Document And Entity Information
Document And Entity Information | 12 Months Ended |
Nov. 30, 2019shares | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | Plymouth Rock Technologies Inc. |
Entity Central Index Key | 0001639142 |
Entity Current Reporting Status | No |
Entity Filer Category | Non-accelerated Filer |
Current Fiscal Year End Date | --11-30 |
Entity Well Known Seasoned Issuer | No |
Entity Common Stock Shares Outstanding | 32,796,600 |
Document Type | 20-F/A |
Document Period End Date | Nov. 30, 2019 |
Amendment Flag | false |
Entity Voluntary Filers | No |
Document Fiscal Period Focus | FY |
Entity Emerging Growth Company | false |
Document Fiscal Year Focus | 2019 |
Entity Shell Company | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) | Nov. 30, 2019 | Nov. 30, 2018 |
Current assets | ||
Cash | $ 583,119 | $ 2,743,694 |
Accounts receivable | 1,488 | |
Sales tax receivable | 12,310 | 10,986 |
Prepaid expenses | 105,539 | 49,891 |
Due from related parties | 25,070 | 7,400 |
Total current assets | 727,526 | 2,811,971 |
Non-current assets | ||
Equipment | 12,464 | 0 |
Intangible assets | 0 | 1,240,781 |
Goodwill | 253,975 | |
Total assets | 739,990 | 4,306,727 |
Current liabilities | ||
Accounts payable | 217,023 | 112,757 |
Due to related parties | 10,035 | 3,000 |
Loan payable | 51,184 | |
Total current liabilities | 227,058 | 166,941 |
Non-current liabilities | ||
Deferred tax liability | 245,813 | |
Total liabilities | 227,058 | 412,754 |
SHAREHOLDERS' EQUITY | ||
Share capital | 5,676,498 | 5,311,034 |
Shares to be issued | 22,811 | |
Contributed surplus | 736,271 | 185,024 |
Accumulated other comprehensive loss | 46,244 | |
Deficit | (5,968,892) | (1,602,085) |
Total shareholders' equity | 512,932 | 3,893,973 |
Total liabilities and shareholders' equity | $ 739,990 | $ 4,306,727 |
Consolidated Statements of Loss
Consolidated Statements of Loss and Comprehensive Loss - CAD ($) | 12 Months Ended | ||
Nov. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | |
Statements Line Items | |||
Sales | $ 28,257 | ||
Cost of sales | 11,891 | ||
Gross Profit | 16,366 | ||
OPERATING EXPENSES | |||
Accounting and audit fees | 80,415 | $ 66,463 | $ 19,920 |
Business development | 739,615 | 11,326 | |
Consulting fees | 125,685 | 187,015 | 14,742 |
Depreciation | 1,717 | ||
General office expenses | 68,602 | 46,466 | 2,979 |
Impairment of intangible assets | 1,315,678 | ||
Impairment of goodwill | 256,874 | ||
Insurance | 5,416 | 9,500 | |
Legal fees | 103,535 | 166,124 | 43,691 |
Management fees | 125,390 | 71,842 | 13,500 |
Rent | 77,186 | 30,000 | 2,500 |
Development Cost | 399,720 | ||
Stock-based compensation | 692,091 | ||
Transfer agent and filing fees | 111,709 | 71,076 | 19,027 |
Wages, salaries and benefits | 513,729 | 21,843 | |
Total expenses | 4,617,362 | 681,655 | 116,359 |
OTHER INCOME (EXPENSES) | |||
Loss on disposition of exploration and evaluation assets | (156,012) | ||
Acquisition costs | (159,563) | ||
Write-off of inventories | (22,800) | ||
Interest income | 14,226 | 8,630 | 370 |
Interest expense | (394) | (1,184) | |
Foreign exchange loss | (2,322) | (8,441) | |
Net Loss Before Income Tax | (4,612,286) | (998,225) | (115,989) |
Deferred tax recovery | 245,479 | 11,324 | |
Net Loss | (4,366,807) | (986,901) | (115,989) |
OTHER COMPREHENSIVE INCOME (LOSS) | |||
Item subsequently to be reclassified as profit and loss Foreign currency translation | 46,244 | ||
Total Comprehensive Loss | $ (4,320,563) | $ (986,901) | $ (115,989) |
Loss per Share, Basic and Diluted | $ (0.14) | $ (0.04) | $ (0.01) |
Weighted Average Number of Common Shares Outstanding, Basic and Diluted | 32,157,904 | 23,874,477 | 13,150,484 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - CAD ($) | Share capital [Member] | Shares to be issued [Member] | Contributed Surplus [Member] | Deficit [Member] | Accumulated other comprehensive losses [Member] | Total |
Beginning Balance at Nov. 30, 2016 | $ 633,109 | $ 0 | $ 117,016 | $ (499,195) | $ 0 | $ 250,930 |
Beginning Balance (Shares) at Nov. 30, 2016 | 12,934,000 | |||||
Statements Line Items | ||||||
Net loss for the year | (115,989) | (115,989) | ||||
Shares issued for private placements | $ 550,000 | 550,000 | ||||
Shares issued for private placements (Shares) | 5,500,000 | |||||
Shares issued for options exercised | $ 29,657 | (10,907) | 18,750 | |||
Shares issued for options exercised (Shares) | 125,000 | |||||
Share issuance costs (Shares) | 490,500 | |||||
Shares issued for exploration and evaluation assets | $ 6,000 | 6,000 | ||||
Shares issued for exploration and evaluation assets (Shares) | 300,000 | |||||
Ending Balance at Nov. 30, 2017 | $ 1,218,766 | 0 | 106,109 | (615,184) | 0 | 709,691 |
Ending Balance (Shares) at Nov. 30, 2017 | 19,349,500 | |||||
Statements Line Items | ||||||
Net loss for the year | (986,901) | (986,901) | ||||
Shares issued for warrants exercised | $ 204,500 | 204,500 | ||||
Shares issued for warrants exercised (Shares) | 2,045,000 | |||||
Shares issued for private placements | $ 2,604,220 | 2,604,220 | ||||
Shares issued for private placements (Shares) | 6,510,550 | |||||
Shares issued for acquisition | $ 1,240,200 | 1,240,200 | ||||
Shares issued for acquisition (Shares) | 3,000,000 | |||||
Shares issued for options exercised | $ 87,500 | 87,500 | ||||
Shares issued for options exercised (Shares) | 625,000 | |||||
Share issuance costs | $ (253,794) | 128,995 | (124,799) | |||
Finder's fee - acquisition | $ 159,562 | 159,562 | ||||
Finder's fee - acquisition (Shares) | 231,250 | |||||
Fair value of options exercised | $ 50,080 | (50,080) | ||||
Ending Balance at Nov. 30, 2018 | $ 5,311,034 | 0 | 185,024 | (1,602,085) | 0 | 3,893,973 |
Ending Balance (Shares) at Nov. 30, 2018 | 31,761,300 | |||||
Statements Line Items | ||||||
Net loss for the year | (4,366,807) | (4,366,807) | ||||
Foreign currency translation income | 46,244 | 46,244 | ||||
Shares issued for warrants exercised | $ 187,120 | 187,120 | ||||
Shares issued for warrants exercised (Shares) | 910,300 | |||||
Shares issued for options exercised | $ 37,500 | 37,500 | ||||
Shares issued for options exercised (Shares) | 125,000 | |||||
Stock-based compensation | 692,091 | 692,091 | ||||
Fair value of agent warrants exercised | $ 127,254 | (127,254) | ||||
Fair value of options exercised | 13,590 | (13,590) | ||||
Shares to be issued | 22,811 | 22,811 | ||||
Ending Balance at Nov. 30, 2019 | $ 5,676,498 | $ 22,811 | $ 736,271 | $ (5,968,892) | $ 46,244 | $ 512,932 |
Ending Balance (Shares) at Nov. 30, 2019 | 32,796,600 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) | 12 Months Ended | ||
Nov. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | |
Cash Provided By (Used In) | |||
Net loss for the year | $ (4,366,807) | $ (986,901) | $ (115,989) |
Items not affecting cash: | |||
Acquisition costs | 159,563 | ||
Stock-based compensation | 692,091 | ||
Foreign exchange loss | 3,743 | ||
Impairment of intangible assets | 1,286,094 | ||
Impairment of goodwill | 256,876 | ||
Loss on disposition of exploration and evaluation assets | 156,012 | ||
Depreciation expense | 1,717 | ||
Interest expense | 394 | 1,184 | |
Write-off of inventories | 22,800 | ||
Deferred income tax recovery | (245,479) | (11,324) | |
Changes in non-cash working capital: | |||
Accounts receivable | (1,488) | ||
Sales tax receivable | (1,324) | (4,413) | (5,406) |
Prepaid expenses | (55,627) | (6,890) | (40,375) |
Due from related parties | (20,673) | 11,350 | |
Due to related parties | 9,792 | 3,000 | |
Accounts payable and accrued liabilities | 104,272 | 10,911 | 35,646 |
Net cash used in operating activities | (2,317,362) | (663,765) | (126,124) |
Investing Activities | |||
Purchase of equipment | (14,175) | ||
Exploration and evaluation assets | 15,000 | ||
Acquisition of business | 47,467 | ||
Short-term investments | 90,000 | ||
Net cash provided by (used in) investing activities | (14,175) | 62,467 | 90,000 |
Financing Activities | |||
Common shares issued for cash, options and warrants exercised, net of share issuance costs, and subscription receivable | 224,619 | 3,198,840 | 122,000 |
Loan payable | (52,256) | 50,000 | |
Net cash provided by financing activities | 172,363 | 3,248,840 | 122,000 |
Increase (decrease) in cash | (2,159,174) | 2,647,542 | 85,876 |
Effect of foreign exchange rate changes on cash | (1,401) | ||
Cash, beginning of the year | 2,743,694 | 96,152 | 10,276 |
Cash, end of the year | $ 583,119 | $ 2,743,694 | $ 96,152 |
NATURE OF OPERATIONS AND ABILIT
NATURE OF OPERATIONS AND ABILITY TO CONTINUE AS A GOING CONCERN | 12 Months Ended |
Nov. 30, 2019 | |
Nature Of Operations And Ability To Continue As Going Concern Abstract | |
NATURE OF OPERATIONS AND ABILITY TO CONTINUE AS A GOING CONCERN [Text Block] | 1. NATURE OF OPERATIONS AND ABILITY TO CONTINUE AS A GOING CONCERN Plymouth Rock Technologies Inc. (the "Company") was incorporated under the Business Corporations Act of British Columbia on October 17, 2011. The head office, principal address and registered and records office of the Company are located at 300 - 2015 Burrard Street, Vancouver, B.C., V6J 3H4. On March 10, 2016, the Company's common shares commenced trading on the CSE. On January 8, 2019, the Company's common shares commenced trading on the Frankfurt Stock Exchange in Germany under the Symbol: 4XA, WKN# - A2N8RH. Effective August 27, 2019, the Company's common shares commenced trading on the OTC Markets Group ("OTCQB") under the symbol: PLRTF. On October 31, 2018, the Company completed the acquisition of Plymouth Rock Technologies Inc. ("Plymouth Rock USA"), a private Delaware corporation that is developing a system using microwave radar techniques for threat detection screening in Wi-Fi enabled zones in buildings and places, like airports, shopping malls, schools and sports venues. The Company changed its name from Alexandra Capital Corp. to Plymouth Rock Technologies Inc. with new trading symbol "PRT" on November 1, 2018. With the acquisition, the Company's principal business activity through its subsidiary, Plymouth Rock USA, was changed to focus on developing technologies related to remotely detecting assault firearms and suicide bombs concealed on the person or a carry bag. The Company focuses on detection methods without the need for a checkpoint or the compliance of the suspect who is being screened. The Company's planned technologies encompass the very latest radar technologies for quickly detecting, locating and identifying the presence of threats. Going Concern The Company incurred a net loss of $4,366,807 (November 30, 2018 - $986,901) for the year ended November 30, 2019. As at November 30, 2019, the Company had a history of losses and an accumulated deficit of $5,968,892 (November 30, 2018 - $1,602,085). The ability of the Company to continue as a going concern is dependent on achieving profitable operations, commercializing its technologies, and obtaining the necessary financing in order to develop these technologies further. The outcome of these matters cannot be predicted at this time. The Company will continue to review the prospects of raising additional debt and equity financing to support its operations until such time that its operations become self-sustaining, to fund its research and development activities and to ensure the realization of its assets and discharge of its liabilities. While the Company is expending its best efforts to achieve the above plans, there is no assurance that any such activity will generate sufficient funds for future operations. These factors indicate that a material uncertainty exists that casts significant doubt on the Company's ability to continue as a going concern. The Company is not expected to be profitable during the ensuing twelve months and therefore must rely on securing additional funds from either issuance of debt or equity financing for cash consideration. During 2019, the Company received net cash proceeds of $171,554 (2018 - $3,248,840) pursuant to financing activities. Management has been successful in raising capital through periodic private placements of the Company's common shares in the past, however there is no certainty that financing will be available in the future of that management's planned actions to address this situation will be successful. These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") with the assumption that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future rather than a process of forced liquidation. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. Such adjustments could be material. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES [Text Block] | 2. SIGNIFICANT ACCOUNTING POLICIES Basis of presentation These consolidated financial statements ("Financial Statements") have been prepared in accordance with IFRS as issued by the International Accounting Standards Board ("IASB") and interpretations of the International Financial Reporting Interpretations Committee ("IFRIC"). These Financial Statements are authorized for issue by the Board of Directors on March 31, 2020. These Financial Statements have been prepared on the historical cost basis. In addition, these Financial Statements have been prepared using the accrual basis of accounting. These Financial Statements are presented in Canadian dollars, which is the Company's functional currency. The functional currency of Plymouth Rock USA is U.S.Dollars. The assets and liabilities of Plymouth Rock USA are translated into Canadian dollars at the rate of exchange prevailing at the reporting date and their income and expense items are translated at average exchange rates for the period. Exchange differences arising on the translation are recognized in other comprehensive income. Significant accounting judgments, estimates and assumptions The preparation of these Financial Statements in conformity with IFRS requires management to make judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the Financial Statements and reported amounts of income and expenses during the period. Actual results could differ from these estimates. Significant estimates used in preparing the Financial Statements include, but are not limited to the following: (i) The calculation of deferred tax is based on the ability of the Company to generate future taxable income, the estimation of which is subject to significant uncertainty as to the amount and timing. The calculatin of deferred tax is also based on assumptions, which are subject to uncertainty as to timing and which tax rates are expected to apply when temporary differences reverse. Deferred tax recorded is also subject to uncertainty regarding the magnitude on non-capital losses available for carry forward and of the balances in various tax pools as the corporate tax return have not been prepared as of the date of financial statement preparation. (ii) The fair value of stock options and finders' warrants issued are subject to the limitations of the Black-Scholes option pricing model that incorporates market data and involves uncertainty in estimates used by management in the assumptions. Because the Black-Scholes option pricing model requires the input of highly subjective assumptions, including the expected lift, volatility of share prices, risk-free rate and dividend yield, changes in subjective input assumptions can materially affect the fair value estimate. (iii) Fair values of identifiable assets acquired and liabilities assumed The estimates of fair values of the identifiable assets acquired and liabilities assumed in a business combination require management to make estimates about the price that could be received to sell the assets acquired or discharge the liabilities assumed. Management uses an appropriate methodology (e.g. market, income or cost approach) to estimate the fair values of identifiable intangible assets acquired. (iv) Impairment of non financial assets Impairment exists when the carrying value of an asset or cash generating unit ("CGU") exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. The fair value less costs to sell calculation is based on available data from binding sales transactions in an arm's length transaction of similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on a discounted cash flow model. At November 30, 2019, the intangible assets acquired and the goodwill generated from the business acquisition determined to be impaired, therefore an impairment loss of $1,572,552 was charged for the 2019 year. Management was unable to project cash flows that can be generated from the CGUs, and consequently a full impairment loss has been recognized. Significant judgments used in the preparation of these Financial Statements include, but are not limited to the following: (i) Going concern Management has applied judgements in the assessment of the Company's ability to continue as a going concern when preparing its Financial Statements for the year ended November 30, 2019. Management prepares the Financial Statements on a going concern basis unless management either intends to liquidate the entity or to cease trading or has no realistic alternative but to do so. