on March 1, 2015. Upon the conclusion of product development, the grant shall be repaid at the rate of 5% of gross sales. The grant will be used solely to finance the costs to conduct the research of the project during a period of 18 months starting on March 1, 2015. Up to date the Israeli Subsidiary received $200 thousand under the grant. On July 28, 2016 BIRD approved an extension till May 31, 2017. Up through November 30, 2016, an amount of $211 thousand was recorded as deduction of research and development expenses and receivable on account of grant. e. Korea-Israel Industrial Research and Development Foundation (“KORIL”) On May 26, 2016, the Israeli Subsidiary entered into a pharma Cooperation and Project Funding Agreement (CPFA) with KORIL and CureCell. KORIL will give a conditional grant of up to $400 thousand each (according to terms defined in the agreement), for a joint research and development project for the use of Autologous Insulin Producing (AIP) Cells for the Treatment of Diabetes (the “Project”). The Project started on June 1, 2016. Upon the conclusion of product development, the grant shall be repaid at the yearly rate of 2.5% of gross sales. The grant will be used solely to finance the costs to conduct the research of the project during a period of 18 months starting on June 1, 2016. On June 2016, the Israeli Subsidiary received $160 thousand under the grant Up through November 30, 2016, an amount of $40 thousand was recorded as deduction of research and development expenses and receivable on account of grant. f. Lease Agreement MaSTherCell has an operational lease agreement for the rent of offices for a period of 12 years expiring on November 30, 2027. The costs per year are € 328 thousand (approximately $348 thousand). g. Collaboration agreement 1) On November 12, 2015, the Company, through its wholly owned Israeli subsidiary, entered into a Collaboration Agreement (the “Collaboration Agreement) with Biosequel LLC, a company incorporated under the laws of Russia (“Biosequel”) to collaborate, on a non-exclusive basis, in carrying out clinical trials and eventually marketing the Company’s products in Russia, Belarus and Kazakhstan. The collaboration is divided into two stages, with the first focused on obtaining the requisite regulatory approvals for conducting clinical trials, as well as performing all clinical and other testing required for market authorization in the defined territory. The second stage will focus on marketing the products and will be subject to successful market acceptance. Biosequel will fund the costs for the first stage, which is expected to last for five or more years, but may terminate earlier if the necessary regulatory approvals are not obtained by the second anniversary of the agreement. The Collaboration Agreement is also terminable under certain limited conditions relating to a party’s insolvency or bankruptcy related event or breach of a material term of the agreement and force majeure events. The Company shall be the sole and exclusive owner of any and all results of the pre-marketing approval R&D and clinical trials. As of the date of this report, Biosequel is in the first stage of the collaboration and preforming the work needed in order to obtain the requisite regulatory approvals for conducting clinical trials. 2) On February 18, 2016, the Israel subsidiary entered into a collaboration agreement with Grand China Energy Group Limited with headquarters in Beijing, China (“Grand China”) to collaborate in carrying out clinical trials and marketing the Company’s autologous insulin producing cell therapy product in the Peoples Republic of China, Hong Kong and Macau, based on achieving certain pre-market development milestones that include Grand China obtaining the requisite regulatory approvals for commercialization of our AIP cells, including performing all clinical and other testing required for market authorization in each jurisdiction in the territory. Upon achieving the pre-market development milestones by Grand China, the parties will collaborate on marketing the products in the territory. Grand China will bear all costs associated with the pre-marketing development efforts in the territory, which is expected to last for approximately four years. Subject to the completion of the pre-marketing development milestones, the Israeli Subsidiary has agreed to grant to Grand China, or a fully owned subsidiary thereof, under a separate sub-license agreement, an exclusive sub-license to the intellectual property underlying solely for commercialization of the Company’s products in each such jurisdiction in the territory where all of the pre-marketing development required to commercialize the AIP cells have been successfully completed by Grand China. Grand China has agreed to pay annual license fees, ongoing royalties based on net sales generated by Grand China and its sublicensees, milestone payments and sublicense fees. As of November 30, 2016, none of the requisite regulatory approvals for conducting clinical trials had been obtained. 3) On March 14, 2016, the Israel subsidiary, entered into a collaboration agreement with CureCell Co., Ltd. (“CureCell”), initially for the purpose of applying for a grant from the Korea Israel Industrial R&D Foundation ("Koril-RDF") for pre-clinical and clinical activities related to the commercialization of Orgenesis Ltd.’s AIP cell therapy product in Korea ("Koril Grant"). Subject to receiving the Koril Grant, the Parties agreed to carry out at their own expense their respective commitments under the work plan approved by Koril-RDF and any additional work plan to be agreed between the Israeli Subsidiary and CureCell. The Israeli Subsidiary will own sole rights to any intellectual property developed from the collaboration which is derived under the Israeli Subsidiary’s AIP cell therapy product, information licensed from THM. Subject to obtaining the requisite approval needed to commence commercialization in Korea, the Israel subsidiary has agreed to grant to CureCell, or a fully owned subsidiary thereof, under a separate sub-license agreement an exclusive sub-license to the intellectual property underlying the Company’s API product solely for commercialization of the Israel subsidiary products in Korea. As part of any such license, CureCell has agreed to pay annual license fees, ongoing royalties based on net sales generated by CureCell and its sublicensees, milestone payments and sublicense fees. Under the agreement, CureCell is entitled to share in the net profits derived by the Israeli Subsidiary from world - 4) On March 14, 2016, Orgenesis Inc. and CureCell entered into a Joint Venture Agreement (“CureCell JVA”) pursuant to which the parties are collaborating in the contract development and manufacturing of cell therapy products in Korea. Under the CureCell JVA, CureCell is to procure, at its sole expense, a GMP facility and appropriate staff in Korea for the manufacture of the cell therapy products. The Company will share with CureCell the Company’s know-how in the field of cell therapy manufacturing, which know-how will not include the intellectual property included in the license from the Tel Hashomer Hospital in Israel to the Israeli subsidiary. The parties intend to pursue the joint venture through a newly established Korean company (the “JV Company”) which each party will have 50% from the participating interest of the JV Company subject to the fulfillment by each Party of his obligations under the CureCell JVA. Under the CureCell JVA, the Company and CureCell each undertook to remit, within two years of the execution of the CureCell JVA, $2 million to the JV Company, of which $1 million is to be in cash and the balance in an in-kind investment, the scope and valuation of which shall be preapproved in writing by CureCell and the Company. The Company’s funding is made by way of a convertible loan. The CureCell JVA provides that, under certain specified conditions, the Company can require CureCell to sell to the Company its participating (including equity) interest in the JV Company in consideration for the issuance of the Company’s common stock based on the then valuation of the JV Company. As of November 30, 2016 the Company remitted to CureCell $595 thousand. The obligations of each party under the CureCell JVA have not been fulfilled as of November 30, 2016. As of November 30, 2016, prior to the formal incorporation of the JV company, the actual joint operations already began. Company's share in the expenses incurred through balance sheet date was $497 thousand and was recorded by the Company as part of its Selling, General and Administrative expenses. h. |
EQUITY
EQUITY | 12 Months Ended |
Nov. 30, 2016 | |
EQUITY [Text Block] | NOTE 11 – EQUITY (CAPITAL DEFICIENCY) a. Share Capital The Company’s common shares are traded on the OTCQB Venture Market under OTC Market Group’s OTCQB tier under the symbol “ORGS”. b. Financings 1) During the year ended November 30, 2016, the Company entered into definitive agreements with accredited and other qualified investors relating to a private placement (the “Private Placement”) of (i) 2,860,578 shares of the Company’s common stock and (ii) three year warrants to purchase up to an additional 2,860,578 shares of the Company’s Common Stock at a per share exercise price of $0.52. The purchased securities were issued pursuant to subscription agreements between the Company and the purchasers for aggregate proceeds to the Company of $1,488 thousand. Furthermore, in certain events the subscribers received anti-dilution protection for issuance at less than their purchase price (See also Note 15). The Company allocated the proceeds from the private placement based on the fair value of the warrants and the price protection derivative components. The residual amount was allocated to the shares. The table below presents the fair value of the instruments issued as of the closing dates and the allocation of the proceeds (as to the fair value as of November 30, 2016, see Note 15): Total Fair Value (in thousands) Warrants component $ 466 Price protection derivative component 84 Shares component 938 Total $ 1,488 2) During the year ended November 30, 2015, the Company entered into definitive agreements with accredited investors relating to a private placement (the “Private Placement”) of (i) 8,083,416 shares of the Company’s common stock and (ii) three year warrants to purchase up to an additional 8,083,416 shares of the Company’s Common Stock at a per share exercise price of $0.52 for aggregate proceeds of $4,203 thousand. Furthermore, in the event the Company issues any common shares or securities convertible into common shares in a private placement for cash at a price less than $0.52 before November 30, 2016, the Company will issue, for no additional consideration, additional common shares to subscribers. This provision was expired as of the date of this report (See also Note 15). The Company allocated the proceeds from the private placement based on the fair value of the warrants and the price protection derivative components. The residual amount was allocated to the shares. The table below presents the fair value of the instruments issued as of the closing date and the allocation of the proceeds (as to the fair value as of November 30, 2016 and 2015, see Note 15): Total Fair Value (in thousands) Warrants component $ 1,390 Price protection derivative component 1,529 Shares component 1,284 Total $ 4,203 c. Credit Facilities On October 30, 2015, the Company entered into securities purchase agreements with two accredited investors pursuant to which these lenders (”Lenders”) furnished to the Company access to a $5 million credit line ( “Credit Facility Agreements”). The facilty terminated on November 30, 2016 without being utilized by the Company. In consideration of the funding commitment under the Credit Facility Agreements, the Company issued to these Lenders warrants to purchase up to an aggregate of 2,358,000 shares of the Company’s Common Stock at a per share exercise price of $0.53 per share (the “Commitment Warrants”). The Warrants become first exercisable on November 30, 2016 and continue to be exercisable through the third anniversary thereof. The fair value of the Commitment Warrants as of the date of issuance was $208 thousand using the Black-Scholes valuation model based on the following assumptions: dividend yield of 0% for all years; expected volatility of 80%; risk free interest of 0.34% and an expected life of one year. d. Contingent Shares According to the SEA, in case MaSTherCell is repaying the principal amount and the accrued interest of the Convertible Bonds, the Consideration Shares will be reduced and released back to the Company. To that effect, the number of Consideration Shares to be released back to the Company, shall be determined by dividing the subscription amount of the outstanding convertible bonds plus interest owed thereunder (converted into USD according to the currency exchange rate applicable on the day of conversion) by the consideration and by applying the resulting quotient to actual total number of Consideration shares. During January 2017, MaSTherCell repaid amounts owing under the bonds to all but one bondholder for aggregate payments of $1.7 million (€ 1.5 million). On January 17, 2017, one of the bondholders agreed to extend the duration of his convertible bond until March 21, 2017. To that effect 3,157,716 shares out of the Consideration Shares have been released back to the Company and have been transferred into treasury shares . See Note 20(d). e. Warrants As part of the Company’s private placements as described in Notes 11b, the Company issued warrants as follows: (1) Warrants which are subject to exercise price adjustments - presented as a financial liability as of November 30, 2016 Exercise Number of Price / Warrants Adjusted Issuance Issued and Exercise Expiration Date Outstanding Price Date October 2015 192,308 $ 0.52 March 2018 November 2015 7,891,109 $ 0.52 November 2018 December 2015 2,111,038 $ 0.52 December 2018 February 2016 192,308 $ 0.52 February 2019 March 2016 769,231 $ 0.52 March 2019 April 2016 490,293 $ 0.52 April 2019 May 2016 288,462 $ 0.52 May 2019 June 2016 865,384 $ 0.52 June 2019 July 2016 120,192 $ 0.52 July 2017 12,920,325 For the fair value calculation of these warrants, see Note 15. (2) Warrants which are not subject to exercise price adjustments – presented in equity as of November 30, 2016 Exercise Price / Number of Adjusted Grant Warrants Issued Exercise Expiration Date and Outstanding Price Date November 2013 200,000 $ 0.5 November 2018 December 2013 1,032,695 $ 0.5 March 2017 March 2014 713,023 $ 0.52 March 2017 April 2014 384,615 $ 0.52 April 2017 July 2014 192,308 $ 0.52 July 2017 July 2014 144,230 $ 0.52 July 2017 August 2014 115,385 $ 0.52 August 2017 October 2015 2,358,490 $ 0.52 October 2018 December 2015 30,613 $ 0.52 December 2018 April 2016 288,461 $ 0.52 April 2019 August 2016 215,655 $ 0.52 August 2019 September 2016 7,692 $ 0.52 September 2019 October 2016 7,701 $ 0.52 October 2019 November 2016 840,369 $ 0.52 November 2019 6,531,237 |
LOSS PER SHARE
LOSS PER SHARE | 12 Months Ended |
Nov. 30, 2016 | |
LOSS PER SHARE [Text Block] | NOTE 12 – LOSS PER SHARE The following table sets forth the calculation of basic and diluted loss per share for the periods indicated: Year Ended November 30, 2016 2015 (in thousands, except per share data) Basic: Loss for the year $ 9,194 $ 4,461 Weighted average number of common shares outstanding 102,258,854 55,798,416 Loss per common share $ 0.09 $ 0.08 Diluted Loss for the year $ 9,194 4,461 Changes in fair value of embedded 1,272 Change in fair value of warrants 559 Loss for the year $ 9,194 6,292 Weighted average number of shares used in the computation of basic loss per share 102,258,854 55,798,416 Number of dilutive shares related to convertible bonds 873,380 Number of dilutive shares related to warrants 249,116 Weighted average number of common shares outstanding 102,258,854 56,920,912 Loss per common share $ 0.09 $ 0.11 Basic loss per share for the year ended November 30, 2016, does not include 8,173,484 contingent shares see also Note 11(d). Diluted loss per share does not include, 17,045,564 shares underlying outstanding options, 19,451,562 shares issuable upon exercise of warrants, 386,537 shares due to stock-based compensation to service providers and 7,863,205 shares upon conversion of convertible notes for the year ended November 30, 2016, because the effect of their inclusion in the computation would be anti-dilutive. Basic loss per share for the year ended November 30, 2015, does not include 42,401,724 of redeemable common stock since the contingent criteria regarding the Unwind Option had not been met as of November 30, 2015. Diluted loss per share does not include 42,401,724 redeemable common stock, 12,899,314 shares underlying outstanding options, 7,546,750 shares issuable upon exercise of warrants and 1,100,000 shares upon conversion of convertible notes for the year ended November 30, 2015, because the effect of their inclusion in the computation would be anti-dilutive. |
STOCK BASED COMPENSATION
STOCK BASED COMPENSATION | 12 Months Ended |
Nov. 30, 2016 | |
