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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BioPower Operations Corporation (CE) | USOTC:BOPO | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0002 | 0.00 | 01:00:00 |
þ
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Nevada
|
|
27-4460232
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(State or other jurisdiction of
|
|
(IRS Employer
|
incorporation or organization)
|
|
Identification No.)
|
Large accelerated filer
|
¨
|
|
Non-accelerated filer
|
¨
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|
|
|
|
|
Accelerated Filer
|
¨
|
|
Smaller reporting company
|
þ
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Page
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PART I
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Item 1.
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Business
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4
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Item 1A.
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Risk Factors
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9
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Item 1B.
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Unresolved Staff Comments
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16
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Item 2.
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Description of Property
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16
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Item 3.
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Legal Proceedings
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17
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Item 4.
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Mine Safety Disclosure
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17
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PART II
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Item 5.
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Market for Common Equity and Related Stockholder Matters
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17
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Item 6.
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Selected Financial Data
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20
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Item 7.
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Management's Discussion and Analysis of Financial Condition and Results of Operations
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20
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Item 7A.
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Quantitative and Qualitative Disclosures About Market Risk
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29
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Item 8.
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Financial Statements and Supplementary Data
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29
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Item 9.
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Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
|
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30
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Item 9A
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Controls and Procedures
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30
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Item 9B.
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Other Information
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31
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PART III
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Item 10.
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Directors and Executive Officers
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32
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Item 11.
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Executive Compensation
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34
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Item 12.
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Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
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35
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Item 13.
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Certain Relationships and Related Transactions, and Director Independence
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36
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Item 14.
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Principal Accountant Fees and Services
|
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38
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PART IV
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Item 15.
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Exhibits
|
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39
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Signatures
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44
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Financial Statements
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F-1
|
2 | ||
|
3 | ||
|
4 | ||
|
5 | ||
|
6 | ||
|
7 | ||
|
8 | ||
|
9 | ||
|
10 | ||
|
11 | ||
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12 | ||
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13 | ||
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-
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election of our board of directors;
|
|
|
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-
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removal of any of our directors;
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|
|
|
|
-
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amendment of our Articles of Incorporation or By-laws; and
|
|
|
|
|
-
