Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.1
Stockholders' Equity (Tables) - Service-Based Vesting Condition Options [Member]
3 Months Ended
Feb. 29, 2020
Fair Value of Options Granted
Variables used to determine the fair value of the options granted for the three months ended February 29, 2020 are as follows:
 
     Three months ended February 29, 2020
 
Weighted average values:   
Expected dividends
   0
%
Expected volatility
   64.25
%
Risk free interest rate
   1.90
%
Expected life
   9.0 years
 
Stock Option Activity
Stock option activity for the three months ended February 29, 2020, was as follows:
 
     Options      Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Life (Years)
     Aggregate
Intrinsic
Value
 
Outstanding at November 30, 2019
     1,089,774      $ 3.30        3.91      $ 4,648,111  
Granted
     44,969        7.26                 813  
Exercised
     (20,000      2.05                 102,800  
Expired/forfeited
                             
  
 
 
          
Outstanding at February 29, 2020
     1,114,743      $ 3.49        3.94      $ 4,192,762  
  
 
 
          
 
 
 
Exercisable at February 29, 2020
     1,006,623      $ 3.06        3.39      $ 4,191,626  
  
 
 
          
 
 
 
Significant Option Groups Exercisable Option and its Price and Contractual Life
Significant option groups exercisable at February 29, 2020 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        1.85      $ 1.73        422,500      $ 1.73  
$2.01 to $3.00
     245,000        1.85      $ 2.78        245,000      $ 2.78  
$3.01 to $4.00
     204,729        5.98      $ 3.14        204,729      $ 3.14  
$6.01 to $7.00
     3,833        6.35      $ 6.52        2,111      $ 6.51  
$7.01 to $8.00
     238,681        7.99      $ 7.57        132,283      $ 7.62  
  
 
 
          
 
 
    
     1,114,743        3.94      $ 3.49        1,006,623      $ 3.06  
  
 
 
          
 
 
    
Summary of Non-Vested Options
A summary of the status of the Company’s
non-vested
options as of February 29, 2020, and changes during the three months ended February 29, 2020, is presented below:
     Options      Weighted Average
Grant-Date
Fair Value
 
Non-vested
at November 30, 2019
     125,234      $ 4.70  
Granted
     44,969        5.03  
Vested
     (62,083      4.51  
Forfeited
             
  
 
 
    
Non-vested
at February 29, 2020
     108,120      $ 4.95