UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
10-K
[X]
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the fiscal year ended November 30, 2015
[ ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission
File Number: 333-169128
DANIELS
CORPORATE ADVISORY COMPANY, INC.
(Exact
Name of Registrant as Specified in Its Charter)
Nevada |
|
04-3667624 |
(State
or Other Jurisdiction of |
|
(IRS
Employer |
Incorporation
or Organization) |
|
Identification
No.) |
Parker
Towers, 104-60, Queens Boulevard
12th
Floor Forest Hills, New York |
|
11375 |
(Address
of Principal Executive Offices) |
|
(Zip
Code) |
Registrant’s
Telephone Number, Including Area Code: (347) 242-3148
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Name
of Each Exchange on Which Registered |
Common
Stock, $.001 par value per share |
|
Over-the
Counter |
Securities
registered pursuant to Section 12(g) of the Act: None
Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ]
No [X]
Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [ ]
No [X]
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports)
and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]
Indicate
by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]
Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not
be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K. [ ]
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act. (check one):
[ ]
Large accelerated filer |
[ ]
Accelerated filer |
[ ]
Non-accelerated filer |
[X]
Smaller reporting company |
|
|
(Do
not check if a smaller reporting company) |
|
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No
[X]
The
aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant as of February 29,
2016 based upon the closing price as of such date was $142,577.
As
of February 29, 2016, 518,404,664 shares of the registrant’s common stock, par value $0.001 per share, were outstanding.
Table
of Contents
Forward
Looking Statements
The
statements contained in this report other than statements of historical fact are “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These forward-looking statements represent the Registrant’s present expectations or beliefs concerning future
events. The Registrant cautions that such forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the Registrant to be materially different from any
future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among
other things, the uncertainty as to the Registrant’s future profitability; the uncertainty as to the demand for Registrant’s
services; increasing competition in the markets that Registrant conducts business; the Registrant’s ability to hire, train
and retain sufficient qualified personnel; the Registrant’s ability to obtain financing on acceptable terms to finance its
growth strategy; and the Registrant’s ability to develop and implement operational and financial systems to manage its growth.
These forward-looking statements speak only as of the date of this report. We assume no obligation or undertaking to update or
revise any forward-looking statements contained herein to reflect any changes in its expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement is based. You should, however, review additional disclosures
we make in the reports we file with the SEC.
PART
I
Item
1. Business.
Overview
Daniels
Corporate Advisory has established a permanent base upon which to provide the corporate strategy consulting services noted below,
through a variety of methods: including the issunace of additional shares in private placement and/or issuance of anti-dilutive
Convertible Preferred Stock and loans from senior officers to provide the necessary working capital of the Company to sustain
activities under any consulting assignment obtained through the networking of senior executives or through the initial purchase
of rights to be the provider of choice to offer a financial specialty package inclulding corporate strategy to clients of other
financial/business services companies. While rights agreements of this nature are not typical, senior management, drawing on personal
contacts and those of credentially members of its Corporate Strategy Advisory Board believes that offering to provide a very select
service that would be very costly to duplicate with permanent in-house professionals and will augment other financial services
already being offered/implemented by the financial/business services firm (a referral generator) entering into the rights agreement
with Daniels Corporate Advisory, will be an acceptable additional option. However, there is no assurance that has time goes by
a client may decide to enter our business and there is no provision in our agreement to prevent that from happening. However,
our senior management believes that our success with the ultimate client, the client network member of a financial/business services
client, will determine whether Daniels Corporate Advisory retains the client or not.
The
services incorporated into corporate strategy advisory and implementation to help formulate a path for the acceleration of corporate
development (growth) include market analysis, negotiation, deal structure and determination of finance alternatives for the creation
of joint-ventures, marketing agreements, new product/creation additions and acquisitions. Daniels Corporate Advisory has a loosely
organized cadre of highly-qualified, independent contractors/consultants available to perform the necessary services to achieve
the optimum corporate strategy for a client.
Services
will also be provided in corporate financial advisory, which, like corporate strategy, is a specialized segment of corporate advisory.
It deals more with operations/cost control issues that can be established in-house with the aid of our on-call professionals.
These offerings would be extremely expensive to do in-house by any potentially competitive financial service firm retaining Daniels
Corporate Advisory, on behalf of on of its clients, because of its fixed overhead.
Daniels
is developing direct methods for the acquisition of clients, namely advertising in industry niches of interest and subsequent
referral by a stockholder or partner . Name brand recognition is expected to be created after one or two successful corporate
strategy assignments and the publicizing of these events on web sites related to this specialty, ours and theirs, on the worldwide
web.
Daniels
Corporate Advisory is operating at the present time through the corporate strategy segment of its business in order to build its
own critical mass by creation of start-up subisidaries it believes to have promise/potential, with the stated goal of the parent
(DCAC) company to meet the financial requirements necessary for major Stock Exchange Listing. Senior management and its Advisory
Board are providing preliminary services to three such potential clients; one under a formal LOI (Letter of Intent) and two in
final negotiations.
As
our presence in the market place becomes more visible, through publication on client websites of our successes in our initial
corporate strategy consulting assignments added financing options are expected to materialize for the benefit of our clients.
Capital companies and high-net worth (accredited) individuals may contact us to see if they may participate directly in subsequent
assignments.
Recent
Business Developments
The
Company conducts on-going networking and business development in corporate strategy through its chairman, on a chairman to chairman
basis, through the networks of its Advisory Board Members and its expanded, independent contractor consulting team. A full range
of disciplines are offered to the nano-cap public and private company through personalized relationship networking to keep initial
marketing costs at a minimum. Disciplines being offered are operational strategies, market-planning, senior oversight management
and financial alternatives consulting on optimum paths for the client to take. This could include but not be limited to external
growth alternatives requiring advisory on M & A, levered transactions, capital structure, bridge loans, and equity financing.
Business
Strategy - Current Operational Strategy & Current Client Projects:
Daniels
creates and implements corporate strategy alternatives for the mini-cap public or private company client. The addition of new
business opportunities and the location of professinal talent for implementation is anticipated through the full-time efforts
of our senior management. These efforts are to be expanded in the US and in Foreign capitals by an expanding advisory board and
through the networks of independent consultants. Principals of the respective client company will open their networks to augment
professional access for specialties the Daniels corporate strategy consultants believe are needed in a jointly-venture, (jointly-controlled)
undertaking created for the client’s optimum growth.
Daniels
may provide the client with multiple corporate strategies /opportunities including joint-ventures, marketing opportunity agreements
and/or potential acquisitions structured in LBO format. One or a combination of these strategies would allow the client to enter
new market niches or expand further into existing ones.
The
Goal: Within twenty-four months from commencement of a Corporate Strategy Assignment, financial results, aided by all participating
players, should be forthcoming and recorded in SEC Filings. At the same time, a senior mangement team and Board expanded with
highly-credible interim (or permanent) professionals (directors) will be provded in order to successfully navigate the listing
process of a major Stock Exchange. While Daniels believes this process should be successful in the above-noted, time period, there
is some uncertainity in the process which is dependent upon any past issues the listing committee of a specific exchange may deem
necessary to be addressed prior to uplifting.
A
similar effort will be provided to tailor an optimum growth program for the private company client, whether it chooses to remain
private or to become a public company through alternative merger opportunities.
Current
Projects: Start-Up Subsidiaries To be Expanded in Fiscal 2016.
Just
After the Close of Fiscal 2015, Daniels Food & Beverage Group was launched and continues to grow and meet initial objectives.
The Company purchased a permanent option for $27,500 to provide advisory and some capital to acquire a candidate for the Italian
Cafe’s segment of its announced business model. The initial target company does approximately $185,000 in revenues and generates
a profit of $75,000. The total purchase price is $100,000 with the option value contributed as part payment. An operating partner
corporation with significant, related experience is joint-venturing with Daniels in the further build-out of the Italian Cafe’s
segment of the Food & Beverage Group. Daniels intends to consummate this transaction during the first half of the current
fiscal year.
Further
expansion of the Consulting segment of our business model and that of the Food & Beverage Group is anticipated through our
Letter Of Intent with Island Hospitality Concepts, Inc. (“IHC”). This Consulting Group develops and executes on restaurant
themes for expansion in the Islands, initially concentrating in the Dominican Republic. It has a successful 30 year history and
has already developed several profitable island brands that can be built out further through a Daniels incubation project and
them offered through a Franchising Program.
Other
Start-Up Potentials in discussions/negotations at the current time include one in Merchant Finance and one in Construction - specifically,
the reconstruction of disaster damaged properties.
OPTIMUM
GROWTH STRATEGY:
Twelve
to Twenty four Month Horizons for Daniels’ Objectives:
Daniels’
believes that the validity of its corporate strategy model will be proven further through the success of several of its client/incubation/subsidiary
deals. The Company plans to use its publicly traded common stock, in a variety of securities packages, including anti-dilutive
Convertible Preferreds, to finance a subsidiary start-up, initially for generic sales/profits growth. Subsequent growth options
noted above will be applied as external growth becomes a secondary goal. This method of two stage (generic and then external)
growth is designed to leave existing client management with commanding equity and operating control positions. Eventually, an
optimum exit strategy will be developed for the subsidiary, one that returns a significant return on corporate (parent) capital.
The choices of optimum exit strategies could include bringing a subsidiary public, directly, or merging it with a public company
operating in one of the more profitable niches of the specific market designated for expansion. The same corporate strategy model
can/will be applied to any independent mini-cap public client.
We
believe our business model to be scalable. Based upon the potential success of the initial corporate strategy consulting assignments
creating our uplifitng to a major Stock Exchange, Daniels may entertain the creation of a franchising plan for key US Cities and
Foreign Capitals or Finance Centers.
Sales
and Marketing
Daniels
senior management will concentrate its efforts to expand its corporate strategy and financial advisory services and related specialties
in the nano-cap segment of the private and public markets, where Daniels believes it will be effective. Marketing efforts will
increase through social and print media efforts and will be in addition to those methods already mentioned herein.
Daniels
objective is to create and help manage implementation of accelerated expansion strategies and in so doing, aid in the creation
of financing alternatives to accomplish client goals.
Competition
Existing
and new competitors will continue to improve their services and introduce new services with competitive price and performance
characteristics.
In
periods of reduced demand for our services, we can either choose to maintain market share by reducing our prices to meet competition
or maintain prices and choose only those assignments with new clients, that have pressing goals to be met, that offer Daniels
optimum potential for profits and growth.
The
“collective” corporate financial services, including merchant banking/private equity, are very competitive and fragmented
in the Company’s market niche. There are limited barriers to entry and new competitors frequently enter the market. A significant
number of our competitors possess substantially greater resources. We are and will continue to offer equity compensation to our
team of Advisory Board Members, and independent strategy consultants in order to keep a stable, cohesive team of professionals,
which is necessary and key to the creation of operating and capital solutions in a timely fashion.
Item
1A. Risk Factors.
An
investment in our Common Stock is highly speculative, involves a high degree of risk and should be considered only by those persons
who are able to afford a loss of their entire investment. In evaluating our business, prospective investors should carefully consider
the following risk factors in addition to the other information included in this Annual Report.
Risks
Relating to Our Business
We
have a limited operating history which may not serve as an adequate basis to judge our future prospects and results of operations.
Daniels
Corporate Advisory Company, Inc., which was incorporated on August 22, 2002, has a limited operating history upon which an evaluation
of our future performance and prospects can be made. We are an early-stage operating company with limited revenue history.Our
prospects must be considered in light of the risks, expenses, delays, problems and difficulties frequently encountered in the
establishment of a new business. As an early-stage operating company, Daniels Corporate Advisory faces risks and uncertainties
relating to its ability to successfully implement its business plan, which are described in more detail below.
Since
inception, as a subsidiary of INfe Human Resources, Inc., Daniels Corporate Advisory has always been an operating company, furnishing
its advisory to all phases of operations, finance and in the management of the staffing industry roll-up for its parent company
for which revenues were eliminated during consolidations.
Limited
revenues and ongoing losses.
Since
inception, Daniels Corporate Advisory has generated limited revenue. Daniels earnings potential would have been greater; however,
its focus had been in a financial advisory capacity to its parent company INfe Human Resources, which concentrated in Staffing
and Executive Placements Industries. Daniels was spun off to concentrate on its core Corporate Strategy consulting business. Daniels
has incurred consistent operating losses to date.
Our
business strategy is unproven and our prospects must be considered speculative.
Our
business strategy is unproven, and we may not be successful in addressing early stage challenges, such as establishing our position
in the market and developing effective marketing of our services. To implement our business plan, capital may be provided from
existing and possibly new consulting business revenue and through outside financing. We have not yet located additional financing
to implement our business plan in its entirety. Initial growth may be very limited and based solely on compensation from a small,
existing, consulting assignment with no guarantee of obtaining additional assignments over the next twelve months. The other potential
growth segment of our business plan, the acquisition of marketing rights for our services through the client networks of other
Business Services Companies, will only occur if we can obtain outside financing. Internally generated funds, alone, will not be
sufficient to implement this phase of our business plan.
Our
prospects must be considered speculative, considering the risks, expenses, and difficulties frequently encountered in the establishment
of a new business, specifically the risks inherent in developmental stage companies. We expect to continue to incur significant
operating and capital expenditures and, as a result, we expect significant net losses in the future. It is possible that we will
not be able to achieve profitable operations or, if profitability is achieved, that it will be maintained for any significant
period, or at all.
Our
auditors have stated we may not be able to stay in business.
Our
auditors have issued a going concern opinion, which means that there is doubt that we can continue as an ongoing business for
the next 12 months.Unless we can raise additional capital, we may not be able to achieve our objectives and may have to suspend
or cease operations. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
The
JOBS Act allows us to delay the adoption of new or revised accounting standards that have different effective dates for public
and private companies.
Since,
we have elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(1)
of the JOBS Act, this election allows us to delay the adoption of new or revised accounting standards that have different effective
dates for public and private companies until those standards apply to private companies. As a result of this election, our financial
statements may not be comparable to companies that comply with public company effective dates.
We
have different disclosure requirements than other public companies as an Emerging Growth Company(EGC).
Pursuant
to Section 107 of the Jumpstart Our Business Startups Act (the “JOBS Act”) which was signed into law on April 5, 2012,
we have elected to claim the exemption provided to emerging growth companies.
The
JOBS Act provides an “IPO on ramp” for “emerging growth companies” (a newly created category of issuer
under the Securities Act), which are issuers with annual gross revenues of less than $1 billion during the most recently completed
fiscal year. Emerging growth companies may take advantage of the scaled disclosure requirements that already have been available
to “smaller reporting companies” (defined by the Securities Act as companies having a public float of less than $75
million). The scaled disclosure includes a requirement to include only two, rather than three, years of audited financial statements
in the issuer’s initial public offering (“IPO”) registration statement and, during the “IPO on ramp”
period, the ability to omit the auditor’s attestation on internal control over financial reporting required by the Sarbanes-Oxley
Act of 2002.
Also
during the “IPO on ramp” period, emerging growth companies would not need to submit say-on-pay votes to their stockholders
(including say-on-pay frequency or golden parachute votes) and would face more limited executive compensation disclosure requirements
than larger companies.
We
may not be successful in the implementation of our business strategy or our business strategy may not be successful, either of
which will impede our development and growth.
Daniels
Corporate Advisory is engaged in the business of offering corporate financial consulting services and merchant banking services.
We
do not know whether we will be able to continue successfully implementing our business strategy or whether our business strategy
will ultimately be successful. In assessing our ability to meet these challenges, a potential investor should take into account
our lack of operating history, our management’s relative inexperience, the competitive conditions existing in our industry
and general economic conditions. Our growth is largely dependent on our ability to successfully implement our business strategy.
Our revenues may be adversely affected if we fail to implement our business strategy or if we divert resources to a business strategy
that ultimately proves unsuccessful.
Our
service offerings may not be accepted.
We
constantly seek to modify our service offerings to the marketplace. As is typically the case evolving service offerings, anticipation
of demand and market acceptance are subject to a high level of uncertainty. The success of our service offerings primarily depends
on the interest of our customers. In general, achieving market acceptance for our services will require substantial marketing
efforts and the expenditure of significant funds, which we may not have available, to create awareness and demand among customers.
We
have limited marketing experience, and have extremely limited financial, personnel and other resources to undertake extensive
marketing activities. Accordingly, we are uncertain as to the acceptance of any of our services or our ability to generate the
revenues necessary to remain in business.
Risks
associated with our ability to manage expansion as a result of acquisitions.
The
growth of our business depends in large part on our ability to manage expansion, control costs in our operations and consolidate
acquisitions into existing operations. This strategy will entail reviewing and potentially reorganizing acquired operations, corporate
infrastructure and system and financial controls. Unforeseen expenses, difficulties, complication and delays frequently encountered
in connection with the rapid expansion of operations could inhibit our growth and adversely affect our financial condition, results
of operations or cash flow.
Risks
associated with our inability to identify suitable acquisition candidates.
We
may be unable to identify acquisition candidates that would result in the most successful combinations or be unable to consummate
acquisitions on acceptable terms. The magnitude, timing and nature of future acquisitions will depend upon various factors, including
our success in establishing the corporate development “pilot programs” for consulting clients as a viable means of
growth acceleration, the availability of suitable acquisition candidates that have the client base suitable for cross-marketing
opportunities, the negotiation of acceptable terms, our financial capabilities, the availability of skilled employees to manage
acquired companies and general economic and business conditions.
We
may be unable to obtain financing for the acquisitions that are available to us.
We
are currently attempting to obtain financing for our corporate financial consulting and merchant banking services lines of business
as well as for acquisition opportunities which could result in material dilution to our existing stockholders. We may be unable
to obtain adequate financing for further development of our proposed services and for any acquisition for cross-marketing of services
purposes, or that, if available, such financing will be on favorable terms.
Our
future financial results are uncertain and our operating results may fluctuate, due to, among other things, consumer trends, seasonal
fluctuations and market demand.
As
a result of our short and sporadic operating history, it is difficult to accurately forecast our revenue. Further, we have little
historical financial data upon which to base planned operating expenses.We base our current and future expense levels on our operating
plans and estimates of future expenses. Our expenses are dependent in large part upon expenses associated with our proposed marketing
expenditures and related overhead expenses, and the costs of hiring and maintaining qualified personnel to carry out our respective
services. Sales and operating results are difficult to forecast because they will depend on the growth of our customer base, changes
in customer demands and consumer trends, the degree of utilization of our advertising services as well as the mix of services
and services sold. As a result, we may be unable to make accurate financial forecasts and adjust our spending in a timely manner
to compensate for any unexpected revenue shortfall. This inability could cause our net losses in a given quarter to be greater
than expected.
We
rely on the services of Arthur D. Viola.
Our
business relies on the efforts and talents of our sole officer and director, Arthur D. Viola. The loss of his services could adversely
affect the operations of our business, and could have a very negative impact on our ability to fulfill on our business plan.
We
may have difficulty in attracting and retaining management and outside independent members to our board of directors as a result
of their concerns relating to their increased personal exposure to lawsuits and stockholder claims by virtue of holding these
positions in a publicly quoted company.
The
directors and management of publicly quoted corporations are increasingly concerned with the extent of their personal exposure
to lawsuits and stockholder claims, as well as governmental and creditor claims which may be made against them, particularly in
view of recent changes in securities laws imposing additional duties, obligations and liabilities on management and directors.
Due to these perceived risks, directors and management are also becoming increasingly concerned with the availability of directors’
and officers’ liability insurance to pay on a timely basis the costs incurred in defending such claims. We currently do
carry limited directors’ and officers’ liability insurance. Directors’ and officers’ liability insurance
has recently become much more expensive and difficult to obtain. If we are unable to continue or provide directors’ and
officers’ liability insurance at affordable rates or at all, it may become increasingly more difficult to attract and retain
qualified outside directors to serve on our board of directors.
We
may lose potential independent board members and management candidates to other companies that have greater directors’ and
officers’ liability insurance to insure them from liability or to companies that have revenues or have received greater
funding to date which can offer more lucrative compensation packages. The fees of directors are also rising in response to their
increased duties, obligations and liabilities as well as increased exposure to such risks. As a company with limited operating
history and resources, we will have a more difficult time attracting and retaining management and outside independent directors
than a more established company due to these enhanced duties, obligations and liabilities.
We
may fail to establish and maintain strategic relationships.
We
believe that the establishment of strategic partnerships will greatly benefit the growth of our business, and we intend to seek
out and enter into strategic alliances. We may not be able to enter into these strategic partnerships on commercially reasonable
terms, or at all. Even if we enter into strategic alliances, our partners may not attract significant numbers of customers or
otherwise prove advantageous to our business. Our inability to enter into new distribution relationships or strategic alliances
could have a material and adverse effect on our business.
We
may incur significant costs to ensure compliance with U.S. corporate governance and accounting requirements.
We
may incur significant costs associated with our public company reporting requirements, costs associated with newly applicable
corporate governance requirements, including requirements under the Sarbanes-Oxley Act of 2002 and other rules implemented by
the SEC. We expect all of these applicable rules and regulations to increase our legal and financial compliance costs and to make
some activities more time-consuming and costly. We also expect that these applicable rules and regulations may make it more difficult
and more expensive for us to obtain director and officers liability insurance and we may be required to accept reduced policy
limits and coverage or incur substantially higher costs to obtain the same or similar coverage. As a result, it may be more difficult
for us to attract and retain qualified individuals to serve on our board of directors or as executive officers. We are currently
evaluating and monitoring developments with respect to these newly applicable rules, and we cannot predict or estimate the amount
of additional costs we may incur or the timing of such costs.
Risks
Relating to Our Stock
Arthur
D. Viola owns 100,000 shares of our super voting preferred stock entitling him to the right to vote 50,000,000 shares of our common
stock in any election or event. This concentration of ownership could discourage or prevent a potential takeover of Daniels Corporate
Advisory that might otherwise result in your receiving a premium over the market price for your common stock.
Arthur
D. Viola owns 100,000 shares of our super voting preferred stock entitling him to the right to vote 50,000,000 shares of our common
stock in any election or event. This concentration of ownership and voting rights could discourage or prevent a potential takeover
of Daniels Corporate Advisory that might otherwise result in your receiving a premium over the market price for your common stock.
Mr.Viola
owns 2,454,500 shares of our common stock as well as I 00,000 shares of the Daniels Corporate Advisory preferred stock which has
voting rights equal to 500 shares of the Daniels Corporate Advisory common stock for every one share of Daniels Corporate Advisory
preferred stock held, which equates to common stock voting rights of 52,454,500 shares of the Daniels Corporate Advisory common
stock which amount exceeds our current outstanding shares of common stock. The result of Mr. Viola ‘s the ownership and
voting rights to our common stock allows Mr. Viola to have voting control on all matters submitted to our stockholders for approval
and to be able to control our management and affairs, including extraordinary transactions such as mergers and other changes of
corporate control, and going private transactions. Additionally, this concentration of voting power could discourage or prevent
a potential takeover of Daniels Corporate Advisory that might otherwise result in your receiving a premium over the market price
for your common stock.
We
may need to raise additional capital. If we are unable to raise necessary additional capital, our business may fail or our operating
results and our stock price may be materially adversely affected.
Because
we are a newly operational company, we need to secure adequate funding. Selling additional stock, either privately or publicly,
would dilute the equity interests of our stockholders. If we borrow more money, we will have to pay interest and may also have
to agree to restrictions that limit our operating flexibility. If we are unable to obtain adequate financing, we may have to curtail
our operations and our business would fail.
Our
issuance of additional common stock in exchange for services or to repay debt would dilute your proportionate ownership and voting
rights and could have a negative impact on the market price of our common stock.
The
stated listing requirements for the OTCBB are as follows:
Fully
reporting with the Securities and Exchange Commission;
Not
a black check or inactive company;
Minimum
of 40 stockholders of record holding at least 100 shares each (note: this number is informal and has been moving up);
Directors,
officers, and stockholders will be scrutinized for previous involvements in other OTCBB companies, in particular, blank check
companies; and
Must
have a market maker submit a Rule 15c211 application to FINRA and agree to act as market maker for securities of company.