STOCK BASED COMPENSATION [Text Block] | NOTE 13 – STOCK-BASED COMPENSATION a. Global Share Incentive Plan As of November 30, 2016 , the Company has one stock option plan, the Global share incentive plan (2012) (the “Plan”), under which, the Company had reserved a pool of 12,000,000 shares of the Company’s common stock, which may be issued at the discretion of the Company's board of directors from time to time. Under this Plan, each option is exercisable into one share of common stock of the Company. The options may be exercised after vesting and in accordance with the vesting schedule that will be determined by the Company's board of directors for each grant. The maximum contractual life term of the options is 10 years. b. Options Granted to Employees and Directors Below is a table summarizing all of the options grants to employees and made during the years ended November 30, 2016, and 2015: Year of No. of options Exercise price Vesting period Fair value at grant Expiration grant granted (in thousands) period Directors 2015 500,000 $ 0.53 vest immediately $ 136 5 Employees 2016 3,046,250 $ $0.36 vest immediately- 2 years $ 697 10 The fair value of each stock option grant is estimated at the date of grant using a Black Scholes option pricing model. The volatility is based on historical volatility of the Company , by statistical analysis of the weekly share price for the last two years. The expected term is the mid-point between the vesting date and the maximum contractual term for each grant equal to the contractual life. The fair value of each option grant is based on the following assumptions: Year Ended November 30, 2016 2015 Value of one common share $ 0.28 -$0.36 $ 0.53 Dividend yield 0% 0% Expected stock price volatility 87.4%- 89% 85.7% Risk free interest rate 1.32%- 1.33% 1.68% Expected term (years) 5 2.5 A summary of the Company's stock options granted to employees and directors as of November 30, 2016 and 2015 and changes for the years then ended is presented below: 2016 2015 Weighted Weighted Average Average Exercise Exercise Number of Price Number of Price Options $ Options $ Options outstanding at the beginning of the year 10,341,210 0.16 12,809,455 0.27 Changes during the year: Granted 3,046,250 0.19 500,000 0.53 Expired (2,440,120 ) 0.68 Forfeited (528,125 ) 0.5 Re-designation to non- employee (see Note 10g) (1,641,300 ) 0.28 Options outstanding at end of the year 11,746,160 0.16 10,341,210 0.16 Options exercisable at end of the year 10,557,105 0.14 8,696,162 0.09 The following table presents summary information concerning the options granted and exercisable to employees and directors outstanding as of November 30, 2016: Weighted Average Aggregate Aggregate Exercise Number of Remaining Intrinsic Number of Exercisable Prices Outstanding Contractual Value Exercisable Options $ Options Life $ Options Value $ (in thousands) (in thousands) 0.0001 5,544,155 6.8 2,162 5,000,344 1 0.001 3,338,285 5.2 1,299 3,338,285 3 0.36 300,000 9.4 9 37,500 14 0.5 400,000 7.7 400,000 200 0.53 500,000 3.5 500,000 265 0.75 250,000 6.6 150,000 113 0.79 942,520 5.6 754,016 596 0.85 471,200 5.5 376,960 320 11,746,160 6.1 3,470 10,557,105 1,512 Costs incurred with respect to stock-based compensation for employees and directors for the years ended November 30, 2016 and 2015 were $1,103 thousand and $713 thousand, respectively. As of November 30, 2016, there was $577 thousand of unrecognized compensation costs related to non-vested employees and directors stock options, to be recorded over the next 3.42 years. c. Options Granted to Non- Employees Below is a table summarizing all the compensation granted to consultants and service providers during the years ended November 30, 2016: Year Ended November 30, 2016 No. of options Exercise price Vesting period Fair value at grant Expiration granted (in thousands) period Options 1,000,000 * $ 0.3 Quarterly over a period $ 187 4 years of one year * The options shall immediately vest prior to such one-year period if there is an acquisition of 40% or more of the Company or upon funding of $5 million. Year Ended November 30, 2015 No. of options Exercise price Vesting period Fair value at grant Expiration granted (in thousands) period Options 200,000 $ 0.65, $0.52 Yearly over a period of $ 49 5 years five years The fair value of each stock option grant is estimated at the date of grant using the Black-Scholes valuation model. The volatility is based on historical volatility of the Company for the last two years. The expected term is equal to the contractual life, based on management estimation for the expected dates of exercising of the options. The fair value of each grant is based on the following assumptions: Year Ended November 30, 2016 2015 Value of one common share $ 0.3, $0.34 $ 0.65, $0.53 Dividend yield 0% 0% Expected stock price volatility 87%, 95% 86%, 89% Risk free interest rate 1.19%, 2.34% 1.34%, 1.42% Expected term (years) 1 - 9 5 A summary of the status of the stock options granted to consultants and service providers as of November 30, 2016, and 2015 and changes for the years then ended is presented below: 2016 2015 Weighted Weighted Average Average Exercise Exercise Number of Price Number of Price Options $ Options $ Options outstanding at the beginning of the year 2,658,104 0.75 2,458,104 0.75 Changes during the year: Granted 1,000,000 0.3 200,000 0.51 Expired Re-designation to non- employee (see Note 10g) 1,641,300 0.28 Options outstanding at end of the year 5,299,404 0.52 2,658,104 0.75 Options exercisable at end of the year 4,647,404 0.51 1,521,624 0.65 The following table presents summary information concerning the options granted and exercisable to consultants and service providers outstanding as of November 30, 2016 (in thousands, except per share data): Weighted Weighted Average Average Aggregate Number of Aggregate Exercise Number of Remaining Exercise Intrinsic Exercisable Exercisable Prices Outstanding Contractual Price Value* Options Options $ Options Life $ $ Value $ (in thousands) (in thousands) 0.28 1,641,300 9.4 0.28 181 1,641,300 460 0.3 1,000,000 0.25 0.3 90 1,000,000 300 0.50 1,080,000 1.67 0.50 648,000 324 0.54 100,000 3.53 0.54 20,000 10 0.61 100,000 5.98 0.61 80,000 49 0.65 100,000 3.2 0.65 20,000 13 0.69 706,904 5.5 0.69 706,904 488 0.96 100,000 6.35 0.96 60,000 58 1.40 471,200 5.38 1.40 471,200 660 5,299,404 4.7 0.75 $ 271 4,647,404 $ 2,362 Costs incurred with respect to options granted to consultants and service providers for the year ended November 30, 2016 and 2015 was $2,543441 and $90 thousand, respectively. As of November 30, 2016, there was $167 thousand of unrecognized compensation costs related to non-vested consultants and service providers, to be recorded over the next 4.55 years. d. Warrants Issued to Non-Employees During the year ended November 30, 2016, the Company granted to several consultants 1,071,417 warrants each exercisable at $0.52 per share for three years. The fair value of those options as of the date of grant using the Black-Scholes valuation model was $219 thousand, out of which amount of $64 thousand is related to 271,417 warrants that were granted as a success fee with respect to the issuance of the convertible notes during the year ended November 30, 2016. e. Shares Issued to Non-Employees 1) On March 1, 2016, the Company entered into a consulting agreement for professional services for a period of one year. Under the terms of the agreement, the Company agreed to grant the consultant 250 thousand shares of restricted common stock. The fair value of the Company’s common stock as of the date of grant was $0.30. In addition, the Company will pay a retainer fee of $10,000 per month, consisting of $5,000 cash per month and $5,000 shall be payable in shares of the Company’s common stock at a value equal to the price paid for the equity capital raise of at least $3 million (the “financing”). The cash fee per month and shares shall be issued upon completion of the financing. The fair value of the shares as of November 30, 2016, was $34 thousand. 2) On April 27, 2016, the Company entered into a consulting agreement for professional services for a period of one year with two consultants. Under the terms of the agreements, the Company agreed to grant the consultants an aggregate of 1.2 million shares of restricted common stock that vested on grant date. The fair value of the shares as of the date of grant was $336 thousand. 3) On May 1, 2016, the Company entered into a consulting agreement for professional services for a period of one year. Under the terms of the agreement, the Company agreed to grant a consultant 1 million shares of restricted common stock, of which the first 350,000 shares will vest immediately, 350,000 shares are to vest 90 days following the agreement date and 300,000 shares are schedule to vest 180 following the agreement date. The fair value of the shares as of the date of grant of the first two tranches was $249 thousand. With respect to last tranche, the fair value of the shares as of November 30, 2016, was $92. |
TAXES
TAXES | 12 Months Ended |
Nov. 30, 2016 | |
TAXES [Text Block] | NOTE 14 – TAXES a. The Company and the US Subsidiary The Company and the US Subsidiary are taxed according to tax laws of the United States. The income of the Company is taxed in the United States at a federal tax rate of up to 35% and state tax rate of 8.25% . b. The Israeli Subsidiary The Israeli Subsidiary is taxed according to Israeli tax laws. In January 2016, the Law for the Amendment of the Income Tax Ordinance (No. 216) was published, enacting a reduction of corporate tax rate in 2016 and thereafter, from 26.5% to 25%. In December 2016, the Economic Efficiency Law (Legislative Amendments for Implementing the Economic Policy for the 2017 and 2018 Budget Year), 2016 was published, introducing a gradual reduction in corporate tax rate from 25% to 23%. However, the law also included a temporary provision setting the corporate tax rate in 2017 at 24%. As a result, the corporate tax rate will be 24% in 2017 and 23% in 2018 and thereafter. c. The Belgian Subsidiaries The Belgian Subsidiaries are taxed according to Belgian tax laws. The regular corporate tax rate in Belgium for 2015 and 2016 is 34%. d. Tax Loss Carryforwards 1) As of November 30, 2016, the Company had net operating loss (NOL) carry forwards equal to $6.6 million that is available to reduce future taxable income. The Company’s NOL carry forward is equal to $138 thousand, and may be restricted under Section 382 of the Internal Revenue Code (“IRC”). IRC Section 382 applies whenever a corporation with an NOL experiences an ownership change. As a result of Section 382, the taxable income for any post change year that may be offset by a pre-change NOL may not exceed the general Section 382 limitation, which is the fair market value of the pre-change entity multiplied by the long-term tax exempt rate. 2) U.S. Subsidiary - As of November 30, 2016, the U.S. Subsidiary had approximately $722 thousand of NOL carry forwards that are available to reduce future taxable income with no limited period of use. 3) Israeli Subsidiary - As of November 30, 2016, the Israeli Subsidiary had approximately $3.8 million of NOL carry forwards that are available to reduce future taxable income with no limited period of use. 4) Belgian Subsidiaries - As of November 30, 2016, the Belgian Subsidiaries had approximately $11.7 million (€ 11.1 million) of NOL carry forwards that are available to reduce future taxable income with no limited period of use. e. Deferred Taxes The following table presents summary of information concerning the Company’s deferred taxes as of the periods ending November 30, 2016 and 2015 (in thousands): November 30, 2016 2015 (U.S dollars in thousands) Net operating loss carry forwards $ 8,278 $ 5,658 Research and development expenses 655 268 Employee benefits 152 31 Property and equipment (355 ) (178 ) Convertible bonds 1 45 Deferred income (325 ) (508 ) Intangible assets (5,117 ) (5,661 ) Less: Valuation allowance (5,151 ) (2,982 ) Net deferred tax liabilities $ (1,862 ) $ (3,327 ) Realization of deferred tax assets is contingent upon sufficient future taxable income during the period that deductible temporary differences and carry forwards losses are expected to be available to reduce taxable income. As the achievement of required future taxable income is not considered more likely than not achievable, the Company and all of its subsidiaries except MaSTherCell have recorded full valuation allowance. The changes in valuation allowance are comprised as follows: Year Ended November 30, 2016 2015 (U.S dollars in thousands) Balance at the beginning of year $ (2,982 ) $ (1,870 ) Additions during the year (2,169 ) (1,112 ) Balance at end of year $ (5,151 ) $ (2,982 ) f. Reconciliation of the Theoretical Tax Expense to Actual Tax Expense The main reconciling item between the statutory tax rate of the Company and the effective rate is the provision for full valuation allowance with respect to tax benefits from carry forward tax losses. g. Tax Assessments 1) The Company - As of November 30, 2016, the Company has received a final tax assessment up to the year 2010. 2) U.S. Subsidiary and the Israeli Subsidiary - As of November 30, 2016, the U.S. Subsidiary and the Israeli Subsidiary have not received any final tax assessment. 3) Belgian Subsidiary - As of November 30, 2016, the Belgian Subsidiary has received a final tax assessment for the year 2014. 4) MaSTherCell - As of November 30, 2016, MaSTherCell has received a final tax assessment for the years 2012 to 2015. h. Uncertain Tax Provisions As of November 30, 2016, the Company has not accrued a provision for uncertain tax positions. |
FAIR VALUE PRESENTATION
FAIR VALUE PRESENTATION | 12 Months Ended |
Nov. 30, 2016 | |
FAIR VALUE PRESENTATION [Text Block] | NOTE 15 - FAIR VALUE PRESENTATION The Company measures fair value and discloses fair value measurements for financial assets and liabilities. Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting standard establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below: • Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. • Level 2: Observable inputs that are based on inputs not quoted on active markets, but corroborated by market data. • Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs, to the extent possible, and considers credit risk in its assessment of fair value. As of November 30, 2016, and 2015, the Company’s liabilities that are measured at fair value and classified as level 3 fair value are as follows (in thousands): November 30, November 30, 2016 2015 Level 3 Level 3 Warrants (1) $ 1,843 $ 1,382 Price protection derivative (1) 76 1,533 Embedded derivatives convertible loans *(1) 240 289 Put option derivative (1) 273 Convertible bonds (2) $ 1,818 $ 1,888 * The embedded derivative is presented in the Company's balance sheets on a combined basis with the related host contract (the convertible loans). (1) The fair value is determined by using a Monte Carlo Simulation Model. This model, in contrast to the closed form model, such as the Black-Scholes Model, enables the Company to take into consideration the conversion price changes over the conversion period of the instrument, and therefore is more appropriate in this case. (2) The fair value of the convertible bonds described in Note 3 is determined by using a binomial model for the valuation of the embedded derivative and the fair value of the bond was calculated based on the effective rate on the valuation date ( 6%). The binomial model used the forecast of the Company share price during the convertible bond's contractual term. Since the convertible bond is in Euro and the model is in USD, the Company has used the Euro/USD forward rates for each period. In order to solve for the embedded derivative fair value, the calculation was performed as follows: • Stage A - The model calculates a number of potential future share prices of the Company based on the volatility and risk-free interest rate assumptions. • Stage B - the embedded derivative value is calculated "backwards" in a way that takes into account the maximum value between holding the bonds until maturity or converting the bonds. The following table presents the assumptions that were used for the models as of November 30, 2016: Price Protection Derivative and Embedded Put Option Warrants Derivative Derivative Fair value of shares of common stock $ 0.39 $ 0.39 Expected volatility 94%- 103% 103% 63% Discount on lack of marketability 16% - Risk free interest rate 0.57%- 1.28% 0.38%- 0.62% 0.9% Expected term (years) 1.9 - 2.6 0.08 - 0.42 Expected dividend yield 0% 0% Expected capital raise dates Q1- 2017 Probability of external Investment in 20% Atvio Orgenesis cost of debt 26% Revenues Multiplier distribution 3.34 The fair value of the convertible bonds is equal to their principal amount and the aggregate accrued interest. The following table presents the assumptions that were used for the models as of November 30, 2015: Price Protection Derivative and Embedded Convertible Warrants Derivative Bonds Fair value of shares of common stock $ 0.33 $ 0.33 $ 0.33 Expected volatility 87%- 98% 87% 88% Discount on lack of marketability 14% - 18% Risk free interest rate 0.44%- 1.24% 0.11%- 0.49% 0.42% Expected term (years) 2.9 - 3 0.08 - 0.87 0.8 Expected dividend yield 0% 0% 0% Expected capital raise dates Q2 2016 -Q4 2016, Q4 2017 The table below sets forth a summary of the changes in the fair value of the Company’s financial liabilities classified as Level 3 for the year ended November 30, 2016: Convertible Price Put Option Embedded Bonds Protection Derivative Warrants Derivatives Derivative (in thousands) Balance at beginning of the year $ 1,382 $ 289 $ 1,888 $ 1,533 $ Additions 802 40 120 273 Conversion (10 ) Changes in fair value related to Price Protection Derivative expired* (108 ) Changes in fair value during the period (341 ) (87 ) (84 ) (1,469 ) Changes in fair value due to extinguishment of convertible loan 8 Translation adjustments 14 Balance at end of the year $ 1,843 $ 240 $ 1,818 $ 76 $ 273 (*) During the twelve months ended November 30, 2016, 11,732,916 Price Protection Derivative have expired. There were no transfers to Level 3 during the twelve months ended November 30, 2016. The table below sets forth a summary of the changes in the fair value of the Company’s financial liabilities classified as Level 3 for the year ended November 30, 2015: Price Embedded Convertible Protection Warrants Derivatives Bonds Derivative (in thousands) Balance at beginning of the year $ 560 $ 992 $ $ Additions 1,390 112 3,234 1,526 Changes in fair value related to warrants expired* (525 ) 7 Changes in fair value during the period (43 ) (815 ) (1,221 ) Translation adjustments (125 ) Balance at end of the year $ 1, 382 $ 289 $ 1,888 $ 1,533 (*) During the twelve months ended November 30, 2015, 1,826,718 warrants had expired. There were no transfers to or from Level 3 during the twelve months ended November 30, 2015. The Company has performed a sensitivity analysis of the results for the warrants Base - 10% Base Base+ 10% (in thousands) As of November 30, 2016 $ 1,662 $ 1,843 $ 2,008 The Company has performed a sensitivity analysis of the results for the price protection derivative Base - 10% Base Base+ 10% (in thousands) As of November 30, 2016 $ 75 $ 76 $ 77 The Company has performed a sensitivity analysis of the results for the Put Option Derivative Base - 50% Base Base+ 50% (in thousands) As of November 30, 2016 $ (261 ) $ (273 ) $ (280 ) |
