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10-Q - FORM 10-Q - Location Based Technologies, Inc.lbt_10q-113012.htm
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EXCEL - IDEA: XBRL DOCUMENT - Location Based Technologies, Inc.Financial_Report.xls
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v2.4.0.6
Note 1 - Nature of Operations And Summary of Significant Accounting Policies (Detail) (USD $)
3 Months Ended 12 Months Ended 15 Months Ended 3 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Aug. 31, 2012
Aug. 31, 2011
Nov. 30, 2012
Minimum [Member]
Nov. 30, 2012
Maximum [Member]
Nov. 30, 2012
Total Net Revenue [Member]
Nov. 30, 2011
Total Net Revenue [Member]
Nov. 30, 2012
Accounts Receivable [Member]
Nov. 30, 2011
Accounts Receivable [Member]
Retained Earnings (Accumulated Deficit) $ (48,440,466)   $ (45,015,115)              
Cash, FDIC Insured Amount 250,000                  
Revenue from External Customers             43,011 39,941    
Concentration Risk, Percentage             21.00% 90.50% 94.00% 99.80%
Accounts Receivable, Net                 100,957 430,121
Allowance for Doubtful Accounts Receivable 304,597   304,597              
Sales Returns and Allowances, Goods 15,875   34,343              
Inventory Adjustments     58,473              
Inventory, Noncurrent 1,350,000   1,350,000              
Commitments and Contingencies     48,054 685,500            
Inventory Purchase Commitments 0   48,054              
Property, Plant and Equipment, Useful Life         1 year 5 years        
Asset Impairment Charges 455,916                  
Finite-Lived Patents, Gross 753,715                  
Finite-Lived Trademarks, Gross 59,470                  
Amortization of Intangible Assets 16,792 7,613                
Deferred Revenue 11,376   16,539              
Marketing and Advertising Expense 268,025 39,705                
Research and Development Expense 42,364 356,299                
Share-based Compensation 81,855 0                
Initial Franchise Fees $ 800