v3.4.0.3

STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
STATEMENTS OF OPERATIONS - USD ($)	Feb. 29, 2016	Feb. 28, 2015
Income Statement [Abstract]
Revenue	$ 0	$ 0
Operating expenses:
General and administrative	403,460	433,672
Professional Fees	58,695	103,529
Total operating expenses	462,155	537,201
Operating loss	(462,155)	(537,201)
Other income (expense):
Interest expense	(35,437)	0
Discount amortization	(110,247)	0
Gain on extinguishment of debt	42,241	0
Change in derivative liability due to conversions	(498,495)	0
Total other income (expense)	(601,938)	0
Net loss	$ (1,064,093)	$ (537,201)
Weighted average number of common shares outstanding - basic and fully diluted	70,137,436	50,310,337
Net loss per share - basic and fully diluted	$ (.02)	$ (.01)

Amount 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.

+ References

Reference 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=66902209&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=64930785&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=63488584&loc=d3e20235-122688

Virtus Oil & Gas Corp. 10-Q/A