Even
if our shares become publicly quoted, your shares may not be “free-trading.”
Investors
should understand that their shares of our common stock will not become “free-trading” merely because Daniels Corporate
Advisory is a publicly-quoted company. In order for the shares to become “free-trading,” the shares must be registered,
or entitled to an exemption from registration under applicable law. See “Shares Eligible for Future Sale.”
We
may need to raise additional capital. If we are unable to raise necessary additional capital, our business may fail or our operating
results and our stock price may be materially adversely affected.
Because
we are a newly operational company, we need to secure adequate funding. Selling additional stock, either privately or publicly,
would dilute the equity interests of our stockholders. If we borrow more money, we will have to pay interest and may also have
to agree to restrictions that limit our operating flexibility. If we are unable to obtain adequate financing, we may have to curtail
our operations and our business would fail.
Our
issuance of additional common stock in exchange for services or to repay debt would dilute your proportionate ownership and voting
rights and could have a negative impact on the market price of our common stock.
Our
sole director, Mr. Viola, may generally issue shares of common stock to pay for debt or services, without further approval by
our stockholders based upon such factors as our board of directors may deem relevant at that time. It is likely that we will issue
additional securities to pay for services and reduce debt in the future. It is possible that we will issue additional shares of
common stock under circumstances we may deem appropriate at the time.
We
have never paid or declared any dividends on our common stock.
We
have never paid or declared any dividends on our common stock. Likewise, we do not anticipate paying, in the near future, dividends
or distributions on our common stock or our common stock to be sold in this offering. Any future dividends will be declared at
the discretion of our board of directors and will depend, among other things, on our earnings, our financial requirements for
future operations and growth, and other facts as we may then deem appropriate.
Our
directors have the right to authorize the issuance of shares of our preferred stock and additional shares of our common stock.
Our
sole director, Mr. Viola, within the limitations and restrictions contained in our articles of incorporation and without further
action by our stockholders, has the authority to issue shares of preferred stock from time to time in one or more series and to
fix the number of shares and the relative rights, conversion rights, voting rights, and terms of redemption, liquidation preferences
and any other preferences, special rights and qualifications of any such series. We have no intention of issuing shares of preferred
stock at the present time. Any issuance of shares of preferred stock could adversely affect the rights of holders of our common
stock.
Should
we issue additional shares of our common stock at a later time, each investor’s ownership interest in our stock would be
proportionally reduced. No investor will have any preemptive right to acquire additional shares of our common stock, or any of
our other securities.
If
our shares become publicly quoted and our shares are quoted on the Pink Sheets or the OTCBB, and we fail to remain current in
our reporting requirements, we could be removed from the OTCBB, which would limit the ability of broker-dealers to sell our securities
and the ability of stockholders to sell their securities in the secondary market.
Companies
whose shares are quoted for sale on the OTCBB and some whose shares are quoted for sale on the Pink Sheets must be reporting issuers
under Section 12 of the Exchange Act, and must be current in their reports under Section 13 of the Exchange Act, in order to maintain
price quotation privileges on the Pink Sheets and OTCBB. If our shares become publicly quoted and our shares are quoted for sale
on the OTCBB, and we fail to remain current in our reporting requirements, we could be removed from the OTCBB. As a result, the
market liquidity for our securities could be adversely affected by limiting the ability of broker-dealers to sell our securities
and the ability of stockholders to sell their securities in the secondary market.
If
our shares become publicly quoted, the market price for our common stock will most likely be particularly volatile given our status
as a relatively unknown company with a small and thinly quoted public float, limited operating history and lack of net revenues
which could lead to wide fluctuations in our share price. The price at which you purchase our common stock may not be indicative
of the price that will prevail in the trading market.
If
our shares become publicly quoted, the market for our common stock will most likely be characterized by significant price volatility
when compared to seasoned issuers, and we expect that our share price will be more volatile than a seasoned issuer for the indefinite
future. The volatility in our share price would be attributable to a number of factors. First, as noted above, the shares of our
common stock will likely be sporadically and/or thinly quoted. As a consequence of this lack of liquidity, the trading of relatively
small quantities of shares by our stockholders may disproportionately influence the price of those shares in either direction.
The price for our shares could, for example, decline precipitously in the event that a large number of shares of our common stock
are sold on the market without commensurate demand, as compared to a seasoned issuer which could better absorb those sales without
adverse impact on its share price.
Secondly,
we will most likely be a speculative or “risky” investment due to our dependence on an initial flow of corporate consulting
assignments and their implementation producing positive results to attract new clients. As a consequence of this enhanced risk,
more risk-adverse investors may, under the fear of losing all or most of their investment in the event of negative news or lack
of progress, be more inclined to sell their shares on the market more quickly and at greater discounts than would be the case
with the stock of a seasoned issuer.
As
a consequence, there may be periods of several days or more when trading activity in our shares is minimal or non-existent, as
compared to a mature issuer which has a large and steady volume of trading activity that will generally support continuous sales
without an adverse effect on share price. It is possible that a broader or more active public trading market for our common stock
will not develop or be sustained, or that current trading levels will continue.
Shares
eligible for future sale by our current stockholders may adversely affect our stock price.
The
sale of a significant number of shares of common stock at any particular time could be difficult to achieve at the market prices
prevailing immediately before such shares are offered. In addition, sales of substantial amounts of common stock, including shares
issued upon the exercise of outstanding options and warrants, under Securities and Exchange Commission Rule 144 or otherwise could
adversely affect the prevailing market price of our common stock and could impair our ability to raise capital at that time through
the sale of our securities.
Our
issuance of additional common stock in exchange for services or to repay debt would dilute your proportionate ownership and voting
rights and could have a negative impact on the market price of our common stock.
Our
sole director, Mr. Viola, may generally issue shares of common stock to pay for debt or services, without further approval by
our stockholders based upon such factors as Mr. Viola may deem relevant at that time. We have issued shares of our common stock
in payment for services in the past. It is likely that we will issue additional securities to pay for services and reduce debt
in the future. It is possible that we will issue additional shares of common stock under circumstances we may deem appropriate
at the time.
Anti-takeover
provisions may impede the acquisition of Daniels Corporate Advisory.
Certain
provisions of the Nevada Revised Statutes have anti-takeover effects and may inhibit a non-negotiated merger or other business
combination. These provisions are intended to encourage any person interested in acquiring Daniels Corporate Advisory to negotiate
with, and to obtain the approval of, our sole director, Mr. Viola, in connection with such a transaction. As a result, certain
of these provisions may discourage a future acquisition of Daniels Corporate Advisory, including an acquisition in which the stockholders
might otherwise receive a premium for their shares.
You
may be unable to sell your common stock at or above your purchase price, which may result in substantial losses to you.
The
following factors may add to the volatility in the price of our common stock: actual or anticipated variations in our quarterly
or annual operating results; government regulations, announcements of significant acquisitions, strategic partnerships or joint
ventures; our capital commitments; and additions or departures of our key personnel. Many of these factors are beyond our control
and may decrease the market price of our common stock, regardless of our operating performance. We cannot make any predictions
or projections as to what the prevailing market price for our common stock will be at any time, including as to whether our common
stock will sustain the current market price, or as to what effect the sale of shares or the availability of common stock for sale
at any time will have on the prevailing market price.
We
may need to raise additional capital. If we are unable to raise necessary additional capital, our business may fail or our operating
results and our stock price may be materially adversely affected.
We
may need to secure adequate funding. If we are unable to obtain adequate funding, we may not be able to successfully develop and
market our proposed products and our business will most likely fail. We do not have commitments for additional financing. To secure
additional financing, we may need to borrow money or sell more securities, which may reduce the value of our outstanding securities.
We may be unable to secure additional financing on favorable terms or at all.
Selling
additional stock, either privately or publicly, would dilute the equity interests of our stockholders. If we borrow more money,
we will have to pay interest and may also have to agree to restrictions that limit our operating flexibility. If we are unable
to obtain adequate financing, we may have to curtail business operations, which would have a material negative effect on operating
results and most likely result in a lower stock price.
If
our shares become publicly quoted, an active trading market in our shares may not be sustained.
If
our shares become publicly quoted, an active trading market in our shares may not be sustained. Factors such as those discussed
in this “Risk Factors” section may have a significant impact upon the market price of the securities to be distributed
by us. Many brokerage firms may not be willing to participate in transactions in a security if a low price develops in the trading
of the security. Even if a purchaser finds a broker willing to effect a transaction in our securities, the combination of brokerage
commissions, state transfer taxes, if any, and any other selling costs may exceed the selling price. Further, many lending institutions
will not permit the use of our securities as collateral for any loans.
If
our shares become publicly quoted, our common stock will most likely be subject to the “penny stock” rules of the
Securities and Exchange Commission, and the trading market in our common stock will be limited, which would make transactions
in our stock cumbersome and may reduce the investment value of our stock.
If
our shares become publicly quoted, our shares of common stock will most likely be “penny stocks” because they most
likely will not be registered on a national securities exchange or listed on an automated quotation system sponsored by a registered
national securities association, pursuant to Rule 3a51-1(a) under the Exchange Act. For any transaction involving a penny stock,
unless exempt, the rules require:
That
a broker or dealer approve a person’s account for transactions in penny stocks; and
That
the broker or dealer receives from the investor a written agreement to the transaction, setting forth the identity and quantity
of the penny stock to be purchased.
The
broker or dealer must also deliver, prior to any transaction in a penny stock, a disclosure schedule prescribed by the Securities
and Exchange Commission relating to the penny stock market, which, in highlight form:
Sets
forth the basis on which the broker or dealer made the suitability determination; and
That
the broker or dealer received a signed, written agreement from the investor prior to the transaction.
Generally,
brokers may be less willing to execute transactions in securities subject to the “penny stock” rules. This may make
it more difficult for investors to dispose of our common stock and cause a decline in the market value of our stock.
Disclosure
also has to be made about the risks of investing in penny stocks in both public offerings and in secondary trading and about the
commissions payable to both the broker-dealer and the registered representative, current quotations for the securities and the
rights and remedies available to an investor in cases of fraud in penny stock transactions. Finally, monthly statements have to
be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny
stocks.
The
market for penny stocks has suffered in recent years from patterns of fraud and abuse.
Stockholders
should be aware that, according to SEC Release No. 34-29093, the market for penny stocks has suffered in recent years from patterns
of fraud and abuse. Such patterns include:
Control
of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer;
Manipulation
of prices through prearranged matching of purchases and sales and false and misleading press releases;
Boiler
room practices involving high-pressure sales tactics and unrealistic price projections by inexperienced salespersons;
Excessive
and undisclosed bid-ask differential and markups by selling broker-dealers; and
The
wholesale dumping of the same securities by promoters and broker-dealers after prices have been manipulated to a desired level,
along with the resulting inevitable collapse of those prices and with consequential investor losses.
Our
management is aware of the abuses that have occurred historically in the penny stock market. Although we do not expect to be in
a position to dictate the behavior of the market or of broker-dealers who participate in the market, if our shares become publicly
quoted, management will strive within the confines of practical limitations to prevent the described patterns from being established
with respect to our securities. The occurrence of these patterns or practices could increase the volatility of our share price.
Subscriptions
to purchase shares in this offering are irrevocable and will be immediately available for our use without any escrow.
The
execution of a subscription agreement by an investor constitutes a binding offer to purchase shares of our common stock. Once
an investor subscribes for our shares, the investor will not be able to revoke his subscription. As stated elsewhere herein, the
proceeds from the sale of our shares will not be subject to any escrow, but will be immediately available for our use. Consequently,
those investors who purchase shares earlier in the offering will be substantially more at risk than those investors who purchase
later in the offering, inasmuch as the later investors will have had the opportunity to assess the success of the offering before
making an investment. In no event will the subscribed amounts be returned to investors.
RISKS
RELATED TO OUR BUSINESS DURING SLOW ECONOMIC ACTIVITY
Our
business environment including potential real estate projects are running at an extremely slow economic pace and may continue
to do so for the foreseeable future. Our prospects must be considered within that framework and in light of the risks, expenses,
delays, problems and difficulties frequently encountered in the re-establishment of a business. As such, we face risks and uncertainties
relating to our ability to successfully implement our business plan.
OUR
AUDITORS ISSUED A GOING CONCERN OPINION WHICH MEANS WE MAY NOT BE ABLE TO ACHIEVE OUR OBJECTIVES AND MAY HAVE TO SUSPEND OR CEASE
OPERATIONS.
Our
auditors issued a going concern opinion for the fiscal years ended November 30, 2015 and November 30, 2014 This means that there
is substantial doubt that we can continue as an ongoing business without additional financing and/or generating profits. If we
cannot raise additional capital or generate sufficient revenues to operate profitably, we may have to suspend or cease operations.
If that occurs, you will lose your investment.
WE
MAY NEED TO RAISE ADDITIONAL FUNDS IN THE FUTURE FOR OUR OPERATIONS AND IF WE ARE UNABLE TO SECURE SUCH FINANCING, WE MAY NOT
BE ABLE TO SUPPORT OPERATIONS.
Future
events, including the problems, delays, expenses and difficulties frequently encountered by growing companies, may lead to cost
and expense increases that could make our revenues insufficient to support our operations and business plans. We may seek additional
capital, including an offering of our equity securities, an offering of debt securities or obtaining financing through a bank
or other entity. We have not established a limit as to the amount of debt we may incur nor have we adopted a ratio of our equity
to a debt allowance. If we need to obtain additional financing, there is no assurance that financing will be available from any
source, that it will be available on terms acceptable to us, or that any future offering of securities will be successful.
We
may seek additional financing which may result in the issuance of additional shares of our common stock and/or rights to acquire
additional shares of our common stock. The issuance of our common stock in connection with such financing may result in substantial
dilution to the existing holders of our common stock who do not have anti-dilution rights. Those additional issuances of our common
stock would result in a reduction of an existing holder’s percentage interest in Broadleaf Capital Partners, Inc.. Our business,
financial condition and results of operations could suffer adverse consequences if we are unable to obtain additional capital
when needed.
OUR
COMMON STOCK MAY BE AFFECTED BY LIMITED TRADING VOLUME AND MAY FLUCTUATE SIGNIFICANTLY.
There
has been a limited public market for our common stock, and an active trading market for our common stock may not develop. As a
result, this could reduce our shareholders’ ability to sell our common stock in short time periods, or possibly at all.
Our common stock has experienced, and is likely to experience in the future, significant price and volume fluctuations which could
reduce the market price of our common stock without regard to our operating performance. In addition, we believe that factors
such as quarterly fluctuations in our financial results and changes in the overall economy or the condition of the financial markets
could cause the price of our common stock to fluctuate substantially.
OUR
COMMON STOCK IS DEEMED A “PENNY STOCK,” WHICH MAY MAKE IT MORE DIFFICULT FOR INVESTORS TO RESELL THEIR SHARES DUE
TO SUITABILITY REQUIREMENTS.
The
Securities and Exchange Commission or SEC has adopted regulations which generally define “penny stock” to be an equity
security that has a market price of less than $5.00 per share, subject to specific exemptions. The market price of our common
stock on the Bulletin Board has been substantially less than $5.00 per share and therefore we are currently considered a “penny
stock” according to SEC rules. This designation requires any broker-dealer selling these securities to disclose certain
information concerning the transaction, obtain a written agreement from the purchaser and determine that the purchaser is reasonably
suitable to purchase the securities. These rules limit the ability of broker-dealers to solicit purchases of our common stock
and therefore reduce the liquidity of the public market for our shares.
NEVADA
LAW AND OUR CERTIFICATE OF INCORPORATION MAY PROTECT OUR DIRECTORS FROM CERTAIN TYPES OF LAWSUITS WHICH COULD RESULT IN LIABILITY
FOR DANIELS AND NEGATIVELY IMPACT OUR LIQUIDITY OR OPERATIONS.
Nevada
law provides that our officers and directors will not be liable to us or our stockholders for monetary damages for all but certain
types of conduct as officers and directors. Our Bylaws permit us broad indemnification powers to all persons against all damages
incurred in connection with our business to the fullest extent provided or allowed by law. These exculpation provisions may have
the effect of preventing stockholders from recovering damages against our officers and directors caused by their negligence, poor
judgment or other circumstances. The indemnification provisions may require us to use our limited assets to defend our officers
and directors against claims, including claims arising out of their negligence, poor judgment, or other circumstances.
SINCE
WE HAVE NOT PAID ANY DIVIDENDS ON OUR COMMON STOCK AND DO NOT INTEND TO DO SO IN THE FORESEEABLE FUTURE, A PURCHASER OF OUR COMMON
STOCK WILL ONLY REALIZE AN ECONOMIC GAIN ON HIS OR HER INVESTMENT FROM AN APPRECIATION, IF ANY, IN THE MARKET PRICE OF OUR COMMON
STOCK.
We
have never paid, and have no intentions in the foreseeable future to pay, any cash dividends on our common stock. Therefore an
investor in our common stock, in all likelihood, will only realize a profit on his investment if the market price of our common
stock increases in value.
IF
WE FAIL TO MAINTAIN AN EFFECTIVE SYSTEM OF INTERNAL CONTROLS, WE MAY NOT BE ABLE TO ACCURATELY REPORT OUR FINANCIAL RESULTS. AS
A RESULT, CURRENT AND POTENTIAL STOCKHOLDERS COULD LOSE CONFIDENCE IN OUR FINANCIAL REPORTING, WHICH COULD HARM OUR BUSINESS AND
THE TRADING PRICE OF OUR COMMON STOCK.
We
are subject to reporting obligations under the U.S. securities laws. The Securities and Exchange Commission as required by Section
404(a) of the Sarbanes-Oxley Act of 2002, adopted rules requiring every public company to include a management report on such
company’s internal controls over financial reporting in its annual report, which contains management’s assessment
of the effectiveness of the company’s internal controls over financial reporting. Since our election to be treated as an
emerging growth company we are exempt from Section 404(b) which is an independent registered public accounting firm attesting
to and reporting on management’s assessment of the effectiveness of the company’s internal controls over financial
reporting. These applicable requirements may first apply to our annual report on Form 10-KSB for the fiscal year ending December
31, 2002. Our management may conclude that our internal controls over our financial reporting are not effective. Moreover, even
if our management concludes that our internal controls over financial reporting are effective, our independent registered public
accounting firm may still decline to attest to our management’s assessment or may issue a report that is qualified if they
are not satisfied with our controls or the level at which our controls are documented, designed, operated or reviewed, or if it
interprets the relevant requirements differently from us.
Our
reporting obligations as a public company will place a significant strain on our management, operational and financial resources
and systems for the foreseeable future. If we fail to timely achieve and maintain the adequacy of our internal controls, we may
not be able to conclude that we have effective internal controls over financial reporting at a reasonable assurance level. Moreover,
effective internal controls over financial reporting are necessary for us to produce reliable financial reports and are important
to help prevent fraud. As a result, our failure to achieve and maintain effective internal controls over financial reporting could
result in the loss of investor confidence in the reliability of our financial statements, which in turn could harm our business
and negatively impact the trading price of our common stock. Furthermore, we anticipate that we will incur considerable costs
and use significant management time and other resources in an effort to comply with Section 404(a) and other requirements of the
Sarbanes-Oxley Act. As of the date of this prospectus we do not have an estimate of the costs to the company of compliance with
the Act.
We
are preparing for compliance with Section 404(a) by strengthening, assessing and testing our system of internal controls to provide
the basis for our report. The process of strengthening our internal controls and complying with Section 404(a) is expensive and
time consuming, and requires significant management attention. We cannot be certain that these measures will ensure that we will
maintain adequate controls over our financial processes and reporting in the future. Furthermore, as we rapidly grow our business,
our internal controls will become more complex and will require significantly more resources to ensure our internal controls overall
remain effective. Failure to implement required new or improved controls, or difficulties encountered in their implementation,
could harm our operating results or cause us to fail to meet our reporting obligations. If we or our auditors discover a material
weakness, the disclosure of that fact, even if quickly remedied, could reduce the market’s confidence in our financial statements
and harm our stock price.
INVESTORS
IN OUR SECURITIES MAY SUFFER DILUTION.
The
issuance of shares of our common stock, or shares of our common stock underlying warrants, options or preferred stock will dilute
the equity interest of existing stockholders who do not have anti-dilution rights and could have a significant adverse effect
on the market price of our common stock. The sale of our common stock acquired at a discount could have a negative impact on the
market price of our common stock and could increase the volatility in the market price of our common stock. We may seek additional
financing which may result in the issuance of additional shares of our common stock and/or rights to acquire additional shares
of our common stock. The issuance of our common stock in connection with such financing may result in substantial dilution to
the existing holders of our common stock who do not have anti-dilution rights. Those additional issuances of our common stock
would result in a reduction of an existing holder’s percentage interest in Daniels Corporate Advisory, Inc.. Our business,
financial condition and results of operations could suffer adverse consequences if we are unable to obtain additional capital
when needed.
Item
1B. Unresolved Staff Comments.
None.
Item
2. Properties.
Daniels
Corporate Advisory’s operational headquarters are located at Parker Towers, 104-60, Queens Boulevard, 12th Floor, Forest
Hills, New York 11375. Our office space is provided by Arthur D. Viola, our sole officer, director, and controlling stockholder
at no charge. As our business grows, we may be forced to move to other offices and pay rent. We believe that our existing facilities
are adequate for our current needs for the foreseeable future and if additional space is needed, it would be available on favorable
terms at an acceptable location.
Item
3. Legal Proceedings.
We
are not currently a party to any material legal proceedings.
Item
4. RESERVED.
PART
II
Item
5. Market for Registrant’s Common
Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market
Information and Holders
The
shares of our common stock are not currently listed for sale on any exchange, although we do plan to attempt to have our shares
quoted for sale on the “Pink Sheets” or the OTC Bulletin Board. However, there can be no assurance that we will be
successful in having our shares quoted or traded on any public market.
The
table below shows the high and low sales prices for our common stock for the periods indicated.
| |
Price Ranges | |
Fiscal Year Ended November 30, 2015 | |
High | | |
Low | |
First Quarter | |
$ | .10 | | |
$ | .039 | |
Second Quarter | |
| .09 | | |
| .029 | |
Third Quarter | |
| .0554 | | |
| .015 | |
Fourth Quarter | |
| .06 | | |
| .0059 | |
Fiscal
Year Ended November 30, 2014 | |
| | |
| |
First Quarter | |
$ | N/A | | |
$ | N/A | |
Second Quarter | |
| N/A
| | |
| N/A | |
Third Quarter | |
| .38 | | |
| 29 | |
Fourth Quarter | |
| .55 | | |
| .12 | |
Since
the company has not yet traded on the “Pink Sheets” or the OTC Bulletin Board there is no closing price of our common
stock, and there were approximately 136 holders of record of our common stock. This number does not include stockholders for whom
shares were held in “nominee” or “street name.”
Dividends
We
have never declared or paid any cash dividends on our common stock and we do not intend to pay cash dividends in the foreseeable
future. We currently expect to retain any future earnings to fund the operation and expansion of our business.
