BioPower Operations (BOPO) 10-Q 13 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Feb. 28, 2015	8-May-15
Document And Entity Information [Abstract]
Entity Registrant Name	Biopower Operations Corp
Entity Central Index Key	1510832
Document Type	10-Q
Document Period End Date	28-Feb-15
Current Fiscal Year End Date	-19
Amendment Flag	FALSE
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		41,607,680
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Feb. 28, 2015	Nov. 30, 2014
Current Assets
Cash	$22,963	$15,118
Prepaid expenses	204	818
Total Current Assets	23,167	15,936
Equipment - net	18,149	21,234
Security deposit	11,193	11,193
Total Noncurrent Assets	29,342	32,427
Total Assets	52,509	48,363
Current Liabilities
Accounts payable and accrued expenses	417,816	419,090
Accounts payable and accrued expenses - related parties	1,647,037	1,455,540
Notes payable	217,500	155,000
Notes payable - related parties	43,025	51,375
Convertible debt, net of discount	3,333	62,500
Convertible debt - related parties, net of discount	3,333
Total Current Liabilities	2,332,044	2,143,505
Total Liabilities	2,332,044	2,143,505
Stockholders' Deficit
Preferred stock, $1 par value; 10,000 shares authorized; 1 share issued and outstanding	1	1
Common stock, $0.0001 par value, 100,000,000 shares authorized; 41,607,676 and 41,107,676 shares issued and outstanding	4,162	4,112
Additional paid-in capital	3,650,881	3,580,931
Deficit accumulated	-5,934,579	-5,680,186
Total Stockholders' Deficit	-2,279,535	-2,095,142
Total Liabilities and Stockholders' Deficit	$52,509	$48,363

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Feb. 28, 2015	Nov. 30, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value	$1	$1
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	1	1
Preferred stock, shares outstanding	1	1
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	41,607,676	41,107,676
Common stock, shares outstanding	41,607,676	41,107,676

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (USD $)	3 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Income Statement [Abstract]
General and administrative expenses	$248,385	$360,453
Other income (expense)
Interest expense	-3,926	-5,895
Interest expense - related party	-2,082
Consulting revenue, net of expense		76,533
Total other income (expense) - net	-6,008	70,638
Net loss	-254,393	-289,815
Net loss per common share - basic and diluted	($0.01)	($0.01)
Weighted average number of common shares outstanding during the period - basic and diluted	41,371,465	30,281,180
Comprehensive loss
Net loss	-254,393	-289,815
Unrealized loss on available-for-sale marketable securities
Reclassification adjustment due to impairment on available-for-sale securities
Comprehensive loss	($254,393)	($289,815)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($254,393)	($289,815)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense		103,750
Depreciation	3,085	3,085
Amortization of debt discount	1,667
Changes in operating assets and liabilities:
Accounts receivable		5,265
Prepaid expenses	614	9,894
Accounts payable and accrued expenses	-1,274	-72,415
Accounts payable and accrued expenses - related parties	191,496	114,953
Net Cash Provided by (Used In) Operating Activities	-58,805	-125,284
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment		-4,754
Net Cash Provided By (Used In) Investing Activities		-4,754
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible debt	7,500	125,000
Proceeds from notes payable - related parties	-850
Proceeds from issuance of common stock	60,000
Net Cash Provided By Financing Activities	66,650	125,000
Net Increase in Cash	7,845	-5,038
Cash - Beginning of Period	15,118	109,172
Cash - End of Period	22,963	104,134
Cash Paid During the Period for:
Income Taxes
Interest
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued for conversion of notes payable		209,620
Debt discount recorded on convertible debt	5,000	81,250
Debt discount recorded on convertible debt - related party	5,000
Reclassification-Jeffrey Kaliner	62,500
Reclassification-Bonnie Nelson	$7,500

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Feb. 28, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 Basis of Presentation
	The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. It is our opinion, however, that the accompanying unaudited interim consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.
	In the quarter ending May 31, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to development stage.
	The accompanying unaudited interim consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended November 30, 2014 as filed with the SEC, which contains the audited financial statements and notes thereto, together with Management’s Discussion and Analysis, for the years ended November 30, 2014 and 2013. The financial information as of February 28, 2015 is derived from the audited financial statements presented in our Annual Report on Form 10-K for the year ended November 30, 2014. The interim results for the three months ended February 28, 2015 are not necessarily indicative of the results to be expected for the year ending November 30, 2015 or for any future interim periods.