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the end of the reporting period. (ii) Business combinations Determination of whether a set of assets acquired and liabilities assumed constitute the acquisition of a business or asset may require the Company to make certain judgments as to whether or not the assets acquired and liabilities assumed include the inputs, processes and outputs necessary to constitute a business as defined in IFRS 3 - Business Combinations. Based on an assessment of the relevant facts and circumstances, the Company concluded that the acquisition disclosed in Note 13 met the criteria for accounting as a business combination. (iii) Intangible assets Intangible assets can be capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. To determine if the future economic benefit is probable depends on the successful commercialization of its technologies and that in turn depends on the management's judgement and knowledge. As at November 30, 2019, the development costs are not capitalized as management was unable to demonstrate the future economic benefits to be generated from the utilization of the associated expenditures. Cash Cash consists of amounts held in banks and cashable highly liquid investments with limited interest and credit risk. Consolidation The Financial Statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany balances, transactions and any unrealized gains and losses arising from intercompany transactions, have been eliminated. The Company's subsidiary is as follows: Entity Country of Incorporation Effective Economic Interest Plymouth Rock Technologies Inc. ("Plymouth Rock USA") USA 100% Plymouth Rock USA was incorporated under the General Corporation Law of the State of Delaware on March 22, 2018. Intangible assets Intangible assets that are reflected in the consolidated statements of financial position consist of assets acquired through business combinations. Intangible assets acquired in a business combination are recognized separately from goodwill and are initially recognized at their fair value at the acquisition date (which is regarded as their cost). An intangible asset is regarded as having an indefinite useful life when, based on all relevant factors, there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows. Accordingly, the Company does not amortize these intangible assets, but reviews them for impairment, annually or more frequently if events or changes in circumstances indicate that the assets might be impaired. Development costs for internally-generated intangible assets are capitalized when all of the following conditions are met: technical feasibility can be demonstrated; management has the intention to complete the intangible asset and use it; management can demonstrate the ability to use the intangible asset; it is probable that the intangible asset will generate future economic benefits; the Company can demonstrate the availability of adequate technical, financial and other resources to complete the development and to use the intangible asset; and costs attributable to the asset can be measured reliably. The amount initially recognized for internally-generated intangible assets is the sum of the expenditures incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally-generated intangible asset can be recognized, development expenditures are charged to the consolidated statements of loss and comprehensive loss in the period in which they are incurred. Equipment Recognition and measurement On initial recognition, equipment is valued at cost, being the purchase price and directly attributable cost of acquisition or construction required to bring the asset to the location and condition necessary to be capable of operating in the manner intended by the Company, including appropriate borrowing costs and the estimated present value of any future unavoidable costs of dismantling and removing the items. The corresponding liability is recognized within provisions. Equipment is subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses. When parts of an item of equipment have different useful lives, they are accounted for as separate items (major components) of equipment. Gains and losses Gains and losses on disposal of an item of equipment are determined by comparing the proceeds from disposal with the carrying amount and are recognized net within other income in profit or loss. Depreciation Half of the normal depreciation is taken in the year of acquisition for equipment with declining balance method. The depreciation rates applicable to each category of property and equipment are as follows: Computer equipment 55% declining balance Furniture 20% declining balance Business combinations Business combinations are accounted for using the acquisition method. The cost of the acquisition is measured at the aggregate of the fair values at the date of acquisition, of assets transferred, liabilities incurred or assumed, and equity instruments issued by the Company. The acquiree's identifiable assets and liabilities assumed are recognized at their fair value at the acquisition date. Acquisition related costs are recognized in profit or loss as incurred. The excess of the consideration over the fair value of the net identifiable assets and liabilities acquired is recorded as goodwill. Any gain on a bargain purchase is recorded in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities. Any goodwill that arises is tested annually for impairment. Share capital The Company records proceeds from the issuance of its common shares as equity. Proceeds received on the issuance of units, consisting of common shares and warrants are allocated between the common share and warrant component. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the most easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The fair value of the common shares issued in the private placement was determined to be the more easily measurable component and were valued at their fair value, as determined by the closing quoted price on the issuance date. The remaining proceeds, if any, are allocated to the attached warrants. Any fair value attributed to the warrants is recorded as warrant reserve. Management does not expect to record a value to the warrant in most equity issuances as unit private placements are commonly priced at market or at a permitted discount to market. If the warrants are issued as share issuance costs, the fair value of agent's warrants are measured using the Black-Scholes option pricing model and recognized in equity as a deduction from the proceeds. If the warrants are exercised, the related amount is reclassified as share capital. If the warrants expire unexercised, the related amount remains in warrant reserve. Incremental costs directly attributable to the issue of new common shares are shown in equity as a deduction, net of tax, from the proceeds. Common shares issued for consideration other than cash are valued based on their market value at the date that shares are issued. Share-based payment The Company recognizes share-based payment expense for the estimated fair value of equity-based instruments granted to both employees and non-employees. Compensation expense is recognized when the options are granted with the same amount being recorded as contributed surplus. The expense is determined using an option pricing model that takes into account the exercise price, the term of the option, the current share price, the expected volatility of the underlying shares, the expected dividend yield, and the risk-free interest rate for the term of the option. If the options are exercised, contributed surplus will be reduced by the applicable amount. Share-based payment calculations have no effect in the Company's cash position. Share purchase warrants The Company bifurcates units consisting of common shares and share purchase warrants using the residual value approach whereby it first measures the common share component of the unit at fair value using market prices as input values and then allocates any residual amount to the warrant component of the unit. The residual value of the warrant component is credited to reserves. When warrants are exercised, the corresponding residual value is transferred from reserves to share capital. If the warrants are issued as share issuance costs, the fair value of agent's warrants are measured using the Black-Scholes option pricing model and recognized in equity as a deduction from the proceeds. Earnings / loss per share Basic earnings (loss) per share are calculated using the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are calculated using the treasury stock method. This method assumes that common shares are issued for the exercise of options, warrants and convertible securities and that the assumed proceeds from the exercise of options, warrants and convertible securities are used to purchase common shares at the average market price during the period. The difference between the number of shares assumed issued and the number of shares assumed purchased is then added to the basic weighted average number of shares outstanding to determine the fully diluted number of common shares outstanding. No exercise or conversion is assumed during the periods in which a net loss is incurred as the effect is anti-dilutive. Financial instruments Financial assets The Company recognizes financial assets when it becomes party to the contractual provisions of the instrument. Financial assets are measured initially at their fair value plus, in the case of financial assets not subsequently measured at fair value through profit or loss, transaction costs that are directly attributable to their acquisition. Transaction costs attributable to the acquisition of financial assets subsequently measured at fair value through profit or loss are expensed in profit or loss when incurred. Subsequent to initial recognition, all financial assets are classified and subsequently measured at amortized cost. Interest income is calculated using the effective interest method and gains or losses arising from impairment, foreign exchange and derecognition are recognized in profit or loss. Financial assets measured at amortized cost are comprised of cash, accounts receivable and due from related parties. The Company reclassifies debt instruments only when its business model for managing those financial assets has changed. Reclassifications are applied prospectively from the reclassification date and any previously recognized gains, losses or interest are not restated. The Company recognizes a loss allowance for the expected credit losses associated with its financial assets. Expected credit losses are measured to reflect a probability-weighted amount, the time value of money, and reasonable and supportable information regarding past events, current conditions and forecasts of future economic conditions. The Company applies the simplified approach for accounts receivable that do not contain a significant financing component. Using the simplified approach, the Company records a loss allowance equal to the expected credit losses resulting from all possible default events over the assets' contractual lifetime. Financial assets are written off when the Company has no reasonable expectations of recovering all or any portion thereof. The Company derecognizes a financial asset when its contractual rights to the cash flows from the financial asset expire. Financial liabilities The Company recognizes a financial liability when it becomes party to the contractual provisions of the instrument. At initial recognition, the Company measures financial liabilities at their fair value plus transaction costs that are directly attributable to their issuance, with the exception of financial liabilities subsequently measured at fair value through profit or loss for which transaction costs are immediately recorded in profit or loss. Subsequent to initial recognition, all financial liabilities are measured at amortized cost using the effective interest rate method. Interest, gains and losses relating to a financial liability are recognized in profit or loss. Financial liabilities measured at amortized cost are comprised of accounts payable, due to related parties, and loan payable. The Company derecognizes a financial liability only when its contractual obligations are discharged, cancelled or expire. Interest Interest income and expense are recognized in profit or loss using the effective interest method. The 'effective interest rate' is the rate that exactly discounts estimated future cash payments over the expected life of the financial instrument to the gross carrying amount of the financial asset or the amortized cost of the financial liability. The effective interest rate is calculated considering all contractual terms of the financial instruments, except for the expected credit losses of financial assets. The 'amortized cost' of a financial asset or financial liability is the amount at which the instrument is measured on initial recognition minus principal repayments, plus or minus any cumulative amortization using the effective interest method of any difference between the initial amount and maturity amount and adjusted for any expected credit loss allowance. The 'gross carrying amount' of a financial asset is the amortized cost of a financial asset before adjusting for any expected credit losses. Interest income and expense is calculated by applying the effective interest rate to the gross carrying amount of the financial asset (when the asset is not credit-impaired) or the amortized cost of the financial liability. Where a financial asset has become credit-impaired subsequent to initial recognition, interest income is calculated in subsequent periods by applying the effective interest method to the amortized cost of the financial asset. If the asset subsequently ceases to be credit-impaired, calculation of interest income reverts to the gross basis. Offsetting Financial assets and financial liabilities are offset, with the net amount presented in the statement of financial position, when, and only when, the Company has a current and legally enforceable right to set off the recognized amounts and intends either to settle on a net basis or realize the asset and settle the liability simultaneously. Goodwill Goodwill is initially measured as the excess of the aggregate of the consideration transferred over the fair value of net identifiable assets acquired and liabilities assumed. Separately recognized goodwill is tested for impairment on an annual basis or when there is an indication of impairment. Impairment losses on goodwill are not reversed. Revenue recognition Revenue is recognized by applying the five-step model under IFRS 15. The Company recognizes revenue when, or as the goods or services are transferred to the control of the customer and performance obligations are satisfied. The Company's revenue is comprised of sales of its radar systems, radar components and engineering design and development services. The Company's revenue is recognized when control of the goods has been transferred, being when the goods are delivered to customers and when all performance obligations have been fulfilled. The amounts recognized as revenue represent the fair values of the considerations received or receivable from third parties on the sales of goods to customers, net of goods and services taxes and less returns, and discounts, at which time there are no conditions for the payment to become due other than the passage of time. For its engineering design and development services, revenue is recognized when the service has been rendered. Income taxes Income tax is recognized in profit or loss except to the extent that it relates to equity items, in which case it is recognized in equity. Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted at period end, adjusted for amendments to tax payable with regards to previous years. Deferred tax is recorded using the liability method, providing for temporary differences, between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences do not result in deferred tax assets or liabilities: goodwill not deductible for tax purposes; the initial recognition of assets or liabilities that affect neither accounting profit (loss) nor taxable profit (loss); and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the financial position date. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control and related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Change in accounting policies IFRS 9 Financial instruments IFRS 9, Financial Instruments ("IFRS 9") sets out requirements for recognizing and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. This standard replaces IAS 39 Financial Instruments: Recognition and Measurement ("IAS 39"). IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale. The following table presents the initial IAS 39 classification and the new IFRS 9 classification for all financial instruments held by the Company as at December 1, 2018. Original under IAS 39 New under IFRS 9 Financial assets and liabilities Classification Carrying Amount $ Classification Carrying Amount $ Cash FVTPL 2,743,694 Amortized cost 2,743,694 Due from related parties Loans and receivables 7,400 Amortized cost 7,400 Accounts payable Other financial liabilities 112,757 Amortized cost 112,757 Due to related parties Other financial liabilities 3,000 Amortized cost 3,000 Loan payable Other financial liabilities 51,184 Amortized cost 51,184 The adoption of this standard did not have any material impact to the Company's Financial Statements. The Company's policies and procedures surrounding the identification of credit risk and the recognition of credit losses comply with the requirements of this standard. IFRS 15 Revenue from contracts with customers IFRS 15, Revenue from Contracts with Customers ("IFRS 15") was issued to replace IAS 18 Revenue and IAS 11 Construction Contracts and related interpretations such as IFRIC 13 Customer Loyalty Programs. IFRS 15 introduces a single contract-based five-step model that applies to contracts with customers and two approaches for the recognition of revenue: at a point in time or over time. The five steps are: identify the contract(s) with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price, and recognize revenue when the performance obligation is satisfied. Revenue is recognized when a customer obtains control of a good or service and has the ability to direct the use and obtain the benefits from the good or service. The Company has adopted IFRS 15 on the required effective date of December 1, 2018. The adoption of this standard did not have any impact on the Company's financial position as at December 1, 2018 or results of operations for the years ended November 30, 2019 and 2018. Accounting standards, amendments and interpretations not yet effective Certain new standards, interpretations and amendments to existing standards have been issued by the IASB or the IFRIC during the year but are not yet effective. Some updates that are not applicable or are not consequential to the Company may have been excluded from the list below. IFRS 16, Leases IAS 1 - IFRIC 23 - - The Company does not expect that the new and amended standards will have a significant impact on its Financial Statements. |
PREPAID EXPENSES
PREPAID EXPENSES | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure Of Detail Information About Prepaid Expenses [Abstract] | |
PREPAID EXPENSES [Text Block] | 3. PREPAID EXPENSES As at November 30, 2019 and 2018, the Company's prepaid expenses relate to the following: November 30, 2019 November 30, 2018 Advertising and Promotions $ 38,146 $ 15,000 Rent 17,043 16,765 Others 50,350 18,126 $ 105,539 $ 49,891 Others include $39,867 (November 30, 2018 - $Nil) prepayment to related parties (Note 7). |
EQUIPMENT
EQUIPMENT | 12 Months Ended |
Nov. 30, 2019 | |
Property, plant and equipment [abstract] | |
EQUIPMENT [Text Block] | 4. EQUIPMENT Computer Furniture Total $ $ $ Cost: Balance at November 30, 2018 - - - Additions 1,720 12,453 14,173 Foreign currency translation adjustment 6 2 8 Balance at November 30, 2019 1,726 12,455 14,181 Accumulated Depreciation: Balance at November 30, 2018 - - - Depreciation 474 1,245 1,719 Foreign currency translation adjustment (1 ) (1 ) (2 ) Balance at November 30, 2019 473 1,244 1,717 Net Book Value: At November 30, 2018 - - - At November 30, 2019 1,253 11,211 12,464 |
INTANGIBLE ASSETS AND GOODWILL
INTANGIBLE ASSETS AND GOODWILL | 12 Months Ended |
Nov. 30, 2019 | |
Intangible assets and goodwill [abstract] | |
INTANGIBLE ASSETS AND GOODWILL [Text Block] | 5. INTANGIBLE ASSETS AND GOODWILL The Company's intangible assets are composed of the assets acquired from the business acquisition of Plymouth Rock USA (Note 13). The Company is in the process of developing and commercializing the following intangible assets: (1) A Millimeter Remote Imaging from Airborne Drone ("Drone X1 System"); (2) A compact microwave radar system for scanning shoe's ("Shoe-Scanner"); and (3) Wi-Fi radar techniques for threat detection screening in Wi-Fi enabled zones in buildings and places, such as airports, shopping malls, schools and sports venues ("Wi-Ti"). These assets can remotely detect, locate and identify the presence of threats. Drone X1 System Shoe-Scanner Wi-Ti Total $ $ $ $ Cost: Balance at November 30, 2017 - - - - Additions 868,547 - 372,234 1,240,781 Balance at November 30, 2018 868,547 - 372,234 1,240,781 Additions - 30,000 - 30,000 Impairment (900,260 ) (29,592 ) (385,826 ) (1,315,678 ) Foreign currency translation adjustment 31,713 (408 ) 13,592 44,897 Balance at November 30, 2019 - - - - For impairment testing purpose, the Company identified that each intangible asset is a separate cash-generating unit ("CGU'). Management was unable to project cash flows that can be generated from each of the CGUs, and consequently a full impairment loss has been recognized. As of November 30, 2019, the intangible assets acquired from the business acquisition were determined to be fully impaired, and an impairment loss of $1,315,678 was charged for the 2019 year.For the purpose of impairment testing, goodwill has been allocated to the CGUs, and the entire goodwill balance has been impaired as management was unable to project cash flows that can be generated from each of the CGUs.During the year ended November 30, 2019, the development costs of $399,720 are expensed as management was unable to demonstrate the future economic benefits to be generated from the utilization of the assets. |
ACCOUNTS PAYABLE
ACCOUNTS PAYABLE | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure Of Detail Information About Accounts Payable [Abstract] | |
ACCOUNTS PAYABLE [Text Block] | 6. ACCOUNTS PAYABLE November 30, 2019 November 30, 2018 Professional fees $ 80,216 $ 32,000 Funds to be returned to investors 38,646 38,646 Advertising costs 8,556 3,436 Development costs 42,430 13,301 Others 47,174 25,374 $ 217,023 $ 112,757 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Nov. 30, 2019 | |
Related party transactions [abstract] | |
RELATED PARTY TRANSACTIONS [Text Block] | 7. RELATED PARTY TRANSACTIONS The amounts due to and from related parties are due to the directors and officers of the Company. The balances are unsecured, non-interest bearing and due on demand. These transactions are in the normal course of operations and have been valued in these consolidated financial statements at the exchange amount, which is the amount of consideration established and agreed to by the related parties. As at November 30, 2019, $10,035 (November 30, 2018 - $3,000) was due to directors and officers of the Company: November 30, 2019 November 30, 2018 Company controlled by CFO $ 5,000 $ 3,000 CEO of the Company 5,035 $ - $ 10,035 $ 3,000 As at November 30, 2019, $25,070 (November 30, 2018 - $7,400) was due from directors and officers of the Company: November 30, 2019 November 30, 2018 Company controlled by Corporate Secretary $ 5,250 $ 5,613 CEO of the Company - 1,787 Director 19,820 - $ 25,070 $ 7,400 As at November 30, 2019, $26,578 (November 30, 2018 - $Nil) prepayment was made to the CEO of the Company and $13,289 to the SVP for Engineering Operations (November 30, 2018 - $Nil) (Note 3). During the years ended November 30, 2019, 2018 and 2017, the Company entered into the following transactions with related parties: November 30, 2019 November 30, 2018 November 30, 2017 Management fees $ 123,000 $ 71,842 $ 13,500 Accounting fees 24,490 20,748 - Share-based payments 260,145 - - Salaries and benefits to CEO 318,790 13,200 - $ 726,425 $ 105,790 $ 13,500 During the year ended November 30, 2019, the Company granted 1,350,000 options to the CEO, CFO, the Corporate Secretary, and the Company's directors as follows: November 30, 2019 Number of options granted Expense for the period CEO 400,000 $ 113,077 CFO 100,000 28,269 Corporate Secretary 100,000 28,269 Directors 750,000 90,530 1,350,000 $ 260,145 As at November 30, 2019, no options were vested, and stock-based compensation amounting to $692,091 was recognized in profit or loss of which $260,145 were for the Company's officers and directors as above (Note 10). Management fees consisted of the following: November 30, 2019 November 30, 2018 November 30, 2017 Company controlled by Corporate Secretary $ 63,000 $ 36,842 $ 13,500 Company controlled by CFO 60,000 30,000 - Director fees paid to Former Director - 5,000 - $ 123,000 $ 71,842 $ 13,500 |
LOAN PAYABLE
LOAN PAYABLE | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure of detailed information about borrowings [abstract] | |
LOAN PAYABLE [Text Block] | 8. LOAN PAYABLE On September 19, 2018, the Company received a loan of $50,000, which is payable within 6 months and bears an annual interest rate of 12%. During the year ended November 30, 2019, the Company fully repaid the loan. |
CAPITAL MANAGEMENT
CAPITAL MANAGEMENT | 12 Months Ended |
Nov. 30, 2019 | |
Capital Management [Abstract] | |
CAPITAL MANAGEMENT [Text Block] | 9. CAPITAL MANAGEMENT The Company considers its capital structure to include net residual equity of all assets, less liabilities. The Company's objectives when managing capital are to (i) maintain financial flexibility in order to preserve its ability to meet financial obligations and continue as a going concern; (ii) maintain a capital structure that allows the Company to pursue the development of its projects and products; and (iii) optimize the use of its capital to provide an appropriate investment return to its shareholders commensurate with risk. The Company's financial strategy is formulated and adapted according to market conditions in order to maintain a flexible capital structure that is consistent with its objectives and the risk characteristics of its underlying assets. The Company manages its capital structure and adjusts it in light of changes in economic conditions and the risk characteristics of its underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares or acquire or dispose of assets. |
SHARE CAPITAL
SHARE CAPITAL | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure of classes of share capital [abstract] | |
SHARE CAPITAL [Text Block] | 10. SHARE CAPITAL (a) Authorized: Unlimited number of common shares without par value As at November 30, 2019, there were 32,796,600 common shares issued and outstanding (November 30, 2018 - 31,761,300). During the year ended November 30, 2019: During the year ended November 30, 2019, the Company issued a total of 910,300 common shares for gross proceeds of $187,120 for 7,500 warrants exercised at a price of $0.60 per share, 307,800 warrants exercised at a price of $0.40 per share and 595,000 warrants exercised at a price of $0.10 per share. The Company also issued a total of 125,000 common shares for gross proceeds of $37,500 for 125,000 options exercised at a price of $0.30 per share. During the year ended November 30, 2018: During the year ended November 30, 2018, the Company issued a total of 2,045,000 common shares for gross proceeds of $204,500 for warrants exercised at a price of $0.10 per share. On April 25, 2018, the Company closed the first tranche of its previously announced non-brokered private placement. The Company issued 4,475,000 units at a price of $0.40 per unit for gross proceeds of $1,790,000. Each unit consists of one common share and one-half share purchase warrant with each whole warrant entitling the holder to purchase one common share of the Company at a price of $0.60 for 1 year from closing. On April 15, 2019, the share purchase warrants were extended to six months. The new expiry date of the warrants is October 25, 2019. Finder's fees of cash equal to 6% of proceeds and finder's warrants equal to 6% of the number of units issued were paid to five finders. Each finder's warrant will be exercisable to acquire one common share for a period of one year from closing at a price of $0.40. All securities issued are subject to a four month hold period expiring August 25, 2018. 266,850 finder's warrants were granted at an estimated fair value of $110,574, which has been included in contributed surplus. The fair value of the warrants was estimated using the Black-Scholes option pricing model with the following assumptions: expected life 1 year, volatility 166%, risk-free rate 1.88%, dividend yield 0%. On May 18, 2018, the Company closed the second and final tranche of its previously announced non-brokered private placement. The Company issued 2,035,550 units at a price of $0.40 per unit for gross proceeds of $814,220. Each unit consists of one common share and one-half share purchase warrant with each whole warrant entitling the holder to purchase one common share of the Company at a price of $0.60 for 1 year from closing. On April 15, 2019, the share purchase warrants were extended to six months. The new expiry date of the warrants is November 18, 2019. Finder's fees of cash in an amount equal to 6% of proceeds and finder's warrants equal to 6% of the number of units issued were paid to four finders. Each finder's warrant will be exercisable to acquire one common share for a period of one year from closing at a price of $0.40. All securities issued are subject to a four month hold period expiring September 18, 2018. 45,150 finder's warrants were granted at an estimated fair value of $18,420, which has been included in contributed surplus. The fair value of the warrants was estimated using the Black-Scholes option pricing model with the following assumptions: expected life 1 year, volatility 168%, risk-free rate 1.99%, dividend yield 0%. With the closure of the second and final tranche of its previously announced non-brokered private placement, the subscription received of $38,646 has been reclassified to accounts payable and accrued liabilities since investors overpaid for their subscription. On May 29, 2018, the Company issued a total of 125,000 common shares at $0.30 per share, for gross proceeds of $37,500, for options exercised by a former director of the Company. On August 23, 2018, the Company issued 500,000 common shares at a price of $0.10 per share, for gross proceeds of $50,000, for options exercised by a former director of the Company. On October 31, 2018, the Company issued 3,000,000 common shares at $0.41 per share for the acquisition of Plymouth Rock USA (Note 13). In addition, on November 1, 2018, the Company issued 231,250 common shares at $0.69 per share as finder's fees to complete the acquisition. During the year ended November 30, 2017: On February 15, 2017, the Company issued 300,000 common shares valued at $6,000 for the acquisition of exploration and evaluation assets. On November 28, 2017, the Company issued a total of 125,000 common shares at a price of $0.15 per share, for gross proceeds of $18,750, for options exercised by a former director of the Company. On November 30, 2017, the Company issued 5,500,000 common shares at a price of $0.10 per share for total gross proceeds of $550,000, pursuant to the private placement previously announced on November 10, 2017. The Company also issued 490,500 common shares at a price of $0.10 per share valued at $49,050 as finder's fees. As of November 30, 2017, the Company had subscription receivable balance of $428,000 (2016: Nil) for the common shares issued for the private placement on November 30, 2017 and $18,750 for commons share issued for options exercised by a former director on November 28, 2017 recorded in due from related party. As at November 30, 2019, the Company has 810,000 common shares (November 30, 2018 - 3,000,000) held in escrow. (b) On November 12, 2014 the Company adopted an incentive stock option plan (the "Option Plan") which provides that the Board of Directors of the Company may from time to time, in its discretion, and in accordance with the Exchange requirements, grant to directors, officers, employees, and consultants to the Company, non-transferable options to purchase common shares, provided that the number of common shares reserved for issuance will not exceed 10% of the issued and outstanding common shares in the capital of the Company at the time of granting of options. On January 16, 2019, the Company granted 2,300,000 stock options, which are exercisable for a period of five years, at a price of $0.60 per share. During the year, 150,000 of these stock options were cancelled. The remaining 2,150,000 stock options