Recent
Sales of Unregistered Securities and Equity Purchases by Company
RLB Freight Consultants Corp. | |
12/8/14 | |
| 155,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$10,850 for consulting services. |
Michael Kofsky | |
12/8/14 | |
| 493,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$34,510 for consulting services. |
Phil Novaro | |
12/8/14 | |
| 519,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$36,330 for consulting services. |
Denise Novaro | |
12/8/14 | |
| 70,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$4,900 for consulting services. |
Richard Delima Consulting | |
2/2/15 | |
| 275,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$16,500 for consulting services. |
Gary I. Syner received on | |
4/17/15 | |
| 15,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$750 for consulting services. |
Vince Caruso received on | |
5/6/15 | |
| 750,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$60,000 for consulting services. |
LPO Consulting received on | |
5/9/15 | |
| 100,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$8,000 for consulting services. |
A. Viola received on | |
5/25/15 | |
| 2,885,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$86,553 for consulting services. |
LG received in conversion of debt on | |
8/26/16 | |
| 2,118,634 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$19,700 for consulting services. |
Vis Vires Group received in conversion of debt on | |
10/29/15 | |
| 1,363,636 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$15,000 for consulting services. |
Actus Private Equity received in conversion of debt on | |
11/4/15 | |
| 2,773,748 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$14,423 for consulting services. |
Vis Vires Group received in conversion of debt on | |
11/9/15 | |
| 2,272,727 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$15,000 for consulting services. |
Actus Private Equity received in conversion of debt on | |
11/12/15 | |
| 3,023,713 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$4,838 for consulting services. |
Vis Vires Group received in conversion of debt on | |
11/12/15 | |
| 4,411,765 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$15,000 for consulting services. |
Vis Vires Group received in conversion of debt on | |
11/30/15 | |
| 5,000,000 | | |
Shares of common stock valued at the stock price |
at the close of trading on the date the issuance was approved | |
| |
| | | |
$8,990 for consulting services. |
Item
6. Selected Financial Data.
Not
applicable.
Item
7. Management’s Discussion and Analysis
of Financial Condition and Results of Operations.
The
following discussion should be read in conjunction with our Consolidated Financial Statements and Notes thereto, included elsewhere
within this report. The Annual Report on Form 10-K/A contains forward-looking statements including statements using terminology
such as “can”, “may”, “believe”, “designated to”, “will”, “expect”,
“plan”, “anticipate”, “estimate”, “potential” or “continue”, or the
negative thereof or other comparable terminology regarding beliefs, plans, expectations or intentions regarding the future. You
should read statements that contain these words carefully because they:
discuss
our future expectations;
contain
projections of our future results of operations or of our financial condition; and
state
other “forward-looking” information.
We
believe it is important to communicate our expectations. However, forward looking statements involve risks and uncertainties and
our actual results and the timing of certain events could differ materially from those discussed in forward-looking statements
as a result of certain factors, including those set forth under “Risk Factors,” “Business” and elsewhere
in this report. All forward-looking statements and risk factors included in this document are made as of the date hereof, based
on information available to us as of the date thereof, and we assume no obligations to update any forward-looking statement or
risk factor, unless we are required to do so by law.
Organizational
Overview
The
company has a growth goal of providing advisory services to business services as well as non-business services client companies.
The company works with companies seeking to create and/or acquire adjunct service businesses, whose services will initially provide
better lifestyles for its existing workforce, and ultimately will be packaged, on an additional profit center basis, for sale
to other small companies for the retention of their employees. The profits generated from all the financial consulting assignments
will be available for venture investment in public or private client companies, as well as other quality business concept/operating
companies, both public and private; through the Daniels’ Merchant Bank Division.
The
Daniels Merchant Bank has an in-house equity funding program, whereby Daniels will participate in consulting client potential
growth by helping finance the growth of public and private client, business service companies, as well as non-business service
companies. The Merchant Bank will also participate in non-client potential growth by the purchase of equity in attractive small
public companies whose growth strategies are in line with a philosophy of growth through leveraged acquisitions.
General
Our
discussion and analysis of our financial condition and results of operations is based on our financial statements, Actual results
may differ from these estimates under different assumptions or conditions. We believe the following critical accounting policies
affect our most significant judgments and estimates used in preparation of our financial statements. which have been prepared
in accordance with accounting principles generally accepted in the U.S. The preparation of these financial statements requires
us to make estimates and judgments that affect the reported amounts of assets, liabilities and expenses. We base our estimates
on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results
of which form the basis for making judgments
about the carrying
values of assets
and liabilities that
are not readily
apparent from other
sources.
Critical
Accounting Policies
Financial
Reporting Release No. 60, published by the SEC, recommends that all companies include a discussion of critical accounting policies
used in the preparation of their financial statements. While all these significant accounting policies impact our financial condition
and results of operations and we view certain of these policies as critical. Policies determined to be critical are those policies
that have the most significant impact on our consolidated financial statements and require management to use a greater degree
of judgment and estimates. Actual results may differ from those estimates.
We
believe that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies
would cause a material effect on our consolidated results of operations, financial position or liquidity for the periods presented
in this report.
The
accounting policies identified as critical are as follows:
Revenue
recognition;
Fair
value of assets.
Use
of estimates
Revenue
Recognition
Revenues
are derived from research, development, qualification and production testing for certain commercial products.
Revenue
from fixed price testing contracts is generally recorded upon completion of the contracts, which are generally short-term, or
upon completion of identifiable contractual tasks. At the time we enter into a contract that includes multiple tasks, we estimate
the amount of actual labor and other costs that will be required to complete each task based on historical experience. Revenues
are recognized which provide for a profit margin relative to the testing performed. Revenue relative to each task and from contracts
which are time and materials based is recorded as effort is expended. Billings in excess of amounts earned are deferred. Any anticipated
losses on contracts are charged to income when identified. To the extent management does not accurately forecast the level of
effort required to complete a contract, or individual tasks within a contract, and we are unable to negotiate additional billings
with a customer for cost over-runs, we may incur losses on individual contracts. All selling, general and administrative costs
are treated as period costs and expensed as incurred.
For
revenue from product sales, we recognize revenue in accordance with Accounting Standards Codification subtopic 605-10,Revenue
Recognition (“ASC 605-10”). ASC 605-10 requires that four basic criteria must be met before revenue can be recognized:
(1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable;
and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments
regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions
for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period
the related sales are recorded. We defer any revenue for which the product has not been delivered or is subject to refund until
such time that we and the customer jointly determine that the product has been delivered or no refund will be required.
ASC
605-10 incorporates Accounting Standards Codification subtopic 605-25, Multiple-Element Arraignments (“ASC 605-25”).
ASC 605-25 addresses accounting for arrangements that may involve the delivery or performance of multiple products, services and/or
rights to use assets. The effect of implementing ASC 605-25 on our financial position and results of operations was not significant.
Fair
Value of Assets
The
Company has adopted the standard FASB Accounting Standards Codification (ASC 820) “Fair Value Measurements and Disclosures”
which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date ASC 820 also establishes a fair value hierarchy that distinguishes
between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs)
and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available
in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority
to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable
inputs (Level 3).
The three levels
of the fair
value hierarchy are
described below:
Level
1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets
or liabilities.
Level
2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability; either directly
or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar
assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability
(e.g. interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or
other means.
Level
3—Inputs that are both significant to the fair value measurement and unobservable.
The
respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term
nature of these instruments. These financial instruments include investments in available-for-sale securities and accounts payable
and accrued expenses. The Company has also applied ASC 820 for all non-financial assets and liabilities measured at fair value
on a non-recurring basis. The adoption of ASC 820 for non-financial assets and liabilities did not have a significant impact on
the Company’s financial statements.
Use
of Estimates
In
preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management
is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of
contingent assets and liabilities at the date of the financial statements and revenue and expenses during the reporting period.
Actual results could differ from those estimates.
Liquidity
and Capital Resources
Our
primary source of liquidity has been expenses paid by Arthur D. Viola, our sole officer and director and controlling stockholder.
No proceeds of this offering will be used to reimburse Mr. Viola; who will be reimbursed out of the gross profits of initial consulting
assignments. As of November 30, 2015, we had $22,941 in cash and cash equivalents and a working capital deficit of $1,400,913.
Financing
Activities
We
will have to raise capital by means of borrowings or through a private placement or a subsequent registered offering. At present,
we do not have any commitments with respect to future financings. If we are unable to raise adequate capital, in the near term,
to finance all phases of a client corporate consulting assignment, our proposed business will experience slow growth because it
will be very hard to compete for business without a sound capital base to support advisory and implementation efforts on our suggested
corporate growth strategies.
At
present, we do have sufficient capital on hand to fund very limited operations for the immediate future. Our consulting income
on current and expected assignments (and continued support from Arthur D. Viola, our key officer and director, is believed to
be sufficient to support current capital demands. Management estimates that we will need at least $2 million to fund client corporate
development consulting projects over the next 12 months. However, even if limited funds are raised, consulting services can still
be provided for Phase One of assignments, (the providing of consulting expertise). Phase Two, (the providing of short term capital
to client companies), will have to be curtailed because of a limited capital raise or be provided by Mr. Viola and/or a joint-venture
partner who will share in the potential revenues from Phase Two portions of any project.
This joint-venture sharing will limit the amount of profit we can earn in any one project.
Limited
growth prospects, because of lack of sufficient capital to implement results of corporate consulting assignments, may very well
not produce sufficient profit to cover the costs that will now be incurred by Daniels Corporate Advisory. Legal and accounting
expenses are significant for a reporting company and we will have to cover them out of limited consulting operations fees due
to lack of adequate funding. This may place additional constraints on the growth prospects of Daniels Corporate Advisory as it
may have to curtail added assignments for lack of adequate working capital to manage these new assignments. If sufficient capital
is not raised over the next 12 months, the limited consulting assignments current available will not be sufficient to sustain
our long term operations as a public company, and we could fail.
Comparison
of the Year Ended November 30, 2015 to the Year Ended November 30, 2014 Revenues
Sales
for the year ended November 30, 2014 were $45,493 compared to $0 for the year ended November 30, 2014 an increase of $45,493.
This reflects revenue from nominal consulting income generated in the fourth quarter.
Operating
Expenses
During
the year ended November 30, 2015, we incurred $1,983,392 in expenses, compared to $157,996 in the same period ended November 30,
2014 a decrease of $1,825,396. Our major cost increase was stock compensation which resulted in an increased of $1,874,563 in
the period. The rest of the increase was due to increased fees of approximately $100,000 incurred for financing and promotional
cost as the company tries to establish itself in the market and has operational cost.
Discontinued
Operations
Our
net loss from our discontinued operating segment for the year ended November 30, 2015 was $222,262 compared to a net income of
$26,728 for the year ended ended November 30, 2014 resulting a decrease of $248,990 as the company continued to commit resources
elsewhere and operations declined.
Other
Income and Expenses
During
the year ended November 30, 2015, we incurred a net expense of $722,783 in other
expense items, compared to $502,998 in net other income in the same period ended November 30, 2014 an increase of $1,205,781.
The major items included here were a write-down of a long term investment by $340,000 and we
incurred interest expense charges of $272,025 and we recorded a derivative
expense of $163,753
on convertible loans.
Retirement of debt
resulted in income
of $108,317. Additionally
we recorded a
loss of $55,322 resulting from the change in fair market value of derivative instruments.
The only material item in the prior period was a onetime gain from debt forgiveness of $500,000.
Net
Income
The
Company had a net loss for the year ended November 30, 2015 of $2,962,769 compared to a net income of $297,899 for the year ended
November 30, 2014. This decrease of $2,990,668 was in majority due to our increase in wages as described above.
Off-Balance
Sheet Arrangements
None.
Inflation
We
believe that inflation has not had a material impact on our results of operations for the two years ended November 30, 2015 and
2014, and since inflation rates have generally remained at relatively low levels our operations are not otherwise uniquely affected
by inflation concerns.
Going
Concern
The
accompanying audited condensed consolidated financial statements included in this filing have been prepared in conformity with
generally accepted accounting principles that contemplate our continuance as a going concern. Our auditors, in their report dated
December 28, 2010, have expressed substantial doubt about our ability to continue as going concern. Our cash position may be inadequate
to pay all of the costs associated with the testing, production and marketing of our products. Management intends to use borrowings
and the sale of equity or convertible debt to mitigate the effects of its cash position, however no assurance can be given that
debt or equity financing, if and when required will be available. The accompanying audited consolidated financial statements do
not include any adjustments relating to the recoverability and classification of recorded assets and classification of liabilities
that might be
necessary should we
be unable to
continue existence.
Item
7A. Quantitative and Qualitative Disclosures About Market Risk.
We
are a smaller reporting company as defined by Rule 12b-2 under the Exchange Act and are not required to provide the information
required under this item.
Item
8. Financial Statements and Supplementary Data.
The
financial statements and notes thereto and supplementary data required by this Item are presented beginning on page F-1 of this
annual report on Form 10-K.
Item
9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.
None.
Item
9A. Controls and Procedures.
Evaluation
of Disclosure Controls and Procedures
We
maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Exchange Act that are designed
to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded,
processed, summarized and reported within the time periods specified in the SEC’s rules and forms and that such information
is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate
to allow timely decisions regarding required disclosure. We carried out an evaluation, under the supervision and with the participation
of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation
of our disclosure controls and procedures as of November 30, 2015. Based on the evaluation of these disclosure controls and procedures,
and in light of the material weaknesses found in our internal controls, the Chief Executive Officer and Chief Financial
Officer concluded that
our disclosure controls
and procedures were
not effective.
Management
Report on Internal Control Over Financial Reporting
Our
management is responsible for establishing and maintaining adequate internal control over financial reporting. Under the supervision
of our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation
of the effectiveness of our internal control over financial reporting as of November 30, 2012 using the criteria established in
Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there
is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or
detected on a timely basis. In our assessment of the effectiveness of internal control over financial reporting as of November
30, 2015, we determined that control deficiencies existed that constituted material
weaknesses, as described below:
lack
of documented policies and procedures.
we
have no audit committee.
there
is a risk
of management override
given that our
officers have a
high degree of
involvement in our
day to day
operations.
there
is no effective
separation of duties,
which includes monitoring
controls, between the
members of management.
Management
is currently evaluating what steps can be taken in order to address these material weaknesses.
Accordingly,
we concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or
interim financial statements will not be prevented or detected on a timely basis by our internal controls.
As
a result of the material weaknesses described above, management has concluded that we did not maintain effective internal control
over financial reporting as of November 30, 2013 based on criteria established in Internal Control—Integrated Framework
issued by COSO.
Scrudato
& Co., PA, an independent registered public accounting firm, was not required to and has not issued a report concerning the
effectiveness of our internal control over financial reporting as of November 30, 2015.
Changes
in Internal Control over Financial Reporting
There
was no change in internal control over financial reporting (as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f))
during our fiscal year that has materially affected, or is reasonably likely to materially affect, our internal control over financial
reporting.
Item
9B. Other Information.
None.
PART
III
Item
10. Directors, Executive Officers and Corporate Governance.
Executive
Officers
Our
executive officers are elected by the Board of Directors and serve at the discretion of the Board. Our executive officers are
as follows:
Name |
|
Age |
|
Position |
Arthur
D Viola |
|
64 |
|
President,
Chief Executive Officer, Acting Chief Financial Officer and Director |
Biographical
information for our executive officers is set forth below:
Arthur
D. Viola has been our chairman, president, chief executive officer and a director since September, 2002. In 1981, Mr. Viola
founded The Viola Group, Inc., a New York based public company which acquired, and managed private companies. From 1990 to the
present, Mr. Viola has served as senior partner of Daniels Corporate Advisory Co., a New York based private company, which is
a predecessor of the registrant, and which advised and helped grow small public companies. Previously, Mr. Viola was involved
in mergers and acquisitions as an AVP Corporate Finance/M&A Department of Bank of America, (1980 1982) as a Senior Acquisitions/Market-Planner
at Gulf & Western (1978 1979) and as a Senior Acquisitions Analyst at Crane Co.,(1975 1978) and was an account manager for
Citibank, N.A. (1971 1974) in their Institutional Investment Management Department. Mr. Viola attended New York University (Advanced
work in Corporate Mergers and Acquisitions) and the New York University Real Estate Institute for Real Estate Development. He
received an MBA from Pace University (Financial Management & Accounting) and a BA from Iona College (Economics and
Finance).
Audit
Committee
The
entire board of directors performs the functions of an audit committee, but no written charter governs the actions of the board
when performing the functions of what would generally be performed by an audit committee. The board approves the selection of
Daniels Corporate Advisory’s independent accountants and meets and interacts with the independent accountants to discuss
issues related to financial reporting. In addition, the board reviews the scope and results of the audit with the independent
accountants, reviews with management and the independent accountants Daniels Corporate Advisory’s annual operating results,
considers the adequacy of Daniels Corporate Advisory’s internal accounting procedures and considers other auditing and accounting
matters including fees
to be paid
to the independent
auditor and the
performance of the
independent auditor.
Daniels
Corporate Advisory has determined that Arthur D. Viola is a financial expert as defined by Section 407 of The Sarbanes-Oxley Act
of 2002. However, Mr. Viola is not independent as that term is used in Item 7(d)(3)(iv) of Schedule 14A under the Exchange Act.
In order to be considered to be independent, a member of an audit committee of a listed issuer that is not an investment company
may not, other than in his capacity as a member of the audit committee, our board of directors or any other board committee:
Accept
directly or indirectly any consulting, advisory or other compensatory fee from the issuer or any subsidiary thereof, provided
that, unless the rules of the national securities exchange or national securities association provide otherwise, compensatory
fees do not include the receipt of fixed amounts of compensation under a retirement plan (including deferred compensation) for
prior service with the listed issuer (provided that such compensation is not contingent in any way on continued service);
or
Be
an affiliated person of the issuer or any subsidiary thereof.
Mr.
Viola has acquired the status of financial expert through experience actively supervising a principal financial officer, principal
accounting officer, controller, public accountant, auditor or person performing similar functions, and overseeing or assessing
the performance of companies or public accountants with respect to the preparation, auditing or evaluation of financial statements.
Conflicts
of Interest
From
time to time, one or more of Daniels Corporate Advisory’s affiliates may form or hold an ownership interest in and/or manage
other businesses both related and unrelated to the type of business that Daniels Corporate Advisory own and operate. These persons
expect to continue to form, hold an ownership interest in and/or manage additional other businesses which may compete with Daniels
Corporate Advisory with respect to operations, including financing and marketing, management time and services and potential customers.
These activities may give rise to conflicts between or among the interests of Daniels Corporate Advisory and other businesses
with which Daniels Corporate Advisory’s affiliates are associated. Daniels Corporate Advisory affiliates are in no way prohibited
from undertaking such activities, and neither Daniels Corporate Advisory nor its stockholders will have any right to require participation
in such other activities.
With
respect to transactions involving real or apparent conflicts of interest, hawse have adopted policies and procedures which require
that: (i) the fact of the relationship or interest giving rise to the potential conflict be disclosed or known to the directors
who authorize or approve the transaction prior to such authorization or approval, (ii) the transaction be approved by a majority
of our disinterested outside directors, and (iii) the transaction be fair and reasonable to Daniels Corporate Advisory at the
time it is authorized or approved by our directors.
Code
of Ethics for Senior Executive Officers and Senior Financial Officers
Daniels
Corporate Advisory has adopted a Code of Ethics for Senior Executive Officers and Senior Financial Officers that applies
to its president,
chief executive officer,
chief operating officer,
chief financial officer,
and all financial
officers, including the principal
accounting officer. The code provides as follows:
Each
officer is responsible for full, fair, accurate, timely and understandable disclosure in all periodic reports and financial disclosures
required to be filed by Daniels Corporate Advisory with the Securities and Exchange Commission or disclosed
to Daniels Corporate
Advisory’s stockholders and/or
the public.
Each
officer shall immediately
bring to the
attention of the
audit committee, or
disclosure compliance officer,
any material information of
which the officer
becomes aware that
affects the disclosures
made by Daniels
Corporate Advisory in
its public filings and assist the audit committee or disclosure compliance officer in fulfilling its responsibilities for
full, fair, accurate, timely and understandable disclosure in all periodic reports required to be filed with the Securities and
Exchange Commission.
Each
officer shall promptly notify Daniels Corporate Advisory’s general counsel, if any, or the president or chief executive
officer as well as the audit committee of any information he may have concerning any violation of our Code of Business Conduct
or Daniels Corporate Advisory’s Code of Ethics, including any actual or apparent conflicts of interest between
personal and professional
relationships, involving any
management or other
employees who have
a significant role
in Daniels Corporate Advisory’s
financial reporting, disclosures
or internal controls.
Each
officer shall immediately bring to the attention of Daniels Corporate Advisory’s general counsel, if any, the president
or the chief
executive officer and
the audit committee
any information he
may have concerning
evidence of a
material violation of the
securities or other
laws, rules or
regulations applicable to
Daniels Corporate Advisory
and the operation
of our business, by Daniels Corporate Advisory or any of its
agents.
Any
waiver of this Code of Ethics for any officer must be approved, if at all, in advance by a majority of the independent
directors serving on
Daniels Corporate Advisory’s
board of directors.
Any such waivers
granted will be
publicly disclosed in accordance
with applicable rules,
regulations and listing
standards.
We
will provide to any person without charge, upon request, a copy of our Code of Ethics. Any such request should be directed to
our corporate secretary at Parker Towers, 104-60, Queens Boulevard, 12th Floor, Forest Hills, New York 11375, telephone 242-3148,
or by e-mail at Onewallstreetn @aol.com.
Section
16(a) Beneficial Ownership Reporting Compliance
Section
16(a) of the Exchange Act requires our directors and executive officers, and persons who beneficially own more than 10% of a registered
class of our equity securities, to file with the SEC initial reports of ownership and reports of changes in ownership. These reporting
persons are required by SEC regulations to furnish us with copies of all such reports they file. To our knowledge, based solely
on our review of the copies of such reports furnished to us and written representations from certain insiders that no other reports
were required, we believe there were no applicable reporting persons based on all applicable Section 16(a) filing requirements
with respect to transactions during the fiscals year ended November 30, 2015 and November 30, 2014
Item
11. Executive Compensation.
Executive
Officer Compensation
At
present Daniels Corporate Advisory has only one executive officer. The compensation
program for future executives will consist
of three key
elements which will
be considered by
a compensation committee
to be appointed:
A
base salary;
A
performance bonus; and
Periodic
grants and/or options of our common stock.
Base
Salary. Daniels Corporate Advisory
chief executive officer
and all other
senior executive officers
receive compensation based on
such factors as
competitive industry salaries,
a subjective assessment
of the contribution
and experience of
the officer, and the specific recommendation by our chief executive officer.
Performance
Bonus. A portion of each officer’s total annual compensation is in the form of a
bonus. All bonus payments to officers
must be approved by our compensation committee based on the individual officer’s performance and company performance.
Stock
Incentive. Stock options are
granted to executive
officers based on
their positions and
individual performance. Stock options provide incentive for the creation of
stockholder value over the long term and aid significantly in the recruitment and retention of
executive officers. The compensation
committee considers the
recommendations of the
chief executive officer
for stock option grants to executive officers (other than the chief executive
officer) and approves, disapproves or modifies such recommendation. See “Market
Price of and
Dividends on our
Common Equity and
Related Stockholder Matters
Securities Authorized for Issuance under Equity Compensation Plans.”
Compensation
to our officers
and employees will
be paid only
when we have
sufficient funds for
that purpose. At present, we do
not possess such funds.
Summary
Compensation Table
The
following table sets
forth, for the
last three fiscal
years, the compensation
earned for services
rendered in all
capacities by our chief
executive officer, chief
financial officer and
the other highest-paid
executive officers serving
as such at
the end of
2009 whose compensation for that fiscal year was in excess of $100,000. The
individuals named in the table will be hereinafter referred to as the “Named Officers.” No other executive
officer of Daniels Corporate Advisory received compensation in excess of $100,000 during fiscal years 2015 and
2014.
We
currently have only one executive officer. Our tables reflect the total compensation accrued for the years indicated. The amounts
consist of a base salary only for those periods. Due to operating limitations and results of operations during those periods listed
there were no performance bonuses or grants of options and or stock incentives. This does not preclude future periods from including
such amounts. There was no interest accrued on these amounts nor will we accrue interest on such amounts.
