Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
May 31, 2021 | Oct. 12, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | PureBase Corp | |
Entity Central Index Key | 0001575858 | |
Document Type | 10-Q | |
Document Period End Date | May 31, 2021 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --11-30 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business Flag | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 215,380,751 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | May 31, 2021 | Nov. 30, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 12,890 | $ 7,450 |
Accounts receivable, net of allowances for uncollectables of $18,277 | 32,500 | 2,500 |
Prepaid expenses and other assets | 1,014 | 5,390 |
Total Current Assets | 46,404 | 15,340 |
Property and equipment, net | 620,000 | 620,000 |
Right of use asset | 24,169 | |
Total Assets | 690,573 | 635,340 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 184,249 | 164,040 |
Settlement liability | 400,000 | 400,000 |
Lease liability | 17,161 | |
Note payable to officer | 89,716 | 127,816 |
Due to affiliated entities | 281,000 | 1,091,158 |
Convertible notes payable - affiliated entity, net of discount of $27,224 | 150,776 | |
Notes payable, related party | 25,000 | 25,000 |
Total Current Liabilities | 1,147,902 | 1,808,014 |
Lease liability, net of current portion | 7,408 | |
Convertible notes payable - affiliated entity, net of current portion, and net of discount of $- and $49,000, respectively | 1,401,769 | 129,000 |
Total Liabilities | 2,557,079 | 1,937,014 |
Commitments and Contingencies (Note 8) | ||
Stockholders' Deficit: | ||
Preferred stock, $.001 par value; 10,000,000 shares authorized; 0 and 0 shares issued and outstanding, respectively | ||
Common stock, $.001 par value; 520,000,000 shares authorized; 215,380,741 shares issued and outstanding, at May 31, 2021 and November 30, 2020, respectively | 144,977 | 144,547 |
Additional paid in capital | 11,386,887 | 11,307,806 |
Accumulated deficit | (13,398,370) | (12,754,027) |
Total Stockholders' Deficit | (1,866,506) | (1,301,674) |
Total Liabilities and Stockholders' Deficit | $ 690,573 | $ 635,340 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) | May 31, 2021 | Nov. 30, 2020 |
Statement of Financial Position [Abstract] | ||
Allowances for uncollectables | $ 18,277 | $ 18,277 |
Debt discount current | 27,224 | 27,224 |
Debt discount non current | $ 49,000 | |
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 | 520,000,000 | 520,000,000 |
Common Stock, shares issued | 215,380,741 | 215,380,741 |
Common Stock, shares outstanding | 215,380,741 | 215,380,741 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | |
Income Statement [Abstract] | ||||
Revenue, net | $ 30,000 | $ 1,619 | $ 30,000 | $ 6,129 |
Operating Expenses: | ||||
Selling, general and administrative | 412,861 | 193,456 | 633,787 | 355,434 |
Product fulfillment | 15,594 | 3,435 | 17,708 | 5,194 |
Total Operating Expenses | 428,455 | 196,891 | 651,495 | 360,628 |
Loss From Operations | (398,455) | (195,272) | (621,495) | (354,499) |
Other Income (Expense): | ||||
Other income | 23,200 | 23,200 | ||
Interest expense, net | (31,088) | 3,226 | (46,048) | 6,041 |
Total Other Income (Expense) | (7,888) | 3,226 | (22,848) | 6,041 |
Net Loss | $ (406,343) | $ (192,046) | $ (644,343) | $ (348,458) |
Loss per Common Share - Basic and Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted Average Shares Outstanding - Basic and Diluted | 214,981,071 | 208,650,741 | 214,965,990 | 208,650,741 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Beginning balance at Nov. 30, 2019 | $ 138,247 | $ 10,364,990 | $ (11,248,870) | $ (745,633) | |
Beginning balance, shares at Nov. 30, 2019 | 208,650,741 | ||||
Forgiveness of related party liabilities | 150,257 | 150,257 | |||
Beneficial conversion feature on convertible debt | 88,250 | 88,250 | |||
Net loss | (156,412) | (156,412) | |||
Ending balance at Feb. 29, 2020 | $ 138,247 | 10,603,497 | (11,405,282) | (663,538) | |
Ending balance, shares at Feb. 29, 2020 | 208,650,741 | ||||
Beginning balance at Nov. 30, 2019 | $ 138,247 | 10,364,990 | (11,248,870) | (745,633) | |
Beginning balance, shares at Nov. 30, 2019 | 208,650,741 | ||||
Net loss | (348,458) | ||||
Ending balance at May. 31, 2020 | $ 138,247 | 10,633,832 | (11,597,328) | (825,249) | |
Ending balance, shares at May. 31, 2020 | 208,650,741 | ||||
Beginning balance at Feb. 29, 2020 | $ 138,247 | 10,603,497 | (11,405,282) | (663,538) | |
Beginning balance, shares at Feb. 29, 2020 | 208,650,741 | ||||
Stock based compensation - options | 30,335 | 30,335 | |||
Net loss | (192,046) | (192,046) | |||
Ending balance at May. 31, 2020 | $ 138,247 | 10,633,832 | (11,597,328) | (825,249) | |
Ending balance, shares at May. 31, 2020 | 208,650,741 | ||||
Beginning balance at Nov. 30, 2020 | $ 144,547 | 11,307,806 | (12,754,027) | (1,301,674) | |
Beginning balance, shares at Nov. 30, 2020 | 214,950,741 | ||||
Stock based compensation - options | 10,688 | 10,688 | |||
Net loss | (238,000) | (238,000) | |||
Ending balance at Feb. 28, 2021 | $ 144,547 | 11,318,494 | (12,992,027) | (1,528,986) | |
Ending balance, shares at Feb. 28, 2021 | 214,950,741 | ||||
Beginning balance at Nov. 30, 2020 | $ 144,547 | 11,307,806 | (12,754,027) | (1,301,674) | |
Beginning balance, shares at Nov. 30, 2020 | 214,950,741 | ||||
Net loss | (644,343) | ||||
Ending balance at May. 31, 2021 | $ 144,977 | 11,386,887 | (13,367,780) | (1,866,506) | |
Ending balance, shares at May. 31, 2021 | 215,380,741 | ||||
Beginning balance at Feb. 28, 2021 | $ 144,547 | 11,318,494 | (12,992,027) | (1,528,986) | |
Beginning balance, shares at Feb. 28, 2021 | 214,950,741 | ||||
Stock based compensation - shares | $ 430 | 24,245 | 24,675 | ||
Stock based compensation - shares, shares | 430,000 | ||||
Stock based compensation - options | 44,148 | 44,148 | |||
Net loss | (375,753) | (406,343) | |||
Ending balance at May. 31, 2021 | $ 144,977 | $ 11,386,887 | $ (13,367,780) | $ (1,866,506) | |
Ending balance, shares at May. 31, 2021 | 215,380,741 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
May 31, 2021 | May 31, 2020 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (644,343) | $ (348,458) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 772 | |
Stock based compensation | 79,511 | 30,335 |
Amortization of debt discount | 21,775 | 17,354 |
Settlement liability | (50,000) | |
Non-cash effect of right of use asset | 401 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (30,000) | 12,700 |
Prepaid expenses and other current assets | 4,376 | (33,332) |
Accounts payable and accrued expenses | 42,359 | (25,582) |
Net Cash Used In Operating Activities | (525,921) | (396,211) |
Cash Flows From Financing Activities: | ||
Bank overdraft | 53,795 | |
Advances from related parties | 569,461 | 160,796 |
Proceeds from convertible notes payable - affiliated entities | 178,000 | |
Payments on notes due to officers | (38,100) | (4,780) |
Net Cash Provided By Financing Activities | 531,361 | 387,811 |
Net Increase (Decrease) In Cash | 5,440 | (8,400) |
Cash - Beginning of Period | 7,450 | 8,400 |
Cash - End of Period | 12,890 | |
Supplemental Cash Flow Information: | ||
Interest paid | 4,383 | |
Income taxes paid | ||
Noncash investing and financing activities: | ||
Forgiveness of accounts payable due to USMC | 150,257 | |
Vendors paid for on behalf of the Company by USMC | 22,150 | |
Due to affiliates exchanged for convertible debt | $ 1,401,769 |
Organization and Business Opera
Organization and Business Operations | 6 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
Organization and Business Operations | Note 1 – organization and business operations Corporate History The Company was incorporated in the State of Nevada on March 2, 2010, under the name Port of Call Online, Inc. to create a web-based service that would offer boaters an easy, convenient, fun, easy to use, online resource to help them plan and organize their boating trips. Pursuant to a corporate reorganization consummated on December 23, 2014, the Company changed its business focus to the identification, acquisition, exploration, development and full-scale exploitation of industrial and natural mineral properties in the United States for the development of products for the construction and agriculture markets. In line with this business focus, the Company changed its name to PureBase Corporation in January 2015. The Company is headquartered in Ione, California. Business Overview The Company, through its two divisions, Purebase Ag and Purebase SCM, is engaged in the agricultural and construction-materials sectors. In the agricultural sector, the Company’s business is to develop specialized fertilizers, sun protectants, soil amendments, and bio-stimulants for organic and non-organic sustainable agriculture. In the construction sector, the Company’s focus in 2020 has been to develop and test a kaolin-based product that will help create a lower CO2-emitting concrete through the use of high-quality SCM’s. The Company is developing a SCM that it believes can potentially replace up to 40% of cement, the most polluting part of concrete. As government agencies continue to enact stricter requirements for less-polluting forms of concrete, the Company believes there are significant opportunities for high-quality SCM poducts in the construction-materials sector. In the agricultural sector, the Company has developed and will seek to develop additional products derived from mineralized materials of leonardite, kaolin clay, laterite, and other natural minerals. These mineral and soil amendments are used to protect crops, plants and fruits from the sun and winter damage, to provide nutrients to plants, and to improve dormancy and soil ecology to help farmers increase the yields of their harvests. The Company is building a brand family under the parent trade name “Purebase,” consisting of its Purebase Shade Advantage WP product, a kaolin-clay based sun protectant for crops. It is also involved in the early testing of soil amendment products based on humic and fulvic acids derived from leonardite. Other agricultural products are in the development stage. The Company utilizes the services of US Mine Corporation (“USMC”), a Nevada corporation, and a significant shareholder of the Company for the development and contract mining of industrial mineral and metal projects throughout North America, exploration drilling, preparation of feasibility studies, mine modeling, on-site construction, production, site reclamation and for product fulfillment. Exploration services include securing necessary permits, environmental compliance, and reclamation plans. In addition, a substantial portion of the minerals to be utilized by the Company is obtained from properties owned or controlled by USMC. A. Scott Dockter and John Bremer are officers, directors, and owners. |
Going Concern and Liquidity
Going Concern and Liquidity | 6 Months Ended |