vest as follows: (i) 1,075,000 options on January 15, 2020, (ii) 268,750 options on April 15, 2020, (iii) 268,750 options on July 15, 2020, (iv) 268,750 options on October 15, 2020, and (v) 268,750 options on January 15, 2021. The fair value was estimated using the Black-Scholes pricing model with estimated, stock price of $0.54, volatility 100%, risk-free rate 1.93%, dividend yield 0%, and expected life of 5 years. With these assumptions, the fair value of options was determined to be $913,140, which will be expensed over the vesting period. On March 21, 2019, the Company granted an aggregate of 350,000 incentive stock options to consultants of the Company with an exercise price of $0.60 per share for a period of five years from the date of grant. The stock options vest as follows: (i) 175,000 options on March 20, 2020, (ii) 43,750 options on June 20, 2020, (iii) 43,750 options on December 20, 2020, (iv) 43,750 options on March 20, 2021, and (v) 43,750 options on June 20, 2021. The fair value was estimated using the Black-Scholes pricing model with estimated, stock price of $0.57, volatility 100%, risk-free rate 1.56%, dividend yield 0%, and expected life of 5 years. With these assumptions, the fair value of options was determined to be $147,613, which will be expensed over the vesting period. On November 29, 2019, the Company granted an aggregate of 650,000 incentive stock options to consultants and a director of the Company with an exercise price of $0.50 per share for a period of five years from the date of grant. The stock options vest as follows: (i) 325,000 options on November 30, 2020 and (ii) 325,000 options on November 30, 2021. The fair value was estimated using the Black-Scholes pricing model with estimated, stock price of $0.49, volatility 100%, risk-free rate 1.49%, dividend yield 0%, and expected life of 5 years. With these assumptions, the fair value of options was determined to be $236,809, which will be expensed over the vesting period. During the year ended November 30, 2019, 150,000 options issued to a director and a consultant were cancelled before vested. Stock-based compensation recognized in profit or loss for the year ended November 30, 2019 amounted to $692,091 (2018 - $Nil). Stock option transactions and the number of stock options outstanding as at November 30, 2019, 2018 and 2017 are summarized as follows: Number of Weighted Average Options Exercise Price Balance, November 30, 2016 875,000 $0.16 Exercised (125,000 ) $0.15 Balance, November 30, 2017 750,000 $0.17 Exercised (625,000 ) $0.14 Balance, November 30, 2018 125,000 $0.30 Granted 3,300,000 $0.58 Exercised (125,000 ) $0.30 Cancelled (150,000 ) $0.60 Balance, November 30, 2019 3,150,000 $0.58 Expiry Date Exercise Price Numbers of options outstanding Numbers of options exercisable Weighted average remaining contractual life (year) Weighted average exercise price $ $ January 15, 2024 0.60 2,150,000 - 2.82 0.60 March 20, 2024 0.60 350,000 - 0.48 0.60 November 28, 2024 0.50 650,000 - 1.03 0.50 3,150,000 - 4.33 0.58 (c) Share purchase warrants As at November 30, 2019, the Company has no outstanding share purchase warrants. Share purchase warrant transactions and the number of share purchase warrants outstanding as at November 30, 2019, 2018 and 2017 are summarized as follows: Number of Warrants Weighted Average Exercise Price Balance, November 30, 2017 and 2016 2,640,000 $ 0.10 Warrants granted 3,567,275 $ 0.58 Warrants exercised (2,045,000 ) $ 0.10 Balance, November 30, 2018 4,162,275 $ 0.51 Warrants expired (3,251,975 ) $ 0.60 Warrants exercised (910,300 ) $ 0.21 Balance, November 30, 2019 - $ - |
FINANCIAL RISK MANAGEMENT
FINANCIAL RISK MANAGEMENT | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure Of Financial Risk Management Explanatory [Abstract] | |
FINANCIAL RISK MANAGEMENT [Text Block] | 11. FINANCIAL RISK MANAGEMENT The Company's financial assets consist of cash, and due from related parties. The estimated fair values of cash, subscription receivable, and due from related parties approximate their respective carrying values due to the short period to maturity. Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are: a. b. c. For the years ended November 30, 2019 and 2018, the fair value of the cash, accounts receivable, accounts payable, due to and from related parties and loans payable approximate the book value due to the short term nature. The Company is exposed to a variety of financial instrument related risks. The Board approves and monitors the risk management processes, inclusive of counterparty limits, controlling and reporting structures. The type of risk exposure and the way in which such exposure is managed is provided as follows: Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations when they become due. The Company ensures, as far as reasonably possible, it will have sufficient capital in order to meet short-term business requirements, after taking into account cash flows from operations and the Company's holdings of cash. The Company believes that these sources will be sufficient to cover the likely short-term cash requirements. The Company's cash is currently invested in business accounts which is available on demand by the Company for its operations. Interest Rate Risk Interest rate risk is the risk that future cash flows will fluctuate as a result of changes in market interest rates. The Company has no significant interest rate risk due to the short term nature of its interest generating assets. Credit Risk Credit risk is the risk of a loss when a counterparty to a financial instrument fails to meet its contractual obligations. The Company's exposure to credit risk is limited to its cash. The Company limits its exposure to credit risk by holding its cash in deposits with high credit quality Canadian financial institutions. Foreign Currency Risk The Company is exposed to foreign currency risk on fluctuations related to cash, due from related parties and accounts payable and accrued liabilities that are denominated in US dollars. 10% fluctuations in the US dollar against the Canadian dollar have affected comprehensive loss for the nine-month period by approximately $7,110. |
SUPPLEMENTAL CASH FLOW INFORMAT
SUPPLEMENTAL CASH FLOW INFORMATION | 12 Months Ended |
Nov. 30, 2019 | |
Supplemental Cash Flows Information Abstract | |
SUPPLEMENTAL CASH FLOW INFORMATION [Text Block] | 12. SUPPLEMENTAL CASH FLOW INFORMATION During the years ended November 30, 2019, 2018 and 2017, the Company incurred non-cash investing and financing activities as follows: November 30, 2019 November 30, 2018 November 30, 2017 Non-cash financing activities: Fair value of options cancelled and expired $ 59,553 $ - $ - Fair value of options exercised 13,590 50,080 10,907 Fair value of agent warrants granted 127,254 - - Shares issued for options exercised 37,500 - - Shares issued for warrants exercised 187,120 - 49,050 Share issuance costs - 128,995 - Non-cash investing activities: Shares issued for acquisition - 1,399,763 - Shares to be issued for acquisition of inventory 22,800 - - Shares issued for exploration and evaluations assets $ - $ - $ 6,000 |
BUSINESS ACQUISITON
BUSINESS ACQUISITON | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure of detailed information about business combination [abstract] | |
BUSINESS ACQUISITON [Text Block] | 13. BUSINESS ACQUISITION On October 31, 2018, the Company completed the acquisition of private Delaware corporation Plymouth Rock Technologies Inc. ("Plymouth Rock USA") in consideration of the issuance of 3,000,000 common shares of the Company (the "Transaction") at $0.413 per share. The Transaction has been accounted for as a business combination, using the acquisition method. The Financial Statements include the financial statements of the Company and from the date of acquisition its 100% interest in Plymouth Rock USA. To account for the Transaction, the Company determined the fair value of assets and liabilities of Plymouth Rock USA at the date of the acquisition. The purchase price allocation of Plymouth Rock USA is as follows: Consideration Common shares $ 1,240,200 1,240,200 Purchase Price Allocation: Cash 47,467 Prepaid 2,626 Intangible assets: Development assets 304,000 Intellectual and engineering development 936,781 Loan (50,674 ) 1,240,200 Deferred tax liability (253,975 ) Net identifiable assets acquired 986,225 Goodwill 253,975 $ 1,240,200 These fair value assessments require management to make significant estimates and assumptions as well as applying judgement in selecting appropriate valuation techniques. The Company issued 231,250 common shares at $0.69 per share as finder's fees to complete the acquisition and the cost related to acquisition were recognized as an expense in the year ended November 30, 2018. During the year ended November 30, 2019, the Company recognized an impairment of Goodwill amounting to $256,874 which brought down the carrying value of Goodwill to $Nil as at November 30,2019. |
COMMITMENTS
COMMITMENTS | 12 Months Ended |
Nov. 30, 2019 | |
Commitments [Abstract] | |
COMMITMENTS [Text Block] | 14. COMMITMENTS In November 2018, Plymouth Rock USA entered into two-year lease agreement for leased premises in Plymouth, Massachusetts, commencing December 1, 2018 and ending on November 30, 2020. The minimum base rent is US$2,917 per month for the period from December 1, 2018 to November 30, 2019 and US$3,005 per month from December 1, 2019 to November 30, 2020. On April 1, 2019, the Company entered into one-year lease agreement for leased premises in Vancouver, British Columbia, commencing April 1,2019 and ending March 31, 2020. The minimum base rent is $2,500 per month. Total remaining lease payments as of November 30, 2019 are as follows: Plymouth, MA Vancouver, BC US $ CA $ 2019 3,005 2,500 2020 33,055 7,500 Total 36,060 10,000 On October 17, 2019, the Company entered into a binding agreement to acquire the intellectual property, finished goods and inventory and name rights from Massachusetts based aerospace and scientific component manufacturer Aerowave Corporation ("Aerowave"). The acquisition is an asset acquisition. Under the terms of the agreement, Plymouth Rock will pay Aerowave's principals 50,000 common shares. The shares will be restricted securities under the US Securities Act and subject to Canadian securities legislation. The fair value of these shares amounting to $22,811 is presented separately as shares to be issued in the consolidated statements of financial position - equity section. The entire purchase consideration was allocated to finished goods as of the acquisition date. As the Company was not able to sell any of the acquired inventory, and it has no evidence to support the value of these finished goods either, the entire amount has been expensed during the year. |
SEGMENTED INFORMATION
SEGMENTED INFORMATION | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure of operating segments [abstract] | |
SEGMENTED INFORMATION [Text Block] | 15. SEGMENTED INFORMATION The Company operates in one business segment, focusing on developing technologies as described in Note 1. With the sale of the entire mineral interest of the SB Property, the Company no longer pursues the exploration and development of mineral properties. The Company's revenues were generated in the US and were mostly composed of sales of engineering design services and radar components to well-known US government agencies and prime contractors. All the long-lived assets are located in the U.S. as of November 30, 2019 and 2018. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Nov. 30, 2019 | |
Income taxes paid (refund) [abstract] | |
INCOME TAXES [Text Block] | 16. INCOME TAXES The following table reconciles the expected income taxes expense (recovery) at the Canadian statutory income tax rates to the amounts recognized in the statement of operations and comprehensive loss for the years ended November 30, 2019, 2018 and 2017: 2019 2018 2017 Net loss before tax and comprehensive loss $ (4,612,286 ) $ (998,225 ) $ (115,989 ) Statutory tax rate 27.00% 26.92% 26.00% Expected income tax (recovery) (1,245,317 ) (268,689 ) (30,157 ) Non-deductible items 61,781 43,592 - Goodwill impairment 186,864 - - Change in estimates (214,745 ) - - Change in deferred tax assets not recognized 965,938 213,774 30,157 Income tax expense (recovery) $ (245,479 ) $ (11,323 ) $ - Deferred taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their corresponding values for tax purposes. Deferred tax assets (liabilities) at November 30, 2019 and 2018 are comprised of the following: 2018 Tax recovery (expense) Foreign exchange 2019 $ $ $ $ Intangible assets (257,223 ) 256,875 348 - Non-capital losses carryforwards 11,410 (11,396 ) (14 ) - Net deferred tax assets (liability) (245,813 ) 245,479 334 - 2019 2018 Exploration and evaluation assets $ 35,000 $ 61,000 Non-capital loss carryforwards 2,258,584 1,350,310 Net operating losses 1,426,074 - Intangible assets 1,316,280 - Financing costs 74,880 232,465 Capital losses 78,006 - Cumulative eligible capital 270 270 Total unrecognized deductible temporary differences $ 5,189,094 $ 1,644,045 The Company has non-capital loss carryforwards, for which no deferred tax asset has been recognized of approximately $3,684,658 (2018: $1,350,310) which may be carried forward to apply against future income for Canadian and US income tax purposes, subject to the final determination by taxation authorities, expiring in the following years: Expiry 2030 $ 2,937 2031 15,506 2032 57,655 2033 59,622 2034 117,154 2035 122,790 2036 138,822 2037 127,413 2038 675,203 2039 2,367,556 TOTAL $ 3,684,658 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
SUBSEQUENT EVENTS [Text Block] | 17. SUBSEQUENT EVENTS On February 4, 2020, the Company announced that it has arranged a non-brokered private placement financing of up to 10,000,000 units of securities at a price of $0.40 CAD per Unit for aggregate gross proceeds of up to $4,000,000 CAD (the "Offering"). Each Unit will be comprised of one (1) common share and one-half of one (1/2) non-transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.80 CAD for two (2) years from closing of the Offering. The expiry date of the warrants may be accelerated by the Company if the common shares of the Company achieve a volume weighted average trading price greater than $1.00 CAD for ten (10) consecutive trading days, after four months and one day following closing of the Offering. Finders' fees of up to 7.0%, payable in cash or Units, may be payable on a portion of the Offering. On March 16, 2020, due to the instability in the financial markets caused by the COVID-19 pandemic, the Company cancelled this private placement. In March 2020, the World Health Organization declared a global pandemic known as COVID-19. The expected impacts on global commerce are expected to be far reaching. Material uncertainties may come into existence that could influence management's going concern assumption. The duration and impact of the COVID-19 outbreak is unknown at this time and it is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company and its subsidiary, in future periods, such as: This will impact demand for the Company's products and services in the near term and will impact the Company's supply chains. It may also impact the availability of external funding sources during this period. the effect on labour availability due to the severity and the length of potential measures taken by governments to manage the spread of the disease; The management is closely evaluating the impact of COVID-19 on the Company's business. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Nov. 30, 2019 | |
Notes to Financial Statements [Abstract] | |
Basis of presentation [Policy Text Block] | Basis of presentation These consolidated financial statements ("Financial Statements") have been prepared in accordance with IFRS as issued by the International Accounting Standards Board ("IASB") and interpretations of the International Financial Reporting Interpretations Committee ("IFRIC"). These Financial Statements are authorized for issue by the Board of Directors on March 31, 2020. These Financial Statements have been prepared on the historical cost basis. In addition, these Financial Statements have been prepared using the accrual basis of accounting. These Financial Statements are presented in Canadian dollars, which is the Company's functional currency. The functional currency of Plymouth Rock USA is U.S.Dollars. The assets and liabilities of Plymouth Rock USA are translated into Canadian dollars at the rate of exchange prevailing at the reporting date and their income and expense items are translated at average exchange rates for the period. Exchange differences arising on the translation are recognized in other comprehensive income. |
