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SUBSEQUENT EVENTS
3 Months Ended
Feb. 28, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 11. SUBSEQUENT EVENTS

 

Stock Issued for Conversion of Debenture and Exercise of Warrants

 

As more fully discussed in Note 3 to these consolidated financial statements, MultiCell sold the Debenture to LJCI and issued LJCI a stock warrant in connection with the Debenture. During the period subsequent to March 1, 2013 through the date of issuance of the condensed consolidated financial statements, LJCI converted $1,050 of the Debenture into 76,011,071 shares of the Company’s common stock. Simultaneously with the conversions of the Debenture, LJCI was required to exercise warrants to purchase 105,000 shares of the Company’s common stock at $1.09 per share. The total proceeds from the exercise of the warrants were $114,450.