Stockholders' Equity (Tables)
|
9 Months Ended |
Aug. 31, 2019 |
|---|
| 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, 2019 and August 31, 2018, respectively, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months
Ended |
|
|
Three Months
Ended |
|
|
Nine Months
Ended |
|
|
Nine Months
Ended |
|
| |
|
August 31, 2019 |
|
|
August 31, 2018 |
|
|
August 31, 2019 |
|
|
August 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0% |
|
|
|
— |
|
|
|
0% |
|
|
|
0% |
|
|
|
|
49.7% |
|
|
|
— |
|
|
|
49.7% |
|
|
|
50.8% |
|
|
|
|
1.39% |
|
|
|
— |
|
|
|
1.40% |
|
|
|
2.67% |
|
|
|
|
5 years |
|
|
|
— |
|
|
|
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 nine months ended August 31, 2019, was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Weighted
Average
Exercise
Price |
|
|
Weighted
Average
Remaining
Contractual
Term (Years) |
|
|
Aggregate
Intrinsic
Value |
|
Outstanding at November 30, 2018 |
|
|
1,001,365 |
|
|
$ |
2.77 |
|
|
|
3.97 |
|
|
$ |
4,580,967 |
|
|
|
|
112,465 |
|
|
|
7.52 |
|
|
|
|
|
|
|
735 |
|
|
|
|
(2,500 |
) |
|
|
2.28 |
|
|
|
|
|
|
|
14,175 |
|
|
|
|
(7,500 |
) |
|
|
2.22 |
|
|
|
|
|
|
|
39,800 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at August 31, 2019 |
|
|
1,103,830 |
|
|
$ |
3.26 |
|
|
|
4.19 |
|
|
$ |
4,728,540 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable at August 31, 2019 |
|
|
1,004,312 |
|
|
$ |
2.83 |
|
|
|
3.72 |
|
|
$ |
4,727,576 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Significant Option Groups Exercisable Option and its Price and Contractual Life |
Significant option groups outstanding and exercisable at August 31, 2019 and related price and contractual life information are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Outstanding |
|
|
Exercisable |
|
|
|
Outstanding |
|
|
Weighted
Average
Remaining
Contractual
Life (Years) |
|
|
Weighted
Average
Exercise
Price |
|
|
Outstanding |
|
|
Weighted
Average
Exercise Price |
|
|
|
|
422,500 |
|
|
|
2.35 |
|
|
$ |
1.73 |
|
|
|
422,500 |
|
|
$ |
1.73 |
|
|
|
|
265,000 |
|
|
|
2.36 |
|
|
|
2.72 |
|
|
|
265,000 |
|
|
|
2.72 |
|
|
|
|
227,229 |
|
|
|
6.52 |
|
|
|
3.18 |
|
|
|
227,229 |
|
|
|
3.18 |
|
|
|
|
25,000 |
|
|
|
7.59 |
|
|
|
6.95 |
|
|
|
24,167 |
|
|
|
6.97 |
|
|
|
|
164,101 |
|
|
|
8.17 |
|
|
|
7.63 |
|
|
|
65,416 |
|
|
|
7.69 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
1,103,830 |
|
|
|
4.19 |
|
|
$ |
3.26 |
|
|
|
1,004,312 |
|
|
$ |
2.83 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Non-Vested Options |
A summary of the status of the Company’s non-vested options as of August 31, 2019, and changes during the nine months ended August 31, 2019, is presented below:
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Weighted Average
Grant-Date
Fair Value |
|
Non-vested at November 30, 2018 |
|
|
40,254 |
|
|
$ |
3.06 |
|
|
|
|
112,465 |
|
|
|
3.32 |
|
|
|
|
(53,201 |
) |
|
|
3.16 |
|
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
Non-vested at August 31, 2019 |
|
|
99,518 |
|
|
|
3.30 |
|
|