Liquid Media (YVRLF) 6-K 25 Apr 22 Current report (foreign) Financial data

Cover

Cover	3 Months Ended
	Feb. 28, 2022
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Feb. 28, 2022
Current Fiscal Year End Date	--11-30
Entity File Number	000-19884
Entity Registrant Name	LIQUID MEDIA GROUP LTD.
Entity Central Index Key	0000884247
Entity Address, Address Line One	67 East 57th Avenue
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V5T 1G7

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Financial Position (Unaudited) - USD ($)	Feb. 28, 2022	Nov. 30, 2021
Current assets
Cash	$ 3,574,605	$ 4,305,461
Receivables	450,775	778,505
Prepaids	172,147	50,644
Acquisition advances	1,624,548	1,702,882
Total current assets	5,822,075	6,837,492
Restricted cash	54,338	53,937
Investment in content	87,586	40,984
Equipment		30,312
Intangible assets	3,542,687	3,636,078
Right-of-use assets	117,906	133,984
Goodwill	1,634,463	833,493
Total assets	11,259,055	11,566,280
Current liabilities
Accounts payable and accrued liabilities	2,093,029	2,001,732
Corporate income taxes payable	5,206	5,206
Deferred revenue	684,481	183,994
Current portion of long-term debt	4,092
Current portion of lease liability	63,171	61,703
Total current liabilities	2,849,979	2,252,635
Long-term debt	156,679	158,265
Lease liability	56,998	73,472
Deferred income taxes	659,025	763,120
Derivative liability	991,886	1,277,200
Liabilities	4,714,567	4,524,692
SHAREHOLDERS' EQUITY
Share capital	35,336,670	35,102,920
Reserves	3,540,705	3,400,835
Accumulated deficit	(32,332,887)	(31,462,167)
Total Equity	6,544,488	7,041,588
Total equity and liabilities	$ 11,259,055	$ 11,566,280

Condensed Interim Consolidate_2

Condensed Interim Consolidated Statements of Loss and Comprehensive Los (Unaudited) - USD ($)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
Profit or loss [abstract]
Sales	$ 577,689	$ 8,882
Cost of sales	538,413	136,863
Gross profit (loss)	39,276	(127,981)
Operating expenses
Accretion expense	2,506	8,427
Amortization	17,078	18,849
Consulting fees	108,237	274,603
Depreciation		8,119
Foreign exchange (gain) loss	(1,497)	20,140
Interest expense	2,771	16,199
Investor relations, filing, and compliance fees	73,778	53,569
Management and directors salaries and fees	266,145	141,277
Marketing	244,134	298,525
Other general and administrative expenses	109,956	30,309
Professional fees	329,065	116,916
Research and development	93,575	122,316
Share-based compensation	139,870	731,079
Salaries and benefits	426,903
Total operating expenses	1,812,521	1,840,328
Loss before other income (expenses)	(1,773,245)	(1,968,309)
Interest income	23,993	12,940
Royalty income	12,068
Gain (loss) on derivative liability	756,835	(22,849)
Gain (loss) on settlement of debt		38,257
Gain (loss) on disposal of equipment	6,688
Unrealized gains on equity instruments		456,373
Allowance for credit loss		(34,555)
Total other income (expenses)	799,584	450,166
Loss before income taxes	(973,661)	(1,518,143)
Deferred income tax recovery	(104,095)
Income tax expense	1,154
Loss and comprehensive loss for the period	$ (870,720)	$ (1,518,143)
Basic and diluted loss per common share - Company	$ (0.05)	$ (0.14)
Weighted average number of common shares outstanding	16,004,495	10,541,439

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
Cash flows provided by (used in) operating activities
Loss from continuing operations for the period	$ (870,720)	$ (1,518,143)
Items not affecting cash:
Accretion expense	2,506	8,427
Accrued interest income	(23,959)	(14,709)
Accrued interest expense		1,579
Allowance for credit loss		34,555
Amortization - intangibles	93,391	18,849
Amortization - licenses		105,403
Amortization - right-of-use asset	16,078
Depreciation		8,119
Change in value of derivatives	(756,835)	22,849
Deferred income tax recovery	(104,095)
Interest on lease liability	1,059
Gain on settlement of debt		(38,257)
Gain on disposal of equipment	(6,688)
Share-based compensation	139,870	731,079
Shares issued for services		46,948
Unrealized foreign exchange	(6,703)	3,698
Unrealized gains on equity instruments		(456,373)
Changes in non-cash working capital:
Receivables	338,479	(13,586)
Prepaids	(121,503)	282,810
Accounts payable and accrued liabilities	127,161	324,866
Deferred revenue	500,487
Cash flows from (used in) operating activities	(671,472)	(451,886)
Cash flows provided by (used in) investing activities
Cash acquired on purchase of iGEMS	21,981
Investment in content	(46,602)
Advances for acquisitions	(25,000)
Cash flows from (used in) investing activities	(49,621)
Cash flows provided by (used in) financing activities
Long-term debt repayments		(1,718)
Interest paid on loans		(702)
Lease payments	(16,065)
Warrants exercised and issued for cash		227,793
Cash flows from (used in) financing activities	(16,065)	225,373
Effect of foreign exchange on cash	6,302	3,121
Change in cash during the period	(730,856)	(223,392)
Cash, beginning of period	4,305,461	543,749
Cash, end of period	3,574,605	320,357
Interest received
Interest paid		$ 702

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Issued capital [member]	Commitment To Issue Shares [Member]	Reserves [Member]	Retained earnings [member]	Total
Beginning balance, value at Nov. 30, 2020	$ 22,435,363	$ 440,501	$ 2,741,849	$ (18,682,796)	$ 6,934,917
Beginning Balance, Shares at Nov. 30, 2020	10,142,426
IfrsStatementLineItems [Line Items]
Shares issued to settle debt	$ 486,403				486,403
Shares issued to settle debt, Shares	217,984
Shares issued for services	$ 46,948				46,948
Shares issued for services, Shares	17,907
Warrants exercised for cash	$ 671,247	(440,501)	(2,953)		227,793
Warrants exercised for cash, Shares	497,251
Share-based compensation			731,079		731,079
Loss for the period				(1,518,143)	(1,518,143)
Ending balance, value at Feb. 28, 2021	$ 23,639,961		3,469,975	(20,200,939)	6,908,997
Ending Balance, Shares at Feb. 28, 2021	10,875,568
IfrsStatementLineItems [Line Items]
Shares issued pursuant to acquisition of IndieFlix	$ 799,994				799,994
Shares issued pursuant to acquisition of IndieFlix, Shares	499,996
Shares issued for cash	$ 6,915,230				6,915,230
Shares issued for cash, Shares	2,228,410
Shares issued to settle debt	$ 75,000				75,000
Shares issued to settle debt, Shares	39,894
Units issued for convertible debentures and related interest	$ 454,967		(49,967)		405,000
Units issued for convertible debentures and related interest, Shares	270,000
Shares issued for restricted share units	$ 721,502		(721,502)
Shares issued for restricted share units, Shares	487,502
Shares issued for cashless warrant exercise	$ 423,503				423,503
Shares issued for cashless warrant exercise, Shares	121,319
Share issuance costs	$ (573,351)				(573,351)
Warrants exercised for cash	$ 2,607,553		(221,353)		2,386,200
Warrants exercised for cash, Shares	1,290,000
Options exercised for cash	$ 38,561		(19,561)		19,000
Options exercised for cash, Shares	10,000
Share-based compensation			943,243		943,243
Loss for the period				(11,261,228)	(11,261,228)
Ending balance, value at Nov. 30, 2021	$ 35,102,920		3,400,835	(31,462,167)	7,041,588
Ending Balance, Shares at Nov. 30, 2021	15,822,689
IfrsStatementLineItems [Line Items]
Shares issued pursuant to acquisition of iGEMS	$ 233,750				233,750
Shares issued pursuant to acquisition of iGEMS, Shares	212,500
Share-based compensation			139,870		139,870
Loss for the period				(870,720)	(870,720)
Ending balance, value at Feb. 28, 2022	$ 35,336,670		$ 3,540,705	$ (32,332,887)	$ 6,544,488
Ending Balance, Shares at Feb. 28, 2022	16,035,189

NATURE AND CONTINUANCE OF OPERA

NATURE AND CONTINUANCE OF OPERATIONS	3 Months Ended
	Feb. 28, 2022
Nature And Continuance Of Operations
NATURE AND CONTINUANCE OF OPERATIONS	1. NATURE AND CONTINUANCE OF OPERATIONS Liquid Media Group Ltd. (“Liquid” or the “Company”) is a business solutions company empowering independent film and TV content creators to package, finance, deliver and monetize their professional video intellectual property globally. The head office of the Company is 67 East 5th Avenue, Vancouver, BC, V5T 1G7 and the registered records office of the Company is Suite 400, 725 Granville Street, PO Box 10325, Vancouver, BC, V7Y 1G5. The Company’s common shares are listed on the Nasdaq Stock Market (“Nasdaq”) under the trading symbol “YVR”. On September 22, 2021, the Company acquired 100% of the shares of IndieFlix Group, Inc. (“IndieFlix”). IndieFlix is a Delaware corporation that has a global ‘edutainment’ streaming service that creates, promotes, and supports social impact films. (Note 3). On December 14, 2021, the Company acquired 100% of the shares of iGEMS TV, Inc. (“iGEMS”). iGEMS is a Delaware corporation which provides a comprehensive content recommendation engine. (Note 4). These condensed interim consolidated financial statements have been prepared on a going concern basis, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. As at February 28, 2022, the Company has generated losses since inception and has an accumulated deficit of $ 32,332,887 These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Feb. 28, 2022
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES The following is a summary of the significant accounting policies used in the preparation of these condensed interim consolidated financial statements. Statement of compliance These condensed interim consolidated financial statements, including comparatives, have been prepared in accordance with International Accounts Standards (“IAS”) 34, “Condensed Interim Financial Reporting” using accounting policies consistent with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and Interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”) on a basis consistent with the accounting policies disclosed in the audited consolidated financial statements for the year ended November 30, 2021. This condensed interim financial report does not include all of the information required of a full annual financial report and is intended to provide users with an update in relation to events and transactions that are significant to an understanding of the changes in financial position and performance of the Company since the end of the last annual reporting period. Therefore, it is recommended that this financial report be read in conjunction with the restated audited annual financial statements of the Company for the year ended November 30, 2021. Basis of presentation The condensed interim consolidated financial statements of the Company have been prepared on an accrual basis and are based on historical costs, except for certain financial assets and liabilities, including derivative instruments that are measured at fair value. The consolidated financial statements are presented in United States dollars unless otherwise noted. As at November 30, 2021, the Company changed its accounting policy to present its results in United States dollars instead of Canadian dollars as done previously. This accounting change has been applied retrospectively in preparing these financial statements; as such, all comparative figures have been restated to reflect this change. Basis of consolidation These condensed interim consolidated financial statements include the accounts of the Company and its subsidiaries at the end of the reporting period as follows: Schedule of Company and its subsidiaries at the end of the reporting period Percentage owned Incorporation 2022 2021 Liquid Media Group (Canada) Ltd. (“Liquid Canada”) Canada 100 % 100 % Liquid Media Production Funding Ltd. (“Liquid Production Funding”) Liquid Media (US) Holding Co., Inc. (“Liquid US”) USA 100 % 100 % Liquid Media Merger Sub 2, Inc. (“Liquid Merger Sub 2”) USA 100 % 100 % iGEMS TV, Inc., (“iGEMS”) USA 100 % 0 % IndieFlix Group, Inc. (“IndieFlix”) USA 100 % 100 % Companies controlled by IndieFlix: RACE, LLC USA 100 % 100 % On August 13, 2021 the Company incorporated Liquid US. On October 20, 2021 the Company incorporated Liquid Merger Sub 2. On November 30, 2021, the Company incorporated Liquid Production Funding. On August 27, 2021, the Company incorporated Liquid Media Merger Sub, Inc. which was amalgamated with IndieFlix on September 22, 2021 (Note 3). On September 22, 2021, the Company acquired 100% of the shares of IndieFlix, a Delaware corporation (Note 3). On October 20, 2021 the Company incorporated Liquid Merger Sub 3, which was amalgamated with iGEMS on December 14, 2021 (Note 4). On December 14, 2021, the Company acquired 100% of the shares of iGEMS, a Delaware corporation (Note 4). All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation. Subsidiaries Subsidiaries are all entities over which the Company has exposure to variable returns from its involvement and has the ability to use power over the investee to affect its returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Company controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company until the date on which control ceases. Use of estimates The preparation of financial statements in conformity with IFRS requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported revenues and expenses during the period. Although management uses historical experience and its best knowledge of the amount, events or actions to form the basis for judgments and estimates, actual results may differ from these estimates. Significant estimates and judgements made by management in the preparation of these consolidated financial statements are outlined below. Uncertainty of COVID-19 pandemic In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak and any related adverse public health developments, has adversely affected workforces, customers, economies, and financial markets globally, initially leading to an economic downturn. It has also disrupted the normal operations of many businesses, including ours. This outbreak could decrease spending, adversely affect demand for our services and solutions and harm our business and results of operations; however, the Company has also recognized that the pandemic has led to a global increase in screen time which is beneficial to the Company’s operations. As countries continue to re-open from the pandemic, it is possible that screen time will decrease which may adversely affect the Company; however, it also leads to an increase in film and TV content being produced as film and TV producers are able to travel and continue operations leading to an increase in content available for the Company to package, finance, deliver, and monetize. It is not possible for us to predict the duration or magnitude of the adverse results of the outbreak and its effects on our business, results of operations, or how it will impact the Company’s ability to conduct financings at this time. Functional currency The functional currency of the Company and its subsidiaries is the United States dollar; however, determination of functional currency may involve certain judgments to determine the primary economic environment which is re-evaluated for each new entity or if conditions change. Level of control or influence over companies The accounting for investments in other companies can vary depending on the degree of control and influence over those other companies. Management is required to assess at each reporting date the Company’s control and influence over these other companies. Management has used its judgment to determine which companies are controlled and require consolidation and those which are significantly influenced and require equity accounting. The Company had considered its ownership position in Waterproof Studios Inc. (“Waterproof”) and determined it did not have the ability to influence the key operating activities of the entity. Accordingly, the Company accounted for its investment under fair value through profit or loss (Note 9) up to the disposal date of October 18, 2021. Income taxes In assessing the probability of realizing income tax assets, management makes estimates related to expectation of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified. Determination of Cash Generating Units (“CGUs”) CGUs are the lowest level within an entity at which goodwill is monitored for internal management purposes which is not higher than an operating segment. The Company has assessed that each acquired entity is a separate CGU. Valuation of share-based compensation and derivatives The Company uses the Black-Scholes Option Pricing Model for valuation of share-based compensation and other equity based payments, excluding contingent consideration. Option pricing models require the input of subjective assumptions including expected price volatility, interest rate, and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company’s earnings and equity reserves. Valuation of contingent consideration The Company uses a probability scenario based approached for valuation of share-based contingent consideration. Under the probability scenario based approach, management calculates the probability that the contingent shares will be issued under a low case, base case, and high case scenario. Changes in the probabilities can materially affect the fair value estimate and the Company’s earnings and equity reserves. Valuation of intangible assets Intangible assets are assessed for impairment indicators at each reporting date. Management first reviews qualitative factors in determining if an impairment needs to be recorded. Quantitative factors are then used to calculate the amount of impairment, if needed. Valuation of investment in equity instrument The Company values its equity instruments in private companies at fair value at each reporting date. The determination of fair value is based on estimates made by management on the expected earnings before income, taxes, and amortization multiplied by a reasonable factor for the appropriate industry applicable to the private company. Estimation of expected credit loss Loans receivable are assessed for an estimated credit loss at each reporting date. The estimated loss is determined based on management’s knowledge of the debtor and their ability to repay the loan. As the current debtors’ are private entities, management must rely on assertions provided to them from the debtor to make their estimates. Valuation of convertible debentures The equity portion of the convertible debenture is calculated using a discounted cash flow method which requires management to make an estimate on an appropriate discount rate. Valuation of right-of-use asset and lease liability The application of IFRS 16 requires the Company to make judgments that affect the valuation of the right-of-use assets and the valuation of lease liabilities. These include: determining the contract term and determining the interest rate used for discounting of future cash flows. The lease term determined by the Company is comprised of the non-cancellable period of lease agreements, periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option. The present value of the lease payment is determined using a discount rate representing the rate of a commercial mortgage rate, observed in the period when the lease agreement commences or is modified. Intangible assets The Company has intangible assets from acquisitions and development of gaming content and films. The amortization method, useful life and residual values are assessed annually and the assets are tested for impairment annually, or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Amortization expense is recorded on a straight-line basis beginning with the month the corresponding assets are available for use and over the estimated useful lives provided below: Schedule of estimated useful lives of intangible assets Video game catalogues (in years) 15 Platform coding (in years) 3 Brands indefinite Distribution libraries (in years) 10 Upon retirement or disposal, the cost of the asset disposed of and the related accumulated amortization are removed from the accounts and any gain or loss is reflected in profit and loss. Expenditures for repairs and maintenance are expensed as incurred. Development expenditures, including the cost of material, direct labour, and other direct costs are recognized as an intangible asset when the following recognition requirements are met: · the development costs can be measured reliably; · the project is technically and commercially feasible; · the Company intends to and has sufficient resources to complete the project; · the Company has the ability to use or sell the asset, and · the asset will generate probable future economic benefits. Intangible assets being developed are amortized once development is complete. Video game catalogues The video game catalogues are made up of a diverse variety of games, ranging in age and popularity. The catalogues are unique due to the diverse nature of the products within the catalogues, making it difficult to assign a useful life. The useful life of 15 years represented management’s view of the expected period over which the Company expected to receive benefits from the acquired gaming content packaged as catalogues. Platform coding The platform coding acquired by the Company is currently under development and is not yet subject to amortization. Distribution libraries Through the acquisition of IndieFlix, the Company acquired distribution libraries. These assets are carried at cost, including amounts of purchase price allocations upon acquisitions. Comparative figures Certain of the comparative figures have been reclassified in order to conform to the current year’s presentation. Accounting pronouncements not yet adopted Accounting standards or amendments to existing accounting standards that have been issued but have future effective dates are either not applicable or are not expected to have a significant impact on the Company’s consolidated financial statements.

