Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Nov. 30, 2014 | Feb. 20, 2015 | 31-May-14 | |
Document Information [Line Items] | |||
Entity Registrant Name | MultiCell Technologies, Inc. | ||
Entity Central Index Key | 811779 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Smaller Reporting Company | ||
Trading Symbol | MCET | ||
Entity Common Stock, Shares Outstanding | 4,863,448,700 | ||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 30-Nov-14 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2014 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $3,111,347 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Nov. 30, 2014 | Nov. 30, 2013 |
Current assets | ||
Cash and cash equivalents | $112,533 | $146,205 |
Other current assets | 13,410 | 32,600 |
Total current assets | 125,943 | 178,805 |
Property and equipment, net of accumulated depreciation of $40,166 and $40,561 at November 30, 2014 and 2013, respectively | 0 | 0 |
Other assets | 280 | 280 |
Total assets | 126,223 | 179,085 |
Current liabilities | ||
Accounts payable and accrued expenses | 915,666 | 1,072,521 |
Payable to related party | 50,000 | 50,000 |
Advance from warrant holder | 166,150 | 61,950 |
Convertible debenture | 0 | 45,146 |
Current portion of deferred revenue | 49,318 | 49,318 |
Total current liabilities | 1,181,134 | 1,278,935 |
Non-current liabilities | ||
Convertible debenture | 36,426 | 0 |
Deferred revenue, net of current portion | 400,106 | 449,424 |
Derivative liability related to Series B convertible preferred stock | 25,731 | 18,147 |
Total non-current liabilities | 462,263 | 467,571 |
Total liabilities | 1,643,397 | 1,746,506 |
Commitments and contingencies | 0 | 0 |
MultiCell Technologies, Inc. equity (deficiency) | ||
Preferred stock | 0 | 0 |
Common stock, $0.01 par value; 5,000,000,000 shares authorized; 4,552,800,552 and 2,610,793,503 shares issued and outstanding at November 30, 2014 and 2013, respectively | 45,528,006 | 26,107,935 |
Additional paid-in capital | 0 | 16,556,524 |
Accumulated deficit | -46,134,117 | -43,489,211 |
Total MultiCell Technologies, Inc. stockholders' equity (deficiency) | -144,276 | -362,917 |
Noncontrolling interests | -1,372,898 | -1,204,504 |
Total equity (deficiency) | -1,517,174 | -1,567,421 |
Total liabilities and equity (deficiency) | 126,223 | 179,085 |
Series I Convertible Preferred Stock [Member] | ||
MultiCell Technologies, Inc. equity (deficiency) | ||
Preferred stock | 0 | 0 |
Series B Convertible Preferred Stock [Member] | ||
MultiCell Technologies, Inc. equity (deficiency) | ||
Preferred stock | $461,835 | $461,835 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Nov. 30, 2014 | Nov. 30, 2013 |
Accumulated depreciation, property and equipment (in dollars) | $40,166 | $40,561 |
Undesignated preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized/designated | 963,000 | 963,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 5,000,000,000 | 5,000,000,000 |
Common stock, shares issued | 4,552,800,552 | 2,610,793,503 |
Common stock, shares outstanding | 4,552,800,552 | 2,610,793,503 |
Series I Convertible Preferred Stock [Member] | ||
Preferred stock, shares authorized/designated | 20,000 | 20,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Series B Convertible Preferred Stock [Member] | ||
Preferred stock, shares authorized/designated | 17,000 | 17,000 |
Preferred stock, shares issued | 3,448 | 3,448 |
Preferred stock, shares outstanding | 3,448 | 3,448 |
Preferred stock, liquidation value (in dollars) | $470,316 | $470,316 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Revenue | $49,318 | $49,318 |
Operating expenses | ||
Selling, general and administrative | 828,734 | 879,388 |
Research and development | 323,517 | 314,283 |
Stock-based compensation | -380,126 | 223,673 |
Total operating expenses | 772,125 | 1,417,344 |
Income (loss) from operations | -722,807 | -1,368,026 |
Other income (expense) | ||
Interest expense | -10,781 | -2,691 |
Change in fair value of derivative liability | -7,584 | 1,098 |
Gain on extinguishment of liabilities | 212,294 | 0 |
Interest income | 51 | 187 |
Total other income (expense) | 193,980 | -1,406 |
Net loss | -528,827 | -1,369,432 |
Less net loss attributable to the noncontrolling interests | -148,756 | -134,815 |
Net loss attributable to MultiCell Technologies, Inc. | ($380,071) | ($1,234,617) |
Basic and diluted loss per common share: | $0 | $0 |
Basic and diluted weighted-average common shares outstanding: | 3,726,161,060 | 1,915,730,106 |
CONSOLIDATED_STATEMENTS_OF_EQU
CONSOLIDATED STATEMENTS OF EQUITY (DEFICIENCY) (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Noncontrolling Interest [Member] | Series B Preferred Stock [Member] |
Balance at Nov. 30, 2012 | ($1,618,462) | $13,498,030 | $27,755,595 | ($42,254,594) | ($1,079,328) | $461,835 |
Balance (in shares) at Nov. 30, 2012 | 1,349,803,029 | 3,448 | ||||
Issuance of common stock for conversion of 4.75% debentures | 10,880 | 12,599,025 | -12,588,145 | 0 | 0 | 0 |
Issuance of common stock for conversion of 4.75% debentures (in shares) | 1,259,902,474 | 0 | ||||
Issuance of common stock for exercise of warrants | 1,185,920 | 10,880 | 1,175,040 | 0 | 0 | 0 |
Issuance of common stock for exercise of warrants (in shares) | 1,088,000 | 0 | ||||
Stock-based compensation | 223,673 | 0 | 214,034 | 0 | 9,639 | 0 |
Net loss | -1,369,432 | 0 | 0 | -1,234,617 | -134,815 | 0 |
Balance at Nov. 30, 2013 | -1,567,421 | 26,107,935 | 16,556,524 | -43,489,211 | -1,204,504 | 461,835 |
Balance (in shares) at Nov. 30, 2013 | 2,610,793,503 | 3,448 | ||||
Issuance of common stock for conversion of 4.75% debentures | 8,720 | 19,411,351 | -17,137,796 | -2,264,835 | 0 | 0 |
Issuance of common stock for conversion of 4.75% debentures (in shares) | 1,941,135,049 | 0 | ||||
Issuance of common stock for exercise of warrants | 950,480 | 8,720 | 941,760 | 0 | 0 | 0 |
Issuance of common stock for exercise of warrants (in shares) | 872,000 | 0 | ||||
Stock-based compensation | -380,126 | 0 | -360,488 | 0 | -19,638 | 0 |
Net loss | -528,827 | 0 | 0 | -380,071 | -148,756 | 0 |
Balance at Nov. 30, 2014 | ($1,517,174) | $45,528,006 | $0 | ($46,134,117) | ($1,372,898) | $461,835 |
Balance (in shares) at Nov. 30, 2014 | 4,552,800,552 | 3,448 |
CONSOLIDATED_STATEMENTS_OF_EQU1
CONSOLIDATED STATEMENTS OF EQUITY (DEFICIENCY) (Parenthetical) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Debt Conversion, Original Debt, Interest Rate of Debt | 4.75% | 4.75% |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Cash flows from operating activities | ||
Net loss | ($528,827) | ($1,369,432) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Stock-based compensation | -380,126 | 223,673 |
Change in fair value of derivative liability | 7,584 | -1,098 |
Gain on extinguishment of liabilities | -212,294 | 0 |
Changes in assets and liabilities | ||
Other current assets | 19,190 | -21,307 |
Accounts payable and accrued liabilities | 55,439 | -33,655 |
Deferred revenue | -49,318 | -49,318 |
Net cash used in operating activities | -1,088,352 | -1,251,137 |
Cash flows from investing activities | 0 | 0 |
Cash flows from financing activities | ||
Proceeds from the exercise of stock warrants | 950,480 | 1,185,920 |
Change in advance from warrant holder | 104,200 | 11,950 |
Net cash provided by financing activities | 1,054,680 | 1,197,870 |
Net decrease in cash and cash equivalents | -33,672 | -53,267 |
Cash and cash equivalents at beginning of year | 146,205 | 199,472 |
Cash and cash equivalents at end of year | 112,533 | 146,205 |
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid for interest | 2,512 | 2,817 |
Noncash Investing and Financing Activities: | ||
Issuance of common stock for conversion of 4.75% debenture | $8,720 | $10,880 |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Debt Conversion, Original Debt, Interest Rate of Debt | 4.75% | 4.75% |
Organization_and_Summary_of_Si
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Nov. 30, 2014 | |
Accounting Policies [Abstract] | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1 - Organization and Summary of Significant Accounting Policies |
Organization – MultiCell Technologies, Inc. (“MultiCell”), has two subsidiaries, Xenogenics Corporation (“Xenogenics”) and MultiCell Immunotherapeutics, Inc. (“MCTI”). MultiCell holds 95.3% of the outstanding shares (on an as-if-converted to common stock basis) of Xenogenics. Prior to August 15, 2014, MultiCell held approximately 67% of the outstanding shares (on an as-if-converted to common stock basis) of MCTI. Commencing on August 15, 2014, MultiCell’s ownership of MCTI was increased to 85.1% of the outstanding shares (on an as-if-converted to common stock basis) as a result of the conversion of $1,165,867 of inter-company liabilities into shares of common stock of MCTI. As used herein, the “Company” refers to MultiCell, together with Xenogenics and MCTI. | |
The Company’s therapeutic development platform includes several patented techniques used to: (i) isolate, characterize and differentiate stem cells from human liver; (ii) control the immune response at transcriptional and translational levels through double-stranded RNA (dsRNA)-sensing molecules such as the Toll-like Receptors (TLRs), RIG-I-like receptor (RLR), and Melanoma Differentiation-Associated protein 5 (MDA-5) signaling; (iii) generate specific and potent immunity against key tumor targets through a novel immunoglobulin platform technology; and (iv) modulate the noradrenaline-adrenaline neurotransmitter pathway. The Company’s medical device development platform is based on the design of a next-generation bioabsorbable stent, the Ideal BioStent™, for interventional cardiology and peripheral vessel applications. | |
Principles of Consolidation and Basis of Presentation – The accompanying consolidated financial statements of MultiCell Technologies Inc. and its subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America and include the assets, liabilities, revenues and expenses of all majority-owned subsidiaries over which MultiCell exercises control. All significant intercompany balances and transactions have been eliminated in consolidation. | |
Cash and Cash Equivalents – The Company considers all unrestricted highly liquid investments purchased with a maturity of three months or less to be cash equivalents. | |
Fair Value of Financial Instruments – The carrying amounts of cash and cash equivalents, accounts payable, accrued expenses, payable to related party, and advance from debenture holder approximate fair value because of the short-term maturity or demand features of those instruments. The fair value of convertible debentures was approximately $36,426 and $45,146 at November 30, 2014 and 2013, respectively. | |
Credit Risk – It is the Company’s practice to place its cash equivalents in high quality money market securities with major banking institutions. Periodically, the Company maintains cash balances at this institution that exceeds the Federal Deposit Insurance Corporation insurance limit of $250,000 per bank. The Company considers its credit risk associated with cash and cash equivalents to be minimal. The Company does not require collateral from its customers. | |
Revenue Recognition – In the years covered by these consolidated financial statements, the Company's operating revenues have been generated primarily from license revenue under agreements with Corning Incorporated (“Corning”) and Pfizer Inc. Management believes such sources of revenue will be part of the Company's ongoing operations. When applicable, the Company recognizes revenue from licensing and research agreements as services are performed, provided a contractual arrangement exists, the contract price is fixed or determinable and the collection of the contractual amounts is reasonably assured. In situations where the Company receives payment in advance of the performance of services, such amounts are deferred and recognized as revenue as the related services are performed. Deferred revenues associated with services expected to be performed within the 12 - month period subsequent to the balance sheet date are classified as a current liability. Deferred revenues associated with services expected to be performed at a later date are classified as non-current liabilities. | |
Property and Equipment – Property and equipment are recorded at cost. Depreciation of property and equipment is provided using the straight-line method over the estimated useful lives of the assets, generally three to ten years. As of November 30, 2014 and 2013, all property and equipment is fully depreciated. | |
Impairment of Long-Lived Assets– The impairment of long-lived assets that do not have indefinite lives, such as equipment, patents, and license agreements, is recognized when events or changes in circumstances indicate that the undiscounted cash flows estimated to be generated by such assets are less than their carrying value and, accordingly, all or a portion of such carrying value may not be recoverable. Impairment losses are then measured by comparing the fair value of assets to their carrying amounts. | |
Stock Based Compensation– The Company has stockholder-approved stock incentive plans for employees, directors, officers and consultants. The Company recognizes compensation expense for stock-based awards to employees expected to vest on a straight-line basis over the requisite service period of the award, based on their grant-date fair value. The Company estimates the fair value of stock options using the Black-Scholes option-pricing model, which requires management to make estimates for certain assumptions regarding risk-free interest rate, expected life of options, expected volatility of stock, and expected dividend yield of stock. | |
Research and Development Costs– Research and development costs are expensed as incurred. Research and development costs primarily consist of external clinical and preclinical study costs, consulting fees, legal fees and patent costs associated with the Company’s intellectual property, and materials and supplies. The Company expenses patent application and maintenance costs for drug candidates or medical devices that have not received regulatory approval and do not have an alternative future use. | |
