Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.19.3
Stockholders' Equity (Tables)
9 Months Ended
Aug. 31, 2019
Fair Value of Options Granted
Variables used to determine the fair value of the options granted for the three and nine months ended August 31, 2019 and August 31, 2018, respectively, are as follows:
 
    Three Months
Ended
    Three Months
Ended
    Nine Months
Ended
    Nine Months
Ended
 
    August 31, 2019     August 31, 2018     August 31, 2019     August 31, 2018  
Weighted average values:
                               
Expected dividends
    0%       —         0%       0%  
Expected volatility
    49.7%       —         49.7%       50.8%  
Risk free interest rate
    1.39%       —         1.40%       2.67%  
Expected life
    5 years       —         5 years       5 years  
Service-Based Vesting Condition Options [Member]  
Stock Option Activity
Stock option activity for options with only service-based vesting conditions for the nine months ended August 31, 2019, was as follows:
 
    Shares     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
    112,465       7.52               735  
Exercised
    (2,500     2.28               14,175  
Expired/forfeited
    (7,500     2.22               39,800  
   
 
 
                   
 
 
 
Outstanding at August 31, 2019
    1,103,830     $ 3.26       4.19     $ 4,728,540  
   
 
 
                   
 
 
 
Exercisable at August 31, 2019
    1,004,312     $ 2.83       3.72     $ 4,727,576  
   
 
 
                   
 
 
 
Significant Option Groups Exercisable Option and its Price and Contractual Life
Significant option groups outstanding and exercisable at August 31, 2019 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
    422,500       2.35     $ 1.73       422,500     $ 1.73  
$2.01 to $ 3.00
    265,000       2.36       2.72       265,000       2.72  
$3.01 to $4.00
    227,229       6.52       3.18       227,229       3.18  
$6.01 to $7.00
    25,000       7.59       6.95       24,167       6.97  
$7.01 to $8.00
    164,101       8.17       7.63       65,416       7.69  
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
      1,103,830       4.19     $ 3.26       1,004,312     $ 2.83  
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Summary of Non-Vested Options
A summary of the status of the Company’s
non-vested
options as of August 31, 2019, and changes during the nine months ended August 31, 2019, is presented below:
 
    Shares     Weighted Average
Grant-Date
Fair Value
 
Non-vested
at November 30, 2018
    40,254     $ 3.06  
Granted
    112,465       3.32  
Vested
    (53,201     3.16  
Forfeited
    —         —    
   
 
 
   
 
 
 
Non-vested
at August 31, 2019
    99,518       3.30