Name and Principal Position | |
Year | |
Salary ($) | | |
Bonus ($) | | |
Stock
Awards
($) | | |
Option
Awards
($) | | |
Non-Equity
Incentive
Plan
Compensation
($) | | |
Nonqualified
Deferred
Compensation
($) | | |
All Other
Compensation
($) | | |
Total ($) | |
| |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
Arthur D. Viola | |
2015 | |
| 100,000 | | |
| -0- | | |
| 980,753 | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| 1,980,753 | |
Arthur D. Viola | |
2014 | |
| 100,000 | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| 100,000 | |
Outstanding
Equity Awards at Fiscal Year-End
The
following table provides information for each of our named executive officers as of the end of our last completed fiscal years,
November 30, 2015 and November 30, 2014:
| |
Option Awards | | |
Stock Awards | |
Name | |
Number of
Securities
Underlying
Unexercised
Options (#)
Exercisable | | |
Number of
Securities
Underlying
Unexercised
Options (#)
Unexercisable | | |
Equity
Incentive
Plan Awards:
Number of
Securities
Underlying
Unexercised
Unearned
Options (#) | | |
Option
Exercise
Price ($) | | |
Option
Expiration
Date | | |
Number
of Shares
or Units
of Stock
That
Have
Not
Vested | | |
Market Value of
Shares or
Units of
Stock
That Have
Not
Vested | | |
Equity
Incentive
Plan
Awards:
Number of
Unearned
Shares,
Units or
Other Rights
That Have
Not Vested | | |
Equity
Incentive
Plan
Awards:
Market or
Payout
Value of
Unearned
Shares,
Units or
Other
Rights
That Have
Not Vested
($) | |
A. D. Viola (1) | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | |
A. D. Viola (1) | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | | |
| -0- | |
(1)
Daniels Corporate Advisory chief executive officer.
Employment
Agreements
As
of the date of this prospectus, Daniels Corporate Advisory does not have any employment agreements with its employees.
Item
12. Security Ownership of Certain Beneficial
Owners and Management and Related Stockholder Matters.
The
following table sets forth, as of November 30, 2015, the number and percentage of outstanding shares of our common stock beneficially
owned by: (a) each person who is known by us to be the beneficial owner of more than 5% of our outstanding shares of common stock;
(b) each of our directors; (c) the Named Executive Officers; and (d) all current directors and executive officers, as a group.
As of February 29, 2016 there were 518,404,664 shares of common stock issued and outstanding.
Beneficial
ownership has been determined in accordance with Rule 13d-3 under the Exchange Act. Under this rule, certain shares may be deemed
to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of
the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire shares
(for example, upon exercise of an option or warrant) within 60 days of the date as of which the information is provided. In computing
the percentage ownership of any person, the amount of shares is deemed to include the amount of shares beneficially owned by such
person by reason of such acquisition rights. As a result, the percentage of outstanding shares of any person as shown in the following
table does not necessarily reflect the person’s actual voting power at any particular date.
To
our knowledge, except as indicated in the footnotes to this table and pursuant to applicable community property laws, the persons
named in the table have sole voting and investment power with respect to all shares of common stock shown as beneficially owned
by them.
Beneficial
Ownership Table
| |
Common Stock Beneficially
Owned (2) | | |
Preferred Stock Beneficially
Owned (2) | |
Name and Address of Beneficial Owner (1) | |
| Number | | |
| Percent | | |
| Number | | |
| Percent | |
Arthur D. Viola (3) | |
| 31,185,000 | | |
| 6 | | |
| 100,000 | | |
| 100 | |
All directors and officers as a group (one person) (1) | |
| 31,185,000 | | |
| 6 | | |
| 100,000 | | |
| 100 | |
*
Less than one percent.
Unless
otherwise indicated, the address for each of these shareholders is c/o Daniels Corporate Advisory Company, Inc., Parker Towers,
104-60, Queens Boulevard, 12th Floor, Forest Hills, New York 11375. Also, unless otherwise indicated, each person named in the
table above has the sole voting and investment power with respect to his shares of our common stock beneficially owned.
Beneficial
ownership is determined in accordance with the rules of the SEC. As of February 26, 2014 there 355,001,887 shares of our common
stock issued and outstanding.
The
100,000 shares of our super voting preferred stock, as amended, owned by Arthur D. Viola gives him the power to vote 66 and
2/3 percent shares of the share vote necessary for any issue requiring a common stock vote.
As
indicated in the table above, Arthur D. Viola, our key officer and director, owns 100,000 shares of our preferred stock which
equates to 100 percent of our preferred stock. Our Super Voting preferred stock has voting rights equal to 500 shares of the our
common stock for every one share of our preferred stock held, which equates to voting rights of 50,000,000 shares of the our common
stock. The voting rights of our common stock contained in our preferred stock along with the 2,454,500 common shares will provide
Mr. Viola with voting rights equal to 27,454,500 shares of our common stock, which amount exceeds the outstanding shares of our
common stock. As a result, Arthur D. Viola is able to influence all matters requiring stockholder approval including the election
of directors, merger or consolidation and the sale of all or substantially all of our assets. This concentration of ownership
may delay, deter or prevent acts that would result in a change of control, which in turn could reduce the market price of our
common stock.
Item
13. Certain Relationships and Related
Transactions, and Director Independence.
Transactions
with Related Persons
The
Audit Committee (entire board) of our Board is responsible for oversight and review of any related person transactions. We have
no related person transactions that require disclosure under this section.
Director
Independence
The
Board has determined that Mr. Viola is independent (or similarly designated) based on the Board’s application of the standards
and rules and regulations promulgated by the SEC or the Internal Revenue Service, as appropriate.
Item
14. Principal Accountant Fees and Services.
The
following table presents the estimated aggregate fees billed by John Scrudato CPA for services performed during our last two fiscal
years.
| |
Years Ended | |
| |
December 31, | |
| |
2015 | | |
2014 | |
Audit fees(1) | |
$ | 7,000 | | |
$ | 7,000 | |
Tax fees(2) | |
| — | | |
| — | |
All other fees(3) | |
| — | | |
| — | |
| |
| | | |
| | |
| |
$ | 7,000 | | |
$ | 7,000 | |
|
(1) |
|
Audit
fees include professional services rendered for (i) the audit of our annual financial statements for the fiscal years ended
November 30, 2015 and 2014, (ii) the reviews of the financial statements included in our quarterly reports on Form 10-Q for
such years and (iii) the issuance of consents and other matters relating to registration statements filed by us. |
|
|
|
|
|
(2) |
|
There
were no tax fees billed in these two periods. |
|
|
|
|
|
(3) |
|
Other
fees include professional services for review of various filings and issuance of consents. |
PART
IV
Item
15. Exhibits and Financial Statement Schedules.
(a) |
1. |
Financial
Statements |
INDEX
TO FINANCIAL STATEMENTS
Audited
Financial Statements for years ended November 30, 2015 and November 30, 201
Report
of Independent Registered Public Accounting Firm |
F-1 |
Balance
Sheets as of November 30, 2015 and November 30, 2014 |
F-2 |
Statements
of Income and Expenses for the Years Ended November 30, 2015 and November 30, 2014. |
F-3 |
Statements
of Comprehensive Income for the Years Ended November 30, 2015 and November 30, 2014. |
F-4 |
Statement
of Changes in Stockholders Equity Expenses for the Years Ended November 30, 2015 and November 30, 2014. |
F-5 |
Statements
of Cash Flows for the Years Ended November 30, 2015 and November 30, 2014. |
F-6 |
Statements
of Cash Flows (continued) for the Years Ended November 30, 2015 and November 30, 2014. |
F-7 |
Notes
to Financial Statements |
F-8 |
Exhibit
No. |
|
Description |
|
|
|
31.1* |
|
Certification
of Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|
|
|
32.1* |
|
Certification
of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
*
Filed herewith
+
Management contract or compensatory plan or arrangement.
SIGNATURES
Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
|
DANIELS
CORPORATE ADVISORY COMPANY, INC. |
|
|
|
By: |
/s/
ARTHUR D. VIOLA |
|
|
Arthur
D. Viola |
|
|
President,
Chief Executive Officer and Acting Chief Financial Officer |
|
|
|
|
|
Date:
February 29, 2016 |
Pursuant
to the requirements of the Securities Act of 1934, this report has been signed below by the following persons on behalf of the
Registrant and in the capacity and on the dates indicated.
Signature |
|
Title |
|
Date |
|
|
|
|
|
/S/
ARTHUR D. VIOLA |
|
President
and Chief Executive Officer |
|
February
29, 2016 |
Arthur
D. Viola |
|
(Principal
Executive Officer) Acting Chief Financial Officer |
|
|
|
|
(Principal
Financial and Accounting Officer) Director |
|
|
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To
the Board of Directors
Daniels
Corporate Advisory Company, Inc.
New
York, NY
We
have audited the accompanying balance sheets of Daniels Corporate Advisory Company, Inc., as of November 30, 2015 and 2014 and
the related statements of operations, comprehensive income(loss), changes in stockholders’ equity and cash flows for the
years then ended. These financial statements are the responsibility of Daniels Corporate Advisory Company, Inc. management. Our
responsibility is to express an opinion on these financial statements based on our audits.
We
conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards
require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of
material misstatements. The Company is not required to have, nor were we engaged to perform, an audit of its internal control
over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness
of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
In
our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Daniels
Corporate Advisory Company, Inc. as of November 30, 2015 and 2014 and the results of its operations, comprehensive income(loss),
changes in stockholders’ equity and its cash flows for the years then ended in conformity with accounting principles generally
accepted in the United States of America.
The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 5, the Company has incurred significant losses since inception and has a working capital deficit. These factors raise
substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these
matters are also discussed in Note 5. The financial statements do not include any adjustments that might result from the outcome
of this uncertainty.
/s/
John Scrudato |
|
CPA Califon, |
|
New Jersey |
|
March
8, 2016
Daniels
Corporate Advisory Company, Inc.
Consolidated
Balance Sheets
| |
November 30, 2015 | |
November 30, 2014 |
| |
“Audited” | |
“Audited” |
Assets | |
| | | |
| | |
Current Assets | |
| | | |
| | |
Cash and cash equivalents | |
$ | 22,941 | | |
$ | 89,733 | |
Accounts receivable | |
| 0 | | |
| 4,530 | |
Prepaid expenses | |
| 0 | | |
| 3,136 | |
Interest receivable | |
| 0 | | |
| 2,998 | |
Note receivable | |
| 0 | | |
| 205,000 | |
Deferred taxes | |
| 0 | | |
| 79,725 | |
Deposits | |
| 27,500 | | |
| 0 | |
Investments | |
| 8,026 | | |
| 10,200 | |
| |
| | | |
| | |
Total Current Assets | |
$ | 58,467 | | |
$ | 395,322 | |
| |
| | | |
| | |
Liabilities and Equity(Deficit) | |
| | | |
| | |
| |
| | | |
| | |
Current liabilities | |
| | | |
| | |
Accounts payable and accrued expenses | |
$ | 803,959 | | |
$ | 805,363 | |
Derivative Liability | |
| 383,396 | | |
| 0 | |
Note payable net of discount $108,732 and $0 | |
| 172,896 | | |
| 0 | |
Total Current Liabilities | |
| 1,360,251 | | |
| 805,363 | |
Commitments and Contingencies (Note 6) | |
| | | |
| | |
Daniels Corporate Advisory Company, Inc.(“DCAC”) Shareholders’
Deficit | |
| | | |
| | |
Preferred Stock, $.001 par value; 100,000 shares authorized 100,000 issued
and outstanding 11/30/2015 and 11/30/2014 | |
| 100 | | |
| 100 | |
Common Stock, $001 par value; 750,000,000 shares authorized 86,462,512 and
10,791,319 shares issued and outstanding 11/30/2015 and 11/30/2014 | |
| 86,463 | | |
| 10,791 | |
Additional paid-in-capital | |
| 6,181,755 | | |
| 4,168,923 | |
Accumulated deficit | |
| (7,513,779 | ) | |
| (4,551,010 | ) |
Accumulated other comprehensive (loss) | |
| (56,323 | ) | |
| (38,845 | ) |
Total Equity(Deficit) | |
| (1,301,784 | ) | |
| (410,041 | ) |
Total liabilities and equity(Deficit) | |
$ | 58,467 | | |
$ | 395,322 | |
“The
accompanying notes are an integral part of these financial statements”
Daniels
Corporate Advisory Company, Inc.
Consolidated
Statements of Operations
| |
For the Years Ended |
| |
November 30, 2015 | |
November 30, 2014 |
| |
“Audited” | |
“Audited” |
Revenues | |
$ | 45,493 | | |
$ | 0 | |
| |
| | | |
| | |
Operating Expenses | |
| 1,983,392 | | |
| 157,996 | |
| |
| | | |
| | |
Net Income(Loss) from Operations | |
| (1,937,899 | ) | |
| (157,996 | ) |
| |
| | | |
| | |
Other Income (Expense): | |
| | | |
| | |
Impairment | |
| (340,000 | ) | |
| 0 | |
Debt Forgiveness | |
| 0 | | |
| 500,000 | |
Derivative expense | |
| (163,753 | ) | |
| 0 | |
Gain on debt retirement | |
| 108,317 | | |
| 0 | |
Interest (income) expense | |
| (272,025 | ) | |
| 2,998 | |
Derivative liability gain | |
| (55,322 | ) | |
| 0 | |
| |
| (722,783 | ) | |
| 502,998 | |
Net Income(Loss) Before | |
| | | |
| | |
Provision for Income Taxes | |
| (2,660,682 | ) | |
| 345,002 | |
| |
| | | |
| | |
Provision for income taxes | |
| 79,725 | | |
| 73,831 | |
| |
| | | |
| | |
Net Income(Loss) before discontinued operations | |
| (2,740,407 | ) | |
| 271,171 | |
| |
| | | |
| | |
Net Income Loss discontinued operations | |
| (222,362 | ) | |
| 26,728 | |
| |
| | | |
| | |
Net Income(Loss) | |
$ | (2,962,769 | ) | |
$ | 297,899 | |
| |
| | | |
| | |
Basic and Diluted Loss Per Share before discontinued
operations | |
$ | (0.08 | ) | |
$ | 0.03 | |
| |
| | | |
| | |
Basic and Diluted Loss Per Share discontinued operations | |
$ | (0.01 | ) | |
$ | 0.00 | |
| |
| | | |
| | |
Basic and Diluted Loss Per Share | |
$ | (0.08 | ) | |
$ | 0.03 | |
| |
| | | |
| | |
Weighted average number of shares outstanding | |
| 35,423,450 | | |
| 9,565,374 | |
“The
accompanying notes are an integral part of these financial statements”
Daniels
Corporate Advisory Company, Inc.
Consolidated
Statement of Comprehensive Income (Loss)
| |
For the Years Ended |
| |
November 30, 2015 | |
November 30, 2014 |
| |
“Audited” | |
“Audited” |
| |
| | | |
| | |
Net loss | |
$ | (2,962,769 | ) | |
$ | 297,899 | |
| |
| | | |
| | |
Other comprehensive income (loss) | |
| 0 | | |
| 0 | |
| |
| | | |
| | |
Unrealized gains(losses) arising during the period | |
| 17,478 | | |
| 117 | |
Comprehensive income (loss) | |
$ | (2,945,291 | ) | |
$ | 298,016 | |
“The
accompanying notes are an integral part of these financial statements”
Daniels
Corporate Advisory Company, Inc.
Consolidated
Statement of Stockholders’ Equity(Deficit)
For
the years Ended November 30, 2015 and 2014
“Audited”
| |
Preferred | |
Common | |
Contributed
Capital in
Excess of | |
Comprehensive | |
Accumulated | |
|
| |
Shares | |
Amount | |
Shares | |
Amount | |
PAR Value | |
Items | |
Deficit | |
Total |
| |
| |
| |
| |
| |
| |
| |
| |
|
Balances November 30, 2013 | |
| 100,000 | | |
$ | 100 | | |
$ | 9,891,319 | | |
$ | 9,891 | | |
$ | 3,951,824 | | |
$ | (38,962 | ) | |
$ | (4,848,909 | ) | |
| (926,056 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Shares issued as compensation | |
| | | |
| | | |
| 900,000 | | |
| 900 | | |
| 217,099 | | |
| | | |
| | | |
| 217,999 | |
Other unrealized gain(loss) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| 117 | | |
| | | |
| 117 | |
Net loss FYE 11/30/14 | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| 297,899 | | |
| 297,899 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balances November 30, 2014 | |
| 100,000 | | |
$ | 100 | | |
$ | 10,791,319 | | |
$ | 10,791 | | |
$ | 4,168,923 | | |
$ | (38,845 | ) | |
$ | (4,551,010 | ) | |
| (410,041 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Shares issued as compensation | |
| | | |
| | | |
| 54,706,970 | | |
| 54,708 | | |
| 1,819,855 | | |
| | | |
| | | |
| 1,874,563 | |
Stock exchanged for debt | |
| | | |
| | | |
| 20,964,223 | | |
| 20,964 | | |
| 71,987 | | |
| | | |
| | | |
| 92,951 | |
Other unrealized gain(loss) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| (17,478 | ) | |
| | | |
| (17,478 | ) |
Reclass of derivative liability | |
| | | |
| | | |
| | | |
| | | |
| 120,990 | | |
| | | |
| | | |
| 120,990 | |
Net loss FYE 11/30/15 | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| (2,962,769 | ) | |
| (2,962,769 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balances November 30, 2015 | |
| 100,000 | | |
$ | 100 | | |
| 86,462,512 | | |
| 86,463 | | |
$ | 6,181,755 | | |
$ | (56,323 | ) | |
$ | (7,513,779 | ) | |
$ | (1,301,784 | ) |
“The
accompanying notes are an integral part of these financial statements”
Daniels
Corporate Advisory Company, Inc.
Consolidated
Statements of Cash Flows
| |
For the Years Ended |
| |
November 30, 2015 | |
November 30, 2014 |
| |
“Audited” | |
“Audited” |
Cash flows from operating activities: | |
| | | |
| | |
Net income (loss) | |
$ | (2,962,769 | ) | |
$ | 297,899 | |
Common stock issued for services | |
| 1,874,563 | | |
| 218,000 | |
(Gain) loss on derivative liability | |
| 383,396 | | |
| 0 | |
Impairment of note receivable | |
| 340,000 | | |
| 0 | |
Realized (gain) loss on securities | |
| 17,478 | | |
| 117 | |
| |
| | | |
| | |
(Increase) decrease in prepaid expenses | |
| 3,136 | | |
| 54,013 | |
(Increase) decrease in other assets | |
| 82,723 | | |
| 106 | |
(Increase) decrease in accounts receivable | |
| 4,530 | | |
| 56,913 | |
Increase (decrease) in accounts payable and accrued
expenses | |
| 1,404 | | |
| (335,124 | ) |
Net cash used in operating activities | |
| (255,539 | ) | |
| 291,924 | |
Cash flows from investing activities: | |
| | | |
| | |
Deposits | |
| (27,500 | ) | |
| 0 | |
Investment in for sale securities | |
| (15,300 | ) | |
| 0 | |
Net cash provided(used) by investing activities | |
| (42,800 | ) | |
| 0 | |
Cash flows from financing activities: | |
| | | |
| | |
Payments on convertible notes | |
| (23,750 | ) | |
| 0 | |
Issuance of note receivable | |
| (140,000 | ) | |
| (205,000 | ) |
Proceeds from convertible notes | |
| 395,297 | | |
| 0 | |
Net cash provided(used) by financing activities | |
| 231,547 | | |
| (205,000 | ) |
| |
| | | |
| | |
Increase in cash and equivalents | |
| (66,792 | ) | |
| 86,924 | |
| |
| | | |
| | |
Cash and cash equivalents at beginning of period | |
| 89,733 | | |
| 2,809 | |
| |
| | | |
| | |
Cash and cash equivalents at end of period | |
$ | 22,941 | | |
$ | 89,733 | |
“The
accompanying notes are an integral part of these financial statements”
Daniels
Corporate Advisory Company, Inc.
Consolidated
Statements of Cash Flows
| |
For the Years Ended |
| |
November 30, 2015 | |
November 30, 2014 |
| |
“Unaudited” | |
“Unaudited” |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |
| | | |
| | |
| |
| | | |
| | |
Interest | |
$ | 0 | | |
$ | 0 | |
| |
| | | |
| | |
Income taxes | |
$ | 0 | | |
$ | 0 | |
| |
| | | |
| | |
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | |
| | | |
| | |
| |
| | | |
| | |
Unrealized gain (loss) on securities | |
$ | 17,478 | | |
$ | 117 | |
| |
| | | |
| | |
Common stock issued for compensation | |
$ | 1,874,563 | | |
$ | 218,000 | |
| |
| | | |
| | |
Debt Forgiveness | |
$ | 0 | | |
$ | 500,000 | |
| |
| | | |
| | |
Equity for debt conversions | |
$ | 92,951 | | |
$ | 0 | |
| |
| | | |
| | |
Reclassification of derivative liabilities | |
$ | 120,990 | | |
$ | 0 | |
“The
accompanying notes are an integral part of these financial statements”
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
1- ORGANIZATION AND BASIS OF PRESENTATION
Daniels
Corporate Advisory Company, Inc.(The company) was incorporated in the State of Nevada on May 2, 2002. The Company was organized
to offer: (a) corporate financial consulting and (b) merchant banking services for public and private client companies interested
in implementing Daniels developed, agreed upon, accelerated growth strategies; including MBO/LBO, Roll-up Transactions. Merchant
banking includes equity funding of the growth of client and service companies, as well as funding equity of small public companies.
The business became a subsidiary in late 2003 as a result of INfe Human Resources, Inc. (a publicly quoted Nevada Company) acquiring
the common stock of Daniels Corporate Advisory Company, Inc. During August 24010, INfe Human Resources, Inc. underwent a name
change to Rhino Human Resources, Inc., but is still public and trades under the same (original) stock symbol: “IFHR.”
The
company has a growth goal of providing advisory services to business services as well as non-business services client companies.
The company works with companies seeking to create and/or acquire adjunct service businesses, whose services will initially provide
better lifestyles for its existing workforce, and ultimately will be packaged, on an additional profit center basis, for sale
to other small companies for the retention of their employees. The profits generated from all the financial consulting assignments
will be available for venture investment in public or private client companies, as well as other quality business concept/operating
companies, both public and private; through the Daniels’ Merchant Bank Division.
The
Daniels Merchant Bank has an in-house equity funding program, whereby Daniels will participate in consulting client potential
growth by helping finance the growth of public and private client, business service companies, as well as non-business service
companies. The Merchant Bank will also participate in non-client potential growth by the purchase of equity in attractive small
public companies whose growth strategies are in line with a philosophy of growth through leveraged acquisitions.
The
Company formed on October 11, 2013 Daniel’s Logistics Inc. a wholly owned operating subsidiary in the field of logistics
was incorporated in the state of Nevada to take advantage of niche operating opportunities and possible acquisitions in the logistics
field. During the quarter ending May 31, 2015 the Company discontinued these operations until further analysis could be done on
the overall effectiveness of all Company operations.
NOTE
2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis
of Presentation:
We
have prepared the accompanying condensed consolidated financial statements in accordance with the rules and regulations of the
Securities and Exchange Commission (“SEC”) including the instructions to Form S-1 and Rule 10-01 of Regulation S-X.
Such rules and regulations allow us to condense and omit certain information and footnote disclosures normally included in financial
statements prepared in accordance with accounting principles generally accepted in the United States of America. We believe these
condensed consolidated financial statements reflect all adjustments (consisting of normal, recurring adjustments) that are necessary
for a fair presentation of our consolidated financial position and consolidated results of operations for the periods presented.
Election
to be treated as an emerging growth company:
For
the five year period starting in the first quarter of 2012, Daniels if continuing eligibility applies has elected to use the extended
transition period now available for complying with new or revised accounting standards under Section 102(b) (1). This election
allows Daniels to delay the adoption of new or revised accounting standards that have different effective dates for public and
private companies until those standards apply to private companies. As a result of the Company still being eligible, the Daniels
financial statements may not be comparable to companies that comply with public company effective dates.
