Stockholders' Equity (Tables) - Service-Based Vesting Condition Options [Member]
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9 Months Ended |
Aug. 31, 2017 |
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| Fair Value of Options Granted |
Variables used to determine the fair value of the options granted
for the three and nine months ended August 31, 2017 and
August 31, 2016, respectively, are as follows:
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Three Months
Ended |
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Three Months
Ended |
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Nine Months
Ended |
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Nine Months
Ended |
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August 31, 2017 |
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August 31, 2016 |
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August 31, 2017 |
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August 31, 2016 |
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Weighted average values:
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Expected dividends
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0% |
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0% |
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0% |
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0% |
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Expected volatility
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52.06% |
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66.09% |
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52.06% |
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66.39% |
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Risk free interest rate
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1.82% |
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1.09% |
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1.82% |
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1.22% |
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Expected life
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5.0 years |
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5.0 years |
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5.0 years |
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5.6 years |
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| Stock Option Activity |
Stock option activity for options with only service-based vesting
conditions for the nine months ended August 31, 2017, was as
follows:
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Weighted |
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Weighted
Average |
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Average |
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Remaining |
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Aggregate |
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Shares |
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Exercise
Price |
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Contractual
Term (Years) |
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Intrinsic
Value |
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Outstanding at November 30, 2016
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1,142,010 |
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$ |
2.36 |
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4.99 |
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$ |
2,157,112 |
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Granted
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22,500 |
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7.00 |
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— |
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Exercised
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(26,781 |
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1.92 |
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78,149 |
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Expired/forfeited
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(7,500 |
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1.66 |
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38,150 |
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Outstanding at August 31, 2017
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1,130,229 |
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$ |
2.47 |
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4.41 |
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$ |
4,844,612 |
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Exercisable at August 31, 2017
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1,044,697 |
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$ |
2.34 |
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4.12 |
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$ |
4,610,775 |
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| Significant Option Groups Exercisable Option and its Price and Contractual Life |
Significant option groups outstanding and exercisable at
August 31, 2017 and related price and contractual life
information are as follows:
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Outstanding |
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Exercisable |
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Weighted
Average |
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Remaining |
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Weighted |
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Weighted |
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Range of Exercise Prices
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Outstanding |
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Contractual
Life (Years) |
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Average
Exercise Price |
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Outstanding |
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Average
Exercise Price |
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$1.01 to $ 2.00
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425,000 |
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4.17 |
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$ |
1.73 |
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425,000 |
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$ |
1.73 |
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$2.01 to $ 3.00
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455,500 |
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2.81 |
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2.58 |
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455,500 |
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2.58 |
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$3.01 to $4.00
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227,229 |
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7.82 |
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3.18 |
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162,325 |
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3.19 |
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$6.01 to $7.00
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22,500 |
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6.89 |
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7.00 |
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1,872 |
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7.00 |
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1,130,229 |
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4.41 |
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$ |
2.47 |
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1,044,697 |
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$ |
2.34 |
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| Summary of Non-Vested Options |
A summary of the status of the Company’s non-vested options as of
August 31, 2017, and changes during the nine months ended
August 31, 2017, is presented below:
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Weighted Average |
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Grant-Date |
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Shares |
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Fair Value |
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Non-vested at
November 30, 2016
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97,406 |
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$ |
1.84 |
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Granted
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22,500 |
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3.25 |
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Vested
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(34,374 |
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1.92 |
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Forfeited
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— |
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— |
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Non-vested at
August 31, 2017
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85,532 |
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$ |
2.18 |
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