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Stockholders' Equity (Tables)
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12 Months Ended |
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Nov. 30, 2014
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| Significant Option Groups Outstanding and Exercisable Option and its Price and Contractual Life |
Significant option groups outstanding and exercisable at
November 30, 2014 and related price and contractual life
information are as follows:
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Outstanding |
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Exercisable |
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Range of Exercise Prices
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Outstanding |
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Weighted
Average
Remaining
Contractual
Life (Years) |
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Weighted
Average
Exercise Price |
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Outstanding |
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Weighted
Average
Exercise Price |
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$0.42 to $1.00
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2,500 |
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0.70 |
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$ |
.68 |
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2,500 |
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$ |
.68 |
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$1.01 to $ 2.00
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469,264 |
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6.46 |
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$ |
1.72 |
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468,431 |
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$ |
1.72 |
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$2.01 to $ 3.00
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525,502 |
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5.31 |
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$ |
2.52 |
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499,252 |
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$ |
2.53 |
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997,266 |
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5.84 |
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$ |
2.14 |
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970,183 |
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$ |
2.14 |
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| Summary of Non-Vested Options |
A summary of the status of the Company’s non-vested options
as of November 30, 2014, and changes during the fiscal year
then ended, is presented below:
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Options |
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Weighted Average
Grant-Date
Fair Value |
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Non-vested at November 30, 2013
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109,152 |
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$ |
1.79 |
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Granted
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22,500 |
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1.60 |
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Vested
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(75,409 |
) |
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1.78 |
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Forfeited
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(29,160 |
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1.81 |
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Non-vested at November 30, 2014
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27,083 |
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$ |
1.64 |
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| Service-Based Vesting Condition Options [Member] |
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| Fair Value of Options Granted |
Variables used to determine the fair value of the options granted
for the years ended November 30, 2014 and November 30,
2013 are as follows:
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2014 |
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2013 |
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Weighted average values:
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Expected dividends
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0 |
% |
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0 |
% |
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Expected volatility
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84 |
% |
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111 |
% |
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Risk free interest rate
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1.69 |
% |
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1.15 |
% |
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Expected life
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5.0 years |
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5.0 years |
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| Stock Option Activity for Options |
Stock option activity for options with only service-based vesting
conditions for the year ended November 30, 2014, was as
follows:
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Options |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Term (Years) |
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Aggregate
Intrinsic
Value |
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Outstanding at November 30, 2013
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1,112,260 |
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$ |
2.11 |
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6.40 |
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$ |
88,614 |
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Granted
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22,500 |
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2.40 |
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8,550 |
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Exercised
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(51,245 |
) |
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1.54 |
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56,077 |
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Expired/forfeited
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(86,249 |
) |
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2.15 |
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54,454 |
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Outstanding at November 30, 2014
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997,266 |
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$ |
2.14 |
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5.84 |
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$ |
661,466 |
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Exercisable at November 30, 2014
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970,183 |
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$ |
2.14 |
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5.84 |
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$ |
649,134 |
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| Performance and Market-Based Vesting Condition Options [Member] |
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| Stock Option Activity for Options |
Stock option activity for options with performance-based and
market-based vesting conditions for the fiscal year ended
November 30, 2014, was as follows:
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Options |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Life (Years) |
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Aggregate
Intrinsic Value |
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Outstanding at November 30, 2013
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640,000 |
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$ |
1.74 |
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7.83 |
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$ |
70,000 |
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Granted
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— |
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— |
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Exercised
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— |
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— |
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Expired/forfeited
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640,000 |
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1.74 |
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Outstanding at November 30, 2014
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— |
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— |
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— |
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— |
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Exercisable at November 30, 2014
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— |
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— |
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— |
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— |
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