ACQUISITION OF INDIEFLIX GROUP,

ACQUISITION OF INDIEFLIX GROUP, INC.	3 Months Ended
	Feb. 28, 2022
Acquisition Of Indieflix Group Inc.
ACQUISITION OF INDIEFLIX GROUP, INC.	3. ACQUISITION OF INDIEFLIX GROUP, INC. On September 22, 2021, the Company acquired 100% of the issued and outstanding shares of IndieFlix in accordance with an Agreement and Plan of Merger (“IndieFlix Agreement”) and, in connection with the merger, former noteholders of IndieFlix agreed to extinguish IndieFlix debt in exchange for common shares of the Company. As consideration for the extinguishment of debt, the Company issued 499,996 common shares at closing and may issue up to 2,000,000 in additional common shares of the Company to the former noteholders of IndieFlix upon IndieFlix achieving total cumulative revenue of $64,868,466 before the seventh anniversary of the closing date as follows (“IndieFlix Transaction”): · 500,000 common shares upon IndieFlix achieving revenue of $4,521,630 (“IndieFlix First Milepost”); · 500,000 common shares upon IndieFlix achieving revenue of $13,766,432 (“IndieFlix Second Milepost”); · 500,000 common shares upon IndieFlix achieving revenue of $31,496,648 (“IndieFlix Third Milepost”); and · 500,000, or such lesser number based on a pro rata amount of IndieFlix’s revenue recognized relative to the IndieFlix Fourth Milepost, common shares upon IndieFlix achieving revenue of $64,868,466 (“Fourth Milepost”). Upon closing of the IndieFlix Agreement, Liquid Merger Sub was amalgamated with IndieFlix with the surviving entity retaining the name IndieFlix Group, Inc. In connection with the IndieFlix Transaction, on May 10, 2021, the Company entered into a non-revolving credit facility with IndieFlix for $499,880 which was advanced as follows: (1) $102,852 upon the date of the promissory note (advanced May 10, 2021); (2) $173,043 on the first month anniversary (advanced June 10, 2021); and (3) $223,985 on the second month anniversary (advanced July 9, 2021). The promissory note bore interest at 6% per annum, was due on the earlier of December 31, 2021 or the closing of the IndieFlix Transaction, and was secured by a general security agreement over certain assets. As the note was considered an advance on acquisition, the Company re-assumed the advance on the closing of the IndieFlix Transaction on September 22, 2021. On September 22, 2021, the 2,000,000 common shares to be issued (“IndieFlix Contingent Consideration”) was valued to be $1,648,000. On February 28, 2022, the IndieFlix Contingent Consideration was revalued to $700,400 (November 30, 2021 - $1,277,200) resulting in a gain on derivative liability of $576,800 (February 28, 2021 - $nil). The IndieFlix Contingent Consideration was calculated by multiplying the closing share price of the Company’s shares by the following weighted average expected number of shares to vest calculated using a probability scenario based approach: Schedule of Weighted average expected number of shares to vest February 28, 2022 November 30, 2021 Weighted average expected number of shares to vest Low Case 150,000 150,000 Base Case 600,000 600,000 High Case 280,000 280,000 Expected number of shares to vest 1,030,000 1,030,000 Liquid share price $ 0.68 $ 1.24 The acquisition has been accounted for using the acquisition method pursuant to IFRS 3, Business Combinations Schedule of estimate of the fair value of net assets acquired Total $ Consideration: Common shares 799,994 IndieFlix Contingent Consideration 1,648,000 Total unadjusted purchase price 2,447,994 Cash acquired (21,076 ) Total purchase price, net of cash acquired 2,426,918 Allocated as follows: Accounts receivable 188,278 Inventory 105 Prepaids 8,335 Right-of-use asset 144,702 Accounts payable (606,560 ) Deferred revenue (251,435 ) Lease liability (144,702 ) Loans payable (508,255 ) Long-term debt (156,625 ) Intangible assets – distribution libraries 3,695,673 Goodwill 833,493 Deferred income taxes (776,091 ) Total 2,426,918 The purchase price allocation for the IndieFlix Transaction reflects various fair value estimates and analyses, which are subject to change within the respective measurement periods. The Company expects to continue to obtain information to assist in determining the fair value of the net assets acquired at each acquisition date during the measurement periods. Measurement period adjustments that the Company determines to be material will be applied retrospectively to the period of acquisition in the Company’s consolidated financial statements, and, depending on the nature of the adjustments, other periods subsequent to the period of acquisition could also be affected. The Company determined the estimated fair value of the acquired working capital, and identifiable intangible assets and goodwill after review and consideration of relevant information including discounted cash flow analyses, market data and management’s estimates. For leases acquired, the Company measured the lease liability at the present value of the remaining lease payments, as if the acquired lease were a new lease at the acquisition date. The Company measured the right-of-use asset at the same amount as the lease liability, adjusted to reflect favorable or unfavorable terms of the lease when compared with market terms. IndieFlix’s distribution libraries represent identifiable intangible assets acquired in the amounts of $ 3,695,673 10 The fair value of the acquired assets and liabilities are provisional pending receipt of the final valuations for those assets and liabilities.

ACQUISITION OF iGEMS TV, INC.

ACQUISITION OF iGEMS TV, INC.	3 Months Ended
	Feb. 28, 2022
Acquisition Of Igems Tv Inc.
ACQUISITION OF iGEMS TV, INC.	4. ACQUISITION OF iGEMS TV, INC. On December 14, 2021, the Company acquired 100% of the issued and outstanding shares of iGEMS TV, Inc. (“IGEMS”) in accordance with an Agreement and Plan of Merger (“iGEMS Agreement”). As consideration, the Company will issue up to 850,000 common shares of the Company to the former shareholders of iGEMS upon iGEMS achieving total cumulative revenue of $9,412,830 before the sixth anniversary of the closing date as follows (“iGEMS Transaction”): · 212,500 common shares on closing of the agreement (issued subsequently); · 212,500 common shares upon iGEMS achieving revenue of $473,577 (“iGEMS First Milepost”); · 212,500 common shares upon iGEMS achieving revenue of $2,400,664 (“iGEMS Second Milepost”); · 212,500, or such lesser number based on a pro rata amount of iGEMS revenue recognized relative to the iGEMS Third Milepost, common shares upon iGEMS achieving revenue of $9,412,830 (“iGEMS Third Milepost”). Upon closing of the iGEMS Agreement, Liquid Merger Sub 3 was amalgamated with iGEMS with the surviving entity retaining the name iGEMS TV, Inc. In connection with the iGEMS Transaction, on June 25, 2021, the Company entered into an agreement with iGEMS for $100,000 which was advanced as follows: (1) $40,000 upon the date of the agreement (advanced June 28, 2021); (2) $33,000 on the first month anniversary (advanced August 3, 2021); and (3) $27,000 on the second month anniversary (advanced September 7, 2021). The agreement bore interest at 6% per annum and was due on the earlier of December 31, 2021 or 30 days following the termination of the iGEMS Transaction. The agreement was secured by a general security agreement over certain assets. The Company advanced a further $25,000 to iGEMS on December 10, 2021. As the advances were considered an advance on acquisition, the Company re-assumed the advance on the closing of the iGEMS Transaction on December 14, 2021. On December 14, 2021, the 212,500 common shares to be issued (“iGEMS Contingent Consideration”) was valued to be $471,521. On February 28, 2022, the iGEMS Contingent Consideration was revalued to $291,485 resulting in a gain on derivative liability of $180,035. The iGEMS Contingent Consideration was calculated by multiplying the closing share price of the Company’s shares by the following weighted average expected number of shares to vest calculated using a probability scenario based approach: Schedule of Weighted average expected number of shares to vest February 28, 2022 December 14, 2021 Weighted average expected number of shares to vest Low Case 315,563 315,563 Base Case 422,025 422,025 High Case 561,638 561,638 Expected number of shares to vest 428,655 428,655 Liquid share price $ 0.68 $ 1.10 The acquisition has been accounted for using the acquisition method pursuant to IFRS 3, Business Combinations Schedule of estimate of the fair value of net assets acquired Total $ Consideration: Common shares 233,750 iGEMS Contingent Consideration 471,521 Total unadjusted purchase price 705,271 Cash acquired (21,981 ) Total purchase price, net of cash acquired 683,290 Allocated as follows: Accounts receivable 10,749 Accounts payable (1,136 ) Loans payable (127,293 ) Goodwill 800,970 Total 683,290 The purchase price allocation for the iGEMS Transaction reflects various fair value estimates and analyses, which are subject to change within the respective measurement periods. The Company expects to continue to obtain information to assist in determining the fair value of the net assets acquired at each acquisition date during the measurement periods. Measurement period adjustments that the Company determines to be material will be applied retrospectively to the period of acquisition in the Company’s consolidated financial statements, and, depending on the nature of the adjustments, other periods subsequent to the period of acquisition could also be affected. The Company determined the estimated fair value of the acquired working capital and goodwill after review and consideration of relevant information including discounted cash flow analyses, market data and management’s estimates. The fair value of the acquired assets and liabilities are provisional pending receipt of the final valuations for those assets and liabilities.

RECEIVABLES

RECEIVABLES	3 Months Ended
	Feb. 28, 2022
RECEIVABLES	5. RECEIVABLES Schedule of trade receivable February 28, 2022 November 30, 2021 $ $ Accounts receivable 153,521 512,041 Sales tax receivable 283,244 266,464 Other receivables 14,010 - Receivables 450,775 778,505

LOANS RECEIVABLE

LOANS RECEIVABLE	3 Months Ended
	Feb. 28, 2022
Loans Receivable
LOANS RECEIVABLE	6. LOANS RECEIVABLE Long-term amounts Loans receivable are classified as long-term when management has determined that they will not be receiving payment on these loans within the next twelve months. As at February 28, 2021, the long-term loans receivable including accrued interest are as follows: Schedule of long term loans receivable including accrued interest Participant Games Installment Entertainment Total $ $ $ Balance November 30, 2020 51,931 32,992 84,923 Accrued interest income 7,912 5,027 12,939 Expected credit loss (61,814 ) (39,271 ) (101,085 ) Net exchange differences 1,971 1,252 3,223 Balance, November 30, 2021 and February 28, 2022 - - - Participant Games During fiscal 2017, the Company entered into a subordinated convertible note with Participant Games Inc. in the amount of CAD$ 150,000 15 127,114 244,369 Instalment Entertainment During fiscal 2017, the Company entered into a convertible note with Installment Entertainment Inc. in the amount of CAD$ 100,000 15 77,077 155,247

RESTRICTED CASH

RESTRICTED CASH	3 Months Ended
	Feb. 28, 2022
RESTRICTED CASH	7. RESTRICTED CASH As at February 28, 2021, the Company had two Guaranteed Investment Certificates (“GICs”) totaling $ 54,338 53,937

LICENSES

LICENSES	3 Months Ended
	Feb. 28, 2022
Licenses
LICENSES	8. LICENSES Four licenses were acquired during the year ended November 30, 2018 through the issuance of 888,000 3,756,360 250,581 705,555 During the three months ended February 28, 2021, amortization, included in cost of sales, amounted to $nil (February 28, 2021 - $ 105,403 The following table is a reconciliation of the licenses: Schedule of reconciliation of licenses February 28, 2022 November 30, 2021 $ Balance, beginning of period - 705,555 Amortization - (213,015 ) Write-offs - (492,751 ) Net exchange differences - 211 Balance, end of period - -

INVESTMENT IN EQUITY INSTRUMENT

INVESTMENT IN EQUITY INSTRUMENTS	3 Months Ended
	Feb. 28, 2022
Investment In Equity Instruments
INVESTMENT IN EQUITY INSTRUMENTS	9. INVESTMENT IN EQUITY INSTRUMENTS Until February 28, 2019, the Company accounted for its 49% interest in Waterproof using the equity method of accounting resulting in a carrying value of $445,987. At March 1, 2019, however, the Company no longer exerted significant influence over Waterproof’s operating activities resulting in the investment being reclassified as FVTPL. The fair value as at March 1, 2019 was determined to be $1,252,525 resulting in a gain of $806,538 on derecognition from the equity accounting carrying value. On October 18, 2021, the Company settled a lawsuit with the other shareholders of Waterproof whereby the Company transferred its 49% interest in Waterproof to the other shareholders for $666,683 (CAD$825,000) resulting in the Company recording a loss on disposal of investment of $3,438,560 (Note 26). As at October 18, 2021, the value of Waterproof’s common shares was estimated to be $ 4,105,243 1,139,133 The following table is a reconciliation of the investment in Waterproof: Schedule of reconciliation of the investment in Waterproof February 28, 2022 November 30, 2021 $ $ Balance, beginning of period - 2,966,110 Change in fair value - 1,139,133 Disposal of investment - (4,105,243 ) Balance, end of period - -

INVESTMENT IN CONTENT

INVESTMENT IN CONTENT	3 Months Ended
	Feb. 28, 2022
Investment In Content
INVESTMENT IN CONTENT	10.   INVESTMENT IN CONTENT As at February 28, 2022 and November 30, 2021, the investment in content represents the unamortized costs of film content in production.