Significant accounting judgments, estimates and assumptions [Policy Text Block] | Significant accounting judgments, estimates and assumptions The preparation of these Financial Statements in conformity with IFRS requires management to make judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the Financial Statements and reported amounts of income and expenses during the period. Actual results could differ from these estimates. Significant estimates used in preparing the Financial Statements include, but are not limited to the following: (i) The calculation of deferred tax is based on the ability of the Company to generate future taxable income, the estimation of which is subject to significant uncertainty as to the amount and timing. The calculatin of deferred tax is also based on assumptions, which are subject to uncertainty as to timing and which tax rates are expected to apply when temporary differences reverse. Deferred tax recorded is also subject to uncertainty regarding the magnitude on non-capital losses available for carry forward and of the balances in various tax pools as the corporate tax return have not been prepared as of the date of financial statement preparation. (ii) The fair value of stock options and finders' warrants issued are subject to the limitations of the Black-Scholes option pricing model that incorporates market data and involves uncertainty in estimates used by management in the assumptions. Because the Black-Scholes option pricing model requires the input of highly subjective assumptions, including the expected lift, volatility of share prices, risk-free rate and dividend yield, changes in subjective input assumptions can materially affect the fair value estimate. (iii) Fair values of identifiable assets acquired and liabilities assumed The estimates of fair values of the identifiable assets acquired and liabilities assumed in a business combination require management to make estimates about the price that could be received to sell the assets acquired or discharge the liabilities assumed. Management uses an appropriate methodology (e.g. market, income or cost approach) to estimate the fair values of identifiable intangible assets acquired. (iv) Impairment of non financial assets Impairment exists when the carrying value of an asset or cash generating unit ("CGU") exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. The fair value less costs to sell calculation is based on available data from binding sales transactions in an arm's length transaction of similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on a discounted cash flow model. At November 30, 2019, the intangible assets acquired and the goodwill generated from the business acquisition determined to be impaired, therefore an impairment loss of $1,572,552 was charged for the 2019 year. Management was unable to project cash flows that can be generated from the CGUs, and consequently a full impairment loss has been recognized. Significant judgments used in the preparation of these Financial Statements include, but are not limited to the following: (i) Going concern Management has applied judgements in the assessment of the Company's ability to continue as a going concern when preparing its Financial Statements for the year ended November 30, 2019. Management prepares the Financial Statements on a going concern basis unless management either intends to liquidate the entity or to cease trading or has no realistic alternative but to do so. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the end of the reporting period. (ii) Business combinations Determination of whether a set of assets acquired and liabilities assumed constitute the acquisition of a business or asset may require the Company to make certain judgments as to whether or not the assets acquired and liabilities assumed include the inputs, processes and outputs necessary to constitute a business as defined in IFRS 3 - Business Combinations. Based on an assessment of the relevant facts and circumstances, the Company concluded that the acquisition disclosed in Note 13 met the criteria for accounting as a business combination. (iii) Intangible assets Intangible assets can be capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. To determine if the future economic benefit is probable depends on the successful commercialization of its technologies and that in turn depends on the management's judgement and knowledge. As at November 30, 2019, the development costs are not capitalized as management was unable to demonstrate the future economic benefits to be generated from the utilization of the associated expenditures. |
Cash [Policy Text Block] | Cash Cash consists of amounts held in banks and cashable highly liquid investments with limited interest and credit risk. |
Consolidations [Policy Text Block] | Consolidation The Financial Statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany balances, transactions and any unrealized gains and losses arising from intercompany transactions, have been eliminated. The Company's subsidiary is as follows: Entity Country of Incorporation Effective Economic Interest Plymouth Rock Technologies Inc. ("Plymouth Rock USA") USA 100% Plymouth Rock USA was incorporated under the General Corporation Law of the State of Delaware on March 22, 2018. |
Intangible assets [Policy Text Block] | Intangible assets Intangible assets that are reflected in the consolidated statements of financial position consist of assets acquired through business combinations. Intangible assets acquired in a business combination are recognized separately from goodwill and are initially recognized at their fair value at the acquisition date (which is regarded as their cost). An intangible asset is regarded as having an indefinite useful life when, based on all relevant factors, there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows. Accordingly, the Company does not amortize these intangible assets, but reviews them for impairment, annually or more frequently if events or changes in circumstances indicate that the assets might be impaired. Development costs for internally-generated intangible assets are capitalized when all of the following conditions are met: technical feasibility can be demonstrated; management has the intention to complete the intangible asset and use it; management can demonstrate the ability to use the intangible asset; it is probable that the intangible asset will generate future economic benefits; the Company can demonstrate the availability of adequate technical, financial and other resources to complete the development and to use the intangible asset; and costs attributable to the asset can be measured reliably. The amount initially recognized for internally-generated intangible assets is the sum of the expenditures incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally-generated intangible asset can be recognized, development expenditures are charged to the consolidated statements of loss and comprehensive loss in the period in which they are incurred. |
Equipment [Policy Text Block] | Equipment Recognition and measurement On initial recognition, equipment is valued at cost, being the purchase price and directly attributable cost of acquisition or construction required to bring the asset to the location and condition necessary to be capable of operating in the manner intended by the Company, including appropriate borrowing costs and the estimated present value of any future unavoidable costs of dismantling and removing the items. The corresponding liability is recognized within provisions. Equipment is subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses. When parts of an item of equipment have different useful lives, they are accounted for as separate items (major components) of equipment. Gains and losses Gains and losses on disposal of an item of equipment are determined by comparing the proceeds from disposal with the carrying amount and are recognized net within other income in profit or loss. Depreciation Half of the normal depreciation is taken in the year of acquisition for equipment with declining balance method. The depreciation rates applicable to each category of property and equipment are as follows: Computer equipment 55% declining balance Furniture 20% declining balance |
Business combinations [Policy Text Block] | Business combinations Business combinations are accounted for using the acquisition method. The cost of the acquisition is measured at the aggregate of the fair values at the date of acquisition, of assets transferred, liabilities incurred or assumed, and equity instruments issued by the Company. The acquiree's identifiable assets and liabilities assumed are recognized at their fair value at the acquisition date. Acquisition related costs are recognized in profit or loss as incurred. The excess of the consideration over the fair value of the net identifiable assets and liabilities acquired is recorded as goodwill. Any gain on a bargain purchase is recorded in profit or loss immediately. Transaction costs are expensed as incurred, except if related to the issue of debt or equity securities. Any goodwill that arises is tested annually for impairment. |
Share capital [Policy Text Block] | Share capital The Company records proceeds from the issuance of its common shares as equity. Proceeds received on the issuance of units, consisting of common shares and warrants are allocated between the common share and warrant component. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the most easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The fair value of the common shares issued in the private placement was determined to be the more easily measurable component and were valued at their fair value, as determined by the closing quoted price on the issuance date. The remaining proceeds, if any, are allocated to the attached warrants. Any fair value attributed to the warrants is recorded as warrant reserve. Management does not expect to record a value to the warrant in most equity issuances as unit private placements are commonly priced at market or at a permitted discount to market. If the warrants are issued as share issuance costs, the fair value of agent's warrants are measured using the Black-Scholes option pricing model and recognized in equity as a deduction from the proceeds. If the warrants are exercised, the related amount is reclassified as share capital. If the warrants expire unexercised, the related amount remains in warrant reserve. Incremental costs directly attributable to the issue of new common shares are shown in equity as a deduction, net of tax, from the proceeds. Common shares issued for consideration other than cash are valued based on their market value at the date that shares are issued. |
Share-based payment [Policy Text Block] | Share-based payment The Company recognizes share-based payment expense for the estimated fair value of equity-based instruments granted to both employees and non-employees. Compensation expense is recognized when the options are granted with the same amount being recorded as contributed surplus. The expense is determined using an option pricing model that takes into account the exercise price, the term of the option, the current share price, the expected volatility of the underlying shares, the expected dividend yield, and the risk-free interest rate for the term of the option. If the options are exercised, contributed surplus will be reduced by the applicable amount. Share-based payment calculations have no effect in the Company's cash position. |
Share purchase warrants [Policy Text Block] | Share purchase warrants The Company bifurcates units consisting of common shares and share purchase warrants using the residual value approach whereby it first measures the common share component of the unit at fair value using market prices as input values and then allocates any residual amount to the warrant component of the unit. The residual value of the warrant component is credited to reserves. When warrants are exercised, the corresponding residual value is transferred from reserves to share capital. If the warrants are issued as share issuance costs, the fair value of agent's warrants are measured using the Black-Scholes option pricing model and recognized in equity as a deduction from the proceeds. |
Earnings / loss per share [Policy Text Block] | Earnings / loss per share Basic earnings (loss) per share are calculated using the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are calculated using the treasury stock method. This method assumes that common shares are issued for the exercise of options, warrants and convertible securities and that the assumed proceeds from the exercise of options, warrants and convertible securities are used to purchase common shares at the average market price during the period. The difference between the number of shares assumed issued and the number of shares assumed purchased is then added to the basic weighted average number of shares outstanding to determine the fully diluted number of common shares outstanding. No exercise or conversion is assumed during the periods in which a net loss is incurred as the effect is anti-dilutive. |
Financial instruments [Policy Text Block] | Financial instruments Financial assets The Company recognizes financial assets when it becomes party to the contractual provisions of the instrument. Financial assets are measured initially at their fair value plus, in the case of financial assets not subsequently measured at fair value through profit or loss, transaction costs that are directly attributable to their acquisition. Transaction costs attributable to the acquisition of financial assets subsequently measured at fair value through profit or loss are expensed in profit or loss when incurred. Subsequent to initial recognition, all financial assets are classified and subsequently measured at amortized cost. Interest income is calculated using the effective interest method and gains or losses arising from impairment, foreign exchange and derecognition are recognized in profit or loss. Financial assets measured at amortized cost are comprised of cash, accounts receivable and due from related parties. The Company reclassifies debt instruments only when its business model for managing those financial assets has changed. Reclassifications are applied prospectively from the reclassification date and any previously recognized gains, losses or interest are not restated. The Company recognizes a loss allowance for the expected credit losses associated with its financial assets. Expected credit losses are measured to reflect a probability-weighted amount, the time value of money, and reasonable and supportable information regarding past events, current conditions and forecasts of future economic conditions. The Company applies the simplified approach for accounts receivable that do not contain a significant financing component. Using the simplified approach, the Company records a loss allowance equal to the expected credit losses resulting from all possible default events over the assets' contractual lifetime. Financial assets are written off when the Company has no reasonable expectations of recovering all or any portion thereof. The Company derecognizes a financial asset when its contractual rights to the cash flows from the financial asset expire. Financial liabilities The Company recognizes a financial liability when it becomes party to the contractual provisions of the instrument. At initial recognition, the Company measures financial liabilities at their fair value plus transaction costs that are directly attributable to their issuance, with the exception of financial liabilities subsequently measured at fair value through profit or loss for which transaction costs are immediately recorded in profit or loss. Subsequent to initial recognition, all financial liabilities are measured at amortized cost using the effective interest rate method. Interest, gains and losses relating to a financial liability are recognized in profit or loss. Financial liabilities measured at amortized cost are comprised of accounts payable, due to related parties, and loan payable. The Company derecognizes a financial liability only when its contractual obligations are discharged, cancelled or expire. Interest Interest income and expense are recognized in profit or loss using the effective interest method. The 'effective interest rate' is the rate that exactly discounts estimated future cash payments over the expected life of the financial instrument to the gross carrying amount of the financial asset or the amortized cost of the financial liability. The effective interest rate is calculated considering all contractual terms of the financial instruments, except for the expected credit losses of financial assets. The 'amortized cost' of a financial asset or financial liability is the amount at which the instrument is measured on initial recognition minus principal repayments, plus or minus any cumulative amortization using the effective interest method of any difference between the initial amount and maturity amount and adjusted for any expected credit loss allowance. The 'gross carrying amount' of a financial asset is the amortized cost of a financial asset before adjusting for any expected credit losses. Interest income and expense is calculated by applying the effective interest rate to the gross carrying amount of the financial asset (when the asset is not credit-impaired) or the amortized cost of the financial liability. Where a financial asset has become credit-impaired subsequent to initial recognition, interest income is calculated in subsequent periods by applying the effective interest method to the amortized cost of the financial asset. If the asset subsequently ceases to be credit-impaired, calculation of interest income reverts to the gross basis. Offsetting Financial assets and financial liabilities are offset, with the net amount presented in the statement of financial position, when, and only when, the Company has a current and legally enforceable right to set off the recognized amounts and intends either to settle on a net basis or realize the asset and settle the liability simultaneously. Income and expenses are presented on a net basis only when permitted under IFRS, or when arising from a group of similar transactions if the resulting income and expenses are not material. |