May 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern and Liquidity | NOTE 2 – GOING CONCERN AND LIQUIDITY The accompanying unaudited condensed consolidated financial statements have been prepared on the basis that the Company will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. At May 31, 2021, the Company had a significant accumulated deficit of approximately $13,398,000 and working capital deficit of approximately $1,101,000. For the six months ended May 31, 2021, the Company had a loss from operations of approximately $621,000 and negative cash flows from operations of approximately $526,000. The Company’s operating activities consume the majority of its cash resources. The Company anticipates that it will continue to incur operating losses as it executes its development plans for 2021, as well as other potential strategic and business development initiatives. In addition, the Company has had and expects to have negative cash flows from operations, at least into the near future. The Company has previously funded, and plans to continue funding, these losses primarily with additional infusions of cash from advances from an affiliate, the sale of equity, and convertible notes. The accompanying consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. The Company’s plan, through the continued promotion of its services to existing and potential customers, is to generate sufficient revenues to cover its anticipated expenses. The Company is currently exploring several options to meet its short-term cash requirements, including issuances of equity securities or equity-linked securities from third parties. Although no assurances can be given as to the Company’s ability to deliver on its revenue plans or that unforeseen expenses may arise, management currently believes that the revenue to be generated from operations together with equity and debt financing will provide the necessary funding for the Company to continue as a going concern. However, there currently are no arrangements or agreements for such financing and management cannot guarantee any potential debt or equity financing will be available, or if available, on favorable terms. As such, these matters raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issue date of these this report. If adequate funds are not available on acceptable terms, or at all, the Company will need to curtail operations, or cease operations completely. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) including Form 10-Q and Regulation S-X. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments, unless otherwise indicated) which are, in the opinion of management, necessary to fairly state the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted pursuant to such rules and regulations. These financial statements and the information included under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” should be read in conjunction with the audited financial statements and explanatory notes for the year ended November 30, 2020 in our Form 10-K filed on March 16, 2021 with the SEC. The results of the three and six months ended May 31, 2021 (unaudited) are not necessarily indicative of the results to be expected for the full year ending November 30, 2021. Principles of Consolidation These unaudited condensed consolidated financial statements include the accounts of the Company and wholly-owned subsidiaries PureBase AG and USAM. Intercompany accounts and transactions have been eliminated upon consolidation. Use of Estimates The preparation of 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 equity-based transactions at the date of the financial statements and the revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. The Company believes the following critical accounting policies affect its more significant judgments and estimates used in the preparation of the unaudited condensed consolidated financial statements. Significant estimates include the allowance for doubtful accounts, useful lives of property and equipment, deferred tax asset and valuation allowance, assumptions used in Black-Scholes-Merton, or BSM, valuation methods, such as expected volatility, risk-free interest rate, and expected dividend rate. Revenue The Company derives revenues from the sale of its agricultural products. The Company’s contracted transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company’s contracts have a single performance obligation which are not separately identifiable from other promises in the contracts and is, therefore, not distinct. The Company’s performance obligation is satisfied upon the transfer of risk of loss to the customer. Practical Expedients As part of ASC Topic 606, the Company has adopted several practical expedients including: ● Significant Financing Component – the Company does not adjust the promised amount of consideration for the effects of a significant financing component since the Company expects, at contract inception, that the period between when the Company transfers a promised good or service to the customer and when the customer pays for that good or service will be one year or less. ● Unsatisfied Performance Obligations – all performance obligations related to contracts with a duration for less than one year, the Company has elected to apply the optional exemption provided in ASC Topic 60 and therefore, is not required to disclose the aggregate amount of transaction price allocated to performance obligations that are unsatisfied or partially satisfied at the end of the reporting period. ● Shipping and Handling Activities – the Company elected to account for shipping and handling activities as a fulfillment cost rather than as a separate performance obligation. ● Right to Invoice – the Company has a right to consideration from a customer in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date the Company may recognize revenue in the amount to which the entity has a right to invoice. Disaggregated Revenue Revenue consists of the following by product offering for the six months ended May 31, 2021: Humate INU Advantage SHADE ADVANTAGE (WP) SulFe Hume Si ADVANTAGE Total $ - $ 30,000 $ - $ 30,000 Revenue consists of the following by product offering for the six months ended May 31, 2020: Humate INU Advantage SHADE ADVANTAGE (WP) SulFe Hume Si ADVANTAGE Total $ 6,129 $ - $ - $ 6,129 Cash The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. There are no cash equivalents as of May 31, 2021 and November 30, 2020. Account Receivable The Company periodically assesses its accounts and other receivables for collectability on a specific identification basis. If collectability of an account becomes unlikely, an allowance is recorded for that doubtful account. At May 31, 2021 and November 30, 2020, the Company has determined that an allowance of $18,277 for doubtful accounts was necessary. Property and Equipment Property and equipment are recorded at cost. Depreciation is computed using straight-line method over the estimated useful lives of the related assets, generally three to five years. Expenditures that enhance the useful lives of the assets are capitalized and depreciated. Equipment 3-5 years Autos and trucks 5 years Maintenance and repairs are charged to expense as incurred. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation will be removed from the accounts and the resulting gain or loss, if any, will be reflected in operations. The Company currently has $620,000 in property and equipment that it acquired on May 1, 2020. As of May 31, 2021, the Company has not put the acquired property and equipment to use. As such, the Company has not recorded depreciation. Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of these assets is determined by comparing the forecasted undiscounted net cash flows of the operation to which the assets relate to the carrying amount. If the operation is determined to be unable to recover the carrying amount of its assets, then these assets are written down first, followed by other long-lived assets of the operation to fair value. Fair value is determined based on discounted cash flows or appraised values, depending on the nature of the assets. No impairment losses were recorded during the three and six months ended May 31, 2021 and 2020. Shipping and Handling The Company incurs shipping and handling costs which are charged back to the customer. There were no shipping and handling costs incurred during the three and six months ended May 31, 2021 and 2020. Advertising and Marketing Costs The Company expenses advertising and marketing costs as they are incurred. Advertising and marketing expenses were $42,000 and $2,052 for the six months ended May 31, 2021 and 2020, respectively, and $26,000 and $490 for the three months ended May 31, 2021 and 2020, respectively, and are recorded in selling, general and administrative expenses on the statement of operations. Fair Value Measurements As defined in ASC 820, “Fair Value Measurements and Disclosures,” fair value is 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 (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). This fair value measurement framework applies at both initial and subsequent measurement. Level 1: Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. Level 2: Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars. Level 3: Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Fair Value of Financial Instruments The carrying value of cash, accounts receivable, accounts payable and accrued expenses approximate their fair values based on the short-term maturity of these instruments. The carrying amount of notes approximates the estimated fair value for these financial instruments as management believes that such notes constitute substantially all of the Company’s debt and interest payable on the notes approximates the Company’s incremental borrowing rate. Net Loss Per Common Share Net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding during the year. All outstanding options are considered potential common stock. The dilutive effect, if any, of stock options are calculated using the treasury stock method. All outstanding convertible notes are considered common stock at the beginning of the period or at the time of issuance, if later, pursuant to the if-converted method. Since the effect of common stock equivalents is anti-dilutive with respect to losses, the options have been excluded from the Company’s computation of net loss per common share for the three and six months May 31, 2021 and 2020. The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company’s net loss position even though the exercise price could be less than the average market price of the common shares: Six Months Ended May 31, 2021 May 31, 2020 Convertible Notes 129,117,358 1,112,500 Stock Options 1,595,000 550,000 Total 130,712,358 1,662,500 Three Months Ended May 31, 2021 May 31, 2020 Convertible Notes 129,117,358 1,112,500 Stock Options 1,595,000 550,000 Total 130,712,358 1,662,500 Stock-Based Compensation The Company applies the provisions of ASC 718, Compensation—Stock Compensation (“ASC 718”), which requires the measurement and recognition of compensation expense for all stock-based awards made to employees, including employee stock options, in the statements of operations. For stock options issued to employees and members of the Company’s Board of Directors (the “Board”) for their services, the Company estimates the grant date fair value of each option using the Black-Scholes option pricing model. The use of the Black-Scholes option pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the Common Stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the Common Stock. For awards subject to service-based vesting conditions, including those with a graded vesting schedule, the Company recognizes stock-based compensation expense equal to the grant date fair value of stock options on a straight-line basis over the requisite service period, which is generally the vesting term. Forfeitures are recorded as they are incurred as opposed to being estimated at the time of grant and revised. Pursuant to ASU 2018-07 Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, the Company accounts for stock options issued to non-employees for their services in accordance ASC 718. The Company uses valuation methods and assumptions to value the stock options that are in line with the process for valuing employee stock options noted above. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company utilizes ASC 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. The Company accounts for income taxes using the asset and liability method to compute the differences between the tax basis of assets and liabilities and the related financial amounts, using currently enacted tax rates. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized. For uncertain tax positions that meet a “more likely than not” threshold, the Company recognizes the benefit of uncertain tax positions in the consolidated financial statements. The Company’s practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense in the consolidated statements of operations. Recent Accounting Pronouncements All other newly issued but not yet effective accounting pronouncements have been deemed to be not applicable or immaterial to the Company. |
Mining Rights
Mining Rights | 6 Months Ended |
May 31, 2021 | |
Extractive Industries [Abstract] | |