EQUIPMENT

EQUIPMENT	3 Months Ended
	Feb. 28, 2022
Disclosure Equipment Abstract
EQUIPMENT	11. EQUIPMENT Schedule of Equipment Computer Equipment Vehicles Total $ $ $ Cost: At November 30, 2020 93,962 43,303 137,265 Disposals (93,962 ) - (93,962 ) At November 30, 2021 - 43,303 43,303 Disposals - (43,303 ) (43,303 ) At February 28, 2022 - - - Depreciation: At November 30, 2020 29,011 - 29,011 Additions 19,485 12,991 32,476 Disposals (48,496 ) - (48,496 ) At November 30, 2021 - 12,991 12,991 Disposals - (12,991 ) (12,991 ) At February 28, 2022 - - - Net book value: At November 30, 2021 - 30,312 30,312 At February 28, 2022 - - - During the year ended November 30, 2021, the Company disposed of its computer equipment for no proceeds resulting in a loss on disposal of equipment of $ 45,466 In December 2021, the Company disposed of the vehicle for $37,000 to the former CFO of the Company resulting in a gain on disposal of equipment of $ 6,688

INTANGIBLE ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Feb. 28, 2022
INTANGIBLE ASSETS	12.  INTANGIBLE ASSETS Schedule of intangible assets Video Game Catalogues Platform Distribution Libraries Total $ $ $ $ Cost: At November 30, 2020 1,130,960 3,325,000 - 4,455,960 Additions - acquisition of IndieFlix (Note 3) - - 3,695,673 3,695,673 Impairments (890,445 ) (3,324,000 ) - (4,214,445 ) At November 30, 2021 and February 28, 2022 240,515 1,000 3,695,673 3,937,188 Amortization: At November 30, 2020 164,118 - - 164,118 Additions 75,397 - 61,595 136,992 At November 30, 2021 239,515 - 61,595 301,110 Additions 1,000 - 92,391 93,391 At February 28, 2022 240,515 - 153,986 394,501 Net book value: At November 30, 2021 1,000 1,000 3,634,078 3,636,078 At February 28, 2022 - 1,000 3,541,687 3,542,687 During the year ended November 30, 2020, the Company acquired platform coding for a cash payment of $ 3,325,000 During the year ended November 30, 2021, the Company acquired distribution libraries valued at $ 3,695,673 During the year ended November 30, 2021, the Company determined that the video game catalogues and platform coding should be impaired resulting in the Company recognizing an impairment of intangible assets of $ 4,214,445 Amortization of the distribution libraries is included in cost of sales.

RIGHT-OF-USE- ASSET AND LEASE L

RIGHT-OF-USE- ASSET AND LEASE LIABILITY	3 Months Ended
	Feb. 28, 2022
RIGHT-OF-USE- ASSET AND LEASE LIABILITY	13. RIGHT-OF-USE- ASSET AND LEASE LIABILITY Right-of-Use Asset Schedule of Right of Use Asset Office Space $ Cost: At November 30, 2020 - Additions - acquisition of IndieFlix (Note 3) 144,702 At November 30, 2021 and February 28, 2022 144,702 Amortization: At November 30, 2020 - Additions 10,718 At November 30, 2021 10,718 Additions 16,078 At February 28, 2022 26,796 Net book value: At November 30, 2022 133,984 At February 28, 2022 117,906 Amortization of right-of-use assets is calculated using the straight-line method over the remaining lease term. Lease Liability Schedule of Lease Liability February 28, 2022 November 30, 2021 $ $ Balance, beginning of period 135,175 - Additions (Note 3) - 144,702 Lease payments (16,065 ) (10,298 ) Interest expense 1,059 771 120,169 135,175 Less: current portion (63,171 ) (61,703 ) Balance, end of period 56,998 73,472 The lease liability was discounted at a discount rate of 3.25 The minimum lease payments in respect of the lease liability and the effect of discounting are as follows: Schedule of lease payments $ Undiscounted minimum lease payments: March 1, 2021 – November 30, 2022 49,122 December 1, 2022 – November 30, 2023 69,093 December 1, 2023 – November 30, 2024 5,785 Total 124,000 Effect of discounting (3,831 ) Total present value of lease liabilities 120,169 Less: current portion (63,171 ) Balance, end of period 56,998

GOODWILL

GOODWILL	3 Months Ended
	Feb. 28, 2022
Disclosure Goodwill Abstract
GOODWILL	14. GOODWILL A summary of goodwill balance and transactions is as follows: Schedule of goodwill February 28, 2022 November 30, 2021 $ $ Balance, beginning of period 833,493 - Additions (Notes 3 and 4) 800,970 833,493 Balance, end of period 1,634,463 833,493 During the year ended November 30, 2021, the Company acquired goodwill of $ 833,493 During the three months ended February 28, 2022, the Company acquired goodwill of $ 800,970 Goodwill is tested for impairment annually or more frequently if events or circumstances indicate that the asset might be impaired. At November 30, 2021, the Company performed its impairment review of goodwill by comparing each cost center’s fair value to the net book value including goodwill. At February 28, 2022, the Company has determined that it has two cost centers: IndieFlix and iGEMS. The fair value of each cost center was determined by management based on a valuation using the income approach. The income approach uses future projections of cash flows from the cost center and includes, among other estimates, projections of future revenue and operating expenses, market supply and demand, projected capital spending and an assumption of the weighted average cost of capital. Management’s evaluation of fair values includes analysis based on the future cash flows generated by the underlying assets, estimated trends and other relevant determinants of fair value for these assets. Management has determined that no events have occurred subsequent to the date of the assessment that would require a further impairment review of goodwill.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	3 Months Ended
	Feb. 28, 2022
Accounts Payable And Accrued Liabilities
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	15. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of Accounts Payable and Accured Liabilities February 28, 2022 November 30, 2021 $ $ Accounts payable 1,893,306 1,625,418 Accrued liabilities 91,795 242,601 Wages payable 53,038 102,079 Payroll taxes payable 54,890 31,634 Accounts payable and accrued liabilities 2,093,029 2,001,732 During the three months ended February 28, 2022, the Company issued nil 0 2,984 0 6,953 0 7,851 0 898 During the three months ended February 28, 2021, the Company transferred 215,000 18,481

DEFERRED REVENUE

DEFERRED REVENUE	3 Months Ended
	Feb. 28, 2022
DEFERRED REVENUE	16. DEFERRED REVENUE A summary of the deferred revenue is as follows: Schedule of Deferred Revenue February 28, 2022 November 30, 2021 $ Film distribution 678,114 179,196 Streaming subscriptions 6,367 4,798 Deferred Revenue 684,481 183,994

LOANS PAYABLE

LOANS PAYABLE	3 Months Ended
	Feb. 28, 2022
LOANS PAYABLE	17. LOANS PAYABLE A summary of loans payable balances and transactions is as follows: Schedule of loans payable balances and transactions Credit Facility $ Balance, November 30, 2020 493,087 Repayment - shares (498,329 ) Net exchange differences 5,242 Balance, November 30, 2021 and February 28, 2022 - Credit facility In fiscal 2016 a CAD$2,500,000 Credit facility was secured by assets of the Company under a general security agreement with a due date of November 30, 2018 and an interest rate of 14.4 In June 2018, a new lender acquired the remaining $563,850 (CAD$750,000) loan and under new terms, the loan was due on August 20, 2018. The new lender obtained a Limited Power of Attorney over the Company’s 49% interest in Waterproof (“Waterproof POA”). In December 2018, the lender registered a general security agreement over all the Company’s current and future assets. In November 2019, the new lender signed a Forebearance Agreement which extended the maturity date of the loan to November 30, 2020 and required the Company to make quarterly payments of CAD$250,000 commencing on March 31, 2020 until the principal and interest on the loan have been paid in full. In accordance with the Forbearance Agreement, the Company issued 215,000 treasury shares of the Company as security for the loan which will be transferred to the lender upon any default of the loan. Additionally, the new lender released the Waterproof POA and amended their general security agreement to exclude the Company’s investment in Waterproof. In March 2020, the new lender provided an extension allowing the delay of the quarterly payments to commence June 30, 2020. During the year ended November 30, 2020, the Company repaid a further $385,650 (CAD$500,000) for this loan of which $85,388 (CAD$110,707) was applied to the principal and $300,262 (CAD$389,293) was applied to the outstanding interest. As at November 30, 2020, interest of $ 5,447 In February 2021, the new lender agreed to accept the 215,000 treasury shares held as security as full and final payment of the Forbearance Agreement (Note 20). Accordingly, the transfer of the 215,000 treasury shares resulted in a gain on debt settlement of $37,359 as the treasury shares were valued at $479,450 on the date of issuance to settle the outstanding principal of $498,329 and interest of $18,481.

CONVERTIBLE DEBENTURES

CONVERTIBLE DEBENTURES	3 Months Ended
	Feb. 28, 2022
Convertible Debentures
CONVERTIBLE DEBENTURES	18. CONVERTIBLE DEBENTURES Schedule of Convertible Debentures Liability component Equity component Total $ $ $ Balance, November 30, 2020 409,960 49,967 459,927 Interest expense and accretion 8,427 - 8,427 Conversion of convertible debentures (401,677 ) (49,967 ) (451,644 ) Reallocation of interest to accounts payable (16,710 ) - (16,710 ) Balance, November 30, 2021 - - - On February 28, 2019, the Company closed its private placement offering of unsecured convertible debentures raising $2,678,000. Each debenture matured two years from closing, bore interest at 2% per annum, and was convertible into units at a price of $1.50 per unit. Each unit consisted of one common share and one share purchase warrant with each warrant entitling the holder to acquire one common share of the Company for $1.75 up to February 28, 2021. In January 2021, the Company agreed to extend the maturity date and associated warrant expiry date for one debenture holder by one year. For accounting purposes, the convertible debentures are separated into their liability and equity components by first valuing the liability component. The fair value of the liability component at the time of issue was calculated as the discounted cash flows for the convertible debentures assuming a 12% discount rate, which was the estimated rate for a similar debenture without a conversion feature. The fair value of the equity component (conversion feature) was determined at the time of issue as the difference between the face value of the convertible debentures and the fair value of the liability component, less a deferred income tax adjustment to reflect the book to tax difference in value of the convertible debentures at the time of issuance. As the Company has excess tax assets to offset the deferred tax liability, which was created from the book to tax difference in value of the convertible debentures, the deferred tax liability was reversed, resulting in a deferred tax recovery of $ 122,201 During the year ended November 30, 2021, debentures of $401,677 were converted into 270,000 units of the Company of which $nil was allocated to reserves relating to the value of the warrants issued. As a result, the Company transferred $49,967 from reserves to share capital representing the proportionate balance of the equity component. Interest and accretion expense for the three months ended February 28, 2022 was $nil 0 12,752

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Feb. 28, 2022
Long-term Debt
LONG-TERM DEBT	19. LONG-TERM DEBT Schedule of long term debt Third party SBA Loan Total $ $ $ Balance, November 30, 2020 (current and long-term) 40,059 - 40,059 Acquired on acquisition of IndieFlix (Note 3) - 156,625 156,625 Payments (42,775 ) - (42,775 ) Interest expense and accretion 2,716 1,640 4,356 Balance, November 30, 2021 (current and long-term) - 158,265 158,265 Interest expense and accretion - 2,506 2,506 Balance, February 28, 2022 - 160,771 160,771 Current portion - 4,092 4,092 Long-term portion - 156,679 156,679 Third party During the year ended November 30, 2020, the Company entered into a Conditional Sales Contract for the purchase of a vehicle. The agreement bore interest of 6.99%, required 60 monthly payments of CAD$1,028, and was secured by a vehicle with a net book value of $nil (November 30, 2021 - $30,312) (Note 11). SBA loan In June 2020, IndieFlix obtained a $150,000 U.S. Small Business Administration (“SBA”) loan which increased to $200,000 upon receiving a further $50,000 in July 2020. The SBA loan bears interest at 3.75% from the date of the advance and requires monthly payments of $1,023 commencing 24 months from the date of the first advance. The balance of principal and interest will be repayable over 30 years from the date of the first advance. The SBA loan is secured by a continuing security interest in all of IndieFlix’s current and future assets. The loan is being accreting to its face value at an effective rate of 6.25% over the term of the loan. On March 17, 2022, SBA provided an additional six month deferment for IndieFlix’s SBA Loan where the first payment has been deferred to 30 months from the date of the first advance from 24 months.

