Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.6.0.2
Stockholders' Equity (Tables)
12 Months Ended
Nov. 30, 2016
Stock Option Activity for Options with Service-Based Vesting Conditions

Stock option activity for options with only service-based vesting conditions for the year ended November 30, 2016, was as follows:

 

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

Outstanding at November 30, 2015

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

Granted

     204,729        3.19           217,249  

Exercised

     (23,399      1.72           51,384  

Expired/forfeited

     (8,250      2.18           17,040  
  

 

 

          

Outstanding at November 30, 2016

     1,142,010      $ 2.36      4.99    $ 2,157,112  
  

 

 

          

 

 

 

Exercisable at November 30, 2016

     1,044,604      $ 2.28      4.66    $ 2,055,492  
  

 

 

          

 

 

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

Significant option groups outstanding and exercisable at November 30, 2016 and related price and contractual life information are as follows:

 

     Outstanding      Exercisable  
            Weighted                     
            Average                     

Range of Exercise

Prices

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

$1.01 to $2.00

     441,781      4.74    $ 1.72        441,781      $ 1.72  

$2.01 to $3.00

     473,000      3.51    $ 2.57        473,000      $ 2.57  

$3.01 to $4.00

     227,229      8.57    $ 3.18        129,823      $ 3.16  
  

 

 

       

 

 

    

 

 

    
     1,142,010      4.99    $ 2.36        1,044,604      $ 2.28  
  

 

 

       

 

 

    

 

 

    
Summary of Non-Vested Options

A summary of the status of the Company’s non-vested options as of November 30, 2016, and changes during the fiscal year then ended, is presented below:

 

            Weighted Average  
            Grant-Date  
     Options      Fair Value  

Non-vested at November 30, 2015

     15,003      $ 1.90  

Granted

     204,729        1.86  

Vested

     (122,326      1.88  

Forfeited

     —          —    
  

 

 

    

Non-vested at November 30, 2016

     97,406      $ 1.84  
  

 

 

    
Service-Based Vesting Condition Options [Member]  
Fair Value of Options Granted

Variables used to determine the fair value of the options granted for the years ended November 30, 2016 and November 30, 2015 are as follows:

 

     2016     2015  

Weighted average values:

    

Expected dividends

     0%       0%  

Expected volatility

     66.39%       75.50%  

Risk free interest rate

     1.22%       1.57%  

Expected life

     5.6 years       5.0 years