Going_Concern

Going Concern	3 Months Ended
	Feb. 28, 2015
Going Concern [Abstract]
Going Concern	Note 2 Going Concern
	As reflected in the accompanying consolidated financial statements, the Company had a net loss of $254,393 and $289,815, for the three months ended February 28, 2015 and 2014, respectively, and net cash used in operations of $58,805 and $125,284 for the three months ended February 28, 2015 and 2014, respectively. Additionally, the Company had a working capital deficit of $2,308,877, for the three months ended February 28, 2015 and a stockholders’ deficit of $2,279,535 at February 28, 2015. These factors raise substantial doubt about the Company’s ability to continue as a going concern.
	The ability of the Company to continue as a going concern is dependent on Management’s plans, which include potential asset acquisitions, mergers or business combinations with other entities, further implementation of its business plan and continuing to raise funds through debt and/or equity financings. The Company will likely rely upon related party debt and/or equity financing in order to ensure the continuing existence of the business.
	The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Equipment

Equipment	3 Months Ended
	Feb. 28, 2015
Property, Plant and Equipment [Abstract]
Equipment	Note 3 Equipment
	At February 28, 2015 and November 30, 2014, equipment consists of the following:
		2015			2014			Estimated Useful Life
	Computer Equipment	$	27,760		$	27,760		5 years
	Testing Equipment		20,366			20,366		3 years
	Less: Accumulated depreciation		(29,977	)		(26,892	)
	Equipment, net	$	18,149		$	21,234
	Depreciation expense was $3,085 and $3,085 for the three months ended February 28, 2015 and 2014, respectively.

Notes_Payable_and_Convertible_

Notes Payable and Convertible Debt	3 Months Ended
	Feb. 28, 2015
Debt Disclosure [Abstract]
Notes Payable and Convertible Debt	Note 4 Notes Payable and Convertible Debt
	Notes payable consists of the following:
			Balance			Interest Rate		Maturity
	Balance – November 30, 2014	$	155,000			8	%	30-Jun-15
	Reclassification of convertible debt to notes payable		62,500			8	%	Due on Demand
	Balance – February 28, 2015	$	217,500
	In December, 2013, a third party investor purchased $125,000 of convertible debt, bearing interest, at 8% interest, and due February, 2015. In November, 2014, the Company converted $62,500 according to the terms of the Convertible Note Purchase Agreement. The remaining balance of $62,500 is not convertible to common shares of the Company’s stock. The $62,500 note payable bears interest at 8% and is due on May 25, 2015.
	In December, 2014, a third party investor advanced $7,500, at 8% interest, which is due on December 30, 2015.
	In December, 2014 a third party investor combined two previous loans dated July 2, 2013 and September 11, 2014 for $18,000 and $5,000, respectively, into a new loan of $23,000, at 8% interest. The new loan is payable on May 5, 2015.
	Convertible debt consists of the following:
		Balance			Interest			Maturity	Conversion
					Rate				Price
	Balance – November 30, 2014	$	62,500			8	%		$	0.1
	Reclassification to notes payable		(62,500	)
	Borrowings		7,500			8	%	Dec. 30. 2015	$	0.12
	Balance - February 28, 2015	$	7,500			8	%
	On December 30, 2014 a third party investor advanced $7,500 due on or before December 30, 2015. Pursuant to the agreement, the investor is allowed to convert 100% of the debt at a share price of $0.12. The company accounted for the conversion of loan in accordance with ASC 470, “Debt with Conversion and Other Options”. The loan was deemed to have a beneficial conversion feature because the fair value of the stock exceeded the effective conversion price embedded in the loan on the commitment date. Accordingly, the Company recorded the value of the beneficial conversion feature, which was determined to be $5,000 as a discount to the loan and a corresponding increase to additional paid in capital.
	Accrued interest on notes payable and convertible debt at February 28, 2015 and February 28, 2014 amounted to $12,375 and $11,436, respectively, which is included as a component of accounts payable and accrued expenses.
	Interest expense on notes payable and convertible debt with third parties amounted to $3,925 and $4,850 for the three months ended February 28, 2015 and 2014, respectively.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Feb. 28, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Note 5 Related Party Transactions
	Notes payable to related parties at February 28, 2015 and November 30, 2014 is $43,025 and $51,375, respectively. Convertible notes payable to related parties is $7,500 at February 28, 2015.
	Accrued interest at February 28, 2015 and November 30, 2014, amounted to $1,439 and $190, respectively and is a component of accounts payable and accrued expenses – related parties.
	On November 5, 2014, the Director of Business Strategy made a loan of $50,000, bearing interest at 8% which is due on May 5, 2015. The $50,000 non-convertible loan included a provision for matching, future conversion rights with any new loans made by the company with the exception of a Right of First Refusal. On December 30, 2014, a third party investor loaned the Company $7,500 with conversion rights at $0.12 per share. Therefore, effective December 30, 2014, $7,500 of the director’s $50,000 note payable was reclassified to convertible debt with conversion rights of $0.12 per share. The company accounted for the conversion of loan in accordance with ASC 470, “Debt with Conversion and Other Options”. The loan was deemed to have a beneficial conversion feature because the fair value of the stock exceeded the effective conversion price embedded in the loan on the commitment date. Accordingly, the Company recorded the value of the beneficial conversion feature, which was determined to be $5,000 as a discount to the loan and a corresponding increase to additional paid in capital.
	The Company has separated accounts payable and accrued expenses on the balance sheet to reflect amounts due to related parties primarily consisting of officer compensation, health insurance, interest on notes and reimbursable expenses to officers for travel, meals and entertainment, vehicle and other related business expenses.