SHARE CAPITAL AND RESERVES

SHARE CAPITAL AND RESERVES	3 Months Ended
	Feb. 28, 2022
SHARE CAPITAL AND RESERVES	20. SHARE CAPITAL AND RESERVES Authorized share capital The Company is authorized to issue 100,000,000 common shares without par value. The Company is authorized to issue the following preferred shares: Schedule of authorized to issue of preferred shares Preferred shares without par value 9,999,900 Series “A” preferred shares 1,000,000 Series “B” preferred shares 100 Series “C” preferred shares 1,000,000 Series “D” preferred shares 4,000,000 Series “E” preferred shares 4,000,000 20,000,000 Issued share capital Common shares The Company had the following share issuances during the three months ended February 28, 2022: a) On December 14, 2021, the Company issued 212,500 233,750 The Company had the following share issuances during the year ended November 30, 2021: a) On January 25, 2021, the Company issued 2,984 6,953 7,851 898 b) On January 29, 2021, the Company issued 17,907 46,948 c) On February 12, 2021, the Company transferred 215,000 479,450 d) On March 3, 2021, the Company issued 250,001 372,376 250,001 372,376 e) On March 22, 2021, the Company closed a registered direct offering, under its F-3 registration statement in the United States, by issuing 1,791,045 3.35 6,000,000 69,095 470,000 15,950 f) On June 9, 2021, the Company issued 39,894 75,000 g) On September 3, 2021, the Company issued 237,501 349,127 237,501 349,127 h) On September 7, 2021 the Company closed a sale of common shares under its At-The-Market Agreement (“ATM Agreement”) through the issuance of 437,365 2.09 915,230 i) On September 22, 2021, the Company issued 499,996 799,994 j) During the year ended November 30, 2021, the Company issued the following for exercised stock options, warrants, and conversions: · issued 367,084 440,501 367,084 1.20 · issued 430,167 752,793 430,167 1.75 2,953 · issued 990,000 1,861,200 990,000 1.88 221,353 · issued 121,319 423,503 175,000 423,503 · issued 270,000 405,000 · issued 10,000 19,000 10,000 19,561 Preferred shares As at February 28, 2022 and November 30, 2021, no preferred shares were issued and outstanding. Treasury shares On November 27, 2019, the Company issued 215,000 common shares into treasury as security against a loan in accordance with a Forbearance Agreement (Note 17). In February 2021, the Company transferred these shares to the lender as full and final payment of the Forbearance Agreement. Stock options The Company does not have a formal stock option plan. The Company occasionally grants stock options to its employees, officers, directors and consultants to purchase common shares of the Company. The options granted are exercisable at a price which is equal to or greater than the fair market value of the common shares at the date the options are granted. The options are granted with varied vesting periods but generally vest immediately on grant. Options granted generally have a life of five years. On January 1, 2021, the Company granted an officer of the Company 750,715 861,681 1.90 77,754 137,118 On January 14, 2021, the Company granted a consultant of the Company 321,735 408,202 1.90 22,388 181,901 On January 1, 2021, the Company repriced 932,995 stock options with an exercise price of $2.55 and 25,000 stock options with an exercise price of $2.57 to $1.90 per option. All other terms remained unchanged. During the three months ended February 28, 2022, the Company recorded share-based compensation of $nil (February 28, 2021 - $71,617) in relation to this repricing. In accordance with a Termination and Mutual Release Agreement entered into with a consultant of the Company effective April 14, 2021, the Company and a consultant agreed to modify the expiry date of 50,000 options outstanding from July 23, 2025 to May 14, 2022. The following weighted average assumptions were used in the Black-Scholes option-pricing model for the valuation of the stock options granted: Schedule of weighted average assumptions by Black-Scholes option-pricing model February 28, 2022 November 30, 2021 Risk-free interest rate - 0.41 % Dividend yield - nil Expected life (in years) - 5.0 Volatility - 105 % Weighted average fair value per option - $ 1.18 Stock option transactions are summarized as follows: Schedule of stock option transactions Number of Stock Options Weighted Average Exercise Price Weighted Average Share Price on Exercise $ $ Balance, November 30, 2020 957,995 $ 2.55 - Granted 1,072,450 $ 1.90 - Exercised (10,000 ) $ 1.90 $ 2.00 Cancelled (265,000 ) $ 1.90 - Balance, November 30, 2021 and February 28, 2022 1,755,445 $ 1.90 - A summary of the stock options outstanding and exercisable at February 28, 2022 is as follows: Schedule of summary of the share options outstanding and exercisable Number Outstanding Number Exercisable Exercise Price Expiry Date $ 50,000 50,000 $ 1.90 May 14, 2022 257,995 257,995 $ 1.90 February 28, 2024 25,000 25,000 $ 1.90 January 8, 2025 25,000 25,000 $ 1.90 February 13, 2025 25,000 25,000 $ 1.90 March 10, 2025 25,000 25,000 $ 1.90 April 13, 2025 275,000 275,000 $ 1.90 July 23, 2025 750,715 428,980 $ 1.90 January 1, 2026 321,735 214,490 $ 1.90 January 14, 2026 1,755,445 1,326,465 The weighted average life of share options outstanding at February 28, 2022 was 3.36 3.20 Warrants Agents’ warrants Agents’ warrant transactions are summarized as follows: Schedule of agents' warrant transactions Number of Agents’ Warrants Weighted Average Exercise Price $ Balance, November 30, 2020 213,333 $ 1.88 Exercised (186,666 ) $ 1.88 Balance, November 30, 2021 and February 28, 2022 26,667 $ 1.88 A summary of the agents’ warrants outstanding and exercisable at February 28, 2022 is as follows: Schedule of agents' warrants outstanding and exercisable Number Outstanding Exercise Price Expiry Date $ 26,667 $ 1.88 June 4, 2025 26,667 The weighted average life of agent’s warrants outstanding at February 28, 2022 was 3.27 years. Share purchase warrants On February 12, 2021, the Company extended the expiry date of 346,000 share purchase warrants with an exercise price of $1.75 from February 26, 2021 to March 11, 2021 due to the investors being subject to a trading blackout. During the year ended November 30, 2021, the Company issued 270,000 1.75 Share purchase warrant transactions are summarized as follows: Schedule of share purchase warrant transactions Number of Share Purchase Warrants Weighted Average Exercise Price $ Balance, November 30, 2020 3,033,709 $ 1.66 Issued 270,000 $ 1.75 Exercised (1,408,501 ) $ 1.84 Expired (1,516,000 ) $ 1.46 Balance, November 30, 2021 and February 28, 2022 379,208 $ 1.84 A summary of the share purchase warrants outstanding and exercisable at February 28, 2021 is as follows: Schedule of share purchase warrants outstanding and exercisable for warrants Number Outstanding Exercise Price Expiry Date $ 24,208 * $ 1.20 April 6, 2022 355,000 $ 1.88 June 9, 2025 379,208 * expired unexercised subsequent to February 28, 2022 The weighted average life of share purchase warrants outstanding at February 28, 2022 was 3.08 years. Restricted share units (“RSUs”) During the year ended November 30, 2020, the Company granted 1,000,001 During the three months ended February 28, 2022, the Company recorded share-based compensation expense of $ 39,728 340,443 Schedule of Restricted share units Number of RSUs Balance, November 30, 2020 750,000 Vested (487,502 ) Cancelled (98,541 ) Balance, November 30, 2021 and February 28, 2022 163,957 Derivative liability On June 8, 2020, the Company closed a registered direct offering, under its F-3 registration statement in the United States, by issuing 2,666,672 common shares of the Company at $1.50 per common share for total proceeds of $4,000,002. Concurrent with this offering, the Company issued to the investors 1,333,334 share purchase warrants exercisable for $1.88 per common share with a maturity date of June 9, 2025. The holders of the Cashless Warrants may elect, if the Company does not have an effective registration statement registering or the prospectus contained therein is not available for the issuance of the Cashless Warrant shares to the holder, in lieu of exercising the Cashless Warrants for cash, a cashless exercise option to receive common shares equal to the fair value of the Cashless Warrants. The fair value is determined by multiplying the number of Cashless Warrants to be exercised by the previous day’s volume weighted average price (“VWAP”) less the exercise price with the difference divided by the VWAP. If a Cashless Warrant holder exercises this option, there will be variability in the number of shares issued per Cashless Warrant. On initial recognition, the Company allocated $351,779, being the fair value of the Cashless Warrants, from the proceeds of the offering included in share capital to set up the derivative liability. On March 24, 2021, the Company’s registration statement restricting the Cashless Warrant holders ability to elect to cashless exercise their Cashless Warrants became effective resulting in the Company revaluing the derivative liability to $nil 0 285,988 160,364 22,849 On March 24, 2021, the Company revalued the derivative liability to $3,226,693 using the following Black Scholes assumptions: risk –free rate of $0.10%, dividend yield of nil, expected life of 0.01 years, and volatility of $150%. The Company transferred $423,503 from derivative liability to share capital in connection with the exercise of 175,000 Cashless Warrants on March 24, 2021 and reversed the remaining derivative liability on the expiry of the cashless exercise feature.

ROYALTY INCOME

ROYALTY INCOME	3 Months Ended
	Feb. 28, 2022
Royalty Income
ROYALTY INCOME	21. ROYALTY INCOME IndieFlix earns royalty income from its participating net profit rights in three separate US Limited Liability Companies (“LLC”) for which IndieFlix acts as a manager. The Company has recognized $ 12,068 0

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Feb. 28, 2022
RELATED PARTY TRANSACTIONS	22. RELATED PARTY TRANSACTIONS Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly. Key management personnel include the Company’s executive officers and Board of Director members. In November 2020, the Company signed employment agreements with two directors of the Company. The agreements require total payments of CAD$17,500 each per month. Included in the agreements is a provision for 12 months written notice or salary paid in lieu of notice upon termination without just cause. In April 2021, one of the agreements was terminated and replaced with a consulting agreement with the same terms. In January 2021, the Company signed an employment agreement with the new CEO of the Company. The agreement requires payments of CAD$20,000 per month. Included in the agreement is: (1) a provision for three months written notice or salary paid in lieu of notice upon termination without just cause and (2) a provision to increase the base salary to CAD$30,000 per month, retroactive to January 1, 2021, upon the Company raising US$5 million in funding (achieved). Receivables at February 28, 2022 includes $ 14,010 0 Accounts payable and accrued liabilities at February 28, 2022 includes $ 185,425 275,486 During the three months ended February 28, 2022, the Company recorded revenue of $ 207,856 0 0 308,631 During the three months ended February 28, 2022, the Company recorded royalties, included in cost of sales, of $ 154,199 0 12,068 0 During the three months ended February 28, 2022, the Company incurred content curation costs, included in cost of sales, of $ 19,500 0 During the three months ended February 28, 2022, the Company incurred rent, included in other general and admin expenses, of $ 11,056 0 The following is a summary of key management personnel compensation: Schedule of key management personnel compensation Three months ended February 28, 2022 2021 $ $ Management and directors salaries and fees 238,755 134,899 Share-based compensation 117,028 505,316 Key management personnel compensation 355,783 640,215

CAPITAL DISCLOSURE AND MANAGEME

CAPITAL DISCLOSURE AND MANAGEMENT	3 Months Ended
	Feb. 28, 2022
CAPITAL DISCLOSURE AND MANAGEMENT	23. CAPITAL DISCLOSURE AND MANAGEMENT The Company defines its capital as components of shareholders’ equity. The Company’s objective when managing capital is to safeguard the Company’s ability to continue as a going concern. The Company manages its capital structure to maximize its financial flexibility making adjustments to it in response to changes in economic conditions and the risk characteristics of the underlying assets and business opportunities. The Company does not presently utilize any quantitative measures to monitor its capital. There were no changes to the Company’s capital management during the three months ended February 28, 2022. The Company is not subject to externally imposed capital requirements.

FINANCIAL INSTRUMENTS AND RISK

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	3 Months Ended
	Feb. 28, 2022
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	24. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are: · Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; · Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and · Level 3 – Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumption that market participants would use in pricing. The Company’s financial instruments consist of cash, restricted cash, receivables, accounts payable, and long-term debt. The fair value of receivables and accounts payable approximates their carrying values. Long-term debt has been valued using a valuation methodology on initial recognition. Cash and restricted cash is measured at fair value using level 1 inputs. The derivative liability for the warrants is measured using level 2 inputs. The derivative liability for the contingent consideration was measured at fair value using level 3 inputs. As at February 28, 2022, the fair value of the level 3 derivative liability was $ 991,886 1,277,200 The Company is exposed to a variety of financial risks by virtue of its activities including currency, credit, interest rate, and liquidity risk. a) Currency risk Foreign currency exchange rate risk is the risk that the fair value or future cash flows will fluctuate as a result of changes in foreign exchange rates. The Company’s operations are carried out in Canada and the United States. As the Company’s functional currency is USD, the Company is subject to foreign currency exchange rate risk on its net assets denominated in CAD which could have an adverse effect on the profitability of the Company. As at February 28, 2022, the Company had assets totaling CAD$570,832 and liabilities totalling CAD$758,239. A 10% change in the exchange rate would change comprehensive income (loss) by approximately $15,000. The Company currently does not have plans to enter into foreign currency future contracts to mitigate this risk, however it may do so in the future. b) Credit risk Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company’s cash is held in large Canadian and United States financial institutions. The Company maintains certain cash deposits with Schedule I financial institutions, which from time to time may exceed federally insured limits. The Company has not experienced any significant credit losses and believes it is not exposed to any significant credit risk. The Company’s sales tax receivable is due from the Government of Canada; therefore, the credit risk exposure is low. The maximum exposure to credit risk as at February 28, 2022 is the carrying value of the receivables and loans receivable. The Company has allowed for an expected credit loss of $ 356,070 b) Interest rate risk Interest rate risk is the risk the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Financial assets and liabilities with variable interest rates expose the Company to cash flow interest rate risk. The Company does not hold any financial liabilities with variable interest rates. The Company does maintain bank accounts which earn interest at variable rates but it does not believe it is currently subject to any significant interest rate risk. c) Liquidity risk The Company’s ability to continue as a going concern is dependent on management’s ability to raise required funding through future equity issuances and through short-term borrowing. The Company manages its liquidity risk by forecasting cash flows from operations and anticipating any investing and financing activities. Management and the Board of Directors are actively involved in the review, planning and approval of significant expenditures and commitments. As at February 28, 2022, the Company had a cash balance of $ 3,574,605

SUPPLEMENTAL DISCLOSURES WITH R

SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS	3 Months Ended
	Feb. 28, 2022
Supplemental Disclosures With Respect To Cash Flows
SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS	25. SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS Schedule of disclosures with respect to cash flows For the three months ended February 28, 2022 2021 $ $ Supplemental non-cash disclosures Reallocation of value of warrants upon exercise - 2,953 Shares issued for debt settlements - 486,403 Shares issued for commitment - 440,501 Acquisition advances eliminated on acquisition of subsidiary (Note 4) 127,293 -

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Feb. 28, 2022
Contingencies
CONTINGENCIES	26. CONTINGENCIES On December 1, 2021, a consultant commenced an action against the Company in which the Plaintiff claims that the Company is in breach of contract and owes the consultant 175,000 500,000

SEGMENTED INFORMATION

SEGMENTED INFORMATION	3 Months Ended
	Feb. 28, 2022
SEGMENTED INFORMATION	27. SEGMENTED INFORMATION During the three months ended February 28, 2022, the Company had four offices: a head office in Vancouver, British Columbia (Canada), a satellite office in Toronto, Ontario (Canada), IndieFlix’s office in Seattle, Washington (USA), and iGEMS’ office in Los Angeles, California (USA). During the three months ended February 28, 2021, the Company had two offices: a head office in Vancouver, British Columbia (Canada), a satellite office in Toronto, Ontario (Canada). In evaluating performance, management does not distinguish or group its sales and cost of sales on a geographic basis. As at February 28, 2021, the Company determined it had two 2 Revenue derived in the Company’s film and television entertainment and video games segments is earned from a large number of customers located throughout the world but mostly located in the United States of America. During the three months ended February 28, 2022, one customer accounted for 36% (February 28, 2021 – no customer accounted for more than 5%) of the Company’s sales. Below summarizes the Company’s reportable operating segments for the three months ended February 28, 2021. Schedule of reportable operating segments Film and Television Entertainment Video Games Total $ $ $ Segment Information Revenue 5,199 3,683 8,882 Cost of sales (24,404 ) (112,459 ) (136,863 ) Operating expenses (145,783 ) (18,850 ) (164,633 ) Segment profit (loss) (164,988 ) (127,626 ) (292,614 ) Corporate expenses: Operating expenses (1,675,695 ) Other income (expenses) 450,166 Comprehensive loss for the period (1,518,143 ) Capital expenditures - - -