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adoption of measures that could delay or prevent a change in control or impede a merger, takeover or other business combination involving us.
|
14 | ||
|
15 | ||
|
16 | ||
|
17 | ||
|
Fiscal Year 2013
|
|
|
High ($)
|
|
|
Low ($)
|
|
Fourth Quarter (1)
|
|
|
0.23
|
|
|
0.04
|
|
Third Quarter
|
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|
0.30
|
|
|
0.05
|
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Second Quarter
|
|
|
0.65
|
|
|
0.05
|
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First Quarter
|
|
|
1.25
|
|
|
0.35
|
|
Fiscal Year 2012
|
|
|
High ($)
|
|
|
Low ($)
|
|
Fourth Quarter
|
|
|
0.75
|
|
|
0.30
|
|
Third Quarter
|
|
|
2.45
|
|
|
0.70
|
|
Second Quarter
|
|
|
3.75
|
|
|
1.10
|
|
First Quarter
|
|
|
3.75
|
|
|
2.75
|
|
(1) | BOPO commenced trading an effective 1 for 5 reverse on September 7, 2013. |
18 | ||
|
19 | ||
|
20 | ||
|
21 | ||
|
22 | ||
|
23 | ||
|
Business development costs
|
|
$
|
300,000
|
|
Research & development costs including patents
|
|
|
150,000
|
|
Management and Consulting
|
|
|
300,000
|
|
General and Administrative
|
|
|
250,000
|
|
Total
|
|
$
|
1,000,000
|
|
· | any failure to develop our projects and our inability to sufficiently meet our customers' demands for our products; |
· | any inability to effectively manage rapid growth; |
· | risks associated with future joint ventures, strategic alliances or acquisitions; |
· | economic, political, regulatory, legal and foreign risks associated with alternative energy; and, |
· | any loss of key members of our management. |
24 | ||
|
2013
|
|
BioPower Operations
Corp |
|
BioPower Corporation
|
|
FTZ Exchange, LLC
|
|
Total
|
|
||||
Operating expenses (1)
|
|
$
|
(1,158,743)
|
|
$
|
(137,303)
|
|
$
|
-
|
|
$
|
(1,296,046)
|
|
Depreciation and amortization
|
|
$
|
5,552
|
|
$
|
-
|
|
$
|
-
|
|
$
|
5,552
|
|
Other income (expense) (2)
|
|
$
|
(262,087)
|
|
$
|
220,957
|
|
$
|
-
|
|
$
|
(41,130)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) (1)
|
|
$
|
(1,426,382)
|
|
$
|
83,654
|
|
|
|
|
$
|
(1,342,728)
|
|
2012
|
|
BioPower Operations
Corp |
|
BioPower Corporation
|
|
FTZ Exchange, LLC
|
|
Total
|
|
||||
Operating expenses (1)
|
|
$
|
(912,773)
|
|
$
|
(57,766)
|
|
$
|
(3,779)
|
|
$
|
(974,318)
|
|
Depreciation and amortization
|
|
$
|
(10,552)
|
|
$
|
-
|
|
$
|
-
|
|
$
|
(10,552)
|
|
Consulting Revenue
|
|
$
|
63,571
|
|
$
|
-
|
|
$
|
-
|
|
$
|
63,571
|
|
Other income (expense)
|
|
$
|
(352,638)
|
|
$
|
(511)
|
|
$
|
-
|
|
$
|
(353,149)
|
|
Net income (loss) (1)
|
|
$
|
(1,212,392)
|
|
$
|
(58,277)
|
|
$
|
(3,779)
|
|
$
|
(1,274,448)
|
|
(1) | Includes $400.00 for Global Energy Crops Corporation and Green Oils Plantations of America filing fees of $150.00 each and FTZ Energy Corporation $100.00 in filing fees. |
(2) | Includes Consulting Income of $248,448. |
For Years Ended November 30,
|
|
|||||||||||
|
|
2013
|
|
2012
|
|
$ Change
|
|
% Change
|
|
|||
Stock based compensation
|
|
$
|
305,373
|
|
$
|
-
|
|
$
|
305,373
|
|
100
|
%
|
Wage and wage related costs
|
|
|
621,674
|
|
|
551,243
|
|
|
70,431
|
|
13
|
%
|
Professional fees
|
|
|
170,348
|
|
|
232,530
|
|
|
(62,182)
|
|
-27
|
%
|
Insurance costs
|
|
|
3,772
|
|
|
45,853
|
|
|
(42,081)
|
|
-92
|
%
|
Rent - building and equipment
|
|
|
46,589
|
|
|
44,058
|
|
|
2,531
|
|
6
|
%
|
Travel and related
|
|
|
81,582
|
|
|
61,000
|
|
|
20,582
|
|
34
|
%
|
Miscellaneous expenses
|
|
|
66,708
|
|
|
39,634
|
|
|
27,074
|
|
68
|
%
|
Depreciation and amortization
|
|
|
5,552
|
|
|
10,552
|
|
|
(5,000)
|
|
-47
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Exp. & Depreciation
|
|
$
|
1,301,598
|
|
|
984,870
|
|
$
|
316,728
|
|
32
|
%
|
25 | ||
|
26 | ||
|
27 | ||
|
28 | ||
|
Item 7A.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
29 | ||
|
30 | ||
|
· | We have retained a new accounting firm with the appropriate level of knowledge, skills and experience in financial accounting and reporting to help us put a formal review process in place for the financial reporting process. |
· | We have examined significant accounts and will improve related account reconciliations; and |
· | We have changed our monitoring practices concerning the review of significant accounts and transactions and related financial results and reporting. |
31 | ||
|
Name
|
|
Age
|
|
Position
|
|
|
|
|
|
Robert D. Kohn
|
|
63
|
|
Chairman of the Board, Chief Executive Officer
and Chief Financial Officer
|
|
|
|
|
|
Bonnie Nelson
|
|
62
|
|
Director and Director of Business Strategy
|
|
|
|
|
|
|
|
|
|
|
Michael Dinkes Esq. C.P.A.
|
|
73
|
|
Director and Chairman of the Audit Committee
|
|
|
|
|
|
|
|
|
|
|
32 | ||
|
33 | ||
|
Name and Position(s)
|
|
Year
|
|
Salary($)
|
|
Total
Compensation |
|
||
|
|
|
|
|
|
|
|
|
|
Robert D. Kohn (1)
|
|
2013
|
|
$
|
200,000
|
|
$
|
200,000
|
|
CEO and Director
|
|
2012
|
|
$
|
200,000
|
|
$
|
200,000
|
|
|
|
|
|
|
|
|
|
|
|
Bonnie Nelson (2)
|
|
2013
|
|
$
|
173,333
|
|
$
|
173,333
|
|
Director and Director of Business Strategy
|
|
2012
|
|
$
|
125,000
|
|
$
|
125,000
|
|
|
|
|
|
|
|
|
|
|
|
Dale S. Shepherd (3)
|
|
2013
|
|
$
|
0
|
|
$
|
0
|
|
President and COO
|
|
2012
|
|
$
|
0
|
|
$
|
0
|
|
(1)
|
Mr. Kohn was appointed as our Chief Executive Officer, Chief Financial Officer, Secretary and Director on January 5, 2011.
|
|
|
(2)
|
Ms. Nelson was appointed as our Director and Director of Business Strategy on January 5, 2011.
|
|
|
(3)
|
Mr. Shepherd was appointed as our President and Chief Operating Officer effective February 1, 2011 and resigned on August 9, 2012.
|
34 | ||
|
¨
|
each stockholder, or group of affiliated stockholders, who owns more than 5% of our outstanding capital stock;
|
¨
|
each of our named executive officers;
|
¨
|
each of our directors; and
|
¨
|
all of our directors and executive officers as a group.
|
Name
|
|
Office
|
Shares
Beneficially Owned (1) |
|
|
Percent of Class (2)
|
|
||
|
|
|
|
|
|
|
|
|
|
Officers and Directors
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Robert D. Kohn
|
|
Director and CEO, CFO
|
|
|
7,297,400
|
|
|
24.10
|
%
|
|
|
|
|
|
|
|
|
|
|
Michael Dinkes, C.P.A. Esq.
