Note 4 - Contracts in Progress

12 Months Ended

Nov. 30, 2012

Long-term Contracts or Programs Disclosure [Text Block]

(4)            Contracts in Progress

Amounts included in the consolidated financial statements related to uncompleted contracts are as follows:

The amounts billed on these long term contracts are due 30 days from invoice date. All amounts billed are expected to be collected within the next 12 months. Retainage was $173,360 and $84,208 as of November 30, 2012 and 2011, respectively.

	Cost and Profit in Excess of Billings			Billings in Excess of Costs and Profit
November 30, 2012
Costs	$	127,858		$	4,994,950
Estimated earnings		42,200			2,932,023
		170,058			7,926,973
Less: amounts billed		(68,000	)		(9,052,639	)
	$	102,058		$	(1,125,666	)
November 30, 2011
Costs	$	1,275,286		$	271,593
Estimated earnings		604,199			135,785
		1,879,485			407,378
Less: amounts billed		(1,714,755	)		(481,430	)
	$	164,730		$	(74,052	)