PROPOSED TRANSACTION

PROPOSED TRANSACTION	3 Months Ended
	Feb. 28, 2022
Proposed Transaction
PROPOSED TRANSACTION	28. PROPOSED TRANSACTION a) On June 7, 2021, the Company entered into a Letter of Intent with Filmdab, Inc., operating as Filmocracy (“Filmocracy”) for the Company to acquire 100% of the issued and outstanding shares of Filmocracy by issuing up to 1,250,000 common shares of the Company to the shareholders of Filmocracy. 25% of the consideration shares will be issued to the shareholders of Filmocracy on closing of the proposed transaction while the remainder will be issued based on Filmocracy achieving certain revenue targets over a six year period (“Filmocracy Transaction”). The Company and Filmocracy are currently negotiating the terms for the definitive agreement. In connection with the proposed Filmocracy Transaction, on September 17, 2021, and subsequently extended on December 17, 2021, February 15, 2022, and March 31, 2022, the Company entered into an agreement with Filmocracy for $608,735 whereby the Company will advance $608,735 to Filmocracy as follows: (1) $ 244,292 190,594 6 10,453

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Feb. 28, 2022
SUBSEQUENT EVENTS	29. SUBSEQUENT EVENTS The Company had the following subsequent events, not disclosed elsewhere in these financial statements: a) On March 3, 2022, the Company issued 163,957 163,957 b) On March 7, 2022, the Company acquired 100% of the issued and outstanding shares of Digital Cinema United Holding Ltd. (“DCU”) (“DCU Shares”), in accordance with a Securities Exchange Agreement (“DCU SEA”), for common shares of the Company which are scheduled to be paid out to DCU shareholders across specific performance milestones in three tranches (“DCU Transaction”) as follows: · On closing of the SEA – 3,000,000 · Issuer Additional Shares: o Upon DCU achieving cumulative consolidated revenues of $4,750,000 before the fifth anniversary of the closing date (“DCU First Milepost”) – greater of (i) 750,000 common shares of Liquid and (ii) 3,750,000 divided by a per share price of the greater of $1.25 or the five-day Volume Weighted Average Price of Liquid common shares immediately prior to the achievement of the First Milepost. o Upon DCU achieving cumulative consolidated revenues of $10,287,000 (“DCU Second Milepost”) after the DCU First Milepost but before the fifth anniversary of the closing date; - the greater of (i) 3,750,000 divided by (A) the greater of $1.25 or (B) the five-day Volume Weighted Average Price of Liquid common shares immediately prior to the achievement of the DCU First Milepost; and (ii) 5,625,000, less (A) 3,000,000 and (B) the number of Issuer Additional Shares issued on achievement of the First Milepost. For additional clarification, the minimum aggregate total (i) Issuer Consideration Shares and (ii) Issuer Additional Shares issuable in connection with the achievement of both the First Milepost and Second Milepost is 5,625,000. Included in the DCU SEA is a buyback right that entitles the DCU shareholders to acquire the DCU Shares from the Company should the Company’s shares be delisted for more than 180 days for the following consideration: · all shares of the Company issued to the DCU shareholders; · any cash advanced to DCU by the Company; and · interest on each amount of cash advanced at a rate of 6%, compounded annually in arrears. In connection with the DCU Transaction, on August 31, 2021, the Company entered into an agreement with DCU whereby the Company advanced $1,147,928 to DCU as follows: (1) $ 573,964 573,964 6 31,281 The acquisition will be accounted for using the acquisition method pursuant to IFRS 3, Business Combinations The initial accounting for the acquisition was not complete by the issuance date of these condensed interim consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Feb. 28, 2022
Statement of compliance	Statement of compliance These condensed interim consolidated financial statements, including comparatives, have been prepared in accordance with International Accounts Standards (“IAS”) 34, “Condensed Interim Financial Reporting” using accounting policies consistent with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and Interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”) on a basis consistent with the accounting policies disclosed in the audited consolidated financial statements for the year ended November 30, 2021. This condensed interim financial report does not include all of the information required of a full annual financial report and is intended to provide users with an update in relation to events and transactions that are significant to an understanding of the changes in financial position and performance of the Company since the end of the last annual reporting period. Therefore, it is recommended that this financial report be read in conjunction with the restated audited annual financial statements of the Company for the year ended November 30, 2021.
Basis of presentation	Basis of presentation The condensed interim consolidated financial statements of the Company have been prepared on an accrual basis and are based on historical costs, except for certain financial assets and liabilities, including derivative instruments that are measured at fair value. The consolidated financial statements are presented in United States dollars unless otherwise noted. As at November 30, 2021, the Company changed its accounting policy to present its results in United States dollars instead of Canadian dollars as done previously. This accounting change has been applied retrospectively in preparing these financial statements; as such, all comparative figures have been restated to reflect this change.
Basis of consolidation	Basis of consolidation These condensed interim consolidated financial statements include the accounts of the Company and its subsidiaries at the end of the reporting period as follows: Schedule of Company and its subsidiaries at the end of the reporting period Percentage owned Incorporation 2022 2021 Liquid Media Group (Canada) Ltd. (“Liquid Canada”) Canada 100 % 100 % Liquid Media Production Funding Ltd. (“Liquid Production Funding”) Liquid Media (US) Holding Co., Inc. (“Liquid US”) USA 100 % 100 % Liquid Media Merger Sub 2, Inc. (“Liquid Merger Sub 2”) USA 100 % 100 % iGEMS TV, Inc., (“iGEMS”) USA 100 % 0 % IndieFlix Group, Inc. (“IndieFlix”) USA 100 % 100 % Companies controlled by IndieFlix: RACE, LLC USA 100 % 100 % On August 13, 2021 the Company incorporated Liquid US. On October 20, 2021 the Company incorporated Liquid Merger Sub 2. On November 30, 2021, the Company incorporated Liquid Production Funding. On August 27, 2021, the Company incorporated Liquid Media Merger Sub, Inc. which was amalgamated with IndieFlix on September 22, 2021 (Note 3). On September 22, 2021, the Company acquired 100% of the shares of IndieFlix, a Delaware corporation (Note 3). On October 20, 2021 the Company incorporated Liquid Merger Sub 3, which was amalgamated with iGEMS on December 14, 2021 (Note 4). On December 14, 2021, the Company acquired 100% of the shares of iGEMS, a Delaware corporation (Note 4). All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation. Subsidiaries Subsidiaries are all entities over which the Company has exposure to variable returns from its involvement and has the ability to use power over the investee to affect its returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Company controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company until the date on which control ceases.
Use of estimates	Use of estimates The preparation of financial statements in conformity with IFRS requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported revenues and expenses during the period. Although management uses historical experience and its best knowledge of the amount, events or actions to form the basis for judgments and estimates, actual results may differ from these estimates. Significant estimates and judgements made by management in the preparation of these consolidated financial statements are outlined below. Uncertainty of COVID-19 pandemic In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak and any related adverse public health developments, has adversely affected workforces, customers, economies, and financial markets globally, initially leading to an economic downturn. It has also disrupted the normal operations of many businesses, including ours. This outbreak could decrease spending, adversely affect demand for our services and solutions and harm our business and results of operations; however, the Company has also recognized that the pandemic has led to a global increase in screen time which is beneficial to the Company’s operations. As countries continue to re-open from the pandemic, it is possible that screen time will decrease which may adversely affect the Company; however, it also leads to an increase in film and TV content being produced as film and TV producers are able to travel and continue operations leading to an increase in content available for the Company to package, finance, deliver, and monetize. It is not possible for us to predict the duration or magnitude of the adverse results of the outbreak and its effects on our business, results of operations, or how it will impact the Company’s ability to conduct financings at this time. Functional currency The functional currency of the Company and its subsidiaries is the United States dollar; however, determination of functional currency may involve certain judgments to determine the primary economic environment which is re-evaluated for each new entity or if conditions change. Level of control or influence over companies The accounting for investments in other companies can vary depending on the degree of control and influence over those other companies. Management is required to assess at each reporting date the Company’s control and influence over these other companies. Management has used its judgment to determine which companies are controlled and require consolidation and those which are significantly influenced and require equity accounting. The Company had considered its ownership position in Waterproof Studios Inc. (“Waterproof”) and determined it did not have the ability to influence the key operating activities of the entity. Accordingly, the Company accounted for its investment under fair value through profit or loss (Note 9) up to the disposal date of October 18, 2021. Income taxes In assessing the probability of realizing income tax assets, management makes estimates related to expectation of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified. Determination of Cash Generating Units (“CGUs”) CGUs are the lowest level within an entity at which goodwill is monitored for internal management purposes which is not higher than an operating segment. The Company has assessed that each acquired entity is a separate CGU. Valuation of share-based compensation and derivatives The Company uses the Black-Scholes Option Pricing Model for valuation of share-based compensation and other equity based payments, excluding contingent consideration. Option pricing models require the input of subjective assumptions including expected price volatility, interest rate, and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company’s earnings and equity reserves. Valuation of contingent consideration The Company uses a probability scenario based approached for valuation of share-based contingent consideration. Under the probability scenario based approach, management calculates the probability that the contingent shares will be issued under a low case, base case, and high case scenario. Changes in the probabilities can materially affect the fair value estimate and the Company’s earnings and equity reserves. Valuation of intangible assets Intangible assets are assessed for impairment indicators at each reporting date. Management first reviews qualitative factors in determining if an impairment needs to be recorded. Quantitative factors are then used to calculate the amount of impairment, if needed. Valuation of investment in equity instrument The Company values its equity instruments in private companies at fair value at each reporting date. The determination of fair value is based on estimates made by management on the expected earnings before income, taxes, and amortization multiplied by a reasonable factor for the appropriate industry applicable to the private company. Estimation of expected credit loss Loans receivable are assessed for an estimated credit loss at each reporting date. The estimated loss is determined based on management’s knowledge of the debtor and their ability to repay the loan. As the current debtors’ are private entities, management must rely on assertions provided to them from the debtor to make their estimates. Valuation of convertible debentures The equity portion of the convertible debenture is calculated using a discounted cash flow method which requires management to make an estimate on an appropriate discount rate. Valuation of right-of-use asset and lease liability The application of IFRS 16 requires the Company to make judgments that affect the valuation of the right-of-use assets and the valuation of lease liabilities. These include: determining the contract term and determining the interest rate used for discounting of future cash flows. The lease term determined by the Company is comprised of the non-cancellable period of lease agreements, periods covered by an option to extend the lease if the Company is reasonably certain to exercise that option and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise that option. The present value of the lease payment is determined using a discount rate representing the rate of a commercial mortgage rate, observed in the period when the lease agreement commences or is modified.
Intangible assets	Intangible assets The Company has intangible assets from acquisitions and development of gaming content and films. The amortization method, useful life and residual values are assessed annually and the assets are tested for impairment annually, or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Amortization expense is recorded on a straight-line basis beginning with the month the corresponding assets are available for use and over the estimated useful lives provided below: Schedule of estimated useful lives of intangible assets Video game catalogues (in years) 15 Platform coding (in years) 3 Brands indefinite Distribution libraries (in years) 10 Upon retirement or disposal, the cost of the asset disposed of and the related accumulated amortization are removed from the accounts and any gain or loss is reflected in profit and loss. Expenditures for repairs and maintenance are expensed as incurred. Development expenditures, including the cost of material, direct labour, and other direct costs are recognized as an intangible asset when the following recognition requirements are met: · the development costs can be measured reliably; · the project is technically and commercially feasible; · the Company intends to and has sufficient resources to complete the project; · the Company has the ability to use or sell the asset, and · the asset will generate probable future economic benefits. Intangible assets being developed are amortized once development is complete. Video game catalogues The video game catalogues are made up of a diverse variety of games, ranging in age and popularity. The catalogues are unique due to the diverse nature of the products within the catalogues, making it difficult to assign a useful life. The useful life of 15 years represented management’s view of the expected period over which the Company expected to receive benefits from the acquired gaming content packaged as catalogues. Platform coding The platform coding acquired by the Company is currently under development and is not yet subject to amortization. Distribution libraries Through the acquisition of IndieFlix, the Company acquired distribution libraries. These assets are carried at cost, including amounts of purchase price allocations upon acquisitions.
Comparative figures	Comparative figures Certain of the comparative figures have been reclassified in order to conform to the current year’s presentation.
Accounting pronouncements not yet adopted	Accounting pronouncements not yet adopted Accounting standards or amendments to existing accounting standards that have been issued but have future effective dates are either not applicable or are not expected to have a significant impact on the Company’s consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of Company and its subsidiaries at the end of the reporting period	Schedule of Company and its subsidiaries at the end of the reporting period Percentage owned Incorporation 2022 2021 Liquid Media Group (Canada) Ltd. (“Liquid Canada”) Canada 100 % 100 % Liquid Media Production Funding Ltd. (“Liquid Production Funding”) Liquid Media (US) Holding Co., Inc. (“Liquid US”) USA 100 % 100 % Liquid Media Merger Sub 2, Inc. (“Liquid Merger Sub 2”) USA 100 % 100 % iGEMS TV, Inc., (“iGEMS”) USA 100 % 0 % IndieFlix Group, Inc. (“IndieFlix”) USA 100 % 100 % Companies controlled by IndieFlix: RACE, LLC USA 100 % 100 %
Schedule of estimated useful lives of intangible assets	Schedule of estimated useful lives of intangible assets Video game catalogues (in years) 15 Platform coding (in years) 3 Brands indefinite Distribution libraries (in years) 10

ACQUISITION OF INDIEFLIX GROU_2

ACQUISITION OF INDIEFLIX GROUP, INC. (Tables) - Indiex Flix [Member]	3 Months Ended
	Feb. 28, 2022
IfrsStatementLineItems [Line Items]
Schedule of Weighted average expected number of shares to vest	Schedule of Weighted average expected number of shares to vest February 28, 2022 November 30, 2021 Weighted average expected number of shares to vest Low Case 150,000 150,000 Base Case 600,000 600,000 High Case 280,000 280,000 Expected number of shares to vest 1,030,000 1,030,000 Liquid share price $ 0.68 $ 1.24
Schedule of estimate of the fair value of net assets acquired	Schedule of estimate of the fair value of net assets acquired Total $ Consideration: Common shares 799,994 IndieFlix Contingent Consideration 1,648,000 Total unadjusted purchase price 2,447,994 Cash acquired (21,076 ) Total purchase price, net of cash acquired 2,426,918 Allocated as follows: Accounts receivable 188,278 Inventory 105 Prepaids 8,335 Right-of-use asset 144,702 Accounts payable (606,560 ) Deferred revenue (251,435 ) Lease liability (144,702 ) Loans payable (508,255 ) Long-term debt (156,625 ) Intangible assets – distribution libraries 3,695,673 Goodwill 833,493 Deferred income taxes (776,091 ) Total 2,426,918

