Virtual Interactive Technologies (VRVR) 10-K 26 Jul 16 2014 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Nov. 30, 2014	May 31, 2014
Document and Entity Information:
Entity Registrant Name	MASCOTA RESOURCES CORP.
Document Type	10-K
Document Period End Date	Nov. 30, 2014
Trading Symbol	masr
Amendment Flag	false
Entity Central Index Key	1,536,089
Current Fiscal Year End Date	--11-30
Entity Common Stock, Shares Outstanding		3,100,000
Entity Public Float		$ 31,000
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS (Re

CONSOLIDATED BALANCE SHEETS (Restated, Unaudited for 2013) - USD ($)	Nov. 30, 2014	Nov. 30, 2013
Current Assets
Cash		$ 1,504
Prepaid Expenses		1,178
Total Current Assets		2,682
Total Assets		2,682
Current Liabilities
Accounts Payable	$ 15,123	6,900
Accrued Interest, Related Parties	604	1,975
Note Payable, Related Parties	16,436	58,500
Total Current Liabilities	32,163	67,375
Total Liabilities	32,163	67,375
STOCKHOLDERS' DEFICIT
Common Stock	3,100	2,000
Additional Paid-in Capital	81,332	13,000
Accumulated Deficit	(116,595)	(79,693)
Total Stockholders' Deficit	$ (32,163)	(64,693)
Total Liabilities and Stockholders' Deficit		$ 2,682

Statement of Financial Position

Statement of Financial Position - Parenthetical - $ / shares	Nov. 30, 2014	Nov. 30, 2013
Statement of Financial Position
Preferred Stock, Par Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	90,000,000	90,000,000
Common Stock, Shares Issued	3,100,000	2,000,000
Common Stock, Shares Outstanding	3,100,000	2,000,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Restated, Unaudited for 2013) - USD ($)	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Operating Expenses
General and administrative	$ 35,491	$ 35,595
Mineral property expense		10,000
Total Expenses	35,491	45,595
Operating loss	(35,491)	(45,595)
Interest expense	1,411	3,358
Net loss	$ (36,902)	$ (48,953)
Basic and Diluted loss per share	$ (0.01)	$ (0.02)
Weighted average number of shares outstanding - basic	3,081,918	2,000,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT For the Years Ended November 30, 2014 and 2013 - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Stockholders' Deficit Total
Balance, Value at Nov. 30, 2012		$ 2,000	$ 13,000	$ (30,740)	$ (15,740)
Balance, Shares at Nov. 30, 2012		2,000,000
Profit (loss)				(48,953)	(48,953)
Balance, Value at Nov. 30, 2013		$ 2,000	13,000	(79,693)	(64,693)
Balance, Shares at Nov. 30, 2013	2,000,000	2,000,000
Shares issued for cash, net of commission, Value		$ 1,100	7,050		8,150
Shares issued for cash, net of commission, Shares		1,100,000
Forgiveness of shareholder's notes and interest			61,282		61,282
Profit (loss)				(36,902)	(36,902)
Balance, Value at Nov. 30, 2014		$ 3,100	$ 81,332	$ (116,595)	$ (32,163)
Balance, Shares at Nov. 30, 2014	3,100,000	3,100,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Restated, Unaudited for 2013) - USD ($)	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Cash Flows from Operating Activities
Net loss	$ (36,902)	$ (48,953)
Change in operating assets and liabilities:
Decrease in prepaid expenses	1,178	822
Increase in accounts payable	8,223	6,400
Increase in accrued interest, related parties	1,411	3,358
Net Cash provided by Operating Activities	(26,090)	(38,373)
Cash Flows from Financing Activities
Shares sold for cash, net of commission	8,150
Notes payable, related parties	16,436	20,000
Net Cash provided by Financing Activities	24,586	20,000
Net Increase (decrease) in cash	(1,504)	(18,373)
Cash at beginning of period	1,504	19,877
Cash at end of period		1,504
Non-Cash Investing and Financing Activities
Forgiveness of related party notes and interest	$ 61,282
Refinancing of note payable to related party		35,000
Refinancing of accrued interest on note payable to related party		$ 3,500