Goodwill [Policy Text Block] | Goodwill Goodwill is initially measured as the excess of the aggregate of the consideration transferred over the fair value of net identifiable assets acquired and liabilities assumed. Separately recognized goodwill is tested for impairment on an annual basis or when there is an indication of impairment. Impairment losses on goodwill are not reversed. |
Revenue recognition [Policy Text Block] | Revenue recognition Revenue is recognized by applying the five-step model under IFRS 15. The Company recognizes revenue when, or as the goods or services are transferred to the control of the customer and performance obligations are satisfied. The Company's revenue is comprised of sales of its radar systems, radar components and engineering design and development services. The Company's revenue is recognized when control of the goods has been transferred, being when the goods are delivered to customers and when all performance obligations have been fulfilled. The amounts recognized as revenue represent the fair values of the considerations received or receivable from third parties on the sales of goods to customers, net of goods and services taxes and less returns, and discounts, at which time there are no conditions for the payment to become due other than the passage of time. For its engineering design and development services, revenue is recognized when the service has been rendered. |
Income taxes [Policy Text Block] | Income taxes Income tax is recognized in profit or loss except to the extent that it relates to equity items, in which case it is recognized in equity. Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted at period end, adjusted for amendments to tax payable with regards to previous years. Deferred tax is recorded using the liability method, providing for temporary differences, between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences do not result in deferred tax assets or liabilities: goodwill not deductible for tax purposes; the initial recognition of assets or liabilities that affect neither accounting profit (loss) nor taxable profit (loss); and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the financial position date. A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. |
Related party transactions [Policy Text Block] | Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control and related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. |
Change in accounting policies [Policy Text Block] | Change in accounting policies IFRS 9 Financial instruments IFRS 9, Financial Instruments ("IFRS 9") sets out requirements for recognizing and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. This standard replaces IAS 39 Financial Instruments: Recognition and Measurement ("IAS 39"). IFRS 9 largely retains the existing requirements in IAS 39 for the classification and measurement of financial liabilities. However, it eliminates the previous IAS 39 categories for financial assets of held to maturity, loans and receivables and available for sale. The following table presents the initial IAS 39 classification and the new IFRS 9 classification for all financial instruments held by the Company as at December 1, 2018. Original under IAS 39 New under IFRS 9 Financial assets and liabilities Classification Carrying Amount $ Classification Carrying Amount $ Cash FVTPL 2,743,694 Amortized cost 2,743,694 Due from related parties Loans and receivables 7,400 Amortized cost 7,400 Accounts payable Other financial liabilities 112,757 Amortized cost 112,757 Due to related parties Other financial liabilities 3,000 Amortized cost 3,000 Loan payable Other financial liabilities 51,184 Amortized cost 51,184 The adoption of this standard did not have any material impact to the Company's Financial Statements. The Company's policies and procedures surrounding the identification of credit risk and the recognition of credit losses comply with the requirements of this standard. IFRS 15 Revenue from contracts with customers IFRS 15, Revenue from Contracts with Customers ("IFRS 15") was issued to replace IAS 18 Revenue and IAS 11 Construction Contracts and related interpretations such as IFRIC 13 Customer Loyalty Programs. IFRS 15 introduces a single contract-based five-step model that applies to contracts with customers and two approaches for the recognition of revenue: at a point in time or over time. The five steps are: identify the contract(s) with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price, and recognize revenue when the performance obligation is satisfied. Revenue is recognized when a customer obtains control of a good or service and has the ability to direct the use and obtain the benefits from the good or service. The Company has adopted IFRS 15 on the required effective date of December 1, 2018. The adoption of this standard did not have any impact on the Company's financial position as at December 1, 2018 or results of operations for the years ended November 30, 2019 and 2018. |
Accounting standards, amendments and interpretations not yet effective [Policy Text Block] | Accounting standards, amendments and interpretations not yet effective Certain new standards, interpretations and amendments to existing standards have been issued by the IASB or the IFRIC during the year but are not yet effective. Some updates that are not applicable or are not consequential to the Company may have been excluded from the list below. |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Disclosure of subsidiaries [Table Text Block] | Entity Country of Incorporation Effective Economic Interest Plymouth Rock Technologies Inc. ("Plymouth Rock USA") USA 100% |
Disclosure of depreciation rates applicable to each category of property and equipment [Table Text Block] | Computer equipment 55% declining balance Furniture 20% declining balance |
Disclosure of initial IAS 39 classification and IFRS 9 classification for all financial instruments explanatory [Table Text Block] | Original under IAS 39 New under IFRS 9 Financial assets and liabilities Classification Carrying Amount $ Classification Carrying Amount $ Cash FVTPL 2,743,694 Amortized cost 2,743,694 Due from related parties Loans and receivables 7,400 Amortized cost 7,400 Accounts payable Other financial liabilities 112,757 Amortized cost 112,757 Due to related parties Other financial liabilities 3,000 Amortized cost 3,000 Loan payable Other financial liabilities 51,184 Amortized cost 51,184 |
PREPAID EXPENSES (Tables)
PREPAID EXPENSES (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure Of Detail Information About Prepaid Expenses [Abstract] | |
Disclosure of prepaid expenses [Table Text Block] | November 30, 2019 November 30, 2018 Advertising and Promotions $ 38,146 $ 15,000 Rent 17,043 16,765 Others 50,350 18,126 $ 105,539 $ 49,891 |
EQUIPMENT (Tables)
EQUIPMENT (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Property, plant and equipment [abstract] | |
Disclosure of property, plant and equipment [Table Text Block] | Computer Furniture Total $ $ $ Cost: Balance at November 30, 2018 - - - Additions 1,720 12,453 14,173 Foreign currency translation adjustment 6 2 8 Balance at November 30, 2019 1,726 12,455 14,181 Accumulated Depreciation: Balance at November 30, 2018 - - - Depreciation 474 1,245 1,719 Foreign currency translation adjustment (1 ) (1 ) (2 ) Balance at November 30, 2019 473 1,244 1,717 Net Book Value: At November 30, 2018 - - - At November 30, 2019 1,253 11,211 12,464 |
INTANGIBLE ASSETS AND GOODWILL
INTANGIBLE ASSETS AND GOODWILL (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Intangible assets and goodwill [abstract] | |
Disclosure of detailed information about intangible assets [Table Text Block] | Drone X1 System Shoe-Scanner Wi-Ti Total $ $ $ $ Cost: Balance at November 30, 2017 - - - - Additions 868,547 - 372,234 1,240,781 Balance at November 30, 2018 868,547 - 372,234 1,240,781 Additions - 30,000 - 30,000 Impairment (900,260 ) (29,592 ) (385,826 ) (1,315,678 ) Foreign currency translation adjustment 31,713 (408 ) 13,592 44,897 Balance at November 30, 2019 - - - - |
ACCOUNTS PAYABLE (Tables)
ACCOUNTS PAYABLE (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure Of Detail Information About Accounts Payable [Abstract] | |
Disclosure of accounts payable [Table Text Block] | November 30, 2019 November 30, 2018 Professional fees $ 80,216 $ 32,000 Funds to be returned to investors 38,646 38,646 Advertising costs 8,556 3,436 Development costs 42,430 13,301 Others 47,174 25,374 $ 217,023 $ 112,757 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Related party transactions [abstract] | |
Disclosure of amounts due to officers [Table Text Block] | November 30, 2019 November 30, 2018 Company controlled by CFO $ 5,000 $ 3,000 CEO of the Company 5,035 $ - $ 10,035 $ 3,000 |
Disclosure Of Due From Related Party Explanatory [Table Text Block] | November 30, 2019 November 30, 2018 Company controlled by Corporate Secretary $ 5,250 $ 5,613 CEO of the Company - 1,787 Director 19,820 - $ 25,070 $ 7,400 |
Disclosure of transactions between related parties [Table Text Block] | November 30, 2019 November 30, 2018 November 30, 2017 Management fees $ 123,000 $ 71,842 $ 13,500 Accounting fees 24,490 20,748 - Share-based payments 260,145 - - Salaries and benefits to CEO 318,790 13,200 - $ 726,425 $ 105,790 $ 13,500 |
Disclosure of information about key management personnel [Table Text Block] | November 30, 2019 Number of options granted Expense for the period CEO 400,000 $ 113,077 CFO 100,000 28,269 Corporate Secretary 100,000 28,269 Directors 750,000 90,530 1,350,000 $ 260,145 |
Disclosure of management fees explanatory [Table Text Block] | November 30, 2019 November 30, 2018 November 30, 2017 Company controlled by Corporate Secretary $ 63,000 $ 36,842 $ 13,500 Company controlled by CFO 60,000 30,000 - Director fees paid to Former Director - 5,000 - $ 123,000 $ 71,842 $ 13,500 |
SHARE CAPITAL (Tables)
SHARE CAPITAL (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure of classes of share capital [abstract] | |
Disclosure of number and weighted average exercise prices of share options [Table Text Block] | Number of Weighted Average Options Exercise Price Balance, November 30, 2016 875,000 $0.16 Exercised (125,000 ) $0.15 Balance, November 30, 2017 750,000 $0.17 Exercised (625,000 ) $0.14 Balance, November 30, 2018 125,000 $0.30 Granted 3,300,000 $0.58 Exercised (125,000 ) $0.30 Cancelled (150,000 ) $0.60 Balance, November 30, 2019 3,150,000 $0.58 |
Disclosure of number and weighted average remaining contractual life of outstanding share options [Table Text Block] | Expiry Date Exercise Price Numbers of options outstanding Numbers of options exercisable Weighted average remaining contractual life (year) Weighted average exercise price $ $ January 15, 2024 0.60 2,150,000 - 2.82 0.60 March 20, 2024 0.60 350,000 - 0.48 0.60 November 28, 2024 0.50 650,000 - 1.03 0.50 3,150,000 - 4.33 0.58 |
Disclosure of share purchase warrant transactions [Table Text Block] | Number of Warrants Weighted Average Exercise Price Balance, November 30, 2017 and 2016 2,640,000 $ 0.10 Warrants granted 3,567,275 $ 0.58 Warrants exercised (2,045,000 ) $ 0.10 Balance, November 30, 2018 4,162,275 $ 0.51 Warrants expired (3,251,975 ) $ 0.60 Warrants exercised (910,300 ) $ 0.21 Balance, November 30, 2019 - $ - |
SUPPLEMENTAL CASH FLOW INFORM_2
SUPPLEMENTAL CASH FLOW INFORMATION (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Supplemental Cash Flows Information Abstract | |
Disclosure of supplemental cash flow information [Table Text Block] | November 30, 2019 November 30, 2018 November 30, 2017 Non-cash financing activities: Fair value of options cancelled and expired $ 59,553 $ - $ - Fair value of options exercised 13,590 50,080 10,907 Fair value of agent warrants granted 127,254 - - Shares issued for options exercised 37,500 - - Shares issued for warrants exercised 187,120 - 49,050 Share issuance costs - 128,995 - Non-cash investing activities: Shares issued for acquisition - 1,399,763 - Shares to be issued for acquisition of inventory 22,800 - - Shares issued for exploration and evaluations assets $ - $ - $ 6,000 |
BUSINESS ACQUISITON (Tables)
BUSINESS ACQUISITON (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure of detailed information about business combination [abstract] | |
Disclosure of detailed information about business combination [Table Text Block] | Consideration Common shares $ 1,240,200 1,240,200 Purchase Price Allocation: Cash 47,467 Prepaid 2,626 Intangible assets: Development assets 304,000 Intellectual and engineering development 936,781 Loan (50,674 ) 1,240,200 Deferred tax liability (253,975 ) Net identifiable assets acquired 986,225 Goodwill 253,975 $ 1,240,200 |
COMMITMENTS (Tables)
COMMITMENTS (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Commitments [Abstract] | |
Disclosure of commitments [Table Text Block] | Plymouth, MA Vancouver, BC US $ CA $ 2019 3,005 2,500 2020 33,055 7,500 Total 36,060 10,000 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Nov. 30, 2019 | |
Income taxes paid (refund) [abstract] | |
Disclosure of detailed information about effective income tax expense (recovery) [Table Text Block] | 2019 2018 2017 Net loss before tax and comprehensive loss $ (4,612,286 ) $ (998,225 ) $ (115,989 ) Statutory tax rate 27.00% 26.92% 26.00% Expected income tax (recovery) (1,245,317 ) (268,689 ) (30,157 ) Non-deductible items 61,781 43,592 - Goodwill impairment 186,864 - - Change in estimates (214,745 ) - - Change in deferred tax assets not recognized 965,938 213,774 30,157 Income tax expense (recovery) $ (245,479 ) $ (11,323 ) $ - |
Disclosure of deferred taxes [Table Text Block] | 2018 Tax recovery (expense) Foreign exchange 2019 $ $ $ $ Intangible assets (257,223 ) 256,875 348 - Non-capital losses carryforwards 11,410 (11,396 ) (14 ) - Net deferred tax assets (liability) (245,813 ) 245,479 334 - |
Disclosure of temporary difference, unused tax losses and unused tax credits [Table Text Block] | 2019 2018 Exploration and evaluation assets $ 35,000 $ 61,000 Non-capital loss carryforwards 2,258,584 1,350,310 Net operating losses 1,426,074 - Intangible assets 1,316,280 - Financing costs 74,880 232,465 Capital losses 78,006 - Cumulative eligible capital 270 270 Total unrecognized deductible temporary differences $ 5,189,094 $ 1,644,045 |
Disclosure of non-capital loss carryforwards [Table Text Block] | Expiry 2030 $ 2,937 2031 15,506 2032 57,655 2033 59,622 2034 117,154 2035 122,790 2036 138,822 2037 127,413 2038 675,203 2039 2,367,556 TOTAL $ 3,684,658 |
NATURE OF OPERATIONS AND ABIL_2
NATURE OF OPERATIONS AND ABILITY TO CONTINUE AS A GOING CONCERN (Narrative) (Details) - CAD ($) | 12 Months Ended | ||
Nov. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | |
Nature Of Operations And Ability To Continue As Going Concern Abstract | |||
Net loss | $ 4,366,807 | $ 986,901 | $ 115,989 |
Accumulated deficit | 5,968,892 | 1,602,085 | |
Net cash proceeds pursuant to financing activities | $ 171,554 | $ 3,248,840 |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) | 12 Months Ended |
Nov. 30, 2019CAD ($) | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Impairment loss | $ 1,572,552 |
PREPAID EXPENSES (Narrative) (D
PREPAID EXPENSES (Narrative) (Details) | Nov. 30, 2019CAD ($) | Nov. 30, 2018USD ($) |