|
|
Director
|
|
|
210,000
|
|
|
.66
|
%
|
|
|
|
|
|
|
|
|
|
|
Bonnie Nelson
|
|
Director and Director of Business Development & Strategy
|
|
|
5,805,000
|
|
|
19.17
|
%
|
|
|
|
|
|
|
|
|
|
|
All officers and directors as a group (3 persons named above)
|
|
|
|
|
13,312,400
|
|
|
43.96
|
%
|
35 | ||
|
|
|
|
|
Amount and Nature of Beneficial
|
|
||
Title of Class
|
|
Name and Address of Beneficial Owner*
|
|
Ownership
|
|
Percent of Class (1)
|
|
|
|
|
|
|
|
|
|
Common
|
|
Robert Kohn
|
|
7,297,400 Direct
|
|
24.10
|
%
|
|
|
|
|
|
|
|
|
Series A Preferred Stock
|
|
China Energy Partners, LLC (2)
|
|
1 Indirect
|
|
100
|
%
|
|
|
|
|
|
|
|
|
Common
|
|
Riskless Partners, LLC (3)
|
|
5,805,000 Direct
|
|
19.17
|
%
|
|
|
|
|
|
|
|
|
Series A Preferred Stock
|
|
China Energy Partners, LLC (2)
|
|
1 Indirect
|
|
100
|
%
|
36 | ||
|
37 | ||
|
|
|
2013
|
|
2012
|
|
||
|
|
|
|
|
|
|
|
Audit Fees
|
|
$
|
19,000
|
|
$
|
24,564
|
|
Audit Related Fees
|
|
|
|
|
|
1,500
|
|
Tax Fees
|
|
|
-
|
|
|
-
|
|
All Other Fees
|
|
|
|
|
|
16,936
|
|
38 | ||
|
Number
|
|
Description
|
|
|
|
|
|
|
|
3.1
|
|
Articles of Incorporation
|
|
Previously filed(1)
|
|
|
|
|
|
3.1(a)
|
|
Amendment to Articles of Incorporation
|
|
Previously filed(1)
|
|
|
|
|
|
3.1(b)
|
|
Certificate of Designation of the Rights, Preferences and Privileges
|
|
|
|
|
Of Series A Preferred Stock of BioPower Operations Corporation
|
|
Previously filed(1)
|
|
|
|
|
|
3.2
|
|
Bylaws
|
|
Previously filed(1)
|
|
|
|
|
|
4.1
|
|
Specimen of Stock Certificate
|
|
Previously filed(1)
|
|
|
|
|
|
5.1
|
|
Legal Opinion & Consent of Attorney
|
|
Previously filed
|
|
|
|
|
|
10.1
|
|
Employment Agreement between Robert Kohn and the Company dated January 5, 2011.
|
|
Previously filed(1)
|
|
|
|
|
|
10.2
|
|
Employment Agreement between Bonnie Nelson and the Company dated January 5, 2011.
|
|
Previously filed(1)
|
|
|
|
|
|
10.3
|
|
Employment Agreement between Dale Shepherd and the Company dated January 5, 2011.
|
|
Previously filed(1)
|
|
|
|
|
|
10.4
|
|
Lock-Up Agreement between the Company and the Ford Irrevocable Trust, dated January 18, 2011
|
|
Previously filed(2)
|
39 | ||
|
10.5
|
|
Lock-Up Agreement between the Company and the Fox Irrevocable Trust, dated January 18, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.6
|
|
Exclusive License Agreement between Clenergen Corporation and BioPower Corporation, dated November 30, 2010
|
|
Previously filed(5)
|
|
|
|
|
|
10.7
|
|
Form of Subscription Agreement for Offering
|
|
Previously filed(2)
|
|
|
|
|
|
10.8
|
|
Exclusive Fully Paid Up License Agreement between Green Oil Plantations LTD.
|
|
Previously filed (4)
|
|
|
and BioPower Operations Corporation
|
|
|
|
|
|
|
|
10.9
|
|
Warrant to Purchase 1,000,000 shares of Common Stock of BioPower Operations Corporation, dated January 11, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.10
|
|
Lock-Up Agreement between the Company and Robert Kohn, dated January 18, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.11
|
|
Lock-Up Agreement between the Company and Janet Kohn, dated January 18, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.12
|
|
Lock-Up Agreement between the Company and Noslen, LLC, dated January 31, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.13
|
|
Lock-Up Agreement between the Company and LB Persistence, LLC, dated January 31, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.14
|
|
Lock-Up Agreement between the Company and the David B. Cohen 2011 Irrevocable Trust, dated January 31, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.15
|
|
Lock-Up Agreement between the Company and the Cohen Family 2011 Irrevocable Trust, dated January 31, 2011
|
|
Previously filed(2)
|
40 | ||
|
10.16
|
|
Lock-Up Agreement between the Company and E10ST LLC, dated January 31, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.17
|
|
Lock-Up Agreement between the Company and the Jessica Leopold Irrevocable Trust, dated January 31, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.18
|
|
Lock-Up Agreement between the Company and Green Oil Plantations, Ltd, dated March 9, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.19
|
|
Lock-Up Agreement between the Company and Dale Shepherd, dated January 23, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.20
|
|
Lock-Up Agreement between the Company and Riskless Partners, LLC, dated January 18, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.21
|
|
Lock-Up Agreement between the Company and TipTop Irrevocable Trust, dated January 19, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.22
|
|
Amended Exclusive License Agreement between Clenergen Corporation and BioPower Corporation, dated March 9, 2011
|
|
Previously filed(2)
|
|
|
|
|
|
10.23
|
|
Demand Note, dated November 30, 2010, issued to Mr. Robert Kohn
|
|
Previously filed (4)
|
|
|
|
|
|
10.24
|
|
Demand Note, dated November 30, 2010, issued to Ms. Bonnie Nelson
|
|
Previously filed (4)
|
|
|
|
|
|
10.25
|
|
Sublease, dated March 18, 2011 between the Company and Carlson Wagonlit Travel, Inc.
|
|
Previously filed (5)
|
|
|
|
|
|
10.26
|
|
Amended Exclusive License Agreement between Clenergen Corporation and BioPower Corporation, dated March 9, 2011
|
|
Previously filed (4)
|
41 | ||
|
10.27
|
|
Letter Agreement by and between the Company and Halcyon Cabot Ltd. dated January 5, 2012
|
|
Previously filed
|
|
|
|
|
|
10.28
|
|
Quture Advisory Agreement dated February 13, 2012 (7)
|
|
|
|
|
|
|
|
10.29
|
|
Dale Shepherd, President of BioPower, Loan Agreement dated February 22, 2012
|
|
Previously filed
|
|
|
|
|
|
21.1
|
|
List of Subsidiaries
|
|
Previously filed(2)
|
|
|
|
|
|
23.1
|
|
Consent of Independent Registered Public Accounting Firm |
|
Previously Filed (6) |
|
|
|
|
|
23.2
|
|
Consent of Gersten Savage LLP (included in Exhibit 5.1)
|
|
Previously
Filed (6) |
42 | ||
|
31.1
|
|
Certifications of Robert Kohn pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
32.1
|
|
Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
101
|
|
Interactive data files pursuant to Rule 405 of Regulation S-T
|
|
|
(1)
|
Incorporated by reference to our Registration Statement on Form S-1 (Reg. No. 333-172139) filed with the SEC on February 09, 2011.