Note 1 Nature of Operations and

Note 1 Nature of Operations and Basis of Presentation	12 Months Ended
	Nov. 30, 2014
Notes
Note 1 Nature of Operations and Basis of Presentation	Note 1 Nature of Operations and Basis of Presentation Mascota Resources Corp. (“the Company,” “we,” “us,” or “our”) was incorporated in the state of Nevada on November 3, 2011. The Company is an exploration stage company and was formed for the purpose of acquiring exploration and development stage mineral properties. On November 9, 2011, the Company incorporated a wholly-owned subsidiary, MRC Exploration LLC (“MRC”), in the State of Nevada for the purpose of mineral exploration. During May 2013, MRC acquired a Uranium mineral claim located in the Athabasca Basin, within the Province of Saskatchewan, Canada (the “Claim”). Subsequently, the required exploration and development expenditures were not made and the ownership interest in the Claim lapsed on May 3, 2015 and as of the date of filing this Form 10K, the Company no longer holds a beneficial interest in the Claim. The Company’s business plan is to proceed with the acquisition and exploration of feasible mineral claims to determine whether there are commercially exploitable reserves of gold, silver and uranium. Our geological consulting firm is well experienced in the mineral exploration business and will provide us with the expected costs of exploration to determine the commercial viability of the prospect. The Company’s prior registered public accounting firm, which issued an unqualified opinion with going concern explanatory paragraph on the Company’s financial statements as of and for the year ended November 30, 2013 previously included in the Company’s 2013 Form 10-K, is currently under sanction by the SEC and thus cannot re-issue their opinion on the 2013 financial statements shown comparatively with the accompanying 2014 financial statements. Rather than having its new registered public accounting firm re-audit prior years, the Company has elected to present its 2013 financial statements as unaudited.

Note 2 Going Concern

Note 2 Going Concern	12 Months Ended
	Nov. 30, 2014
Notes
Note 2 Going Concern	Note 2 Going Concern These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations in the ordinary course of business. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. The Company has yet to achieve profitable operations, has accumulated losses of $116,595 since its inception through November 30, 2014 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing from shareholders or other sources to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company may be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available or on acceptable terms, if at all. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the company cannot continue in existence.

