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CONCENTRATION OF CREDIT RISK
12 Months Ended
Nov. 30, 2022
Risks and Uncertainties [Abstract]  
CONCENTRATION OF CREDIT RISK

NOTE 13 – CONCENTRATION OF CREDIT RISK

 

Cash Deposits

 

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. As of November 30, 2022 and 2021, the Company had no deposits in excess of the FDIC insured limit.

 

Revenues

 

Four customers accounted for 99% of total revenue for the fiscal year ended November 30, 2022, as set forth below:

 

Customer A   40%
Customer B   28%
Customer C   19%
Customer D   12%

 

Four customers accounted for 99% of total revenue for the year ended November 30, 2021, as set forth below:

 

Customer A   46%
Customer B   24%
Customer C   17%
Customer D   11%

 

 

Accounts Receivable

 

The Company did not have any accounts receivable as of November 30, 2022.

 

One customer accounted for 100% of the accounts receivable as of November 30, 2021.

 

Vendors

 

One supplier accounted for 100% of purchases as of November 30, 2022, as set forth below:

 

Vendor A, a related party   100%

 

Two suppliers accounted for 88% of purchases as of November 30, 2021, as set forth below:

 

Vendor A, a related party   75%
Vendor B   13%