FAIR VALUE MEASUREMENTS

6 Months Ended

May 31, 2012

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

NOTE 11. FAIR VALUE MEASUREMENTS

For assets and liabilities measured at fair value, the Company uses the following hierarchy of inputs:

• Level one — Quoted market prices in active markets for identical assets or liabilities;

• Level two — Inputs other than level one inputs that are either directly or indirectly observable; and

• Level three — Unobservable inputs developed using estimates and assumptions, which are developed by the Company and reflect those assumptions that a market participant would use.

Liabilities measured at fair value on a recurring basis at May 31, 2012 and November 30, 2011 are summarized as follows:

	May 31, 2012								November 30, 2011
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Derivative liability	$	-	$	117,022	$	-	$	117,022	$	-	$	160,986	$	-	$	160,986

As further described in Note 4, the fair value of the derivative liability is determined using the Black-Scholes pricing model.