Note 3 Summary of Significant A

Note 3 Summary of Significant Accounting Policies	12 Months Ended
	Nov. 30, 2014
Notes
Note 3 Summary of Significant Accounting Policies	Note 3 Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are stated in US dollars. The Company has adopted a November 30 year end. Consolidated Statements These consolidated financial statements include the accounts of the Company and MRC Exploration LLC., a wholly owned subsidiary incorporated in Nevada, USA on November 9, 2011. All significant inter-company transactions and balances have been eliminated. Foreign Currency Translation The Company’s functional currency is the United States dollar as substantially all of the Company’s operations are in the USA. The Company uses the United States dollar as its reporting currency for consistency with registrants of the Securities and Exchange Commission (“SEC”). Assets and liabilities denominated in a foreign currency are translated at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period, if applicable. Translation adjustments from the use of different exchange rates from period to period are included in the Accumulated Other Comprehensive Income account in Stockholders’ Equity, if applicable. Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses are included in the Statement of Operations and Comprehensive Loss. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimated. Exploration Stage Accounting The Company is an exploration stage company, as defined in pronouncements of the Financial Accounting Standards Board (FASB) and Industry Guide #7 of the Securities and Exchange Commission. Generally accepted accounting principles govern the recognition of revenue by an exploration stage enterprise and the accounting for costs and expenses. As an exploration stage company is also required to make additional disclosures as defined under the then current Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 915, "Development-Stage Entities." Additional disclosures required are that our financial statements be identified as those of an exploration stage company, and that the statements of operations, changes in changes in stockholders' deficit and cash flows disclosed activity since the date of its Inception (November 3, 2011). Effective June 10, 2014, the FASB changed its regulations with respect to development stage entities and these additional disclosures are no longer required for annual reporting periods beginning after December 15, 2015, with the option for entities to early adopt these new provisions. The Company has elected to early adopt these provisions and consequently these additional disclosures are not included in its financial statements. Proven and Probable Reserves The definition of proven and probable reserves is set forth in SEC Industry Guide 7. Proven reserves are reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are computed from the results of detailed sampling; and (c) the sites for inspection, sampling and measurement are spaced so closely and the geologic character is so well defined that size, shape, depth and mineral content of reserves are well-established. Probable reserves are reserves for which quantity and grade and/or quality are computed from information similar to that used for proven reserves, but the sites for inspection, sampling, and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation. In addition, reserves cannot be considered proven and probable until they are supported by a feasibility study, indicating that the reserves have had the requisite geologic, technical and economic work performed and are economically and legally extractable at the time of the reserve determination. As of November 30, 2014, none of our mineralized material met the definition of proven or probable reserves. Cash Equivalents The Company considers all short term investments purchased with an original maturity of three months or less to be cash equivalents. Investments in Mining Rights Mining rights held for development are recorded at the cost of the rights, plus related acquisition costs. These costs will be amortized when extraction begins. Mining rights the Company acquired in 2013 and held briefly but never developed further were expensed upon acquisition (Note 9). Mine Development Costs Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred at a mine site before proven reserves have been established are expensed as mine development costs. At the point proven reserves have been established at a mine site, such costs will be capitalized and will be written off as depletion expense as the minerals are extracted. As of November 30, 2014, none of the Company’s mine concessions met the requirements for qualification as having proven reserves, and no mine development costs had been incurred. Income Taxes We account for income taxes under the liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Current tax benefits are offset by a valuation reserve as they are considered not likely to be realized in the foreseeable future. Recognition of Revenue Revenue will be recognized when persuasive evidence of an arrangement exists, such as when a purchase order or contract is received from a customer, the price is fixed, title to the goods has passed, and there is reasonable assurance of collection. The Company has not yet entered into any contractual arrangement to deliver product or services. Advertising Costs The Company will expense advertising costs when advertisements occur. There has been no spending thus far on advertising. Net Income (Loss) Per Share In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method. Diluted EPS excludes all dilutive potential of shares of common stock if their effect is anti-dilutive. No potentially dilutive debt or equity instruments were issued or outstanding during the year end November 30, 2014 or 2013. New Accounting Pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Note 4 Investment in Mining Rig

Note 4 Investment in Mining Rights	12 Months Ended
	Nov. 30, 2014
Notes
Note 4 Investment in Mining Rights	Note 4 Investment in Mining Rights On May 3, 2013, the Company’s consulting geologist acquired a 100% legal and beneficial ownership interest in a Uranium mineral claim for $10,000, paid by the Company, which he held in trust for the Company pursuant to a Mineral Claim Trust Agreement, dated May 3, 2013. The Mineral Claim was located in the Northeast Athabasca Basin, in the Province of Saskatchewan, Canada. The required exploration and development expenditures to keep the Claim active were not made as required by the Agreement. The ownership interest lapsed on May 3, 2015 and as of the date of filing this Form 10-K, the Company no longer holds a beneficial interest in the Claim. The claim was initially recorded as an asset upon acquisition. The Company has determined that proper recognition was to have recorded an expense, and has restated its November 30, 2013 financial statements accordingly (Note 9).