Income Taxes – Deferred income taxes are provided for the estimated tax effects of temporary differences between income for tax and financial reporting purposes. A valuation allowance is provided against deferred tax assets, where realization is uncertain. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the “more-likely-than-not” threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax positions are included as a component of selling, general and administrative expense. | |
Loss Per Common Share – Basic loss per common share is computed by dividing the net loss applicable to common stockholders by the weighted average common shares outstanding during each period. Since the Company incurred losses during the years ended November 30, 2014 and 2013, the assumed effects of the exercise of outstanding stock options and warrants, and the conversion of convertible preferred stock and convertible debentures would be anti-dilutive and, accordingly, diluted loss per common share amounts equal basic loss per share amounts and have not been separately presented in the accompanying consolidated statements of operations. The total number of common shares potentially issuable upon exercise or conversion excluded from the calculation of diluted loss per common share for the years ended November 30, 2014 and 2013 was 12,645,810,542 and 10,429,984,310, respectively. | |
Use of Estimates – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the dates of these financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. | |
Risks and Uncertainties – The Company is dependent on continued financing from investors and obtaining new research grants to sustain the development and other activities necessary to commercialize new products. Management is seeking additional financing in order to fund its future activities. There is no assurance, however, that such financing will be available, if and when needed, or if available, that such financing will be completed on commercially favorable terms, or that such development and other activities in connection with its planned products will be successful. | |
Accounting For Warrants Issued With Convertible Debentures– The Company accounts for the value of warrants and the intrinsic value of beneficial conversion rights arising from the issuance of convertible debentures with non-detachable conversion rights that are in-the-money at the commitment date by allocating an appropriate portion of the proceeds received from the debt instruments to the warrants or any other detachable instruments included in the exchange. The proceeds allocated to the warrants or any other detachable instruments are recorded as a discount to the debt. The intrinsic value of the beneficial conversion rights at the commitment date is recorded as additional paid-in capital and as additional discount to the debt as of that date. The discount has been amortized and charged to interest expense over the original term of the debt instrument. | |
Derivative Liability– The Company accounts for the conversion feature of its Series B preferred stock as a derivative liability. The fair value of the conversion feature is estimated using the Black-Scholes option-pricing model. | |
Recently Enacted Accounting Standards– In August 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update 2014-15, Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern, (“ASU 2014-15”). ASU 2014-15 requires management to perform interim and annual assessments on whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year of the date the financial statements are issued and to provide related disclosures, if required. ASU 2014-15 will be effective for the Company’s fiscal year beginning December 1, 2016 and subsequent interim periods. Management is currently evaluating the impact of the pending adoption of ASU 2014-15 on the Company’s consolidated financial statements. | |
In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which stipulates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 will be effective for the Company retrospectively beginning December 1, 2017, with early adoption not permitted. Management is currently evaluating the impact of the pending adoption of ASU 2014-09 on the Company’s consolidated financial statements. | |
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”) to provide guidance on the presentation of unrecognized tax benefits. ASU 2013-11 requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows: to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 is effective January 1, 2015 with earlier adoption permitted. ASU 2013-11 should be applied prospectively with retroactive application permitted. Management is currently evaluating the impact of the pending adoption of ASU 2013-11 on the Company’s consolidated financial statements. | |
Going_Concern
Going Concern | 12 Months Ended |
Nov. 30, 2014 | |
Going Concern [Abstract] | |
Going Concern [Text Block] | Note 2 - Going Concern |
These consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of November 30, 2014, the Company has operating and liquidity concerns and, as a result of recurring losses, has incurred an accumulated deficit of $46,134,117. The Company will have to raise additional capital in order to initiate Phase IIb/III clinical trials for MCT-125, the Company’s therapeutic product for the treatment of fatigue in multiple sclerosis patients, conduct further research on MCT-465 and MCT-485, therapeutic products for the treatment of primary liver cancer, and initiate clinical trials for Xenogenic's bioabsorbable, drug eluting stent, the Ideal BioStent™. The Company’s management is evaluating several sources of financing for the Company’s clinical trial program. Additionally, with its strategic shift in focus to therapeutic programs and technologies, management expects the Company’s future cash requirements to increase significantly as it advances the Company’s therapeutic programs into clinical trials. Until the Company is successful in raising additional funds, it may have to prioritize its therapeutic programs and delays may be necessary in some of the Company’s development programs. | |
Since March 2008, the Company has operated on working capital provided by La Jolla Cove Investors (LJCI). As further described in Note 5 to these consolidated financial statements, under terms of the LJCI Agreement (as defined below), LJCI can convert a portion of the Debenture (as defined below) by simultaneously exercising the LJCI Warrant (as defined below) at $1.09 per share. As of November 30, 2014, there are 3,642,629 shares remaining on the LJCI Warrant and a balance of $36,426 remaining on the Debenture. Should LJCI continue to exercise all of the shares remaining under the LJCI Warrant, approximately $3.97 million of cash would be provided to the Company. The LJCI Agreement limits LJCI’s investment to an aggregate ownership that does not exceed 9.9% of the common stock of MultiCell. The Company expects that LJCI will continue to exercise the LJCI Warrant and convert the Debenture through February 28, 2016, the date that the Debenture is due and the LJCI Warrant expires, subject to the limitations of the LJCI Agreement and the availability of authorized common stock of MultiCell. | |
These factors, among others, create an uncertainty about the Company’s ability to continue as a going concern. There can be no assurance that LJCI will continue to exercise the LJCI Warrant to purchase MultiCell’s common stock, or that the Company will be able to successfully acquire the necessary capital to continue its on-going research efforts and bring its products to the commercial market. Management’s plans to acquire future funding include the potential sale of shares of the Company’s common and/or preferred stock, the sale of warrants, and continued sales of the Company’s proprietary media, immortalized cells and primary cells to the pharmaceutical industry. Additionally, the Company continues to pursue research projects, government grants and capital investment. The accompanying consolidated financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | |
Property_and_Equipment
Property and Equipment | 12 Months Ended | |||||||
Nov. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant, and Equipment and Intangible Assets [Text Block] | Note 3 – Property and Equipment | |||||||
Property and equipment are recorded at cost, less accumulated depreciation, and is comprised of the following at November 30, 2014 and 2013: | ||||||||
2014 | 2013 | |||||||
Lab Equipment | $ | 14,322 | $ | 14,717 | ||||
Furniture and Office Equipment | 25,844 | 25,844 | ||||||
40,166 | 40,561 | |||||||
Less: Accumulated depreciation | -40,166 | -40,561 | ||||||
Property and Equipment, Net | $ | - | $ | - | ||||
At November 30, 2014 and 2013, property and equipment are fully depreciated and the Company recorded no depreciation expense for the fiscal years ended November 30, 2014 and 2013. | ||||||||
Payable_to_Related_Party
Payable to Related Party | 12 Months Ended |
Nov. 30, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 4 – Payable to Related Party |
In connection with an acquisition in September 2005, the Company assumed certain liabilities in the amount of $200,000, payable to an individual who is a current director of the Company. The liability is to be paid to this individual over time as determined by the remainder of the members of the board of directors. The balance of the liability owed to this director is $50,000 as of November 30, 2014 and 2013. | |
Convertible_Debenture
Convertible Debenture | 12 Months Ended |
Nov. 30, 2014 | |
Debt Disclosure [Abstract] | |
Long-term Debt [Text Block] | Note 5 - Convertible Debenture |
The Company entered into a Securities Purchase Agreement with LJCI on February 28, 2007 (the “LJCI Agreement”) pursuant to which MultiCell agreed to sell a convertible debenture in the principal amount of $100,000 and originally scheduled to mature on February 28, 2012 (the “Debenture”). On August 16, 2011, MultiCell and LJCI amended the Debenture to extend the maturity date to February 28, 2014. On February 20, 2014, MultiCell and LJCI amended the Debenture to further extend the maturity date to February 28, 2016. The Debenture accrues interest at 4.75% per year, payable in cash or shares of MultiCell’s common stock at the option of LJCI. In connection with the Debenture, MultiCell issued LJCI a warrant to purchase up to 10 million shares of its common stock (the “LJCI Warrant”) at an exercise price of $1.09 per share, exercisable over five years according to a schedule described in a letter agreement dated February 28, 2007. On August 16, 2011, MultiCell and LJCI amended the LJCI Warrant to extend the expiration date to February 28, 2014. On February 20, 2014, MultiCell and LJCI amended the LJCI Warrant to further extend the expiration date to February 28, 2016. Pursuant to the terms of the LJCI Warrant, upon the conversion of any portion of the principal amount of the Debenture, LJCI is required to simultaneously exercise and purchase that same percentage of the warrant shares equal to the percentage of the dollar amount of the Debenture being converted. Therefore, as an example, for each $1,000 of the principal converted, LJCI would be required to simultaneously purchase 100,000 shares under the LJCI Warrant at $1.09 per share. The LJCI Agreement limits LJCI’s investment to an aggregate common stock ownership that does not exceed 9.99% of the outstanding common stock of MultiCell. | |
The Debenture is convertible at the option of LJCI at any time up to maturity into the number of shares of MultiCell’s common stock determined by the dollar amount of the Debenture being converted multiplied by 110, minus the product of the Conversion Price (as defined below) multiplied by 100 times the dollar amount of the Debenture being converted, with the entire result divided by the Conversion Price. The “Conversion Price” is equal to the lesser of $1.00 or 80% of the average of the three lowest volume-weighted average prices during the twenty trading days prior to the election to convert. During the fiscal year ended November 30, 2013, LJCI converted $10,880 of the Debenture into 1,259,902,474 shares of MultiCell’s common stock. Simultaneously with these conversions, LJCI exercised warrants to purchase 1,088,000 shares of MultiCell’s common stock. Proceeds from the exercise of the warrants were $1,185,920. During the fiscal year ended November 30, 2014, LJCI converted $8,720 of the Debenture into 1,941,135,049 shares of MultiCell’s common stock. Simultaneously with these conversions, LJCI exercised warrants to purchase 872,000 shares of MultiCell’s common stock. Proceeds from the exercise of the warrants were $950,480. At times, LJCI makes advances to the Company prior to the exercise of warrants. At November 30, 2014 and 2013, LJCI had advanced $166,150 and $61,950, respectively, to the Company in advance of LJCI’s exercise of warrants. | |
As of November 30, 2014, the remainder of the Debenture in the amount of $36,426 could have been converted by LJCI into approximately 12.5 billion shares of common stock, which would require LJCI to simultaneously exercise and purchase all of the remaining 3,642,629 shares of MultiCell’s common stock under the LJCI Warrant at $1.09 per share. As of November 30, 2013, the balance of the Debenture was $45,146. For the Debenture, upon receipt of a conversion notice from the holder, MultiCell may elect to immediately redeem that portion of the Debenture that the holder elected to convert in such conversion notice, plus accrued and unpaid interest. MultiCell, at its sole discretion, has had the right, without limitation or penalty, to redeem the outstanding principal amount of the Debenture not yet converted by the holder into common stock, plus accrued and unpaid interest thereon. | |
Deferred_Revenue
Deferred Revenue | 12 Months Ended |
Nov. 30, 2014 | |
Deferred Revenue [Abstract] | |
Deferred Revenue [Text Block] | Note 6 – Deferred Revenue |
Corning Incorporated | |
