Note 14 - Going Concern

9 Months Ended

Aug. 31, 2017

Notes to Financial Statements

Substantial Doubt about Going Concern [Text Block]

14 ) Going Concern

The Company

’s consolidated financial statements are prepared using accounting principles generally accepted in the United States of America and applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. During fiscal

2017,

the Company has incurred operating losses from continuing operations, which has depleted working capital.

Management has successfully implemented several strategies aimed at alleviating the Company

’s working capital shortages for the duration of the decreased economic cycle.  The Company has decreased its administrative expenses in the last several quarters, and has also successfully refinanced nearly all of its bank debt with longer amortizations and reduced required payments.  Also, at this time,

two

of the Company’s real estate holdings are available for sale,

one

classified as discontinued operations assets, and

one

classified as held for lease, which, if sold, would decrease its bank borrowings and fund working capital for a time. Management believes these strategies will enable the Company to continue as a going concern.