Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.8.0.1
Stockholders' Equity (Tables) - Service-Based Vesting Condition Options [Member]
 12 Months Ended
Nov. 30, 2017
Fair Value of Options Granted

Variables used to determine the fair value of the options granted for the years ended November 30, 2017 and November 30, 2016 are as follows:

 

     2017     2016  

Weighted average values:

     

Expected dividends

      0 %      0 % 

Expected volatility

      52.07 %      66.39 % 

Risk free interest rate

      1.82 %      1.22 % 

Expected life

      5.0 years       5.6 years  
Stock Option Activity

Stock option activity for options with only service-based vesting conditions for the year ended November 30, 2017, was as follows:

 

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

Outstanding at November 30, 2016

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

Granted

      25,000        6.95           27,750  

Exercised

      (33,031 )       1.96           108,349  

Expired/forfeited

      (107,000 )       2.19           628,280  
  

 

 

           

Outstanding at November 30, 2017

      1,026,979        2.50        4.48      $ 5,706,107  
  

 

 

           

 

 

  

Exercisable at November 30, 2017

      987,811        2.41        4.34      $ 5,580,178  
  

 

 

           

 

 

  
Significant Option Groups Exercisable Option and its Price and Contractual Life

Significant option groups outstanding and exercisable at November 30, 2017 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		  

$1.01 to $2.00

      423,750        3.93      $ 1.73        423,750      $ 1.73  

$2.01 to $3.00

      351,000        2.81      $ 2.68        351,000      $ 2.68  

$3.01 to $4.00

      227,229        7.57      $ 3.18        205,564      $ 3.18  

$6.01 to $7.00

      25,000        9.34      $ 6.95        7,497      $ 7.00  
  

 

 

        

 

 

     

 

 

     
     1,026,979        4.48      $ 2.50        987,811      $ 2.41  
  

 

 

        

 

 

     

 

 

     
Summary of Non-Vested Options

A summary of the status of the Company’s non-vested options as of November 30, 2017, and changes during the fiscal year then ended, is presented below:

 

     Options      Weighted Average
Grant-Date
Fair Value		  

Non-vested at November 30, 2016

      97,406      $ 1.84  

Granted

      25,000        3.23  

Vested

      (83,238 )       1.99  

Forfeited

      —          —    
  

 

 

     

Non-vested at November 30, 2017

      39,168      $ 2.41