The Company has an exclusive license and purchase agreement (the “Agreement”) with Corning Incorporated (“Corning”) of Corning, New York. Under the terms of the Agreement, Corning has the right to develop, use, manufacture, and sell the Company’s Fa2N-4 cell lines and related cell culture media for use as a drug discovery assay tool, including biomarker identification for the development of drug development assay tools, and for the performance of absorption, distribution, metabolism, elimination and toxicity assays (“ADME/Tox assays”). The Company retained and will continue to support all of its existing licensees. The Company retains the right to use the Fa2N-4 cells for use in applications not related to drug discovery or ADME/Tox assays. The Company also retains rights to use the Fa2N-4 cell lines and other cell lines to further develop its Sybiol® liver assist device, to produce therapeutic proteins using the Company’s BioFactories™ technology, to identify drug targets and for other applications related to the Company’s internal drug development programs. In consideration for the license granted, Corning paid the Company $375,000 upon execution of the Agreement, and an additional $375,000 upon the completion of a transition period. In addition, Corning purchased inventory and equipment from the Company and reimbursed the Company for laboratory costs and other expenses during a transition period. The Company is recognizing the income ratably over a 17 year period. The Company recognized $44,118 in income for each of the fiscal years ended November 30, 2014 and 2013. The balance of deferred revenue from this license is $433,824 and $477,942 at November 30, 2014 and 2013, respectively, and will be amortized into revenue through October 2024. | |
Pfizer Inc. | |
The Company has another license agreement with Pfizer Inc., for which revenue is being deferred. During the years ended November 30, 2014 and 2013, the Company recognized $5,200 in each year and the balance of the deferred revenue from this license is $15,600 and $20,800 at November 30, 2014 and 2013, respectively, and will be amortized into revenue through January 2018. | |
Series_B_Convertible_Preferred
Series B Convertible Preferred Stock (Series B Preferred Stock [Member]) | 12 Months Ended | ||||||||
Nov. 30, 2014 | |||||||||
Series B Preferred Stock [Member] | |||||||||
Equity [Abstract] | |||||||||
Preferred Stock [Text Block] | Note 7 – Series B Convertible Preferred Stock | ||||||||
The Company’s Board of Directors has the authority, without further action by the stockholders, to issue up to 1,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions of these shares of preferred stock. The Board of Directors originally designated 17,000 shares as Series B convertible preferred stock. The Series B preferred stock does not have voting rights. | |||||||||
The Series B shares are convertible at any time into shares of MultiCell’s common stock at a conversion price determined by dividing the purchase price per share of $100 by the conversion price. The conversion price was originally $0.32 per share. Upon the occurrence of an event of default (as defined in the applicable Series B convertible preferred stock purchase agreement), the conversion price of the Series B shares shall be reduced to 85% of the then-applicable conversion price of such shares. The conversion price is subject to equitable adjustment in the event of any stock splits, stock dividends, recapitalizations and the like. In addition, the conversion price is subject to weighted average anti-dilution adjustments in the event the Company sells common stock or other securities convertible into or exercisable for common stock at a per share price, exercise price or conversion price lower than the conversion price then in effect in any transaction (other than in connection with an acquisition of the securities, assets or business of another company, joint venture and/or the issuance of employee stock options). As a result of the Company issuing common stock upon conversion of convertible debentures and upon the exercise of warrants at prices lower than the conversion price, and due to the Company not paying Series B dividends on a monthly basis (as discussed below), the conversion price of the Series B convertible preferred stock has been reduced to $0.0067 per share as of November 30, 2014 and to $0.0114 per share as of November 30, 2013. Pursuant to the applicable Series B convertible preferred stock purchase agreement, each investor may only convert that number of shares of Series B convertible preferred stock into that number of shares of MultiCell’s common stock that does not exceed 9.99% of the outstanding shares of common stock on the date of conversion. | |||||||||
Commencing on the date of issuance of the Series B convertible preferred stock until the date a registration statement registering the common shares underlying the preferred stock and warrants issued is declared effective by the SEC, the Company was required to pay on each outstanding share of Series B convertible preferred stock a preferential cumulative dividend at an annual rate equal to the product of multiplying $100 per share by the higher of (i) the Wall Street Journal Prime Rate plus 1%, or (ii) 9%. In no event was the dividend rate to be greater than 12% per annum. The dividend was payable monthly in arrears in cash on the last day of each month based on the number of shares of Series B convertible preferred stock outstanding as of the first day of that month. In the event the Company did not pay the Series B preferred dividends when due, the conversion price of the Series B preferred shares was reduced to 85% of the otherwise applicable conversion price. The Company has not paid the required monthly Series B preferred dividends since November 30, 2006, which, in part, caused the conversion price to be reduced. Subsequent to November 30, 2010, the Company received an opinion of outside counsel providing for the removal of the restrictive legend on the Series B convertible preferred stock, which in turn terminated the requirement to accrue the related dividends. Accordingly, no dividends have been accrued since November 30, 2010. Total accrued but unpaid preferred dividends recorded in the accompanying consolidated balance sheets as of November 30, 2014 and November 30, 2013 are $290,724, of which $125,516 are recorded in permanent equity with the Series B convertible preferred stock and $165,208 are recorded as a current liability in accounts payable and accrued expenses. | |||||||||
The conversion feature which gives the holders of the Series B convertible preferred stock the right to acquire shares of MultiCell’s common stock is an embedded derivative. As of November 30, 2014 and 2013, there were 3,448 shares of Series B convertible preferred stock that were convertible into 51,462,687 and 30,245,614 shares of MultiCell’s common stock, respectively. The fair value of the conversion feature was estimated at $25,731 ($0.0005 per share of common stock) and $18,147 ($0.0006 per share of common stock) at November 30, 2014 and 2013, respectively, and has been estimated using the Black-Scholes option-pricing model using the following assumptions: | |||||||||
November 30, 2014 | November 30, 2013 | ||||||||
Fair value of common stock | $ | 0.0005 | $ | 0.0007 | |||||
Conversion price of preferred stock | $ | 0.0067 | $ | 0.0114 | |||||
Risk free interest rate | 2.18 | % | 2.75 | % | |||||
Expected life | 10 Years | 10 Years | |||||||
Dividend yield | - | - | |||||||
Volatility | 143 | % | 142 | % | |||||
The fair value of the conversion feature decreased by $1,098 during the year ended November 30, 2013, which has been recorded as a gain from the change in the fair value of the derivative liability. The fair value of the conversion feature increased by $7,584 during the year ended November 30, 2014, which has been recorded as a loss from the change in the fair value of the derivative liability. | |||||||||
Pursuant to the Certificate of Designation of the Series B convertible preferred stock, in the event of any dissolution or winding up of the Company, whether voluntary or involuntary, holders of each outstanding share of Series B convertible preferred stock shall be entitled to be paid second in priority to the Series I preferred stockholders out of the assets of the Company available for distribution to stockholders, an amount equal to $100 per share of Series B convertible preferred stock held plus any declared but unpaid dividends. However, as described below, no shares of the Company’s Series I convertible preferred stock were outstanding at November 30, 2014. After such payment has been made in full, such holders of Series B convertible preferred stock shall be entitled to no further participation in the distribution of the assets of the Company. | |||||||||
Series_I_Convertible_Preferred
Series I Convertible Preferred Stock (Series I Convertible Preferred Stock [Member]) | 12 Months Ended |
Nov. 30, 2014 | |
Series I Convertible Preferred Stock [Member] | |
Equity [Abstract] | |
Preferred Stock [Text Block] | Note 8 – Series I Convertible Preferred Stock |
The Company’s Board of Directors has the authority, without further action by the stockholders, to issue up to 1,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions of these shares of preferred stock. The Board of Directors originally designated 20,000 shares as Series I convertible preferred stock. In 2004, the Company completed a private placement of Series I convertible preferred stock. A total of 20,000 shares were originally sold to accredited investors. As of November 30, 2014 and 2013, all of the shares of Series I convertible preferred stock had been converted into shares of MultiCell’s common stock and no shares of the Series I convertible preferred stock were outstanding. | |
Pursuant to the Certificate of Designations of Preferences and Rights of Series I Preferred Stock, the Series I preferred stock does not have voting rights and in the event of any dissolution or winding up of the Company, whether voluntary or involuntary, holders of each outstanding share of Series I convertible preferred stock shall be entitled to be paid first out of the assets of the Company available for distribution to stockholders, an amount equal to $100 per share of Series I preferred stock held. After such payment has been made in full, such holders of Series I convertible preferred stock shall be entitled to no further participation in the distribution of the assets of the Company. As described above, there are no shares of Series I preferred stock outstanding at November 30, 2014. | |
Common_Stock
Common Stock | 12 Months Ended | |||||||
Nov. 30, 2014 | ||||||||
Equity [Abstract] | ||||||||
Common Stock Disclosure [Text Block] | Note 9 – Common Stock | |||||||
On November 15, 2013, the Company held its Annual Meeting of Stockholders. At the meeting, the stockholders approved an amendment to increase the number of shares of common stock authorized under the Company’s Amended and Restated Certificate of Incorporation to five billion shares. The Amended and Restated Certificate of Incorporation was filed with the State of Delaware on November 21, 2013. | ||||||||
The potential issuable common shares as of November 30, 2014 and 2013 are as follows: | ||||||||
2014 | 2013 | |||||||
Warrants | 6,823,030 | 7,829,030 | ||||||
Stock options | 69,630,266 | 50,399,503 | ||||||
Series B convertible preferred stock | 51,462,687 | 30,245,614 | ||||||
Convertible debenture | 12,517,894,559 | 10,341,510,163 | ||||||
12,645,810,542 | 10,429,984,310 | |||||||
MultiCell does not currently have sufficient authorized shares of common stock to meet the commitments entered into under the Debenture and the related LJCI Warrants. As further discussed in Note 5, upon the conversion of any portion of the remaining $36,426 principal amount of the Debenture, LJCI is required to simultaneously exercise and purchase that same percentage of the remaining 3,642,629 warrant shares equal to the percentage of the dollar amount of the Debenture being converted. The LJCI Agreement limits LJCI’s investment to an aggregate common stock ownership that does not exceed 9.99% of the outstanding common shares of MultiCell. Furthermore, MultiCell has the right to redeem that portion of the Debenture that the holder may elect to convert and also has the right to redeem the outstanding principal amount of the Debenture not yet converted by the holder into common stock, plus accrued and unpaid interest thereon. | ||||||||
Technology_Acquisitions_and_Li
Technology Acquisitions and License Agreements | 12 Months Ended | ||
Nov. 30, 2014 | |||
Technology Acquisitions And License Agreements [Abstract] | |||
Technology Acquisitions And License Agreements [Text Block] | Note 10 – Technology Acquisitions and License Agreements | ||
Ideal BioStent™ | |||
Purchase of Ideal BioStent™ — Foreclosure Sale Agreement | |||
On September 30, 2010, Xenogenics entered into a Foreclosure Sale Agreement (“Foreclosure Sale Agreement”) with Venture Lending & Leasing IV, Inc., Venture Lending & Leasing V, Inc. and Silicon Valley Bank (collectively, the “Sellers”). Pursuant to the Foreclosure Sale Agreement, Xenogenics acquired all of the Sellers’ interests in certain bioabsorbable stent assets (known as “Ideal BioStent™”) and related technologies. In consideration for the purchase of the assets, Xenogenics made cash payments to the Sellers in the aggregate amount of $400,000. | |||
Xenogenics is also required to make cash payments to the Sellers as follows based on the achievement of certain milestones: | |||
⋅ | $300,000 is payable upon the earlier to occur of (i) initiation of pivotal Generation 2 stent human clinical trials, (ii) execution of an agreement in which Xenogenics grants a third party rights to develop or exploit the purchased assets, valued at no less than $3,000,000 (including all up-front payments and the net present value of any future royalty/milestone payments), and (iii) a “change of control” of Xenogenics; | ||
⋅ | $1,000,000 is payable upon the earlier to occur of (i) regulatory approval by any regulatory authority in a European Union member country, (ii) execution of an agreement in which Xenogenics grants a third party rights to develop or exploit the purchased assets, valued at no less than $5,000,000 (including all up-front payments and the net present value of any future royalty/milestone payments); and (iii) a “change of control” of Xenogenics; and | ||
⋅ | $3,000,000 is payable upon the earlier to occur of (i) regulatory approval by the U.S. Food and Drug Administration, (ii) execution of an agreement in which Xenogenics grants a third party rights to develop or exploit the purchased assets, valued at no less than $5,000,000 (including all up-front payments and the net present value of any future royalty/milestone payments); and (iii) a “change of control” of Xenogenics. | ||