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
FASB
Codification:
In
June 2009, the FASB issued ASC 105, Generally Accepted Accounting Principles, (“Codification”) effective for
interim and annual reporting periods ending after September 15, 2009. This statement establishes the Codification as the source
of authoritative accounting principles used in the preparation of financial statements in conformity with generally accepted accounting
principles. The Codification does not replace or affect guidance issued by the SEC or its staff. As a result of the Codification,
the references to authoritative accounting pronouncements included herein in this Annual Report now refer to the Codification
topic section rather than a specific accounting rule as was past practice.
Use
of Estimates:
The
preparation of financial statements in conformity with accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure
of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.
Risk
and Uncertainties:
Our
future results of operations and financial condition will be impacted by the following factors, among others: our lack of capital
resources, dependence on third-party management to operate the companies in which we invest and dependence on the successful development
and marketing of any new products in new and existing markets. Generally, we are unable to predict the future status of these
areas of risk and uncertainty. However, negative trends or conditions in these areas could have an adverse affect on our business.
Cash
and Cash Equivalents:
For
financial statement presentation purposes, short-term, highly liquid investments with original maturities of three months or less
are considered to be cash equivalents. The Company maintains its cash accounts at several financial institutions, which at times
may exceed the insurable FDIC limit, but management believes that there is little risk of loss.
Fair
Value of Financial Instruments:
In
September 2006, the Financial Accounting Standards Board (FASB) introduced a framework for measuring fair value and expanded required
disclosure about fair value measurements of assets and liabilities. The Company adopted the standard for those financial assets
and liabilities as of the beginning of the 2008 fiscal year and the impact of adoption was not significant. FASB Accounting Standards
Codification (ASC) 820 ” Fair Value Measurements and Disclosures ” (ASC 820) defines fair value as the price
that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions
developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions
about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs).
The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active
markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels
of the fair value hierarchy are described below:
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
|
Level
1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted
assets or liabilities. |
|
|
|
Level
2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability; either directly
or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or
similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the
asset or liability (e.g. interest rates); and inputs that are derived principally from or corroborated by observable market
data by correlation or other means. |
|
|
|
Level
3—Inputs that are both significant to the fair value measurement and unobservable. |
The
respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term
nature of these instruments. These financial instruments include investments in available-for-sale securities and accounts payable
and accrued expenses. The Company has also applied ASC 820 for all non-financial assets and liabilities measured at fair value
on a non-recurring basis. The adoption of ASC 820 for non-financial assets and liabilities did not have a significant impact on
the Company’s financial statements.
Investments:
Our
investments consist of common stock of publicly quoted companies and are valued based on the closing stock price. We account for
our investments in accordance with ASC Topic 320, Investments. We have designated our investments at February 28, 2013
as available-for-sale and reported these investments at fair value, with unrealized gains and losses recorded in other comprehensive
income (loss). We determined the fair value of these investments based on the closing quoted stock price on February 28, 2013.
We base the cost of the investment sold on the specific identification method using market rates.
Comprehensive
Income:
ASC
Topic 220 (SFAS No. 130) establishes standards for reporting comprehensive income and its components. Comprehensive income is
defined as the change in equity during a period from transactions and other events from non-owner sources. Per the consolidated
financial statements, the Company has purchased available-for-sale securities that are subject to this reporting.
Other-Than-Temporary
Impairment:
All
of our non-marketable and other investments are subject to a periodic impairment review. Investments are considered to be impaired
when a decline in fair value is judged to be other-than-temporary.
When
events or changes in circumstances indicate that long-lived assets other than goodwill may be impaired, an evaluation is performed
to determine if a write-down to fair value is required. When an asset is classified as held for sale, the asset’s book value
is evaluated and adjusted to the lower of its carrying amount or fair value less cost to sell. In addition, depreciation and amortization
ceases while it is classified as held for sale.
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
The
indicators that we use to identify those events and circumstances include:
|
the
investee’s revenue and earnings trends relative to predefined milestones and overall business prospects; |
|
|
|
the
general market conditions in the investee’s industry or geographic area, including regulatory or economic changes; |
|
|
|
factors
related to the investee’s ability to remain in business, such as the investee’s liquidity, debt ratios, and the
rate at which the investee is using its cash; and |
|
|
|
the
investee’s receipt of additional funding at a lower valuation. If an investee obtains additional funding at a valuation
lower than our carrying amount or a new round of equity funding is required for the investee to remain in business, and the
new round of equity does not appear imminent, it is presumed that the investment is other than temporarily impaired, unless
specific facts and circumstances indicate otherwise. |
Recently
Issued Accounting Pronouncements:
The
Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements
and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact
on its financial position or results of operations.
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Revenue
and Cost Recognition:
The
Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes
revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all
of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the
services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably
assured.
Daniels
Corporate Advisory Company, Inc., (Daniels) has revenues as a result of corporate financial consulting services which are recognized
as services are performed. Daniels also operates the merchant banking division, which did not have any revenues to recognize.
Fixed
Assets:
Fixed
assets acquired would be reported at cost less accumulated depreciation, which is generally provided on the straight-line method
over the estimated useful lives of the assets. Upon sale or retirement of an asset, the related costs and accumulated depreciation
are removed from the accounts and any gain or loss is recognized.
Financing
Fees:
Financing
fees were being amortized over the life of the related liability on the straight-line method which is not materially different
than using the effective interest method. All amortization has been expensed since the ongoing staffing operations have discontinued
from which the finance fees were originally accrued.
Net
Income (Loss) Per Share
The
Company reports basic and diluted earnings per share (EPS) according to the provisions of ASC Topic 260, which requires the presentation
of basic EPS and, for companies with complex capital structures, diluted EPS. Basic EPS excludes dilution and is computed by dividing
net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period.
Diluted EPS is computed by dividing net income (loss) available to common stockholders, adjusted by other changes in income or
loss that would result from the assumed conversion of those potential common shares, by the weighted number of common shares and
common share equivalents (unless their effect is antidilutive) outstanding. Common stock equivalents are not included in the computation
of diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive. Thus, these equivalents
are not included in the calculation of diluted loss per share, resulting in basic and diluted loss per share being equal. The
following is a reconciliation of the computation for basic and diluted EPS for the years ended November 30, 2015 and 2014:
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
| |
11/30/2015 | |
11/30/2014 |
Net (Loss) | |
$ | (2,962,769 | ) | |
$ | 297,899 | |
| |
| | | |
| | |
Weighted-average common shares outstanding basic | |
| | | |
| | |
| |
| | | |
| | |
Weighted-average common stock | |
| 35,423,450 | | |
| 9,565,374 | |
Equivalents | |
| | | |
| | |
Stock options | |
| - | | |
| - | |
Warrants | |
| - | | |
| - | |
Convertible Notes | |
| - | | |
| - | |
| |
| | | |
| | |
Weighted-average common shares outstanding- basic and diluted | |
| 35,423,450 | | |
| 9,565,374 | |
NOTE
3- RELATED PARTY TRANSACTIONS
The
Company currently rents space from Arthur Viola, CEO and shareholder. This is a month to month rental and there is no commitment
beyond each month. The monthly rent is $2,025 and three months was expensed in the quarter ending August 31, 2015. Arthur Viola
was also compensated through stock issuance in the quarter 9,850,000 shares valued at $209,705.
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
4- INVESTMENTS
Investments
consist of a portfolio of common stocks trading on the OTC: BB. The fair market values of the investments held for sale were $191
and $195 at November 30, 2015 and November 30, 2014, respectively. Due to the immaterial amounts and that they are liquid they
have been classified as cash equivalents. Investments held as other assets as long term investments had fair market values of
$8,026 and $10,200 at November 30, 2015 and November 30, 2014, respectively. Other assets are securities of the Company’s
clients for long term capital appreciation. The total net unrealized loss for the period ended November 30, 2015 was $17,478 and
the total net realized gain for the period ended November 30, 2014 was $117.
Cash
Equivalents are marketable securities that are available-for-sale and not deemed long term investments by the Company. During
the periods ended November 30, 2015 and 2014, there were no available-for-sale securities sold and gross realized (losses) gains
on these sales were zero. For purpose of determining gross realized gains, the cost of securities when sold is based on the FIFO
method of valuation. Net unrealized holding gains (losses) on available-for-sale securities both in cash and investments was $(56,323)
and $(38,845), respectively, for November 30, 2015 and November 30, 2014 and have been included in accumulated other comprehensive
income.
NOTE
5- GOING CONCERN
The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Currently, the
Company has recurring operating losses, and as of November 30, 2015 the Company had a working capital deficit and an accumulated
deficit. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management believes
that the Company’s capital requirements will depend on many factors including the success of the Company’s development
efforts and its efforts to raise capital. Management also believes the Company needs to raise additional capital for working capital
purposes. There is no assurance that such financing will be available in the future. The conditions described above raise substantial
doubt about our ability to continue as a going concern. The financial statements of the Company do not include any adjustments
relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might
be necessary should the Company be unable to continue as a going concern.
NOTE
6- COMMITMENTS AND CONTINGENCIES
Commitments:
The
Company currently has no long term commitments.
Contingencies:
None
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
7- INCOME TAXES
As
of November 30, 2015, the Company had approximately $7,500,000 in net operating loss carry forwards for federal income tax purposes
which expire between 2016 and 2032. Generally, these can be carried forward and applied against future taxable income at the tax
rate applicable at that time. We are currently using a 35% effective tax rate for our projected available net operating loss carry-forward.
However, as a result of potential stock offerings and stock issuance in connection with potential acquisitions, as well as the
possibility of the Company not realizing its business plan objectives and having future taxable income to offset, the Company’s
use of these NOLs may be limited under the provisions of Section 382 of the Internal Revenue Code of 1986, as amended. The Company
is in the process of evaluating the implications of Section 382 on its ability to utilize some or all of its NOLs.
Components
of deferred tax assets and (liabilities) are as follows:
| |
30-Nov-15 | |
30-Nov-14 |
Net operating loss carry forwards valuation available | |
$ | 7,513,779 | | |
$ | 4,555,010 | |
| |
| | | |
| | |
Valuation Allowances | |
| 7,491,918 | | |
| 4,320,525 | |
Deferred Tax Asset | |
$ | 7,433 | | |
$ | 79,725 | |
The
effective tax rate is as follows:
Statutory Federal Rate | |
| 34 | % |
Effect of Valuation Allowance | |
| (34 | %) |
Effective Rate | |
| 0 | % |
In
accordance with FASB ASC 740 “Income Taxes”, valuation allowances are provided against deferred tax assets, if based
on the weight of available evidence, some or all of the deferred tax assets may or will not be realized. The Company has evaluated
its ability to realize some or all of the deferred tax assets on its balance sheet and has established a valuation allowance in
the amount of the full NOL at November 30, 2015. The Company did not utilize any NOL deductions for the full fiscal year ended
November 30, 2015.
NOTE
8 - NOTES PAYABLE
Other
than as described below, there were no issuances of securities without registration under the Securities Act of 1933 during the
reporting period which were not previously included in our previous form 10K.
On
February 23, 2015, the Company entered in convertible note agreement with a private and accredited investor, LG Capital, in the
amount of $37,500, unsecured, with principal and interest(stated at 8%) amounts due and payable upon maturity on August 13, 2015.
After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s
common shares at any time. The Company has determined that the conversion feature in this note is not indexed to the Company’s
stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion
feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend
rate of 0%; and, historical volatility rates ranging from 195% to 236%. This note was paid off as of August 31, 2015.
On
April 28, 2015, the Company entered in convertible note agreement with a private and accredited investor, KBM Capital, in the
amount of $69,000, unsecured, with principal and interest(stated at 8%) amounts due and payable upon maturity on October 28, 2015.
After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s
common shares at any time. The Company has determined that the conversion feature in this note is not indexed to the Company’s
stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion
feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend
rate of 0%; and, historical volatility rates ranging from 195% to 236%. As of November 30, 2015 the note balance was $24,000.
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
8 - NOTES PAYABLE (CONTINUED)
On
April 28, 2015, the Company entered in convertible note agreement with a private and accredited investor, JMJ Capital, in the
amount of $16,500, unsecured, with principal and interest(stated at 12%) amounts due and payable upon maturity on October 28,
2017. After twenty four months, the note holder has the option to convert any portion of the unpaid principal balance into the
Company’s common shares at any time. The Company has determined that the conversion feature in this note is not indexed
to the Company’s stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair
value of this conversion feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging
from .03% to .08%; Dividend rate of 0%; and, historical volatility rates ranging from 195% to 236%. This note was paid off as
of August 31, 2015.
On
May 5, 2015, the Company entered in convertible note agreement with a private and accredited investor, LG Capital, in the amount
of $26,150, unsecured, with principal and interest(stated at 12%) amounts due and payable upon maturity on November 5, 2017. After
twenty four months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s
common shares at any time. The Company has determined that the conversion feature in this note is not indexed to the Company’s
stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion
feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend
rate of 0%; and, historical volatility rates ranging from 195% to 236%. The unconverted balance was transferred to Essex Capital
as of November 30, 2015.
On
May 14, 2015, the Company entered in convertible note agreement with a private and accredited investor, KBM Capital, in the amount
of $50,000, unsecured, with principal and interest(stated at 8%) amounts due and payable upon maturity on November 14, 2015. After
six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s common
shares at any time. The Company has determined that the conversion feature in this note is not indexed to the Company’s
stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion
feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend
rate of 0%; and, historical volatility rates ranging from 195% to 236%. As of November 30, 2015 the note balance was $50,000 and
the unamortized discount was $29,620 fully amortized.
On
May 15, 2015, the Company entered in convertible note agreement with a private and accredited investor, Actus Capital, in the
amount of $55,000, unsecured, with principal and interest(stated at 10%) amounts due and payable upon maturity on February 15,
2016. After nine months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s
common shares at any time. The Company has determined that the conversion feature in this note is not indexed to the Company’s
stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion
feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend
rate of 0%; and, historical volatility rates ranging from 195% to 236%. As of November 30, 2015 the note balance was $35,828 fully
amortized.
On
August 18, 2015, the Company entered in convertible note agreement with a private and accredited investor, VIS VIRES Group, in
the amount of $26,000, unsecured, with principal and interest (stated at 8%) amounts due and payable upon maturity on February
14, 2016. After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s
common shares at any time. The Company has determined that the conversion feature in this note is not indexed to the Company’s
stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion
feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend
rate of 0%; and, historical volatility rates ranging from 195% to 236%. As of November 30, 2015 the note balance was $26,000 and
the unamortized discount was $10,833.
On
August 27, 2015, the Company entered in convertible note agreement with a private and accredited investor, JMJ Capital, in the
amount of $25,000, unsecured, with principal and interest(stated at 8%) amounts due and payable upon maturity on August 27, 2017.
After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s
common shares at any time. The Company has determined that the conversion feature in this note is not indexed to the Company’s
stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion
feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend
rate of 0%; and, historical volatility rates ranging from 195% to 236%. As of November 30, 2015 the note balance was $23,750 and
the unamortized discount was $11,875.
On
August 31, 2015, the Company entered in convertible note agreement with a private and accredited investor, LG Capital, in the
amount of $75,000, unsecured, with principal and interest(stated at 8%) amounts due and payable upon maturity on February 28,
2016. After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s
common shares at any time. The Company has determined that the conversion feature in this note is not indexed to the Company’s
stock, and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion
feature using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend
rate of 0%; and, historical volatility rates ranging from 195% to 236%. As of May 31, 2015 the note balance was $71,250 and the
unamortized discount was $35,625.
On
September 16, 2015, the Company entered in convertible note agreement with a private and accredited investor, Essex Capital LLC,
in the amount of $50,800, unsecured, with principal and interest(stated at 8%) amounts due and payable upon maturity on March
16, 2016. After six months, the note holder has the option to convert any portion of the unpaid principal balance into the Company’s
common shares at any time. $37,500 of this principal was from our original April 28, 2015 note with LG Capital and the rest was
cash infusion. The Company has determined that the conversion feature in this note is not indexed to the Company’s stock,
and is considered to be a derivative that requires bifurcation. The Company calculated the fair value of this conversion feature
using the Black-Scholes model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate
of 0%; and, historical volatility rates ranging from 195% to 236%. As of November 30, 2015 the note balance was $50,800 and the
unamortized discount was $19,250.
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
9- DERIVATIVE LIABILITIES
The
Company accounts for derivative financial instruments in accordance with ASC 815, which requires that all derivative financial
instruments be recorded in the balance sheets either as assets or liabilities at fair value.
The
Company’s derivative liability is an embedded derivative associated with one of the Company’s convertible promissory
notes. The convertible promissory notes were issued at various times but with similar terms and are therefore being termed as
one instrument for this footnote, (the “Note”), is a hybrid instruments which contain an embedded derivative feature
which would individually warrant separate accounting as a derivative instrument under Paragraph 815-10-05-4. The embedded derivative
feature includes the conversion feature to the Note. Pursuant to Paragraph 815-10-05-4, the value of the embedded derivative liability
have been bifurcated from the debt host contract and recorded as a derivative liability resulting in a reduction of the initial
carrying amount (as unamortized discount) of the notes, which are amortized as debt discount to be presented in other (income)
expenses in the statements of operations using the effective interest method over the life of the notes.
The
embedded derivative within the note have been valued using the Black Scholes approach, recorded at fair value at the date of issuance;
and marked-to-market at each reporting period end date with changes in fair value recorded in the Company’s statements of
operations as “change in the fair value of derivative instrument”.
As
of November 30, 2015 and November 30, 2014, the estimated fair value of derivative liability was determined to be $383,396 and
$0, respectively. During the year to date net additional derivative liabilities of $559,708 were recognized with a debt discount
of $395,955. During the year ended November 30, 2015, amortization of $272,025 was recorded against the note discounts. The change
in the fair value of derivative liabilities for the year ended November 30, 2015 was $55,322 resulting in an aggregate loss on
derivative liabilities.
Summary
of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis
Financial
assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed ay November 30, 2014:
| |
| | | |
| Fair
Value Measurement Using |
| |
| Carrying
Value | | |
| Level
1 | | |
| Level
2 | | |
| Level
3 | | |
| Total | |
Derivative liabilities on conversion feature | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
Total derivative liabilities | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
Summary
of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis
Financial
assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed November 30, 2015:
| |
| | |
Fair Value Measurement Using | |
| |
Carrying Value | | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
Derivative liabilities on conversion feature | |
| 383,396 | | |
| - | | |
| - | | |
| 383,396 | | |
| 383,396 | |
Total derivative liabilities | |
$ | 383,396 | | |
$ | - | | |
$ | - | | |
$ | 383,396 | | |
$ | 383,396 | |
DANIELS
CORPORATE ADVISORY COMPANY, INC.
NOTES
TO FINANCIAL STATEMENTS AS OF NOVEMBER 30, 2015 AND NOVEMBER 30, 2014
NOTE
9- DERIVATIVE LIABILITIES (CONTINUED)
Summary
of the Changes in Fair Value of Level 3 Financial Liabilities
The
table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and
liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended
November 30, 2015:
| |
Derivative Liability |
Fair value, December 1, 2014 | |
$ | 0 | |
Additions | |
| 559,708 | |
Conversions on derivative extinguishment | |
| (120,990 | ) |
Change in fair value | |
| | |
Transfers in and/or out of Level 3 | |
| (55,322 | ) |
Fair value, November 30, 2015 | |
$ | 383,396 | |
NOTE
10- NOTE RECEIVABLE
The
Company has advanced funds to Companies in the logistics field in a dual effort to earn higher returns on idle funds and to help
clients expand their businesses which increases our customer base. This is an unsecured demand note with a stated interest rate
of 8%. The balance was $315,000 at August 31, 2015. The entire balance was impaired as management deemed this uncollectible at
November 30, 2015.
NOTE
11- LEGAL PROCEEDINGS
On
May 29, 2015, we were notified that Lazarus Logistics and Consultants Corp. threatened to file a lawsuit against us alleging breach
of contract, with a request for specific performance, breach of contract on a loan agreement. A settlement has been negotiated
as of the date of this report.
We
are not engaged in any other litigation at the present time, and management is unaware of any claims or complaints that could
result in future litigation. Management will seek to minimize disputes with its customers but recognizes the inevitability of
legal action in today’s business environment as an unfortunate price of conducting business.
NOTE
12- DISCONTINUED OPERATIONS
During
the quarter our capital and human resource efforts to build the Daniels Logistics subsidiary have been limited due to ongoing
negotiations with independent contractors and the fact that we recognized and are committing capital and human resources to the
Food & Beverage Industry niches, those with the potential for significantly higher rates of return on human and financial
capital than currently available in Logistics. We have not ruled out re-entry into Logistics during the current fiscal year.
For
comparative purposes results from our logistics segment has been reclassified into discontinued operation for this and prior periods.
The company is continuing to compile all of the results of these activities but feels the net number presented is reasonable for
these financial statements.
NOTE-
13 SUBSEQUENT EVENTS
None
as of the date of this filing.
EXHIBIT
31.1
CERTIFICATION
PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT
I,
Arthur D. Viola, certify that:
1. |
I
have reviewed this Annual Report on Form 10-K of Daniels Corporate Advisory Company, Inc.; |
|
|
2. |
Based
on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect
to the period covered by this report; |
|
|
3. |
Based
on my knowledge, the financial statements, and other financial information included in this report, fairly present in all
material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods
presented in this report; |
|
|
4. |
The
registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as
defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
|
a. |
Designed
such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to
us by others within those entities, particularly during the period in which this report is being prepared; |
|
|
|
|
b. |
Designed
such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted accounting principles; |
|
|
|
|
c. |
Evaluated
the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based
on such evaluation; and |
|
|
|
|
d. |
Disclosed
in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s
fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal
control over financial reporting; and |
5. |
The
registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors
(or persons performing the equivalent functions): |
|
a. |
All
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial
information; and |
|
|
|
|
b. |
Any
fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s
internal control over financial reporting. |
Date:
February 29, 2016 |
By: |
/s/
Arthur D. Viola |
|
|
Arthur
D. Viola |
|
|
President,
Chief Executive Officer and |
|
|
Acting
Chief Financial Officer |
EXHIBIT
32.1
CERTIFICATION
PURSUANT TO 18 U.S.C. SECTION 1350,
AS
ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In
connection with the Annual Report of Daniels Corporate Advisory Company, Inc. (the “Company”) on Form 10-K for the
period ending November 30, 2015, (the “Report”), as filed with the Securities and Exchange Commission on the date
hereof, I, Arthur D. Viola, President, Chief Executive Officer and Acting Chief Financial Officer of the Company, certify, pursuant
to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:
1. |
The
Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
|
|
2. |
The
information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
of the Company. |
Date:
February 29, 2016 |
By: |
/s/
Arthur D. Viola |
|
|
Arthur
D. Viola |
|
|
President
and Chief Executive Officer |
|
|
(Principal
Executive Officer) Acting Chief Financial Officer (Principal Financial and Accounting Officer) |
v3.3.1.900
X |
- DefinitionIf the value is true, then the document is an amendment to previously-filed/accepted document.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
+ References
+ Details
Name: |
dei_CurrentFiscalYearEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gMonthDayItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.
+ References
+ Details
Name: |
dei_DocumentFiscalPeriodFocus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fiscalPeriodItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
+ References
+ Details
Name: |
dei_DocumentFiscalYearFocus |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gYearItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
+ References
+ Details
Name: |
dei_EntityCommonStockSharesOutstanding |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionIndicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
+ Details
Name: |
dei_EntityCurrentReportingStatus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
+ Details
Name: |
dei_EntityFilerCategory |
Namespace Prefix: |
dei_ |
Data Type: |
dei:filerCategoryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionState aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.
+ References
+ Details
Name: |
dei_EntityPublicFloat |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
+ References
+ Details
Name: |
dei_EntityVoluntaryFilers |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.
