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Financial report summary
?Management Discussion
- We had a loss from operations for the year ended November 30, 2018 of $5,754,945 including professional fees of $5,386,285, and organization and related expenses of $368,660. This is compared to an operating loss of $3,973,404 for the year ended November 30, 2017, which included professional fees of $146,244, share-based compensation of $3,600,000 and organization and related expenses of $227,180. The increase in net loss is due to increases in professional fees, rent and compensation. We project we will continue to have losses from operations until such time as we have sales from operations.
- To provide cash for our operations, the Company has issued convertible promissory notes to several purchasers and has conducted private sales of shares of the Company’s common stock.
- There can be no assurance that our efforts to implement our business plan will be successful or that we will obtain revenues or profitability.