Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.25.4
Leases (Tables)
12 Months Ended
Nov. 30, 2025
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 November 30, 2025 and November 30, 2024:

 

 

 

November 30, 2025

 

 

November 30,
2024

 

Assets

 

 

 

 

 

 

Operating lease right-of-use asset

 

$

819,626

 

 

$

806,339

 

Liabilities

 

 

 

 

 

 

Current portion of operating lease liabilities

 

$

430,221

 

 

$

428,334

 

Operating lease long-term liabilities

 

 

474,628

 

 

 

505,053

 

Total lease liability

 

$

904,849

 

 

$

933,387

 

 

Summary of Maturity of Company's Lease Liabilities

The maturity of the Company’s lease liabilities at November 30, 2025 were as follows:

 

 

 

Future Operating

 

Fiscal Year Ending November 30,

 

Lease Payments

 

2026

 

 

483,136

 

2027

 

 

457,513

 

2028

 

 

38,175

 

Less: Imputed interest

 

 

(73,975

)

Present value of lease liabilities

 

$

904,849

 

Summary of Remaining Lease Term and Discount Rates

The remaining lease term and discount rates are as follows:

 

 

 

November 30, 2025

 

November 30,
2024

 

Lease Term and Discount Rate

 

 

 

 

 

Remaining lease term (years)

 

 

 

 

 

Operating lease

 

2.03

 

 

2.08

 

Discount rate (percentage)

 

 

 

 

 

Operating lease

 

7.5%

 

 

8.3

%

 

Summary of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows:

 

 

 

Twelve months ended

 

 

 

November 30, 2025

 

 

November 30, 2024

 

Operating cash outflows from operating leases

 

$

504,751

 

 

$

355,140