Note 5 Related Party Transactio

Note 5 Related Party Transactions	12 Months Ended
	Nov. 30, 2014
Notes
Note 5 Related Party Transactions	Note 5 Related Party Transactions On November 28, 2011, the Company President, Maria Ponce, loaned $35,000 to the Company pursuant to a promissory note, which was unsecured, bore interest at 6% per annum, and matured on December 31, 2013. On April 24, 2013, the Company entered into a debt refinancing arrangement with the President such that the original note plus accrued interest of $3,500 as of April 28, 2013, aggregating $38,500, matured on December 31, 2016. This revised note was unsecured and bore interest at 6%. On May 8, 2013, the Company President, Maria Ponce, loaned $5,000 to the Company pursuant to a promissory note, which was unsecured, bore interest at 6% per annum, and matured on December 31, 2016. On June 4, 2013, the Company President, Maria Ponce, loaned $10,000 to the Company pursuant to a promissory note, which was unsecured, bore interest at 6% per annum, and matured on December 31, 2016. On September 19, 2013, the Company President, Maria Ponce, loaned $5,000 to the Company pursuant to a promissory note, which was unsecured, bore interest at 6% per annum, and matured on December 31, 2016. As of November 30, 2013, a total of $58,500 principal and accrued interest of $1,975 was due to Ms. Ponce under these notes. Effective March 10, 2014, our President forgave these loans totaling $58,500 and accrued interest of $2,782. As the gain on forgiveness of repayment of these loans was with a related party, the gain was recognized in additional paid-in capital. Ms. Ponce resigned as the Company’s President on March 17, 2014. In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or officer and directors. The following advances are considered temporary in nature and have not been formalized by a promissory note. The Company’s new President, Dale Rasmussen, loaned the Company the following amounts: Date Amount March 19, 2014 $ 12,935 June 24, 2014 2,375 August 29, 2014 1,102 November 30, 2014 24 Total, November 30, 2014 $ 16,436 The amounts are unsecured, bear 6% interest per annum, and are due on demand. Accrued interest and interest expense totaled $604 as of and for the year ended November 30, 2014. The loans were repaid with the Company’s common and preferred stock, and accrued interest forgiven by Mr. Rasmussen in June 2016 (Note 8).

Note 6 Stockholders' Deficit

Note 6 Stockholders' Deficit	12 Months Ended
	Nov. 30, 2014
Notes
Note 6 Stockholders' Deficit	Note 6 Stockholders’ Deficit Authorized Share Capital The authorized share capital of the Company consists of 90,000,000 shares of common stock with par value of $0.001 and 10,000,000 shares of preferred stock with a par value of $0.001. Preferred Stock No preferred stock had been issued or outstanding since November 3, 2011 (Inception) through November 30, 2014. On June 28, 2016, the Company issued 50,000 shares of its preferred stock to one of its Directors in satisfaction of a loan made to the Company (Note 8). Common Stock On December 6, 2013, the Company issued 1,100,000 common shares at $0.0075 per share for total proceeds of $8,250 pursuant to a private placement. The Company paid commissions of $100 for net proceeds of $8,150. As of November 30, 2014 and 2013, the Company had 3,100,000 and 2,000,000 shares of common stock issued and outstanding, respectively. Additional Paid-In Capital Effective March 10, 2014, our President, forgave the repayment of loans she had made to the Company totaling $58,500 and accrued interest of $2,782. As the gain on forgiveness of repayment of these loans was with a related party, we recognized the gain in additional paid in capital.

Note 7 Income Taxes

Note 7 Income Taxes	12 Months Ended
	Nov. 30, 2014
Notes
Note 7 Income Taxes	Note 7 Income Taxes Deferred income taxes are determined based on the estimated future tax effects of differences between financial statement carrying amounts and the tax bases of existing assets and liabilities. Deferred tax assets are recognized to the extent that realization of those assets is considered to be more likely than not. A valuation allowance is established for deferred taxes when it is more likely than not that all or a portion of the deferred tax assets will not be realized. Provisions are made for the U.S. income tax liability and additional non-U.S. taxes on the undistributed earnings of non-U.S. subsidiaries, except for amounts Mascota Resources has designated to be indefinitely reinvested. The Company records benefits for uncertain tax positions based on an assessment of whether the position is more likely than not to be sustained by the taxing authorities. If this threshold is not met, no tax benefit of the uncertain tax position is recognized. If the threshold is met, the tax benefit that is recognized is the largest amount that is greater than 50% likely of being realized upon ultimate settlement. This analysis presumes the taxing authorities’ full knowledge of the positions taken and all relevant facts, but does not consider the time value of money. The Company also accrues for interest and penalties on its uncertain tax positions and includes such charges in its income tax provision in the Consolidated Statements of Operations. Net deferred tax assets (liabilities) consist of the following components as of November 30, 2014 and 2013: 2014 2013 Deferred tax assets: NOL Carryover $ 17,489 $ 11,954 Valuation allowance (17,489) (11,954) Net deferred tax asset $ - $ - The income tax provision differs from the amount of estimated income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the periods ended November 30, 2014 and 2013 due to the following: 2014 2013 Book Loss (15% statutory rate) $ (5,535) $ (7,300) Change in valuation allowance 5,535 7,300 Tax at effective rate $ - $ - At November 30, 2014, the Company had net operating loss carryforwards of approximately $116,595 that may be offset against future taxable income from the year 2015 through 2034. No tax benefit has been reported in the December 31, 2015 or 2014 financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. There is no provision for state taxes, since the Company’s operations have been limited to administrative expenses and fund-raising in the state of its incorporation (Nevada) which has no income tax. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carryforwards may be limited as to use in future years. The tax years that remain subject to examination by major taxing jurisdictions are those for the years ended November 30, 2014, 2013, and 2012.