REVENUES
REVENUES | 12 Months Ended |
Nov. 30, 2016 | |
REVENUES [Text Block] | NOTE 16 – REVENUES Year Ended November 30, 2016 2015 (in thousands) Services $ 4,683 $ 1,924 Goods 1,714 1,050 Total $ 6,397 $ 2,974 |
RESEARCH AND DEVELOPMENT EXPENS
RESEARCH AND DEVELOPMENT EXPENSES, NET | 12 Months Ended |
Nov. 30, 2016 | |
RESEARCH AND DEVELOPMENT EXPENSES, NET [Text Block] | NOTE 17 – RESEARCH AND DEVELOPMENT EXPENSES, NET Year Ended November 30, 2016 2015 (in thousands) Total expenses $ 2,637 $ 1,860 Less grant (480 ) (793 ) Total $ 2,1 57 $ 1,067 |
FINANCIAL EXPENSES (INCOMES), N
FINANCIAL EXPENSES (INCOMES), NET | 12 Months Ended |
Nov. 30, 2016 | |
FINANCIAL EXPENSES (INCOMES), NET [Text Block] | NOTE 18 – FINANCIAL EXPENSES (INCOME), NET Year Ended November 30, 2016 2015 (in thousands) Decrease in fair value of warrants and financial liabilities measured at fair value $ (1,587 ) $ (2,596 ) Stock-based compensation related to warrants granted due to issuance of credit facility 208 Interest expense on convertible loans 694 726 Foreign exchange loss, net 31 50 Other income (5 ) (30 ) Total $ (659 ) $ (1,850 ) |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Nov. 30, 2016 | |
RELATED PARTY TRANSACTIONS [Text Block] | NOTE 19- RELATED PARTY TRANSACTIONS November 30, 2016 2015 (in thousands) Management and consulting fees to the Chairman of the Board $ 30 $ 57 Compensation to the nonexecutive directors $ 54 $ 71 Convertible loan from a related Fund* $ 350 * The convertible loan was granted with the same terms as the convertibles loans from third parties |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Nov. 30, 2016 | |
SUBSEQUENT EVENTS [Text Block] | NOTE 20- SUBSEQUENT EVENTS a. During December 2016 and January 2017, the Company entered into unsecured convertible notes agreements with accredited or offshore investors for an aggregate gross amount of $3.5 million. The notes bear an annual interest rate of 6% and mature by six months till two years from the issuance date, unless earlier converted subject to the terms defined in the agreements. From the above investments, the Company remitted to MaSTherCell the remain unpaid capital of $1 million (€932 thousand), in compliance with its obligations. b. On December 16, 2016, the Company entered into unsecured convertible notes agreements with accredited or offshore investor for an aggregate amount of $250 thousand. The notes have no interest rate and mature by six months unless earlier converted any portion of the outstanding principal amount and all accrued but unpaid interest thereon into a number of common shares of the Company at a price of $0.4 per share. Upon the execution of the agreement the Company shall issue to the investor warrants to purchase up to 48,077 shares of the Company’s common stock exercisable from the date of issuance through the third anniversary of the termination time), at a per share exercise price of $0.52. c. In February 2017, the Company entered into unsecured convertible notes agreements with accredited or offshore investors for an aggregate amount of $100 thousand. The notes have 6% interest rate and mature by one year unless earlier converted any portion of the outstanding principal amount and all accrued but unpaid interest thereon into a number of common shares of the Company at a price of $0.52 per share. Upon the execution of the agreement the Company shall issue to the investors warrants to purchase up to 96,154 shares of the Company’s common stock exercisable from the date of issuance through the third anniversary of the termination time, at a per share exercise price of $0.52. d. In January 2017, the Company entered into definitive agreements with accredited investors relating to a private placement of (i) 596,155 shares of the Company’s common stock and (ii) three year warrants to purchase up to an additional 596,155 shares of the Company’s Common Stock at a per share exercise price of $0.52. The purchased securities were issued pursuant to subscription agreements between the Company and the purchasers for aggregate proceeds to the Company of $310 thousand e. During January 2017 MaSTherCell repaid all but one of its bondholders and the aggregate payment amounted to $1.7 million (€1.5 million). On January 17, 2017, the remain bondholder agreed to extend the duration of his Convertible bond with a principal amount of €100,000 until March 21, 2017, (the “New Maturity Date”) and the convertible bonds will continue to accrue interest as provided in the original agreement. In consideration of the extension, the Company agreed to issue to the bondholder warrants to purchase 102,822 shares of Orgenesis common stock. The Warrants will be exercisable over a three-year period at a per share exercise price of $0.52. On the New Maturity Date, the bondholder can elect to sell his bonds to the Company at a price equal to their face value, or will convert the entire outstanding Principal Amount into shares of common stock of the Company rate of $0.22 per share. In February, the Company returned from the escrow arrangement a total of 3,157,716 Consideration Shares to treasury, in accordance with the terms of the SEA. f. On January 12, 2017, the Company repaid the outstanding principal amount and accrued interest in total amount of $51 thousand of convertible loans that were issued during September 2016. The Company has entered into definitive agreements with an institutional investor for the private placement of units of the Company’s securities for aggregate subscription proceeds to the Company of $16 million. The subscription proceeds are payable on a periodic basis through August 2018. Each Unit of securities placed is comprised of one share of the Company’s common stock and a warrant, exercisable over a three-year period from the date of issuance, to purchase one additional share of Common Stock at a per share exercise price of $0.52. Each periodic payment of subscription proceeds will be evidenced by the Company’s standard securities subscription agreement. g. On February 16, 2017, the Investor and the Company closed on the initial payment of $1 million of the subscription proceeds and, in connection therewith, the Company issued to the investor 1,923,077 shares of the Company’s common stock and warrants to purchase up to an additional 1,923,077 shares of the Company’s common stock. h. On February 27, 2017, the Company and Admiral entered into an agreement resolving the payment of amounts owed to Admiral. Under the terms of the settlement agreement, Admiral extended the maturity date to June 30, 2018. The Company agreed to pay to Admiral, on March 1, 2017, $1,500 thousand on account of the approximately $1.9 million owed and outstanding to Admiral. Further, the Company agreed to pay to Admiral, commencing April 2017, $125 thousand each calendar month to reduce the amounts outstanding and also agreed to remit from the equity investment suscription proceeds raised after February 28, 2017 of $500 thousand or more, 20% of such proceeds, and of $1 million or more, 25% of such proceeds. |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Nov. 30, 2016 | |
Use of Estimates in the Preparation of Financial Statements [Policy Text Block] | a. Use of Estimates in the Preparation of Financial Statements The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statement date and the reported expenses during the reporting periods. Actual results could differ from those estimates. As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to the valuation of stock based compensation, valuation of financial instruments measured at fair value and valuation of impairment of goodwill and intangible assets. |
Business Combination [Policy Text Block] | b. Business Combination The Company allocates the purchase price of an acquired business to the tangible and intangible assets acquired and liabilities assumed based upon their estimated fair values on the acquisition date. Any excess of the purchase price over the fair value of the net assets acquired is recorded as goodwill. Acquired in-process backlog, customer relations, brand name and know how are recognized at fair value. The purchase price allocation process requires management to make significant estimates and assumptions, especially at the acquisition date with respect to intangible assets. Direct transaction costs associated with the business combination are expensed as incurred. The allocation of the consideration transferred in certain cases may be subject to revision based on the final determination of fair values during the measurement period, which may be up to one year from the acquisition date. The Company includes the results of operations of the business that it has acquired in its consolidated results prospectively from the date of acquisition. |
Cash equivalents [Policy Text Block] | c. Cash equivalents The Company considers all short term, highly liquid investments, which include short term bank deposits with original maturities of three months or less from the date of purchase, that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash, to be cash equivalents. |
Restricted Cash [Policy Text Block] | d. Restricted Cash The company has restricted cash deposited as a guarantee for the use of the Company's credit card. The Company classifies these amounts as a non-current asset since the Company expects to continue the use of the credit card for the foreseeable future. |
Research and Development, net [Policy Text Block] | e. Research and Development, net Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of salaries, stock-based compensation expenses, payroll taxes and other employees' benefits, lab expenses, consumable equipment and consulting fees. All costs associated with research and developments are expensed as incurred. Participation from government departments and from research foundations for development of approved projects is recognized as a reduction of expense as the related costs are incurred. |
Principles of Consolidation [Policy Text Block] | f. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned Subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. |
Non Marketable Equity Investments [Policy Text Block] | g. Non Marketable Equity Investments The Company’s investments in certain non-marketable equity securities in which it has the ability to exercise significant influence, but does not control through variable interests or voting interests, are accounted for under the equity method of accounting and presented as Investment in associates, net, in the Company’s consolidated balance sheets. Under the equity method, the Company recognizes its proportionate share of the comprehensive income or loss of the investee. The Company’s share of income and losses from equity method investments is included in share in losses of associated company. The Company reviews its investments accounted for under the equity method for possible impairment, which generally involves an analysis of the facts and changes in circumstances influencing the investments. |
Functional Currency [Policy Text Block] | h. Functional Currency The currency of the primary economic environment in which the operations of the Company and part of its Subsidiaries are conducted is the U.S. dollar (“$” or “dollar”). The functional currency of the Belgian Subsidiaries is the Euro (“€” or “Euro”). Most of the Company’s expenses are incurred in dollars and the source of the Company’s financing has been provided in dollars. Thus, the functional currency of the Company and its other subsidiaries is the dollar. Transactions and balances originally denominated in dollars are presented at their original amounts. Balances in foreign currencies are translated into dollars using historical and current exchange rates for nonmonetary and monetary balances, respectively. For foreign transactions and other items reflected in the statements of operations, the following exchange rates are used: (1) for transactions – exchange rates at transaction dates or average rates and (2) for other items (derived from nonmonetary balance sheet items such as depreciation) – historical exchange rates. The resulting transaction gains or losses are recorded as financial income or expenses. The financial statements of the Belgian Subsidiaries are included in the consolidated financial statements, translated into U.S. dollars. Assets and liabilities are translated at year-end exchange rates, while revenues and expenses are translated at yearly average exchange rates during the year. Differences resulting from translation of assets and liabilities are presented as other comprehensive income. |
Inventory [Policy Text Block] | i. Inventory Inventory is stated at the lower of cost or net realizable value with cost determined under the first-in-first-out (FIFO) cost method. The entire balance of inventory at November 30, 2016, consists of raw material. |
Property and Equipment [Policy Text Block] | j. Property and Equipment Property and equipment are recorded at cost and depreciated by the straight-line method over the estimated useful lives of the related assets. Annual rates of depreciation are presented in the table below: Weighted Average Useful Life (Years) Production facility 10 Laboratory equipment 5 Office equipment and computers 3 - 5 |
Intangible Assets [Policy Text Block] | k. Intangible Assets Intangible assets and their useful lives are as follows: Weighted Average Amortization Recorded at Useful Life (Years) Comprehensive Loss Line Item Backlog 1.75 Cost of revenues Customer Relationships 7.75 Amortization of intangible assets Brand 9.75 Amortization of intangible assets Know-How 11.75 Amortization of intangible assets Intangible assets are recorded at acquisition cost less accumulated amortization and impairment. Definite lived intangible assets are amortized over their estimated useful life using the straight-line method, which is determined by identifying the period over which the cash flows from the asset are expected to be generated. |
Goodwill [Policy Text Block] | l. Goodwill Goodwill represents the excess of the purchase price of acquired business over the estimated fair value of the identifiable net assets acquired. Goodwill is not amortized but is tested for impairment at least annually (at November 30), at the reporting unit level or more frequently if events or changes in circumstances indicate that the asset might be impaired. The goodwill impairment test is applied by performing a qualitative assessment before calculating the fair value of the reporting unit. If, on the basis of qualitative factors, it is considered not more likely than not that the fair value of the reporting unit is less than the carrying amount, further testing of goodwill for impairment would not be required. Otherwise, goodwill impairment is tested using a two-step approach. The first step involves comparing the fair value of the reporting unit to its carrying amount. If the fair value of the reporting unit is determined to be greater than its carrying amount, there is no impairment. If the reporting unit’s carrying amount is determined to be greater than the fair value, the second step must be completed to measure the amount of impairment, if any. The second step involves calculating the implied fair value of goodwill by deducting the fair value of all tangible and intangible assets, excluding goodwill, of the reporting unit from the fair value of the reporting unit as determined in step one. The implied fair value of the goodwill in this step is compared to the carrying value of goodwill. If the implied fair value of the goodwill is less than the carrying value of the goodwill, an impairment loss equivalent to the difference is recorded. |
