Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.10.0.1
Stockholders' Equity (Tables)
6 Months Ended
May 31, 2018
Fair Value of Options Granted

Variables used to determine the fair value of the options granted for the three and six months ended May 31, 2018 are as follows:

 

     Three Months Ended
May 31, 2018
    Six Months Ended
May 31, 2018
 

Weighted average values:

    

Expected dividends

     0     0

Expected volatility

     50.8     50.8

Risk free interest rate

     2.67     2.67

Expected life

     5 years       5 years  
Service-Based Vesting Condition Options [Member]  
Stock Option Activity

Stock option activity for options with only service-based vesting conditions for the six months ended May 31, 2018, was as follows:

 

     Options      Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Life (Years)
     Aggregate
Intrinsic
Value
 

Outstanding at November 30, 2017

     1,026,979      $ 2.50        4.48      $ 5,706,107  

Granted

     51,636        7.85           80  

Exercised

     (2,250      2.19           12,815  

Expired/forfeited

     (11,000      2.10           59,380  
  

 

 

          

Outstanding at May 31, 2018

     1,065,365      $ 2.77        4.22      $ 5,059,743  
  

 

 

    

 

 

    

 

 

    

 

 

 

Exercisable at May 31, 2018

     1,016,358      $ 2.57        4.14      $ 5,018,648  
  

 

 

    

 

 

    

 

 

    

 

 

 
Significant Option Groups Outstanding and Exercisable Option and its Price and Contractual Life

Significant option groups outstanding and exercisable at May 31, 2018 and related price and contractual life information are as follows:

 

     Outstanding      Exercisable  

Range of Exercise

          Prices           

   Outstanding      Weighted
Average
Remaining
Contractual
Life (Years)
     Weighted
Average
Exercise
Price
     Outstanding      Weighted
Average
Exercise
Price
 

$1.01 to $2.00

     422,500        3.43      $ 1.73        422,500      $ 1.73  

$2.01 to $3.00

     339,000        2.33      $ 2.70        339,000      $ 2.70  

$3.01 to $4.00

     227,229        7.67      $ 3.18        218,896      $ 3.18  

$6.01 to $7.00

     25,000        8.84      $ 6.95        18,747      $ 7.00  

$7.01 to $8.00

     51,636        5.58      $ 7.85        17,215      $ 7.85  
  

 

 

          

 

 

    
     1,065,365        4.22      $ 2.77        1,016,358      $ 2.57  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
Summary of Non-Vested Options

A summary of the status of the Company’s non-vested options as of May 31, 2018, and changes during the six months ended May 31, 2018, is presented below:

 

     Options      Weighted Average
Grant-Date

Fair Value
 

Non-vested at November 30, 2017

     39,168      $ 2.41  

Granted

     51,636        3.23  

Vested

     (41,797      2.77  

Forfeited

     —          —    
  

 

 

    

Non-vested at May 31, 2018

     49,007      $ 2.96