|
(2)
|
Filed as an Exhibit to the Company’s Registration Statement on Form S-1, dated March 16, 2011.
|
|
|
(3)
|
Filed as an Exhibit to the Company’s Registration Statement on Form S-1, dated April 8, 2011.
|
|
|
(4)
|
Filed as an Exhibit to the Company’s Registration Statement on Form S-1, dated April 29, 2011.
|
|
|
(5)
|
Filed as an Exhibit to the Company’s Registration Statement on Form S-1, dated May 18, 2011.
|
|
|
(6)
|
Filed as an Exhibit to the Company’s Registration Statement on Form S-1, dated July 21, 2011.
|
|
|
(7)
|
Incorporated by reference to our Current Report on Form 8-K filed with the SEC on February 17, 2012.
|
43 | ||
|
|
BIOPOWER OPERATIONS CORPORATION.
|
|
|
|
|
Date: March 17, 2014
|
By:
|
/s/ Robert Kohn
|
|
|
Robert Kohn
|
|
|
Chief Executive Officer, Chief Financial Officer, Director
(principal executive officer and principal financial officer)
|
44 | ||
|
F-1 | ||
|
|
|
Page(s)
|
|
|
|
Reports of Independent Registered Public Accounting Firms
|
|
|
|
|
|
Balance Sheets As of November 30, 2013 (Consolidated)
and November 30, 2012
|
|
F-4
|
|
|
|
Statements of Operations
Year Ended November 30, 2013 (Consolidated), from September 13, 2010 (Inception)
to November 30, 2012, and from September 13, 2010 (Inception) to November 30, 2012 (Consolidated)
|
|
F-5
|
|
|
|
Statement of Stockholders’ Deficit
From September 13, 2010 (Inception) to November 30, 2013
|
|
F-6
|
|
|
|
Statements of Cash Flows
Year Ended November 30, 2013 (Consolidated), from September 13, 2010 (Inception)
to November 30, 2012, and from September 13, 2010 (Inception) to November 30, 2012
(Consolidated)
|
|
F-7
|
|
|
|
Notes to Consolidated Financial Statements
|
|
F-8 - F-21
|
F-2 | ||
|
F-3 | ||
|
F-4 | ||
|
|
|
November 30, 2013
|
|
November 30, 2012
|
|
||
|
|
|
|
|
|
|
|
Assets
|
|
||||||
Current Assets
|
|
|
|
|
|
|
|
Cash
|
|
$
|
109,172
|
|
$
|
16,956
|
|
Accounts receivable
|
|
|
27,840
|
|
|
-
|
|
Available-for-sale securities
|
|
|
-
|
|
|
38,250
|
|
Prepaid expenses
|
|
|
11,258
|
|
|
682
|
|
Total Current Assets
|
|
|
148,270
|
|
|
55,888
|
|
|
|
|
|
|
|
|
|
Equipment - net
|
|
|
28,821
|
|
|
18,761
|
|
Security deposit
|
|
|
11,193
|
|
|
11,660
|
|
|
|
|
40,014
|
|
|
30,421
|
|
|
|
|
|
|
|
|
|
Total Assets
|
|
$
|
188,284
|
|
$
|
86,309
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Deficit
|
|
||||||
|
|
|
|
|
|
|
|
Current Liabilities
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses
|
|
$
|
513,134
|
|
$
|
413,586
|
|
Accounts payable and accrued expenses - related parties
|
|
|
1,098,786
|
|
|
755,365
|
|
Deferred revenue
|
|
|
-
|
|
|
31,429
|
|
Common stock payable
|
|
|
-
|
|
|
208,500
|
|
Notes payable
|
|
|
88,000
|
|
|
89,800
|
|
Notes payable - related parties
|
|
|
175
|
|
|
40,675
|
|
Convertible debt
|
|
|
125,000
|
|
|
-
|
|
Total Current Liabilities
|
|
|
1,825,095
|
|
|
1,539,355
|
|
|
|
|
|
|
|
|
|
Long-Term Liabilities
|
|
|
|
|
|
|
|
Deferred revenue
|
|
|
-
|
|
|
25,000
|
|
Total Long-Term Liabilities
|
|
|
-
|
|
|
25,000
|
|
|
|
|
|
|
|
|
|
Total Liabilities
|
|
|
1,825,095
|
|
|
1,564,355
|
|
|
|
|
|
|
|
|
|
Stockholders' Deficit
|
|
|
|
|
|
|
|
Preferred stock, $1 par value; 10,000 shares authorized; 1 share issued and outstanding
|
|
|
1
|
|
|
1
|
|
Common stock, $0.0001 par value, 100,000,000 shares authorized; 30, 281,180 and 18,056,000 shares issued and outstanding
|
|
|
3,028
|
|
|
1,806
|
|
Additional paid-in capital
|
|
|
1,947,325
|
|
|
802,384
|
|
Deficit accumulated during the development stage
|
|
|
(3,587,165)
|
|
|
(2,244,437)
|
|
Other comprehensive loss
|
|
|
-
|
|
|
(37,800)
|
|
Total Stockholders' Deficit
|
|
|
(1,636,811)
|
|
|
(1,478,046)
|
|
|
|
|
|
|
|
|
|
Total Liabilities and Stockholders' Deficit
|
|
$
|
188,284
|
|
$
|
86,309
|
|
F-5 | ||
|
|
|
|
|
|
|
|
|
September 13, 2010
|
|
|
|
|
Year Ended November 30,
|
|
(Inception) to
|
|
|||||
|
|
2013
|
|
2012
|
|
November 30, 2013
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
General and administrative expenses
|
|
$
|
650,283
|
|
$
|
421,155
|
|
$
|
1,494,371
|
|
General and administrative expenses related parties
|
|
|
651,315
|
|
|
563,715