Stockholders_Deficit

Stockholders' Deficit	3 Months Ended
	Feb. 28, 2015
Equity [Abstract]
Stockholders' Deficit	Note 6 Stockholders’ Deficit
	Common Stock
	For the three months ended February 28, 2015:
	The Company issued 500,000 shares of stock to unrelated third parties for cash totaling $60,000, at a price of $0.12 per share. There are 41,607,676 and 41,107,676 shares issued and outstanding at February 28, 2015 and November 30, 2014, respectively.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Feb. 28, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 7 Commitments and Contingencies
	Commitments
	Employment Agreements – Officers and Directors
	As of November 30, 2014, the Company had employment agreements with certain officers and directors (two individuals) containing the following provisions:
	Term of contract	4 years, expiring on November 30, 2018
	Salary	$275,000 commencing December 1, 2014
	Salary deferral	All salaries will be accrued but may be paid from the Company’s available cash flow funds.
	Annual Salaries:
	Name	Starting	2014-15		2015-2016		2016-2017
		Dec. 1, 2014
	Robert Kohn		$	275,000	$	325,000	$	375,000
	Bonnie Nelson		$	275,000	$	325,000	$	375,000
	Lease Agreement
	On June 3, 2013, the Company entered into a new lease agreement with its current landlord. The lease is for a 24 month period, expiring on May 31, 2015 , and requires monthly base rental payments of $ 4,000 for the period from June 1, 2013 through May 31, 2014 and $ 4,080 for the period from June 1, 2014 through May 31, 2015 plus adjustments for Common Area Expenses.
	Rent expense was $12,821 and $16,606 for the three months ended February 28, 2015 and 2014, respectively.
	Contingencies
	From time to time, the Company may be involved in legal matters arising in the ordinary course of business. While the Company believes that such matters are currently not material, there can be no assurance that matters arising in the ordinary course of business for which the Company is, or could be, involved in litigation, will not have a material adverse effect on its business, financial condition or results of operations.

