Quarterly report pursuant to Section 13 or 15(d)

Note Payable (Tables)

v3.20.1
Note Payable (Tables)
 3 Months Ended
Feb. 29, 2020
Debt Disclosure [Abstract]  
Schedule of Note Payable Obligation
As of February 29, 2020 and November 30, 2019, the note payable obligation was as follows:
 
     February 29, 2020      November 30, 2019  
Note payable
    $  8,333,433      $  9,108,433  
Unamortized debt issuance costs
      (127,800 )       (152,281 ) 
  
 
 
     
 
 
  
Net note payable
    $ 8,205,633      $ 8,956,152  
  
 
 
     
 
 
  
Current portion of note payable
    $ 3,100,000      $ 3,100,000  
Long-term note payable, net of debt issuance costs
      5,105,633        5,856,152  
  
 
 
     
 
 
  
Total
    $ 8,205,633      $ 8,956,152  
  
 
 
     
 
 
  
Summary of Interest Expense on Note Payable
Interest expense on the note payable for the three months ended February 29, 2020 and February 28, 2019 was as follows:
 
     February 29, 2020      February 28, 2019  
Interest expense on notes payable
    $  109,780      $  180,244  
Debt issuance costs
      24,481        29,894  
  
 
 
     
 
 
  
Total interest expense
    $ 134,261      $ 210,138