None of these milestones were achieved as of November 30, 2014 and, accordingly, none of these obligations have accrued. Xenogenics’ obligations under the Foreclosure Sale Agreement had been previously extended pursuant to Amendments No. 1, No. 2, and No. 3 dated September 30, 2011, October 23, 2012, and October 11, 2013, respectively. On December 1, 2014, Xenogenics entered into Amendment No. 4 to the Foreclosure Sale Agreement which further extended the deadlines for the achievement of these milestones under the Foreclosure Sale Agreement by an additional 12 months. As a result of these various amendments to extend the dates for achievement of the milestones, the Company is in compliance with the requirements of the Foreclosure Sale Agreement, as amended. Xenogenics is required to use Good Faith Reasonable Efforts (as defined in the Foreclosure Sale Agreement) to achieve these milestones. Failure to achieve any of these milestones shall result in all milestone payments, totaling $4.3 million, becoming immediately due and payable, unless Xenogenics’ failure to use Good Faith Reasonable Efforts is due to Technical Difficulties (as defined in the Foreclosure Sale Agreement) or to Financial Hardship (as defined in the Foreclosure Sale Agreement), in which case Xenogenics can elect to (i) pay all remaining milestone payments and continue commercialization efforts, or (ii) assign all intellectual property acquired by Xenogenics under the agreement to the counterparties to the agreement and cease all development and commercialization efforts. Accordingly, Xenogenics has not accrued the $4.3 million commitment because Amendment No. 4 has been executed and also believes that the Financial Hardship exemption in the Foreclosure Sale Agreement would protect it in the future from any requirement to pay the $4.3 million. | |||
Rutgers License Agreement | |||
To supplement the technology acquired under the Foreclosure Sale Agreement, Xenogenics also entered in to a license agreement (the “Rutgers License Agreement”) with Rutgers, The State University of New Jersey (“Rutgers”) effective September 30, 2010. The term of the Rutgers License Agreement commenced on September 30, 2010, and was to terminate on the earlier of (i) the expiration of all valid patents granted with respect to the licensed technology (or products commercialized therefrom) in a country, and (ii) ten years from the date of first commercial sale in a country. | |||
Pursuant to the Rutgers License Agreement, Rutgers granted Xenogenics a worldwide exclusive license to exploit and commercialize certain patents and other intellectual property rights, as further described in the Rutgers License Agreement, relating to bioabsorbable stents for interventional cardiology and peripheral vascular applications. In consideration for the license and other rights granted under the Rutgers License Agreement, Xenogenics paid Rutgers a license fee of $50,000. In addition, under the Rutgers License Agreement, Xenogenics was obligated to pay Rutgers a license maintenance fee of $25,000 on the third anniversary of the Rutgers License Agreement, and $50,000 on the fourth anniversary. Additionally, Xenogenics agreed to pay Rutgers for unpaid costs of $136,000 incurred by Rutgers prior to the effective date of the Rutgers License Agreement for preparing, filing, prosecuting, defending, and maintaining all United States patent applications and patents covered under the Rutgers License Agreement. Additionally, Xenogenics was also required to make additional cash payments to Rutgers upon the achievement of certain milestones. None of these milestones were ever achieved, and accordingly, none of these obligations were ever accrued. Furthermore, upon the sale of products commercialized using the technology licensed pursuant to the Rutgers License Agreement, Xenogenics was required to make royalty payments to Rutgers in an amount equal to three percent of the annual aggregate gross amounts charged for such products less deductions for expenses such as sales/use taxes, transportation charges and trade discounts. No sales were ever made that required the payment of any royalty. | |||
It became apparent during the evaluation and development of the Ideal BioStent™ that the use of intellectual property licensed from Rutgers would have introduced complications in the design of the Ideal BioStent. As a result, Xenogenics abandoned the use of the Rutgers technology effective January 2014. On January 31, 2014, Rutgers notified Xenogenics of its alleged default of the provisions in the Rutgers License Agreement. On May 9, 2014, Rutgers issued a notice of termination of the Rutgers License Agreement, and demanded payment of unpaid license fees of $25,000, unpaid patent costs of $75,665, and accrued interest of $8,375. All of these claimed fees, costs, and interest have been accrued in the accompanying consolidated financial statements. Management is currently evaluating the merits of these claims. | |||
Sponsored Research Agreement | |||
On September 27, 2013, MultiCell entered into a new sponsored research agreement with Anand Ghanekar, M.D., Ph.D, of the University Health Network’s Toronto General Hospital expanding the scope of the current research project with the University Health Network (“UHN”) to evaluate MCT-485 in animal models for the treatment of primary liver cancer (the “Ghanekar Agreement”). On July 5, 2011, the Company had previously entered into a sponsored research agreement with UHN pursuant to which UHN evaluated the Company’s product candidates, MCT-465 and MCT-485, in in vitro models for the treatment of primary liver cancer (the “UHN Agreement”). The mechanism of action of MCT-465 and MCT-485 and their potential selective effect on liver cancer stem cells were also evaluated. Under the terms of each of the Ghanekar Agreement and the UHN Agreement, the Company retains exclusive access to the research findings and intellectual property resulting from the research activities performed by each of Dr. Ghanekar and UHN, respectively. As of November 30, 2014, this sponsored research agreement had concluded, but this research is continuing in a non-academic setting. | |||
Amarin Neuroscience Limited | |||
On December 31, 2005, the Company entered into a worldwide Exclusive License Agreement (the “License Agreement”) with Amarin Neuroscience Limited (“Amarin”). Among other things, the License Agreement provides that Amarin shall grant to the Company and its affiliates an exclusive worldwide license with respect to therapeutic or commercial uses of certain technology of Amarin, including LAX-202 (to be renamed MCT-125), and the Company shall develop and seek to commercialize products based on such technology. The initial technology to be developed is Amarin’s LAX-202, which is a potential treatment for fatigue in patients diagnosed with multiple sclerosis. The agreement has a term equal to the life of the patents licensed. The License Agreement provides that the Company will pay future royalty milestone payments in accordance with the following: | |||
(a) | $500,000 upon first filing of a new drug application with Food and Drug Administration (FDA) or a reasonably similar filing with any regulatory authority for Active Agent Product, | ||
(b) | $1,000,000 upon first FDA approval for sale in the USA for Active Agent Product, | ||
(c) | $1,500,000 within twelve calendar months after the first sale in the USA for Active Agent Product, and | ||
(d) | $1,000,000 within twelve calendar months after the first sale in the European Economic Area for Active Agent Product. | ||
None of these milestones have been achieved as of November 30, 2014 and, accordingly, none of these obligations have been paid or recorded. If any milestone payment is not paid when due, and if no payment is received from the Company within thirty days after the date of receipt of a written notice of such nonpayment, Amarin shall have the option to either (i) terminate this agreement or (ii) convert the license under this agreement to a worldwide non-exclusive license with the right to sublicense, which non-exclusive license shall be subject to all of the terms and obligations of the agreement. The Company shall also pay Amarin without set-off or counterclaim a royalty of nine percent on net sales of Active Agent Product sold by the Company, its affiliates, or sublicensees and their affiliates. On November 5, 2008 the License Agreement was amended whereby Amarin granted exclusive worldwide rights to the Company related to the treatment of all chronic fatigue and pain in addition to the treatment of fatigue in multiple sclerosis patients. | |||
Rhode Island Hospital | |||
In September 2001, the Company completed the purchase of its cell line business and, as a result, it acquired an exclusive license agreement with Rhode Island Hospital for the use of four patents owned by the hospital related to liver cell lines and liver assist devices. The primary patent acquired and being utilized is for immortalized hepatocytes. As of November 30, 2006, management tested the carrying value of the license agreement for impairment and concluded that it had been impaired and reduced the carrying value to zero. The Company will pay the hospital a 5% royalty on net sales derived from licenses based upon the patented technology, until it has paid a total of $550,000. As of November 30, 2014, no significant payments had been made under this license agreement. After royalties totaling $550,000 have been paid, the Company pays a 2% royalty instead of a 5% royalty for the life of the patent. | |||
Stock_Compensation_Plans
Stock Compensation Plans | 12 Months Ended | ||||||||||||
Nov. 30, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 11 – Stock Compensation Plans | ||||||||||||
On July 11, 2011, at the Company’s Annual Meeting of Stockholders, the stockholders approved an amendment to increase the number of shares reserved under the 2004 Equity Incentive Plan (the “2004 Plan”) to a total of 70,974,213 shares. There have been subsequent amendments to increase the number of shares reserved under the 2004 Plan and the number of shares reserved under the 2004 Plan has also increased pursuant to the provisions of the 2004 Plan. The purpose of the 2004 Plan was to provide a means by which eligible recipients of stock awards could be given the opportunity to benefit from increases in the value of the Company’s common stock. Under the provisions of the 2004 Plan, the 2004 Plan terminated on March 2, 2014, and as such, there are no additional shares of common stock available for future awards under the 2004 Plan. | |||||||||||||
Generally accepted accounting principles for stock options require the recognition of the cost of employee services received in exchange for an award of equity instruments in the financial statements, which is measured based on the grant date fair value of the award, and require the stock option compensation expense to be recognized over the period during which an employee is required to provide service in exchange for the award (the vesting period), net of estimated forfeitures. The estimation of forfeitures requires significant judgment, and to the extent actual results or updated estimates differ from the current estimates, such resulting adjustment will be recorded in the period estimates are revised. No income tax benefit has been recognized for stock-based compensation arrangements and no compensation cost has been capitalized in the consolidated balance sheets. | |||||||||||||
A summary of the status of stock options granted by MultiCell at November 30, 2014 and 2013, and changes during the years then ended is presented in the following table: | |||||||||||||
Weighted | |||||||||||||
Weighted | Average | ||||||||||||
Shares | Average | Remaining | Aggregate | ||||||||||
Under | Exercise | Contractual | Intrinsic | ||||||||||
Option | Price | Life | Value | ||||||||||
Outstanding at November 30, 2012 | 26,068,947 | $ | 0.0084 | 3.1 years | $ | - | |||||||
Granted | 30,000,000 | 0.0011 | |||||||||||
Exercised | - | - | |||||||||||
Expired or forfeited | -5,669,444 | 0.009 | |||||||||||
Outstanding at November 30, 2013 | 50,399,503 | $ | 0.004 | 3.7 years | $ | - | |||||||
Granted | 25,074,710 | 0.0008 | |||||||||||
Exercised | - | - | |||||||||||
Expired or forfeited | -5,843,947 | 0.0135 | |||||||||||
Outstanding at November 30, 2014 | 69,630,266 | $ | 0.002 | 3.4 years | $ | - | |||||||
Exercisable at November 30, 2014 | 58,992,975 | $ | 0.0022 | 3.3 years | $ | - | |||||||
On January 15, 2014, the MultiCell Board of Directors granted an option to each of the five members of the Board of Directors to purchase 4,600,000 shares of MultiCell’s common stock at $0.0008 per share. The options vest quarterly over one year, subject to continuing service as a director on each such vesting date, and expire five years after grant. Additionally, the Board of Directors granted an option to an employee to purchase 2,074,710 shares of MultiCell’s common stock at $0.0008 per share. This option vests monthly over three years, subject to continuing service as an employee on each such vesting date, and expires five years after grant. On August 16, 2013, the MultiCell Board of Directors granted an option to each of the five members of its Board of Directors to purchase 5,000,000 shares of the Company’s common stock at $0.0011 per share. The options vest quarterly over one year, subject to continuing service as a director on each such vesting date, and expire five years after grant. Additionally, the Board of Directors granted an option to an employee to purchase 5,000,000 shares of common stock at $0.0011 per share. This option vests monthly over three years, subject to continuing service as an employee on each such vesting date, and expires five years after grant. | |||||||||||||