Note 8 Subsequent Events

Note 8 Subsequent Events	12 Months Ended
	Nov. 30, 2014
Notes
Note 8 Subsequent Events	Note 8 Subsequent Events On February 17, 2015, the Board of Directors appointed Mark Rodenbeck to serve as an additional Director of the Company. On February 17, 2015, Dale Rasmussen tendered his resignation as the Company’s Secretary effective as of the same date. Mr. Rasmussen’s resignation was not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. The Board accepted Mr. Rasmussen’s resignation and appointed Mr. Rodenbeck to serve as the Company’s Secretary. Mr. Rasmussen continues to be the Company’s Chief Executive and Chief Financial Officer. Mr. Rodenbeck made to the Company the following advances, which are unsecured, bear interest at 6% per annum, and due on demand: Date Amount April 2015 $14,977 September 2015 $19,688 January 2016 $20,150 On June 21, 2016, 2,000,000 shares of common stock owned by Maria Ponce, the Company’s former President, were canceled and returned to treasury. On June 28, 2016, the Company issued 50,000 shares of its common stock and 50,000 shares of its preferred stock to Dale Rasmussen in satisfaction of Rasmussen’s loans made to the Company totaling $16,436. Mr. Rasmussen further agreed to forgive all accrued interest due on those loans. On June 28, 2016, the Company also issued 2,740,750 shares of its common stock to Mark Rodenbeck in satisfaction of Rodenbeck’s loans made to the Company totaling $54,815. Mr. Rodenbeck also agreed to forgive all accrued interest due on those loans.

Note 9 Restatement

Note 9 Restatement	12 Months Ended
	Nov. 30, 2014
Notes
Note 9 Restatement	Note 9 Restatement In May 2013, the Company acquired an interest in a Uranium mineral claim for $10,000 that lapsed in 2015 (Note 4). The claim was initially recorded as an asset upon acquisition. The Company has determined that proper recognition was to have recorded an expense, due to the unlikelihood that the Company would ever recover the acquisition cost, and has restated its November 30, 2013 financial statements (unaudited) accordingly. The effects of the restatement on the November 30, 2013 financial statements previously filed are as follows: Amount as Originally Restatement Restated Filed Adjustment Amount As of November 30, 2013 Mineral Property (Asset) $ 10,000 $ (10,000) $ - Accumulated deficit (69,693) (10,000) (79,693) Year Ended November 30, 2013 Mineral Property (Expense) - 10,000 10,000 General and administrative expenses 35,595 10,000 45,595 Net loss 35,595 10,000 45,595 Net loss per share $ 0.02 $ 0.01 $ 0.02 Weighted Ave Shares 2,000,000 2,000,000

Note 3 Summary of Significant16

Note 3 Summary of Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are stated in US dollars. The Company has adopted a November 30 year end.

Note 3 Summary of Significant17

Note 3 Summary of Significant Accounting Policies: Consolidated Statements (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Consolidated Statements	Consolidated Statements These consolidated financial statements include the accounts of the Company and MRC Exploration LLC., a wholly owned subsidiary incorporated in Nevada, USA on November 9, 2011. All significant inter-company transactions and balances have been eliminated.