Mining Rights | NOTE 4 – MINING RIGHTS Federal Preference Rights Lease in Esmeralda County NV This Preference Rights Lease is granted by the Bureau of Land Management (“BLM”) covering approximately 2,500 acres of land located in the Mount Diablo Meridian area of Nevada. Contained in the leased property is the Chimney 1 Potassium/Sulfur Deposit which consists of 15.5 acres of land fully permitted for mining operation which is situated within the 2,500 acres held by the Company. All rights and obligations under the Preference Rights lease have been assigned to the Company by USMC. These rights were presented at their cost of $200,000. At November 30, 2020, the Company fully impaired the asset. This lease requires a payment of $7,503 per year to the BLM. Snow White Mine located in San Bernardino County, CA – Deposit On November 28, 2014 US Mining and Minerals Corporation entered into a Purchase Agreement in which it agreed to sell its fee simple property interest and certain mining claims to USMC. In contemplation of the Plan and Agreement of Reorganization, on December 1, 2014, USMC, a related party, assigned its rights and obligations under the Purchase Agreement to the Company pursuant to an Assignment of Purchase Agreement. As a result of the Assignment, the Company assumed the purchaser position under the Purchase Agreement. The Purchase Agreement involves the sale of approximately 280 acres of mining property containing 5 placer mining claims known as the Snow White Mine located near Barstow, California in San Bernardino County. The property is covered by a Conditional Use Permit allowing the mining of the property and a Plan of Operation and Reclamation Plan has been approved by San Bernardino County and the BLM. An initial deposit of $50,000 was paid to escrow, and the Purchase Agreement required the payment of an additional $600,000 at the end of the escrow period. There was a delay in the original seller, Joseph Richard Matthewson, receiving a clear title to the property and a fully permitted project, both of which were conditions to closing. In light of the foregoing, and the payment of an additional $25,000, the parties agreed to extend the closing. Due to delays in the Company securing the necessary funding to close the purchase of the Snow White Mine property, John Bremer, a shareholder and a director of the Company, paid $575,000 to acquire the property on or about October 15, 2015. Mr. Bremer will transfer title to the Company when the Company pays Mr. Bremer $575,000 plus expenses, however, the Company is under no obligation to do so. The mining claims require a minimum royalty payment of $3,500 per year to be made by the Company. During the year ended November 30, 2017, USMC, agreed to offset the $75,000 deposit against money owed to USMC. As a result, the purchase price is $650,000 plus expenses. Mr. Bremer has not restricted the Company from continuing its exploration on or access to the Snow White mine property. On September 5, 2019, the Board approved the discontinuance of all mining and related activities at the Snow White project. The Company has no further obligation related to this project. On April 1, 2020, the Company entered into a purchase and sale agreement with the Bremer Family 1995 Living Trust, a related party through 19% beneficial ownership of the Company, pursuant to which the Company will purchase the Snow White Mine for $836,000 (the “Purchase Price”). The Purchase Price plus 5% interest shall be payable in full in cash at the closing which can occur at any time before April 1, 2022. As of May 31, 2021, the Company has yet to close on the purchase. |
Notes Payable
Notes Payable | 6 Months Ended |
May 31, 2021 | |
Debt Disclosure [Abstract] | |
Notes Payable | NOTE 5 – NOTES PAYABLE Bayshore Capital Advisors, LLC On February 26, 2016, the Company issued a promissory note to Bayshore Capital Advisors, LLC, an affiliate through common ownership of a 10% major shareholder of the Company, for $25,000 for working capital at an interest rate of 6% per annum. The note was payable August 26, 2016, or when the Company closes a bridge financing, whichever occurs first. The Company is in default on this note at May 31, 2021. The balance on the note was $25,000 as of May 31, 2021 and November 30, 2020. See (Note 10). Total interest expense on the note was $748 and $752 for the six months ended May 31, 2021 and 2020, respectively. Total interest expense on the note was $370 for the three months ended May 31, 2021 and 2020. A. Scott Dockter – President and Chief Executive Officer On August 31, 2017, the Company issued a note in the amount of $197,096 to A. Scott Dockter, President, CEO and a director of the Company, to consolidate the total amounts due to Mr. Dockter. The note to Mr. Dockter bears interest at 6% and is due upon demand. During the six months ended May 31, 2021, the Company repaid $38,100 towards the outstanding balance of the note. The balance on the note was $89,716 and $127,816 as of May 31, 2021 and November 30, 2020, respectively (See Note 11). Total interest expense on the note was $3,368 and $4,834 for the six months ended May 31, 2021 and 2020, respectively. Total interest expense on the note was $1,500 and $2,916 for the three months ended May 31, 2021 and 2020, respectively. Convertible Promissory Notes – USMC December 1, 2019 On December 1, 2019, in connection with the September 26, 2019, securities purchase agreement with USMC, a related party, (See Note 12), the Company issued a two-year convertible promissory note in the amount of $20,000 to USMC, with a maturity date of December 31, 2021 (“Tranche #1”). The note bears interest at 5% per annum which is payable on maturity. Amounts due under the note may be converted into shares of the Company’s common stock, $0.001 par value, at any time at the option of the holder, at a conversion price of $0.16 per share. The issuance of Tranche #1 resulted in a discount from the beneficial conversion feature totaling $20,000. Total straight-line amortization of this discount totaled $2,417 and $4,783 for the three and six months ended May 31, 2021 and 2020, respectively. Total interest expense on Tranche #1 was approximately $250 and $500 for the three and six months ended May 31, 2021 and 2020, respectively. January 1, 2020 On January 1, 2020, in connection with the September 26, 2019, securities purchase agreement with USMC, a related party, (See Note 11), the Company issued a two-year convertible promissory note in the amount of $86,000 to USMC, with a maturity date of January 1, 2022 (“Tranche #2”). The note bears interest at 5% per annum which is payable on maturity. Amounts due under the note may be converted into shares of the Company’s common stock, $0.001 par value, at any time at the option of the Holder, at a conversion price of $0.16 per share. The issuance of Tranche #2 resulted in a discount from the beneficial conversion feature totaling $32,250. Total straight-line amortization of this discount totaled $8,029 and $6,662 for the six months ended May 31, 2021 and 2020, respectively. Total straight-line amortization of this discount totaled $4,059 for the three months ended May 31, 2021 and 2020. Total interest expense on Tranche #2 was approximately $2,100 and $1,780 for the six months ended May 31, 2021 and 2020, respectively. Total interest expense on Tranche #2 was approximately $1,040 and $1,080 for the three months ended May 31, 2021 and 2020, respectively. February 1, 2020 On February 1, 2020, in connection with the September 26, 2019, securities purchase agreement with USMC, a related party, (See Note 11), the Company issued a two-year convertible promissory note in the amount of $72,000 to USMC, with a maturity date of February 1, 2022 (“Tranche #3”). The note bears interest at 5% per annum which is payable on maturity. Amounts due under the note may be converted into shares of the Company’s common stock, $0.001 par value, at any time at the option of the Holder, at a conversion price of $0.16 per share. The issuance of Tranche #3 resulted in a discount from the beneficial conversion feature totaling $36,000. Total straight-line amortization of this discount totaled $8,963 and $5,910 for the six months ended May 31, 2021 and 2020, respectively. Total straight-line amortization of this discount totaled $4,531 for the three months ended May 31, 2021 and 2020. Total interest expense on Tranche #3 was approximately $1,785 and $1,200 for the six months ended May 31, 2021 and 2020, respectively. Total interest expense on Tranche #3 was approximately $900 for the three months ended May 31, 2021 and 2020. December 1, 2020 On December 1, 2020, in connection with the September 26, 2019 securities purchase agreement with USMC, a related party, (See Note 11), the Company issued a two-year convertible promissory note in the amount of $822,000 to USMC, with a maturity date of November 25, 2022 (“Tranche 4”). The note bears interest at 5% per annum which is payable on maturity. Amounts due under the note may be converted into shares of the Company’s common stock at any time at the option of the noteholder, at a conversion price of $0.16 per share. Total interest expense on Tranche #4 was approximately $10,100 and $20,300 for the three and six months ended May 31, 2021, respectively. March 17, 2021 On March 17, 2021, in connection with the March 11, 2021 securities purchase agreement with USMC, a related party, (See Note 11), the Company issued a two-year convertible promissory note in the amount of $579,769 to USMC, with a maturity date of March 17, 2023 (“Tranche #5”). The note bears interest at 5% per annum which is payable on maturity. Amounts due under the note may be converted into shares of the Company’s common stock at any time at the option of the noteholder, at a conversion price of $0.088 per share. Total interest on Tranche #5 was approximately $5,800 for the three and six months ended May 31, 2021. Convertible Promissory Note – US Mine, LLC On May 27, 2021, in connection with the Materials Extraction Agreement (the “Extraction Agreement”) with US Mine, LLC, a related party, (See Note 11), the Company issued a ten-year convertible promissory note in the principal amount of $50,000,000 to US Mine, LLC (the “US Mine Note”). The US Mine Note bears interest at 2.5% per annum which is payable upon maturity. Amounts due under the US Mine Note may be converted into shares of the Company’s common stock at the option of the noteholder, at a conversion price of $0.43 per share. The noteholder may convert (i) up to 50% of the outstanding balance on or after such date as the Company is listed for trading on any national securities exchange, (ii) up to an additional 25% of the outstanding balance on or after the six-month anniversary of the initial trading date on such national securities exchange, and (iii) the remaining 25% on or after the twelve-month anniversary of the initial trading date. Total interest on the US Mine Note was approximately $10,300 for the three and six months ended May 31, 2021. |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 6 Months Ended |
May 31, 2021 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Expenses | NOTE 6 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consist of the following amounts: May 31, 2021 November 30, 2020 Accounts payable $ 77,988 $ 84,600 Accrued interest – related party 81,800 39,948 Accrued compensation 21,138 39,492 Accrued expenses 3,323 - Accounts payable and accrued expenses $ 184,249 $ 164,040 |
Leases
Leases | 6 Months Ended |
May 31, 2021 | |
Lessee Disclosure [Abstract] | |