+ References
+ Details
Name: |
dei_EntityWellKnownSeasonedIssuer |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Consolidated Balance Sheets - USD ($)
|
Nov. 30, 2015 |
Nov. 30, 2014 |
Current Assets |
|
|
Cash and cash equivalents |
$ 22,941
|
$ 89,733
|
Accounts receivable |
0
|
4,530
|
Prepaid expenses |
0
|
3,136
|
Interest receivable |
0
|
2,998
|
Note receivable |
0
|
205,000
|
Deferred taxes |
0
|
79,725
|
Deposits |
27,500
|
0
|
Investments |
8,026
|
10,200
|
Total Current Assets |
58,467
|
395,322
|
Current liabilities |
|
|
Accounts payable and accrued expenses |
803,959
|
805,363
|
Derivative Liability |
383,396
|
0
|
Note payable net of discount $108,732 and $0 |
172,896
|
0
|
Total Current Liabilities |
1,360,251
|
805,363
|
Daniels Corporate Advisory Company, Inc.("DCAC") Shareholders' Deficit |
|
|
Preferred Stock, $.001 par value; 100,000 shares authorized 100,000 issued and outstanding 11/30/2015 and 11/30/2014 |
100
|
100
|
Common Stock, $001 par value; 750,000,000 shares authorized 86,462,512 and 10,791,319 shares issued and outstanding 11/30/2015 and 11/30/2014 |
86,463
|
10,791
|
Additional paid-in-capital |
6,181,755
|
4,168,923
|
Accumulated deficit |
(7,513,779)
|
(4,551,010)
|
Accumulated other comprehensive (loss) |
(56,323)
|
(38,845)
|
Total Equity(Deficit) |
(1,301,784)
|
(410,041)
|
Total liabilities and equity(Deficit) |
$ 58,467
|
$ 395,322
|
X |
- DefinitionSum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3-4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3 -Subparagraph a(1) -Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 4 -Article 5
+ Details
Name: |
us-gaap_AccountsReceivableNetCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAccumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669686-108580
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
+ Details
Name: |
us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionExcess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.30(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5
+ Details
Name: |
us-gaap_AdditionalPaidInCapital |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.9) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6801-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
+ Details
Name: |
us-gaap_AssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_AssetsCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3044-108585
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e31917-109318
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e31931-109318
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e31928-109318
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 45 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e31958-109318
+ Details
Name: |
us-gaap_DeferredTaxAssetsNetCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionCarrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment within one year or during the operating cycle, if shorter.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_DepositsAssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionFair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Current Liabilities -URI http://asc.fasb.org/extlink&oid=6509677
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41228-113958
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41271-113958
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13495-108611
+ Details
Name: |
us-gaap_DerivativeLiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionCarrying amount as of the balance sheet date of current interest earned but not received. Also called accrued interest or accrued interest receivable. For classified balance sheets, represents the current amount receivable, that is amounts expected to be collected within one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.8) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_InterestReceivableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all investments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(h)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910
+ Details
Name: |
us-gaap_Investments |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.32) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 25 -Article 7
+ Details
Name: |
us-gaap_LiabilitiesAndStockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionTotal obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.21) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_LiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_LiabilitiesCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionSum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_NotesPayableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionNet amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_NotesReceivableNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6787-107765
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 340 -SubTopic 10 -Section 05 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=51662447&loc=d3e5879-108316
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Current Assets -URI http://asc.fasb.org/extlink&oid=6509628
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
+ Details
Name: |
us-gaap_PrepaidExpenseCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe cumulative amount of the reporting entity's undistributed earnings or deficit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.31(a)(3)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
+ Details
Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionTotal of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Consolidated Balance Sheets (Parenthetical) - USD ($)
|
Nov. 30, 2015 |
Nov. 30, 2014 |
Statement of Financial Position [Abstract] |
|
|
Discount of note payable |
$ 108,732
|
$ 0
|
Preferred stock, par value |
$ .001
|
$ .001
|
Preferred stock, shares authorized |
100,000
|
100,000
|
Preferred stock, shares issued |
100,000
|
100,000
|
Preferred stock, shares outstanding |
100,000
|
100,000
|
Common stock, par value |
$ 0.001
|
$ 0.001
|
Common stock, shares authorized |
750,000,000
|
750,000,000
|
Common stock, shares issued |
86,462,512
|
10,791,319
|
Common stock, shares outstanding |
86,462,512
|
10,791,319
|
X |
- DefinitionFace amount or stated value per share of common stock.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400
+ Details
Name: |
us-gaap_DebtInstrumentUnamortizedDiscount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StatementOfFinancialPositionAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Consolidated Statements of Operations - USD ($)
|
12 Months Ended |
Nov. 30, 2015 |
Nov. 30, 2014 |
Consolidated Statements Of Operations |
|
|
Revenues |
$ 45,493
|
$ 0
|
Operating Expenses |
1,983,392
|
157,996
|
Net Income(Loss) from Operations |
(1,937,899)
|
(157,996)
|
Other Income (Expense): |
|
|
Impairment |
(340,000)
|
0
|
Debt Forgiveness |
0
|
500,000
|
Derivative expense |
(163,753)
|
0
|
Gain on debt retirement |
108,317
|
0
|
Interest (income) expense |
(272,025)
|
2,998
|
Derivative liability gain |
(55,322)
|
0
|
Total Other Income (Expense) |
(722,783)
|
502,998
|
Net Income(Loss) Before Provision for Income Taxes |
(2,660,682)
|
345,002
|
Provision for income taxes |
79,725
|
73,831
|
Net Income(Loss) before discontinued operations |
(2,740,407)
|
271,171
|
Net Income Loss discontinued operations |
(222,362)
|
26,728
|
Net Income(Loss) |
$ (2,962,769)
|
$ 297,899
|
Basic and Diluted Loss Per Share before discontinued operations |
$ (0.08)
|
$ 0.03
|
Basic and Diluted Loss Per Share discontinued operations |
(0.01)
|
0.00
|
Basic and Diluted Loss Per Share |
$ (0.08)
|
$ 0.03
|
Weighted average number of shares outstanding |
35,423,450
|
9,565,374
|
X |
- References
+ Details
Name: |
DCAC_ConsolidatedStatementsOfOperationsAbstract |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionImpairment of note receivable.
+ References
+ Details
Name: |
DCAC_ImpairmentOfNoteReceivable |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionDecrease for amounts of indebtedness forgiven by the holder of the debt instrument.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
+ Details
Name: |
us-gaap_DebtInstrumentDecreaseForgiveness |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of increase in the fair value of derivatives recognized in the income statement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a),(c),(d),(e) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959
+ Details
Name: |
us-gaap_DerivativeGainOnDerivative |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ References
+ Details
Name: |
us-gaap_EarningsPerShareBasicAndDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of gain (loss) from the difference between the repurchase price of a debt instrument initially issued by the entity and the net carrying amount of the debt at the time of its repurchase.
+ References
+ Details
Name: |
us-gaap_GainLossOnRepurchaseOfDebtInstrument |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.
+ References
+ Details
Name: |
us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3B -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721525-107759
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721523-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e957-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51716988&loc=d3e1012-107759
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=51664549&loc=SL4569616-111683
+ Details
Name: |
us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionPer basic and diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation, when the per share amount is the same.
+ References
+ Details
Name: |
us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe net amount of operating interest income (expense).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.10) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882
+ Details
Name: |
us-gaap_InterestIncomeExpenseNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionGenerally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
+ References
+ Details
Name: |
us-gaap_OperatingExpenses |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe net result for the period of deducting operating expenses from operating revenues.
+ References
+ Details
Name: |
us-gaap_OperatingIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_OtherNonoperatingIncomeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OtherNonoperatingIncomeExpenseAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_Revenues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAverage number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).
+ References
+ Details
Name: |
us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
X |
- References
+ Details
Name: |
DCAC_ConsolidatedStatementOfComprehensiveIncomeLossAbstract |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831223
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e557-108580
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
+ Details
Name: |
us-gaap_ComprehensiveIncomeNetOfTax |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of tax expense (benefit) allocated to other comprehensive income (loss).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 20 -Section 45 -Paragraph 11 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=18498875&loc=d3e39076-109324
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
+ Details
Name: |
us-gaap_OtherComprehensiveIncomeLossTax |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe net change in the difference between the fair value and the carrying value, or in the comparative fair values, of investments, not including unrealized gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, held at each balance sheet date and included in earnings for the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_UnrealizedGainLossOnInvestments |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.3.1.900
Consolidated Statement of Stockholders' Equity (Deficit) - USD ($)
|
Preferred Stock [Member] |
Common Stock [Member] |
Contributed Capital in Excess of PAR Value [Member] |
Comprehensive Items [Member] |
Accumulated Deficit [Member] |
Total |
Balance at Nov. 30, 2013 |
$ 100
|
$ 9,891
|
$ 3,951,824
|
$ (38,962)
|
$ (4,848,909)
|
$ (926,056)
|
Balance, shares at Nov. 30, 2013 |
100,000
|
9,891,319
|
|
|
|
|
Shares issued as compensation |
|
$ 900
|
217,099
|
|
|
217,999
|
Shares issued as compensation, shares |
|
900,000
|
|
|
|
|
Other unrealized gain(loss) |
|
|
|
117
|
|
117
|
Stock exchanged for debt |
|
|
|
|
|
0
|
Reclass of derivative liability |
|
|
|
|
|
0
|
Net loss |
|
|
|
|
297,899
|
297,899
|
Balance at Nov. 30, 2014 |
$ 100
|
$ 10,791
|
4,168,923
|
(38,845)
|
(4,551,010)
|
(410,041)
|
Balance, shares at Nov. 30, 2014 |
100,000
|
10,791,319
|
|
|
|
|
Shares issued as compensation |
|
$ 54,708
|
1,819,855
|
|
|
1,874,563
|
Shares issued as compensation, shares |
|
54,706,970
|
|
|
|
|
Other unrealized gain(loss) |
|
|
|
(17,478)
|
|
(17,478)
|
Stock exchanged for debt |
|
$ 20,964
|
71,987
|
|
|
92,951
|
Stock exchanged for debt, shares |
|
20,964,223
|
|
|
|
|
Reclass of derivative liability |
|
|
120,990
|
|
|
120,990
|
Net loss |
|
|
|
|
(2,962,769)
|
(2,962,769)
|
Balance at Nov. 30, 2015 |
$ 100
|
$ 86,463
|
$ 6,181,755
|
$ (56,323)
|
$ (7,513,779)
|
$ (1,301,784)
|
Balance, shares at Nov. 30, 2015 |
100,000
|
86,462,512
|
|
|
|
|
X |
- DefinitionReclass of derivative liability.
+ References
+ Details
Name: |
DCAC_ReclassificationsOfDerivativeLiability |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586
+ Details
Name: |
us-gaap_DebtConversionConvertedInstrumentAmount1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586
+ Details
Name: |
us-gaap_DebtConversionConvertedInstrumentSharesIssued1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount before tax, after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 20 -Section 35 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6939497&loc=d3e30304-110892
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -Subparagraph (b,d) -URI http://asc.fasb.org/extlink&oid=6915805&loc=d3e32211-110900
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 10A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669646-108580
+ Details
Name: |
us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares issued which are neither cancelled nor held in the treasury.
+ References
+ Details
Name: |
us-gaap_SharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionGross number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP). Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.
+ References
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionGross value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP). Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.
+ References
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodValueShareBasedCompensationGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionTotal of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_ComprehensiveIncomeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Nov. 30, 2015 |
Nov. 30, 2014 |
Cash flows from operating activities: |
|
|
Net income (loss) |
$ (2,962,769)
|
$ 297,899
|
Common stock issued for services |
1,874,563
|
218,000
|
(Gain) loss on derivative liability |
383,396
|
0
|
Impairment of note receivable |
340,000
|
0
|
Realized (gain) loss on securities |
17,478
|
117
|
(Increase) decrease in prepaid expenses |
3,136
|
54,013
|
(Increase) decrease in other assets |
82,723
|
106
|
(Increase) decrease in accounts receivable |
4,530
|
56,913
|
Increase (decrease) in accounts payable and accrued expenses |
1,404
|
(335,124)
|
Net cash used in operating activities |
(255,539)
|
291,924
|
Cash flows from investing activities: |
|
|
Deposits |
(27,500)
|
0
|
Investment in for sale securities |
(15,300)
|
0
|
Net cash provided(used) by investing activities |
(42,800)
|
0
|
Cash flows from financing activities: |
|
|
Payments on convertible notes |
(23,750)
|
0
|
Issuance of note receivable |
(140,000)
|
(205,000)
|
Proceeds from convertible notes |
395,297
|
0
|
Net cash provided(used) by financing activities |
231,547
|
(205,000)
|
Increase in cash and equivalents |
(66,792)
|
86,924
|
Cash and cash equivalents at beginning of period |
89,733
|
2,809
|
Cash and cash equivalents at end of period |
22,941
|
89,733
|
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: |
|
|
Interest |
0
|
0
|
Income taxes |
0
|
0
|
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
Unrealized gain (loss) on securities |
17,478
|
117
|
Common stock issued for compensation |
1,874,563
|
218,000
|
Debt Forgiveness |
0
|
500,000
|
Equity for debt conversions |
92,951
|
0
|
Reclassification of derivative liabilities |
$ 120,990
|
$ 0
|
X |
- DefinitionImpairment of note receivable.
+ References
+ Details
Name: |
DCAC_ImpairmentOfNoteReceivable |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionReclass of derivative liability.
+ References
+ Details
Name: |
DCAC_ReclassificationsOfDerivativeLiability |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3044-108585
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 230 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49171198&loc=d3e33268-110906
+ Details
Name: |
us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586
+ Details
Name: |
us-gaap_DebtConversionConvertedInstrumentAmount1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionDecrease for amounts of indebtedness forgiven by the holder of the debt instrument.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
+ Details
Name: |
us-gaap_DebtInstrumentDecreaseForgiveness |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of increase (decrease) in the fair value of derivatives recognized in the income statement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a),(c),(d),(e) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959
+ Details
Name: |
us-gaap_DerivativeGainLossOnDerivativeNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsReceivable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe net cash inflow or outflow for the increase (decrease) in the beginning and end of period deposits balances.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 230 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6477933&loc=d3e60009-112784
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3095-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInDeposits |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in other current operating assets not separately disclosed in the statement of cash flows.
+ References
+ Details
Name: |
us-gaap_IncreaseDecreaseInOtherCurrentAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInPrepaidExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of cash paid for interest during the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585
+ Details
Name: |
us-gaap_InterestPaid |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3255-108585
+ Details
Name: |
us-gaap_ProceedsFromConvertibleDebt |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow associated with the proceeds from sale of notes receivable, as well as principal collections from a borrowing supported by a written promise to pay an obligation (note receivable).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3179-108585
+ Details
Name: |
us-gaap_ProceedsFromSaleAndCollectionOfNotesReceivable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow associated with the sale, maturity and collection of all investments such as debt, security and so forth during the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3179-108585
+ Details
Name: |
us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe net realized gains or losses on investments during the period, not including gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.3(a)) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 325 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6485959&loc=d3e22529-158502
+ Details
Name: |
us-gaap_RealizedInvestmentGainsLosses |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow from the repayment of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3291-108585
+ Details
Name: |
us-gaap_RepaymentsOfConvertibleDebt |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_ShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe fair value of stock issued in noncash financing activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586
+ Details
Name: |
us-gaap_StockIssued1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of unrealized gain (loss) recognized in the income statement on unsold other securities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_UnrealizedGainLossOnSecurities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.3.1.900
Organization and Basis of Presentation
|
12 Months Ended |
Nov. 30, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
Organization and Basis of Presentation |
NOTE 1- ORGANIZATION AND BASIS OF PRESENTATION
Daniels Corporate Advisory
Company, Inc.(The company) was incorporated in the State of Nevada on May 2, 2002. The Company was organized to offer: (a) corporate
financial consulting and (b) merchant banking services for public and private client companies interested in implementing Daniels
developed, agreed upon, accelerated growth strategies; including MBO/LBO, Roll-up Transactions. Merchant banking includes equity
funding of the growth of client and service companies, as well as funding equity of small public companies. The business became
a subsidiary in late 2003 as a result of INfe Human Resources, Inc. (a publicly quoted Nevada Company) acquiring the common stock
of Daniels Corporate Advisory Company, Inc. During August 24010, INfe Human Resources, Inc. underwent a name change to Rhino Human
Resources, Inc., but is still public and trades under the same (original) stock symbol: IFHR.
The company has a growth
goal of providing advisory services to business services as well as non-business services client companies. The company works with
companies seeking to create and/or acquire adjunct service businesses, whose services will initially provide better lifestyles
for its existing workforce, and ultimately will be packaged, on an additional profit center basis, for sale to other small companies
for the retention of their employees. The profits generated from all the financial consulting assignments will be available for
venture investment in public or private client companies, as well as other quality business concept/operating companies, both public
and private; through the Daniels Merchant Bank Division.
The Daniels Merchant Bank
has an in-house equity funding program, whereby Daniels will participate in consulting client potential growth by helping finance
the growth of public and private client, business service companies, as well as non-business service companies. The Merchant Bank
will also participate in non-client potential growth by the purchase of equity in attractive small public companies whose growth
strategies are in line with a philosophy of growth through leveraged acquisitions.
The Company formed on
October 11, 2013 Daniels Logistics Inc. a wholly owned operating subsidiary in the field of logistics was incorporated
in the state of Nevada to take advantage of niche operating opportunities and possible acquisitions in the logistics field. During
the quarter ending May 31, 2015 the Company discontinued these operations until further analysis could be done on the overall
effectiveness of all Company operations.
|
X |
- DefinitionThe entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
+ References
+ Details
Name: |
us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Summary of Significant Accounting Policies
|
12 Months Ended |
Nov. 30, 2015 |
Accounting Policies [Abstract] |
|
Summary of Significant Accounting Policies |
NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation:
We have prepared the accompanying
condensed consolidated financial statements in accordance with the rules and regulations of the Securities and Exchange Commission
(SEC) including the instructions to Form S-1 and Rule 10-01 of Regulation S-X. Such rules and regulations allow us
to condense and omit certain information and footnote disclosures normally included in financial statements prepared in accordance
with accounting principles generally accepted in the United States of America. We believe these condensed consolidated financial
statements reflect all adjustments (consisting of normal, recurring adjustments) that are necessary for a fair presentation of
our consolidated financial position and consolidated results of operations for the periods presented.
Election to be treated as an emerging growth company:
For the five year period
starting in the first quarter of 2012, Daniels if continuing eligibility applies has elected to use the extended transition period
now available for complying with new or revised accounting standards under Section 102(b) (1). This election allows Daniels to
delay the adoption of new or revised accounting standards that have different effective dates for public and private companies
until those standards apply to private companies. As a result of the Company still being eligible, the Daniels financial statements
may not be comparable to companies that comply with public company effective dates.
FASB Codification:
In June 2009, the FASB
issued ASC 105, Generally Accepted Accounting Principles, (Codification) effective for interim and annual
reporting periods ending after September 15, 2009. This statement establishes the Codification as the source of authoritative accounting
principles used in the preparation of financial statements in conformity with generally accepted accounting principles. The Codification
does not replace or affect guidance issued by the SEC or its staff. As a result of the Codification, the references to authoritative
accounting pronouncements included herein in this Annual Report now refer to the Codification topic section rather than a specific
accounting rule as was past practice.
Use of Estimates:
The preparation of financial
statements in conformity with accounting principles generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results
could differ from those estimates.
Risk and Uncertainties:
Our future results of operations
and financial condition will be impacted by the following factors, among others: our lack of capital resources, dependence on third-party
management to operate the companies in which we invest and dependence on the successful development and marketing of any new products
in new and existing markets. Generally, we are unable to predict the future status of these areas of risk and uncertainty. However,
negative trends or conditions in these areas could have an adverse affect on our business.
Cash and Cash Equivalents:
For financial statement presentation purposes,
short-term, highly liquid investments with original maturities of three months or less are considered to be cash equivalents. The
Company maintains its cash accounts at several financial institutions, which at times may exceed the insurable FDIC limit, but
management believes that there is little risk of loss.
Fair Value of Financial Instruments:
In September 2006, the
Financial Accounting Standards Board (FASB) introduced a framework for measuring fair value and expanded required disclosure about
fair value measurements of assets and liabilities. The Company adopted the standard for those financial assets and liabilities
as of the beginning of the 2008 fiscal year and the impact of adoption was not significant. FASB Accounting Standards Codification
(ASC) 820 Fair Value Measurements and Disclosures (ASC 820) defines fair value as the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based
on market data obtained from independent sources (observable inputs) and (2) an entitys own assumptions about market participant
assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy
consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets
or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy
are described below:
|
Level 1Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. |
|
|
|
Level 2Inputs other than quoted prices included within Level 1 that are observable for the asset or liability; either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g. interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
|
|
|
Level 3Inputs that are both significant to the fair value measurement and unobservable. |
The respective carrying
value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
These financial instruments include investments in available-for-sale securities and accounts payable and accrued expenses. The
Company has also applied ASC 820 for all non-financial assets and liabilities measured at fair value on a non-recurring basis.
The adoption of ASC 820 for non-financial assets and liabilities did not have a significant impact on the Companys financial
statements.
Investments:
Our investments
consist of common stock of publicly quoted companies and are valued based on the closing stock price. We account for our investments
in accordance with ASC Topic 320, Investments. We have designated our investments at February 28, 2013 as available-for-sale
and reported these investments at fair value, with unrealized gains and losses recorded in other comprehensive income (loss). We
determined the fair value of these investments based on the closing quoted stock price on February 28, 2013. We base the cost of
the investment sold on the specific identification method using market rates.
Comprehensive Income:
ASC Topic 220 (SFAS
No. 130) establishes standards for reporting comprehensive income and its components. Comprehensive income is defined as the change
in equity during a period from transactions and other events from non-owner sources. Per the consolidated financial statements,
the Company has purchased available-for-sale securities that are subject to this reporting.
Other-Than-Temporary Impairment:
All of our non-marketable
and other investments are subject to a periodic impairment review. Investments are considered to be impaired when a decline in
fair value is judged to be other-than-temporary.
When events or changes
in circumstances indicate that long-lived assets other than goodwill may be impaired, an evaluation is performed to determine if
a write-down to fair value is required. When an asset is classified as held for sale, the assets book value is evaluated
and adjusted to the lower of its carrying amount or fair value less cost to sell. In addition, depreciation and amortization ceases
while it is classified as held for sale.
The indicators that we use to identify those events and circumstances
include:
|
the investees revenue and earnings trends relative to predefined milestones and overall business prospects; |
|
|
|
the general market conditions in the investees industry or geographic area, including regulatory or economic changes; |
|
|
|
factors related to the investees ability to remain in business, such as the investees liquidity, debt ratios, and the rate at which the investee is using its cash; and |
|
|
|
the investees receipt of additional funding at a lower valuation. If an investee obtains additional funding at a valuation lower than our carrying amount or a new round of equity funding is required for the investee to remain in business, and the new round of equity does not appear imminent, it is presumed that the investment is other than temporarily impaired, unless specific facts and circumstances indicate otherwise. |
Recently Issued Accounting Pronouncements:
The Company has implemented all new
accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that
there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position
or results of operations.
Revenue and Cost Recognition:
The Company applies paragraph
605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized
or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are
met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to
the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.
Daniels Corporate Advisory
Company, Inc., (Daniels) has revenues as a result of corporate financial consulting services which are recognized as services are
performed. Daniels also operates the merchant banking division, which did not have any revenues to recognize.
Fixed Assets:
Fixed assets acquired would
be reported at cost less accumulated depreciation, which is generally provided on the straight-line method over the estimated useful
lives of the assets. Upon sale or retirement of an asset, the related costs and accumulated depreciation are removed from the accounts
and any gain or loss is recognized.
Financing Fees:
Financing fees were being
amortized over the life of the related liability on the straight-line method which is not materially different than using the effective
interest method. All amortization has been expensed since the ongoing staffing operations have discontinued from which the finance
fees were originally accrued.