Impairment of Long-lived Assets [Policy Text Block] | m. Impairment of Long-lived Assets The Company reviews its property and equipment, intangible assets subject to amortization and other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset class may not be recoverable. Indicators of potential impairment include: an adverse change in legal factors or in the business climate that could affect the value of the asset; an adverse change in the extent or manner in which the asset is used or is expected to be used, or in its physical condition; and current or forecasted operating or cash flow losses that demonstrate continuing losses associated with the use of the asset. If indicators of impairment are present, the asset is tested for recoverability by comparing the carrying value of the asset to the related estimated undiscounted future cash flows expected to be derived from the asset. If the expected cash flows are less than the carrying value of the asset, then the asset is considered to be impaired and its carrying value is written down to fair value, based on the related estimated discounted cash flows. There were no impairment charges in 2016 and 2015. |
Revenue Recognition [Policy Text Block] | n. Revenue Recognition The Company recognizes revenue for services linked to cell process development and cell manufacturing services based on individual contracts in accordance with Accounting Standards Codification (“ASC”) 605, Revenue Recognition, The Company also incurs revenue from selling of some consumables which are incidental to the services provided as foreseen in the clinical services contracts. Such revenue is recognized upon delivery of the processed cells in which they were consumed. |
Financial Liabilities Measured at Fair Value [Policy Text Block] | o. Financial Liabilities Measured at Fair Value 1) Fair Value Option Topic 815 provides entities with an option to report certain financial assets and liabilities at fair value with subsequent changes in fair value reported in earnings. The election can be applied on an instrument by instrument basis. The Company elected the fair value option to its convertible bonds. The liability is measured both initially and in subsequent periods at fair value, with changes in fair value charged to finance expenses, net (See also Note 15). 2) Warrants and Price Protection Mechanism Derivative Classified as a Liability Warrants that entitle the holder to down-round protection (through ratchet and anti-dilution provisions) and price protection mechanism derivatives in respect of shares entitled to down-round protection are classified as liabilities on the balance sheet. The liability is measured both initially and in subsequent periods at fair value, with changes in fair value charged to finance expenses, net (See Note 15). 3) Derivatives Embedded derivatives are separated from the host contract and carried at fair value when (1) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract and (2) a separate, standalone instrument with the same terms would qualify as a derivative instrument. The derivative is measured both initially and in subsequent periods at fair value, with changes in fair value charged to finance expenses, net. As to embedded derivatives arising from the issuance of convertible debentures, see Note 15. |
Income Taxes [Policy Text Block] | p. Income Taxes 1) With respect to deferred taxes, income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future. 2) The Company follows a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained on examination. If this threshold is met, the second step is to measure the tax position as the largest amount that is greater than 50% likely of being realized upon ultimate settlement. 3) Taxes that would apply in the event of disposal of investment in Subsidiaries have not been taken into account in computing the deferred income taxes, as it is the Company’s intention to hold these investments and not realize them. |
Stock-Based Compensation [Policy Text Block] | q. Stock-based Compensation The Company accounts for employee stock-based compensation in accordance with the guidance of ASC Topic 718, Compensation - Stock Compensation The Company follows ASC Topic 505-50, Equity-Based Payments to Non-Employees |
Redeemable Common Stock [Policy Text Block] | r. Redeemable Common Stock Common stock with embedded redemption features, such as an unwind option, whose settlement is not at the Company’s discretion, are considered redeemable common stock. Redeemable common stock is considered to be temporary equity and are therefore presented as a mezzanine section between liabilities and equity on the Company's consolidated balance sheets. Subsequent adjustment of the amount presented in temporary equity is required only if the Company's management estimates that it is probable that the instrument will become redeemable. Upon termination of the redemption features, the redeemable common stock are reclassified into equity. |
Loss per Share of Common Stock [Policy Text Block] | s. Loss per Share of Common Stock Net loss per share, basic and diluted, is computed on the basis of the net loss for the period divided by the weighted average number of common shares outstanding during the period. Diluted net loss per share is based upon the weighted average number of common shares and of common shares equivalents outstanding when dilutive. Common share equivalents include: (i) outstanding stock options under the Company’s Global Share Incentive Plan (2012) and warrants which are included under the treasury share method when dilutive, and (ii) common shares to be issued under the assumed conversion of the Company’s outstanding convertible loans, which are included under the if-converted method when dilutive. See Note 12. |
Concentration of Credit Risk [Policy Text Block] | t. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of principally cash and cash equivalents, restricted cash and certain receivables. The Company held these instruments with highly rated financial institutions and the Company has not experienced any significant credit losses in these accounts and does not believe the Company is exposed to any significant credit risk on these instruments apart of accounts receivable. The Company performs ongoing credit evaluations of its customers for the purpose of determining the appropriate allowance for doubtful accounts. An appropriate allowance for doubtful accounts is included in the accounts and netted against accounts receivable. In the year ended November 30, 2016, the Company has recorded an allowance of $336 thousand ($0 in the year ended November 30,2015). Bad debt allowance is created when objective evidence exists of inability to collect all sums owed it under the original terms of the debit balances. Material customer difficulties, the probability of their going bankrupt or undergoing economic reorganization and insolvency or material delays in payments are all considered indicative of reduced debtor balance value |
Beneficial Conversion Feature (BCF) [Policy Text Block] | u. Beneficial Conversion Feature (“BCF”) When the Company issues convertible debt, if the stock price is greater than the effective conversion price (after allocation of the total proceeds) on the measurement date, the conversion feature is considered "beneficial" to the holder. If there is no contingency, this difference is treated as issued equity and reduces the carrying value of the host debt; the discount is accreted as deemed interest on the debt (See Note 8(c)). |
Other Comprehensive Loss [Policy Text Block] | v. Other Comprehensive Loss Other comprehensive loss represents adjustments of foreign currency translation. |
Newly Issued Accounting Pronouncements [Policy Text Block] | w. Newly Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09 (“ASU 2014-09”) "Revenue from Contracts with Customers." ASU 2014-09 will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue upon the transfer of goods or services to customers in an amount that the entity expects to be entitled to in exchange for those goods or services. On July 9, 2015, the FASB deferred the effective date of the standard by one year, which results in the new standard being effective for the Company at the beginning of its first quarter of fiscal year 2018. In addition, during March, April and May 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers : Principal versus Agent Considerations (Reporting Revenue Gross versus Net), ASU 2016-10, Revenue from Contracts with Customers : Identifying Performance Obligations and Licensing and ASU 2016-12, Revenue from Contracts with Customers : Narrow-Scope Improvements and Practical Expedients, respectively, which clarified the guidance on certain items such as reporting revenue as a principal versus agent, identifying performance obligations, accounting for intellectual property licenses, assessing collectability and presentation of sales taxes. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. As applicable for the Company, the effective date for adopting the ASU is for the year ending November 30, 2019. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes the existing guidance for lease accounting, Leases (Topic 840). ASU 2016-02 requires lessees to recognize leases on their balance sheets, and leaves lessor accounting largely unchanged. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early application is permitted for all entities. ASU 2016-02 requires a modified retrospective approach for all leases existing at, or entered into after, the date of initial application, with an option to elect to use certain transition relief. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-06, Contingent Put and Call Options in Debt Instruments (Topic 815), which requires that embedded derivatives be separated from the host contract and accounted for separately as derivatives if certain criteria are met. One of those criteria is that the economic characteristics and risks of the embedded derivatives are not clearly and closely related to the economic characteristics and risks of the host contract (the “clearly and closely related” criterion). The amendments in this Update clarify what steps are required when assessing whether the economic characteristics and risks of call (put) options are clearly and closely related to the economic characteristics and risks of their debt hosts, which is one of the criteria for bifurcating an embedded derivative. Consequently, when a call (put) option is contingently exercisable, an entity does not have to assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. The amendments are an improvement to GAAP because they eliminate diversity in practice in assessing embedded contingent call (put) options in debt instruments. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted for all entities. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, as part of its simplification initiative. The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some of the areas for simplification apply only to nonpublic entities. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early application is permitted for all entities. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In August 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (“ASU”) 2016-15, Statement of Cash Flows Classification of Certain Cash Receipts and Cash Payments, which clarifies existing guidance related to accounting for cash receipts and cash payments and classification on the statement of cash flows. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which clarifies how companies present and classify certain cash receipts and cash payments in the statement of cash flows. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. The Company currently assessing the impact that this updated standard will have on the consolidated financial statements and footnote disclosures In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies the goodwill impairment test by eliminating the need to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. The same impairment assessment applies to all reporting units including those with zero or negative carrying amounts. A goodwill impairment will represent the excess of a reporting unit's carrying amount over its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments in ASU No. 2017-04 should be applied on a prospective basis. Disclosure of the nature and reason for the change in accounting principle upon transition is required. For public business entities, the amendments in this ASU are effective for annual or interim goodwill impairments tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of this new standard on its consolidated financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN28
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Annual Depreciation Rates, Property and Equipment [Table Text Block] | Weighted Average Useful Life (Years) Production facility 10 Laboratory equipment 5 Office equipment and computers 3 - 5 |
Schedule of Intangible Assets, Useful Lives [Table Text Block] | Weighted Average Amortization Recorded at Useful Life (Years) Comprehensive Loss Line Item Backlog 1.75 Cost of revenues Customer Relationships 7.75 Amortization of intangible assets Brand 9.75 Amortization of intangible assets Know-How 11.75 Amortization of intangible assets |
ACQUISITION OF MASTHERCELL (Tab
ACQUISITION OF MASTHERCELL (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Total Consideration Transferred [Table Text Block] | Total purchase consideration: Redeemable common stock $ 24,592 Less convertible bonds 3,134 Total fair value of consideration transferred $ 21,458 |
Schedule of Allocation of Purchase Price to Fair Value of the Assets Acquired and Liabilities Assumed [Table Text Block] | Total assets acquired: Cash and cash equivalents $ 305 Property and equipment 4,236 Inventory 231 Other current assets 1,664 Other intangible assets 18,977 Goodwill 10,106 Total assets 35,519 Total liabilities assumed: Deferred income 947 Deferred taxes 4,440 Loan payables 6,998 Other liabilities 1,676 Total liabilities 14,061 Total consideration transferred $ 21,458 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
Schedule of Segment Information [Table Text Block] | Corporate and CDMO CTB Eliminations Consolidated (in thousands) Revenues from external customers $ 6,853 $ $ (456 ) $ 6,397 Cost of revenues (6,915 ) 557 (6,358 ) Research and development expenses, net (1,725 ) (101 ) (1,826 ) Operating expenses (2,239 ) (1,667 ) (3,906 ) (2,923 ) Depreciation and amortization expense (2,918 ) (5 ) Segment Performance $ (5,219 ) $ (3,397 ) (8,616 ) Stock-based compensation (2,661 ) (2,661 ) Financial income (expenses), net 659 659 Share in losses of associated company (123 ) (123 ) Loss before income tax (10,741 ) | Corporate and CDMO CTB Eliminations Consolidated (in thousands) Revenues from external customers $ 3,320 $ $ (346 ) $ 2,974 Cost of revenues (3,099 ) (3,099 ) Research and development expenses, net (1,279 ) 346 (933 ) Operating expenses (1,304 ) (1,799 ) (3,103 ) Depreciation and amortization expense (1,984 ) (5 ) (1,989 ) Segment Performance $ (3,067 ) $ (3,083 ) (6,150 ) Stock -based compensation (803 ) (803 ) Acquisition costs (258 ) (258 ) Financial income (expenses), net 1,850 1,850 Loss before income tax (5,361 ) |
Schedule of Revenues from Major Customers [Table Text Block] | Year Ended Year Ended November 30, November 30, 2016 2015 (in thousands) Customer A $ 3,754 $ 1,921 Customer B $ 1,742 $ 626 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Property, Plant and Equipment [Table Text Block] | November 30, 2016 2015 (in thousands) Cost: Production facility $ 4,403 $ 3,638 Office furniture and computers 211 120 Lab equipment 1,491 1,200 6,105 4,958 Less – accumulated depreciation (1,532 ) (662 ) Total $ 4,573 $ 4,296 |
INVESTMENTS IN ASSOCIATE, NET (
INVESTMENTS IN ASSOCIATE, NET (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Investments [Table Text Block] | November 30, 2016 (In thousands) Opening balance $ - Investments 111 Share in losses (123 ) $ (12 ) |
INTANGIBLE ASSETS AND GOODWILL
INTANGIBLE ASSETS AND GOODWILL (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Goodwill [Table Text Block] | (in thousands) Goodwill as of December 1, 2014 $ Goodwill as acquired 10,106 Translation differences (571 ) Goodwill as of November 30,2015 $ 9,535 Translation differences 49 Goodwill as of November 30,2016 9,584 |
Schedule of Intangible Assets [Table Text Block] | November 30, November 30, 2016 2015 (In thousands) Gross Carrying Amount: Know How $ 16,158 16,073 Backlog* 237 237 Customer relationships 331 330 Brand name 1,272 1,266 17,998 17,906 Accumulated amortization 2,948 1,253 Net carrying amount of other intangible assets $ 15,050 16,653 |
Schedule of Intangible Assets, Future Amortization Expense [Table Text Block] | 2017 2018 to 2021 (in thousands) Amortization expenses $ 1,615 $ 6,462 |
CONVERTIBLE LOAN AGREEMENTS (Ta
CONVERTIBLE LOAN AGREEMENTS (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Fair Value of Loan Agreement [Table Text Block] | Total Fair Value (in thousands) December 23, April 27, 2015 2016 Warrants component $ 323 $ 13 Price protection derivative component 34 2 Shares component 614 32 Total $ 971 $ 47 |
Schedule of Fair Value of Instruments as of Closing Date [Table Text Block] | Total Fair Value (in thousands) November 2, 2016 Embedded derivative component $ 40 Loan component 222 Total $ 262 |
LOANS (Tables)
