Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.19.3.a.u2
Stockholders' Equity (Tables)
 12 Months Ended
Nov. 30, 2019
Fair Value of Options Granted
Variables used to determine the fair value of the options granted for the years ended November 30, 2019 and November 30, 2018 are as follows:
 
     2019     2018  
Weighted average values:
     
Expected dividends
      0%       0%  
Expected volatility
      64.02%       50.85%  
Risk free interest rate
      1.55%       2.67%  
Expected life
      8.4 years       5.0 years  
Service-Based Vesting Condition Options [Member]  
Stock Option Activity
Stock option activity for options with only service-based vesting conditions for the year ended November 30, 2019, was as follows:
 
     Options      Weighted
Average
Exercise
Price		      Weighted
Average
Remaining
Contractual
Term (Years)		      Aggregate
Intrinsic
Value		  
Outstanding at November 30, 2018
      1,001,365      $ 2.77        3.97      $ 4,580,967  
Granted
      143,409        7.55        0        4,851  
Exercised
      (2,500 )       2.28        0        14,175  
Expired/forfeited
      (52,500 )       4.82        0        143,450  
  
 
 
           
Outstanding at November 30, 2019
      1,089,774        3.30        3.91      $ 4,648,111  
  
 
 
           
 
 
  
Exercisable at November 30, 2019
      964,540        2.75        3.33      $ 4,644,277  
  
 
 
           
 
 
  
Significant Option Groups Exercisable Option and its Price and Contractual Life
Significant option groups outstanding and exercisable at November 30, 2019 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
      422,500        2.10      $ 1.73        422,500      $ 1.73  
$2.01 to $3.00
      265,000        2.11      $ 2.72        265,000      $ 2.72  
$3.01 to $4.00
      204,729        6.23      $ 3.14        204,729      $ 3.14  
$6.01 to $7.00
      2,500        4.65      $ 6.50        1,667      $ 6.50  
$7.01 to $8.00
      195,045        7.84      $ 7.63        70,644      $ 7.67  
  
 
 
        
 
 
     
 
 
     
     1,089,774        3.91      $ 3.30        964,540      $ 2.75  
  
 
 
        
 
 
     
 
 
     
Summary of Non-Vested Options
A summary of the status of the Company’s
non-vested
options as of November 30, 2019, and changes during the fiscal year then ended, is presented below:
 
            Weighted Average  
            Grant-Date  
     Options      Fair Value  
Non-vested
at November 30, 2018
      40,254      $ 3.06  
Granted
      143,409        5.02  
Vested
      (58,429 )       4.36  
Forfeited
      0        0  
  
 
 
     
Non-vested
at November 30, 2019
      125,234      $ 4.70