Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.24.0.1
Stockholders' Equity (Tables)
 12 Months Ended
Nov. 30, 2023
Fair Value of Options Granted

Variables used to determine the fair value of the options granted for the years ended November 30, 2023 and November 30, 2022 are as follows:

 

 

 

2023

 

2022

Weighted average values:

 

 

 

 

Expected dividends

 

0%

 

0%

Expected volatility

 

55.44%

 

54.07%

Risk free interest rate

 

3.94%

 

2.90%

Expected life

 

5.3 years

 

4.4 years
Stock Option Activity

Stock option activity for options with only service-based vesting conditions for the year ended November 30, 2023 was as follows:

 

 

 

 

 

 

Weighted

 

 

Weighted
Average
Remaining

 

 

 

 

 

 

 

 

 

Average

 

 

Contractual

 

 

Aggregate

 

 

 

Options

 

 

Exercise
Price

 

 

Term
(Years)

 

 

Intrinsic
Value

 

Outstanding at November 30, 2022

 

 

329,314

 

 

$

8.36

 

 

4.68

 

 

$

37,250

 

Granted

 

 

123,600

 

 

 

4.70

 

 

 

 

 

 

79,930

 

Exercised

 

 

(5,000

)

 

 

3.10

 

 

 

 

 

 

8,950

 

Expired/forfeited

 

 

(43,636

)

 

 

7.92

 

 

 

 

 

 

—

 

Outstanding at November 30, 2023

 

 

404,278

 

 

$

7.36

 

 

 

4.49

 

 

$

135,330

 

Exercisable at November 30, 2023

 

 

290,085

 

 

$

7.50

 

 

 

4.60

 

 

$

92,495

 
Significant Option Groups Exercisable Option and its Price and Contractual Life

Significant option groups outstanding and exercisable at November 30, 2023 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

 

$3.01 to $4.00

 

 

25,000

 

 

 

2.19

 

 

$

3.13

 

 

 

25,000

 

 

$

3.13

 

$4.01 to $5.00

 

 

123,600

 

 

 

4.60

 

 

$

4.70

 

 

 

51,766

 

 

$

4.63

 

$6.01 to $7.00

 

 

14,433

 

 

 

7.19

 

 

$

6.50

 

 

 

14,433

 

 

$

6.50

 

$7.01 to $8.00

 

 

151,145

 

 

 

5.31

 

 

$

7.54

 

 

 

141,243

 

 

$

7.51

 

$9.01 to $10.00

 

 

29,000

 

 

 

4.26

 

 

$

9.37

 

 

 

15,216

 

 

$

9.36

 

$12.01 to $13.00

 

 

16,653

 

 

 

6.73

 

 

$

12.54

 

 

 

12,799

 

 

$

12.58

 

$13.01 to $14.00

 

 

44,447

 

 

 

1.07

 

 

$

13.50

 

 

 

29,628

 

 

$

13.50

 

 

 

404,278

 

 

 

4.48

 

 

$

7.36

 

 

 

290,085

 

 

$

7.50

 
Summary of Non-Vested Options

A summary of the status of the Company’s non-vested options as of November 30, 2023, and changes during the fiscal year then ended, is presented below:

 

 

 

 

 

 

Weighted
Average

 

 

 

 

 

 

Grant-Date

 

 

 

Options

 

 

Fair Value

 

Non-vested at November 30, 2022

 

 

95,486

 

 

$

4.42

 

Granted

 

 

123,600

 

 

 

2.29

 

Vested

 

 

(104,893

)

 

 

3.35

 

Forfeited

 

 

—

 

 

 

—

 

Non-vested at November 30, 2023

 

 

114,193

 

 

$

3.10