LOANS (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Long-term Debt Instruments [Table Text Block] | Principal Year of November 30, Amount Grant Year Interest Rate Maturity 2016 2015 (in thousands) (in thousands) Long-term loan a (*) € 1,400 2012 4.05% 2022 $ 952 $ 1,086 Long-term loan b € 1,000 2013 6%- 7.5% 2023 1,000 1,089 Long-term loan c € 790 2012-2016 5.5%- 6% 2020-2024 739 802 Long-term loan e € 800 2014 Euribord + 2% 2016 529 Long-term loan f € 1,000 2016 7% 2019 1,063 $ 3,754 $ 3,506 Current portion of loans payable (463 ) (966 ) $ 3,291 $ 2,540 |
Schedule of Short-term Debt [Table Text Block] | November 30, Currency Interest Rate 2016 2015 (in thousands) Current portion of loans payable a Euro 4.05% $ 145 $ 139 Current portion of loans payable b Euro 6%- 7.5% 135 166 Current portion of loans payable c Euro 5.5%- 6% 183 132 Current portion of loans payable e Euro Euribord + 2% 529 $ 463 $ 966 Short term-loans* Euro 7% 648 1,334 Short term-loan** Euro 6.3% 529 $ 1,111 $ 2,829 |
EQUITY (Tables)
EQUITY (Tables) | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
Schedule of Fair Value of Instruments for Financing [Table Text Block] | Total Fair Value (in thousands) Warrants component $ 466 Price protection derivative component 84 Shares component 938 Total $ 1,488 | Total Fair Value (in thousands) Warrants component $ 1,390 Price protection derivative component 1,529 Shares component 1,284 Total $ 4,203 |
Schedule of Fair Value of Private Placements [Table Text Block] | Exercise Number of Price / Warrants Adjusted Issuance Issued and Exercise Expiration Date Outstanding Price Date October 2015 192,308 $ 0.52 March 2018 November 2015 7,891,109 $ 0.52 November 2018 December 2015 2,111,038 $ 0.52 December 2018 February 2016 192,308 $ 0.52 February 2019 March 2016 769,231 $ 0.52 March 2019 April 2016 490,293 $ 0.52 April 2019 May 2016 288,462 $ 0.52 May 2019 June 2016 865,384 $ 0.52 June 2019 July 2016 120,192 $ 0.52 July 2017 12,920,325 | |
Schedule of Fair Value of Warrants [Table Text Block] | Exercise Price / Number of Adjusted Grant Warrants Issued Exercise Expiration Date and Outstanding Price Date November 2013 200,000 $ 0.5 November 2018 December 2013 1,032,695 $ 0.5 March 2017 March 2014 713,023 $ 0.52 March 2017 April 2014 384,615 $ 0.52 April 2017 July 2014 192,308 $ 0.52 July 2017 July 2014 144,230 $ 0.52 July 2017 August 2014 115,385 $ 0.52 August 2017 October 2015 2,358,490 $ 0.52 October 2018 December 2015 30,613 $ 0.52 December 2018 April 2016 288,461 $ 0.52 April 2019 August 2016 215,655 $ 0.52 August 2019 September 2016 7,692 $ 0.52 September 2019 October 2016 7,701 $ 0.52 October 2019 November 2016 840,369 $ 0.52 November 2019 6,531,237 |
LOSS PER SHARE (Tables)
LOSS PER SHARE (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended November 30, 2016 2015 (in thousands, except per share data) Basic: Loss for the year $ 9,194 $ 4,461 Weighted average number of common shares outstanding 102,258,854 55,798,416 Loss per common share $ 0.09 $ 0.08 Diluted Loss for the year $ 9,194 4,461 Changes in fair value of embedded 1,272 Change in fair value of warrants 559 Loss for the year $ 9,194 6,292 Weighted average number of shares used in the computation of basic loss per share 102,258,854 55,798,416 Number of dilutive shares related to convertible bonds 873,380 Number of dilutive shares related to warrants 249,116 Weighted average number of common shares outstanding 102,258,854 56,920,912 Loss per common share $ 0.09 $ 0.11 |
STOCK BASED COMPENSATION (Table
STOCK BASED COMPENSATION (Tables) | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | Year of No. of options Exercise price Vesting period Fair value at grant Expiration grant granted (in thousands) period Directors 2015 500,000 $ 0.53 vest immediately $ 136 5 Employees 2016 3,046,250 $ $0.36 vest immediately- 2 years $ 697 10 | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended November 30, 2016 2015 Value of one common share $ 0.28 -$0.36 $ 0.53 Dividend yield 0% 0% Expected stock price volatility 87.4%- 89% 85.7% Risk free interest rate 1.32%- 1.33% 1.68% Expected term (years) 5 2.5 | |
Schedule of Stock Options Granted to Employees and Directors [Table Text Block] | 2016 2015 Weighted Weighted Average Average Exercise Exercise Number of Price Number of Price Options $ Options $ Options outstanding at the beginning of the year 10,341,210 0.16 12,809,455 0.27 Changes during the year: Granted 3,046,250 0.19 500,000 0.53 Expired (2,440,120 ) 0.68 Forfeited (528,125 ) 0.5 Re-designation to non- employee (see Note 10g) (1,641,300 ) 0.28 Options outstanding at end of the year 11,746,160 0.16 10,341,210 0.16 Options exercisable at end of the year 10,557,105 0.14 8,696,162 0.09 | |
Schedule of Information Stock Options Granted to Employees and Directors [Table Text Block] | Weighted Average Aggregate Aggregate Exercise Number of Remaining Intrinsic Number of Exercisable Prices Outstanding Contractual Value Exercisable Options $ Options Life $ Options Value $ (in thousands) (in thousands) 0.0001 5,544,155 6.8 2,162 5,000,344 1 0.001 3,338,285 5.2 1,299 3,338,285 3 0.36 300,000 9.4 9 37,500 14 0.5 400,000 7.7 400,000 200 0.53 500,000 3.5 500,000 265 0.75 250,000 6.6 150,000 113 0.79 942,520 5.6 754,016 596 0.85 471,200 5.5 376,960 320 11,746,160 6.1 3,470 10,557,105 1,512 | |
Schedule of Share-based Compensation, Stock Options Granted to Consultants [Table Text Block] | Year Ended November 30, 2016 No. of options Exercise price Vesting period Fair value at grant Expiration granted (in thousands) period Options 1,000,000 * $ 0.3 Quarterly over a period $ 187 4 years of one year | Year Ended November 30, 2015 No. of options Exercise price Vesting period Fair value at grant Expiration granted (in thousands) period Options 200,000 $ 0.65, $0.52 Yearly over a period of $ 49 5 years five years |
Schedule of Fair Value of Stock Options Granted Valuation Assumptions [Table Text Block] | Year Ended November 30, 2016 2015 Value of one common share $ 0.3, $0.34 $ 0.65, $0.53 Dividend yield 0% 0% Expected stock price volatility 87%, 95% 86%, 89% Risk free interest rate 1.19%, 2.34% 1.34%, 1.42% Expected term (years) 1 - 9 5 | |
Schedule of Stock Options Granted to Non-Employees [Table Text Block] | 2016 2015 Weighted Weighted Average Average Exercise Exercise Number of Price Number of Price Options $ Options $ Options outstanding at the beginning of the year 2,658,104 0.75 2,458,104 0.75 Changes during the year: Granted 1,000,000 0.3 200,000 0.51 Expired Re-designation to non- employee (see Note 10g) 1,641,300 0.28 Options outstanding at end of the year 5,299,404 0.52 2,658,104 0.75 Options exercisable at end of the year 4,647,404 0.51 1,521,624 0.65 | |
Schedule of Information Options Granted to Non-Employees [Table Text Block] | Weighted Weighted Average Average Aggregate Number of Aggregate Exercise Number of Remaining Exercise Intrinsic Exercisable Exercisable Prices Outstanding Contractual Price Value* Options Options $ Options Life $ $ Value $ (in thousands) (in thousands) 0.28 1,641,300 9.4 0.28 181 1,641,300 460 0.3 1,000,000 0.25 0.3 90 1,000,000 300 0.50 1,080,000 1.67 0.50 648,000 324 0.54 100,000 3.53 0.54 20,000 10 0.61 100,000 5.98 0.61 80,000 49 0.65 100,000 3.2 0.65 20,000 13 0.69 706,904 5.5 0.69 706,904 488 0.96 100,000 6.35 0.96 60,000 58 1.40 471,200 5.38 1.40 471,200 660 5,299,404 4.7 0.75 $ 271 4,647,404 $ 2,362 |
TAXES (Tables)
TAXES (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Deferred Tax Assets [Table Text Block] | November 30, 2016 2015 (U.S dollars in thousands) Net operating loss carry forwards $ 8,278 $ 5,658 Research and development expenses 655 268 Employee benefits 152 31 Property and equipment (355 ) (178 ) Convertible bonds 1 45 Deferred income (325 ) (508 ) Intangible assets (5,117 ) (5,661 ) Less: Valuation allowance (5,151 ) (2,982 ) Net deferred tax liabilities $ (1,862 ) $ (3,327 ) |
Schedule of Valuation Allowance, Activity [Table Text Block] | Year Ended November 30, 2016 2015 (U.S dollars in thousands) Balance at the beginning of year $ (2,982 ) $ (1,870 ) Additions during the year (2,169 ) (1,112 ) Balance at end of year $ (5,151 ) $ (2,982 ) |
FAIR VALUE PRESENTATION (Tables
FAIR VALUE PRESENTATION (Tables) | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
Schedule of Assets and Liabilities at Fair Value [Table Text Block] | November 30, November 30, 2016 2015 Level 3 Level 3 Warrants (1) $ 1,843 $ 1,382 Price protection derivative (1) 76 1,533 Embedded derivatives convertible loans *(1) 240 289 Put option derivative (1) 273 Convertible bonds (2) $ 1,818 $ 1,888 | |
Schedule of Fair Value, Assumptions Used [Table Text Block] | Price Protection Derivative and Embedded Put Option Warrants Derivative Derivative Fair value of shares of common stock $ 0.39 $ 0.39 Expected volatility 94%- 103% 103% 63% Discount on lack of marketability 16% - Risk free interest rate 0.57%- 1.28% 0.38%- 0.62% 0.9% Expected term (years) 1.9 - 2.6 0.08 - 0.42 Expected dividend yield 0% 0% Expected capital raise dates Q1- 2017 Probability of external Investment in 20% Atvio Orgenesis cost of debt 26% Revenues Multiplier distribution 3.34 | Price Protection Derivative and Embedded Convertible Warrants Derivative Bonds Fair value of shares of common stock $ 0.33 $ 0.33 $ 0.33 Expected volatility 87%- 98% 87% 88% Discount on lack of marketability 14% - 18% Risk free interest rate 0.44%- 1.24% 0.11%- 0.49% 0.42% Expected term (years) 2.9 - 3 0.08 - 0.87 0.8 Expected dividend yield 0% 0% 0% Expected capital raise dates Q2 2016 -Q4 2016, Q4 2017 |
Schedule of Fair Value of Financial Liabilities, Activity [Table Text Block] | Convertible Price Put Option Embedded Bonds Protection Derivative Warrants Derivatives Derivative (in thousands) Balance at beginning of the year $ 1,382 $ 289 $ 1,888 $ 1,533 $ Additions 802 40 120 273 Conversion (10 ) Changes in fair value related to Price Protection Derivative expired* (108 ) Changes in fair value during the period (341 ) (87 ) (84 ) (1,469 ) Changes in fair value due to extinguishment of convertible loan 8 Translation adjustments 14 Balance at end of the year $ 1,843 $ 240 $ 1,818 $ 76 $ 273 | Price Embedded Convertible Protection Warrants Derivatives Bonds Derivative (in thousands) Balance at beginning of the year $ 560 $ 992 $ $ Additions 1,390 112 3,234 1,526 Changes in fair value related to warrants expired* (525 ) 7 Changes in fair value during the period (43 ) (815 ) (1,221 ) Translation adjustments (125 ) Balance at end of the year $ 1, 382 $ 289 $ 1,888 $ 1,533 |
Schedule of Sensitivity Analysis of Fair Value, Warrants [Table Text Block] | Base - 10% Base Base+ 10% (in thousands) As of November 30, 2016 $ 1,662 $ 1,843 $ 2,008 | |
Schedule of Sensitivity Analysis of Changes in Fair Value, Price Protection Derivative [Table Text Block] | Base - 10% Base Base+ 10% (in thousands) As of November 30, 2016 $ 75 $ 76 $ 77 | |
Schedule of Sensitivity Analysis of Changes in Fair Value, Put Option Derivative [Table Text Block] | Base - 50% Base Base+ 50% (in thousands) As of November 30, 2016 $ (261 ) $ (273 ) $ (280 ) |
REVENUES (Tables)
REVENUES (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Revenue [Table Text Block] | Year Ended November 30, 2016 2015 (in thousands) Services $ 4,683 $ 1,924 Goods 1,714 1,050 Total $ 6,397 $ 2,974 |
RESEARCH AND DEVELOPMENT EXPE42
RESEARCH AND DEVELOPMENT EXPENSES, NET (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Research and Development Expenses [Table Text Block] | Year Ended November 30, 2016 2015 (in thousands) Total expenses $ 2,637 $ 1,860 Less grant (480 ) (793 ) Total $ 2,1 57 $ 1,067 |
FINANCIAL EXPENSES (INCOMES),43
FINANCIAL EXPENSES (INCOMES), NET (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Financial Expenses [Table Text Block] | Year Ended November 30, 2016 2015 (in thousands) Decrease in fair value of warrants and financial liabilities measured at fair value $ (1,587 ) $ (2,596 ) Stock-based compensation related to warrants granted due to issuance of credit facility 208 Interest expense on convertible loans 694 726 Foreign exchange loss, net 31 50 Other income (5 ) (30 ) Total $ (659 ) $ (1,850 ) |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Nov. 30, 2016 | |
Schedule of Related Party Transactions [Table Text Block] | November 30, 2016 2015 (in thousands) Management and consulting fees to the Chairman of the Board $ 30 $ 57 Compensation to the nonexecutive directors $ 54 $ 71 Convertible loan from a related Fund* $ 350 |
DESCRIPTION OF BUSINESS (Narrat
DESCRIPTION OF BUSINESS (Narrative) (Details) pure in Millions | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Description Of Business 1 | $ 29,800,000 |
Description Of Business 2 | 10,300,000 |
Description Of Business 3 | 6,100,000 |
Description Of Business 4 | $ 1,100,000 |
Description Of Business 5 | 1 |
Description Of Business 6 | $ 1,500,000 |
Description Of Business 7 | 1,600,000 |
Description Of Business 8 | 5,200,000 |
Description Of Business 9 | 1,900,000 |
Description Of Business 10 | $ 2.1 |
Description Of Business 11 | 2 |
SUMMARY OF SIGNIFICANT ACCOUN46
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Summary Of Significant Accounting Policies 1 | 50.00% |
Summary Of Significant Accounting Policies 2 | $ 336,000 |
Summary Of Significant Accounting Policies 3 | $ 0 |
ACQUISITION OF MASTHERCELL (Nar
ACQUISITION OF MASTHERCELL (Narrative) (Details) - 12 months ended Nov. 30, 2016 $ / shares in Units, $ in Thousands, € in Millions | USD ($)moyr$ / sharesshares | EUR (€)moyrshares |
Acquisition Of Masthercell 1 | shares | 42,401,724 | 42,401,724 |
Acquisition Of Masthercell 2 | $ / shares | $ 0.58 | |
Acquisition Of Masthercell 3 | $ 24,600 | |
Acquisition Of Masthercell 4 | shares | 8,173,483 | 8,173,483 |
Acquisition Of Masthercell 5 | $ 4,100 | |
Acquisition Of Masthercell 6 | € | € 3.8 | |
Acquisition Of Masthercell 7 | 1,300 | |
Acquisition Of Masthercell 8 | € | 1.2 | |
Acquisition Of Masthercell 9 | 2,400 | |
Acquisition Of Masthercell 10 | € | 2.2 | |
Acquisition Of Masthercell 11 | 1,100 | |
Acquisition Of Masthercell 12 | € | 1 | |
Acquisition Of Masthercell 13 | € | 3.8 | |
Acquisition Of Masthercell 14 | 4,100 | |
Acquisition Of Masthercell 15 | € | 6 | |
Acquisition Of Masthercell 16 | $ 1,500 | |
Acquisition Of Masthercell 17 | € | € 1.4 | |
Acquisition Of Masthercell 18 | mo | 14 | 14 |
Acquisition Of Masthercell 19 | 8,173,483 | 8,173,483 |
Acquisition Of Masthercell 20 | $ 349 | |
Acquisition Of Masthercell 21 | 17,037 | |
Acquisition Of Masthercell 22 | 250 | |
Acquisition Of Masthercell 23 | $ 1,341 | |
Acquisition Of Masthercell 24 | 1.75 | 1.75 |
Acquisition Of Masthercell 25 | yr | 11.75 | 11.75 |
Acquisition Of Masthercell 26 | $ 258 |
SEGMENT INFORMATION (Narrative)
SEGMENT INFORMATION (Narrative) (Details) | 12 Months Ended |
Nov. 30, 2016 | |
Segment Information 1 | 1 |
Segment Information 2 | 10.00% |
PROPERTY AND EQUIPMENT (Narrati
PROPERTY AND EQUIPMENT (Narrative) (Details) $ in Thousands | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Property And Equipment 1 | $ 1,160 |
Property And Equipment 2 | $ 681 |
INVESTMENTS IN ASSOCIATE, NET50
INVESTMENTS IN ASSOCIATE, NET (Narrative) (Details) $ in Thousands | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Investments In Associate, Net 1 | 50.00% |
Investments In Associate, Net 2 | $ 1,000 |
Investments In Associate, Net 3 | 50.00% |
Investments In Associate, Net 4 | $ 111 |
INTANGIBLE ASSETS AND GOODWIL51
INTANGIBLE ASSETS AND GOODWILL (Narrative) (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Intangible Assets And Goodwill 1 | 3.00% |
Intangible Assets And Goodwill 2 | 15.30% |
Intangible Assets And Goodwill 3 | 17.20% |
Intangible Assets And Goodwill 4 | 1.00% |
Intangible Assets And Goodwill 5 | 1.00% |
Intangible Assets And Goodwill 6 | $ 1,600,000 |
Intangible Assets And Goodwill 7 | $ 2,400,000 |
Intangible Assets And Goodwill 8 | 1.00% |
Intangible Assets And Goodwill 9 | $ 4,000,000 |
Intangible Assets And Goodwill 10 | 1.8 |
Intangible Assets And Goodwill 11 | $ 1,700,000 |
CONVERTIBLE LOAN AGREEMENTS (Na
CONVERTIBLE LOAN AGREEMENTS (Narrative) (Details) | 12 Months Ended |
Nov. 30, 2016USD ($)moshares | |
Convertible Loan Agreements 1 | $ 1,000,000 |
Convertible Loan Agreements 2 | 6.00% |
Convertible Loan Agreements 3 | $ 0.52 |
Convertible Loan Agreements 4 | shares | 1,976,330 |
Convertible Loan Agreements 5 | shares | 1,976,330 |
Convertible Loan Agreements 6 | $ 0.52 |
Convertible Loan Agreements 7 | $ 1,500,000 |
Convertible Loan Agreements 8 | shares | 288,461 |
Convertible Loan Agreements 9 | $ 0.52 |
Convertible Loan Agreements 10 | 34,000 |
Convertible Loan Agreements 11 | 0.28 |
Convertible Loan Agreements 12 | $ 55,000 |
Convertible Loan Agreements 13 | 12.00% |
Convertible Loan Agreements 14 | $ 229,000 |
Convertible Loan Agreements 15 | $ 1,400,000 |
Convertible Loan Agreements 16 | 6.00% |
Convertible Loan Agreements 17 | 12.00% |
Convertible Loan Agreements 18 | $ 10,000,000 |
Convertible Loan Agreements 19 | 0.52 |
Convertible Loan Agreements 20 | 0.52 |
Convertible Loan Agreements 21 | $ 0.52 |
Convertible Loan Agreements 22 | mo | 12 |
Convertible Loan Agreements 23 | $ 0.40 |
Convertible Loan Agreements 24 | 257,000 |
Convertible Loan Agreements 25 | 176,000 |
Convertible Loan Agreements 26 | $ 55,000 |
Convertible Loan Agreements 27 | 1,000,000 |
Convertible Loan Agreements 28 | $ 262,000 |
Convertible Loan Agreements 29 | 2.00% |
Convertible Loan Agreements 30 | $ 0.52 |
Convertible Loan Agreements 31 | 29,000 |