Leases | NOTE 7 – LEASES With the adoption of ASC 842, operating lease agreements are required to be recognized on the balance sheet as Right-of-Use (“ROU”) assets and corresponding lease liabilities. The Company is a party to a two-year lease, with USMC, a related party, for 1,000 square feet of office space located in Ione, California (the “Ione Lease”) with respect to its corporate operations (See Note 11). The Ione Lease expires in November 2022 (subject to automatic extensions of one month) and has an annual base rental during the initial term of $1,500. On December 1, 2020, the Company recognized ROU assets and lease liabilities of $35,543. The Company elected to not recognize ROU assets and lease liabilities arising from short-term office leases (leases with initial terms of twelve months or less, which are deemed immaterial) on its balance sheets. When measuring lease liabilities for leases that were classified as operating leases, the Company discounted lease payments using its estimated incremental borrowing rate at December 1, 2020. The weighted average incremental borrowing rate applied was 5%. The following table presents net lease cost and other supplemental lease information: Six Months Ended May 31, 2021 Lease cost Operating lease cost (cost resulting from lease payments) $ 9,000 Short term lease cost - Sublease income - Net lease cost $ 9,000 Operating lease – operating cash flows (fixed payments) $ 9,000 Operating lease – operating cash flows (liability reduction) $ 8,265 Non-current leases – right of use assets $ 24,169 Current liabilities – operating lease liabilities $ 17,161 Non-current liabilities – operating lease liabilities $ 7,407 Future minimum payments under non-cancelable leases for operating leases for the remaining terms of the leases following the six months ended May 31, 2021: Fiscal Year Operating Leases Remainder of 2021 $ 9,000 2022 16,500 Total future minimum lease payments 25,500 Amount representing interest (932 ) Present value of net future minimum lease payments $ 24,568 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
May 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 8 – COMMITMENTS AND CONTINGENCIES Mineral Properties The Company’s mineral rights require various annual lease payments (See Note 4). Legal Matters On July 8, 2020, former Chief Financial Officer, Al Calvanico (“Calvanico”), filed a demand for arbitration alleging retaliation, wrongful termination, and demand for a minimum amount of $600,000 in alleged stock value, plus interest, recovery of past and future wages, attorneys’ fees, and punitive damages (collectively, the “Calvanico Claims”). The Company denied all Calvanico Claims. The Company believes Calvanico is owed nothing because it takes the position that Calvanico was not terminated, but rather, his employment contract expired on September 21, 2019 in the normal course, and was not renewed by Company and because Calvanico never exercised his stock options. On February 14, 2020, the Company requested in writing that Calvanico exercise his stock options within 30 days. Calvanico failed to do so. To date, Calvanico has not exercised his stock options. This dispute is currently in the midst of the arbitration discovery phase. An arbitration hearing date has been scheduled for January 24, 2022. On January 11, 2019, the Company filed a complaint in the Nevada District Court for Washoe County (Case # CV19-00097) against Agregen International Corp (“Agregen”) and Robert Hurtado alleging the misuse of proprietary and confidential information acquired by Mr. Hurtado while employed by the Company as VP of Agricultural Research and Development. Mr. Hurtado was terminated in March 2018 and since that time the Company alleges that he conspired with Agregen to improperly use proprietary and confidential information to compete with the Company which constitute breaches of the non-compete and confidentiality provisions of his employment agreement with the Company. The Company is seeking $100,000,000 in monetary damages. On March 14, 2019 Agregen and Mr. Hurtado filed an answer to the Company’s Complaint that the allegations were false. An Early Case Conference was held on April 26, 2019 and a pre-trial conference was held on July 10, 2019. On March 13, 2020, the Company filed a First Amended Complaint, adding Todd Gauer and John Gingerich as additional defendants. A default has been taken against Mr. Gingerich. Litigation is actively proceeding against Mr. Hurtado, Mr. Gauer, and Agregen. The June 2021 trial date was postponed due to Covid-related delays but is in the process of being rescheduled. On March 29, 2019, the Company was served with a complaint filed by Superior Soils Supplements LLC (“Superior Soils”) in the Superior Court of the State of California in and for the County of Kings (Case #19C-0124) relating to 64 truckloads of soil amendments delivered to a customer by the Company on behalf of Superior Soils. Superior Soils alleged that the soil amendments were not labeled correctly requiring the entire shipment of product to be returned to the Company. The complaint alleges breach of contract, misrepresentations, fraudulent concealment and unfair competition. The complaint seeks damages of approximately $300,000. The Company filed its answer on May 6, 2019, denying responsibility for the mis-labelling and denying any liability for damages therefrom. The parties are currently in settlement negotiations. The Company believes its potential exposure to be approximately $400,000 and, as such, has accrued this amount on the unaudited condensed consolidated balance sheet at May 31, 2021. On April 16, 2021, LexisNexis, a division of RELX, Inc., filed a Complaint against the Company and its former attorney, Michael Kessler, Esq., in the Superior Court of the State of California, Amador County (Case No. 21-CV-12123). This is a limited jurisdiction lawsuit seeking payment of $18,211. The basis of the Complaint is that Mr. Kessler incurred this debt to LexisNexis, a legal research company. Mr. Kessler is alleged to have failed to pay the annual bill. After the matter was sent to collections, it is the Company’s understanding that Mr. Kessler claimed that he was employed by the Company as its general counsel at the time and that Purebase is therefore responsible for payment. The Company strongly disputes this characterization and maintains that it has no obligation to LexisNexis under the facts or the law. The Company and LexisNexis are engaged in settlement negotiations. The Company believes its potential exposure to be $0 and that the lawsuit will be dismissed. Contractual Matters USMC On November 1, 2013, the Company entered into an agreement with USMC, a related party, under which USMC performs services relating to various technical evaluations and mine development for various mining properties/rights owned by the Company. Terms of services and compensation are determined for each project undertaken by USMC. On October 12, 2018, the Board approved a material supply agreement with USMC, a related party, pursuant to which USMC provides designated natural resources to the Company at predetermined prices (See Note 11). |
Stockholder's Deficit
Stockholder's Deficit | 6 Months Ended |
May 31, 2021 | |
Equity [Abstract] | |
Stockholders' Deficit | NOTE 9 – STOCKHOLDERS’ DEFICIT E quity Transactions During the Period During the six months ended May 31, 2021, the Company issued an aggregate of 350,000 shares of common stock with a fair value range between $0.07 and $0.15 per share to an investment banking firm pursuant to an investment banking agreement for services rendered to the Company. During the six months ended May 31, 2021, the Company issued 80,000 shares of common stock with a fair value of $0.15 per share to a director pursuant to a directors agreement for services rendered. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
May 31, 2021 | |
Compensation Related Costs [Abstract] | |
Stock-Based Compensation | NOTE 10 – STOCK-BASED COMPENSATION The Company accounted for its stock-based compensation in accordance with the fair value recognition provisions of FASB ASC Topic 718, “Compensation – Stock Compensation.” 2017 Equity Incentive Plan On November 10, 2017 the Board approved the 2017 PureBase Corporation Stock Option Plan which is intended to be a qualified stock option plan (the “Option Plan”). The Board reserved 10,000,000 shares of the Company’s common stock to be issued pursuant to options granted under the Option Plan. The Option Plan was subsequently approved by shareholders on September 28, 2018. As of May 31, 2021, options to purchase an aggregate of 50,000 shares of common stock have been granted under the Option Plan. The Company has also granted options to purchase an aggregate of 500,000 shares of common stock pursuant to employment contracts with certain employees prior to the adoption of the Option Plan. The Company granted options to purchase 250,000 shares of common stock during the six months ended May 31, 2021. The Company granted options to purchase an aggregate of 450,000 shares of common stock during the six months ended May 31, 2020. The weighted average grant date fair value of options granted and vested during the six months ended May 31, 2021 was $36,708 and $19,481, respectively. The weighted average grant date fair value of options granted and vested during the six months ended May 31, 2020, was $23,905 and $27,088, respectively. The weighted average non-vested grant date fair value of non-vested options was $32,030 at May 31, 2021. Compensation based stock option activity for qualified and unqualified stock options are summarized as follows: Weighted Average Shares Exercise Price Outstanding at November 30, 2020 1,345,000 $ 1.18 Granted 250,000 0.10 Exercised - - Expired or cancelled - - Outstanding at May 31, 2021 1,595,000 1.01 The following table summarizes information about options to purchase shares of the Company’s common stock outstanding and exercisable at May 31, 2021: Weighted- Weighted- Average Average Range of Outstanding Remaining Life Exercise Number exercise prices Options In Years Price Exercisable $ 0.099 400,000 3.14 $ 0.099 200,000 0.10 645,000 4.29 0.10 350,000 0.12 50,000 7.32 0.12 50,000 3.00 500,000 5.76 3.00 500,000 1,595,000 4.24 $ 1.01 1,100,000 The compensation expense attributed to the issuance of the options is recognized as they are vested. The stock options granted under the Option Plan are exercisable for ten years from the grant date and vest over various terms from the grant date to three years. On April 8, 2020, the Company granted a director an option to purchase 250,000 shares of the Company’s common stock at an exercise price of $0.10 per share and a fair value of $27,088. The options vest immediately at the grant date. The options were valued using the Black-Scholes option pricing model under the following assumptions: stock price - $0.11; strike price - $0.10; expected volatility – 305%; risk-free interest rate – 0.47%; dividend rate – 0%; and expected term – 2.50 years. On April 15, 2020, the Company granted two advisory board members options to purchase an aggregate of 200,000 shares of the Company’s common stock at an exercise price of $0.10 per share and a fair value of $19,481. The options vest one year from the date of grant. The options were valued using the Black-Scholes option pricing model under the following assumptions: stock price - $0.099; strike price - $0.10; expected volatility – 304%; risk-free interest rate – 0.34%; dividend rate – 0%; and expected term – 2.50 years. On April 8, 2021, the Company granted a director an option to purchase 250,000 shares of the Company’s common stock at an exercise price of $0.10 per share and a fair value of $36,708. These options vest one year from the grant date. The options were valued using the Black-Scholes option pricing model under the following assumptions: stock price - $0.15; strike price - $0.10; expected volatility – 281%; risk-free interest rate – 0.85%; dividend rate – 0%; and expected term – 2.50 years. The aggregate intrinsic value totaled $448,350 and was based on the Company’s closing stock price of $0.51 as of May 31, 2021, which would have been received by the option holders had all option holders exercised their options as of that date. Total compensation expense related to the options was $44,148 and $54,836 for the three months ended May 31, 2021 and 2020, respectively. Total compensation expense related to the options was $24,246 and $30,335 for the six months ended May 31, 2021 and 2020, respectively. As of May 31, 2021, there was $36,428 in future compensation cost related to non-vested stock options. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