|
|
|
1,758,036
|
|
Total General and administrative expenses
|
|
|
1,301,598
|
|
|
984,870
|
|
|
3,252,407
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense)
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
(32,086)
|
|
|
(51,665)
|
|
|
(83,751)
|
|
Interest expense - related party
|
|
|
(807)
|
|
|
(69,299)
|
|
|
(74,156)
|
|
Loss on settlement of debt and accrued expenses
|
|
|
(190,921)
|
|
|
-
|
|
|
(190,921)
|
|
Loss on impairment of available-for-sale securities
|
|
|
(76,050)
|
|
|
-
|
|
|
(76,050)
|
|
Loss on sale of available-for-sale marketable securities
|
|
|
-
|
|
|
(118,640)
|
|
|
(118,640)
|
|
Loan cost
|
|
|
-
|
|
|
(6,250)
|
|
|
(6,250)
|
|
Loss on impairment of license
|
|
|
-
|
|
|
(240,795)
|
|
|
(240,795)
|
|
Gain on settlement of consulting revenue receivable
|
|
|
-
|
|
|
133,500
|
|
|
133,500
|
|
Consulting revenue, net of expense
|
|
|
258,734
|
|
|
63,571
|
|
|
322,305
|
|
Total other income (expense) - net
|
|
|
(41,130)
|
|
|
(289,578)
|
|
|
(334,758)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(1,342,728)
|
|
$
|
(1,274,448)
|
|
$
|
(3,587,165)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per common share - basic and diluted
|
|
$
|
(0.06)
|
|
$
|
(0.01)
|
|
|
n/a
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding
during the period - basic and diluted |
|
|
23,531,311
|
|
|
18,056,000
|
|
|
n/a
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(1,342,728)
|
|
$
|
(1,274,448)
|
|
$
|
(3,587,165)
|
|
Unrealized loss on available-for-sale marketable securities
|
|
|
-
|
|
|
(37,800)
|
|
|
(37,800)
|
|
Reclassification adjustment due to impairment on available-for-sale securities
|
|
|
37,800
|
|
|
-
|
|
|
37,800
|
|
Comprehensive loss
|
|
$
|
(1,304,928)
|
|
$
|
(1,312,248)
|
|
$
|
(3,587,165)
|
|
F-6 | ||
|
F-7 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deficit
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated
|
|
Accumulated
|
|
|
|
|||||
|
|
Preferred Stock,
|
|
Common Stock,
|
|
Additional
|
|
during
|
|
Other
|
|
Total
|
|
||||||||||||
|
|
$1 Par Value
|
|
$0.0001 Par Value
|
|
Paid In
|
|
Development
|
|
Comprehensive
|
|
Stockholders'
|
|
||||||||||||
|
|
Shares
|
|
Amount
|
|
Shares
|
|
Amount
|
|
Capital
|
|
Stage
|
|
Loss
|
|
Deficit
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of common stock - founders ($0.0005)
|
|
|
-
|
|
$
|
-
|
|
|
2,000
|
|
$
|
0
|
|
$
|
1
|
|
$
|
-
|
|
$
|
-
|
|
$
|
1
|
|
Net loss - September 13, 2010 (Inception) to November 30, 2010
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(1,334)
|
|
|
-
|
|
|
(1,334)
|
|
Balance - November 30, 2010
|
|
|
-
|
|
|
-
|
|
|
2,000
|
|
|
0
|
|
|
1
|
|
|
(1,334)
|
|
|
-
|
|
|
(1,333)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cancellation of common stock - founders
|
|
|
-
|
|
|
-
|
|
|
(2,000)
|
|
$
|
(0)
|
|
|
(1)
|
|
|
-
|
|
|
-
|
|
|
(1)
|
|
Issuance of preferred stock - founders ($1/share)
|
|
|
1
|
|
|
1
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
1
|
|
Issuance of common stock - founders ($0.0005/share)
|
|
|
-
|
|
|
-
|
|
|
6,500,000
|
|
|
650
|
|
|
2,600
|
|
|
-
|
|
|
-
|
|
|
3,250
|
|
Issuance of common stock - related parties ($0.0005/share)
|
|
|
-
|
|
|
-
|
|
|
2,460,000
|
|
|
246
|
|
|
984
|
|
|
-
|
|
|
-
|
|
|
1,230
|
|
Issuance of common stock ($0.0005/share)
|
|
|
-
|
|
|
-
|
|
|
7,820,000
|
|
|
782
|
|
|
3,128
|
|
|
-
|
|
|
-
|
|
|
3,910
|
|
Issuance of common stock ($1.25/share)
|
|
|
-
|
|
|
-
|
|
|
240,000
|
|
|
24
|
|
|
299,976
|
|
|
-
|
|
|
-
|
|
|
300,000
|
|
Issuance of common stock ($2.50/share)
|
|
|
-
|
|
|
-
|
|
|
6,000
|
|
|
1
|
|
|
14,999
|
|
|
-
|
|
|
-
|
|
|
15,000
|
|
Issuance of common stock for services rendered ($0.06/share)
|
|
|
-
|
|
|
-
|
|
|
830,000
|
|
|
83
|
|
|
49,917
|
|
|
-
|
|
|
-
|
|
|
50,000
|
|
Issuance of common stock for license ($1.25/share)
|
|
|
-
|
|
|
-
|
|
|
200,000
|
|
|
20
|
|
|
249,980
|
|
|
-
|
|
|
-
|
|
|
250,000
|
|
Warrants issued for services rendered
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
60,800
|
|
|
-
|
|
|
-
|
|
|
60,800
|
|
Debt discount - related party
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