The fair value of stock option grants is estimated on the date of grant using the Black-Scholes option pricing model. The weighted-average fair value of stock options granted during the year ended November 30, 2014 was $0.0007 per share. The weighted-average assumptions used for options granted during the year ended November 30, 2014 were risk-free interest rate of 1.68%, volatility of 140%, expected life of 5.0 years, and dividend yield of zero. The weighted-average fair value of stock options granted during the year ended November 30, 2013 was $0.0011. The weighted-average assumptions used for options granted during the year ended November 30, 2013 were risk-free interest rate of 1.6%, volatility of 175%, expected life of 5.0 years, and dividend yield of zero. The assumptions employed in the Black-Scholes option pricing model include the following. The expected life of stock options represents the period of time that the stock options granted are expected to be outstanding prior to exercise. The expected volatility is based on the historical price volatility of MultiCell’s common stock. The risk-free interest rate represents the U.S. Treasury constant maturities rate for the expected life of the related stock options. The dividend yield represents anticipated cash dividends to be paid over the expected life of the stock options. | |||||||||||||
For the years ended November 30, 2014 and 2013, MultiCell reported stock-based compensation expense for services related to stock options of $37,712 and $18,586, respectively. As of November 30, 2014, there is approximately $7,000 of unrecognized compensation cost related to stock-based payments that will be recognized over a weighted average period of approximately 1.3 years. The intrinsic values at November 30, 2014 are based on a closing price of $0.0005. | |||||||||||||
In October 2010, Xenogenics adopted the 2010 Stock Incentive Plan (the “2010 Plan”) which authorized the granting of stock awards to Xenogenics’ employees, directors, and consultants. As originally adopted, the 2010 Plan provided that the number of shares of Xenogenics’ common stock that could be issued pursuant to stock awards could not exceed 5,000,000 shares of common stock. On February 3, 2011, the 2010 Plan was amended such that the number of shares of Xenogenics’ common stock that could be issued pursuant to stock awards could not exceed 8,000,000 shares of common stock. The purpose of the 2010 Plan is to provide a means by which eligible recipients of stock awards may be given the opportunity to benefit from increases in the value of Xenogenics’ common stock through granting of ISOs, non-statutory stock options, stock bonus awards, stock appreciation rights, and rights to acquire restricted stock. ISOs may be granted only to employees. The exercise price of each ISO granted under the 2010 Plan must equal 100% of the market price of Xenogenics’ stock on the date of the grant. A 10% stockholder shall not be granted an ISO unless the exercise price of such option is at least 110% of the fair market value of Xenogenics’ common stock on the date of the grants and the option is not exercisable after the expiration of five years from the date of the grant. The Board of Directors of Xenogenics, in its discretion, shall determine the exercise price of each nonstatutory stock option. An option’s maximum term is 10 years. | |||||||||||||
A summary of the status of Xenogenics’ stock options at November 30, 2014 and 2013, and changes during the years then ended is presented in the following table: | |||||||||||||
Weighted | |||||||||||||
Weighted | Average | ||||||||||||
Shares | Average | Remaining | |||||||||||
Under | Exercise | Contractual | |||||||||||
Option | Price | Life | |||||||||||
Outstanding at November 30, 2012 | 5,000,000 | $ | 0.248 | 3.3 years | |||||||||
Granted | 500,000 | 0.246 | |||||||||||
Exercised | - | - | |||||||||||
Expired or forfeited | -1,250,000 | 0.253 | |||||||||||
Outstanding at November 30, 2013 | 4,250,000 | $ | 0.246 | 2.3 years | |||||||||
Granted | - | - | |||||||||||
Exercised | - | - | |||||||||||
Expired or forfeited | -3,000,000 | 0.246 | |||||||||||
Outstanding at November 30, 2014 | 1,250,000 | $ | 0.246 | 2.2 years | |||||||||
Exercisable at November 30, 2014 | 1,250,000 | $ | 0.246 | 2.2 years | |||||||||
On July 28, 2013, Xenogenics granted an option to a consultant to purchase 500,000 shares of Xenogenics’ common stock at $0.246 per share. The option vests in equal increments of 125,000 on each of July 28, 2013, October 1, 2013, January 1, 2014, and April 1, 2014, subject to continuing service to Xenogenics on each such vesting date, and expires five years after grant. The fair value of these options was estimated to be $117,000, or $0.234 per share, as estimated using the Black-Scholes option-pricing model, using a risk-free interest rate of 1.37%, volatility of 175%, expected lives of five years, and dividend yield of zero. | |||||||||||||
In November 2010, Xenogenics granted an option to a prospective executive officer to purchase an aggregate of 2,500,000 shares of its common stock, exercisable at $0.246 per share of common stock and having an expiration date in November 2015. The option to acquire 500,000 of the shares vested on the grant date and the remaining 2,000,000 option shares were to vest in the future upon the achievement of specified milestones. The fair value of these options was estimated to be $576,250, or $0.2305 per share, as estimated using the Black-Scholes option-pricing model, using a risk-free interest rate of 1.23%, volatility of 165%, expected life of five years, and dividend yield of zero. This prospective executive officer resigned in May 2014 and the rights under this option were forfeited in August 2014. At the date of the forfeiture, only the initial option to acquire 500,000 shares had vested, and the remaining 2,000,000 option shares remained unvested because the specified milestones had not been achieved. The share-based compensation related to these 2,000,000 option shares ($461,000) had been recognized over the periods of time, originally estimated on the date of grant, that management expected each of the specified milestones was likely to be achieved. As of the date of forfeiture, all of the share-based compensation related to these performance-based options had been recognized in the consolidated financial statements. Under GAAP, if vesting is based solely on one or more performance or service conditions, any previously recognized compensation cost is reversed if the award does not vest (that is, the requisite service is not rendered). Accordingly, Xenogenics reversed the compensation cost for these options in the amount of $461,000 during the year ended November 30, 2014 when the options were forfeited. | |||||||||||||
For the year ended November 30, 2014, Xenogenics reported a net reversal of stock-based compensation in the amount $417,838, representing stock-based compensation of $43,162 less the reversal of $461,000. For the year ended November 30 2013, Xenogenics reported stock-based compensation of $205,087. As of November 30, 2014, there was no unrecognized compensation cost related to stock-based payments to be recognized in the future for option grants through November 30, 2014. | |||||||||||||
Warrants
Warrants | 12 Months Ended | ||||||||||||
Nov. 30, 2014 | |||||||||||||
Warrants and Rights Note Disclosure [Abstract] | |||||||||||||
Warrants Disclosure [Text Block] | Note 12 – Warrants | ||||||||||||
Since the Company’s inception, it has financed its operations primarily through the issuance of debt or equity instruments, which have often included the issuance of warrants to purchase the Company’s common stock. | |||||||||||||
As further described in Note 5 to these consolidated financial statements, MultiCell entered into the LJCI Agreement, pursuant to which MultiCell agreed to sell the Debenture in the principal amount of $100,000. In connection with the Debenture, MultiCell issued LJCI a warrant to purchase up to 10 million shares of MultiCell’s common stock at an exercise price of $1.09 per share, exercisable over the next five years according to a schedule described in a letter agreement dated February 28, 2007. Pursuant to the terms of the LJCI Warrant, upon the conversion of any portion of the principal amount of the Debenture, LJCI is required to simultaneously exercise and purchase that same percentage of the warrant shares equal to the percentage of the dollar amount of the Debenture being converted. Therefore, as an example, for each $1,000 of the Debenture converted, LJCI would be required to simultaneously purchase 100,000 shares under the LJCI Warrant at $1.09 per share. As further described in Note 5 to these consolidated financial statements, on February 20, 2014, MultiCell and LJCI amended the LJCI Warrant to extend the expiration date of the warrants to February 28, 2016. During the year ended November 30, 2013, LJCI exercised warrants to purchase 1,088,000 shares of MultiCell’s common stock, resulting in proceeds to the Company of $1,185,920. During the year ended November 30, 2014, LJCI exercised warrants to purchase 872,000 shares of MultiCell’s common stock, resulting in proceeds to the Company of $950,480. | |||||||||||||
A summary of the status of warrants at November 30, 2014 and 2013, and changes during the years then ended is presented in the following table: | |||||||||||||
Weighted | |||||||||||||
Weighted | Average | ||||||||||||
Shares | Average | Remaining | Aggregate | ||||||||||
Under | Exercise | Contractual | Intrinsic | ||||||||||
Warrants | Price | Life | Value | ||||||||||
Outstanding at November 30, 2012 | 9,277,030 | $ | 0.75 | 2.2 years | $ | - | |||||||
Issued | - | - | |||||||||||
Exercised | -1,088,000 | 1.09 | |||||||||||
Expired | -360,000 | 0.5 | |||||||||||
Outstanding at November 30, 2013 | 7,829,030 | $ | 0.72 | 1.5 years | $ | - | |||||||
Issued | - | - | |||||||||||
Exercised | -872,000 | 1.09 | |||||||||||
Expired | -134,000 | 0.5 | |||||||||||
Outstanding at November 30, 2014 | 6,823,030 | $ | 0.68 | 1.7 years | $ | - | |||||||
Leasing_Arrangements
Leasing Arrangements | 12 Months Ended |
Nov. 30, 2014 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | Note 13 – Leasing Arrangements |
During the years ended November 30, 2014 and 2013, the Company has leased facilities in Rhode Island that have housed activities related to administration, research and development. The Company currently leases space in Rhode Island under month-to-month arrangement. Current rent is $900 per month. Rent expense under the Company’s operating leases was $10,800 for each of the years ended November 30, 2014 and 2013, respectively. | |
Gain_on_Extinguishment_of_Liab
Gain on Extinguishment of Liabilities | 12 Months Ended |
Nov. 30, 2014 | |
Debt Disclosure [Abstract] | |
Short-term Debt [Text Block] | Note 14 – Gain on Extinguishment of Liabilities |
During the year ended November 30, 2014, the Company determined that recorded accounts payable totaling $212,294 had been extinguished with the passage of time for collection under the laws related to the statute of limitations. Accordingly, the Company removed these accounts from their records and recorded a corresponding gain on the extinguishment of the liabilities. There was no similar extinguishment of liabilities during the year ended November 30, 2013. | |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||
Nov. 30, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Income Tax Disclosure [Text Block] | Note 15 – Income Taxes | |||||||
The Company provides for income taxes using an asset and liability based approach. Deferred income tax assets and liabilities are recorded to reflect the tax consequences of temporary differences between the financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The significant components of net deferred tax assets and liabilities were as follows at November 30, 2014 and 2013: | ||||||||
2014 | 2013 | |||||||
Operating loss carry forwards | $ | 10,474,462 | $ | 10,174,348 | ||||
Stock-based compensation | 236,227 | 428,880 | ||||||
Ideal Bio-Stent related intellectual property | 112,889 | 165,565 | ||||||
Deferred revenue | 179,769 | 199,496 | ||||||
Other | 320 | 450 | ||||||
Valuation allowance | -11,003,667 | -10,968,739 | ||||||
Net Deferred Tax Assets | $ | - | $ | - | ||||
The valuation allowance increased by $34,928 for the year ended November 30, 2014 and increased by $181,262 during the year ended November 30, 2013. | ||||||||
As of November 30, 2014, the Company has U.S. Federal operating loss carryforwards of approximately $26.2 million. The operating losses expire, if not used, from 2015 through 2034. The utilization of the net operating losses is dependent upon the tax laws in effect at the time such losses can be utilized. A significant change of ownership control of the Company could cause the utilization of net operating losses to be limited. | ||||||||
A reconciliation of the expected income tax benefit at the U.S. Federal income tax rate to the income tax benefit actually recognized for the years ended November 30, 2014 and 2013 is set forth below: | ||||||||
2014 | 2013 | |||||||
Benefit at federal statutory rate (34%) | $ | -179,801 | $ | -465,607 | ||||
State income tax benefit, net of federal tax | -30,954 | -81,341 | ||||||
Change in fair value of derivative liability | 2,579 | -373 | ||||||
Expiration of operating loss carry forwards | 132,781 | 232,303 | ||||||
Forfeiture of non-qualified stock options | 40,602 | 134,188 | ||||||
Other differences | -135 | -432 | ||||||
Change in valuation allowance | 34,928 | 181,262 | ||||||
Benefit from Income Taxes | $ | - | $ | - | ||||
MultiCell and its subsidiaries file tax returns in the U.S. Federal jurisdiction, in the state of Rhode Island, and formerly in the state of California. The Company and its subsidiaries are no longer subject to U.S. federal tax examinations for tax years before and including November 30, 2010. The Company and its subsidiaries are no longer subject to examination by State tax authorities for tax years before and including November 30, 2008. During the years ended November 30, 2014 and 2013, the Company did not recognize interest and penalties. | ||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||||
Nov. 30, 2014 | ||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||
Fair Value Disclosures [Text Block] | Note 16 – Fair Value Measurements | |||||||||||||||||||||||||
For assets and liabilities measured at fair value, the Company uses the following hierarchy of inputs: | ||||||||||||||||||||||||||
• | Level one — Quoted market prices in active markets for identical assets or liabilities; | |||||||||||||||||||||||||