Net Income (Loss) Per Share
The Company reports basic
and diluted earnings per share (EPS) according to the provisions of ASC Topic 260, which requires the presentation of basic EPS
and, for companies with complex capital structures, diluted EPS. Basic EPS excludes dilution and is computed by dividing net income
(loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted
EPS is computed by dividing net income (loss) available to common stockholders, adjusted by other changes in income or loss that
would result from the assumed conversion of those potential common shares, by the weighted number of common shares and common share
equivalents (unless their effect is antidilutive) outstanding. Common stock equivalents are not included in the computation of
diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive. Thus, these equivalents are
not included in the calculation of diluted loss per share, resulting in basic and diluted loss per share being equal. The following
is a reconciliation of the computation for basic and diluted EPS for the years ended November 30, 2015 and 2014:
|
|
11/30/2015 |
|
11/30/2014 |
Net (Loss) |
|
$ |
(2,962,769 |
) |
|
$ |
297,899 |
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding basic |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common stock |
|
|
35,423,450 |
|
|
|
9,565,374 |
|
Equivalents |
|
|
|
|
|
|
|
|
Stock options |
|
|
- |
|
|
|
- |
|
Warrants |
|
|
- |
|
|
|
- |
|
Convertible Notes |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding- basic and diluted |
|
|
35,423,450 |
|
|
|
9,565,374 |
|
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for all significant accounting policies of the reporting entity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18861-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18726-107790
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18743-107790
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18854-107790
+ Details
Name: |
us-gaap_SignificantAccountingPoliciesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Related Party Transactions
|
12 Months Ended |
Nov. 30, 2015 |
Related Party Transactions [Abstract] |
|
Related Party Transactions |
NOTE 3- RELATED PARTY TRANSACTIONS
The Company currently rents space from
Arthur Viola, CEO and shareholder. This is a month to month rental and there is no commitment beyond each month. The monthly rent
is $2,025 and three months was expensed in the quarter ending August 31, 2015. Arthur Viola was also compensated through stock
issuance in the quarter 9,850,000 shares valued at $209,705.
|
X |
- DefinitionThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A
+ Details
Name: |
us-gaap_RelatedPartyTransactionsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Investments
|
12 Months Ended |
Nov. 30, 2015 |
Investments, Debt and Equity Securities [Abstract] |
|
Investments |
NOTE 4- INVESTMENTS
Investments consist of
a portfolio of common stocks trading on the OTC: BB. The fair market values of the investments held for sale were $191 and $195
at November 30, 2015 and November 30, 2014, respectively. Due to the immaterial amounts and that they are liquid they have been
classified as cash equivalents. Investments held as other assets as long term investments had fair market values of $8,026 and
$10,200 at November 30, 2015 and November 30, 2014, respectively. Other assets are securities of the Companys clients for
long term capital appreciation. The total net unrealized loss for the period ended November 30, 2015 was $17,478 and the total
net realized gain for the period ended November 30, 2014 was $117.
Cash Equivalents are marketable
securities that are available-for-sale and not deemed long term investments by the Company. During the periods ended November
30, 2015 and 2014, there were no available-for-sale securities sold and gross realized (losses) gains on these sales were zero.
For purpose of determining gross realized gains, the cost of securities when sold is based on the FIFO method of valuation. Net
unrealized holding gains (losses) on available-for-sale securities both in cash and investments was $(56,323) and $(38,845), respectively,
for November 30, 2015 and November 30, 2014 and have been included in accumulated other comprehensive income.
|
X |
- References
+ Details
Name: |
us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for investments in certain debt and equity securities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563
+ Details
Name: |
us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Going Concern
|
12 Months Ended |
Nov. 30, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
Going Concern |
NOTE 5- GOING CONCERN
The accompanying financial
statements have been prepared assuming that the Company will continue as a going concern. Currently, the Company has recurring
operating losses, and as of November 30, 2015 the Company had a working capital deficit and an accumulated deficit. These factors
raise substantial doubt about the Companys ability to continue as a going concern. Management believes that the Companys
capital requirements will depend on many factors including the success of the Companys development efforts and its efforts
to raise capital. Management also believes the Company needs to raise additional capital for working capital purposes. There is
no assurance that such financing will be available in the future. The conditions described above raise substantial doubt about
our ability to continue as a going concern. The financial statements of the Company do not include any adjustments relating to
the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary
should the Company be unable to continue as a going concern.
|
X |
- References
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 40 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51888302&loc=SL51888449-203568
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 40 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51888302&loc=SL51888443-203568
+ Details
Name: |
us-gaap_SubstantialDoubtAboutGoingConcernTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for commitments and contingencies.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Income Taxes
|
12 Months Ended |
Nov. 30, 2015 |
Income Tax Disclosure [Abstract] |
|
Income Taxes |
NOTE 7- INCOME TAXES
As of November 30,
2015, the Company had approximately $7,500,000 in net operating loss carry forwards for federal income tax purposes which expire
between 2016 and 2032. Generally, these can be carried forward and applied against future taxable income at the tax rate applicable
at that time. We are currently using a 35% effective tax rate for our projected available net operating loss carry-forward. However,
as a result of potential stock offerings and stock issuance in connection with potential acquisitions, as well as the possibility
of the Company not realizing its business plan objectives and having future taxable income to offset, the Companys use of
these NOLs may be limited under the provisions of Section 382 of the Internal Revenue Code of 1986, as amended. The Company is
in the process of evaluating the implications of Section 382 on its ability to utilize some or all of its NOLs.
Components of deferred tax assets and (liabilities) are as
follows:
|
|
30-Nov-15 |
|
30-Nov-14 |
Net operating loss carry forwards valuation available |
|
$ |
7,513,779 |
|
|
$ |
4,555,010 |
|
|
|
|
|
|
|
|
|
|
Valuation Allowances |
|
|
7,491,918 |
|
|
|
4,320,525 |
|
Deferred Tax Asset |
|
$ |
7,433 |
|
|
$ |
79,725 |
|
The effective tax rate is as follows:
Statutory Federal Rate |
|
|
34 |
% |
Effect of Valuation Allowance |
|
|
(34 |
%) |
Effective Rate |
|
|
0 |
% |
In accordance with
FASB ASC 740 Income Taxes, valuation allowances are provided against deferred tax assets, if based on the weight
of available evidence, some or all of the deferred tax assets may or will not be realized. The Company has evaluated its ability
to realize some or all of the deferred tax assets on its balance sheet and has established a valuation allowance in the amount
of the full NOL at November 30, 2015. The Company did not utilize any NOL deductions for the full fiscal year ended November 30,
2015.
|
X |
- DefinitionThe entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319
+ Details
Name: |
us-gaap_IncomeTaxDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Notes Payable
|
12 Months Ended |
Nov. 30, 2015 |
Debt Disclosure [Abstract] |
|
Notes Payable |
NOTE 8 - NOTES PAYABLE
Other than as described
below, there were no issuances of securities without registration under the Securities Act of 1933 during the reporting period
which were not previously included in our previous form 10K.
On February 23, 2015, the Company entered
in convertible note agreement with a private and accredited investor, LG Capital, in the amount of $37,500, unsecured, with principal
and interest(stated at 8%) amounts due and payable upon maturity on August 13, 2015. After six months, the note holder has the
option to convert any portion of the unpaid principal balance into the Companys common shares at any time. The Company has
determined that the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative
that requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the
following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates
ranging from 195% to 236%. This note was paid off as of August 31, 2015.
On April 28, 2015, the Company entered
in convertible note agreement with a private and accredited investor, KBM Capital, in the amount of $69,000, unsecured, with principal
and interest(stated at 8%) amounts due and payable upon maturity on October 28, 2015. After six months, the note holder has the
option to convert any portion of the unpaid principal balance into the Companys common shares at any time. The Company has
determined that the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative
that requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the
following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates
ranging from 195% to 236%. As of November 30, 2015 the note balance was $24,000.
On April 28, 2015, the Company entered in convertible
note agreement with a private and accredited investor, JMJ Capital, in the amount of $16,500, unsecured, with principal and interest(stated
at 12%) amounts due and payable upon maturity on October 28, 2017. After twenty four months, the note holder has the option to
convert any portion of the unpaid principal balance into the Companys common shares at any time. The Company has determined
that the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative that
requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following
assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates ranging
from 195% to 236%. This note was paid off as of August 31, 2015.
On May 5, 2015, the Company entered in convertible
note agreement with a private and accredited investor, LG Capital, in the amount of $26,150, unsecured, with principal and interest(stated
at 12%) amounts due and payable upon maturity on November 5, 2017. After twenty four months, the note holder has the option to
convert any portion of the unpaid principal balance into the Companys common shares at any time. The Company has determined
that the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative that
requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following
assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates ranging
from 195% to 236%. The unconverted balance was transferred to Essex Capital as of November 30, 2015.
On May 14, 2015, the Company entered in convertible
note agreement with a private and accredited investor, KBM Capital, in the amount of $50,000, unsecured, with principal and interest(stated
at 8%) amounts due and payable upon maturity on November 14, 2015. After six months, the note holder has the option to convert
any portion of the unpaid principal balance into the Companys common shares at any time. The Company has determined that
the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative that requires
bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions:
Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates ranging from 195% to
236%. As of November 30, 2015 the note balance was $50,000 and the unamortized discount was $29,620 fully amortized.
On May 15, 2015, the Company entered in convertible
note agreement with a private and accredited investor, Actus Capital, in the amount of $55,000, unsecured, with principal and interest(stated
at 10%) amounts due and payable upon maturity on February 15, 2016. After nine months, the note holder has the option to convert
any portion of the unpaid principal balance into the Companys common shares at any time. The Company has determined that
the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative that requires
bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the following assumptions:
Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates ranging from 195% to
236%. As of November 30, 2015 the note balance was $35,828 fully amortized.
On August 18, 2015, the Company entered in
convertible note agreement with a private and accredited investor, VIS VIRES Group, in the amount of $26,000, unsecured, with principal
and interest (stated at 8%) amounts due and payable upon maturity on February 14, 2016. After six months, the note holder has the
option to convert any portion of the unpaid principal balance into the Companys common shares at any time. The Company has
determined that the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative
that requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the
following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates
ranging from 195% to 236%. As of November 30, 2015 the note balance was $26,000 and the unamortized discount was $10,833.
On August 27, 2015, the Company entered in
convertible note agreement with a private and accredited investor, JMJ Capital, in the amount of $25,000, unsecured, with principal
and interest(stated at 8%) amounts due and payable upon maturity on August 27, 2017. After six months, the note holder has the
option to convert any portion of the unpaid principal balance into the Companys common shares at any time. The Company has
determined that the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative
that requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the
following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates
ranging from 195% to 236%. As of November 30, 2015 the note balance was $23,750 and the unamortized discount was $11,875.
On August 31, 2015, the Company entered in
convertible note agreement with a private and accredited investor, LG Capital, in the amount of $75,000, unsecured, with principal
and interest(stated at 8%) amounts due and payable upon maturity on February 28, 2016. After six months, the note holder has the
option to convert any portion of the unpaid principal balance into the Companys common shares at any time. The Company has
determined that the conversion feature in this note is not indexed to the Companys stock, and is considered to be a derivative
that requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes model and the
following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical volatility rates
ranging from 195% to 236%. As of May 31, 2015 the note balance was $71,250 and the unamortized discount was $35,625.
On September 16, 2015, the Company entered
in convertible note agreement with a private and accredited investor, Essex Capital LLC, in the amount of $50,800, unsecured,
with principal and interest(stated at 8%) amounts due and payable upon maturity on March 16, 2016. After six months, the note
holder has the option to convert any portion of the unpaid principal balance into the Companys common shares at any time.
$37,500 of this principal was from our original April 28, 2015 note with LG Capital and the rest was cash infusion. The Company
has determined that the conversion feature in this note is not indexed to the Companys stock, and is considered to be a
derivative that requires bifurcation. The Company calculated the fair value of this conversion feature using the Black-Scholes
model and the following assumptions: Risk-free interest rates ranging from .03% to .08%; Dividend rate of 0%; and, historical
volatility rates ranging from 195% to 236%. As of November 30, 2015 the note balance was $50,800 and the unamortized discount
was $19,250.
|
X |
- References
+ Details
Name: |
us-gaap_DebtDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_DebtDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Derivative Liabilities
|
12 Months Ended |
Nov. 30, 2015 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
|
Derivative Liabilities |
NOTE 9- DERIVATIVE LIABILITIES
The Company accounts for derivative
financial instruments in accordance with ASC 815, which requires that all derivative financial instruments be recorded in the balance
sheets either as assets or liabilities at fair value.
The Companys derivative liability
is an embedded derivative associated with one of the Companys convertible promissory notes. The convertible promissory notes
were issued at various times but with similar terms and are therefore being termed as one instrument for this footnote, (the Note),
is a hybrid instruments which contain an embedded derivative feature which would individually warrant separate accounting as a
derivative instrument under Paragraph 815-10-05-4. The embedded derivative feature includes the conversion feature to the Note.
Pursuant to Paragraph 815-10-05-4, the value of the embedded derivative liability have been bifurcated from the debt host contract
and recorded as a derivative liability resulting in a reduction of the initial carrying amount (as unamortized discount) of the
notes, which are amortized as debt discount to be presented in other (income) expenses in the statements of operations using the
effective interest method over the life of the notes.
The embedded derivative within the note
have been valued using the Black Scholes approach, recorded at fair value at the date of issuance; and marked-to-market at each
reporting period end date with changes in fair value recorded in the Companys statements of operations as change
in the fair value of derivative instrument.
As of November 30, 2015 and November
30, 2014, the estimated fair value of derivative liability was determined to be $383,396 and $0, respectively. During the year
to date net additional derivative liabilities of $559,708 were recognized with a debt discount of $395,955. During the year ended
November 30, 2015, amortization of $272,025 was recorded against the note discounts. The change in the fair value of derivative
liabilities for the year ended November 30, 2015 was $55,322 resulting in an aggregate loss on derivative liabilities.
Summary of Fair Value of Financial
Assets and Liabilities Measured on a Recurring Basis
Financial assets and liabilities measured
at fair value on a recurring basis are summarized below and disclosed ay November 30, 2014:
|
|
|
|
|
|
|
Fair Value Measurement Using |
|
|
|
Carrying Value |
|
|
|
Level 1 |
|
|
|
Level 2 |
|
|
|
Level 3 |
|
|
|
Total |
|
Derivative liabilities on conversion feature |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Total derivative liabilities |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
Summary of Fair Value of Financial Assets and Liabilities
Measured on a Recurring Basis
Financial assets and liabilities measured
at fair value on a recurring basis are summarized below and disclosed November 30, 2015:
|
|
|
|
|
Fair Value Measurement Using |
|
|
|
Carrying Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Derivative liabilities on conversion feature |
|
|
383,396 |
|
|
|
- |
|
|
|
- |
|
|
|
383,396 |
|
|
|
383,396 |
|
Total derivative liabilities |
|
$ |
383,396 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
383,396 |
|
|
$ |
383,396 |
|
Summary of the Changes in Fair Value of Level 3 Financial
Liabilities
The table below provides a summary of
the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value
on a recurring basis using significant unobservable inputs (Level 3) during the year ended November 30, 2015:
|
|
Derivative Liability |
Fair value, December 1, 2014 |
|
$ |
0 |
|
Additions |
|
|
559,708 |
|
Conversions on derivative extinguishment |
|
|
(120,990 |
) |
Change in fair value |
|
|
|
|
Transfers in and/or out of Level 3 |
|
|
(55,322 |
) |
Fair value, November 30, 2015 |
|
$ |
383,396 |
|
|
X |
- References
+ Details
Name: |
us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4D -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624177-113959
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959
Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4H -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624258-113959
Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994
Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708775-113959
Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708773-113959
Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959
Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959
Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624181-113959
Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986
Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959
Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
+ Details
Name: |
us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Note Receivable
|
12 Months Ended |
Nov. 30, 2015 |
Receivables [Abstract] |
|
Note Receivable |
NOTE 10- NOTE RECEIVABLE
The Company has advanced funds to Companies
in the logistics field in a dual effort to earn higher returns on idle funds and to help clients expand their businesses which
increases our customer base. This is an unsecured demand note with a stated interest rate of 8%. The balance was $315,000 at August
31, 2015. The entire balance was impaired as management deemed this uncollectible at November 30, 2015.
|
X |
- DefinitionThe entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953791-111525
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e4975-111524
+ Details
Name: |
us-gaap_FinancingReceivablesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_ReceivablesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Legal Proceedings
|
12 Months Ended |
Nov. 30, 2015 |
Commitments and Contingencies Disclosure [Abstract] |
|
Legal Proceedings |
NOTE 11- LEGAL PROCEEDINGS
On May 29, 2015,
we were notified that Lazarus Logistics and Consultants Corp. threatened to file a lawsuit against us alleging breach of contract,
with a request for specific performance, breach of contract on a loan agreement. A settlement has been negotiated as of the date
of this report.
We are not engaged
in any other litigation at the present time, and management is unaware of any claims or complaints that could result in future
litigation. Management will seek to minimize disputes with its customers but recognizes the inevitability of legal action in todays
business environment as an unfortunate price of conducting business.
|
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies.
+ References
+ Details
Name: |
us-gaap_LegalMattersAndContingenciesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Discontinued Operations
|
12 Months Ended |
Nov. 30, 2015 |
Discontinued Operations and Disposal Groups [Abstract] |
|
Discontinued Operations |
NOTE 12- DISCONTINUED OPERATIONS
During the quarter our capital and human
resource efforts to build the Daniels Logistics subsidiary have been limited due to ongoing negotiations with independent contractors
and the fact that we recognized and are committing capital and human resources to the Food & Beverage Industry niches, those
with the potential for significantly higher rates of return on human and financial capital than currently available in Logistics.
We have not ruled out re-entry into Logistics during the current fiscal year.
For comparative purposes results from
our logistics segment has been reclassified into discontinued operation for this and prior periods. The company is continuing
to compile all of the results of these activities but feels the net number presented is reasonable for these financial statements.
|
X |
- References
+ Details
Name: |
us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760
Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760
Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760
Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760
Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760
+ Details
Name: |
us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
X |
- References
+ Details
Name: |
us-gaap_SubsequentEventsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
+ References
+ Details
Name: |
us-gaap_SubsequentEventsTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Summary of Significant Accounting Policies (Policies)
|
12 Months Ended |
Nov. 30, 2015 |
Accounting Policies [Abstract] |
|
Basis of Presentation |
Basis of Presentation:
We have prepared the accompanying
condensed consolidated financial statements in accordance with the rules and regulations of the Securities and Exchange Commission
(SEC) including the instructions to Form S-1 and Rule 10-01 of Regulation S-X. Such rules and regulations allow
us to condense and omit certain information and footnote disclosures normally included in financial statements prepared in accordance
with accounting principles generally accepted in the United States of America. We believe these condensed consolidated financial
statements reflect all adjustments (consisting of normal, recurring adjustments) that are necessary for a fair presentation of
our consolidated financial position and consolidated results of operations for the periods presented.
|
Election to be Treated as an Emerging Growth Company |
Election to be treated as an emerging growth company:
For the five year period
starting in the first quarter of 2012, Daniels if continuing eligibility applies has elected to use the extended transition period
now available for complying with new or revised accounting standards under Section 102(b) (1). This election allows Daniels to
delay the adoption of new or revised accounting standards that have different effective dates for public and private companies
until those standards apply to private companies. As a result of the Company still being eligible, the Daniels financial statements
may not be comparable to companies that comply with public company effective dates.
|
FASB Codification |
FASB Codification:
In June 2009, the FASB
issued ASC 105, Generally Accepted Accounting Principles, (Codification) effective for interim and annual
reporting periods ending after September 15, 2009. This statement establishes the Codification as the source of authoritative
accounting principles used in the preparation of financial statements in conformity with generally accepted accounting principles.
The Codification does not replace or affect guidance issued by the SEC or its staff. As a result of the Codification, the references
to authoritative accounting pronouncements included herein in this Annual Report now refer to the Codification topic section rather
than a specific accounting rule as was past practice.
|
Use of Estimates |
Use of Estimates:
The preparation of financial
statements in conformity with accounting principles generally accepted in the United States of America requires management to
make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
period. Actual results could differ from those estimates.
|
Risk and Uncertainties |
Risk and Uncertainties:
Our future results of
operations and financial condition will be impacted by the following factors, among others: our lack of capital resources, dependence
on third-party management to operate the companies in which we invest and dependence on the successful development and marketing
of any new products in new and existing markets. Generally, we are unable to predict the future status of these areas of risk
and uncertainty. However, negative trends or conditions in these areas could have an adverse affect on our business.
|
Cash and Cash Equivalents |
Cash and Cash Equivalents:
For financial statement presentation purposes,
short-term, highly liquid investments with original maturities of three months or less are considered to be cash equivalents.
The Company maintains its cash accounts at several financial institutions, which at times may exceed the insurable FDIC limit,
but management believes that there is little risk of loss.
|
Fair Value of Financial Instruments |
Fair Value of Financial Instruments:
In September 2006, the
Financial Accounting Standards Board (FASB) introduced a framework for measuring fair value and expanded required disclosure about
fair value measurements of assets and liabilities. The Company adopted the standard for those financial assets and liabilities
as of the beginning of the 2008 fiscal year and the impact of adoption was not significant. FASB Accounting Standards Codification
(ASC) 820 Fair Value Measurements and Disclosures (ASC 820) defines fair value as the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based
on market data obtained from independent sources (observable inputs) and (2) an entitys own assumptions about market participant
assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy
consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets
or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy
are described below:
|
Level 1Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. |
|
|
|
Level 2Inputs other than quoted prices included within Level 1 that are observable for the asset or liability; either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g. interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
|
|
|
Level 3Inputs that are both significant to the fair value measurement and unobservable. |
The respective
carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of
these instruments. These financial instruments include investments in available-for-sale securities and accounts payable and accrued
expenses. The Company has also applied ASC 820 for all non-financial assets and liabilities measured at fair value on a non-recurring
basis. The adoption of ASC 820 for non-financial assets and liabilities did not have a significant impact on the Companys
financial statements.
|
Investments |
Investments:
Our investments
consist of common stock of publicly quoted companies and are valued based on the closing stock price. We account for our investments
in accordance with ASC Topic 320, Investments. We have designated our investments at February 28, 2013 as available-for-sale
and reported these investments at fair value, with unrealized gains and losses recorded in other comprehensive income (loss).
We determined the fair value of these investments based on the closing quoted stock price on February 28, 2013. We base the cost
of the investment sold on the specific identification method using market rates.
|
Comprehensive Income |
Comprehensive Income:
ASC Topic 220 (SFAS
No. 130) establishes standards for reporting comprehensive income and its components. Comprehensive income is defined as the change
in equity during a period from transactions and other events from non-owner sources. Per the consolidated financial statements,
the Company has purchased available-for-sale securities that are subject to this reporting.
|
Other-Than-Temporary Impairment |
Other-Than-Temporary Impairment:
All of our non-marketable
and other investments are subject to a periodic impairment review. Investments are considered to be impaired when a decline in
fair value is judged to be other-than-temporary.
When events or changes
in circumstances indicate that long-lived assets other than goodwill may be impaired, an evaluation is performed to determine if
a write-down to fair value is required. When an asset is classified as held for sale, the assets book value is evaluated
and adjusted to the lower of its carrying amount or fair value less cost to sell. In addition, depreciation and amortization ceases
while it is classified as held for sale.