30,000
|
|
|
-
|
|
|
-
|
|
|
30,000
|
|
Net loss
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(968,655)
|
|
|
-
|
|
|
(968,655)
|
|
Balance - November 30, 2011
|
|
|
1
|
|
|
1
|
|
|
18,056,000
|
|
|
1,806
|
|
|
712,384
|
|
|
(969,989)
|
|
|
-
|
|
|
(255,798)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt discount
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
50,000
|
|
|
-
|
|
|
-
|
|
|
50,000
|
|
Debt discount - related party
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
40,000
|
|
|
-
|
|
|
-
|
|
|
40,000
|
|
Unrealized loss on available-for-sale marketable securities
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(37,800)
|
|
|
(37,800)
|
|
Net loss
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(1,274,448)
|
|
|
-
|
|
|
(1,274,448)
|
|
Balance - November 30, 2012
|
|
|
1
|
|
|
1
|
|
|
18,056,000
|
|
|
1,806
|
|
|
802,384
|
|
|
(2,244,437)
|
|
|
(37,800)
|
|
|
(1,478,046)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt discount
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
25,000
|
|
|
-
|
|
|
-
|
|
|
25,000
|
|
Reclassification adjustment due to impairment on available-for-sale securities
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
37,800
|
|
|
37,800
|
|
Issuance of common stock for cash
|
|
|
-
|
|
|
-
|
|
|
215,000
|
|
|
21
|
|
|
12,879
|
|
|
-
|
|
|
-
|
|
|
12,900
|
|
Issuance of common stock to directors
|
|
|
-
|
|
|
-
|
|
|
4,000,000
|
|
|
400
|
|
|
149,600
|
|
|
|
|
|
|
|
|
150,000
|
|
Issuance of common stock to consultant
|
|
|
-
|
|
|
-
|
|
|
1,500,000
|
|
|
150
|
|
|
143,600
|
|
|
|
|
|
|
|
|
143,750
|
|
Issuance of common stock for conversion of debt
|
|
|
-
|
|
|
-
|
|
|
3,624,967
|
|
|
362
|
|
|
425,185
|
|
|
|
|
|
|
|
|
425,547
|
|
Issuance of common stock for conversion of related party debt
|
|
|
-
|
|
|
-
|
|
|
2,802,400
|
|
|
280
|
|
|
246,216
|
|
|
|
|
|
|
|
|
246,496
|
|
Issuance of common stock for services
|
|
|
-
|
|
|
-
|
|
|
82,813
|
|
|
8
|
|
|
142,462
|
|
|
|
|
|
|
|
|
142,470
|
|
Net loss
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(1,342,728)
|
|
|
-
|
|
|
(1,342,728)
|
|
|
|
|
1
|
|
|
1
|
|
|
30,281,180
|
|
|
3,028
|
|
|
1,947,325
|
|
|
(3,587,165)
|
|
|
-
|
|
|
(1,636,811)
|
|
F-8 | ||
|
|
·
|
estimated fair value of share based payments,
|
|
·
|
estimated carrying value, useful lives and related impairment of equipment and intangible assets; and
|
|
·
|
estimated valuation allowance for deferred tax assets, due to continuing and expected future losses
|
F-9 | ||
|
|
|
Amount
|
|
Shares
|
|
||
AFS Acquired February 2012
|
|
$
|
253,500
|
|
|
15,000,000
|
|
Sales in 2012 at cost
|
|
|
(169,000)
|
|
|
(10,000,000)
|
|
Collection fee
|
|
|
(8,450)
|
|
|
(500,000)
|
|
Balance November 30, 2012
|
|
$
|
76,050
|
|
|
4,500,000
|
|
Balance November 30, 2013
|
|
$
|
-
|
|
|
4,500,000
|
|
|
|
2013
|
|
2012
|
|
||
Common stock public company, cost
|
|
$
|
76,050
|
|
$
|
76,050
|
|
Unrealized loss on available for sale marketable securities
|
|
|
(37,800)
|
|
|
(37,800)
|
|
Reclassification adjustment due to impairment
|
|
|
37,800
|
|
|
|
|
Impairment
|
|
|
(76,050)
|
|
|
|
|
Fair value
|
|
$
|
-0-
|
|
$
|
38,250
|
|
|
|
2013
|
|
2012
|
|
||
|
|
|
|
|
|
|
|
Gross realized losses from sale of available for sale securities
|
|
$
|
-
|
|
$
|
(118,640)
|
|
Net unrealized holding gain (loss)
|
|
|
-
|
|
|
(37,800)
|
|
Net investment income (loss)
|
|
$
|
-
|
|
$
|
(156,440)
|
|
F-10 | ||
|
F-11 | ||
|
•
|
The risk-free interest rate assumption is based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant.
|
•
|
The Company has not paid any dividends on common stock since inception and does not anticipate paying dividends on its common stock in the near future.
|
•
|
The expected option term is computed using the “simplified” method as permitted under the provisions of Staff Accounting Bulletin (“SAB”) 110.
|
•
|
The expected volatility is based on the historical volatility of the Company’s common stock, based on the daily quoted closing trading prices.
|
•
|
The forfeiture rate is based on the historical forfeiture rate for unvested stock options.