Convertible Loan Agreements 32 | $ 8,000 |
LOANS (Narrative) (Details)
LOANS (Narrative) (Details) € in Thousands | 12 Months Ended |
Nov. 30, 2016EUR (€) | |
Loans 1 | € 1,247 |
Loans 2 | 7.00% |
Loans 3 | € 500 |
COMMITMENTS (Narrative) (Detail
COMMITMENTS (Narrative) (Details) - 12 months ended Nov. 30, 2016 | USD ($)moyrshares | EUR (€)moyrshares |
Commitments 1 | 3.50% | 3.50% |
Commitments 2 | 16.00% | 16.00% |
Commitments 3 | $ 15,000 | |
Commitments 4 | 50,000 | |
Commitments 5 | 50,000 | |
Commitments 6 | 150,000 | |
Commitments 7 | 750,000 | |
Commitments 8 | 2,000,000 | |
Commitments 9 | $ 150,000,000 | |
Commitments 10 | shares | 5,563,809 | 5,563,809 |
Commitments 11 | shares | 1,000 | 1,000 |
Commitments 12 | $ 110,000 | |
Commitments 13 | 406,000 | |
Commitments 14 | 406,000 | |
Commitments 15 | $ 272,000 | |
Commitments 16 | € | € 1,421,000 | |
Commitments 17 | 32.00% | 32.00% |
Commitments 18 | € | € 568,000 | |
Commitments 19 | € | 669 | |
Commitments 20 | € | € 2,015,000 | |
Commitments 21 | $ 2,400,000 | |
Commitments 22 | 1 | 1 |
Commitments 23 | € | € 1,085,000 | |
Commitments 24 | 70.00% | 70.00% |
Commitments 25 | € | € 930,000 | |
Commitments 26 | 60.00% | 60.00% |
Commitments 27 | € | € 651,000 | |
Commitments 28 | € | 558,000 | |
Commitments 29 | $ 1,400,000 | |
Commitments 30 | € | 1,100,000 | |
Commitments 31 | 109,000 | |
Commitments 32 | € | € 1,304,000 | |
Commitments 33 | $ 1,455,000 | |
Commitments 34 | 55.00% | 55.00% |
Commitments 35 | € | € 717,000 | |
Commitments 36 | $ 800,000 | |
Commitments 37 | € | 359,000 | |
Commitments 38 | 374,000 | |
Commitments 39 | € | € 12,300,000 | |
Commitments 40 | $ 12,800,000 | |
Commitments 41 | 55.00% | 55.00% |
Commitments 42 | € | € 6,800,000 | |
Commitments 43 | $ 7,000,000 | |
Commitments 44 | € | € 1,700,000 | |
Commitments 45 | 1,800,000 | |
Commitments 46 | $ 400,000 | |
Commitments 47 | 5.00% | 5.00% |
Commitments 48 | mo | 18 | 18 |
Commitments 49 | $ 200,000 | |
Commitments 50 | 211,000 | |
Commitments 51 | $ 400,000 | |
Commitments 52 | 2.50% | 2.50% |
Commitments 53 | mo | 18 | 18 |
Commitments 54 | $ 160,000 | |
Commitments 55 | $ 40,000 | |
Commitments 56 | yr | 12 | 12 |
Commitments 57 | € | € 328,000 | |
Commitments 58 | $ 348,000 | |
Commitments 59 | 50.00% | 50.00% |
Commitments 60 | $ 2,000,000 | |
Commitments 61 | 1,000,000 | |
Commitments 62 | 595,000 | |
Commitments 63 | $ 497,000 | |
Commitments 64 | shares | 1,641,300 | 1,641,300 |
Commitments 65 | $ 458,000 |
EQUITY (Narrative) (Details)
EQUITY (Narrative) (Details) - 12 months ended Nov. 30, 2016 | USD ($)$ / sharesshares | EUR (€)shares |
Equity 1 | shares | 2,860,578 | 2,860,578 |
Equity 2 | shares | 2,860,578 | 2,860,578 |
Equity 3 | $ 0.52 | |
Equity 4 | $ 1,488,000 | |
Equity 5 | shares | 8,083,416 | 8,083,416 |
Equity 6 | shares | 8,083,416 | 8,083,416 |
Equity 7 | $ 0.52 | |
Equity 8 | 4,203,000 | |
Equity 9 | 0.52 | |
Equity 10 | $ 5,000,000 | |
Equity 11 | shares | 2,358,000 | 2,358,000 |
Equity 12 | $ / shares | $ 0.53 | |
Equity 13 | $ 208,000 | |
Equity 14 | 0.00% | 0.00% |
Equity 15 | 80.00% | 80.00% |
Equity 16 | 0.34% | 0.34% |
Equity 17 | $ 1,700,000 | |
Equity 18 | € | € 1,500,000 | |
Equity 19 | shares | 3,157,716 | 3,157,716 |
LOSS PER SHARE (Narrative) (Det
LOSS PER SHARE (Narrative) (Details) | 12 Months Ended |
Nov. 30, 2016shares | |
Loss Per Share 1 | 8,173,484 |
Loss Per Share 2 | 17,045,564 |
Loss Per Share 3 | 19,451,562 |
Loss Per Share 4 | 386,537 |
Loss Per Share 5 | 7,863,205 |
Loss Per Share 6 | 42,401,724 |
Loss Per Share 7 | 42,401,724 |
Loss Per Share 8 | 12,899,314 |
Loss Per Share 9 | 7,546,750 |
Loss Per Share 10 | 1,100,000 |
STOCK BASED COMPENSATION (Narra
STOCK BASED COMPENSATION (Narrative) (Details) | 12 Months Ended |
Nov. 30, 2016USD ($)yrd$ / shares$ / moshares | |
Stock Based Compensation 1 | shares | 12,000,000 |
Stock Based Compensation 2 | yr | 10 |
Stock Based Compensation 3 | $ 1,103,000 |
Stock Based Compensation 4 | 713,000 |
Stock Based Compensation 5 | $ 577,000 |
Stock Based Compensation 6 | yr | 3.42 |
Stock Based Compensation 7 | 40.00% |
Stock Based Compensation 8 | $ 5,000,000 |
Stock Based Compensation 9 | 2,543 |
Stock Based Compensation 10 | 90,000 |
Stock Based Compensation 11 | $ 167,000 |
Stock Based Compensation 12 | yr | 4.55 |
Stock Based Compensation 13 | shares | 1,071,417 |
Stock Based Compensation 14 | $ / shares | $ 0.52 |
Stock Based Compensation 15 | $ 219,000 |
Stock Based Compensation 16 | $ 64,000 |
Stock Based Compensation 17 | shares | 271,417 |
Stock Based Compensation 18 | shares | 250,000 |
Stock Based Compensation 19 | $ 0.30 |
Stock Based Compensation 20 | $ / mo | 10,000 |
Stock Based Compensation 21 | $ 5,000 |
Stock Based Compensation 22 | 5,000 |
Stock Based Compensation 23 | 3,000,000 |
Stock Based Compensation 24 | $ 34,000 |
Stock Based Compensation 25 | shares | 1,200,000 |
Stock Based Compensation 26 | $ 336,000 |
Stock Based Compensation 27 | shares | 1,000,000 |
Stock Based Compensation 28 | shares | 350,000 |
Stock Based Compensation 29 | shares | 350,000 |
Stock Based Compensation 30 | d | 90 |
Stock Based Compensation 31 | shares | 300,000 |
Stock Based Compensation 32 | 180 |
Stock Based Compensation 33 | $ 249,000 |
Stock Based Compensation 34 | $ 92 |
TAXES (Narrative) (Details)
TAXES (Narrative) (Details) | 12 Months Ended | |
Nov. 30, 2016USD ($) | Nov. 30, 2016EUR (€) | |
Taxes 1 | 35.00% | 35.00% |
Taxes 2 | 8.25% | 8.25% |
Taxes 3 | 26.50% | 26.50% |
Taxes 4 | 25.00% | 25.00% |
Taxes 5 | 25.00% | 25.00% |
Taxes 6 | 23.00% | 23.00% |
Taxes 7 | 24.00% | 24.00% |
Taxes 8 | 24.00% | 24.00% |
Taxes 9 | 23.00% | 23.00% |
Taxes 10 | 34.00% | 34.00% |
Taxes 11 | $ 6,600,000 | |
Taxes 12 | 138,000 | |
Taxes 13 | 722,000 | |
Taxes 14 | 3,800,000 | |
Taxes 15 | $ 11,700,000 | |
Taxes 16 | € | € 11,100,000 |
FAIR VALUE PRESENTATION (Narrat
FAIR VALUE PRESENTATION (Narrative) (Details) | 12 Months Ended |
Nov. 30, 2016shares | |
Fair Value Presentation 1 | 6.00% |
Fair Value Presentation 2 | 11,732,916 |
Fair Value Presentation 3 | 1,826,718 |
SUBSEQUENT EVENTS (Narrative) (
SUBSEQUENT EVENTS (Narrative) (Details) - 12 months ended Nov. 30, 2016 | USD ($)$ / sharesshares | EUR (€)shares |
Subsequent Events 1 | $ 3,500,000 | |
Subsequent Events 2 | 6.00% | 6.00% |
Subsequent Events 3 | $ 1,000,000 | |
Subsequent Events 4 | € | € 932,000 | |
Subsequent Events 5 | $ 250,000 | |
Subsequent Events 6 | $ / shares | $ 0.4 | |
Subsequent Events 7 | shares | 48,077 | 48,077 |
Subsequent Events 8 | $ 0.52 | |
Subsequent Events 9 | $ 100,000 | |
Subsequent Events 10 | 6.00% | 6.00% |
Subsequent Events 11 | $ / shares | $ 0.52 | |
Subsequent Events 12 | shares | 96,154 | 96,154 |
Subsequent Events 13 | $ 0.52 | |
Subsequent Events 14 | shares | 596,155 | 596,155 |
Subsequent Events 15 | shares | 596,155 | 596,155 |
Subsequent Events 16 | $ 0.52 | |
Subsequent Events 17 | 310,000 | |
Subsequent Events 18 | $ 1,700,000 | |
Subsequent Events 19 | € | € 1,500,000 | |
Subsequent Events 20 | € | € 100,000 | |
Subsequent Events 21 | shares | 102,822 | 102,822 |
Subsequent Events 22 | $ 0.52 | |
Subsequent Events 23 | $ / shares | $ 0.22 | |
Subsequent Events 24 | 3,157,716 | 3,157,716 |
Subsequent Events 25 | $ 51,000 | |
Subsequent Events 26 | 16,000,000 | |
Subsequent Events 27 | 0.52 | |
Subsequent Events 28 | $ 1,000,000 | |
Subsequent Events 29 | shares | 1,923,077 | 1,923,077 |
Subsequent Events 30 | shares | 1,923,077 | 1,923,077 |
Subsequent Events 31 | $ 1,500,000 | |
Subsequent Events 32 | 1,900,000 | |
Subsequent Events 33 | 125,000 | |
Subsequent Events 34 | $ 500,000 | |
Subsequent Events 35 | 20.00% | 20.00% |
Subsequent Events 36 | $ 1,000,000 | |
Subsequent Events 37 | 25.00% | 25.00% |
Schedule of Annual Depreciation
Schedule of Annual Depreciation Rates, Property and Equipment (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Summary Of Significant Accounting Policies Schedule Of Annual Depreciation Rates Property And Equipment Table Text Block 1 | $ 10 |
Summary Of Significant Accounting Policies Schedule Of Annual Depreciation Rates Property And Equipment Table Text Block 2 | 5 |
Summary Of Significant Accounting Policies Schedule Of Annual Depreciation Rates Property And Equipment Table Text Block 3 | 3 |
Summary Of Significant Accounting Policies Schedule Of Annual Depreciation Rates Property And Equipment Table Text Block 4 | $ 5 |
Schedule of Intangible Assets,
Schedule of Intangible Assets, Useful Lives (Details) | 12 Months Ended |
Nov. 30, 2016 | |
Summary Of Significant Accounting Policies Schedule Of Intangible Assets, Useful Lives 1 | 1.75 |
Summary Of Significant Accounting Policies Schedule Of Intangible Assets, Useful Lives 2 | 7.75 |
Summary Of Significant Accounting Policies Schedule Of Intangible Assets, Useful Lives 3 | 9.75 |
Summary Of Significant Accounting Policies Schedule Of Intangible Assets, Useful Lives 4 | 11.75 |
Schedule of Total Consideration
Schedule of Total Consideration Transferred (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Acquisition Of Masthercell Schedule Of Total Consideration Transferred 1 | $ 24,592 |
Acquisition Of Masthercell Schedule Of Total Consideration Transferred 2 | 3,134 |
Acquisition Of Masthercell Schedule Of Total Consideration Transferred 3 | $ 21,458 |
Schedule of Allocation of Purch
Schedule of Allocation of Purchase Price to Fair Value of the Assets Acquired and Liabilities Assumed (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 1 | $ 305 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 2 | 4,236 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 3 | 231 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 4 | 1,664 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 5 | 18,977 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 6 | 10,106 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 7 | 35,519 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 8 | 947 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 9 | 4,440 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 10 | 6,998 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 11 | 1,676 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 12 | 14,061 |
Acquisition Of Masthercell Schedule Of Allocation Of Purchase Price To Fair Value Of The Assets Acquired And Liabilities Assumed 13 | $ 21,458 |
Schedule of Segment Information
Schedule of Segment Information (Details) - USD ($) | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
Segment Information Schedule Of Segment Information 1 | $ 6,853 | |
Segment Information Schedule Of Segment Information 2 | (456) | |
Segment Information Schedule Of Segment Information 3 | 6,397 | |
Segment Information Schedule Of Segment Information 4 | (6,915) | |
Segment Information Schedule Of Segment Information 5 | 557 | |
Segment Information Schedule Of Segment Information 6 | (6,358) | |
Segment Information Schedule Of Segment Information 7 | (1,725) | |
Segment Information Schedule Of Segment Information 8 | (101) | |
Segment Information Schedule Of Segment Information 9 | (1,826) | |
Segment Information Schedule Of Segment Information 10 | (2,239) | |
Segment Information Schedule Of Segment Information 11 | (1,667) | |
Segment Information Schedule Of Segment Information 12 | (3,906) | |
Segment Information Schedule Of Segment Information 13 | (2,923) | |
Segment Information Schedule Of Segment Information 14 | (2,918) | |
Segment Information Schedule Of Segment Information 15 | (5) | |
Segment Information Schedule Of Segment Information 16 | (5,219) | |
Segment Information Schedule Of Segment Information 17 | (3,397) | |
Segment Information Schedule Of Segment Information 18 | (8,616) | |
Segment Information Schedule Of Segment Information 19 | (2,661) | |
Segment Information Schedule Of Segment Information 20 | (2,661) | |
Segment Information Schedule Of Segment Information 21 | 659 | |
Segment Information Schedule Of Segment Information 22 | 659 | |
Segment Information Schedule Of Segment Information 23 | (123) | |
Segment Information Schedule Of Segment Information 24 | (123) | |
Segment Information Schedule Of Segment Information 25 | $ (10,741) | |
Segment Information Schedule Of Segment Information 1 | $ 3,320 | |
Segment Information Schedule Of Segment Information 2 | (346) | |
Segment Information Schedule Of Segment Information 3 | 2,974 | |
Segment Information Schedule Of Segment Information 4 | (3,099) | |
Segment Information Schedule Of Segment Information 5 | (3,099) | |
Segment Information Schedule Of Segment Information 6 | (1,279) | |
Segment Information Schedule Of Segment Information 7 | 346 | |
Segment Information Schedule Of Segment Information 8 | (933) | |
Segment Information Schedule Of Segment Information 9 | (1,304) | |
Segment Information Schedule Of Segment Information 10 | (1,799) | |
Segment Information Schedule Of Segment Information 11 | (3,103) | |
Segment Information Schedule Of Segment Information 12 | (1,984) | |
Segment Information Schedule Of Segment Information 13 | (5) | |
Segment Information Schedule Of Segment Information 14 | (1,989) | |
Segment Information Schedule Of Segment Information 15 | (3,067) | |
Segment Information Schedule Of Segment Information 16 | (3,083) | |
Segment Information Schedule Of Segment Information 17 | (6,150) | |
Segment Information Schedule Of Segment Information 18 | (803) | |
Segment Information Schedule Of Segment Information 19 | (803) | |
Segment Information Schedule Of Segment Information 20 | (258) | |
Segment Information Schedule Of Segment Information 21 | (258) | |
Segment Information Schedule Of Segment Information 22 | 1,850 | |
Segment Information Schedule Of Segment Information 23 | 1,850 | |
Segment Information Schedule Of Segment Information 24 | $ (5,361) |
Schedule of Revenues from Major
Schedule of Revenues from Major Customers (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Segment Information Schedule Of Revenues From Major Customers 1 | $ 3,754 |
Segment Information Schedule Of Revenues From Major Customers 2 | 1,921 |
Segment Information Schedule Of Revenues From Major Customers 3 | 1,742 |
Segment Information Schedule Of Revenues From Major Customers 4 | $ 626 |
Schedule of Property, Plant and
Schedule of Property, Plant and Equipment (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Property And Equipment Schedule Of Property, Plant And Equipment 1 | $ 4,403 |
Property And Equipment Schedule Of Property, Plant And Equipment 2 | 3,638 |
Property And Equipment Schedule Of Property, Plant And Equipment 3 | 211 |
Property And Equipment Schedule Of Property, Plant And Equipment 4 | 120 |
Property And Equipment Schedule Of Property, Plant And Equipment 5 | 1,491 |
Property And Equipment Schedule Of Property, Plant And Equipment 6 | 1,200 |
Property And Equipment Schedule Of Property, Plant And Equipment 7 | 6,105 |
Property And Equipment Schedule Of Property, Plant And Equipment 8 | 4,958 |
Property And Equipment Schedule Of Property, Plant And Equipment 9 | (1,532) |
Property And Equipment Schedule Of Property, Plant And Equipment 10 | (662) |
Property And Equipment Schedule Of Property, Plant And Equipment 11 | 4,573 |
Property And Equipment Schedule Of Property, Plant And Equipment 12 | $ 4,296 |
Schedule of Investments (Detail
Schedule of Investments (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Investments In Associate, Net Schedule Of Changes In The Investment 1 | $ 0 |
Investments In Associate, Net Schedule Of Changes In The Investment 2 | 111 |
Investments In Associate, Net Schedule Of Changes In The Investment 3 | (123) |
Investments In Associate, Net Schedule Of Changes In The Investment 4 | $ (12) |
Schedule of Goodwill (Details)
Schedule of Goodwill (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Intangible Assets And Goodwill Schedule Of Goodwill 1 | $ 10,106 |
Intangible Assets And Goodwill Schedule Of Goodwill 2 | (571) |
Intangible Assets And Goodwill Schedule Of Goodwill 3 | 9,535 |
Intangible Assets And Goodwill Schedule Of Goodwill 4 | 49 |
Intangible Assets And Goodwill Schedule Of Goodwill 5 | $ 9,584 |
Schedule of Intangible Assets (
Schedule of Intangible Assets (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Intangible Assets And Goodwill Schedule Of Intangible Assets 1 | $ 16,158 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 2 | 16,073 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 3 | 237 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 4 | 237 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 5 | 331 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 6 | 330 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 7 | 1,272 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 8 | 1,266 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 9 | 17,998 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 10 | 17,906 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 11 | 2,948 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 12 | 1,253 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 13 | 15,050 |
Intangible Assets And Goodwill Schedule Of Intangible Assets 14 | $ 16,653 |
Schedule of Intangible Assets71
Schedule of Intangible Assets, Future Amortization Expense (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Intangible Assets And Goodwill Schedule Of Intangible Assets, Future Amortization Expense 1 | $ 1,615 |
Intangible Assets And Goodwill Schedule Of Intangible Assets, Future Amortization Expense 2 | $ 6,462 |
Schedule of Fair Value of Loan
