Quarterly report pursuant to Section 13 or 15(d)

Stockholder's Equity (Tables)

v3.5.0.2
Stockholder's Equity (Tables)
6 Months Ended
May 31, 2016
Stock Option Activity for Options with Service-Based Vesting Conditions

Stock option activity for options with only service-based vesting conditions for the six months ended May 31, 2016, was as follows:

 

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

Outstanding at November 30, 2015

     968,930       $ 2.17         5.01       $  1,095,525   

Granted

     169,729         3.15            —     

Exercised

     —           —              —     

Expired/forfeited

     (2,500      2.10            2,250   
  

 

 

          

Outstanding at May 31, 2016

     1,136,159       $ 2.32         5.32       $ 804,396   
  

 

 

    

 

 

    

 

 

    

 

 

 

Exercisable at May 31, 2016

     1,019,264       $ 2.22         4.81       $ 804,396   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

Significant Option Groups Outstanding and Exercisable Option and its Price and Contractual Life

Significant option groups outstanding and exercisable at May 31, 2016 and related price and contractual life information are as follows:

 

     Outstanding      Exercisable  
            Weighted
Average
                      
            Remaining      Weighted             Weighted  

Range of Exercise Prices

   Outstanding      Contractual
Life (Years)
     Average
Exercise Price
     Outstanding      Average
Exercise Price
 

$1.01 to $2.00

     465,930         4.98       $ 1.72         465,930       $ 1.72   

$2.01 to $3.00

     478,000         3.99       $ 2.56         478,000       $ 2.56   

$3.01 to $4.00

     192,229         9.44       $ 3.15         75,334       $ 3.14   
  

 

 

          

 

 

    
     1,136,159         5.32       $ 2.32         1,019,264       $ 2.22   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

Summary of Non-Vested Options

A summary of the status of the Company’s non-vested options as of May 31, 2016, and changes during the six months ended May 31, 2016, is presented below:

 

            Weighted Average  
            Grant-Date  
     Options      Fair Value  

Non-vested at November 30, 2015

     15,003       $ 1.90   

Granted

     169,729         1.91   

Vested

     (67,837      2.16   

Forfeited

     —           —     

Non-vested at May 31, 2016

     116,895       $ 1.76   
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, 2016 are as follows:

 

     Three Months Ended     Six Months Ended  
     May 31, 2016     May 31, 2016  

Weighted average values:

    

Expected dividends

     0     0

Expected volatility

     84.7     84.7

Risk free interest rate

     1.24     1.24

Expected life

     6 years        6 years