|
|
|
November 30,
|
|
|
November 30,
|
|
||
|
|
2013
|
|
|
2012
|
|
||
|
|
|
|
|
|
|
|
|
Warrants (1)
|
|
|
-
|
|
|
|
-
|
|
Convertible debt (2)
|
|
|
625,000
|
|
|
|
-
|
|
Total common stock equivalents
|
|
|
625,000
|
|
|
|
-
|
|
F-12 | ||
|
|
|
2013
|
|
2012
|
|
Estimated Useful Life
|
|
||
Computer Equipment
|
|
$
|
27,760
|
|
$
|
27,760
|
|
5 years
|
|
Testing Equipment
|
|
|
15,612
|
|
|
-
|
|
3 years
|
|
Less: Accumulated depreciation
|
|
|
(14,551)
|
|
|
(8,999)
|
|
|
|
Equipment, net
|
|
$
|
28,821
|
|
$
|
18,761
|
|
|
|
F-13 | ||
|
|
|
2013
|
|
2012
|
|
||
Gross deferred tax assets:
|
|
|
|
|
|
|
|
Net operating loss carryforwards
|
|
$
|
431,000
|
|
$
|
229,000
|
|
Accrued and deferred expenses
|
|
|
490,000
|
|
|
340,000
|
|
Total deferred tax assets
|
|
|
921,000
|
|
|
569,000
|
|
Less: valuation allowance
|
|
|
(921,000)
|
|
|
(569,000)
|
|
Net deferred tax asset recorded
|
|
$
|
-
|
|
$
|
-
|
|
|
|
2013
|
|
2012
|
|
||
Expected tax expense (benefit) - Federal
|
|
$
|
(422,000)
|
|
$
|
(410,000)
|
|
Expected tax expense (benefit) - State
|
|
|
(72,000)
|
|
|
(70,000)
|
|
Meals and entertainment at 50%
|
|
|
3,000
|
|
|
4,000
|
|
Impaired loss on license agreement
|
|
|
29,000
|
|
|
91,000
|
|
Stock/stock options/warrants issued for services
|
|
|
110,000
|
|
|
41,000
|
|
Change in valuation allowance
|
|
|
352,000
|
|
|
344,000
|
|
Actual tax expense (benefit)
|
|
$
|
-
|
|
$
|
-
|
|
F-14 | ||
|
|
|
|
|
|
Interest
|
|
|
|
|
|
|
Balance
|
|
Rate
|
|
|
Maturity
|
|
|
Balance - November 30, 2011
|
|
$
|
30,000
|
|
|
|
|
|
|
Borrowings
|
|
|
70,800
|
|
4
|
%
|
|
Due on demand
|
|
Repayments/Conversions
|
|
|
(51,000)
|
|
|
|
|
|
|
Balance - November 30, 2012
|
|
$
|
89,800
|
|
|
|
|
|
|
Borrowings
|
|
|
181,506
|
|
8
|
%
|
|
Due on demand
|
|
Conversion of borrowings to equity
|
|
|
(183,306)
|
|
|
|
|
|
|
Balance - November 30, 2013
|
|
$
|
88,000
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
|
|
Conversion
|
|
|
|
Balance
|
|
Rate
|
|
Maturity
|
|
|
Price
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance - November 30, 2011
|
|
$
|
-
|
|
|
|
|
|
|
|
|
Borrowings
|
|
|
-
|
|
|
|
|
|
|
|
|
Conversion of borrowings to equity
|
|
|
-
|
|
|
|
|
|
|
|
|
Balance - November 30, 2012
|
|
$
|
-
|
|
|
|
|
|
|
|
|
Borrowings
|
|
|
25,000
|
|
4
|
%
|
Due on demand
|
|
$
|
0.25
|
|
Conversion of borrowings to equity
|
|
|
(25,000)
|
|
|
|
|
|
|
|
|
Borrowings
|
|
|
125,000
|
|
8
|
%
|
January 22, 2015
|
|
|
0.10
|
|
Balance - November 30, 2013
|
|
$
|
125,000
|
|
|
|
|
|
|
|
|
|
|
2013
|
|
2012
|
|
2011
|
|
|||
Debt Discount
|
|
$
|
-
|
|
$
|
120,000
|
|
$
|
(30,000)
|
|
Amortization of Debt Discount
|
|
|
-
|
|
|
(120,000)
|
|
|
3,571
|
|
Remaining debt discount
|
|
$
|
-
|
|
$
|
-
|
|
$
|
(26,429)
|
|
|
|
2013
|
|
2012
|
|
2011
|
|
|||
Convertible Debt
|
|
$
|
-
|
|
$
|
120,000
|
|
$
|
30,000
|
|
Debt Discount
|
|
|
-
|
|
|
(120,000)
|
|
|
(30,000)
|
|
Amortization of Debt Discount
|
|
|
-
|
|
|
120,000
|
|
|
3,571
|
|
Conversion of Debt into 40,000 shares of common stock to be issued
|
|
|
-
|
|
|
(50,000)
|
|
|
-
|
|
Reclassification of Convertible Note to Demand Note - former related party
|
|
|
-
|
|
|
(70,000)
|
|
|
-
|
|
Convertible Debt Net
|
|
$
|
-
|
|
$
|
-
|
|
$
|
3,571
|
|
F-15 | ||
|
F-16 | ||
|
Type
|
|
Quantity
|
|
Valuation
|
|
Range of Value per share
|
|
||
Cash
|
|
8,066,000
|
|
$
|
318,910
|
|
$
|
0.0005 2.50
|
|
Cash related parties
|
|
8,960,000
|
|
|
4,480
|
|
|
0.0005
|
|
License agreement (1)
|
|
200,000
|
|
|
250,000
|
|
|
1.25
|
|
Services rendered (2)
|
|
830,000
|
|
|
50,000
|
|
|
.06
|
|
Total
|
|
18,056,000