Schedule of Fair Value of Loan Agreement (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Convertible Loan Agreements Schedule Of Fair Value Of Loan Agreement 1 | $ 323 |
Convertible Loan Agreements Schedule Of Fair Value Of Loan Agreement 2 | 13 |
Convertible Loan Agreements Schedule Of Fair Value Of Loan Agreement 3 | 34 |
Convertible Loan Agreements Schedule Of Fair Value Of Loan Agreement 4 | 2 |
Convertible Loan Agreements Schedule Of Fair Value Of Loan Agreement 5 | 614 |
Convertible Loan Agreements Schedule Of Fair Value Of Loan Agreement 6 | 32 |
Convertible Loan Agreements Schedule Of Fair Value Of Loan Agreement 7 | 971 |
Convertible Loan Agreements Schedule Of Fair Value Of Loan Agreement 8 | $ 47 |
Schedule of Fair Value of Instr
Schedule of Fair Value of Instruments as of Closing Date (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Convertible Loan Agreements Schedule Of Fair Value Of Instruments As Of Closing Date 1 | $ 40 |
Convertible Loan Agreements Schedule Of Fair Value Of Instruments As Of Closing Date 2 | 222 |
Convertible Loan Agreements Schedule Of Fair Value Of Instruments As Of Closing Date 3 | $ 262 |
Schedule of Long-term Debt Inst
Schedule of Long-term Debt Instruments (Details) | 12 Months Ended | |
Nov. 30, 2016USD ($) | Nov. 30, 2016EUR (€) | |
Loans Schedule Of Long-term Debt Instruments 1 | € | € 1,400 | |
Loans Schedule Of Long-term Debt Instruments 2 | 4.05% | 4.05% |
Loans Schedule Of Long-term Debt Instruments 3 | $ 952 | |
Loans Schedule Of Long-term Debt Instruments 4 | $ 1,086 | |
Loans Schedule Of Long-term Debt Instruments 5 | € | € 1,000 | |
Loans Schedule Of Long-term Debt Instruments 6 | 6.00% | 6.00% |
Loans Schedule Of Long-term Debt Instruments 7 | 7.50% | 7.50% |
Loans Schedule Of Long-term Debt Instruments 8 | $ 1,000 | |
Loans Schedule Of Long-term Debt Instruments 9 | $ 1,089 | |
Loans Schedule Of Long-term Debt Instruments 10 | € | € 790 | |
Loans Schedule Of Long-term Debt Instruments 11 | 5.50% | 5.50% |
Loans Schedule Of Long-term Debt Instruments 12 | 6.00% | 6.00% |
Loans Schedule Of Long-term Debt Instruments 13 | $ 739 | |
Loans Schedule Of Long-term Debt Instruments 14 | $ 802 | |
Loans Schedule Of Long-term Debt Instruments 15 | € | € 800 | |
Loans Schedule Of Long-term Debt Instruments 16 | 2.00% | 2.00% |
Loans Schedule Of Long-term Debt Instruments 17 | $ 529 | |
Loans Schedule Of Long-term Debt Instruments 18 | € | € 1,000 | |
Loans Schedule Of Long-term Debt Instruments 19 | 7.00% | 7.00% |
Loans Schedule Of Long-term Debt Instruments 20 | $ 1,063 | |
Loans Schedule Of Long-term Debt Instruments 21 | 3,754 | |
Loans Schedule Of Long-term Debt Instruments 22 | 3,506 | |
Loans Schedule Of Long-term Debt Instruments 23 | (463) | |
Loans Schedule Of Long-term Debt Instruments 24 | (966) | |
Loans Schedule Of Long-term Debt Instruments 25 | 3,291 | |
Loans Schedule Of Long-term Debt Instruments 26 | $ 2,540 |
Schedule of Short-term Debt (De
Schedule of Short-term Debt (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Loans Schedule Of Short-term Debt 1 | 4.05% |
Loans Schedule Of Short-term Debt 2 | $ 145 |
Loans Schedule Of Short-term Debt 3 | $ 139 |
Loans Schedule Of Short-term Debt 4 | 6.00% |
Loans Schedule Of Short-term Debt 5 | 7.50% |
Loans Schedule Of Short-term Debt 6 | $ 135 |
Loans Schedule Of Short-term Debt 7 | $ 166 |
Loans Schedule Of Short-term Debt 8 | 5.50% |
Loans Schedule Of Short-term Debt 9 | 6.00% |
Loans Schedule Of Short-term Debt 10 | $ 183 |
Loans Schedule Of Short-term Debt 11 | $ 132 |
Loans Schedule Of Short-term Debt 12 | 2.00% |
Loans Schedule Of Short-term Debt 13 | $ 529 |
Loans Schedule Of Short-term Debt 14 | 463 |
Loans Schedule Of Short-term Debt 15 | $ 966 |
Loans Schedule Of Short-term Debt 16 | 7.00% |
Loans Schedule Of Short-term Debt 17 | $ 648 |
Loans Schedule Of Short-term Debt 18 | $ 1,334 |
Loans Schedule Of Short-term Debt 19 | 6.30% |
Loans Schedule Of Short-term Debt 20 | $ 529 |
Loans Schedule Of Short-term Debt 21 | 1,111 |
Loans Schedule Of Short-term Debt 22 | $ 2,829 |
Schedule of Fair Value of Ins76
Schedule of Fair Value of Instruments for Financing (Details) - USD ($) | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
Equity Schedule Of Fair Value Of Instruments For Financing 1 | $ 466 | |
Equity Schedule Of Fair Value Of Instruments For Financing 2 | 84 | |
Equity Schedule Of Fair Value Of Instruments For Financing 3 | 938 | |
Equity Schedule Of Fair Value Of Instruments For Financing 4 | $ 1,488 | |
Equity Schedule Of Fair Value Of Instruments For Financing 1 | $ 1,390 | |
Equity Schedule Of Fair Value Of Instruments For Financing 2 | 1,529 | |
Equity Schedule Of Fair Value Of Instruments For Financing 3 | 1,284 | |
Equity Schedule Of Fair Value Of Instruments For Financing 4 | $ 4,203 |
Schedule of Fair Value of Priva
Schedule of Fair Value of Private Placements (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Equity Schedule Of Fair Value Of Private Placements 1 | $ 192,308 |
Equity Schedule Of Fair Value Of Private Placements 2 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 3 | $ 7,891,109 |
Equity Schedule Of Fair Value Of Private Placements 4 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 5 | $ 2,111,038 |
Equity Schedule Of Fair Value Of Private Placements 6 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 7 | $ 192,308 |
Equity Schedule Of Fair Value Of Private Placements 8 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 9 | $ 769,231 |
Equity Schedule Of Fair Value Of Private Placements 10 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 11 | $ 490,293 |
Equity Schedule Of Fair Value Of Private Placements 12 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 13 | $ 288,462 |
Equity Schedule Of Fair Value Of Private Placements 14 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 15 | $ 865,384 |
Equity Schedule Of Fair Value Of Private Placements 16 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 17 | $ 120,192 |
Equity Schedule Of Fair Value Of Private Placements 18 | 0.52 |
Equity Schedule Of Fair Value Of Private Placements 19 | $ 12,920,325 |
Schedule of Fair Value of Warra
Schedule of Fair Value of Warrants (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Equity Schedule Of Fair Value Of Warrants 1 | $ 200,000 |
Equity Schedule Of Fair Value Of Warrants 2 | 0.5 |
Equity Schedule Of Fair Value Of Warrants 3 | $ 1,032,695 |
Equity Schedule Of Fair Value Of Warrants 4 | 0.5 |
Equity Schedule Of Fair Value Of Warrants 5 | $ 713,023 |
Equity Schedule Of Fair Value Of Warrants 6 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 7 | $ 384,615 |
Equity Schedule Of Fair Value Of Warrants 8 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 9 | $ 192,308 |
Equity Schedule Of Fair Value Of Warrants 10 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 11 | $ 144,230 |
Equity Schedule Of Fair Value Of Warrants 12 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 13 | $ 115,385 |
Equity Schedule Of Fair Value Of Warrants 14 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 15 | $ 2,358,490 |
Equity Schedule Of Fair Value Of Warrants 16 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 17 | $ 30,613 |
Equity Schedule Of Fair Value Of Warrants 18 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 19 | $ 288,461 |
Equity Schedule Of Fair Value Of Warrants 20 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 21 | $ 215,655 |
Equity Schedule Of Fair Value Of Warrants 22 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 23 | $ 7,692 |
Equity Schedule Of Fair Value Of Warrants 24 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 25 | $ 7,701 |
Equity Schedule Of Fair Value Of Warrants 26 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 27 | $ 840,369 |
Equity Schedule Of Fair Value Of Warrants 28 | 0.52 |
Equity Schedule Of Fair Value Of Warrants 29 | $ 6,531,237 |
Schedule of Earnings Per Share,
Schedule of Earnings Per Share, Basic and Diluted (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 1 | $ 9,194 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 2 | 4,461 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 3 | 102,258,854 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 4 | $ 55,798,416 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 5 | 0.09 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 6 | 0.08 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 7 | $ 9,194 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 8 | 4,461 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 9 | 1,272 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 10 | 559 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 11 | 9,194 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 12 | 6,292 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 13 | 102,258,854 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 14 | 55,798,416 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 15 | 873,380 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 16 | 249,116 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 17 | 102,258,854 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 18 | $ 56,920,912 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 19 | 0.09 |
Loss Per Share Schedule Of Earnings Per Share, Basic And Diluted 20 | 0.11 |
Employee Stock Ownership Plan (
Employee Stock Ownership Plan (ESOP) Disclosures (Details) | 12 Months Ended |
Nov. 30, 2016USD ($)yr | |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 1 | $ 500,000 |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 2 | 0.53 |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 3 | $ 136 |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 4 | 5 |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 5 | 3,046,250 |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 6 | $ 0.36 |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 7 | yr | 2 |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 8 | $ 697 |
Stock Based Compensation Employee Stock Ownership Plan (esop) Disclosures 9 | $ 10 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 0.28 |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | $ 0.36 |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 0.53 |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 0.00% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 0.00% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | 87.40% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7 | 89.00% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8 | 85.70% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 9 | 1.32% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 10 | 1.33% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 11 | 1.68% |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 12 | $ 5 |
Stock Based Compensation Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 13 | 2.5 |
Schedule of Stock Options Grant
Schedule of Stock Options Granted to Employees and Directors (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 1 | $ 10,341,210 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 2 | 0.16 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 3 | $ 12,809,455 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 4 | 0.27 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 5 | $ 3,046,250 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 6 | 0.19 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 7 | $ 500,000 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 8 | 0.53 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 9 | $ (2,440,120) |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 10 | 0.68 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 11 | $ (528,125) |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 12 | 0.5 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 13 | $ (1,641,300) |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 14 | 0.28 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 15 | $ 11,746,160 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 16 | 0.16 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 17 | $ 10,341,210 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 18 | 0.16 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 19 | $ 10,557,105 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 20 | 0.14 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 21 | $ 8,696,162 |
Stock Based Compensation Schedule Of Stock Options Granted To Employees And Directors 22 | 0.09 |
Schedule of Information Stock O
Schedule of Information Stock Options Granted to Employees and Directors (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 1 | 0.0001 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 2 | $ 5,544,155 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 3 | 6.8 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 4 | $ 2,162 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 5 | 5,000,344 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 6 | $ 1 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 7 | 0.001 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 8 | $ 3,338,285 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 9 | 5.2 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 10 | $ 1,299 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 11 | 3,338,285 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 12 | $ 3 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 13 | 0.36 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 14 | $ 300,000 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 15 | 9.4 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 16 | $ 9 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 17 | 37,500 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 18 | $ 14 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 19 | 0.5 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 20 | $ 400,000 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 21 | 7.7 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 22 | $ 400,000 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 23 | $ 200 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 24 | 0.53 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 25 | $ 500,000 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 26 | 3.5 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 27 | $ 500,000 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 28 | $ 265 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 29 | 0.75 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 30 | $ 250,000 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 31 | 6.6 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 32 | $ 150,000 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 33 | $ 113 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 34 | 0.79 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 35 | $ 942,520 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 36 | 5.6 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 37 | $ 754,016 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 38 | $ 596 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 39 | 0.85 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 40 | $ 471,200 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 41 | 5.5 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 42 | $ 376,960 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 43 | 320 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 44 | $ 11,746,160 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 45 | 6.1 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 46 | $ 3,470 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 47 | 10,557,105 |
Stock Based Compensation Schedule Of Information Stock Options Granted To Employees And Directors 48 | $ 1,512 |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options Granted to Consultants (Details) | 12 Months Ended | |
Nov. 30, 2016USD ($)yr | Nov. 30, 2015USD ($)yr | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 1 | $ 1,000,000 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 2 | 0.3 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 3 | $ 187 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 4 | yr | 4 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 1 | $ 200,000 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 2 | 0.65 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 3 | $ 0.52 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 4 | $ 49 | |
Stock Based Compensation Schedule Of Share-based Compensation, Stock Options Granted To Consultants 5 | yr | 5 |
Schedule of Fair Value of Stock
Schedule of Fair Value of Stock Options Granted Valuation Assumptions (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 1 | 0.3 |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 2 | $ 0.34 |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 3 | 0.65 |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 4 | $ 0.53 |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 5 | 0.00% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 6 | 0.00% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 7 | 87.00% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 8 | 95.00% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 9 | 86.00% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 10 | 89.00% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 11 | 1.19% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 12 | 2.34% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 13 | 1.34% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 14 | 1.42% |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 15 | $ 1 |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 16 | 9 |