ACQUISITION OF iGEMS TV, INC. (

ACQUISITION OF iGEMS TV, INC. (Tables) - I G E M S [Member]	3 Months Ended
	Feb. 28, 2022
IfrsStatementLineItems [Line Items]
Schedule of Weighted average expected number of shares to vest	Schedule of Weighted average expected number of shares to vest February 28, 2022 December 14, 2021 Weighted average expected number of shares to vest Low Case 315,563 315,563 Base Case 422,025 422,025 High Case 561,638 561,638 Expected number of shares to vest 428,655 428,655 Liquid share price $ 0.68 $ 1.10
Schedule of estimate of the fair value of net assets acquired	Schedule of estimate of the fair value of net assets acquired Total $ Consideration: Common shares 233,750 iGEMS Contingent Consideration 471,521 Total unadjusted purchase price 705,271 Cash acquired (21,981 ) Total purchase price, net of cash acquired 683,290 Allocated as follows: Accounts receivable 10,749 Accounts payable (1,136 ) Loans payable (127,293 ) Goodwill 800,970 Total 683,290

RECEIVABLES (Tables)

RECEIVABLES (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of trade receivable	Schedule of trade receivable February 28, 2022 November 30, 2021 $ $ Accounts receivable 153,521 512,041 Sales tax receivable 283,244 266,464 Other receivables 14,010 - Receivables 450,775 778,505

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	3 Months Ended
	Feb. 28, 2022
Loans Receivable
Schedule of long term loans receivable including accrued interest	Schedule of long term loans receivable including accrued interest Participant Games Installment Entertainment Total $ $ $ Balance November 30, 2020 51,931 32,992 84,923 Accrued interest income 7,912 5,027 12,939 Expected credit loss (61,814 ) (39,271 ) (101,085 ) Net exchange differences 1,971 1,252 3,223 Balance, November 30, 2021 and February 28, 2022 - - -

LICENSES (Tables)

LICENSES (Tables)	3 Months Ended
	Feb. 28, 2022
Licenses
Schedule of reconciliation of licenses	Schedule of reconciliation of licenses February 28, 2022 November 30, 2021 $ Balance, beginning of period - 705,555 Amortization - (213,015 ) Write-offs - (492,751 ) Net exchange differences - 211 Balance, end of period - -

INVESTMENT IN EQUITY INSTRUME_2

INVESTMENT IN EQUITY INSTRUMENTS (Tables)	3 Months Ended
	Feb. 28, 2022
Investment In Equity Instruments
Schedule of reconciliation of the investment in Waterproof	Schedule of reconciliation of the investment in Waterproof February 28, 2022 November 30, 2021 $ $ Balance, beginning of period - 2,966,110 Change in fair value - 1,139,133 Disposal of investment - (4,105,243 ) Balance, end of period - -

EQUIPMENT (Tables)

EQUIPMENT (Tables)	3 Months Ended
	Feb. 28, 2022
Disclosure Equipment Abstract
Schedule of Equipment	Schedule of Equipment Computer Equipment Vehicles Total $ $ $ Cost: At November 30, 2020 93,962 43,303 137,265 Disposals (93,962 ) - (93,962 ) At November 30, 2021 - 43,303 43,303 Disposals - (43,303 ) (43,303 ) At February 28, 2022 - - - Depreciation: At November 30, 2020 29,011 - 29,011 Additions 19,485 12,991 32,476 Disposals (48,496 ) - (48,496 ) At November 30, 2021 - 12,991 12,991 Disposals - (12,991 ) (12,991 ) At February 28, 2022 - - - Net book value: At November 30, 2021 - 30,312 30,312 At February 28, 2022 - - -

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of intangible assets	Schedule of intangible assets Video Game Catalogues Platform Distribution Libraries Total $ $ $ $ Cost: At November 30, 2020 1,130,960 3,325,000 - 4,455,960 Additions - acquisition of IndieFlix (Note 3) - - 3,695,673 3,695,673 Impairments (890,445 ) (3,324,000 ) - (4,214,445 ) At November 30, 2021 and February 28, 2022 240,515 1,000 3,695,673 3,937,188 Amortization: At November 30, 2020 164,118 - - 164,118 Additions 75,397 - 61,595 136,992 At November 30, 2021 239,515 - 61,595 301,110 Additions 1,000 - 92,391 93,391 At February 28, 2022 240,515 - 153,986 394,501 Net book value: At November 30, 2021 1,000 1,000 3,634,078 3,636,078 At February 28, 2022 - 1,000 3,541,687 3,542,687

RIGHT-OF-USE- ASSET AND LEASE_2

RIGHT-OF-USE- ASSET AND LEASE LIABILITY (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of Right of Use Asset	Schedule of Right of Use Asset Office Space $ Cost: At November 30, 2020 - Additions - acquisition of IndieFlix (Note 3) 144,702 At November 30, 2021 and February 28, 2022 144,702 Amortization: At November 30, 2020 - Additions 10,718 At November 30, 2021 10,718 Additions 16,078 At February 28, 2022 26,796 Net book value: At November 30, 2022 133,984 At February 28, 2022 117,906
Schedule of Lease Liability	Schedule of Lease Liability February 28, 2022 November 30, 2021 $ $ Balance, beginning of period 135,175 - Additions (Note 3) - 144,702 Lease payments (16,065 ) (10,298 ) Interest expense 1,059 771 120,169 135,175 Less: current portion (63,171 ) (61,703 ) Balance, end of period 56,998 73,472
Schedule of lease payments	Schedule of lease payments $ Undiscounted minimum lease payments: March 1, 2021 – November 30, 2022 49,122 December 1, 2022 – November 30, 2023 69,093 December 1, 2023 – November 30, 2024 5,785 Total 124,000 Effect of discounting (3,831 ) Total present value of lease liabilities 120,169 Less: current portion (63,171 ) Balance, end of period 56,998

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Feb. 28, 2022
Disclosure Goodwill Abstract
Schedule of goodwill	Schedule of goodwill February 28, 2022 November 30, 2021 $ $ Balance, beginning of period 833,493 - Additions (Notes 3 and 4) 800,970 833,493 Balance, end of period 1,634,463 833,493

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	3 Months Ended
	Feb. 28, 2022
Accounts Payable And Accrued Liabilities
Schedule of Accounts Payable and Accured Liabilities	Schedule of Accounts Payable and Accured Liabilities February 28, 2022 November 30, 2021 $ $ Accounts payable 1,893,306 1,625,418 Accrued liabilities 91,795 242,601 Wages payable 53,038 102,079 Payroll taxes payable 54,890 31,634 Accounts payable and accrued liabilities 2,093,029 2,001,732

DEFERRED REVENUE (Tables)

DEFERRED REVENUE (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of Deferred Revenue	Schedule of Deferred Revenue February 28, 2022 November 30, 2021 $ Film distribution 678,114 179,196 Streaming subscriptions 6,367 4,798 Deferred Revenue 684,481 183,994

LOANS PAYABLE (Tables)

LOANS PAYABLE (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of loans payable balances and transactions	Schedule of loans payable balances and transactions Credit Facility $ Balance, November 30, 2020 493,087 Repayment - shares (498,329 ) Net exchange differences 5,242 Balance, November 30, 2021 and February 28, 2022 -

CONVERTIBLE DEBENTURES (Tables)

CONVERTIBLE DEBENTURES (Tables)	3 Months Ended
	Feb. 28, 2022
Convertible Debentures
Schedule of Convertible Debentures	Schedule of Convertible Debentures Liability component Equity component Total $ $ $ Balance, November 30, 2020 409,960 49,967 459,927 Interest expense and accretion 8,427 - 8,427 Conversion of convertible debentures (401,677 ) (49,967 ) (451,644 ) Reallocation of interest to accounts payable (16,710 ) - (16,710 ) Balance, November 30, 2021 - - -

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Feb. 28, 2022
Long-term Debt
Schedule of long term debt	Schedule of long term debt Third party SBA Loan Total $ $ $ Balance, November 30, 2020 (current and long-term) 40,059 - 40,059 Acquired on acquisition of IndieFlix (Note 3) - 156,625 156,625 Payments (42,775 ) - (42,775 ) Interest expense and accretion 2,716 1,640 4,356 Balance, November 30, 2021 (current and long-term) - 158,265 158,265 Interest expense and accretion - 2,506 2,506 Balance, February 28, 2022 - 160,771 160,771 Current portion - 4,092 4,092 Long-term portion - 156,679 156,679

SHARE CAPITAL AND RESERVES (Tab

SHARE CAPITAL AND RESERVES (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of authorized to issue of preferred shares	Schedule of authorized to issue of preferred shares Preferred shares without par value 9,999,900 Series “A” preferred shares 1,000,000 Series “B” preferred shares 100 Series “C” preferred shares 1,000,000 Series “D” preferred shares 4,000,000 Series “E” preferred shares 4,000,000 20,000,000
Schedule of weighted average assumptions by Black-Scholes option-pricing model	Schedule of weighted average assumptions by Black-Scholes option-pricing model February 28, 2022 November 30, 2021 Risk-free interest rate - 0.41 % Dividend yield - nil Expected life (in years) - 5.0 Volatility - 105 % Weighted average fair value per option - $ 1.18
Schedule of stock option transactions	Schedule of stock option transactions Number of Stock Options Weighted Average Exercise Price Weighted Average Share Price on Exercise $ $ Balance, November 30, 2020 957,995 $ 2.55 - Granted 1,072,450 $ 1.90 - Exercised (10,000 ) $ 1.90 $ 2.00 Cancelled (265,000 ) $ 1.90 - Balance, November 30, 2021 and February 28, 2022 1,755,445 $ 1.90 -
Schedule of summary of the share options outstanding and exercisable	Schedule of summary of the share options outstanding and exercisable Number Outstanding Number Exercisable Exercise Price Expiry Date $ 50,000 50,000 $ 1.90 May 14, 2022 257,995 257,995 $ 1.90 February 28, 2024 25,000 25,000 $ 1.90 January 8, 2025 25,000 25,000 $ 1.90 February 13, 2025 25,000 25,000 $ 1.90 March 10, 2025 25,000 25,000 $ 1.90 April 13, 2025 275,000 275,000 $ 1.90 July 23, 2025 750,715 428,980 $ 1.90 January 1, 2026 321,735 214,490 $ 1.90 January 14, 2026 1,755,445 1,326,465
Schedule of agents' warrant transactions	Schedule of agents' warrant transactions Number of Agents’ Warrants Weighted Average Exercise Price $ Balance, November 30, 2020 213,333 $ 1.88 Exercised (186,666 ) $ 1.88 Balance, November 30, 2021 and February 28, 2022 26,667 $ 1.88
Schedule of agents' warrants outstanding and exercisable	Schedule of agents' warrants outstanding and exercisable Number Outstanding Exercise Price Expiry Date $ 26,667 $ 1.88 June 4, 2025 26,667
Schedule of share purchase warrant transactions	Schedule of share purchase warrant transactions Number of Share Purchase Warrants Weighted Average Exercise Price $ Balance, November 30, 2020 3,033,709 $ 1.66 Issued 270,000 $ 1.75 Exercised (1,408,501 ) $ 1.84 Expired (1,516,000 ) $ 1.46 Balance, November 30, 2021 and February 28, 2022 379,208 $ 1.84
Schedule of share purchase warrants outstanding and exercisable for warrants	Schedule of share purchase warrants outstanding and exercisable for warrants Number Outstanding Exercise Price Expiry Date $ 24,208 * $ 1.20 April 6, 2022 355,000 $ 1.88 June 9, 2025 379,208 * expired unexercised subsequent to February 28, 2022
Schedule of Restricted share units	Schedule of Restricted share units Number of RSUs Balance, November 30, 2020 750,000 Vested (487,502 ) Cancelled (98,541 ) Balance, November 30, 2021 and February 28, 2022 163,957

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of key management personnel compensation	Schedule of key management personnel compensation Three months ended February 28, 2022 2021 $ $ Management and directors salaries and fees 238,755 134,899 Share-based compensation 117,028 505,316 Key management personnel compensation 355,783 640,215

SUPPLEMENTAL DISCLOSURES WITH_2

SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS (Tables)	3 Months Ended
	Feb. 28, 2022
Supplemental Disclosures With Respect To Cash Flows
Schedule of disclosures with respect to cash flows	Schedule of disclosures with respect to cash flows For the three months ended February 28, 2022 2021 $ $ Supplemental non-cash disclosures Reallocation of value of warrants upon exercise - 2,953 Shares issued for debt settlements - 486,403 Shares issued for commitment - 440,501 Acquisition advances eliminated on acquisition of subsidiary (Note 4) 127,293 -

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	3 Months Ended
	Feb. 28, 2022
Schedule of reportable operating segments	Schedule of reportable operating segments Film and Television Entertainment Video Games Total $ $ $ Segment Information Revenue 5,199 3,683 8,882 Cost of sales (24,404 ) (112,459 ) (136,863 ) Operating expenses (145,783 ) (18,850 ) (164,633 ) Segment profit (loss) (164,988 ) (127,626 ) (292,614 ) Corporate expenses: Operating expenses (1,675,695 ) Other income (expenses) 450,166 Comprehensive loss for the period (1,518,143 ) Capital expenditures - - -

NATURE AND CONTINUANCE OF OPE_2

NATURE AND CONTINUANCE OF OPERATIONS (Details Narrative) - USD ($)	Feb. 28, 2022	Nov. 30, 2021
Nature And Continuance Of Operations
Accumulated deficit	$ 32,332,887	$ 31,462,167

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
Liquid Media Group [Member]
Reserve Quantities [Line Items]
Percentage owned	100.00%	100.00%
Liquid U S [Member]
Reserve Quantities [Line Items]
Percentage owned	100.00%	100.00%
Liquid Merger Sub 2 [Member]
Reserve Quantities [Line Items]
Percentage owned	100.00%	100.00%
I G E M S [Member]
Reserve Quantities [Line Items]
Percentage owned	100.00%	0.00%
Indie Flix [Member]
Reserve Quantities [Line Items]
Percentage owned	100.00%	100.00%
Indie Flix R A C E L L C [Member]
Reserve Quantities [Line Items]
Percentage owned	100.00%	100.00%

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES (Details 1)	3 Months Ended
	Feb. 28, 2022
Video Game Catalogues [Member]
IfrsStatementLineItems [Line Items]
Intangible assets useful lives	15 years
Platform Coding [Member]
IfrsStatementLineItems [Line Items]
Intangible assets useful lives	3 years
Brands [Member]
IfrsStatementLineItems [Line Items]
Intangible assets useful lives	indefinite
Distribution Libraries [Member]
IfrsStatementLineItems [Line Items]
Intangible assets useful lives	10 years

ACQUISITION OF INDIEFLIX GROU_3

ACQUISITION OF INDIEFLIX GROUP, INC. (Details) - Indiex Flix [Member] - $ / shares	Feb. 28, 2022	Nov. 30, 2021
Weighted average expected number of shares to vest
Low Case	150,000	150,000
Base Case	600,000	600,000
High Case	280,000	280,000
Expected number of shares to vest	1,030,000	1,030,000
Liquid share price	$ 0.68	$ 1.24