May 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 11 – RELATED PARTY TRANSACTIONS Bayshore Capital Advisors, LLC On February 26, 2016, the Company issued a promissory note in the principal amount of $25,000 with an interest rate of 6% per annum to Bayshore Capital Advisors, LLC, an affiliate through common ownership of a 10% shareholder of the Company for working capital purposes. The note was payable August 26, 2016, or when the Company closes a bridge financing, whichever occurs first. The Company is in default on this note at May 31, 2021. US Mine Corporation The Company entered into a contract mining agreement with USMC, a company owned by the majority stockholders of the Company, A. Scott Dockter and John Bremer, pursuant to which USMC will provide various technical evaluations and mine development services to the Company. During the three and six months ended May 31, 2021 the Company made $12,000 in purchases from USMC. During the three and six months ended May 31, 2020, the Company did not make any purchases from USMC. No services were rendered by USMC for the three and six months ended May 31, 2021 and 2020. In addition, during the three and six months ended May 31, 2021, USMC paid $22,150 to the Company’s vendors and creditors on behalf of the Company which is recorded as part of due to affiliates on the Company’s unaudited condensed consolidated balance sheets. During the three and six months ended May 31, 2020, USMC made no payment to the Company’s vendors and creditors on behalf of the Company. During the three and six months ended May 31, 2021 and 2020, USMC made cash advances to the Company of $316,000 and $558,077 and $33,000 and $125,000, respectively, which are recorded as part of due to affiliates on the Company’s unaudited condensed consolidated balance sheets. During the six months ended June 30, 2021, the Company and USMC converted an aggregate of $1,401,769 of outstanding payables into two convertible notes (See Note 5). The balance due to USMC was $269,616 and $1,091,158 at May 31, 2021 and November 30, 2020, respectively. On September 26, 2019, the Company entered into a securities purchase agreement with USMC pursuant to which USMC may purchase up to $1,000,000 of the Company’s 5% unsecured convertible two-year promissory notes in one or more closings. The notes are convertible into the Company’s common stock at a conversion price of $0.16 per share. As of May 31, 2021, USMC has purchased notes totaling $1,000,000 with maturity dates ranging from December 1, 2021 through November 25, 2022 (See Note 5). Interest expense on these notes totaled $12,466 and $3,461 for the three months ended May 31, 2021 and 2020, respectively. Interest expense on these notes totaled $24,795 and $3,461 for the six months ended May 31, 2021 and 2020, respectively, and is recorded as part of accrued expenses on the unaudited condensed consolidated balance sheets. On November 25, 2020, the Company entered a securities purchase agreement with USMC pursuant to which USMC may purchase up to $2,000,000 of the Company’s 5% unsecured two-year promissory notes in one or more closings. The notes are convertible into the Company’s common stock at a conversion price of $0.088 per share. As of May 31, 2021, USMC has purchased notes totaling $579,8769 with a maturity date of March 17, 2023 (See Note 5). Interest expense on these notes totaled $5,877 for the three and six months ended May 31, 2021 and is recorded as part of accrued expenses on the unaudited condensed consolidated balance sheets. The outstanding balance due on the above notes to USMC is $1,579,769 and $178,000 at May 31, 2021 and November 30, 2020, respectively. On April 22, 2020, the Company entered into a Material Supply Agreement (the “Supply Agreement”) with USMC which amended the prior Materials Supply Agreement entered into on October 12, 2018. All kaolin clay purchased by the Company from USMC under the Supply Agreement must be used exclusively for agricultural products and supplementary cementitious materials. Under the terms of the Supply Agreement, the Company will pay $25 per ton for the kaolin clay for supplementary cementitious materials and $145 per ton for bagged products for clay for agriculture (in each case plus an additional $5 royalty fee per ton). The Supply Agreement also provides that if USMC provides pricing to any other customer which is more favorable than that provided to the Company, USMC shall adjust the cost to the Company to conform to the more favorable terms. The initial term of the Agreement is three years, which automatically renews for three successive one-year terms, unless either party provides notice of termination at least sixty days prior to the end of the then current term. Either party has the right to terminate the Agreement for a material breach which is not cured within 90 days. US Mine LLC On May 27, 2021, the Company entered into the Extraction Agreement with US Mine LLC, pursuant to which the Company acquired the right to extract up to 100,000,000 of certain raw clay materials. The Extraction Agreement is effective until 100,000,000 tons of material are extracted. As compensation for such right the Company issued a ten-year convertible promissory note in the principal amount of $50,000,000 to US Mine, LLC (the “US Mine Note”). The US Mine Note bears interest at the rate of 2.5% per annum which is payable upon maturity. Amounts due under the US Mine Note may be converted into shares of the Company’s common stock at the option of the noteholder, at a conversion price of $0.43 per share. The noteholder may convert (i) up to 50% of the outstanding balance on or after such date as the Company’s common stock is listed for trading on any national securities exchange, (ii) up to an additional 25% of the outstanding balance on or after the six-month anniversary of such initial trading date, and (iii) the remaining 25% on or after the twelve-month anniversary of such initial trading date. In addition, the Company will pay US Mine LLC a royalty fee of $5.00 per ton of materials extracted and any royalty not paid in a timely manner with be subject to 15% interest per annum and compounded monthly. Subsequent to May 31, 2021, on October 6, 2021, and prior to consummation of activities under the Extraction Agreement, the Company and US Mine executed an amendment to the Extraction Agreement (the “Amendment”) (See Note 13). Pursuant to the Amendment, the Note was cancelled and an option to purchase an aggregate of 116,000,000 shares of the Company’s common stock at an exercise price of $0.38 per share until April 6, 2028 was issued to US Mine as compensation. Shares subject to the option vest as to 58,000,000 shares on April 6, 2022, 29,000,000 shares on October 6, 2022, and 29,000,000 shares on April 6, 2023. Leases On October 1, 2020 the Company entered into a two-year lease agreement for its office space with USMC with a monthly rent of $1,500 (See Note 7). Transactions with Officers On August 31, 2017, the Company issued a note in the amount of $197,096 to Arthur Scott Dockter, President, CEO and a director of the Company to consolidate the total amounts due to and assumed by Mr. Dockter. The note bears interest at 6% and is due upon demand. During the six months ended May 31, 2021, the Company repaid $38,100 towards the balance of the note. As of May 31, 2021 and November 30, 2020, the principal balance due on this note was $89,716 and $127,816, respectively, and is recorded as Note Payable to Officer on the unaudited condensed consolidated balance sheet. Total interest expense on the note was $3,368 and $4,834 for the six months ended May 31, 2021 and 2020, respectively. Total interest expense on the note was $1,500 and $2,916 for the three months ended May 31, 2021 and 2020, respectively. |
Concentration of Credit Risk
Concentration of Credit Risk | 6 Months Ended |
May 31, 2021 | |
Risks and Uncertainties [Abstract] | |
Concentration of Credit Risk | NOTE 12 – CONCENTRATION OF CREDIT RISK Cash Deposits Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. As of May 31, 2021 and November 30, 2020, the Company had no deposits in excess of the FDIC insured limit. Revenues One customer accounted for 100% of total revenue for the six months ended May 31, 2021. Three customers accounted for 100% of total revenue for the six months ended May 31, 2020, as set forth below: Customer A 74 % Customer B 16 % Customer C 10 % Accounts Receivable One customer accounted for 92% of the accounts receivable as of May 31, 2021. Two customers accounted for 100% of the accounts receivable as of November 30, 2020, as set forth below: Customer A 80 % Customer B 20 % Vendors Three vendors accounted for 84% of purchases as of May 31, 2021, as set forth below: Vendor A 57 % Vendor B – related party 15 % Vendor C 11 % One supplier accounted for 85% of purchases as of November 30, 2020. |
Subsequent Events
Subsequent Events | 6 Months Ended |
May 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 13 – SUBSEQUENT EVENTS On October 6, 2021, prior to the consummation of activities under the Extraction Agreement, the Company and US Mine executed an amendment to the Extraction Agreement (the “Amendment”). Pursuant to the Amendment, the US Mine Note was cancelled and an option to purchase an aggregate of 116,000,000 shares of the Company’s common stock at an exercise price of $0.38 per share until April 6, 2028, was issued to US Mine as compensation. Shares subject to the option vest as to 58,000,000 shares on April 6, 2022, 29,000,000 shares on October 6, 2022, and 29,000,000 shares on April 6, 2023. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) including Form 10-Q and Regulation S-X. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments, unless otherwise indicated) which are, in the opinion of management, necessary to fairly state the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted pursuant to such rules and regulations. These financial statements and the information included under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” should be read in conjunction with the audited financial statements and explanatory notes for the year ended November 30, 2020 in our Form 10-K filed on March 16, 2021 with the SEC. The results of the three and six months ended May 31, 2021 (unaudited) are not necessarily indicative of the results to be expected for the full year ending November 30, 2021. |
Principles of Consolidation | Principles of Consolidation These unaudited condensed consolidated financial statements include the accounts of the Company and wholly-owned subsidiaries PureBase AG and USAM. Intercompany accounts and transactions have been eliminated upon consolidation. |
Use of Estimates | Use of Estimates The preparation of 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 equity-based transactions at the date of the financial statements and the revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. The Company believes the following critical accounting policies affect its more significant judgments and estimates used in the preparation of the unaudited condensed consolidated financial statements. Significant estimates include the allowance for doubtful accounts, useful lives of property and equipment, deferred tax asset and valuation allowance, assumptions used in Black-Scholes-Merton, or BSM, valuation methods, such as expected volatility, risk-free interest rate, and expected dividend rate. |