Stock Based Compensation Schedule Of Fair Value Of Stock Options Granted Valuation Assumptions 17 | $ 5 |
Schedule of Stock Options Gra86
Schedule of Stock Options Granted to Non-Employees (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 1 | $ 2,658,104 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 2 | 0.75 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 3 | $ 2,458,104 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 4 | 0.75 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 5 | $ 1,000,000 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 6 | 0.3 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 7 | $ 200,000 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 8 | 0.51 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 9 | $ 1,641,300 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 10 | 0.28 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 11 | $ 5,299,404 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 12 | 0.52 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 13 | $ 2,658,104 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 14 | 0.75 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 15 | $ 4,647,404 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 16 | 0.51 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 17 | $ 1,521,624 |
Stock Based Compensation Schedule Of Stock Options Granted To Non-employees 18 | 0.65 |
Schedule of Information Options
Schedule of Information Options Granted to Non-Employees (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 1 | 0.28 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 2 | $ 1,641,300 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 3 | 9.4 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 4 | 0.28 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 5 | $ 181 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 6 | 1,641,300 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 7 | $ 460 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 8 | 0.3 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 9 | $ 1,000,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 10 | 0.25 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 11 | 0.3 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 12 | $ 90 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 13 | 1,000,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 14 | $ 300 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 15 | 0.50 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 16 | $ 1,080,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 17 | 1.67 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 18 | 0.50 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 19 | $ 648,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 20 | $ 324 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 21 | 0.54 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 22 | $ 100,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 23 | 3.53 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 24 | 0.54 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 25 | $ 20,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 26 | $ 10 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 27 | 0.61 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 28 | $ 100,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 29 | 5.98 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 30 | 0.61 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 31 | $ 80,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 32 | $ 49 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 33 | 0.65 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 34 | $ 100,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 35 | 3.2 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 36 | 0.65 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 37 | $ 20,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 38 | $ 13 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 39 | 0.69 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 40 | $ 706,904 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 41 | 5.5 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 42 | 0.69 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 43 | $ 706,904 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 44 | $ 488 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 45 | 0.96 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 46 | $ 100,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 47 | 6.35 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 48 | 0.96 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 49 | $ 60,000 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 50 | $ 58 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 51 | 1.40 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 52 | $ 471,200 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 53 | 5.38 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 54 | 1.40 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 55 | $ 471,200 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 56 | 660 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 57 | $ 5,299,404 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 58 | 4.7 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 59 | 0.75 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 60 | $ 271 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 61 | 4,647,404 |
Stock Based Compensation Schedule Of Information Options Granted To Non-employees 62 | $ 2,362 |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Taxes Schedule Of Deferred Tax Assets 1 | $ 8,278 |
Taxes Schedule Of Deferred Tax Assets 2 | 5,658 |
Taxes Schedule Of Deferred Tax Assets 3 | 655 |
Taxes Schedule Of Deferred Tax Assets 4 | 268 |
Taxes Schedule Of Deferred Tax Assets 5 | 152 |
Taxes Schedule Of Deferred Tax Assets 6 | 31 |
Taxes Schedule Of Deferred Tax Assets 7 | (355) |
Taxes Schedule Of Deferred Tax Assets 8 | (178) |
Taxes Schedule Of Deferred Tax Assets 9 | 1 |
Taxes Schedule Of Deferred Tax Assets 10 | 45 |
Taxes Schedule Of Deferred Tax Assets 11 | (325) |
Taxes Schedule Of Deferred Tax Assets 12 | (508) |
Taxes Schedule Of Deferred Tax Assets 13 | (5,117) |
Taxes Schedule Of Deferred Tax Assets 14 | (5,661) |
Taxes Schedule Of Deferred Tax Assets 15 | (5,151) |
Taxes Schedule Of Deferred Tax Assets 16 | (2,982) |
Taxes Schedule Of Deferred Tax Assets 17 | (1,862) |
Taxes Schedule Of Deferred Tax Assets 18 | $ (3,327) |
Schedule of Valuation Allowance
Schedule of Valuation Allowance, Activity (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Taxes Schedule Of Valuation Allowance, Activity 1 | $ (2,982) |
Taxes Schedule Of Valuation Allowance, Activity 2 | (1,870) |
Taxes Schedule Of Valuation Allowance, Activity 3 | (2,169) |
Taxes Schedule Of Valuation Allowance, Activity 4 | (1,112) |
Taxes Schedule Of Valuation Allowance, Activity 5 | (5,151) |
Taxes Schedule Of Valuation Allowance, Activity 6 | $ (2,982) |
Schedule of Assets and Liabilit
Schedule of Assets and Liabilities at Fair Value (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 1 | $ 1,843 |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 2 | 1,382 |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 3 | 76 |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 4 | 1,533 |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 5 | 240 |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 6 | 289 |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 7 | 273 |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 8 | 1,818 |
Fair Value Presentation Schedule Of Assets And Liabilities At Fair Value 9 | $ 1,888 |
Schedule of Fair Value, Assumpt
Schedule of Fair Value, Assumptions Used (Details) | 12 Months Ended | |
Nov. 30, 2016USD ($) | Nov. 30, 2015USD ($) | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 1 | 0.39 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 2 | 0.39 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 3 | 94.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 4 | 103.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 5 | 103.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 6 | 63.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 7 | 16.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 8 | $ 0 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 9 | 0.57% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 10 | 1.28% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 11 | 0.38% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 12 | 0.62% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 13 | 0.90% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 14 | 1.9 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 15 | 2.6 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 16 | 0.08 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 17 | 0.42 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 18 | 0.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 19 | 0.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 20 | 20.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 21 | 26.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 22 | 3.34 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 1 | 0.33 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 2 | 0.33 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 3 | 0.33 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 4 | 87.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 5 | 98.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 6 | 87.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 7 | 88.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 8 | 14.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 9 | $ 0 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 10 | 18.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 11 | 0.44% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 12 | 1.24% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 13 | 0.11% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 14 | 0.49% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 15 | 0.42% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 16 | 2.9 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 17 | $ 3 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 18 | 0.08 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 19 | 0.87 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 20 | 0.8 | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 21 | 0.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 22 | 0.00% | |
Fair Value Presentation Schedule Of Fair Value, Assumptions Used 23 | 0.00% |
Schedule of Fair Value of Finan
Schedule of Fair Value of Financial Liabilities, Activity (Details) - USD ($) | 12 Months Ended | |
Nov. 30, 2016 | Nov. 30, 2015 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 1 | $ 1,382 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 2 | 289 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 3 | 1,888 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 4 | 1,533 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 5 | 802 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 6 | 40 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 7 | 120 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 8 | 273 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 9 | (10) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 10 | (108) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 11 | (341) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 12 | (87) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 13 | (84) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 14 | (1,469) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 15 | 8 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 16 | 14 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 17 | 1,843 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 18 | 240 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 19 | 1,818 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 20 | 76 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 21 | $ 273 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 1 | $ 560 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 2 | 992 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 3 | 1,390 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 4 | 112 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 5 | 3,234 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 6 | 1,526 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 7 | (525) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 8 | 7 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 9 | (43) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 10 | (815) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 11 | (1,221) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 12 | (125) | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 13 | 1 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 14 | 382 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 15 | 289 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 16 | 1,888 | |
Fair Value Presentation Schedule Of Fair Value Of Financial Liabilities, Activity 17 | $ 1,533 |
Schedule of Sensitivity Analysi
Schedule of Sensitivity Analysis of Fair Value, Warrants (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Fair Value, Warrants 1 | 10.00% |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Fair Value, Warrants 2 | 10.00% |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Fair Value, Warrants 3 | $ 1,662 |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Fair Value, Warrants 4 | 1,843 |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Fair Value, Warrants 5 | $ 2,008 |
Schedule of Sensitivity Analy94
Schedule of Sensitivity Analysis of Changes in Fair Value, Price Protection Derivative (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Price Protection Derivative 1 | 10.00% |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Price Protection Derivative 2 | 10.00% |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Price Protection Derivative 3 | $ 75 |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Price Protection Derivative 4 | 76 |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Price Protection Derivative 5 | $ 77 |
Schedule of Sensitivity Analy95
Schedule of Sensitivity Analysis of Changes in Fair Value, Put Option Derivative (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Put Option Derivative 1 | 50.00% |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Put Option Derivative 2 | 50.00% |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Put Option Derivative 3 | $ (261) |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Put Option Derivative 4 | (273) |
Fair Value Presentation Schedule Of Sensitivity Analysis Of Changes In Fair Value, Put Option Derivative 5 | $ (280) |
Schedule of Revenue (Details)
Schedule of Revenue (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Revenues Schedule Of Revenue 1 | $ 4,683 |
Revenues Schedule Of Revenue 2 | 1,924 |
Revenues Schedule Of Revenue 3 | 1,714 |
Revenues Schedule Of Revenue 4 | 1,050 |
Revenues Schedule Of Revenue 5 | 6,397 |
Revenues Schedule Of Revenue 6 | $ 2,974 |
Schedule of Research and Develo
Schedule of Research and Development Expenses (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Research And Development Expenses, Net Schedule Of Research And Development Expenses 1 | $ 2,637 |
Research And Development Expenses, Net Schedule Of Research And Development Expenses 2 | 1,860 |
Research And Development Expenses, Net Schedule Of Research And Development Expenses 3 | (480) |
Research And Development Expenses, Net Schedule Of Research And Development Expenses 4 | (793) |
Research And Development Expenses, Net Schedule Of Research And Development Expenses 5 | 2 |
Research And Development Expenses, Net Schedule Of Research And Development Expenses 6 | 57 |
Research And Development Expenses, Net Schedule Of Research And Development Expenses 7 | $ 1,067 |
Schedule of Financial Expenses
Schedule of Financial Expenses (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 1 | $ (1,587) |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 2 | (2,596) |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 3 | 208 |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 4 | 694 |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 5 | 726 |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 6 | 31 |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 7 | 50 |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 8 | (5) |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 9 | (30) |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 10 | (659) |
Financial Expenses (incomes), Net Schedule Of Financial Expenses 11 | $ (1,850) |
Schedule of Related Party Trans
Schedule of Related Party Transactions (Details) | 12 Months Ended |
Nov. 30, 2016USD ($) | |
Related Party Transactions Schedule Of Related Party Transactions 1 | $ 30 |
Related Party Transactions Schedule Of Related Party Transactions 2 | 57 |
Related Party Transactions Schedule Of Related Party Transactions 3 | 54 |
Related Party Transactions Schedule Of Related Party Transactions 4 | 71 |
Related Party Transactions Schedule Of Related Party Transactions 5 | $ 350 |