Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.3.1.900
Stockholders' Equity (Tables)
12 Months Ended
Nov. 30, 2015
Significant Option Groups Outstanding and Exercisable Option and its Price and Contractual Life

Significant option groups outstanding and exercisable at November 30, 2015 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
 

$0.42 to $1.00

     0         0.00       $ 0.00         0       $ 0.00   

$1.01 to $2.00

     465,930         5.48       $ 1.72         465,930       $ 1.72   

$2.01 to $3.00

     480,500         4.48       $ 2.56         480,500       $ 2.56   

$3.01 to $4.00

     22,500         6.61       $ 3.08         7,497       $ 3.08   
  

 

 

       

 

 

    

 

 

    
     968,930         5.01       $ 2.17         953,927       $ 2.16   
  

 

 

       

 

 

    

 

 

    
Summary of Non-Vested Options

A summary of the status of the Company’s non-vested options as of November 30, 2015, and changes during the fiscal year then ended, is presented below:

 

     Options      Weighted Average
Grant-Date
Fair Value
 

Non-vested at November 30, 2014

     27,083       $ 1.64   

Granted

     22,500         1.90   

Vested

     (34,580      1.70   

Forfeited

     —           —     
  

 

 

    

Non-vested at November 30, 2015

     15,003       $ 1.90   
  

 

 

    
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, 2015 and November 30, 2014 are as follows:

 

     2015     2014  

Weighted average values:

    

Expected dividends

     0     0

Expected volatility

     75.50     84.00

Risk free interest rate

     1.57     1.69

Expected life

     5.0 years        5.0 years   
Stock Option Activity for Options

Stock option activity for options with only service-based vesting conditions for the year ended November 30, 2015, was as follows:

 

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

Outstanding at November 30, 2014

     997,266       $ 2.14         5.84       $ 661,466   

Granted

     22,500         3.08            4,950   

Exercised

     (35,000      2.00            39,325   

Expired/forfeited

     (15,836      2.08            19,370   
  

 

 

          

Outstanding at November 30, 2015

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

 

 

          

 

 

 

Exercisable at November 30, 2015

     953,927       $ 2.16         4.99       $ 1,092,224