Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
3 Months Ended
Feb. 29, 2020
Leases [Abstract]  
Summary of Lease Assets and Liabilities
The following table presents the
right-of-use
asset and short-term and long-term lease liabilities amounts recorded on the consolidated balance sheets as of February 29, 2020:
 
     February 29, 2020  
Assets
  
Operating lease
right-of-use
asset
   $ 496,284  
Liabilities
  
Current portion of operating lease liabilities
   $ 264,798  
Operating lease long term liabilities
     231,677  
  
 
 
 
Total lease liability
   $ 496,475  
  
 
 
 
Summary of Maturity of the Company's Lease Liabilities
The maturity of the Company’s lease liabilities at February 29, 2020 were as follows:
 
     Future Operating  
Fiscal Year Ending November 30,
   Lease Payments  
2020 (remaining 9 months)
   $ 213,635  
2021
     284,846  
2022
     23,737  
Less: Imputed interest
     (25,743
  
 
 
 
Present value of lease liabilities
   $ 496,475  
  
 
 
 
Summary of Remaining Lease Term and Discount Rates
The remaining lease term and discount rates are as follows:
 
     February 29, 2020  
Lease Term and Discount Rate
  
Remaining lease term (years)
  
Operating lease
     1.8  
Discount rate (percentage)
  
Operating lease
     5.3
Summary of Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases is as follows:
 
     Three Months Ended  
     February 29, 2020  
Operating cash outflows from operating leases
   $ 66,300