Subsequent_Events

Subsequent Events	3 Months Ended
	Feb. 28, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 8. Subsequent Events
	None

Equipment_Tables

Equipment (Tables)	3 Months Ended
	Feb. 28, 2015
Property, Plant and Equipment [Abstract]
Components of Equipment	At February 28, 2015 and November 30, 2014, equipment consists of the following:
		2015			2014			Estimated Useful Life
	Computer Equipment	$	27,760		$	27,760		5 years
	Testing Equipment		20,366			20,366		3 years
	Less: Accumulated depreciation		(29,977	)		(26,892	)
	Equipment, net	$	18,149		$	21,234

Notes_Payable_and_Convertible_1

Notes Payable and Convertible Debt (Tables)	3 Months Ended
	Feb. 28, 2015
Debt Disclosure [Abstract]
Schedule of Notes Payable	Notes payable consists of the following:
			Balance			Interest Rate		Maturity
	Balance – November 30, 2014	$	155,000			8	%	30-Jun-15
	Reclassification of convertible debt to notes payable		62,500			8	%	Due on Demand
	Balance – February 28, 2015	$	217,500
Schedule of Convertible Debt	Convertible debt consists of the following:
		Balance			Interest			Maturity	Conversion
					Rate				Price
	Balance – November 30, 2014	$	62,500			8	%		$	0.1
	Reclassification to notes payable		(62,500	)
	Borrowings		7,500			8	%	Dec. 30. 2015	$	0.12
	Balance - February 28, 2015	$	7,500			8	%

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Feb. 28, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Employees Compensation	Annual Salaries:
	Name	Starting	2014-15		2015-2016		2016-2017
		Dec. 1, 2014
	Robert Kohn		$	275,000	$	325,000	$	375,000
	Bonnie Nelson		$	275,000	$	325,000	$	375,000

Going_Concern_Details_Narrativ

Going Concern (Details Narrative) (USD $)	3 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Nov. 30, 2014
Going Concern [Abstract]
Net loss for years	$254,393	$289,815
Net cash used in operations	58,805	125,284
Working capital deficit	2,308,877
Stockholders' deficit	$2,279,535		$2,095,142

Equipment_Details_Narrative

Equipment (Details Narrative) (USD $)	3 Months Ended
	Feb. 28, 2015	Feb. 28, 2014
Property, Plant and Equipment [Abstract]
Depreciation expense	$3,085	$3,085

Equipment_Components_of_Equipm

Equipment - Components of Equipment (Details) (USD $)	3 Months Ended	12 Months Ended
	Feb. 28, 2015	Nov. 30, 2014
Less: Accumulated depreciation	($29,977)	($26,892)
Equipment, net	18,149	21,234
Computer Equipment [Member]
Equipment, gross	27,760	27,760
Estimated Useful Life	5 years	5 years
Testing Equipment [Member]
Equipment, gross	$20,366	$20,366
Estimated Useful Life	3 years	3 years

Notes_Payable_and_Convertible_2

Notes Payable and Convertible Debt (Details Narrative) (USD $)	3 Months Ended		1 Months Ended		0 Months Ended	1 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Dec. 31, 2014	Nov. 30, 2014	Dec. 30, 2014	Dec. 31, 2013	Sep. 11, 2014	Jul. 02, 2013
Convertible debt	$7,500			$62,500
Debt due date description	Due on Demand
Note payable	217,500			155,000
Debt conversion price per share	$0.12			$0.10
Accrued interest on notes payable	12,375	11,436
Interest expense on notes payable	3,925	4,850
Third Party Investor [Member] | New Loan [Member]
Investor advanced			23,000
Percentage of debt instrument interest rate			8.00%
Debt due date			5-May-15
Convertible Note Purchase Agreement [Member]
Convertible debt				62,500
Percentage of debt instrument interest rate				8.00%
Convertible debt remaining balance				62,500
Note payable				62,500
Debt due date				25-May-15
Third Party Investors [Member]
Convertible debt						125,000
Investor advanced			7,500		7,500		18,000	5,000
Percentage of debt instrument interest rate			8.00%			8.00%
Debt due date description						February, 2015
Debt due date			30-Dec-15		30-Dec-15
Percentage of conversion of debt					100.00%
Debt conversion price per share					$0.12
Beneficial conversion feature					$5,000