ACQUISITION OF INDIEFLIX GROU_4

ACQUISITION OF INDIEFLIX GROUP, INC. (Details 1) - USD ($)	Feb. 28, 2022	Nov. 30, 2021	Sep. 22, 2021	Nov. 30, 2020
Allocated as follows:
Right-of-use asset	$ 117,906	$ 133,984
Deferred revenue	684,481	183,994
Lease liability	(56,998)	(135,175)
Intangible assets – distribution libraries	3,542,687	3,636,078
Goodwill	$ 1,634,463	$ 833,493
Indiex Flix [Member]
Consideration:
Common shares			$ 799,994
IndieFlix Contingent Consideration			(1,648,000)
Total unadjusted purchase price			2,447,994
Cash acquired			(21,076)
Total purchase price, net of cash acquired			2,426,918
Allocated as follows:
Accounts receivable			188,278
Inventory			105
Prepaids			8,335
Right-of-use asset			144,702
Accounts payable			(606,560)
Deferred revenue			(251,435)
Lease liability			(144,702)
Loans payable			(508,255)
Long-term debt			156,625
Intangible assets – distribution libraries			3,695,673
Goodwill			833,493
Deferred income taxes			(776,091)
Total			$ 2,426,918

ACQUISITION OF INDIEFLIX GROU_5

ACQUISITION OF INDIEFLIX GROUP, INC. (Details Narrative)	1 Months Ended
	Sep. 22, 2021USD ($)
Acquisition Of Indieflix Group Inc.
Intangible assets acquired	$ 3,695,673
Useful life	10 years

ACQUISITION OF iGEMS TV, INC._2

ACQUISITION OF iGEMS TV, INC. (Details) - I G E M S [Member] - $ / shares	Feb. 28, 2022	Dec. 14, 2021
Weighted average expected number of shares to vest
Low Case	315,563	315,563
Base Case	422,025	422,025
High Case	561,638	561,638
Expected number of shares to vest	428,655	428,655
Liquid share price	$ 0.68	$ 1.10

ACQUISITION OF iGEMS TV, INC._3

ACQUISITION OF iGEMS TV, INC. (Details 1) - USD ($)	Feb. 28, 2022	Dec. 14, 2021	Nov. 30, 2021	Nov. 30, 2020
Allocated as follows:
Goodwill	$ 1,634,463		$ 833,493
I G E M S [Member]
Consideration:
Common shares		$ 233,750
iGEMS Contingent Consideration		471,521
Total unadjusted purchase price		705,271
Cash acquired		(21,981)
Total purchase price, net of cash acquired		683,290
Allocated as follows:
Accounts receivable		10,749
Accounts payable		(1,136)
Loans payable		(127,293)
Goodwill		800,970
Total		$ 683,290

RECEIVABLES (Details)

RECEIVABLES (Details) - USD ($)	Feb. 28, 2022	Nov. 30, 2021
Accounts receivable	$ 153,521	$ 512,041
Sales tax receivable	283,244	266,464
Other receivables	14,010
Receivables	$ 450,775	$ 778,505

LOANS RECEIVABLE (Details)

LOANS RECEIVABLE (Details)	12 Months Ended
	Nov. 30, 2021USD ($)
IfrsStatementLineItems [Line Items]
Opening balance	$ 84,923
Accrued interest income	12,939
Expected credit loss	(101,085)
Net exchange differences	3,223
Closing balance
Participant Games Inc [Member]
IfrsStatementLineItems [Line Items]
Opening balance	51,931
Accrued interest income	7,912
Expected credit loss	(61,814)
Net exchange differences	1,971
Closing balance
Installment Entertainment Inc [Member]
IfrsStatementLineItems [Line Items]
Opening balance	32,992
Accrued interest income	5,027
Expected credit loss	(39,271)
Net exchange differences	1,252
Closing balance

LOANS RECEIVABLE (Details Narra

LOANS RECEIVABLE (Details Narrative)	12 Months Ended
	Nov. 30, 2017CAD ($)	Nov. 30, 2021USD ($)
Participant Games Inc [Member]
IfrsStatementLineItems [Line Items]
Advances	$ 150,000
Loan receivable interest rate	15.00%
Accrued interest receivable		$ 127,114
Allowance for credit loss		244,369
Installment Entertainment Inc [Member]
IfrsStatementLineItems [Line Items]
Advances	$ 100,000
Loan receivable interest rate	15.00%
Accrued interest receivable		77,077
Allowance for credit loss		$ 155,247

RESTRICTED CASH (Details Narrat

RESTRICTED CASH (Details Narrative) - USD ($)	Feb. 28, 2022	Nov. 30, 2021
Restricted cash and cash equivalents	$ 54,338	$ 53,937

LICENSES (Details)

LICENSES (Details) - USD ($)	3 Months Ended		12 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Nov. 30, 2021
Licenses
Balance, beginning of year		$ 705,555	$ 705,555
Amortization		$ 105,403	(213,015)
Write-offs			(492,751)
Net exchange differences			211
Balance, end of year

LICENSES (Details Narrative)

LICENSES (Details Narrative) - USD ($)	3 Months Ended			12 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Feb. 29, 2020	Nov. 30, 2021	Nov. 30, 2018
Licenses
Number of common shares issued for licenses					888,000
Amount of common shares issued for licenses					$ 3,756,360
Unamortized balance			$ 250,581	$ 705,555
Amortization licenses cost		$ 105,403		$ (213,015)

INVESTMENT IN EQUITY INSTRUME_3

INVESTMENT IN EQUITY INSTRUMENTS (Details) - Waterproof [Member] - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
IfrsStatementLineItems [Line Items]
Balance, beginning of year		$ 2,966,110
Change in fair value		1,139,133
Disposal of investment		(4,105,243)
Balance, end of year

INVESTMENT IN EQUITY INSTRUME_4

INVESTMENT IN EQUITY INSTRUMENTS (Details Narrative) - Waterproof [Member]	Oct. 18, 2021USD ($)
IfrsStatementLineItems [Line Items]
Estimated common shares value	$ 4,105,243
Unrealized gain on equity instruments	$ 1,139,133

EQUIPMENT (Details)

EQUIPMENT (Details) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
IfrsStatementLineItems [Line Items]
Net book value		$ 30,312
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	43,303
Disposals	(43,303)	(93,962)
Ending Balance		43,303
Accumulated impairment [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	12,991	29,011
Additions		32,476
Disposals	(12,991)	(48,496)
Ending Balance		12,991
Computer equipment [member]
IfrsStatementLineItems [Line Items]
Net book value
Computer equipment [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning Balance		93,962
Disposals		(93,962)
Ending Balance
Computer equipment [member] | Accumulated impairment [member]
IfrsStatementLineItems [Line Items]
Beginning Balance		29,011
Additions		19,485
Disposals		(48,496)
Ending Balance
Vehicles [member]
IfrsStatementLineItems [Line Items]
Net book value		30,312
Vehicles [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	43,303	43,303
Disposals	(43,303)
Ending Balance		43,303
Vehicles [member] | Accumulated impairment [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	12,991
Additions		12,991
Disposals	(12,991)
Ending Balance		12,991
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning Balance		$ 137,265

EQUIPMENT (Details Narrative)

EQUIPMENT (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Nov. 30, 2021
Disclosure Equipment Abstract
Loss on disposal of equipment		$ 45,466
Gain on disposal of equipment	$ 6,688

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
IfrsStatementLineItems [Line Items]
Net book value	$ 3,542,687	$ 3,636,078
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning balance	3,937,188	4,455,960
Additions		3,695,673
Impairments		(4,214,445)
Ending balance		3,937,188
Accumulated depreciation and amortisation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	301,110	164,118
Additions	93,391	136,992
Ending balance	394,501	301,110
Video Game Catalogues [Member]
IfrsStatementLineItems [Line Items]
Net book value		1,000
Video Game Catalogues [Member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning balance	240,515	1,130,960
Additions
Impairments		(890,445)
Ending balance		240,515
Video Game Catalogues [Member] | Accumulated depreciation and amortisation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	239,515	164,118
Additions	1,000	75,397
Ending balance	240,515	239,515
Platform Coding [Member]
IfrsStatementLineItems [Line Items]
Net book value	1,000	1,000
Platform Coding [Member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning balance	1,000	3,325,000
Additions
Impairments		(3,324,000)
Ending balance		1,000
Platform Coding [Member] | Accumulated depreciation and amortisation [member]
IfrsStatementLineItems [Line Items]
Beginning balance
Additions
Ending balance
Distribution Libraries [Member]
IfrsStatementLineItems [Line Items]
Net book value	3,541,687	3,634,078
Distribution Libraries [Member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning balance	3,695,673
Additions		3,695,673
Impairments
Ending balance		3,695,673
Distribution Libraries [Member] | Accumulated depreciation and amortisation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	61,595
Additions	92,391	61,595
Ending balance	$ 153,986	$ 61,595

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	12 Months Ended
	Nov. 30, 2021	Nov. 30, 2020
IfrsStatementLineItems [Line Items]
Goodwill Acquire distribution libraries	$ 3,695,673
Impairment of intangible assets	$ 4,214,445
Video Game Catalogues [Member]
IfrsStatementLineItems [Line Items]
Development costs		$ 3,325,000

RIGHT-OF-USE- ASSET AND LEASE_3

RIGHT-OF-USE- ASSET AND LEASE LIABILITY (Details) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
IfrsStatementLineItems [Line Items]
Beginning Balance	$ 133,984
Ending Balance	117,906	$ 133,984
Right-of-use assets [member]
IfrsStatementLineItems [Line Items]
Net book value	117,906	133,984
Right-of-use assets [member] | Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	144,702
Additions		144,702
Ending Balance		144,702
Right-of-use assets [member] | Accumulated impairment [member]
IfrsStatementLineItems [Line Items]
Beginning Balance	10,718
Additions	16,078	10,718
Ending Balance	$ 26,796	$ 10,718

RIGHT-OF-USE- ASSET AND LEASE_4

RIGHT-OF-USE- ASSET AND LEASE LIABILITY (Details 1) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
Balance, beginning of year	$ 135,175
Additions		144,702
Lease payments	(16,065)	(10,298)
Interest expense	1,059	771
Gross lease liability	120,169	135,175
Less: current portion	(63,171)	(61,703)
Balance, end of year	$ 56,998	$ 73,472

RIGHT-OF-USE- ASSET AND LEASE_5

RIGHT-OF-USE- ASSET AND LEASE LIABILITY (Details 2) - USD ($)	Feb. 28, 2022	Nov. 30, 2021	Nov. 30, 2020
December 1, 2021 - November 30, 2022	$ 49,122
December 1, 2022 - November 30, 2023	69,093
December 1, 2023 - November 30, 2024	5,785
Total	124,000
Effect of discounting	(3,831)
Total present value of lease liabilities	120,169	$ 135,175
Less: current portion	(63,171)	(61,703)
Balance, end of year	$ 56,998	$ 135,175

RIGHT-OF-USE- ASSET AND LEASE_6

RIGHT-OF-USE- ASSET AND LEASE LIABILITY (Details Narrative)	3 Months Ended
	Feb. 28, 2022
Lease liability discount rate	3.25%

GOODWILL (Details)

GOODWILL (Details) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
Disclosure Goodwill Abstract
Balance, beginning of period	$ 833,493
Goodwill acquired	800,970	833,493
Balance, end of period	$ 1,634,463	$ 833,493

GOODWILL (Details Narrative)

GOODWILL (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
IfrsStatementLineItems [Line Items]
Goodwill acquired	$ 800,970	$ 833,493
Indie Flix [Member]
IfrsStatementLineItems [Line Items]
Goodwill acquired		$ 833,493
I G E M S [Member]
IfrsStatementLineItems [Line Items]
Goodwill acquired	$ 800,970

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Feb. 28, 2022	Nov. 30, 2021
Accounts Payable And Accrued Liabilities
Accounts payable	$ 1,893,306	$ 1,625,418
Accrued liabilities	91,795	242,601
Wages payable	53,038	102,079
Payroll taxes payable	54,890	31,634
Accounts payable and accrued liabilities	$ 2,093,029	$ 2,001,732

ACCOUNTS PAYABLE AND ACCRUED _4

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details Narrative) - USD ($)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
Accounts Payable And Accrued Liabilities
Stock issued during period, shares, issued for settlement of accounts payable	0	2,984
Stock issued during period, value, issued for settlement of accounts payable	$ 0	$ 6,953
Amount of accounts payable settlement	0	7,851
Gain on debt settlements	$ 0	$ 898
Number of shares transferred	215,000
Settlement of interest included in accounts payable	$ 18,481

DEFERRED REVENUE (Details)

DEFERRED REVENUE (Details) - USD ($)	Feb. 28, 2022	Nov. 30, 2021
Film distribution	$ 678,114	$ 179,196
Streaming subscriptions	6,367	4,798
Deferred Revenue	$ 684,481	$ 183,994

LOANS PAYABLE (Details)

LOANS PAYABLE (Details) - Credit Facility [Member]	12 Months Ended
	Nov. 30, 2021USD ($)
IfrsStatementLineItems [Line Items]
Balance	$ 493,087
Repayment - shares	(498,329)
Net exchange differences	5,242
Balance

LOANS PAYABLE (Details Narrativ

LOANS PAYABLE (Details Narrative) - USD ($)	Feb. 28, 2022	Nov. 30, 2021	Nov. 30, 2020
IfrsStatementLineItems [Line Items]
Accounts payable and accrued liabilities	$ 2,093,029	$ 2,001,732
Credit Facility [Member]
IfrsStatementLineItems [Line Items]
Percentage of interest rate	14.40%
Accounts payable and accrued liabilities			$ 5,447

CONVERTIBLE DEBENTURES (Details

CONVERTIBLE DEBENTURES (Details) - USD ($)	3 Months Ended		12 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Nov. 30, 2021
IfrsStatementLineItems [Line Items]
Balance at beginning		$ 459,927	$ 459,927
Interest expense and accretion	0	12,752	8,427
Conversion of convertible debentures			(451,644)
Reallocation of interest to accounts payable			(16,710)
Balance at end
Liability Component
IfrsStatementLineItems [Line Items]
Balance at beginning		409,960	409,960
Interest expense and accretion			8,427
Conversion of convertible debentures			(401,677)
Reallocation of interest to accounts payable			(16,710)
Balance at end
Equity Component
IfrsStatementLineItems [Line Items]
Balance at beginning		$ 49,967	49,967
Interest expense and accretion
Conversion of convertible debentures			(49,967)
Reallocation of interest to accounts payable
Balance at end

CONVERTIBLE DEBENTURES (Detai_2

CONVERTIBLE DEBENTURES (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Nov. 30, 2021	Nov. 30, 2019
Convertible Debentures
Deferred tax recovery				$ 122,201
Interest expense and accretion	$ 0	$ 12,752	$ 8,427

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
IfrsStatementLineItems [Line Items]
Balance at Beginning	$ 158,265	$ 40,059
Acquired on acquisition of IndieFlix		156,625
Payments		(42,775)
Interest expense and accretion	2,506	4,356
Balance at end	160,771	158,265
Current portion	4,092
Long-term portion	156,679	158,265
Third Party [Member]
IfrsStatementLineItems [Line Items]
Balance at Beginning		40,059
Acquired on acquisition of IndieFlix
Payments		(42,775)
Interest expense and accretion		2,716
Balance at end
Current portion
Long-term portion
S B A Loan [Member]
IfrsStatementLineItems [Line Items]
Balance at Beginning	158,265
Acquired on acquisition of IndieFlix		156,625
Payments
Interest expense and accretion	2,506	1,640
Balance at end	160,771	$ 158,265
Current portion	4,092
Long-term portion	$ 156,679