• | Level two — Inputs other than level one inputs that are either directly or indirectly observable; and | |||||||||||||||||||||||||
• | Level three — Unobservable inputs developed using estimates and assumptions, which are developed by the Company and reflect those assumptions that a market participant would use. | |||||||||||||||||||||||||
Liabilities measured at fair value on a recurring basis at November 30, 2014 and 2013 are summarized as follows: | ||||||||||||||||||||||||||
November 30, 2014 | November 30, 2013 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||
Derivative liability | $ | - | $ | 25,731 | $ | - | $ | 25,731 | $ | - | $ | 18,147 | $ | - | $ | 18,147 | ||||||||||
As further described in Note 7, the fair value of the derivative liability is determined using the Black-Scholes pricing model. | ||||||||||||||||||||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Nov. 30, 2014 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 17 – Subsequent Events |
Conversion of Debentures and Exercise of Stock Warrants | |
During the period subsequent to November 30, 2014 through the date of issuance of the consolidated financial statements, LJCI converted $ 700 of the Debenture with LJCI (see Note 5) into 310,578,148 shares of common stock. Simultaneously with these conversions, LJCI exercised warrants to purchase 70,000 shares of MultiCell’s common stock. Proceeds from the exercise of the warrants were $ 76,300. | |
Organization_and_Summary_of_Si1
Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Nov. 30, 2014 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation and Basis of Presentation – The accompanying consolidated financial statements of MultiCell Technologies Inc. and its subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America and include the assets, liabilities, revenues and expenses of all majority-owned subsidiaries over which MultiCell exercises control. All significant intercompany balances and transactions have been eliminated in consolidation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents – The Company considers all unrestricted highly liquid investments purchased with a maturity of three months or less to be cash equivalents. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments – The carrying amounts of cash and cash equivalents, accounts payable, accrued expenses, payable to related party, and advance from debenture holder approximate fair value because of the short-term maturity or demand features of those instruments. The fair value of convertible debentures was approximately $36,426 and $45,146 at November 30, 2014 and 2013, respectively. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Credit Risk – It is the Company’s practice to place its cash equivalents in high quality money market securities with major banking institutions. Periodically, the Company maintains cash balances at this institution that exceeds the Federal Deposit Insurance Corporation insurance limit of $250,000 per bank. The Company considers its credit risk associated with cash and cash equivalents to be minimal. The Company does not require collateral from its customers. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition – In the years covered by these consolidated financial statements, the Company's operating revenues have been generated primarily from license revenue under agreements with Corning Incorporated (“Corning”) and Pfizer Inc. Management believes such sources of revenue will be part of the Company's ongoing operations. When applicable, the Company recognizes revenue from licensing and research agreements as services are performed, provided a contractual arrangement exists, the contract price is fixed or determinable and the collection of the contractual amounts is reasonably assured. In situations where the Company receives payment in advance of the performance of services, such amounts are deferred and recognized as revenue as the related services are performed. Deferred revenues associated with services expected to be performed within the 12 - month period subsequent to the balance sheet date are classified as a current liability. Deferred revenues associated with services expected to be performed at a later date are classified as non-current liabilities. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment – Property and equipment are recorded at cost. Depreciation of property and equipment is provided using the straight-line method over the estimated useful lives of the assets, generally three to ten years. As of November 30, 2014 and 2013, all property and equipment is fully depreciated. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets– The impairment of long-lived assets that do not have indefinite lives, such as equipment, patents, and license agreements, is recognized when events or changes in circumstances indicate that the undiscounted cash flows estimated to be generated by such assets are less than their carrying value and, accordingly, all or a portion of such carrying value may not be recoverable. Impairment losses are then measured by comparing the fair value of assets to their carrying amounts. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock Based Compensation– The Company has stockholder-approved stock incentive plans for employees, directors, officers and consultants. The Company recognizes compensation expense for stock-based awards to employees expected to vest on a straight-line basis over the requisite service period of the award, based on their grant-date fair value. The Company estimates the fair value of stock options using the Black-Scholes option-pricing model, which requires management to make estimates for certain assumptions regarding risk-free interest rate, expected life of options, expected volatility of stock, and expected dividend yield of stock. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs– Research and development costs are expensed as incurred. Research and development costs primarily consist of external clinical and preclinical study costs, consulting fees, legal fees and patent costs associated with the Company’s intellectual property, and materials and supplies. The Company expenses patent application and maintenance costs for drug candidates or medical devices that have not received regulatory approval and do not have an alternative future use. |
Income Tax, Policy [Policy Text Block] | Income Taxes – Deferred income taxes are provided for the estimated tax effects of temporary differences between income for tax and financial reporting purposes. A valuation allowance is provided against deferred tax assets, where realization is uncertain. Assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the “more-likely-than-not” threshold based on the technical merits of the positions. Estimated interest and penalties related to uncertain tax positions are included as a component of selling, general and administrative expense. |
Earnings Per Share, Policy [Policy Text Block] | Loss Per Common Share – Basic loss per common share is computed by dividing the net loss applicable to common stockholders by the weighted average common shares outstanding during each period. Since the Company incurred losses during the years ended November 30, 2014 and 2013, the assumed effects of the exercise of outstanding stock options and warrants, and the conversion of convertible preferred stock and convertible debentures would be anti-dilutive and, accordingly, diluted loss per common share amounts equal basic loss per share amounts and have not been separately presented in the accompanying consolidated statements of operations. The total number of common shares potentially issuable upon exercise or conversion excluded from the calculation of diluted loss per common share for the years ended November 30, 2014 and 2013 was 12,645,810,542 and 10,429,984,310, respectively. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the dates of these financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Risks and Uncertainties [Policy Text Block] | Risks and Uncertainties – The Company is dependent on continued financing from investors and obtaining new research grants to sustain the development and other activities necessary to commercialize new products. Management is seeking additional financing in order to fund its future activities. There is no assurance, however, that such financing will be available, if and when needed, or if available, that such financing will be completed on commercially favorable terms, or that such development and other activities in connection with its planned products will be successful. |
Accounting for Warrants Issued with Convertible Debentures [Policy Text Block] | Accounting For Warrants Issued With Convertible Debentures– The Company accounts for the value of warrants and the intrinsic value of beneficial conversion rights arising from the issuance of convertible debentures with non-detachable conversion rights that are in-the-money at the commitment date by allocating an appropriate portion of the proceeds received from the debt instruments to the warrants or any other detachable instruments included in the exchange. The proceeds allocated to the warrants or any other detachable instruments are recorded as a discount to the debt. The intrinsic value of the beneficial conversion rights at the commitment date is recorded as additional paid-in capital and as additional discount to the debt as of that date. The discount has been amortized and charged to interest expense over the original term of the debt instrument. |
Derivative Liability [Policy Text Block] | Derivative Liability– The Company accounts for the conversion feature of its Series B preferred stock as a derivative liability. The fair value of the conversion feature is estimated using the Black-Scholes option-pricing model. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Enacted Accounting Standards– In August 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update 2014-15, Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern, (“ASU 2014-15”). ASU 2014-15 requires management to perform interim and annual assessments on whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year of the date the financial statements are issued and to provide related disclosures, if required. ASU 2014-15 will be effective for the Company’s fiscal year beginning December 1, 2016 and subsequent interim periods. Management is currently evaluating the impact of the pending adoption of ASU 2014-15 on the Company’s consolidated financial statements. |
In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which stipulates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 will be effective for the Company retrospectively beginning December 1, 2017, with early adoption not permitted. Management is currently evaluating the impact of the pending adoption of ASU 2014-09 on the Company’s consolidated financial statements. | |
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”) to provide guidance on the presentation of unrecognized tax benefits. ASU 2013-11 requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows: to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 is effective January 1, 2015 with earlier adoption permitted. ASU 2013-11 should be applied prospectively with retroactive application permitted. Management is currently evaluating the impact of the pending adoption of ASU 2013-11 on the Company’s consolidated financial statements. | |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||
Nov. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment [Table Text Block] | Property and equipment are recorded at cost, less accumulated depreciation, and is comprised of the following at November 30, 2014 and 2013: | |||||||
2014 | 2013 | |||||||
Lab Equipment | $ | 14,322 | $ | 14,717 | ||||
Furniture and Office Equipment | 25,844 | 25,844 | ||||||
40,166 | 40,561 | |||||||
Less: Accumulated depreciation | -40,166 | -40,561 | ||||||
Property and Equipment, Net | $ | - | $ | - | ||||
Series_B_Convertible_Preferred1
Series B Convertible Preferred Stock (Tables) | 12 Months Ended | ||||||||
Nov. 30, 2014 | |||||||||
Series B Convertible Preferred Stock [Abstract] | |||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | The fair value of the conversion feature was estimated at $25,731 ($0.0005 per share of common stock) and $18,147 ($0.0006 per share of common stock) at November 30, 2014 and 2013, respectively, and has been estimated using the Black-Scholes option-pricing model using the following assumptions: | ||||||||
November 30, 2014 | November 30, 2013 | ||||||||
Fair value of common stock | $ | 0.0005 | $ | 0.0007 | |||||
Conversion price of preferred stock | $ | 0.0067 | $ | 0.0114 | |||||
Risk free interest rate | 2.18 | % | 2.75 | % | |||||
Expected life | 10 Years | 10 Years | |||||||
Dividend yield | - | - | |||||||
Volatility | 143 | % | 142 | % | |||||
Common_Stock_Tables
Common Stock (Tables) | 12 Months Ended | |||||||
Nov. 30, 2014 | ||||||||
Equity [Abstract] | ||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | The potential issuable common shares as of November 30, 2014 and 2013 are as follows: | |||||||
2014 | 2013 | |||||||
Warrants | 6,823,030 | 7,829,030 | ||||||
Stock options | 69,630,266 | 50,399,503 | ||||||
Series B convertible preferred stock | 51,462,687 | 30,245,614 | ||||||
Convertible debenture | 12,517,894,559 | 10,341,510,163 | ||||||
12,645,810,542 | 10,429,984,310 | |||||||
Stock_Compensation_Plans_Table
Stock Compensation Plans (Tables) | 12 Months Ended | ||||||||||||
Nov. 30, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of the status of stock options granted by MultiCell at November 30, 2014 and 2013, and changes during the years then ended is presented in the following table: | ||||||||||||
Weighted | |||||||||||||
Weighted | Average | ||||||||||||
Shares | Average | Remaining | Aggregate | ||||||||||
Under | Exercise | Contractual | Intrinsic | ||||||||||
Option | Price | Life | Value | ||||||||||
Outstanding at November 30, 2012 | 26,068,947 | $ | 0.0084 | 3.1 years | $ | - | |||||||
Granted | 30,000,000 | 0.0011 | |||||||||||
Exercised | - | - | |||||||||||
Expired or forfeited | -5,669,444 | 0.009 | |||||||||||
Outstanding at November 30, 2013 | 50,399,503 | $ | 0.004 | 3.7 years | $ | - | |||||||
Granted | 25,074,710 | 0.0008 | |||||||||||
Exercised | - | - | |||||||||||