Revenue | Revenue The Company derives revenues from the sale of its agricultural products. The Company’s contracted transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company’s contracts have a single performance obligation which are not separately identifiable from other promises in the contracts and is, therefore, not distinct. The Company’s performance obligation is satisfied upon the transfer of risk of loss to the customer. Practical Expedients As part of ASC Topic 606, the Company has adopted several practical expedients including: ● Significant Financing Component – the Company does not adjust the promised amount of consideration for the effects of a significant financing component since the Company expects, at contract inception, that the period between when the Company transfers a promised good or service to the customer and when the customer pays for that good or service will be one year or less. ● Unsatisfied Performance Obligations – all performance obligations related to contracts with a duration for less than one year, the Company has elected to apply the optional exemption provided in ASC Topic 60 and therefore, is not required to disclose the aggregate amount of transaction price allocated to performance obligations that are unsatisfied or partially satisfied at the end of the reporting period. ● Shipping and Handling Activities – the Company elected to account for shipping and handling activities as a fulfillment cost rather than as a separate performance obligation. ● Right to Invoice – the Company has a right to consideration from a customer in an amount that corresponds directly with the value to the customer of the Company’s performance completed to date the Company may recognize revenue in the amount to which the entity has a right to invoice. Disaggregated Revenue Revenue consists of the following by product offering for the six months ended May 31, 2021: Humate INU Advantage SHADE ADVANTAGE (WP) SulFe Hume Si ADVANTAGE Total $ - $ 30,000 $ - $ 30,000 Revenue consists of the following by product offering for the six months ended May 31, 2020: Humate INU Advantage SHADE ADVANTAGE (WP) SulFe Hume Si ADVANTAGE Total $ 6,129 $ - $ - $ 6,129 |
Cash | Cash The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. There are no cash equivalents as of May 31, 2021 and November 30, 2020. |
Account Receivable | Account Receivable The Company periodically assesses its accounts and other receivables for collectability on a specific identification basis. If collectability of an account becomes unlikely, an allowance is recorded for that doubtful account. At May 31, 2021 and November 30, 2020, the Company has determined that an allowance of $18,277 for doubtful accounts was necessary. |
Property and Equipment | Property and Equipment Property and equipment are recorded at cost. Depreciation is computed using straight-line method over the estimated useful lives of the related assets, generally three to five years. Expenditures that enhance the useful lives of the assets are capitalized and depreciated. Equipment 3-5 years Autos and trucks 5 years Maintenance and repairs are charged to expense as incurred. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation will be removed from the accounts and the resulting gain or loss, if any, will be reflected in operations. The Company currently has $620,000 in property and equipment that it acquired on May 1, 2020. As of May 31, 2021, the Company has not put the acquired property and equipment to use. As such, the Company has not recorded depreciation. |
Impairment of Long-lived Assets | Impairment of Long-Lived Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of these assets is determined by comparing the forecasted undiscounted net cash flows of the operation to which the assets relate to the carrying amount. If the operation is determined to be unable to recover the carrying amount of its assets, then these assets are written down first, followed by other long-lived assets of the operation to fair value. Fair value is determined based on discounted cash flows or appraised values, depending on the nature of the assets. No impairment losses were recorded during the three and six months ended May 31, 2021 and 2020. |
Shipping and Handling | Shipping and Handling The Company incurs shipping and handling costs which are charged back to the customer. There were no shipping and handling costs incurred during the three and six months ended May 31, 2021 and 2020. |
Advertising and Marketing Costs | Advertising and Marketing Costs The Company expenses advertising and marketing costs as they are incurred. Advertising and marketing expenses were $42,000 and $2,052 for the six months ended May 31, 2021 and 2020, respectively, and $26,000 and $490 for the three months ended May 31, 2021 and 2020, respectively, and are recorded in selling, general and administrative expenses on the statement of operations. |
Fair Value Measurements | Fair Value Measurements As defined in ASC 820, “Fair Value Measurements and Disclosures,” fair value is 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 (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). This fair value measurement framework applies at both initial and subsequent measurement. Level 1: Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. Level 2: Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars. Level 3: Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying value of cash, accounts receivable, accounts payable and accrued expenses approximate their fair values based on the short-term maturity of these instruments. The carrying amount of notes approximates the estimated fair value for these financial instruments as management believes that such notes constitute substantially all of the Company’s debt and interest payable on the notes approximates the Company’s incremental borrowing rate. |
Net Loss Per Common Share | Net Loss Per Common Share Net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding during the year. All outstanding options are considered potential common stock. The dilutive effect, if any, of stock options are calculated using the treasury stock method. All outstanding convertible notes are considered common stock at the beginning of the period or at the time of issuance, if later, pursuant to the if-converted method. Since the effect of common stock equivalents is anti-dilutive with respect to losses, the options have been excluded from the Company’s computation of net loss per common share for the three and six months May 31, 2021 and 2020. The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company’s net loss position even though the exercise price could be less than the average market price of the common shares: Six Months Ended May 31, 2021 May 31, 2020 Convertible Notes 129,117,358 1,112,500 Stock Options 1,595,000 550,000 Total 130,712,358 1,662,500 Three Months Ended May 31, 2021 May 31, 2020 Convertible Notes 129,117,358 1,112,500 Stock Options 1,595,000 550,000 Total 130,712,358 1,662,500 |
Stock-Based Compensation | Stock-Based Compensation The Company applies the provisions of ASC 718, Compensation—Stock Compensation (“ASC 718”), which requires the measurement and recognition of compensation expense for all stock-based awards made to employees, including employee stock options, in the statements of operations. For stock options issued to employees and members of the Company’s Board of Directors (the “Board”) for their services, the Company estimates the grant date fair value of each option using the Black-Scholes option pricing model. The use of the Black-Scholes option pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the Common Stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the Common Stock. For awards subject to service-based vesting conditions, including those with a graded vesting schedule, the Company recognizes stock-based compensation expense equal to the grant date fair value of stock options on a straight-line basis over the requisite service period, which is generally the vesting term. Forfeitures are recorded as they are incurred as opposed to being estimated at the time of grant and revised. Pursuant to ASU 2018-07 Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, the Company accounts for stock options issued to non-employees for their services in accordance ASC 718. The Company uses valuation methods and assumptions to value the stock options that are in line with the process for valuing employee stock options noted above. |
Income Taxes | Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carry forwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company utilizes ASC 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. The Company accounts for income taxes using the asset and liability method to compute the differences between the tax basis of assets and liabilities and the related financial amounts, using currently enacted tax rates. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized. For uncertain tax positions that meet a “more likely than not” threshold, the Company recognizes the benefit of uncertain tax positions in the consolidated financial statements. The Company’s practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense in the consolidated statements of operations. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements All other newly issued but not yet effective accounting pronouncements have been deemed to be not applicable or immaterial to the Company. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule of Disaggregated Revenue | Revenue consists of the following by product offering for the six months ended May 31, 2021: Humate INU Advantage SHADE ADVANTAGE (WP) SulFe Hume Si ADVANTAGE Total $ - $ 30,000 $ - $ 30,000 Revenue consists of the following by product offering for the six months ended May 31, 2020: Humate INU Advantage SHADE ADVANTAGE (WP) SulFe Hume Si ADVANTAGE Total $ 6,129 $ - $ - $ 6,129 |
Schedule of Estimated Useful Life of Property and Equipment | Expenditures that enhance the useful lives of the assets are capitalized and depreciated. Equipment 3-5 years Autos and trucks 5 years |
Schedule of Outstanding Shares Excluded from Diluted Loss Per Share | The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company’s net loss position even though the exercise price could be less than the average market price of the common shares: Six Months Ended May 31, 2021 May 31, 2020 Convertible Notes 129,117,358 1,112,500 Stock Options 1,595,000 550,000 Total 130,712,358 1,662,500 Three Months Ended May 31, 2021 May 31, 2020 Convertible Notes 129,117,358 1,112,500 Stock Options 1,595,000 550,000 Total 130,712,358 1,662,500 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Expenses (Tables) | 6 Months Ended |
May 31, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses consist of the following amounts: May 31, 2021 November 30, 2020 Accounts payable $ 77,988 $ 84,600 Accrued interest – related party 81,800 39,948 Accrued compensation 21,138 39,492 Accrued expenses 3,323 - Accounts payable and accrued expenses $ 184,249 $ 164,040 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
May 31, 2021 | |
Leases [Abstract] | |
Schedule of Lease Cost and Other Supplemental Lease Information | The following table presents net lease cost and other supplemental lease information: Six Months Ended May 31, 2021 Lease cost Operating lease cost (cost resulting from lease payments) $ 9,000 Short term lease cost - Sublease income - Net lease cost $ 9,000 Operating lease – operating cash flows (fixed payments) $ 9,000 Operating lease – operating cash flows (liability reduction) $ 8,265 Non-current leases – right of use assets $ 24,169 Current liabilities – operating lease liabilities $ 17,161 Non-current liabilities – operating lease liabilities $ 7,407 |
Schedule of Future Minimum Lease Payments | Future minimum payments under non-cancelable leases for operating leases for the remaining terms of the leases following the six months ended May 31, 2021: Fiscal Year Operating Leases Remainder of 2021 $ 9,000 2022 16,500 Total future minimum lease payments 25,500 Amount representing interest (932 ) Present value of net future minimum lease payments $ 24,568 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
May 31, 2021 | |
Compensation Related Costs [Abstract] | |
Schedule of Stock Option Activity | Compensation based stock option activity for qualified and unqualified stock options are summarized as follows: Weighted Average Shares Exercise Price Outstanding at November 30, 2020 1,345,000 $ 1.18 Granted 250,000 0.10 Exercised - - Expired or cancelled - - Outstanding at May 31, 2021 1,595,000 1.01 |
Schedule of Stock Option Shares Outstanding and Exercisable | The following table summarizes information about options to purchase shares of the Company’s common stock outstanding and exercisable at May 31, 2021: Weighted- Weighted- Average Average Range of Outstanding Remaining Life Exercise Number exercise prices Options In Years Price Exercisable $ 0.099 400,000 3.14 $ 0.099 200,000 0.10 645,000 4.29 0.10 350,000 0.12 50,000 7.32 0.12 50,000 3.00 500,000 5.76 3.00 500,000 1,595,000 4.24 $ 1.01 1,100,000 |
