Quarterly report pursuant to Section 13 or 15(d)

Stockholder's Equity (Tables)

v2.4.0.8
Stockholder's Equity (Tables)
6 Months Ended
May 31, 2014
Significant Option Groups Outstanding and Exercisable Option and its Price and Contractual Life

Significant option groups outstanding and exercisable at May 31, 2014 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
 

$0.42 to $1.00

     2,500         1.20       $ 0.68         2,500       $ 0.68   

$1.01 to $2.00

     488,013         6.80       $ 1.72         480,928       $ 1.71   

$2.01 to $3.00

     525,503         5.66       $ 2.52         488,842       $ 2.52   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     1,016,016         6.20       $ 2.13         972,270       $ 2.12   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
Summary of Non-Vested Options

A summary of the status of the Company’s non-vested shares as of May 31, 2014, and changes during the six months ended May 31, 2014, is presented below:

 

     Shares     Weighted Average
Grant-Date
Fair Value
 

Non-vested at November 30, 2013

     109,152      $ 1.79   

Granted

     —          —     

Vested

     (43,743     1.67   

Forfeited

     (21,663     1.84   
  

 

 

   

 

 

 

Non-vested at May 31, 2014

     43,746      $ 1.86   
  

 

 

   

 

 

 

Service-Based Vesting Condition Options [Member]
 
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, 2013 are as follows:

 

     Three Months Ended     Six Months Ended  
     May 31, 2013     May 31, 2013  

Weighted average values:

    

Expected dividends

     0     0

Expected volatility

     112.4     113.3

Risk free interest rate

     .81     .81

Expected life

     5 years        5 years   
Stock Option Activity for Options

Stock option activity for options with only service-based vesting conditions for the six months ended May 31, 2014, was as follows:

 

     Shares     Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Term (Years)
     Aggregate
Intrinsic
Value
 

Outstanding at November 30, 2013

     1,112,260      $ 2.11         6.40       $ 88,614   

Granted

     —          —              —     

Exercised

     32,496        1.50            31,149   

Expired/forfeited

     (63,748     2.13            23,700   
  

 

 

   

 

 

    

 

 

    

 

 

 

Outstanding at May 31, 2014

     1,016,016      $ 2.13         6.20       $ 435,491   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable at May 31, 2014

     972,270      $ 2.12         6.27       $ 427,684   
  

 

 

   

 

 

    

 

 

    

 

 

 
Performance and Market-Based Vesting Condition Options [Member]
 
Range of Expected Volatilities for Options

The range of expected volatilities for options issued during the six months ended May 31, 2013 are as follows:

 

May 31, 2013
111.6% - 114.9%
Stock Option Activity for Options

Stock option activity for options with performance-based and market-based vesting conditions for the six months ended May 31, 2014, was as follows:

 

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

Outstanding at November 30, 2013

     640,000      $ 1.74         7.83       $ 70,000   

Granted

     —          —           

Exercised

     —          —           

Expired/forfeited

     (600,000     1.72         
  

 

 

   

 

 

       

Outstanding at May 31, 2014

     40,000      $ 2.05         4.76       $ 16,000   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable at May 31, 2014

     —          —           —           —