Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

v2.4.0.6
Stock Options (Tables)
9 Months Ended
Aug. 31, 2012
Share Based Compensation Arrangement by Share Based Payment Award [Line Items]  
Fair value of options
                                 
    Three Months Ended     Nine Months Ended  
    August 31,
2012
    August 31,
2011
    August 31,
2012
    August 31,
2011
 

Weighted average values:

                               

Expected dividends

    0     0     0     0

Expected volatility

    115.76     108.85     112.50     107.62

Risk free interest rate

    .74     1.02     .90     1.21

Expected life

    5.0 years       5.7 years       5.6 years       5.6 years  
         
    Nine Months Ended  
    August 31, 2012  

Weighted average values:

       

Expected dividends

    0

Expected volatility

    107.03

Risk free interest rate

    1.00

Expected life

    6.4 years  
Stock option activity for options
                                 
    Shares     Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual
Term (Years)
    Aggregate
Intrinsic
Value
 

Outstanding at November 30, 2011

    608,419     $ 2.40       6.38     $ 37,490  
         

Granted

    698,500       1.90             $ 200,375  

Exercised

    (33,562     1.83             $ 22,801  

Expired/forfeited

    (122,280     2.20             $ 24,806  
   

 

 

   

 

 

   

 

 

   

 

 

 

Outstanding at August 31, 2012

    1,151,077     $ 2.14       7.28     $ 297,213  
   

 

 

   

 

 

   

 

 

   

 

 

 

Exercisable at August 31, 2012

    820,062     $ 2.10       7.66     $ 268,206  
   

 

 

   

 

 

   

 

 

   

 

 

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

Outstanding at November 30, 2011

    —         —         —         —    
         

Granted

    1,170,000     $ 1.73                  

Exercised

    —         —                    

Expired/forfeited

    (30,000     1.72                  
   

 

 

   

 

 

                 

Outstanding at August 31, 2012

    1,140,000     $ 1.73       7.84     $ 499,800  
   

 

 

   

 

 

   

 

 

   

 

 

 

Exercisable at August 31, 2012

    —         —         —         —    
   

 

 

   

 

 

   

 

 

   

 

 

 
Information of outstanding and exercisable option and its price and contractual life
                                         
    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

    15,000       2.41     $ .68       15,000     $ .68  

$1.01 to $ 2.00

    546,988       7.89     $ 1.68       507,797     $ 1.69  

$2.01 to $ 3.00

    548,500       7.30     $ 2.54       256,676     $ 2.80  

$3.01 to $ 4.00

    40,589       .60     $ 3.34       40,589     $ 3.34  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
      1,151,077       7.28     $ 2.14       820,062     $ 2.10  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Summary of the non-vested shares
                 
    Shares     Weighted Average
Grant-Date

Fair Value
 

Non-vested at November 30, 2011

    353,277     $ 1.94  
     

Granted

    698,500       1.55  

Vested

    (638,074     1.65  

Forfeited

    (82,688     1.63  
   

 

 

   

 

 

 

Non-vested at August 31, 2012

    331,015     $ 1.76