Expired or forfeited | -5,843,947 | 0.0135 | |||||||||||
Outstanding at November 30, 2014 | 69,630,266 | $ | 0.002 | 3.4 years | $ | - | |||||||
Exercisable at November 30, 2014 | 58,992,975 | $ | 0.0022 | 3.3 years | $ | - | |||||||
Xenogenics Corporation [Member] | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of the status of Xenogenics’ stock options at November 30, 2014 and 2013, and changes during the years then ended is presented in the following table: | ||||||||||||
Weighted | |||||||||||||
Weighted | Average | ||||||||||||
Shares | Average | Remaining | |||||||||||
Under | Exercise | Contractual | |||||||||||
Option | Price | Life | |||||||||||
Outstanding at November 30, 2012 | 5,000,000 | $ | 0.248 | 3.3 years | |||||||||
Granted | 500,000 | 0.246 | |||||||||||
Exercised | - | - | |||||||||||
Expired or forfeited | -1,250,000 | 0.253 | |||||||||||
Outstanding at November 30, 2013 | 4,250,000 | $ | 0.246 | 2.3 years | |||||||||
Granted | - | - | |||||||||||
Exercised | - | - | |||||||||||
Expired or forfeited | -3,000,000 | 0.246 | |||||||||||
Outstanding at November 30, 2014 | 1,250,000 | $ | 0.246 | 2.2 years | |||||||||
Exercisable at November 30, 2014 | 1,250,000 | $ | 0.246 | 2.2 years | |||||||||
Warrants_Tables
Warrants (Tables) | 12 Months Ended | ||||||||||||
Nov. 30, 2014 | |||||||||||||
Warrants and Rights Note Disclosure [Abstract] | |||||||||||||
Schedule of Share-based Compensation Award, Shares Under Warrants [Table Text Block] | A summary of the status of warrants at November 30, 2014 and 2013, and changes during the years then ended is presented in the following table: | ||||||||||||
Weighted | |||||||||||||
Weighted | Average | ||||||||||||
Shares | Average | Remaining | Aggregate | ||||||||||
Under | Exercise | Contractual | Intrinsic | ||||||||||
Warrants | Price | Life | Value | ||||||||||
Outstanding at November 30, 2012 | 9,277,030 | $ | 0.75 | 2.2 years | $ | - | |||||||
Issued | - | - | |||||||||||
Exercised | -1,088,000 | 1.09 | |||||||||||
Expired | -360,000 | 0.5 | |||||||||||
Outstanding at November 30, 2013 | 7,829,030 | $ | 0.72 | 1.5 years | $ | - | |||||||
Issued | - | - | |||||||||||
Exercised | -872,000 | 1.09 | |||||||||||
Expired | -134,000 | 0.5 | |||||||||||
Outstanding at November 30, 2014 | 6,823,030 | $ | 0.68 | 1.7 years | $ | - | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||
Nov. 30, 2014 | ||||||||
Income Tax Disclosure [Abstract] | ||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The significant components of net deferred tax assets and liabilities were as follows at November 30, 2014 and 2013: | |||||||
2014 | 2013 | |||||||
Operating loss carry forwards | $ | 10,474,462 | $ | 10,174,348 | ||||
Stock-based compensation | 236,227 | 428,880 | ||||||
Ideal Bio-Stent related intellectual property | 112,889 | 165,565 | ||||||
Deferred revenue | 179,769 | 199,496 | ||||||
Other | 320 | 450 | ||||||
Valuation allowance | -11,003,667 | -10,968,739 | ||||||
Net Deferred Tax Assets | $ | - | $ | - | ||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | A reconciliation of the expected income tax benefit at the U.S. Federal income tax rate to the income tax benefit actually recognized for the years ended November 30, 2014 and 2013 is set forth below: | |||||||
2014 | 2013 | |||||||
Benefit at federal statutory rate (34%) | $ | -179,801 | $ | -465,607 | ||||
State income tax benefit, net of federal tax | -30,954 | -81,341 | ||||||
Change in fair value of derivative liability | 2,579 | -373 | ||||||
Expiration of operating loss carry forwards | 132,781 | 232,303 | ||||||
Forfeiture of non-qualified stock options | 40,602 | 134,188 | ||||||
Other differences | -135 | -432 | ||||||
Change in valuation allowance | 34,928 | 181,262 | ||||||
Benefit from Income Taxes | $ | - | $ | - | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Nov. 30, 2014 | ||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Liabilities measured at fair value on a recurring basis at November 30, 2014 and 2013 are summarized as follows: | |||||||||||||||||||||||||
November 30, 2014 | November 30, 2013 | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||
Derivative liability | $ | - | $ | 25,731 | $ | - | $ | 25,731 | $ | - | $ | 18,147 | $ | - | $ | 18,147 | ||||||||||
Organization_and_Summary_of_Si2
Organization and Summary of Significant Accounting Policies (Details Textual) (USD $) | 12 Months Ended | ||
Nov. 30, 2014 | Nov. 30, 2013 | Aug. 15, 2014 | |
Accounting Policies [Line Items] | |||
Convertible Debt, Fair Value Disclosures | $36,426 | $45,146 | |
Cash, FDIC Insured Amount | 250,000 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 12,645,810,542 | 10,429,984,310 | |
Xenogenics Corporation [Member] | |||
Accounting Policies [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 95.30% | ||
Multicell Immunotherapeutics [Member] | |||
Accounting Policies [Line Items] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 85.10% | 67.00% | |
Conversion of Inter Company Liabilities into Common Stock | $1,165,867 |
Going_Concern_Details_Textual
Going Concern (Details Textual) (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Going Concern [Line Items] | ||
Accumulated Deficit | $46,134,117 | $43,489,211 |
Convertible Debt | 45,146 | |
La Jolla Cove Investors [Member] | ||
Going Concern [Line Items] | ||
Investment Warrants, Exercise Price | $1.09 | |
Shares Remaining under Stock Warrant | 3,642,629 | |
Convertible Debt | 36,426 | |
Potential Proceeds from Warrant Exercises | $3,970,000 | |
Debt Instrument, Convertible Percentage of Equity Instruments, Maximum | 9.99% | |
Investment Warrants Expiration Date | 28-Feb-16 |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | Nov. 30, 2014 | Nov. 30, 2013 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $40,166 | $40,561 |
Less: Accumulated depreciation | -40,166 | -40,561 |
Property and Equipment, Net | 0 | 0 |
Lab Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 14,322 | 14,717 |
Furniture and Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $25,844 | $25,844 |
Property_and_Equipment_Details1
Property and Equipment (Details Textual) (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Property, Plant and Equipment [Line Items] | ||
Depreciation | $0 | $0 |
Payable_to_Related_Party_Detai
Payable to Related Party (Details Textual) (USD $) | Nov. 30, 2014 | Nov. 30, 2013 | Sep. 30, 2005 |
Related Party Transaction [Line Items] | |||
Due To Related Parties, Current | $50,000 | $50,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $200,000 |
Convertible_Debenture_Details_
Convertible Debenture (Details Textual) (USD $) | 1 Months Ended | 0 Months Ended | 12 Months Ended | |
Feb. 20, 2014 | Aug. 16, 2011 | Nov. 30, 2014 | Nov. 30, 2013 | |
Convertible Debentures [Line Items] | ||||
Debt Conversion, Original Debt, Interest Rate of Debt | 4.75% | 4.75% | ||
Debentures Converted, Value | $8,720 | $10,880 | ||
Potential Issuable Shares Under Convertible Debenture | 12,500,000,000 | |||
Proceeds from Warrant Exercises | 950,480 | 1,185,920 | ||
Advance from warrant holder | 166,150 | 61,950 | ||
Convertible Debt | 45,146 | |||
Warrant [Member] | ||||
Convertible Debentures [Line Items] | ||||
Stock Issued During Period, Shares, Exercise of Warrants | 872,000 | 1,088,000 | ||
Proceeds from Warrant Exercises | 950,480 | 1,185,920 | ||
Common Stock [Member] | ||||
Convertible Debentures [Line Items] | ||||
Debentures Converted, Value | 19,411,351 | 12,599,025 | ||
Debentures Converted, Shares | 1,941,135,049 | 1,259,902,474 | ||
Stock Issued During Period, Shares, Exercise of Warrants | 872,000 | 1,088,000 | ||
La Jolla Cove Investors [Member] | ||||
Convertible Debentures [Line Items] | ||||
Securities Purchase, Agreement Date | 28-Feb-07 | |||
Proceeds from Convertible Debenture, Principal Amount | 100,000 | |||
Debt Conversion, Original Debt, Due Date of Debt | 28-Feb-12 | |||
Debt Instrument, Maturity Date | 28-Feb-16 | 28-Feb-14 | ||
Warrants Issued Number | 10,000,000 | |||
Class of Warrant, Exercisable Period | 5 years | |||
Exercise of Warrant upon Conversion of Debt | each $1,000 of the principal converted, LJCI would be required to simultaneously purchase 100,000 shares under the LJCI Warrant at $1.09 per share | |||
Maximum Conversion Limit of Debt | The Conversion price is equal to the lesser of $1.00 or 80% of the average of the three lowest volume-weighted average prices during the twenty trading days prior to the election to convert. | |||
Debentures Converted, Value | 8,720 | 10,880 | ||
Number of Warrants, Remaining Unexercised | 3,642,629 | |||
Investment Warrants, Exercise Price | $1.09 | |||
Equity Method Investment, Ownership Percentage | 9.99% | |||
Convertible Debt | $36,426 | |||
La Jolla Cove Investors [Member] | Common Stock [Member] | ||||
Convertible Debentures [Line Items] | ||||
Debentures Converted, Shares | 1,941,135,049 | 1,259,902,474 |
Deferred_Revenue_Details_Textu
Deferred Revenue (Details Textual) (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Corning Incorporated [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred Revenue, Revenue Recognized | $44,118 | $44,118 |
Deferred Revenue | 433,824 | 477,942 |
Deferred Revenue, Amortization Period | 2024-10 | |
Income Recognition Period | 17 years | |
Corning Incorporated [Member] | Execution Of Licence Agreement [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
License and Maintenance Revenue | 375,000 | |
Corning Incorporated [Member] | Completion Of Licence Agreement [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
License and Maintenance Revenue | 375,000 | |
Pfizer Incorporated [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred Revenue, Revenue Recognized | 5,200 | 5,200 |
Deferred Revenue | $15,600 | $20,800 |
Deferred Revenue, Amortization Period | 2018-01 |
Series_B_Convertible_Preferred2
Series B Convertible Preferred Stock (Details) (Series B Preferred Stock [Member], USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Series B Preferred Stock [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair value of common stock | $0.00 | $0.00 |
Conversion price of preferred stock | $0.01 | $0.01 |
Risk free interest rate | 2.18% | 2.75% |
Expected life | 10 years | 10 years |
Dividend yield | 0.00% | 0.00% |
Volatility | 143.00% | 142.00% |
Series_B_Convertible_Preferred3
Series B Convertible Preferred Stock (Details Textual) (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Series B Redeemable Convertible Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 963,000 | 963,000 |
Preferred Stock, Dividend Payment Rate | Company was required to pay on each outstanding share of Series B convertible preferred stock a preferential cumulative dividend at an annual rate equal to the product of multiplying $100 per share by the higher of (i) the Wall Street Journal Prime Rate plus 1%, or (ii) 9%. In no event was the dividend rate to be greater than 12% per annum. | |
Dividends Payable | $290,724 | $290,724 |
Fair Value of Embedded Conversion Feature, per share | $0.00 | $0.00 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Derivative Liability | 25,731 | 18,147 |
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | -7,584 | 1,098 |
Board of Directors Chairman [Member] | ||
Series B Redeemable Convertible Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 1,000,000 | |
Series B Preferred Stock [Member] | ||
Series B Redeemable Convertible Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 17,000 | 17,000 |
Preferred Stock, Purchase Price, Per Share, Value | $100 | |
Preferred Stock, Original Conversion Price | $0.32 | |
Reduced Conversion Price Percentage | 85.00% | |
Preferred Stock Reduced Conversion Price | $0.01 | $0.01 |
Dividends Payable Included in Permanent Equity | 125,516 | 125,516 |
Dividends Payable, Included in Accounts Payable and Accrued Expenses | $165,208 | $165,208 |
Preferred Stock, Shares Outstanding | 3,448 | 3,448 |
Common Class [Member] | ||
Series B Redeemable Convertible Stock [Line Items] | ||
Convertible Preferred Stock, Shares Issuable upon Conversion | 51,462,687 | 30,245,614 |
Series_I_Convertible_Preferred1
Series I Convertible Preferred Stock (Details Textual) (USD $) | Nov. 30, 2014 | Nov. 30, 2013 |
Series I Redeemable Convertible Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 963,000 | 963,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Accredited Investors [Member] | ||
Series I Redeemable Convertible Stock [Line Items] | ||
Preferred Stock, Shares Issued | 20,000 | |
Series I Convertible Preferred Stock [Member] | ||
Series I Redeemable Convertible Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 20,000 | 20,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock Purchase Price Per Share Value | 100 | |
Board of Directors Chairman [Member] | ||
Series I Redeemable Convertible Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 1,000,000 |
Common_Stock_Details
Common Stock (Details) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 12,645,810,542 | 10,429,984,310 |
Equity Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 69,630,266 | 50,399,503 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 6,823,030 | 7,829,030 |
Series B Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 51,462,687 | 30,245,614 |
Convertible Debenture [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 12,517,894,559 | 10,341,510,163 |
Common_Stock_Details_Textual
Common Stock (Details Textual) (USD $) | Nov. 30, 2014 | Nov. 30, 2013 | Nov. 15, 2013 |
Common Stock [Line Items] | |||
Common Stock, Shares Authorized | 5,000,000,000 | 5,000,000,000 | 5,000,000,000 |
Convertible Debt | $45,146 | ||
La Jolla Cove Investors [Member] | |||
Common Stock [Line Items] | |||
Convertible Debt | 36,426 | ||
Class of Warrant or Right, Outstanding | 3,642,629 | ||
Equity Method Investment, Ownership Percentage | 9.99% |
Technology_Acquisitions_and_Li1
Technology Acquisitions and License Agreements (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | ||||
Sep. 30, 2010 | Nov. 30, 2014 | Sep. 30, 2014 | 9-May-14 | Sep. 30, 2013 | Dec. 31, 2005 | |
Xenogenics Corporation [Member] | Foreclosure Sale Agreement [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Cash Payments For Purchase Of Assets | $400,000 | |||||
Total Milestones Payments Due | 4,300,000 | |||||
Xenogenics Corporation [Member] | Rutgers License Agreement [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
