Note 3 - Discontinued Operations

6 Months Ended

May 31, 2017

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

)

Discontinued Operations

Effective

October 31, 2016,

the Company discontinued the operations of its Vessels segment in order to focus its efforts and resources on the business segments that have historically been more successful and that are expected to present greater opportunities for meaningful long-term shareholder returns. Our plan is to dispose of these assets over the next several quarters. At this time, we are working to dispose of the remaining assets, primarily the real estate.

As Vessels was a unique business unit of the Company, its liquidation was a strategic shift. In accordance with Accounting Standard Code Topic

360,

the Company has classified Vessels as discontinued operations for all periods presented.

Income from discontinued operations, before income taxes in the accompanying Condensed Consolidated Statements of Operations is comprised of the following:

	Three Months Ended
	May 31, 2017			May 31, 2016
Revenue from external customers	$	-		$	443,119
Gross Profit		(23,527	)		15,976
Operating Expense		219			112,586
Income (loss) from operations		(23,746	)		(96,610	)
Income (loss) before tax		(27,665	)		(104,994	)

	Six Months Ended
	May 31, 2017			May 31, 2016
Revenue from external customers	$	-		$	1,122,435
Gross Profit		(23,572	)		90,393
Operating Expense		252			258,746
Income (loss) from operations		(23,824	)		(168,353	)
Income (loss) before tax		(22,789	)		(180,119	)

The components of discontinued operations in the accompanying Condensed Consolidated Balance Sheets are as follows:

	May 31, 2017		November 30, 2016
Accounts Receivable - Net	$	7,500	$	9,700
Property, plant, and equipment, net		1,716,397		1,745,528
Assets of discontinued operations	$	1,723,897	$	1,755,228

Accounts payable	$	364	$	1,588
Accrued expenses		51,095		50,061
Notes Payable		650,911		715,945
Liabilities of discontinued operations	$	702,370	$	767,594