SHARE CAPITAL AND RESERVES (Det

SHARE CAPITAL AND RESERVES (Details)	Feb. 28, 2022shares
IfrsStatementLineItems [Line Items]
Number of shares authorized	20,000,000
Preferred Shares Without Par Value [Member]
IfrsStatementLineItems [Line Items]
Number of shares authorized	9,999,900
Series A Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Number of shares authorized	1,000,000
Series B Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Number of shares authorized	100
Series C Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Number of shares authorized	1,000,000
Series D Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Number of shares authorized	4,000,000
Series E Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Number of shares authorized	4,000,000

SHARE CAPITAL AND RESERVES (D_2

SHARE CAPITAL AND RESERVES (Details 1) - $ / shares	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
Risk-free interest rate		0.41%
Dividend yield
Expected life		5 years
Volatility		105.00%
Weighted average fair value per option		$ 1.18

SHARE CAPITAL AND RESERVES (D_3

SHARE CAPITAL AND RESERVES (Details 2)	3 Months Ended	12 Months Ended
	Feb. 28, 2022shares$ / shares	Nov. 30, 2021shares$ / shares
Balance | shares	1,755,445	957,995
Balance	$ 1.90	$ 2.55
Granted | shares		1,072,450
Granted		$ 1.90
Exercised | shares		(10,000)
Exercised		$ 1.90
Exercised		$ 2
Cancelled | shares		(265,000)
Cancelled		$ 1.90
Balance | shares	1,755,445	1,755,445
Balance		$ 1.90

SHARE CAPITAL AND RESERVES (D_4

SHARE CAPITAL AND RESERVES (Details 3)	3 Months Ended
	Feb. 28, 2022shares$ / shares	Nov. 30, 2021shares	Nov. 30, 2020shares
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	1,755,445	1,755,445	957,995
Number Exercisable	1,326,465
Range 1 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	50,000
Number Exercisable	50,000
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	May 14, 2022
Range 2 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	257,995
Number Exercisable	257,995
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	Feb. 28, 2024
Range 3 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	25,000
Number Exercisable	25,000
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	Jan. 8, 2025
Range 4 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	25,000
Number Exercisable	25,000
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	Feb. 13, 2025
Range 5 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	25,000
Number Exercisable	25,000
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	Mar. 10, 2025
Range 6 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	25,000
Number Exercisable	25,000
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	Apr. 13, 2025
Range 7 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	275,000
Number Exercisable	275,000
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	Jul. 23, 2025
Range 8 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	750,715
Number Exercisable	428,980
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	Jan. 1, 2026
Range 9 [Member]
IfrsStatementLineItems [Line Items]
Number of Stock Options Outstanding	321,735
Number Exercisable	214,490
Exercise Price | $ / shares	$ 1.90
Expiry Date Exercise Price Of Outstanding Share Options	Jan. 14, 2026

SHARE CAPITAL AND RESERVES (D_5

SHARE CAPITAL AND RESERVES (Details 4)	12 Months Ended
	Nov. 30, 2021shares$ / shares
IfrsStatementLineItems [Line Items]
Balance	$ 2.55
Exercised	1.90
Balance	$ 1.90
Agents Warrants [Member]
IfrsStatementLineItems [Line Items]
Balance | shares	213,333
Balance	$ 1.88
Exercised | shares	(186,666)
Exercised	$ 1.88
Balance | shares	26,667
Balance	$ 1.88

SHARE CAPITAL AND RESERVES (D_6

SHARE CAPITAL AND RESERVES (Details 5)	3 Months Ended
	Feb. 28, 2022shares$ / shares	Nov. 30, 2021shares	Nov. 30, 2020shares
IfrsStatementLineItems [Line Items]
Number of Warrants	26,667
Agents Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of Warrants	26,667	26,667	213,333
Exercise Price | $ / shares	$ 1.88
Expiry Date	Jun. 4, 2025

SHARE CAPITAL AND RESERVES (D_7

SHARE CAPITAL AND RESERVES (Details 6)	12 Months Ended
	Nov. 30, 2021shares$ / shares
IfrsStatementLineItems [Line Items]
Balance	$ 2.55
Exercised	1.90
Expired	1.90
Balance	$ 1.90
Share Purchase Warrants [Member]
IfrsStatementLineItems [Line Items]
Balance | shares	3,033,709
Balance	$ 1.66
Issued | shares	270,000
Issued	$ 1.75
Exercised | shares	(1,408,501)
Exercised	$ 1.84
Expired | shares	(1,516,000)
Expired	$ 1.46
Balance | shares	379,208
Balance	$ 1.84

SHARE CAPITAL AND RESERVES (D_8

SHARE CAPITAL AND RESERVES (Details 7)		3 Months Ended
		Feb. 28, 2022shares$ / shares	Nov. 30, 2021shares	Nov. 30, 2020shares
IfrsStatementLineItems [Line Items]
Number of Warrants		26,667
Share Purchase Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of Warrants		379,208	379,208	3,033,709
Share Purchase Warrants [Member] | Ranges Of Exercise Prices 1. 20 [Member]
IfrsStatementLineItems [Line Items]
Number of Warrants	[1]	24,208
Exercise Price | $ / shares		$ 1.20
Expiry Date		Apr. 6, 2022
Share Purchase Warrants [Member] | Ranges Of Exercise Prices 1. 88 [Member]
IfrsStatementLineItems [Line Items]
Number of Warrants		355,000
Exercise Price | $ / shares		$ 1.88
Expiry Date		Jun. 9, 2025
[1]	expired unexercised subsequent to February 28, 2022

SHARE CAPITAL AND RESERVES (D_9

SHARE CAPITAL AND RESERVES (Details 8) - Restricted share units	12 Months Ended
	Nov. 30, 2021shares
IfrsStatementLineItems [Line Items]
Balance	750,000
Vested	(487,502)
Cancelled	(98,541)
Balance	163,957

SHARE CAPITAL AND RESERVES (_10

SHARE CAPITAL AND RESERVES (Details Narrative)	Dec. 14, 2021USD ($)shares	Sep. 07, 2021USD ($)$ / sharesshares	Sep. 03, 2021USD ($)shares	Jun. 09, 2021USD ($)shares	Mar. 03, 2021USD ($)shares	Feb. 12, 2021USD ($)shares	Jan. 14, 2021USD ($)shares$ / shares	Jan. 01, 2021USD ($)shares$ / shares	Sep. 22, 2021USD ($)shares	Mar. 22, 2021USD ($)$ / sharesshares	Jan. 29, 2021USD ($)shares	Jan. 25, 2021USD ($)shares	Feb. 28, 2022USD ($)shares$ / shares	Feb. 28, 2021USD ($)	Nov. 30, 2021USD ($)shares$ / shares
IfrsStatementLineItems [Line Items]
Gain on debt settlements													$ 0	$ 898
Common stock issued for restricted share units vested, shares | shares			237,501		250,001
Common stock issued for restricted share units vested, value			$ 349,127		$ 372,376
Number of restricted share units | shares			237,501		250,001
Fair value of rsu vested			$ 349,127		$ 372,376
Common shares issued in connection with direct offering, shares | shares										1,791,045
Share Price | $ / shares		$ 2.09								$ 3.35
Common shares issued in connection with direct offering, value										$ 6,000,000
Legal Fees										69,095
Agent fees										470,000
Filing fees										$ 15,950
Common stock issued | shares		437,365
Proceeds from issuance of common stock		$ 915,230
Stock issued for conversion of debt, Shares | shares															270,000
Stock issued for conversion of debt, Value															$ 405,000
Stock Option granted | shares															1,072,450
Share-based compensation													355,783	640,215
Derivative liability													0		$ 285,988
Derivative gain													$ 160,364	22,849
Share Purchase Warrants [Member]
IfrsStatementLineItems [Line Items]
Common stock issued | shares															367,084
Proceeds from warrants exercised															$ 440,501
Number of warrants exercised | shares															367,084
Warrants exercise price | $ / shares															$ 1.20
Weighted average life													3 years 4 months 9 days
Share Purchase Warrants 1 [Member]
IfrsStatementLineItems [Line Items]
Common stock issued | shares															430,167
Proceeds from warrants exercised															$ 752,793
Number of warrants exercised | shares															430,167
Warrants exercise price | $ / shares															$ 1.75
Fair value of warrants exercised | $ / shares															$ 2,953
Share Purchase Warrants 2 [Member]
IfrsStatementLineItems [Line Items]
Common stock issued | shares															990,000
Proceeds from warrants exercised															$ 1,861,200
Number of warrants exercised | shares															990,000
Warrants exercise price | $ / shares															$ 1.88
Fair value of warrants exercised | $ / shares															$ 221,353
Cashless Warrants [Member]
IfrsStatementLineItems [Line Items]
Common stock issued | shares															121,319
Proceeds from warrants exercised															$ 423,503
Number of warrants exercised | shares															175,000
Fair value of warrants exercised | $ / shares															$ 423,503
Stock Options [Member]
IfrsStatementLineItems [Line Items]
Common stock issued | shares															10,000
Proceeds from stock option exercised															$ 19,000
Number of stock option exercised | shares															10,000
Fair value of stock option exercised															$ 19,561
Agents Warrants [Member]
IfrsStatementLineItems [Line Items]
Weighted average life													3 years 2 months 12 days
Share Purchase Warrants 3 [Member]
IfrsStatementLineItems [Line Items]
Warrants exercise price | $ / shares													$ 1.75
Warrants issued | shares													270,000
Restricted share units
IfrsStatementLineItems [Line Items]
Stock Option granted | shares													1,000,001
Share-based compensation													$ 39,728	340,443
Consultant [Member]
IfrsStatementLineItems [Line Items]
Common stock issued for settlement of accounts payable, Shares | shares												2,984
Common stock issued for settlement of accounts payable, Value												$ 6,953
Settlement of accounts payable												7,851
Gain on debt settlements												$ 898
Common stock issued for services provided, shares | shares				39,894							17,907
Common stock issued for services provided, Value				$ 75,000							$ 46,948
Stock Option granted | shares							321,735
Fair value of stock option granted							$ 408,202
Exercise price | $ / shares							$ 1.90
Share-based compensation													22,388	181,901
Creditor [Member]
IfrsStatementLineItems [Line Items]
Number of treasury shares transferred | shares						215,000
Value of treasury shares transferred						$ 479,450
Officer [Member]
IfrsStatementLineItems [Line Items]
Stock Option granted | shares								750,715
Fair value of stock option granted								$ 861,681
Exercise price | $ / shares								$ 1.90
Share-based compensation													$ 77,754	$ 137,118
I G E M S [Member]
IfrsStatementLineItems [Line Items]
Stock issued for acquisition, shares | shares	212,500
Stock issued for acquisition, value	$ 233,750
Indie Flix [Member]
IfrsStatementLineItems [Line Items]
Stock issued for acquisition, shares | shares									499,996
Stock issued for acquisition, value									$ 799,994

ROYALTY INCOME (Details Narrati

ROYALTY INCOME (Details Narrative) - USD ($)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
IfrsStatementLineItems [Line Items]
Royalty income	$ 12,068
Indie Flix [Member]
IfrsStatementLineItems [Line Items]
Royalty income	$ 12,068	$ 0

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
Management and directors salaries and fees	$ 238,755	$ 134,899
Share-based compensation	117,028	505,316
Key management personnel compensation	$ 355,783	$ 640,215

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021	Nov. 30, 2021
IfrsStatementLineItems [Line Items]
Receivable	$ 14,010		$ 0
Revenue	577,689	$ 8,882
Royalty income	12,068
Directors [Member]
IfrsStatementLineItems [Line Items]
Accounts payable and accrued liabilities	185,425		275,486
Revenue	207,856	0
Rent	11,056	0
Indie Flix [Member]
IfrsStatementLineItems [Line Items]
Receivable	0		$ 308,631
Royalties	154,199	0
Royalty income	12,068	0
I G E M S [Member]
IfrsStatementLineItems [Line Items]
Content curation costs	$ 19,500	$ 0

FINANCIAL INSTRUMENTS AND RIS_2

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Details Narrative) - USD ($)	3 Months Ended
	Feb. 28, 2022	Nov. 30, 2021
Derivative liabilities	$ 991,886	$ 1,277,200
Expected credit loss loans receivable	356,070
Cash	$ 3,574,605	$ 4,305,461

SUPPLEMENTAL DISCLOSURES WITH_3

SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS (Details) - USD ($)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
Supplemental non-cash disclosures
Reallocation of value of warrants upon exercise		$ 2,953
Shares issued for debt settlements		486,403
Shares issued for commitment		440,501
Acquisition advances eliminated on acquisition of subsidiary (Note 4)	$ 127,293

CONTINGENCIES (Details Narrativ

CONTINGENCIES (Details Narrative)	3 Months Ended
	Feb. 28, 2022USD ($)shares
Contingencies
Number of common shares owed | shares	175,000
Value of common shares owed | $	$ 500,000

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - USD ($)	3 Months Ended
	Feb. 28, 2022	Feb. 28, 2021
IfrsStatementLineItems [Line Items]
Revenue	$ 577,689	$ 8,882
Cost of sales	(538,413)	(136,863)
Segment profit (loss)	(870,720)	$ (1,518,143)
Operating segments [member]
IfrsStatementLineItems [Line Items]
Revenue	8,882
Cost of sales	136,863
Operating expenses	(164,633)
Segment profit (loss)	(292,614)
Corporate expenses:
Operating expenses	(1,675,695)
Other income (expenses)	450,166
Comprehensive loss for the period	(1,518,143)
Capital expenditures
Film [Member] | Operating segments [member]
IfrsStatementLineItems [Line Items]
Revenue	5,199
Cost of sales	24,404
Operating expenses	(145,783)
Segment profit (loss)	(164,988)
Corporate expenses:
Capital expenditures
Video Games [Member] | Operating segments [member]
IfrsStatementLineItems [Line Items]
Revenue	3,683
Cost of sales	112,459
Operating expenses	(18,850)
Segment profit (loss)	(127,626)
Corporate expenses:
Capital expenditures

SEGMENTED INFORMATION (Details

SEGMENTED INFORMATION (Details Narrative)	3 Months Ended
	Feb. 28, 2022Segment
Number of reportable operating segments	2

PROPOSED TRANSACTION (Details N

PROPOSED TRANSACTION (Details Narrative) - Filmocracy [Member] - USD ($)	Feb. 28, 2022	Oct. 25, 2021	Sep. 21, 2021	Sep. 17, 2021
IfrsStatementLineItems [Line Items]
Advanced from related party		$ 190,594	$ 244,292
Interest rate				6.00%
Accrued of interest income	$ 10,453

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Mar. 03, 2022	Feb. 28, 2022	Oct. 04, 2021	Sep. 01, 2021	Aug. 31, 2021
IfrsStatementLineItems [Line Items]
Numbert of shares issued	163,957
Number of vesting shares	163,957
Digital Cinema United Holding [Member]
IfrsStatementLineItems [Line Items]
Issuer Consideration Shares	3,000,000
Advanced from related party			$ 573,964	$ 573,964
Interest rate					6.00%
Accrued of interest income		$ 31,281