Annual report pursuant to Section 13 and 15(d)

Accrued Expenses

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Accrued Expenses
 12 Months Ended
Nov. 30, 2013
Payables And Accruals [Abstract]  
Accrued Expenses

NOTE 5 - ACCRUED EXPENSES.

Accrued expenses are as follows:

 

     November 30,  
     2013      2012  

Professional fees

    $ 58,764       $ 145,724   

Payroll and payroll taxes (1)

      462,541         1,351,077   

Interest expense

      914,114         419,198   

General expenses

      365,392         1,001,759   
  

 

 

     

 

 

  
   $ 1,800,811       $ 2,917,758   
  

 

 

     

 

 

  

 

(1) – Payroll and payroll taxes includes accrued vacation and wages due as of November 30, 2013 and November 30, 2012. Also, included as of November 30, 2012 is approximately $950,000 in severance related to lost salary, bonuses and benefits for Mercedes Walton. See Note 16.