Note 2 - Discontinued Operations

12 Months Ended

Nov. 30, 2017

Notes to Financial Statements

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

( 2 ) Discontinued Operations

Effective

October 31, 2016,

the Company discontinued the operations of its

Pressurized 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. The Company’s plan is to dispose of these assets.

As

the Pressurized Vessels segment 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 Consol

idated Statements of Operations is comprised of the following:

	Twelve Months Ended
	November 30, 2017			November 30, 2016
Revenue from external customers	$	-		$	1,598,330
Gross Profit		-			(198,567	)
Asset Impairment		289,198			-
Total Operating Expense		357,709			399,503
Income (loss) from operations		(357,709	)		(598,070	)
Income (loss) before tax		(400,739	)		(617,425	)

The components of discontinued operations in the accompanying consolidated balance sheets are as follows:

	November 30, 2017		November 30, 2016
Cash	$	2,454	$	-
Accounts Receivable - Net		-		9,700
Property, plant, and equipment, net		1,425,000		1,745,528
Assets of discontinued operations	$	1,427,454	$	1,755,228
Accounts payable	$	-	$	1,588
Accrued expenses		49,931		50,061
Notes Payable		599,584		715,945
Liabilities of discontinued operations	$	649,515	$	767,594

In

January 2018,

the Company accepted an offer on the real estate assets for

$1,500,000,

which was below the carrying value at that time. Based on these facts the Company recorded an impairment of the real estate of approximately

$289,000,

which reduced the value to

$1,425,000

which is the value the Company expects to receive after commissions on the sale of this asset.