|
|
$
|
623,390
|
|
$
|
0.0005 - $2.50
|
|
Type
|
|
Quantity
|
|
Valuation
|
|
Range of Value
per Share |
|
||
|
|
|
|
|
|
|
|
|
|
Common Stock Payable
|
|
|
|
|
|
|
|
|
|
For the year ended November 30, 2012, shares authorized but not issued:
|
|
|
|
|
|
|
|
|
|
Cash
|
|
40,000
|
|
$
|
50,000
|
|
$
|
1.25
|
|
Services rendered related parties, vested (See note 9 (E))
|
|
10,000
|
|
|
11,000
|
|
|
1.10
|
|
Services rendered related party, not vested ( See note 9 (E))
|
|
30,000
|
|
|
97,500
|
|
|
3.25
|
|
Debt Conversion (See note 6 )
|
|
40,000
|
|
|
50,000
|
|
|
1.25
|
|
Total shares authorized but not issued (included in Common Stock Payable at November 30, 2012)
|
|
120,000
|
|
$
|
208,500
|
|
$
|
1.10-3.25
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|
For the year ended November 30, 2013
|
|
|
|
|
|
|
|
|
|
Cash
|
|
215,000
|
|
|
12,900
|
|
$
|
0.06
|
|
Services rendered related parties, vested
|
|
1,666,667
|
|
|
150,000
|
|
|
0.09
|
|
Services rendered related party, not vested
|
|
2,333,333
|
|
|
-
|
|
|
-
|
|
Services rendered
|
|
82,813
|
|
|
142,470
|
|
|
0.18-0.80
|
|
Services rendered, not vested
|
|
1,500,000
|
|
|
143,750
|
|
|
0.09
|
|
Debt and accrued expense conversion related party
|
|
2,802,400
|
|
|
246,496
|
|
|
0.06-0.09
|
|
Debt Conversion
|
|
3,624,967
|
|
|
425,547
|
|
|
0.06-0.09
|
|
Total
|
|
12,225,180
|
|
$
|
1,121,163
|
|
$
|
0.06-0.80
|
|
F-17 | ||
|
|
|
2012
|
|
2011
|
|
||
License
|
|
$
|
250,000
|
|
$
|
250,000
|
|
Accumulated Amortization
|
|
|
(9,205)
|
|
|
(4,205)
|
|
Impairment
|
|
|
(240,795)
|
|
|
-
|
|
License - Net
|
|
$
|
-
|
|
$
|
245,795
|
|
Expected dividends
|
|
0
|
%
|
Expected volatility
|
|
150
|
%
|
Expected term
|
|
1 year
|
|
Risk free interest rate
|
|
0.28
|
%
|
Expected forfeitures
|
|
0
|
%
|
|
|
|
|
|
|
|
Weighted Average
|
|
|
|
|
|
|
|
Weighted
|
|
Remaining
|
|
|
|
|
|
|
|
|
Average
|
|
Contractual
|
|
|
|
|
|
|
|
|
Exercise
|
|
Life in
|
|
Intrinsic
|
|
|
|
|
Warrants
|
|
Price
|
|
Years
|
|
Value
|
|
|
Balance - November 30, 2011
|
|
200,000
|
|
$
|
5.00
|
|
.12
|
|
|
|
Granted
|
|
-
|
|
|
-
|
|
|
|
|
|
Forfeited/Cancelled(1)
|
|
(200,000)
|
|
|
-
|
|
|
|
|
|
Exercised
|
|
-
|
|
|
-
|
|
|
|
|
|
Balance November 30, 2012-outstanding
|
|
-
|
|
|
-
|
|
|
|
-
|
|
Balance November 30, 2012-exercisable
|
|
-
|
|
$
|
-
|
|
-
|
|
-
|
|
|
(1)
|
On January 11, 2012, the
200,000
warrants expired unexercised.
|
F-18 | ||
|
|
|
|
|
|
|
|
Weighted Average
|
|
|
|
|
|
|
|
|
Weighted
|
|
Remaining
|
|
|
|
||
|
|
Number of
|
|
Average Grant
|
|
Contractual Life
|
|
Aggregate
|
|
||
|
|
Shares
|
|
Date Fair Value
|
|
(in Years)
|
|
Intrinsic Value
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
Unvested November 30, 2011
|
|
-
|
|
|
|
|
|
|
|
|
|
Granted
|
|
-
|
|
|
|
|
|
|
|
|
|
Vested
|
|
-
|
|
|
|
|
|
|
|
|
|
Unvested November 30, 2012
|
|
-
|
|
$
|
|
|
|
|
$
|
-
|
|
Granted
|
|
5,500,000
|
|
|
0.07
|
|
|
|
|
|
|
Vested
|
|
-
|
|
|
|
|
|
|
|
|
|
Unvested November 30, 2013
|
|
5,500,000
|
|
$
|
0.07
|
|
0.6
|
|
$
|
-
|
|
F-19 | ||
|
Term of contract
|
5
years, expiring on
December 31, 2015
|
Salary
|
$
200,000
|
Salary deferral
|
All salaries will be accrued but may be paid from the Company’s available cash flow funds.
|
F-20 | ||
|
F-21 | ||
|
|
|
2013
|
|
2012
|
|
||
Level 1 None
|
|
$
|
-
|
|
$
|
-
|
|
Level 2 Marketable Securities (AFS)
|
|
|
-
|
|
|
38,250
|
|
Level 3 None
|
|
|
-
|
|
|
-
|
|
Total
|
|
$
|
-
|
|
$
|
38,250
|
|
F-22 | ||
|
F-23 | ||
|
1 Year BioPower Operations (CE) Chart |
1 Month BioPower Operations (CE) Chart |
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