Disclosure Of Detail Information About Prepaid Expenses [Abstract] | ||
Prepayment to related parties | $ 39,867 |
INTANGIBLE ASSETS AND GOODWIL_2
INTANGIBLE ASSETS AND GOODWILL (Narrative) (Detail) | 12 Months Ended |
Nov. 30, 2019CAD ($) | |
Intangible assets and goodwill [abstract] | |
Impairment loss | $ 1,315,678 |
Development Cost | $ 399,720 |
RELATED PARTY TRANSACTIONS (Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) | 12 Months Ended | ||
Nov. 30, 2019CAD ($)share | Nov. 30, 2018CAD ($) | Nov. 30, 2017CAD ($) | |
Disclosure of transactions between related parties [line items] | |||
Due to directors and officers | $ 10,035 | $ 3,000 | |
Due from directors and officers | $ 25,070 | 7,400 | |
Number of options granted | share | 3,300,000 | ||
Expense for the period | $ 692,091 | ||
CEO [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Prepayment to related party | 26,578 | ||
SVP for Engineering Operations [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Prepayment to related party | $ 13,289 | ||
Related parties [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Number of options granted | share | 1,350,000 | ||
Expense for the period | $ 260,145 | $ 0 | $ 0 |
LOAN PAYABLE (Narrative) (Detai
LOAN PAYABLE (Narrative) (Details) | Sep. 19, 2018CAD ($) |
Disclosure of detailed information about borrowings [abstract] | |
Loan received | $ 50,000 |
Annual interest rate | 12.00% |
SHARE CAPITAL (Narrative) (Deta
SHARE CAPITAL (Narrative) (Details) | Nov. 01, 2018$ / sharesshares | Nov. 12, 2014 | Nov. 29, 2019CAD ($)shareYear | Mar. 21, 2019CAD ($)shareYear | Jan. 16, 2019CAD ($)shareYear | Oct. 31, 2018$ / sharesshares | Aug. 23, 2018CAD ($)share | May 29, 2018CAD ($)share | May 18, 2018CAD ($)shareFinder$ / shares | Apr. 25, 2018CAD ($)shareFinder$ / shares | Nov. 28, 2017CAD ($)share | Feb. 15, 2017CAD ($)shares | Nov. 30, 2019CAD ($)shareYear$ / sharesshares | Nov. 30, 2018CAD ($)share$ / sharesshares | Nov. 30, 2017CAD ($)share$ / sharesshares | Nov. 30, 2016shares |
Disclosure of classes of share capital [line items] | ||||||||||||||||
Warrants exercised | shares | 910,300 | 2,045,000 | ||||||||||||||
Proceeds from warrants exercised | $ 187,120 | $ 204,500 | ||||||||||||||
Weighted average exercise price of warrants exercised | $ / shares | $ 0.21 | $ 0.10 | ||||||||||||||
Number of share options exercised | share | 500,000 | 125,000 | 125,000 | 125,000 | 625,000 | 125,000 | ||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.10 | $ 0.30 | $ 0.15 | $ 0.30 | $ 0.14 | $ 0.15 | ||||||||||
Proceeds from exercise of options | $ 50,000 | $ 37,500 | $ 18,750 | 18,750 | ||||||||||||
Shares issued for exploration and evaluation assets | 6,000 | |||||||||||||||
Subscription receivable | $ 428,000 | |||||||||||||||
Shares held in escrow | shares | 810,000 | 3,000,000 | ||||||||||||||
Exercise price of warrants granted | $ / shares | $ 0.58 | |||||||||||||||
Number of warrants granted | share | 3,567,275 | |||||||||||||||
Percentage of common shares reserved for issuance | 10.00% | |||||||||||||||
Number of stock options granted | share | 3,300,000 | |||||||||||||||
Exercise price of stock options granted | $ 0.58 | |||||||||||||||
Remaining contractual life of stock option | Year | 4.33 | |||||||||||||||
Number of Options Cancelled | share | 150,000 | |||||||||||||||
Stock-based compensation recognized in profit or loss | $ 692,091 | |||||||||||||||
Exercise Price 0.60 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Warrants exercised | shares | 7,500 | |||||||||||||||
Weighted average exercise price of warrants exercised | $ / shares | $ 0.60 | |||||||||||||||
Exercise Price 0.40 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Warrants exercised | shares | 307,800 | |||||||||||||||
Weighted average exercise price of warrants exercised | $ / shares | $ 0.40 | |||||||||||||||
Exercise Price 0.10 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Warrants exercised | shares | 595,000 | |||||||||||||||
Weighted average exercise price of warrants exercised | $ / shares | $ 0.10 | |||||||||||||||
Exercise Price 0.30 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of share options exercised | share | 125,000 | |||||||||||||||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 0.30 | |||||||||||||||
Proceeds from exercise of options | $ 37,500 | |||||||||||||||
Directors Officers Employee And Consultants [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 2,300,000 | |||||||||||||||
Exercise price of stock options granted | $ 0.60 | |||||||||||||||
Remaining contractual life of stock option | Year | 5 | |||||||||||||||
Number of Options Cancelled | share | 150,000 | |||||||||||||||
Stock price | $ 0.54 | |||||||||||||||
Volatility | 100.00% | |||||||||||||||
Risk-free rate | 1.93% | |||||||||||||||
Dividend yield | 0.00% | |||||||||||||||
Expected life | Year | 5 | |||||||||||||||
Fair value of stock option | $ 913,140 | |||||||||||||||
Consultant [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 350,000 | |||||||||||||||
Exercise price of stock options granted | $ 0.60 | |||||||||||||||
Remaining contractual life of stock option | Year | 5 | |||||||||||||||
Stock price | $ 0.57 | |||||||||||||||
Volatility | 100.00% | |||||||||||||||
Risk-free rate | 1.56% | |||||||||||||||
Dividend yield | 0.00% | |||||||||||||||
Expected life | Year | 5 | |||||||||||||||
Fair value of stock option | $ 147,613 | |||||||||||||||
Consultant And Director [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 650,000 | |||||||||||||||
Exercise price of stock options granted | $ 0.50 | |||||||||||||||
Remaining contractual life of stock option | Year | 5 | |||||||||||||||
Stock price | $ 0.49 | |||||||||||||||
Volatility | 100.00% | |||||||||||||||
Risk-free rate | 1.49% | |||||||||||||||
Dividend yield | 0.00% | |||||||||||||||
Expected life | Year | 5 | |||||||||||||||
Fair value of stock option | $ 236,809 | |||||||||||||||
Private Placements [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Share issued for private placement, shares | shares | 5,500,000 | |||||||||||||||
Equity issuance, price per share | $ / shares | $ 0.10 | |||||||||||||||
Shares issued for private placement, value | $ 550,000 | |||||||||||||||
Shares issued for finder's fees, shares | shares | 490,500 | |||||||||||||||
Shares issued for finder's fees, value | $ 49,050 | |||||||||||||||
First Tranche [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of units issued for private placement | share | 4,475,000 | |||||||||||||||
Price per unit issued | $ / shares | 0.40 | |||||||||||||||
Proceeds from units issued | $ 1,790,000 | |||||||||||||||
Exercise price of warrants granted | $ / shares | $ 0.60 | |||||||||||||||
First Tranche [Member] | Finder's Fees [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Percentage of finders fees of cash | 6.00% | |||||||||||||||
Percentage of number of warrant units issued | 6.00% | |||||||||||||||
Number of finders involved in private placement | Finder | 5 | |||||||||||||||
Warrants granted, exercisable period | 1 year | |||||||||||||||
Exercise price of warrants granted | $ / shares | $ 0.40 | |||||||||||||||
Number of warrants granted | share | 266,850 | |||||||||||||||
Warrants granted at estimated fair value | $ 110,574 | |||||||||||||||
Fair value of warrants, expected life | 1 year | |||||||||||||||
Fair value of warrants estimated price volatility rate | 166.00% | |||||||||||||||
Fair value of warrants estimated risk free rate | 1.88% | |||||||||||||||
Fair value of warrants estimated dividend yield rate | 0.00% | |||||||||||||||
Second Tranche [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of units issued for private placement | share | 2,035,550 | |||||||||||||||
Price per unit issued | $ / shares | 0.40 | |||||||||||||||
Proceeds from units issued | $ 814,220 | |||||||||||||||
Exercise price of warrants granted | $ / shares | $ 0.60 | |||||||||||||||
Second Tranche [Member] | Finder's Fees [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Percentage of finders fees of cash | 6.00% | |||||||||||||||
Percentage of number of warrant units issued | 6.00% | |||||||||||||||
Number of finders involved in private placement | Finder | 4 | |||||||||||||||
Warrants granted, exercisable period | 1 year | |||||||||||||||
Exercise price of warrants granted | $ / shares | $ 0.40 | |||||||||||||||
Number of warrants granted | share | 45,150 | |||||||||||||||
Warrants granted at estimated fair value | $ 18,420 | |||||||||||||||
Fair value of warrants, expected life | 1 year | |||||||||||||||
Fair value of warrants estimated price volatility rate | 168.00% | |||||||||||||||
Fair value of warrants estimated risk free rate | 1.99% | |||||||||||||||
Fair value of warrants estimated dividend yield rate | 0.00% | |||||||||||||||
Subscription received reclassified to accounts payable and accrued liabilities | $ 38,646 | |||||||||||||||
Options Vesting January 15, 2020 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 1,075,000 | |||||||||||||||
Options Vesting April 15, 2020 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 268,750 | |||||||||||||||
Options Vesting July 15, 2020 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 268,750 | |||||||||||||||
Options Vesting October 15, 2020 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 268,750 | |||||||||||||||
Options Vesting January 15, 2021 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 268,750 | |||||||||||||||
Options Vesting March 20, 2020 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 175,000 | |||||||||||||||
Options Vesting June 20, 2020 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 43,750 | |||||||||||||||
Options Vesting December 20, 2020 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 43,750 | |||||||||||||||
Options Vesting March 20, 2021 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 43,750 | |||||||||||||||
Options Vesting June 20, 2021 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 43,750 | |||||||||||||||
Options Vesting November 30, 2020 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 325,000 | |||||||||||||||
Options Vesting November 30, 2021 [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of stock options granted | share | 325,000 | |||||||||||||||
Plymouth Rock USA [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Shares issued for acquisition (Shares) | shares | 3,000,000 | |||||||||||||||
Equity issuance, price per share | $ / shares | $ 0.69 | $ 0.413 | ||||||||||||||
Finder's fee for acquisition | shares | 231,250 | |||||||||||||||
Share capital [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of shares issued and outstanding | shares | 32,796,600 | 31,761,300 | 19,349,500 | 12,934,000 | ||||||||||||
Proceeds from warrants exercised | $ 187,120 | $ 204,500 | ||||||||||||||
Number of share options exercised | share | 125,000 | |||||||||||||||
Shares issued for acquisition (Shares) | shares | 3,000,000 | |||||||||||||||
Shares issued for exploration and evaluation assets (Shares) | shares | 300,000 | 300,000 | ||||||||||||||
Shares issued for exploration and evaluation assets | $ 6,000 | $ 6,000 |
FINANCIAL RISK MANAGEMENT (Narr
FINANCIAL RISK MANAGEMENT (Narrative) (Details) - Foreign Currency Risk [Member] | 12 Months Ended |
Nov. 30, 2019CAD ($) | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |
Potential fluctuations in functional currency exchange rate | 10.00% |
Comprehensive loss due to fluctuations in US dollar against the Canadian dollar | $ 7,110 |
BUSINESS ACQUISITON (Narrative)
BUSINESS ACQUISITON (Narrative) (Details) - CAD ($) | Nov. 01, 2018 | Oct. 31, 2018 | Nov. 30, 2019 | Nov. 30, 2018 |
Disclosure of detailed information about business combination [line items] | ||||
Impairment of Goodwill | $ 256,874 | |||
Carrying value of Goodwill | $ 253,975 | |||
Plymouth Rock USA [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Shares issued for acquisition (Shares) | 3,000,000 | |||
Equity issuance, price per share | $ 0.69 | $ 0.413 | ||
Finder's fee for acquisition (Shares) | 231,250 | |||
Acquisition interest | 100.00% |
COMMITMENTS (Narrative) (Detail
COMMITMENTS (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |
Oct. 17, 2019CAD ($)shares | Nov. 30, 2019CAD ($) | Nov. 30, 2018USD ($) | |
Disclosure of maturity analysis of operating lease payments [line items] | |||
Shares to be issued | $ 22,811 | ||
December 1, 2018 to November 30, 2019 [Member] | Plymouth, Massachusetts [Member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Minimum rent to be paid for lease agreements per month | $ 2,917 | ||
December 1, 2019 to November 30, 2020 [Member] | Plymouth, Massachusetts [Member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Minimum rent to be paid for lease agreements per month | $ 3,005 | ||
April 1,2019 and ending March 31, 2020 [Member] | Vancouver, British Columbia [Member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Minimum rent to be paid for lease agreements per month | $ 2,500 | ||
Aerowave Corporation ("Aerowave") [Member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Common stock, shares to be issued for asset acquisition | shares | 50,000 | ||
Shares to be issued | $ 22,811 |
INCOME TAXES (Narrative) (Detai
INCOME TAXES (Narrative) (Details) - CAD ($) | 12 Months Ended | ||
Nov. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | |
Income taxes paid (refund) [abstract] | |||
Statutory tax rate | 27.00% | 26.92% | 26.00% |
Non-capital losses carryforwards | $ 3,684,658 | $ 1,350,310 |
SUBSEQUENT EVENTS (Narrative) (
SUBSEQUENT EVENTS (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |
Feb. 04, 2020CAD ($)share | Feb. 04, 2020$ / shares | Nov. 30, 2018$ / shares | |
Disclosure of non-adjusting events after reporting period [line items] | |||
Weighted average exercise price of warrants granted | $ 0.58 | ||
Subsequent Events [Member] | Private Placements [Member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Price per unit issued | 0.40 | ||
Weighted average exercise price of warrants granted | $ 0.80 | ||
Finders fees payable in cash or units | 7.00% | ||
Term of offering | 2 years | ||
Subsequent Events [Member] | Private Placements [Member] | Top of range [member] | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of units issued for private placement | share | 10,000,000 | ||
Proceeds from units issued | $ | $ 4,000,000 |
SIGNIFICANT ACCOUNTING POLICI_5
SIGNIFICANT ACCOUNTING POLICIES - Disclosure of subsidiaries (Details) - Plymouth Rock USA [Member] | 12 Months Ended |
Nov. 30, 2019 | |
Disclosure of subsidiaries [line items] | |
Country of Incorporation | USA |
Effective Economic Interest | 100.00% |
SIGNIFICANT ACCOUNTING POLICI_6
SIGNIFICANT ACCOUNTING POLICIES - Disclosure of depreciation rates applicable to each category of property and equipment (Detail) | 12 Months Ended |
Nov. 30, 2019 | |
Computer equipment [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method | Declining balance |
Depreciation rates | 55% |
Furniture [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method | Declining balance |
Depreciation rates | 20% |
SIGNIFICANT ACCOUNTING POLICI_7
SIGNIFICANT ACCOUNTING POLICIES - Disclosure of initial IAS 39 classification and the new IFRS 9 classification for all financial instruments (Details) - CAD ($) | Nov. 30, 2019 | Nov. 30, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Cash | $ 583,119 | $ 2,743,694 |
Due from related parties | 25,070 | 7,400 |
Accounts payable | 217,023 | 112,757 |
Due to related parties | $ 10,035 | 3,000 |
Loan payable | 51,184 | |
Original under IAS 39 [Member] | FVTPL [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Cash | 2,743,694 | |
Original under IAS 39 [Member] | Loans And Receivables [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Due from related parties | 7,400 | |
Original under IAS 39 [Member] | Other Financial Liabilities [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Accounts payable | 112,757 | |
Due to related parties | 3,000 | |
Loan payable | 51,184 | |
New under IFRS 9 [Member] | Amortized Cost [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Cash | 2,743,694 | |
Due from related parties | 7,400 | |
Accounts payable | 112,757 | |
Due to related parties | 3,000 | |
Loan payable | $ 51,184 |
PREPAID EXPENSES - Disclosure o
PREPAID EXPENSES - Disclosure of prepaid expenses (Details) - CAD ($) | Nov. 30, 2019 | Nov. 30, 2018 |
Prepaid Expenses [Line Items] | ||
Prepaid expenses | $ 105,539 | $ 49,891 |
Advertising And Promotions [Member] | ||
Prepaid Expenses [Line Items] | ||
Prepaid expenses | 38,146 | 15,000 |
Rent [Member] | ||
Prepaid Expenses [Line Items] | ||
Prepaid expenses | 17,043 | 16,765 |
Others [Member] | ||
Prepaid Expenses [Line Items] | ||
Prepaid expenses | $ 50,350 | $ 18,126 |
EQUIPMENT - Disclosure of equip