The indicators that we use to identify those events and circumstances
include:
|
the investees revenue and earnings trends relative to predefined milestones and overall business prospects; |
|
|
|
the general market conditions in the investees industry or geographic area, including regulatory or economic changes; |
|
|
|
factors related to the investees ability to remain in business, such as the investees liquidity, debt ratios, and the rate at which the investee is using its cash; and |
|
|
|
the investees receipt of additional funding at a lower valuation. If an investee obtains additional funding at a valuation lower than our carrying amount or a new round of equity funding is required for the investee to remain in business, and the new round of equity does not appear imminent, it is presumed that the investment is other than temporarily impaired, unless specific facts and circumstances indicate otherwise. |
|
Recently Issued Accounting Pronouncements |
Recently Issued Accounting Pronouncements:
The Company has implemented all new
accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that
there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position
or results of operations.
|
Revenue and Cost Recognition |
Revenue and Cost Recognition:
The Company applies paragraph
605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized
or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are
met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to
the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.
Daniels Corporate Advisory
Company, Inc., (Daniels) has revenues as a result of corporate financial consulting services which are recognized as services
are performed. Daniels also operates the merchant banking division, which did not have any revenues to recognize.
|
Fixed Assets |
Fixed Assets:
Fixed assets acquired
would be reported at cost less accumulated depreciation, which is generally provided on the straight-line method over the estimated
useful lives of the assets. Upon sale or retirement of an asset, the related costs and accumulated depreciation are removed from
the accounts and any gain or loss is recognized.
|
Financing Fees |
Financing Fees:
Financing fees were being
amortized over the life of the related liability on the straight-line method which is not materially different than using the
effective interest method. All amortization has been expensed since the ongoing staffing operations have discontinued from which
the finance fees were originally accrued.
|
Net Income (Loss) Per Share |
Net Income (Loss) Per Share
The Company reports basic
and diluted earnings per share (EPS) according to the provisions of ASC Topic 260, which requires the presentation of basic EPS
and, for companies with complex capital structures, diluted EPS. Basic EPS excludes dilution and is computed by dividing net income
(loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted
EPS is computed by dividing net income (loss) available to common stockholders, adjusted by other changes in income or loss that
would result from the assumed conversion of those potential common shares, by the weighted number of common shares and common share
equivalents (unless their effect is antidilutive) outstanding. Common stock equivalents are not included in the computation of
diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive. Thus, these equivalents are
not included in the calculation of diluted loss per share, resulting in basic and diluted loss per share being equal. The following
is a reconciliation of the computation for basic and diluted EPS for the years ended November 30, 2015 and 2014:
|
|
11/30/2015 |
|
11/30/2014 |
Net (Loss) |
|
$ |
(2,962,769 |
) |
|
$ |
297,899 |
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding basic |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common stock |
|
|
35,423,450 |
|
|
|
9,565,374 |
|
Equivalents |
|
|
|
|
|
|
|
|
Stock options |
|
|
- |
|
|
|
- |
|
Warrants |
|
|
- |
|
|
|
- |
|
Convertible Notes |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding- basic and diluted |
|
|
35,423,450 |
|
|
|
9,565,374 |
|
|
X |
- DefinitionElection To Be Treated As Emerging Growth Company [Policy Text Block]
+ References
+ Details
Name: |
DCAC_ElectionToBeTreatedAsEmergingGrowthCompanyPolicyTextBlock |
Namespace Prefix: |
DCAC_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFasb Codification [Policy Text Block]
+ References
+ Details
Name: |
DCAC_FasbCodificationPolicyTextBlock |
Namespace Prefix: |
DCAC_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity.
+ References
+ Details
Name: |
us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 305 -SubTopic 10 -Section 05 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6375392&loc=d3e26790-107797
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4273-108586
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Financial Reporting Release (FRR) -Number 203 -Paragraph 02-03
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 1 -Article 5
+ Details
Name: |
us-gaap_CashAndCashEquivalentsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for comprehensive income.
+ References
+ Details
Name: |
us-gaap_ComprehensiveIncomePolicyPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for credit risk.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 55 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6875567&loc=d3e14489-108613
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 825 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=51676700&loc=d3e61082-112788
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 825 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28088331&loc=SL29635902-196195
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13537-108611
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13531-108611
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 825 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51676700&loc=d3e61044-112788
+ Details
Name: |
us-gaap_ConcentrationRiskCreditRisk |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
+ Details
Name: |
us-gaap_EarningsPerSharePolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for determining the fair value of financial instruments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13279-108611
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 60 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7493716&loc=d3e21868-110260
+ Details
Name: |
us-gaap_FairValueOfFinancialInstrumentsPolicy |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for finance, loan and lease receivables, including those held for investment and those held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the allowance for loan and lease losses is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition (revenues, expenses and gains and losses arising from committing to issue, issuing, granting, collecting, terminating, modifying and holding loans) policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5144-111524
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6378556&loc=d3e10133-111534
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5093-111524
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (b,d) -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5212-111524
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3-5 -Article 5
+ Details
Name: |
us-gaap_FinanceLoansAndLeasesReceivablePolicy |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 05 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51717228&loc=d3e202-110218
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section CC -Subsection 3
+ Details
Name: |
us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6872867&loc=d3e40691-111596
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section M
+ Details
Name: |
us-gaap_InvestmentPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.
+ References
+ Details
Name: |
us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18823-107790
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18726-107790
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 13.B.Q1) -URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 13 -Section B -Paragraph Question 1
+ Details
Name: |
us-gaap_RevenueRecognitionPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6061-108592
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6143-108592
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6132-108592
+ Details
Name: |
us-gaap_UseOfEstimates |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
Nov. 30, 2015 |
Accounting Policies [Abstract] |
|
Schedule of Reconciliation of Computation for Basic and Diluted EPS |
The following is a reconciliation
of the computation for basic and diluted EPS for the years ended November 30, 2015 and 2014:
|
|
11/30/2015 |
|
11/30/2014 |
Net (Loss) |
|
$ |
(2,962,769 |
) |
|
$ |
297,899 |
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding basic |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common stock |
|
|
35,423,450 |
|
|
|
9,565,374 |
|
Equivalents |
|
|
|
|
|
|
|
|
Stock options |
|
|
- |
|
|
|
- |
|
Warrants |
|
|
- |
|
|
|
- |
|
Convertible Notes |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding- basic and diluted |
|
|
35,423,450 |
|
|
|
9,565,374 |
|
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details
Name: |
us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Income Taxes (Tables)
|
12 Months Ended |
Nov. 30, 2015 |
Income Tax Disclosure [Abstract] |
|
Schedule of Deferred Tax Assets and Liabilities |
Components of deferred tax assets and (liabilities) are as
follows:
|
|
30-Nov-15 |
|
30-Nov-14 |
Net operating loss carry forwards valuation available |
|
$ |
7,513,779 |
|
|
$ |
4,555,010 |
|
|
|
|
|
|
|
|
|
|
Valuation Allowances |
|
|
7,491,918 |
|
|
|
4,320,525 |
|
Deferred Tax Asset |
|
$ |
7,433 |
|
|
$ |
79,725 |
|
|
Schedule of Effective Tax Rate |
The effective tax rate is as follows:
Statutory Federal Rate |
|
|
34 |
% |
Effect of Valuation Allowance |
|
|
(34 |
%) |
Effective Rate |
|
|
0 |
% |
|
X |
- DefinitionTabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319
+ Details
Name: |
us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319
+ Details
Name: |
us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Derivative Liabilities (Tables)
|
12 Months Ended |
Nov. 30, 2015 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
|
Summary of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis |
Summary of Fair Value of Financial
Assets and Liabilities Measured on a Recurring Basis
Financial assets and liabilities measured
at fair value on a recurring basis are summarized below and disclosed ay November 30, 2014:
|
|
|
|
|
|
|
Fair Value Measurement Using |
|
|
|
Carrying Value |
|
|
|
Level 1 |
|
|
|
Level 2 |
|
|
|
Level 3 |
|
|
|
Total |
|
Derivative liabilities on conversion feature |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Total derivative liabilities |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
Summary of Fair Value of Financial Assets and Liabilities
Measured on a Recurring Basis
Financial assets and liabilities measured
at fair value on a recurring basis are summarized below and disclosed November 30, 2015:
|
|
|
|
|
Fair Value Measurement Using |
|
|
|
Carrying Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Derivative liabilities on conversion feature |
|
|
383,396 |
|
|
|
- |
|
|
|
- |
|
|
|
383,396 |
|
|
|
383,396 |
|
Total derivative liabilities |
|
$ |
383,396 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
383,396 |
|
|
$ |
383,396 |
|
|
Summary of the Changes in Fair Value of Level 3 Financial Liabilities |
Summary of the Changes in Fair Value of Level 3 Financial
Liabilities
The table below provides a summary of
the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value
on a recurring basis using significant unobservable inputs (Level 3) during the year ended November 30, 2015:
|
|
Derivative Liability |
Fair value, December 1, 2014 |
|
$ |
0 |
|
Additions |
|
|
559,708 |
|
Conversions on derivative extinguishment |
|
|
(120,990 |
) |
Change in fair value |
|
|
|
|
Transfers in and/or out of Level 3 |
|
|
(55,322 |
) |
Fair value, November 30, 2015 |
|
$ |
383,396 |
|
|
X |
- References
+ Details
Name: |
us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258
+ Details
Name: |
us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258
+ Details
Name: |
us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
Summary of Significant Accounting Policies - Schedule of Reconciliation of Computation for Basic and Diluted EPS (Details) - USD ($)
|
12 Months Ended |
Nov. 30, 2015 |
Nov. 30, 2014 |
Accounting Policies [Abstract] |
|
|
Net (Loss) |
$ (2,962,769)
|
$ 297,899
|
Weighted-average common stock |
35,423,450
|
9,565,374
|
Stock options |
|
|
Warrants |
|
|
Convertible Notes |
|
|
Weighted-average common shares outstanding- basic and diluted |
35,423,450
|
9,565,374
|
X |
- DefinitionWeighted Average Number Of Shares Convertible Notes.
+ References
+ Details
Name: |
DCAC_WeightedAverageNumberOfSharesConvertibleNotes |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted Average Number Of Shares Stock Options.
+ References
+ Details
Name: |
DCAC_WeightedAverageNumberOfSharesStockOptions |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted Average Number Of Shares Warrants.
+ References
+ Details
Name: |
DCAC_WeightedAverageNumberOfSharesWarrants |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAverage number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).
+ References
+ Details
Name: |
us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Weighted-Average Number of Common Shares Outstanding -URI http://asc.fasb.org/extlink&oid=6528421
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
X |
- DefinitionAmount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line.
+ References
+ Details
Name: |
us-gaap_LeaseAndRentalExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionNumber of new stock issued during the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30 -Article 5
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesNewIssues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEquity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodValueNewIssues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_TitleOfIndividualAxis=DCAC_ArthurViolaMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- References
+ Details
Name: |
us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTotal debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
+ Details
Name: |
us-gaap_MarketableSecurities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe aggregate net change in the difference between the fair value and the carrying value, or in the comparative fair values, of marketable securities categorized as trading held at each balance sheet date, that was included in earnings for the period, which may have arisen from (a) securities classified as trading, (b) the unrealized holding gain (loss) on held-to-maturity securities transferred to the trading security category, and (c) the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) on available-for-sale securities transferred to trading securities during the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563
+ Details
Name: |
us-gaap_MarketableSecuritiesUnrealizedGainLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionOther long-term investments not otherwise specified in the taxonomy, not including investments in marketable securities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.1(f)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_OtherLongTermInvestments |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe net realized gains or losses on investments during the period, not including gains or losses on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.3(a)) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 325 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6485959&loc=d3e22529-158502
+ Details
Name: |
us-gaap_RealizedInvestmentGainsLosses |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
v3.3.1.900
X |
- DefinitionOperating loss carryforwards expiration date description.
+ References
+ Details
Name: |
DCAC_OperatingLossCarryforwardsExpirationDateDescription |
Namespace Prefix: |
DCAC_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319
+ Details
Name: |
us-gaap_OperatingLossCarryforwards |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.3.1.900
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
|
Nov. 30, 2015 |
Nov. 30, 2014 |
Income Tax Disclosure [Abstract] |
|
|
Net operating loss carry forwards valuation available |
$ 7,513,779
|
$ 4,555,010
|
Valuation Allowances |
7,491,918
|
4,320,525
|
Deferred Tax Asset |
$ 7,433
|
$ 79,725
|
X |
- DefinitionAmount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b),(c) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319
+ Details
Name: |
us-gaap_DeferredTaxAssetsNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 25 -Paragraph 20 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51675352&loc=d3e28680-109314
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32621-109319
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32632-109319
+ Details
Name: |
us-gaap_DeferredTaxAssetsOperatingLossCarryforwards |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319
+ Details
Name: |
us-gaap_DeferredTaxAssetsValuationAllowance |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.3.1.900
v3.3.1.900
Notes Payable (Details Narrative) - USD ($)
|
Sep. 16, 2015 |
Aug. 31, 2015 |
Aug. 27, 2015 |
Aug. 18, 2015 |
May. 15, 2015 |
May. 14, 2015 |
May. 05, 2015 |
Apr. 28, 2015 |
Feb. 23, 2015 |
Nov. 30, 2015 |
May. 31, 2015 |
Nov. 30, 2014 |
Unamortized discount |
|
|
|
|
|
|
|
|
|
$ 108,732
|
|
$ 0
|
LG Capital [Member] | Convertible Note Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable principal amount |
|
$ 75,000
|
|
|
|
|
$ 26,150
|
$ 37,500
|
$ 37,500
|
|
|
|
Notes payable interest rate |
|
8.00%
|
|
|
|
|
12.00%
|
|
8.00%
|
|
|
|
Notes payable maturity date |
|
Feb. 28, 2016
|
|
|
|
|
Nov. 05, 2017
|
|
Aug. 13, 2015
|
|
|
|
Risk-free interest rates, minimum |
|
0.03%
|
|
|
|
|
0.03%
|
|
0.03%
|
|
|
|
Risk-free interest rates, maximum |
|
0.08%
|
|
|
|
|
0.08%
|
|
0.08%
|
|
|
|
Dividend rate |
|
0.00%
|
|
|
|
|
0.00%
|
|
0.00%
|
|
|
|
Volatility rates minimum |
|
195.00%
|
|
|
|
|
195.00%
|
|
195.00%
|
|
|
|
Volatility rates maximum |
|
236.00%
|
|
|
|
|
236.00%
|
|
236.00%
|
|
|
|
Note balance |
|
|
|
|
|
|
|
|
|
|
$ 71,250
|
|
Unamortized discount |
|
|
|
|
|
|
|
|
|
|
$ 35,625
|
|
KBM Capital [Member] | Convertible Note Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable principal amount |
|
|
|
|
|
|
|
$ 69,000
|
|
|
|
|
Notes payable interest rate |
|
|
|
|
|
|
|
8.00%
|
|
|
|
|
Notes payable maturity date |
|
|
|
|
|
|
|
Oct. 28, 2015
|
|
|
|
|
Risk-free interest rates, minimum |
|
|
|
|
|
|
|
0.03%
|
|
|
|
|
Risk-free interest rates, maximum |
|
|
|
|
|
|
|
0.08%
|
|
|
|
|
Dividend rate |
|
|
|
|
|
|
|
0.00%
|
|
|
|
|
Volatility rates minimum |
|
|
|
|
|
|
|
195.00%
|
|
|
|
|
Volatility rates maximum |
|
|
|
|
|
|
|
236.00%
|
|
|
|
|
Note balance |
|
|
|
|
|
|
|
|
|
24,000
|
|
|
JMJ Capital [Member] | Convertible Note Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable principal amount |
|
|
$ 25,000
|
|
|
|
|
$ 16,500
|
|
|
|
|
Notes payable interest rate |
|
|
8.00%
|
|
|
|
|
12.00%
|
|
|
|
|
Notes payable maturity date |
|
|
Aug. 27, 2017
|
|
|
|
|
Oct. 28, 2017
|
|
|
|
|
Risk-free interest rates, minimum |
|
|
0.03%
|
|
|
|
|
0.03%
|
|
|
|
|
Risk-free interest rates, maximum |
|
|
0.08%
|
|
|
|
|
0.08%
|
|
|
|
|
Dividend rate |
|
|
0.00%
|
|
|
|
|
0.00%
|
|
|
|
|
Volatility rates minimum |
|
|
195.00%
|
|
|
|
|
195.00%
|
|
|
|
|
Volatility rates maximum |
|
|
236.00%
|
|
|
|
|
236.00%
|
|
|
|
|
Note balance |
|
|
|
|
|
|
|
|
|
23,750
|
|
|
Unamortized discount |
|
|
|
|
|
|
|
|
|
11,875
|
|
|
KBM Capital One [Member] | Convertible Note Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable principal amount |
|
|
|
|
|
$ 50,000
|
|
|
|
|
|
|
Notes payable interest rate |
|
|
|
|
|
8.00%
|
|
|
|
|
|
|
Notes payable maturity date |
|
|
|
|
|
Nov. 14, 2015
|
|
|
|
|
|
|
Risk-free interest rates, minimum |
|
|
|
|
|
0.03%
|
|
|
|
|
|
|
Risk-free interest rates, maximum |
|
|
|
|
|
0.08%
|
|
|
|
|
|
|
Dividend rate |
|
|
|
|
|
0.00%
|
|
|
|
|
|
|
Volatility rates minimum |
|
|
|
|
|
195.00%
|
|
|
|
|
|
|
Volatility rates maximum |
|
|
|
|
|
236.00%
|
|
|
|
|
|
|
Note balance |
|
|
|
|
|
|
|
|
|
50,000
|
|
|
Unamortized discount |
|
|
|
|
|
|
|
|
|
29,620
|
|
|
Actus Capital [Member] | Convertible Note Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable principal amount |
|
|
|
|
$ 55,000
|
|
|
|
|
|
|
|
Notes payable interest rate |
|
|
|
|
10.00%
|
|
|
|
|
|
|
|
Notes payable maturity date |
|
|
|
|
Feb. 15, 2016
|
|
|
|
|
|
|
|
Risk-free interest rates, minimum |
|
|
|
|
0.03%
|
|
|
|
|
|
|
|
Risk-free interest rates, maximum |
|
|
|
|
0.08%
|
|
|
|
|
|
|
|
Dividend rate |
|
|
|
|
0.00%
|
|
|
|
|
|
|
|
Volatility rates minimum |
|
|
|
|
195.00%
|
|
|
|
|
|
|
|
Volatility rates maximum |
|
|
|
|
236.00%
|
|
|
|
|
|
|
|
Note balance |
|
|
|
|
|
|
|
|
|
35,828
|
|
|
VIS VIRES Group [Member] | Convertible Note Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable principal amount |
|
|
|
$ 26,000
|
|
|
|
|
|
|
|
|
Notes payable interest rate |
|
|
|
8.00%
|
|
|
|
|
|
|
|
|
Notes payable maturity date |
|
|
|
Feb. 14, 2016
|
|
|
|
|
|
|
|
|
Risk-free interest rates, minimum |
|
|
|
0.03%
|
|
|
|
|
|
|
|
|
Risk-free interest rates, maximum |
|
|
|
0.08%
|
|
|
|
|
|
|
|
|
Dividend rate |
|
|
|
0.00%
|
|
|
|
|
|
|
|
|
Volatility rates minimum |
|
|
|
195.00%
|
|
|
|
|
|
|
|
|
Volatility rates maximum |
|
|
|
236.00%
|
|
|
|
|
|
|
|
|
Note balance |
|
|
|
|
|
|
|
|
|
26,000
|
|
|
Unamortized discount |
|
|
|
|
|
|
|
|
|
10,833
|
|
|
Essex Capital LLC [Member] | Convertible Note Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable principal amount |
$ 50,800
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable interest rate |
8.00%
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable maturity date |
Mar. 16, 2016
|
|
|
|
|
|
|
|
|
|
|
|
Risk-free interest rates, minimum |
0.03%
|
|
|
|
|
|
|
|
|
|
|
|
Risk-free interest rates, maximum |
0.08%
|
|
|
|
|
|
|
|
|
|
|
|
Dividend rate |
0.00%
|
|
|
|
|
|
|
|
|
|
|
|
Volatility rates minimum |
195.00%
|
|
|
|
|
|
|
|
|
|
|
|
Volatility rates maximum |
236.00%
|
|
|
|
|
|
|
|
|
|
|
|
Note balance |
|
|
|
|
|
|
|
|
|
50,800
|
|
|
Unamortized discount |
|
|
|
|
|
|
|
|
|
$ 19,250
|
|
|
X |
- DefinitionFace (par) amount of debt instrument at time of issuance.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399
+ Details
Name: |
us-gaap_DebtInstrumentFaceAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe average effective interest rate during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_DebtInstrumentInterestRateDuringPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDate when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(2)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_DebtInstrumentMaturityDate |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of the required periodic payments applied to principal.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_DebtInstrumentPeriodicPaymentPrincipal |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400
+ Details
Name: |
us-gaap_DebtInstrumentUnamortizedDiscount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe estimated measure of the maximum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe estimated measure of the minimum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe maximum risk-free interest rate assumption that is used in valuing an option on its own shares.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe minimum risk-free interest rate assumption that is used in valuing an option on its own shares.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
dei_LegalEntityAxis=DCAC_LGCapitalMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ShortTermDebtTypeAxis=DCAC_ConvertibleNoteAgreementMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=DCAC_KBMCapitalMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=DCAC_JMJCapitalMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=DCAC_KBMCapitaloneMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=DCAC_ActusCapitalMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=DCAC_VISVIRESGroupMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
dei_LegalEntityAxis=DCAC_EssexCapitalLLCMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionAmount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.8) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_AmortizationOfDebtDiscountPremium |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400
+ Details
Name: |
us-gaap_DebtInstrumentUnamortizedDiscount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionFair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Current Liabilities -URI http://asc.fasb.org/extlink&oid=6509677
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41228-113958
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41271-113958
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13495-108611
+ Details
Name: |
us-gaap_DerivativeLiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of decrease in the fair value of derivatives recognized in the income statement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a),(c),(d),(e) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959
+ Details
Name: |
us-gaap_DerivativeLossOnDerivative |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow provided by derivative instruments during the period, which are classified as financing activities, excluding those designated as hedging instruments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3505-108585
+ Details
Name: |
us-gaap_ProceedsFromDerivativeInstrumentFinancingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_DerivativeInstrumentRiskAxis=DCAC_DerivativeLiabilityMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
Disclosure - Derivative Liabilities - Summary of Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($)
|
Nov. 30, 2015 |
Nov. 30, 2014 |
Derivative liabilities on conversion feature |
$ 383,396
|
|
Total derivative liabilities |
383,396
|
|
Carrying Value [Member] |
|
|
Derivative liabilities on conversion feature |
383,396
|
|
Total derivative liabilities |
$ 383,396
|
|
Fair Value, Inputs, Level 1 [Member] |
|
|
Derivative liabilities on conversion feature |
|
|
Total derivative liabilities |
|
|
Fair Value, Inputs, Level 2 [Member] |
|
|
Derivative liabilities on conversion feature |
|
|
Total derivative liabilities |
|
|
Fair Value, Inputs, Level 3 [Member] |
|
|
Derivative liabilities on conversion feature |
$ 383,396
|
|
Total derivative liabilities |
$ 383,396
|
|
X |
- DefinitionFair values as of the balance sheet date of the net amount of all assets and liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41228-113958
+ Details
Name: |
us-gaap_DerivativeAssetsLiabilitiesAtFairValueNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionFair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4D -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=51814546&loc=SL51823488-111719
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (a),(c) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51825145&loc=SL20226000-175313
+ Details
Name: |
us-gaap_DerivativeFairValueOfDerivativeLiability |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_FairValueByFairValueHierarchyLevelAxis=DCAC_CarryingValueMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- References
+ Details
Name: |
us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
X |
- DefinitionContractual interest rate for funds borrowed, under the debt agreement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_DebtInstrumentInterestRateStatedPercentage |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNet amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_NotesReceivableNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_ReceivablesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Daniels Corporate Advisory (CE) (USOTC:DCAC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Daniels Corporate Advisory (CE) (USOTC:DCAC)
Historical Stock Chart
From Jul 2023 to Jul 2024