Note 3 Summary of Significant18

Note 3 Summary of Significant Accounting Policies: Foreign Currency Translation (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Foreign Currency Translation	Foreign Currency Translation The Company’s functional currency is the United States dollar as substantially all of the Company’s operations are in the USA. The Company uses the United States dollar as its reporting currency for consistency with registrants of the Securities and Exchange Commission (“SEC”). Assets and liabilities denominated in a foreign currency are translated at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period, if applicable. Translation adjustments from the use of different exchange rates from period to period are included in the Accumulated Other Comprehensive Income account in Stockholders’ Equity, if applicable. Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses are included in the Statement of Operations and Comprehensive Loss.

Note 3 Summary of Significant19

Note 3 Summary of Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimated.

Note 3 Summary of Significant20

Note 3 Summary of Significant Accounting Policies: Exploration Stage Accounting (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Exploration Stage Accounting	Exploration Stage Accounting The Company is an exploration stage company, as defined in pronouncements of the Financial Accounting Standards Board (FASB) and Industry Guide #7 of the Securities and Exchange Commission. Generally accepted accounting principles govern the recognition of revenue by an exploration stage enterprise and the accounting for costs and expenses. As an exploration stage company is also required to make additional disclosures as defined under the then current Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 915, "Development-Stage Entities." Additional disclosures required are that our financial statements be identified as those of an exploration stage company, and that the statements of operations, changes in changes in stockholders' deficit and cash flows disclosed activity since the date of its Inception (November 3, 2011). Effective June 10, 2014, the FASB changed its regulations with respect to development stage entities and these additional disclosures are no longer required for annual reporting periods beginning after December 15, 2015, with the option for entities to early adopt these new provisions. The Company has elected to early adopt these provisions and consequently these additional disclosures are not included in its financial statements.

Note 3 Summary of Significant21

Note 3 Summary of Significant Accounting Policies: Proven and Probable Reserves (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Proven and Probable Reserves	Proven and Probable Reserves The definition of proven and probable reserves is set forth in SEC Industry Guide 7. Proven reserves are reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are computed from the results of detailed sampling; and (c) the sites for inspection, sampling and measurement are spaced so closely and the geologic character is so well defined that size, shape, depth and mineral content of reserves are well-established. Probable reserves are reserves for which quantity and grade and/or quality are computed from information similar to that used for proven reserves, but the sites for inspection, sampling, and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation. In addition, reserves cannot be considered proven and probable until they are supported by a feasibility study, indicating that the reserves have had the requisite geologic, technical and economic work performed and are economically and legally extractable at the time of the reserve determination. As of November 30, 2014, none of our mineralized material met the definition of proven or probable reserves.

Note 3 Summary of Significant22

Note 3 Summary of Significant Accounting Policies: Cash Equivalents (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Cash Equivalents	Cash Equivalents The Company considers all short term investments purchased with an original maturity of three months or less to be cash equivalents.

Note 3 Summary of Significant23

Note 3 Summary of Significant Accounting Policies: Investments in Mining Rights (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Investments in Mining Rights	Investments in Mining Rights Mining rights held for development are recorded at the cost of the rights, plus related acquisition costs. These costs will be amortized when extraction begins. Mining rights the Company acquired in 2013 and held briefly but never developed further were expensed upon acquisition (Note 9).

Note 3 Summary of Significant24

Note 3 Summary of Significant Accounting Policies: Mine Development Costs (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Mine Development Costs	Mine Development Costs Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred at a mine site before proven reserves have been established are expensed as mine development costs. At the point proven reserves have been established at a mine site, such costs will be capitalized and will be written off as depletion expense as the minerals are extracted. As of November 30, 2014, none of the Company’s mine concessions met the requirements for qualification as having proven reserves, and no mine development costs had been incurred.

Note 3 Summary of Significant25

Note 3 Summary of Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Income Taxes	Income Taxes We account for income taxes under the liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Current tax benefits are offset by a valuation reserve as they are considered not likely to be realized in the foreseeable future.

Note 3 Summary of Significant26

Note 3 Summary of Significant Accounting Policies: Recognition of Revenue (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Recognition of Revenue	Recognition of Revenue Revenue will be recognized when persuasive evidence of an arrangement exists, such as when a purchase order or contract is received from a customer, the price is fixed, title to the goods has passed, and there is reasonable assurance of collection. The Company has not yet entered into any contractual arrangement to deliver product or services.