Concentration of Credit Risk (T
Concentration of Credit Risk (Tables) | 6 Months Ended |
May 31, 2021 | |
Risks and Uncertainties [Abstract] | |
Schedule of Concentration of Credit Risk | Revenues One customer accounted for 100% of total revenue for the six months ended May 31, 2021. Three customers accounted for 100% of total revenue for the six months ended May 31, 2020, as set forth below: Customer A 74 % Customer B 16 % Customer C 10 % Accounts Receivable One customer accounted for 92% of the accounts receivable as of May 31, 2021. Two customers accounted for 100% of the accounts receivable as of November 30, 2020, as set forth below: Customer A 80 % Customer B 20 % Vendors Three vendors accounted for 84% of purchases as of May 31, 2021, as set forth below: Vendor A 57 % Vendor B – related party 15 % Vendor C 11 % |
Organization and Business Ope_2
Organization and Business Operations (Details Narrative) | 6 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
Date of incorporation | Mar. 2, 2010 |
Entity incorporation, state or country code | NV |
Going Concern and Liquidity (De
Going Concern and Liquidity (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | Nov. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Accumulated deficit | $ (13,398,370) | $ (13,398,370) | $ (12,754,027) | ||
Working capital | (1,101,000) | (1,101,000) | |||
Loss From Operations | $ (398,455) | $ (195,272) | (621,495) | $ (354,499) | |
Cash flows from operations | $ (525,921) | $ (396,211) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | Nov. 30, 2020 | |
Cash equivalents | |||||
Allowance for doubtful accounts receivable | 18,277 | 18,277 | 18,277 | ||
Property and equipment, net | 620,000 | $ 620,000 | 620,000 | $ 620,000 | $ 620,000 |
Impairment losses | |||||
Selling, General and Administrative Expenses [Member] | |||||
Advertising and marketing expenses | $ 26,000 | $ 490 | 42,000 | 2,052 | |
Shipping and Handling [Member] | |||||
Costs and expense |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Disaggregated Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | |
Revenue | $ 30,000 | $ 1,619 | $ 30,000 | $ 6,129 |
Humate INU Advantage [Member] | ||||
Revenue | 6,129 | |||
Shade Advantage (WP) [Member] | ||||
Revenue | 30,000 | |||
SulFe Hume Si Advantage [Member] | ||||
Revenue |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Schedule of Estimated Useful Life of Property and Equipment (Details) | 6 Months Ended |
May 31, 2021 | |
Equipment [Member] | Minimum [Member] | |
Property and equipment estimated useful lives | 3 years |
Equipment [Member] | Maximum [Member] | |
Property and equipment estimated useful lives | 5 years |
Autos and Trucks [Member] | |
Property and equipment estimated useful lives | 5 years |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Schedule of Outstanding Shares Excluded from Diluted Loss Per Share (Details) - shares | 3 Months Ended | 6 Months Ended | ||
May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | |
Potentially dilutive securities | 130,712,358 | 1,662,500 | 130,712,358 | 1,662,500 |
Convertible Notes [Member] | ||||
Potentially dilutive securities | 129,117,358 | 1,112,500 | 129,117,358 | 1,112,500 |
Stock Options [Member] | ||||
Potentially dilutive securities | 1,595,000 | 550,000 | 1,595,000 | 550,000 |
Mining Rights (Details Narrativ
Mining Rights (Details Narrative) | Apr. 01, 2020USD ($) | Oct. 15, 2015USD ($) | Dec. 01, 2014USD ($)aPlacer | Nov. 28, 2014USD ($) | Nov. 30, 2020USD ($)a | Nov. 30, 2017USD ($) | May 31, 2021ft² |
Acres of land | ft² | 1,000 | ||||||
Snow White Pozzolan Mine [Member] | |||||||
Purchase mining properties | $ 836,000 | ||||||
Ownership percentage | 19.00% | ||||||
Percentage of purchase price | 5.00% | ||||||
BLM [Member] | Esmeralda County NV [Member] | |||||||
Acres of land | a | 2,500 | ||||||
BLM [Member] | Esmeralda County NV [Member] | Potassium/Sulfur Deposit [Member] | |||||||
Acres of land | a | 15.5 | ||||||
Carrying cost | $ 200,000 | ||||||
Lease payment | 7,503 | ||||||
BLM [Member] | California, San Bernardino [Member] | Snow White Mine [Member] | Purchase Agreement [Member] | USMC [Member] | |||||||
Acres of land | a | 280 | ||||||
Number of placer mining claim | Placer | 5 | ||||||
Escrow deposit | $ 50,000 | $ 600,000 | |||||
Payment for extend to close purchase agreement | $ 25,000 | ||||||
Royalty payment | 3,500 | ||||||
Purchase mining properties | $ 650,000 | $ 75,000 | |||||
BLM [Member] | California, San Bernardino [Member] | Snow White Mine [Member] | Purchase Agreement [Member] | USMC [Member] | Mr. John Bremer [Member] | |||||||
Payment for purchased property | $ 575,000 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | May 27, 2021 | Mar. 17, 2021 | Dec. 02, 2020 | Feb. 02, 2020 | Jan. 01, 2020 | Dec. 02, 2019 | Feb. 26, 2016 | May 31, 2021 | May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | Nov. 30, 2020 | Aug. 31, 2017 |
Interest expenses | $ 5,877 | $ 5,877 | ||||||||||||
Common stock par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||
Amortization of debt discount | $ 21,775 | $ 17,354 | ||||||||||||
Convertible Promissory Notes [Member] | USMC [Member] | Tranche #1 [Member] | ||||||||||||||
Simple interest at an annual rate | 5.00% | |||||||||||||
Debt maturity date | Dec. 31, 2021 | |||||||||||||
Interest expenses | $ 250 | $ 250 | 500 | 500 | ||||||||||
Debt issued amount | $ 20,000 | |||||||||||||
Debt term | 2 years | |||||||||||||
Common stock par value | $ 0.001 | |||||||||||||
Conversion price | $ 0.16 | |||||||||||||
Beneficial conversion feature | $ 20,000 | |||||||||||||
Amortization of debt discount | 2,417 | 2,417 | 4,783 | 4,783 | ||||||||||
Convertible Promissory Notes [Member] | USMC [Member] | Tranche #2 [Member] | ||||||||||||||
Simple interest at an annual rate | 5.00% | |||||||||||||
Debt maturity date | Jan. 1, 2022 | |||||||||||||
Interest expenses | 1,040 | 1,080 | 2,100 | 1,780 | ||||||||||
Debt issued amount | $ 86,000 | |||||||||||||
Debt term | 2 years | |||||||||||||
Common stock par value | $ 0.001 | |||||||||||||
Conversion price | $ 0.16 | |||||||||||||
Beneficial conversion feature | $ 32,250 | |||||||||||||
Amortization of debt discount | 4,059 | 4,059 | 8,029 | 6,662 | ||||||||||
Convertible Promissory Notes [Member] | USMC [Member] | Tranche #3 [Member] | ||||||||||||||
Simple interest at an annual rate | 5.00% | |||||||||||||
Debt maturity date | Feb. 1, 2022 | |||||||||||||
Interest expenses | 900 | 900 | 1,785 | 1,200 | ||||||||||
Debt issued amount | $ 72,000 | |||||||||||||
Debt term | 2 years | |||||||||||||
Common stock par value | $ 0.001 | |||||||||||||
Conversion price | $ 0.16 | |||||||||||||
Beneficial conversion feature | $ 36,000 | |||||||||||||
Amortization of debt discount | 4,531 | 4,531 | 8,963 | 5,910 | ||||||||||
Convertible Promissory Notes [Member] | USMC [Member] | Tranche #4 [Member] | ||||||||||||||
Simple interest at an annual rate | 5.00% | |||||||||||||
Debt maturity date | Nov. 25, 2022 | |||||||||||||
Interest expenses | $ 10,100 | 20,300 | ||||||||||||
Debt issued amount | $ 822,000 | |||||||||||||
Debt term | 2 years | |||||||||||||
Conversion price | $ 0.16 | |||||||||||||
Convertible Promissory Notes [Member] | USMC [Member] | Tranche #5 [Member] | ||||||||||||||
Simple interest at an annual rate | 5.00% | |||||||||||||
Debt maturity date | Mar. 17, 2023 | |||||||||||||
Interest expenses | 5,800 | 5,800 | ||||||||||||
Debt issued amount | $ 579,769 | |||||||||||||
Debt term | 2 years | |||||||||||||
Conversion price | $ 0.088 | |||||||||||||
Arthur Scott Dockter [Member] | ||||||||||||||
Note payable balance | 89,716 | 89,716 | 89,716 | $ 127,816 | ||||||||||
Simple interest at an annual rate | 6.00% | |||||||||||||
Interest expenses | 1,500 | 2,916 | 3,368 | 4,834 | ||||||||||
Debt issued amount | $ 197,096 | |||||||||||||
Repayments of notes payable | 38,100 | |||||||||||||
Bayshore Capital Advisors, LLC [Member] | ||||||||||||||
Note payable balance | $ 25,000 | $ 25,000 | 25,000 | 25,000 | $ 25,000 | |||||||||
Simple interest at an annual rate | 6.00% | |||||||||||||
Debt maturity date | Aug. 26, 2016 | |||||||||||||
Ownership percentage | 10.00% | |||||||||||||
Maturity date, description | The note was payable August 26, 2016, or when the Company closes a bridge financing, whichever occurs first. The Company is in default on this note at May 31, 2021. | |||||||||||||
Interest expenses | $ 370 | $ 370 | $ 748 | $ 752 | ||||||||||
US Mine, LLC [Member] | Materials Extraction Agreement [Member] | ||||||||||||||
Note payable balance | $ 50,000,000 | |||||||||||||
Simple interest at an annual rate | 2.50% | |||||||||||||
Interest expenses | $ 10,300 | |||||||||||||
Debt term | 10 years | |||||||||||||
Debt conversion description | The noteholder may convert (i) up to 50% of the outstanding balance on or after such date as the Company’s common stock is listed for trading on any national securities exchange, (ii) up to an additional 25% of the outstanding balance on or after the six-month anniversary of such initial trading date, and (iii) the remaining 25% on or after the twelve-month anniversary of such initial trading date. | |||||||||||||
Conversion price | $ 0.43 |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) | May 31, 2021 | Nov. 30, 2020 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 77,988 | $ 84,600 |
Accrued interest - related party | 81,800 | 39,948 |
Accrued compensation | 21,138 | 39,492 |
Accrued expenses | 3,323 | |
Accounts payable and accrued expenses | $ 184,249 | $ 164,040 |
Leases (Details Narrative)
Leases (Details Narrative) | 6 Months Ended | ||
May 31, 2021USD ($)ft² | Dec. 02, 2020USD ($) | Nov. 30, 2020USD ($) | |
Lessee Disclosure [Abstract] | |||
Lease term | 2 years | ||
Area of land | ft² | 1,000 | ||
Lease expiration description | November 2022 | ||
Annual base rent | $ 1,500 | ||
Operating lease, right-of-use assets | 24,169 | $ 35,543 | |
Operating lease, lease liabilities | $ 24,568 | $ 35,543 | |
Weighted average incremental borrowing rate | 5.00% |
Leases - Schedule of Lease Cost
Leases - Schedule of Lease Cost and Other Supplemental Lease Information (Details) - USD ($) | 6 Months Ended | ||
May 31, 2021 | Dec. 02, 2020 | Nov. 30, 2020 | |
Lessee Disclosure [Abstract] | |||
Operating lease cost (cost resulting from lease payments) | $ 9,000 | ||
Short term lease cost | |||
Sublease income | |||
Net lease cost | 9,000 | ||
Operating lease - operating cash flows (fixed payments) | 9,000 | ||
Operating lease - operating cash flows (liability reduction) | 8,265 | ||
Non-current leases - right of use assets | 24,169 | $ 35,543 | |
Current liabilities - operating lease liabilities | 17,161 | ||
Non-current liabilities - operating lease liabilities | $ 7,408 |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Lease Payments (Details) - USD ($) | May 31, 2021 | Dec. 02, 2020 |
Lessee Disclosure [Abstract] | ||
Remainder of 2021 | $ 9,000 | |
2022 | 16,500 | |
Total future minimum lease payments | 25,500 | |
Amount representing interest | (932) | |
Present value of net future minimum lease payments | $ 24,568 | $ 35,543 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - USD ($) | Apr. 16, 2021 | Jul. 08, 2020 | Mar. 29, 2019 | Jan. 11, 2019 | May 31, 2021 | Nov. 30, 2020 |
Settlement liability | $ 400,000 | $ 400,000 | ||||
Superior Soils Supplements LLC [Member] | ||||||
Claims sought value | $ 300,000 | |||||
Chief Financial Officer, Al Calvanico [Member] | ||||||
Claims sought value | $ 600,000 | |||||
Robert Hurtado [Member] | Agregen [Member] | ||||||
Claims sought value | $ 100,000,000 | |||||
Michael Kessler [Member] | RELX, Inc [Member] | ||||||
Claims sought value | $ 18,211 |
Stockholder's Deficit (Details
Stockholder's Deficit (Details Narrative) | 6 Months Ended |
May 31, 2021$ / sharesshares | |
Number of shares issued for services | shares | 350,000 |
Directors [Member] | |
Number of shares issued for services | shares | 80,000 |
Price per share | $ 0.51 |
Directors [Member] | |
Price per share | 0.15 |
Minimum [Member] | |
Price per share | 0.07 |
Maximum [Member] | |