Notes_Payable_and_Convertible_3

Notes Payable and Convertible Debt - Schedule of Notes Payable (Details) (USD $)	3 Months Ended
	Feb. 28, 2015	Feb. 28, 2014	Nov. 30, 2014
Debt Disclosure [Abstract]
Beginning balance	$155,000
Reclassification of convertible debt to notes payable	62,500
Interest Rate	8.00%		8.00%
Reclassification of convertible debt interest rate	8.00%
Ending balance	$217,500
Maturity	Due on Demand
Debt, Maturity date	30-Dec-15

Notes_Payable_and_Convertible_4

Notes Payable and Convertible Debt - Schedule of Convertible Debt (Details) (USD $)	3 Months Ended
	Feb. 28, 2015	Nov. 30, 2014
Debt Disclosure [Abstract]
Beginning balance	$62,500
Reclassification to notes payable	-62,500
Borrowings	7,500
Ending Balance	$7,500
Interest Rate	8.00%	8.00%
Borrowings Interest rate	8.00%
Debt, Maturity date	30-Dec-15
Conversion Price	$0.12	$0.10

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	3 Months Ended	0 Months Ended
	Feb. 28, 2015	Nov. 05, 2014	Dec. 30, 2014	Nov. 30, 2014
Notes payable to related parties	$43,025			$51,375
Convertible notes payable to related parties	7,500
Accrued interest	1,439			190
Debt instrument bearing interest	8.00%			8.00%
Debt instrument maturity date	30-Dec-15
Conversion price per share	$0.12			$0.10
Director [Member]
Loan amount		50,000
Debt instrument bearing interest		8.00%
Debt instrument maturity date		5-May-15
Third Party Investors [Member]
Loan amount			7,500
Conversion price per share			$0.12
Beneficial conversion feature			$5,000

Stockholders_Deficit_Details_N

Stockholders' Deficit (Details Narrative) (USD $)	3 Months Ended
	Feb. 28, 2015	Nov. 30, 2014
Stockholders Equity Disclosure [Line Items]
Stock issuance price per share	$0.80
Common stock, shares issued	41,607,676	41,107,676
Common stock, shares outstanding	41,607,676	41,107,676
Unrelated Third Parties [Member]
Stockholders Equity Disclosure [Line Items]
Stock issued during period for cash	$500,000
Stock issued during period for cash, shares	60,000
Stock issuance price per share	$0.12

Commitments_and_Contingencies_1

Commitments and Contingencies (Details Narrative) (USD $)	0 Months Ended	3 Months Ended		12 Months Ended	0 Months Ended
	Jan. 03, 2013	Feb. 28, 2015	Feb. 28, 2014	31-May-14	Nov. 30, 2014
Commitments and Contingencies Disclosure [Line Items]
Lease term	24 months
Lease expiration date	31-May-15
Rent expense		$12,821	$16,606	$4,000
June 1, 2014 through May 31, 2015 [Member]
Commitments and Contingencies Disclosure [Line Items]
Rent expense		4,080
Two Individuals [Member]
Commitments and Contingencies Disclosure [Line Items]
Employment contract term					4 years
Salaries, wages and officers' compensation					$275,000
Lease expiration date					30-Nov-18

Commitments_and_Contingencies_2

Commitments and Contingencies - Schedule of Employees Compensation (Details) (USD $)	3 Months Ended
	Feb. 28, 2015
Robert Kohn [Member] | 2014-15 [Member]
Annual Salaries	$275,000
Robert Kohn [Member] | 2015-2016 [Member]
Annual Salaries	325,000
Robert Kohn [Member] | 2016-2017 [Member]
Annual Salaries	375,000
Bonnie Nelson [Member] | 2014-15 [Member]
Annual Salaries	275,000
Bonnie Nelson [Member] | 2015-2016 [Member]
Annual Salaries	325,000
Bonnie Nelson [Member] | 2016-2017 [Member]
Annual Salaries	$375,000