Note 3 Summary of Significant27

Note 3 Summary of Significant Accounting Policies: Advertising Costs (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Advertising Costs	Advertising Costs The Company will expense advertising costs when advertisements occur. There has been no spending thus far on advertising.

Note 3 Summary of Significant28

Note 3 Summary of Significant Accounting Policies: Net Income (loss) Per Share (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Net Income (loss) Per Share	Net Income (Loss) Per Share In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method. Diluted EPS excludes all dilutive potential of shares of common stock if their effect is anti-dilutive. No potentially dilutive debt or equity instruments were issued or outstanding during the year end November 30, 2014 or 2013.

Note 3 Summary of Significant29

Note 3 Summary of Significant Accounting Policies: New Accounting Pronouncements (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
New Accounting Pronouncements	New Accounting Pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

Note 6 Stockholders' Deficit_ P

Note 6 Stockholders' Deficit: Preferred Stock (Policies)	12 Months Ended
	Nov. 30, 2014
Policies
Preferred Stock	Preferred Stock No preferred stock had been issued or outstanding since November 3, 2011 (Inception) through November 30, 2014. On June 28, 2016, the Company issued 50,000 shares of its preferred stock to one of its Directors in satisfaction of a loan made to the Company (Note 8).

Note 5 Related Party Transact31

Note 5 Related Party Transactions: Schedule of Related Party Transactions (Tables)	12 Months Ended
	Nov. 30, 2014
Tables/Schedules
Schedule of Related Party Transactions	Date Amount March 19, 2014 $ 12,935 June 24, 2014 2,375 August 29, 2014 1,102 November 30, 2014 24 Total, November 30, 2014 $ 16,436

Note 7 Income Taxes_ Schedule o

Note 7 Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Nov. 30, 2014
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	2014 2013 Deferred tax assets: NOL Carryover $ 17,489 $ 11,954 Valuation allowance (17,489) (11,954) Net deferred tax asset $ - $ -

Note 7 Income Taxes_ Schedule33

Note 7 Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Nov. 30, 2014
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	2014 2013 Book Loss (15% statutory rate) $ (5,535) $ (7,300) Change in valuation allowance 5,535 7,300 Tax at effective rate $ - $ -

Note 8 Subsequent Events_ Sched

Note 8 Subsequent Events: Schedule of Debt (Tables)	12 Months Ended
	Nov. 30, 2014
Tables/Schedules
Schedule of Debt	Date Amount April 2015 $14,977 September 2015 $19,688 January 2016 $20,150

Note 9 Restatement_ Schedule of

Note 9 Restatement: Schedule of Error Corrections and Prior Period Adjustments (Tables)	12 Months Ended
	Nov. 30, 2014
Tables/Schedules
Schedule of Error Corrections and Prior Period Adjustments	Amount as Originally Restatement Restated Filed Adjustment Amount As of November 30, 2013 Mineral Property (Asset) $ 10,000 $ (10,000) $ - Accumulated deficit (69,693) (10,000) (79,693) Year Ended November 30, 2013 Mineral Property (Expense) - 10,000 10,000 General and administrative expenses 35,595 10,000 45,595 Net loss 35,595 10,000 45,595 Net loss per share $ 0.02 $ 0.01 $ 0.02 Weighted Ave Shares 2,000,000 2,000,000

Note 2 Going Concern (Details)

Note 2 Going Concern (Details) - USD ($)	Nov. 30, 2014	Nov. 30, 2013
Details
Accumulated Deficit	$ 116,595	$ 79,693

Note 5 Related Party Transact37

Note 5 Related Party Transactions (Details) - USD ($)	Nov. 30, 2014	Nov. 30, 2013
Details
Accrued Interest, Related Parties	$ 604	$ 1,975

Note 6 Stockholders' Deficit (D

Note 6 Stockholders' Deficit (Details) - $ / shares	Nov. 30, 2014	Nov. 30, 2013
Details
Common Stock, Shares Authorized	90,000,000	90,000,000
Common Stock, Par Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Outstanding	3,100,000	2,000,000

Note 7 Income Taxes (Details)

Note 7 Income Taxes (Details)	Nov. 30, 2014USD ($)
Details
Operating Loss Carryforwards	$ 116,595