Price per share | $ 0.15 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details Narrative) - USD ($) | Apr. 08, 2021 | Apr. 15, 2020 | Apr. 08, 2020 | Nov. 10, 2017 | May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 |
Stock options granted during period | 250,000 | |||||||
Weighted average grant date fair value of options granted | $ 36,708 | $ 23,905 | ||||||
Weighted average grant date fair value of options vested | 19,481 | $ 27,088 | ||||||
Weighted average grant date fair value of non-vested options | $ 32,030 | |||||||
Stock-based options compensation expenses | $ 79,511 | $ 30,335 | ||||||
Stock Option [Member] | ||||||||
Stock-based options compensation expenses | $ 44,148 | $ 54,836 | 24,246 | $ 30,335 | ||||
Future compensation cost related to non-vested stock options | $ 36,428 | $ 36,428 | ||||||
Employment Contracts [Member] | ||||||||
Stock options granted during period | 250,000 | 450,000 | ||||||
Employment Contracts [Member] | Prior to the Adoption of Option Plan [Member] | ||||||||
Stock options granted during period | 500,000 | |||||||
Directors [Member] | ||||||||
Stock options granted during period | 250,000 | |||||||
Weighted average grant date fair value of options granted | $ 27,088 | |||||||
Stock exercise price | 0.10 | |||||||
Stock price | 0.11 | |||||||
Strike price | $ 0.10 | |||||||
Expected volatility | 305.00% | |||||||
Risk-free interest rate | 0.47% | |||||||
Dividend rate | 0.00% | |||||||
Expected term | 2 years 6 months | |||||||
Share based compensation, aggregate intrinsic value | $ 448,350 | |||||||
Closing stock price | $ 0.51 | $ 0.51 | ||||||
Two Advisory Board [Member] | ||||||||
Stock options granted during period | 200,000 | |||||||
Weighted average grant date fair value of options granted | $ 19,481 | |||||||
Stock exercise price | 0.10 | |||||||
Stock price | 0.099 | |||||||
Strike price | $ 0.10 | |||||||
Expected volatility | 304.00% | |||||||
Risk-free interest rate | 0.34% | |||||||
Dividend rate | 0.00% | |||||||
Expected term | 2 years 6 months | |||||||
Directors [Member] | ||||||||
Stock options granted during period | 250,000 | |||||||
Weighted average grant date fair value of options granted | $ 36,708 | |||||||
Stock exercise price | 0.10 | |||||||
Stock price | 0.15 | |||||||
Strike price | $ 0.10 | |||||||
Expected volatility | 281.00% | |||||||
Risk-free interest rate | 0.85% | |||||||
Dividend rate | 0.00% | |||||||
Expected term | 2 years 6 months | |||||||
Closing stock price | $ 0.15 | $ 0.15 | ||||||
2017 Equity Incentive Plan [Member] | Board of Directors [Member] | ||||||||
Number of stock options reserved | 10,000,000 | |||||||
Stock options granted during period | 50,000 |
Stock-Based Compensation - Sche
Stock-Based Compensation - Schedule of Stock Option Activity (Details) - $ / shares | 6 Months Ended | |
May 31, 2021 | May 31, 2020 | |
Compensation Related Costs [Abstract] | ||
Number of Options Outstanding, beginning balance | 1,345,000 | |
Number of Options, Granted | 250,000 | |
Number of Options, Exercised | ||
Number of Options, Expired or Cancelled | ||
Number of Options Outstanding, ending balance | 1,595,000 | |
Weighted Average Exercise Price, Outstanding beginning balance | $ 1.18 | |
Weighted Average Exercise Price, Granted | 0.10 | |
Weighted Average Exercise Price, Exercised | ||
Weighted Average Exercise Price, Expired or Cancelled | ||
Weighted Average Exercise Price, Outstanding, ending balance | $ 1.01 |
Stock-Based Compensation - Sc_2
Stock-Based Compensation - Schedule of Stock Option Shares Outstanding and Exercisable (Details) - $ / shares | 6 Months Ended | |
May 31, 2021 | Nov. 30, 2020 | |
Outstanding Options | 1,595,000 | 1,345,000 |
Weighted- Average Remaining Life in Years | 4 years 2 months 27 days | |
Weighted- Average Exercise Price | $ 1.01 | $ 1.18 |
Number Exercisable | 1,100,000 | |
Exercise Price 1 [Member] | ||
Range of Exercise Prices | $ 0.099 | |
Outstanding Options | 400,000 | |
Weighted- Average Remaining Life in Years | 3 years 1 month 20 days | |
Weighted- Average Exercise Price | $ 0.099 | |
Number Exercisable | 200,000 | |
Exercise Price 2 [Member] | ||
Range of Exercise Prices | $ 0.10 | |
Outstanding Options | 645,000 | |
Weighted- Average Remaining Life in Years | 4 years 3 months 15 days | |
Weighted- Average Exercise Price | $ 0.10 | |
Number Exercisable | 350,000 | |
Exercise Price 3 [Member] | ||
Range of Exercise Prices | $ 0.12 | |
Outstanding Options | 50,000 | |
Weighted- Average Remaining Life in Years | 7 years 3 months 26 days | |
Weighted- Average Exercise Price | $ 0.12 | |
Number Exercisable | 50,000 | |
Exercise Price 4 [Member] | ||
Range of Exercise Prices | $ 3 | |
Outstanding Options | 500,000 | |
Weighted- Average Remaining Life in Years | 5 years 9 months 3 days | |
Weighted- Average Exercise Price | $ 3 | |
Number Exercisable | 500,000 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Oct. 06, 2021 | May 27, 2021 | Nov. 25, 2020 | Oct. 02, 2020 | Apr. 22, 2020 | Feb. 26, 2016 | May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | Apr. 06, 2023 | Oct. 06, 2022 | Apr. 06, 2022 | Jun. 30, 2021 | Nov. 30, 2020 | Sep. 26, 2019 | Aug. 31, 2017 |
Interest expense | $ 5,877 | $ 5,877 | |||||||||||||||
Stock options granted during period | 250,000 | ||||||||||||||||
Common stock options exercise price | $ 36,708 | $ 23,905 | |||||||||||||||
USMC [Member] | |||||||||||||||||
Lease term | 2 years | ||||||||||||||||
Monthly rent | $ 1,500 | ||||||||||||||||
Material Supply Agreement [Member] | Kaolin Clay for Supplementary Cementitious Materials [Member] | |||||||||||||||||
Payments to materials and products for agriculture, per ton | $ 25 | ||||||||||||||||
Royalty fee, per ton | 5 | ||||||||||||||||
Material Supply Agreement [Member] | Bagged Products for Clay [Member] | |||||||||||||||||
Payments to materials and products for agriculture, per ton | 145 | ||||||||||||||||
Royalty fee, per ton | $ 5 | ||||||||||||||||
Arthur Scott Dockter [Member] | |||||||||||||||||
Note payable balance | 89,716 | $ 89,716 | $ 127,816 | ||||||||||||||
Note payable interest rate percentage | 6.00% | ||||||||||||||||
Note principal amount | $ 197,096 | ||||||||||||||||
Interest expense | 1,500 | $ 2,916 | 3,368 | $ 4,834 | |||||||||||||
Repayments of notes payable | 38,100 | ||||||||||||||||
Bayshore Capital Advisors, LLC [Member] | |||||||||||||||||
Note payable balance | $ 25,000 | 25,000 | 25,000 | 25,000 | |||||||||||||
Note payable interest rate percentage | 6.00% | ||||||||||||||||
Ownership percentage | 10.00% | ||||||||||||||||
Maturity date, description | The note was payable August 26, 2016, or when the Company closes a bridge financing, whichever occurs first. The Company is in default on this note at May 31, 2021. | ||||||||||||||||
Interest expense | 370 | 370 | $ 748 | 752 | |||||||||||||
US Mine Corporation [Member] | |||||||||||||||||
Maturity date, description | Maturity dates ranging from December 1, 2021 through November 25, 2022 | ||||||||||||||||
Purchase amount | 12,000 | ||||||||||||||||
Cash advances | 316,000 | 33,000 | $ 558,077 | 125,000 | |||||||||||||
Convertible notes | 1,000,000 | 1,000,000 | |||||||||||||||
US Mine Corporation [Member] | Two Convertible Notes [Member] | |||||||||||||||||
Outstanding notes payable | $ 1,401,769 | ||||||||||||||||
US Mine Corporation [Member] | Unsecured Convertible Promissory Notes [Member] | Securities Purchase Agreement [Member] | Maximum [Member] | |||||||||||||||||
Note payable interest rate percentage | 5.00% | 5.00% | |||||||||||||||
Maturity date, description | Maturity date of March 17, 2023 | ||||||||||||||||
Note principal amount | $ 2,000,000 | $ 1,000,000 | |||||||||||||||
Debt instrument, conversion price | $ 0.088 | $ 0.16 | |||||||||||||||
Convertible notes | $ 5,798,769 | ||||||||||||||||
US Mine Corporation [Member] | Vendors and Creditors [Member] | |||||||||||||||||
Payments for expenses | 22,150 | 22,150 | |||||||||||||||
Due to related parties | 269,616 | 269,616 | 1,091,158 | ||||||||||||||
USMC [Member] | |||||||||||||||||
Outstanding notes payable | 1,579,769 | 1,579,769 | $ 178,000 | ||||||||||||||
USMC [Member] | Affiliates [Member] | |||||||||||||||||
Interest expense | $ 12,466 | $ 3,461 | $ 24,795 | $ 3,461 | |||||||||||||
US Mine, LLC [Member] | Materials Extraction Agreement [Member] | |||||||||||||||||
Note payable balance | $ 50,000,000 | ||||||||||||||||
Note payable interest rate percentage | 2.50% | ||||||||||||||||
Debt instrument, conversion price | $ 0.43 | ||||||||||||||||
Interest expense | $ 10,300 | ||||||||||||||||
Royalty fee, per ton | $ 5 | ||||||||||||||||
Debt term | 10 years | ||||||||||||||||
Debt conversion description | The noteholder may convert (i) up to 50% of the outstanding balance on or after such date as the Company’s common stock is listed for trading on any national securities exchange, (ii) up to an additional 25% of the outstanding balance on or after the six-month anniversary of such initial trading date, and (iii) the remaining 25% on or after the twelve-month anniversary of such initial trading date. | ||||||||||||||||
US Mine, LLC [Member] | Materials Extraction Agreement [Member] | Forecast [Member] | |||||||||||||||||
Number of share option vested | 29,000,000 | 29,000,000 | 58,000,000 | ||||||||||||||
US Mine, LLC [Member] | Materials Extraction Agreement [Member] | Subsequent Event [Member] | |||||||||||||||||
Stock options granted during period | 116,000,000 | ||||||||||||||||
Common stock options exercise price | $ 0.38 |
Concentration of Credit Risk (D
Concentration of Credit Risk (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | |
May 31, 2021 | May 31, 2020 | Nov. 30, 2020 | |
One Customers [Member] | Revenues [Member] | Customer Concentration Risk [Member] | |||
Concentration risk percentage | 100.00% | ||
One Customers [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
Concentration risk percentage | 92.00% | ||
Three Customers [Member] | Revenues [Member] | Customer Concentration Risk [Member] | |||
Concentration risk percentage | 100.00% | ||
Two Customers [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
Concentration risk percentage | 100.00% | ||
Customers [Member] | Three Vendors [Member] | One Supplier [Member] | |||
Concentration risk percentage | 84.00% | ||
Customers [Member] | Revenue Benchmark [Member] | One Supplier [Member] | |||
Concentration risk percentage | 85.00% | ||
Maximum [Member] | |||
FDIC on Cash | $ 250,000 |
Concentration of Credit Risk -
Concentration of Credit Risk - Schedule of Concentration of Credit Risk (Details) | 6 Months Ended | 12 Months Ended | |
May 31, 2021 | May 31, 2020 | Nov. 30, 2020 | |
Revenues [Member] | Customer Concentration Risk [Member] | Customer A [Member] | |||
Concentration risk percentage | 74.00% | ||
Revenues [Member] | Customer Concentration Risk [Member] | Customer B [Member] | |||
Concentration risk percentage | 16.00% | ||
Revenues [Member] | Customer Concentration Risk [Member] | Customer C [Member] | |||
Concentration risk percentage | 10.00% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member] | |||
Concentration risk percentage | 80.00% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member] | |||
Concentration risk percentage | 20.00% | ||
Vendor A [Member] | Product Concentration Risk [Member] | Customers [Member] | |||
Concentration risk percentage | 57.00% | ||
Vendor B Related Party [Member] | Product Concentration Risk [Member] | Customers [Member] | |||
Concentration risk percentage | 15.00% | ||
Vendor C [Member] | Product Concentration Risk [Member] | Customers [Member] | |||
Concentration risk percentage | 11.00% |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - $ / shares | Oct. 06, 2021 | May 31, 2021 | May 31, 2020 | Apr. 06, 2023 | Oct. 06, 2022 | Apr. 06, 2022 |
Stock options granted during period | 250,000 | |||||
Exercise price | $ 36,708 | $ 23,905 | ||||
Materials Extraction Agreement [Member] | US Mine, LLC [Member] | Forecast [Member] | ||||||
Number of share option vested | 29,000,000 | 29,000,000 | 58,000,000 | |||
Subsequent Event [Member] | Materials Extraction Agreement [Member] | US Mine, LLC [Member] | ||||||
Stock options granted during period | 116,000,000 | |||||
Exercise price | $ 0.38 |