EQUIPMENT - Disclosure of equipment (Details) | 12 Months Ended |
Nov. 30, 2019CAD ($) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | $ 0 |
Ending balance | 12,464 |
Cost [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Additions | 14,173 |
Foreign currency translation adjustment | 8 |
Ending balance | 14,181 |
Accumulated Depreciation [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Depreciation | 1,719 |
Foreign currency translation adjustment | (2) |
Ending balance | 1,717 |
Computer [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Ending balance | 1,253 |
Computer [Member] | Cost [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Additions | 1,720 |
Foreign currency translation adjustment | 6 |
Ending balance | 1,726 |
Computer [Member] | Accumulated Depreciation [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Depreciation | 474 |
Foreign currency translation adjustment | (1) |
Ending balance | 473 |
Furniture [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Ending balance | 11,211 |
Furniture [Member] | Cost [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Additions | 12,453 |
Foreign currency translation adjustment | 2 |
Ending balance | 12,455 |
Furniture [Member] | Accumulated Depreciation [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Beginning balance | 0 |
Depreciation | 1,245 |
Foreign currency translation adjustment | (1) |
Ending balance | $ 1,244 |
INTANGIBLE ASSETS AND GOODWIL_3
INTANGIBLE ASSETS AND GOODWILL - Disclosure of detailed information about Intangible assets (Details) - CAD ($) | 12 Months Ended | |
Nov. 30, 2019 | Nov. 30, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | $ 1,240,781 | $ 0 |
Additions | 30,000 | 1,240,781 |
Impairment | (1,315,678) | |
Foreign currency translation adjustment | 44,897 | |
Ending balance | 0 | 1,240,781 |
Drone X1 System [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 868,547 | 0 |
Additions | 0 | 868,547 |
Impairment | (900,260) | |
Foreign currency translation adjustment | 31,713 | |
Ending balance | 0 | 868,547 |
Shoe Scanner [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 0 | 0 |
Additions | 30,000 | 0 |
Impairment | (29,592) | |
Foreign currency translation adjustment | (408) | |
Ending balance | 0 | 0 |
Wi Ti [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning balance | 372,234 | 0 |
Additions | 0 | 372,234 |
Impairment | (385,826) | |
Foreign currency translation adjustment | 13,592 | |
Ending balance | $ 0 | $ 372,234 |
ACCOUNTS PAYABLE - Disclosure o
ACCOUNTS PAYABLE - Disclosure of detailed information about accounts payable (Details) - CAD ($) | Nov. 30, 2019 | Nov. 30, 2018 |
Trade And Other Payable [Line Items] | ||
Accounts payable | $ 217,023 | $ 112,757 |
Professional Fees [Member] | ||
Trade And Other Payable [Line Items] | ||
Accounts payable | 80,216 | 32,000 |
Funds To Be Returned To Investors [Member] | ||
Trade And Other Payable [Line Items] | ||
Accounts payable | 38,646 | 38,646 |
Advertising Costs [Member] | ||
Trade And Other Payable [Line Items] | ||
Accounts payable | 8,556 | 3,436 |
Development Costs [Member] | ||
Trade And Other Payable [Line Items] | ||
Accounts payable | 42,430 | 13,301 |
Other [Member] | ||
Trade And Other Payable [Line Items] | ||
Accounts payable | $ 47,174 | $ 25,374 |
RELATED PARTY TRANSACTIONS - Di
RELATED PARTY TRANSACTIONS - Disclosure of amounts due to officers (Details) - CAD ($) | Nov. 30, 2019 | Nov. 30, 2018 |
Disclosure of transactions between related parties [line items] | ||
Due to related parties | $ 10,035 | $ 3,000 |
Company controlled by CFO [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Due to related parties | 5,000 | 3,000 |
CEO of the Company [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Due to related parties | $ 5,035 | $ 0 |
RELATED PARTY TRANSACTIONS - _2
RELATED PARTY TRANSACTIONS - Disclosure of amounts due from directors and officers of the Company (Details) - CAD ($) | Nov. 30, 2019 | Nov. 30, 2018 |
Disclosure of transactions between related parties [line items] | ||
Due from related parties | $ 25,070 | $ 7,400 |
Company controlled by Corporate Secretary [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Due from related parties | 5,250 | 5,613 |
CEO of the Company [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Due from related parties | 0 | 1,787 |
Director [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Due from related parties | $ 19,820 | $ 0 |
RELATED PARTY TRANSACTIONS - _3
RELATED PARTY TRANSACTIONS - Disclosure of transactions between related parties (Details) - CAD ($) | 12 Months Ended | ||
Nov. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | |
Disclosure of transactions between related parties [line items] | |||
Management fees | $ 125,390 | $ 71,842 | $ 13,500 |
Accounting fees | 80,415 | 66,463 | 19,920 |
Share-based payments | 692,091 | ||
Related parties [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Management fees | 123,000 | 71,842 | 13,500 |
Accounting fees | 24,490 | 20,748 | 0 |
Share-based payments | 260,145 | 0 | 0 |
Salaries and benefits to CEO | 318,790 | 13,200 | 0 |
Transactions with related parties | $ 726,425 | $ 105,790 | $ 13,500 |
RELATED PARTY TRANSACTIONS - _4
RELATED PARTY TRANSACTIONS - Disclosure of information about options granted to the CEO, CFO, the Corporate Secretary, and the Company's directors (Details) | 12 Months Ended | ||
Nov. 30, 2019CAD ($)share | Nov. 30, 2018CAD ($) | Nov. 30, 2017CAD ($) | |
Disclosure of transactions between related parties [line items] | |||
Number of options granted | share | 3,300,000 | ||
Expense for the period | $ | $ 692,091 | ||
CEO [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Number of options granted | share | 400,000 | ||
Expense for the period | $ | $ 113,077 | ||
CFO [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Number of options granted | share | 100,000 | ||
Expense for the period | $ | $ 28,269 | ||
Corporate Secretary [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Number of options granted | share | 100,000 | ||
Expense for the period | $ | $ 28,269 | ||
Directors [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Number of options granted | share | 750,000 | ||
Expense for the period | $ | $ 90,530 | ||
Related parties [member] | |||
Disclosure of transactions between related parties [line items] | |||
Number of options granted | share | 1,350,000 | ||
Expense for the period | $ | $ 260,145 | $ 0 | $ 0 |
RELATED PARTY TRANSACTIONS - _5
RELATED PARTY TRANSACTIONS - Disclosure of information about key management personnel (Details) - CAD ($) | 12 Months Ended | ||
Nov. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | |
Disclosure of transactions between related parties [line items] | |||
Management fees | $ 125,390 | $ 71,842 | $ 13,500 |
Company controlled by Corporate Secretary [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Management fees | 63,000 | 36,842 | 13,500 |
Company controlled by CFO [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Management fees | 60,000 | 30,000 | 0 |
Director fees paid to Former Director [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Management fees | 0 | 5,000 | 0 |
Related parties [member] | |||
Disclosure of transactions between related parties [line items] | |||
Management fees | $ 123,000 | $ 71,842 | $ 13,500 |
SHARE CAPITAL - Disclosure of n
SHARE CAPITAL - Disclosure of number and weighted average exercise prices of share options (Details) | 1 Months Ended | 12 Months Ended | ||||
Aug. 23, 2018CAD ($)share | May 29, 2018CAD ($)share | Nov. 28, 2017CAD ($)share | Nov. 30, 2019CAD ($)share | Nov. 30, 2018CAD ($)share | Nov. 30, 2017CAD ($)share | |
Disclosure of classes of share capital [abstract] | ||||||
Number of Options outstanding, beginning balance | share | 125,000 | 750,000 | 875,000 | |||
Weighted Average Exercise Price, beginning balance | $ | $ 0.30 | $ 0.17 | $ 0.16 | |||
Number of stock options granted | share | 3,300,000 | |||||
Exercise price of stock options granted | $ | $ 0.58 | |||||
Number of Options Exercised | share | (500,000) | (125,000) | (125,000) | (125,000) | (625,000) | (125,000) |
Weighted average exercise price of share options exercised in share-based payment arrangement | $ | $ 0.10 | $ 0.30 | $ 0.15 | $ 0.30 | $ 0.14 | $ 0.15 |
Number of Options Cancelled | share | (150,000) | |||||
Weighted Average Exercise Price Cancelled | $ | $ 0.60 | |||||
Number of Options outstanding, ending balance | share | 3,150,000 | 125,000 | 750,000 | |||
Weighted Average Exercise Price, ending balance | $ | $ 0.58 | $ 0.30 | $ 0.17 |
SHARE CAPITAL - Disclosure of_2
SHARE CAPITAL - Disclosure of number and weighted average remaining contractual life of outstanding share options (Details) | Nov. 30, 2019CAD ($)shareYear | Nov. 30, 2018share | Nov. 30, 2017share | Nov. 30, 2016share |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Number of share options outstanding in share-based payment arrangement | 3,150,000 | 125,000 | 750,000 | 875,000 |
Numbers of options exercisable | 0 | |||
Weighted average remaining contractual life(year) | Year | 4.33 | |||
Weighted average exercise price | $ | $ 0.58 | |||
January 15, 2024 [Member] | Exercise Price 0.60 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Number of share options outstanding in share-based payment arrangement | 2,150,000 | |||
Numbers of options exercisable | 0 | |||
Weighted average remaining contractual life(year) | Year | 2.82 | |||
Weighted average exercise price | $ | $ 0.60 | |||
March 20, 2024 [Member] | Exercise Price 0.60 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Number of share options outstanding in share-based payment arrangement | 350,000 | |||
Numbers of options exercisable | 0 | |||
Weighted average remaining contractual life(year) | Year | 0.48 | |||
Weighted average exercise price | $ | $ 0.60 | |||
November 28, 2024 [Member] | Exercise Price 0.50 [Member] | ||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||
Number of share options outstanding in share-based payment arrangement | 650,000 | |||
Numbers of options exercisable | 0 | |||
Weighted average remaining contractual life(year) | Year | 1.03 | |||
Weighted average exercise price | $ | $ 0.50 |
SHARE CAPITAL - Disclosure of s
SHARE CAPITAL - Disclosure of share purchase warrant transactions (Details) | 12 Months Ended | |
Nov. 30, 2019share$ / sharesshares | Nov. 30, 2018share$ / sharesshares | |
Disclosure of classes of share capital [abstract] | ||
Warrants outstanding, beginning balance | share | 4,162,275 | 2,640,000 |
Weighted average exercise price, beginning balance | $ 0.51 | $ 0.10 |
Warrants granted | share | 3,567,275 | |
Weighted average exercise price of warrants granted | $ 0.58 | |
Warrants expired | share | (3,251,975) | |
Weighted average exercise price of warrants expired | $ 0.60 | |
Warrants exercised | shares | (910,300) | (2,045,000) |
Weighted average exercise price of warrants exercised | $ 0.21 | $ 0.10 |
Warrants outstanding, ending balance | share | 0 | 4,162,275 |
Weighted average exercise price, ending balance | $ 0 | $ 0.51 |
SUPPLEMENTAL CASH FLOW INFORM_3
SUPPLEMENTAL CASH FLOW INFORMATION - Disclosure of detailed information about supplemental cash flow information (Details) - CAD ($) | 12 Months Ended | ||
Nov. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | |
Non-cash financing activities | |||
Fair value of options cancelled and expired | $ 59,553 | $ 0 | $ 0 |
Fair value of options exercised | 13,590 | 50,080 | 10,907 |
Fair value of agent warrants granted | 127,254 | 0 | 0 |
Shares issued for options exercised | 37,500 | 0 | 0 |
Shares issued for warrants exercised | 187,120 | 0 | 49,050 |
Share issuance costs | 0 | 128,995 | 0 |
Non-cash investing activities: | |||
Shares issued for acquisition | 0 | 1,399,763 | 0 |
Shares to be issued for acquisition of inventory | 22,800 | 0 | 0 |
Shares issued for exploration and evaluations assets | $ 0 | $ 0 | $ 6,000 |
BUSINESS ACQUISITION - Disclosu
BUSINESS ACQUISITION - Disclosure of detailed information about purchase price allocation (Details) - Business combinations [member] | Oct. 31, 2018CAD ($) |
Consideration: | |
Common shares | $ 1,240,200 |
Consideration transferred | 1,240,200 |
Purchase Price Allocation: | |
Cash | 47,467 |
Prepaid | 2,626 |
Intangible assets: | |
Development assets | 304,000 |
Intellectual and engineering development | 936,781 |
Loan | (50,674) |
Deferred tax liability | (253,975) |
Purchase price allocation | |
Net identifiable assets acquired | 986,225 |
Goodwill | 253,975 |
Total consideration | $ 1,240,200 |
COMMITMENTS - Disclosure of com
COMMITMENTS - Disclosure of commitments (Details) - Nov. 30, 2019 | CAD ($) | USD ($) |
Plymouth, Massachusetts [Member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Minimum rent to be paid for lease agreements | $ 36,060 | |
Vancouver, British Columbia [Member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Minimum rent to be paid for lease agreements | $ 10,000 | |
2019 [Member] | Plymouth, Massachusetts [Member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Minimum rent to be paid for lease agreements | 3,005 | |
2019 [Member] | Vancouver, British Columbia [Member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Minimum rent to be paid for lease agreements | 2,500 | |
2020 [Member] | Plymouth, Massachusetts [Member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Minimum rent to be paid for lease agreements | $ 33,055 | |
2020 [Member] | Vancouver, British Columbia [Member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Minimum rent to be paid for lease agreements | $ 7,500 |
INCOME TAXES - Disclosure of de
INCOME TAXES - Disclosure of detailed information about effective income tax expense (recovery) (Details) - CAD ($) | 12 Months Ended | ||
Nov. 30, 2019 | Nov. 30, 2018 | Nov. 30, 2017 | |
Income taxes paid (refund) [abstract] | |||
Net loss before tax and comprehensive loss | $ (4,612,286) | $ (998,225) | $ (115,989) |
Statutory tax rate | 27.00% | 26.92% | 26.00% |
Expected income tax (recovery) | $ (1,245,317) | $ (268,689) | $ (30,157) |
Non-deductible items | 61,781 | 43,592 | 0 |
Goodwill impairment | 186,864 | 0 | 0 |
Change in estimates | (214,745) | 0 | 0 |
Change in deferred tax assets not recognized | 965,938 | 213,774 | 30,157 |
Income tax expense (recovery) | $ (245,479) | $ (11,323) | $ 0 |
INCOME TAXES - Disclosure of _2
INCOME TAXES - Disclosure of deferred taxes (Details) | 12 Months Ended |
Nov. 30, 2019CAD ($) | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net deferred tax assets (liability) - beginning balance | $ (245,813) |
Tax recovery (expense) | 245,479 |
Foreign exchange | 334 |
Net deferred tax assets (liability) - ending balance | 0 |
Intangible assets [Member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net deferred tax assets (liability) - beginning balance | (257,223) |
Tax recovery (expense) | 256,875 |
Foreign exchange | 348 |
Net deferred tax assets (liability) - ending balance | 0 |
Non-capital losses carryforwards [Member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Net deferred tax assets (liability) - beginning balance | 11,410 |
Tax recovery (expense) | (11,396) |
Foreign exchange | (14) |
Net deferred tax assets (liability) - ending balance | $ 0 |
INCOME TAXES - Disclosure of te
INCOME TAXES - Disclosure of temporary difference, unused tax losses and unused tax credits (Details) - CAD ($) | Nov. 30, 2019 | Nov. 30, 2018 |
Income taxes paid (refund) [abstract] | ||
Exploration and evaluation assets | $ 35,000 | $ 61,000 |
Non-capital loss carryforwards | 2,258,584 | 1,350,310 |
Net operating losses | 1,426,074 | |
Intangible assets | 1,316,280 | |
Financing costs | 74,880 | 232,465 |
Capital losses | 78,006 | |
Cumulative eligible capital | 270 | 270 |
Total unrecognized deductible temporary differences | $ 5,189,094 | $ 1,644,045 |
INCOME TAXES - Disclosure of no
INCOME TAXES - Disclosure of non-capital loss carryforwards (Details) - CAD ($) | Nov. 30, 2019 | Nov. 30, 2018 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | $ 3,684,658 | $ 1,350,310 |
2030 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 2,937 | |
2031 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 15,506 | |
2032 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 57,655 | |
2033 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 59,622 | |
2034 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 117,154 | |
2035 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 122,790 | |
2036 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 138,822 | |
2037 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 127,413 | |
2038 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | 675,203 | |
2039 [Member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Non-capital losses carryforwards | $ 2,367,556 |