License Fee Paid | 50,000 | |||||
License Maintenance Fee Payable | 50,000 | 25,000 | 25,000 | |||
Unpaid Patent Costs | 136,000 | 75,665 | ||||
Liabilities Subject to Compromise, Debt and Accrued Interest | 8,375 | |||||
Xenogenics Corporation [Member] | Milestone One [Member] | Foreclosure Sale Agreement [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Cash Payable Upon Milestones | 300,000 | |||||
Future Royalties Milestone Payments Description | (i) initiation of pivotal Generation 2 stent human clinical trials, (ii) execution of an agreement in which Xenogenics grants a third party rights to develop or exploit the purchased assets, valued at no less than $3,000,000 (including all up-front payments and the net present value of any future royalty/milestone payments), and (iii) a change of control of Xenogenics | |||||
Xenogenics Corporation [Member] | Milestone Two [Member] | Foreclosure Sale Agreement [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Cash Payable Upon Milestones | 1,000,000 | |||||
Future Royalties Milestone Payments Description | (i) regulatory approval by any regulatory authority in a European Union member country, (ii) execution of an agreement in which Xenogenics grants a third party rights to develop or exploit the purchased assets, valued at no less than $5,000,000 (including all up-front payments and the net present value of any future royalty/milestone payments); and (iii) a change of control of Xenogenics | |||||
Xenogenics Corporation [Member] | Milestone Three [Member] | Foreclosure Sale Agreement [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Cash Payable Upon Milestones | 3,000,000 | |||||
Future Royalties Milestone Payments Description | (i) regulatory approval by the U.S. Food and Drug Administration, (ii) execution of an agreement in which Xenogenics grants a third party rights to develop or exploit the purchased assets, valued at no less than $5,000,000 (including all up-front payments and the net present value of any future royalty/milestone payments); and (iii) a change of control of Xenogenics. | |||||
Amarin Neuroscience Limited [Member] | Milestone One [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Cash Payable Upon Milestones | 500,000 | |||||
Amarin Neuroscience Limited [Member] | Milestone Two [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Cash Payable Upon Milestones | 1,000,000 | |||||
Amarin Neuroscience Limited [Member] | Milestone Three [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Cash Payable Upon Milestones | 1,500,000 | |||||
Amarin Neuroscience Limited [Member] | Milestone Four [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Cash Payable Upon Milestones | 1,000,000 | |||||
Rhode Island Hospital [Member] | Scenario, Forecast [Member] | ||||||
Technology Acquisitions And License Agreements [Line Items] | ||||||
Percentage Royalty Payable | 5.00% | |||||
Maximum Payable For Royalties | $550,000 | |||||
Percentage Of Royalty Payable, After Payment Of Total Royalties | 2.00% |
Stock_Compensation_Plans_Detai
Stock Compensation Plans (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||
Aug. 16, 2013 | Nov. 30, 2014 | Nov. 30, 2013 | Nov. 30, 2012 | Nov. 30, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares Under Option, Outstanding, Beginning balance | 50,399,503 | 26,068,947 | |||
Shares Under option, Granted | 5,000,000 | 25,074,710 | 30,000,000 | ||
Shares Under Option, Exercised | 0 | 0 | |||
Shares Under option, Expired or forfeited | -5,843,947 | -5,669,444 | |||
Shares Under Option,Outstanding, Ending balance | 69,630,266 | 50,399,503 | 26,068,947 | ||
Shares Under Option,Exercisable | 58,992,975 | ||||
Weighted Average Exercise Price, Outstanding, Beginning balance | $0.00 | $0.01 | |||
Weighted Average Exercise Price, Granted (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
Weighted Average Exercise Price, Exercised (in dollars per share) | $0 | $0 | |||
Weighted Average Exercise Price, Expired or forfeited (in dollars per share) | $0.01 | $0.01 | |||
Weighted Average Exercise Price, Outstanding, Ending balance | $0.00 | $0.00 | $0.01 | ||
Weighted Average Exercise price, Exercisable (in dollars per share) | $0.00 | ||||
Weighted Average Remaining Contractual Life, Outstanding | 3 years 4 months 24 days | 3 years 8 months 12 days | 3 years 1 month 6 days | ||
Weighted Average Remaining Contractual Life, Exercisable | 3 years 3 months 18 days | ||||
Aggregate Intrinsic Value, Outstanding, Beginning balance | $0 | $0 | |||
Aggregate Intrinsic Value, Outstanding, Ending balance | 0 | 0 | 0 | ||
Aggregate Intrinsic Value, Exercisable | $0 | ||||
Xenogenics Corporation [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares Under Option, Outstanding, Beginning balance | 4,250,000 | 5,000,000 | |||
Shares Under option, Granted | 0 | 500,000 | 2,500,000 | ||
Shares Under Option, Exercised | 0 | 0 | |||
Shares Under option, Expired or forfeited | -3,000,000 | -1,250,000 | |||
Shares Under Option,Outstanding, Ending balance | 1,250,000 | 4,250,000 | 5,000,000 | ||
Shares Under Option,Exercisable | 1,250,000 | ||||
Weighted Average Exercise Price, Outstanding, Beginning balance | $0.25 | $0.25 | |||
Weighted Average Exercise Price, Granted (in dollars per share) | $0 | $0.25 | $0.25 | ||
Weighted Average Exercise Price, Exercised (in dollars per share) | $0 | $0 | |||
Weighted Average Exercise Price, Expired or forfeited (in dollars per share) | $0.25 | $0.25 | |||
Weighted Average Exercise Price, Outstanding, Ending balance | $0.25 | $0.25 | $0.25 | ||
Weighted Average Exercise price, Exercisable (in dollars per share) | $0.25 | ||||
Weighted Average Remaining Contractual Life, Outstanding | 2 years 2 months 12 days | 2 years 3 months 18 days | 3 years 3 months 18 days | ||
Weighted Average Remaining Contractual Life, Exercisable | 2 years 2 months 12 days |
Stock_Compensation_Plans_Detai1
Stock Compensation Plans (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||||||
Aug. 16, 2013 | Nov. 30, 2014 | Nov. 30, 2013 | Nov. 30, 2010 | Jan. 15, 2014 | Jul. 28, 2013 | Feb. 03, 2011 | Oct. 31, 2010 | Jul. 11, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 5,000,000 | 25,074,710 | 30,000,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $0.00 | $0.00 | $0.00 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $7,000 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 1 year 3 months 18 days | ||||||||
Closing Price Share | $0.00 | ||||||||
Allocated Share-based Compensation Expense | 37,712 | 18,586 | |||||||
Share-based Compensation, Total | -380,126 | 223,673 | |||||||
Xenogenics Corporation [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 8,000,000 | 5,000,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 500,000 | 2,500,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $0 | $0.25 | $0.25 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $0.23 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.23% | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 165.00% | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Term | 5 years | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | 461,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 100.00% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Original Terms of Plan | A 10% stockholder shall not be granted an ISO unless the exercise price of such option is at least 110% of the fair market value of Xenogenics common stock on the date of the grants and the option is not exercisable after the expiration of five years from the date of the grant. | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Option, Maximum Term | 10 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Unvested, Fair Value | 576,250 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 500,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 2,000,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | 30-Nov-15 | ||||||||
Net Reversal of Stock Based Compensation Expense | 417,838 | ||||||||
Share-based Compensation, Total | 43,162 | 205,087 | |||||||
Share-based compensation of unvested options | 461,000 | ||||||||
Director [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 5,000,000 | 4,600,000 | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $0.00 | $0.00 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $0.00 | $0.00 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.68% | 1.60% | |||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 140.00% | 175.00% | |||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Term | 5 years | 5 years | |||||||
Employee [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,074,710 | ||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $0.00 | ||||||||
Consultant [Member] | Xenogenics Corporation [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 500,000 | ||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $0.25 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $0.23 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.37% | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 175.00% | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Term | 5 years | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Unvested, Fair Value | $117,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 125,000 | ||||||||
Equity Incentive Plan 2004 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 70,974,213 |
Warrants_Details
Warrants (Details) (USD $) | 12 Months Ended | ||
Nov. 30, 2014 | Nov. 30, 2013 | Nov. 30, 2012 | |
Schedule Of Stockholders Equity Note Warrants Or Rights [Line Items] | |||
Shares Under Warrants, Outstanding , Beginning balance (in shares) | 7,829,030 | 9,277,030 | |
Shares Under Warrants, Issued (in shares) | 0 | 0 | |
Shares Under Warrants, Exercised (in shares) | -872,000 | -1,088,000 | |
Shares Under Warrants, Expired (in shares) | -134,000 | -360,000 | |
Shares Under Warrants, Outstanding, Ending balance (in shares) | 6,823,030 | 7,829,030 | 9,277,030 |
Weighted Average Exercise Price, Outstanding, Beginning balance (in dollars per share) | $0.72 | $0.75 | |
Weighted Average Exercise Price, Issued (in dollars per share) | $0 | $0 | |
Weighted Average Exercise price, Exercised (in dollars per share) | $1.09 | $1.09 | |
Weighted Average Exercise Price, Expired (in dollars per share) | $0.50 | $0.50 | |
Weighted Average Exercise Price, Outstanding, Ending balance (in dollars per share) | $0.68 | $0.72 | $0.75 |
Weighted Average Remaining Contractual Life, Outstanding | 1 year 8 months 12 days | 1 year 6 months | 2 years 2 months 12 days |
Aggregate Intrinsic Value, Outstanding, Beginning balance | $0 | $0 | |
Aggregate Intrinsic Value, Outstanding, Ending balance | $0 | $0 | $0 |
Warrants_Details_Textual
Warrants (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | |
Feb. 28, 2007 | Nov. 30, 2014 | Nov. 30, 2013 | |
Class of Warrant or Right [Line Items] | |||
Proceeds from Warrant Exercises | $950,480 | $1,185,920 | |
La Jolla Cove Investors [Member] | |||
Class of Warrant or Right [Line Items] | |||
Proceeds from Convertible Debenture, Principal Amount | 100,000 | ||
Warrants Issued Number | 10,000,000 | ||
Investment Warrants, Exercise Price | $1.09 | ||
Securities Purchase Agreement Date | 28-Feb-07 | ||
Exercise of Warrant upon Conversion of Debt | each $1,000 of the Debenture converted, LJCI would be required to simultaneously purchase 100,000 shares under the LJCI Warrant at $1.09 per share | ||
Warrant Exercised To Purchase Common Stock Shares | 872,000 | 1,088,000 | |
Proceeds from Warrant Exercises | $950,480 | $1,185,920 | |
Class Of Warrant, Exercisable Period | 5 years |
Leasing_Arrangements_Details_T
Leasing Arrangements (Details Textual) (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Operating Leased Assets [Line Items] | ||
Operating Leases, Rent Expense | $10,800 | $10,800 |
Monthly Lease Rental Expense | $900 |
Gain_on_Extinguishment_of_Liab1
Gain on Extinguishment of Liabilities (Details Textual) (USD $) | 12 Months Ended |
Nov. 30, 2014 | |
Extinguishment of Debt [Line Items] | |
Extinguishment of Debt, Gain (Loss), Net of Tax | $212,294 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Nov. 30, 2014 | Nov. 30, 2013 |
Schedule Of Deferred Tax Asset And Liabilities [Line Items] | ||
Operating loss carry forwards | $10,474,462 | $10,174,348 |
Stock-based compensation | 236,227 | 428,880 |
Ideal Bio-Stent related intellectual property | 112,889 | 165,565 |
Deferred revenue | 179,769 | 199,496 |
Other | 320 | 450 |
Valuation allowance | -11,003,667 | -10,968,739 |
Net Deferred Tax Assets | $0 | $0 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Effective Income Tax Rate Reconciliation [Line Items] | ||
Benefit at federal statutory rate (34%) | ($179,801) | ($465,607) |
State income tax benefit, net of federal tax | -30,954 | -81,341 |
Change in fair value of derivative liability | 2,579 | -373 |
Expiration of operating loss carry forwards | 132,781 | 232,303 |
Forfeiture of non-qualified stock options | 40,602 | 134,188 |
Other differences | -135 | -432 |
Change in valuation allowance | 34,928 | 181,262 |
Benefit from Income Taxes | $0 | $0 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Income Tax [Line Items] | ||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $34,928 | $181,262 |
US Federal [Member] | ||
Income Tax [Line Items] | ||
Operating Loss Carryforwards | $26,200,000 | |
Operating Loss Carry Forwards Expiration Date1 | from 2015 through 2034 | |
Effective Income Tax Rate Reconciliation, Percent | 34.00% |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Nov. 30, 2014 | Nov. 30, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | $25,731 | $18,147 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | 25,731 | 18,147 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liability | $0 | $0 |
Subsequent_Events_Details_Text
Subsequent Events (Details Textual) (USD $) | 12 Months Ended | |
Nov. 30, 2014 | Nov. 30, 2013 | |
Subsequent Event [Line Items] | ||
Proceeds from Warrant Exercises | $950,480 | $1,185,920 |
Conversion Of Debentures [Member] | ||
Subsequent Event [Line Items] | ||
Debt Conversion, Original Debt, Amount | 700 | |
Debt Conversion, Converted Instrument, Shares Issued | 310,578,148 | |
Exercise Of Stock Warrants [Member] | ||
Subsequent Event [Line Items] | ||
Warrant Exercised To Purchase Common Stock Shares | 70,000 | |
Proceeds from Warrant Exercises | $76,300 |