Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.2
Stockholders' Equity (Tables) - Service-Based Vesting Condition Options [Member]
6 Months Ended
May 31, 2020
Fair Value of Options Granted
Variables used to determine the fair value of the options granted for the three and six months ended May 31, 2020 and May 31, 2019, respectively, are as follows:
 
     Three Months
Ended
     Three Months
Ended
    Six Months
Ended
    Six Months
Ended
 
     May 31, 2020      May 31, 2019     May 31, 2020     May 31, 2019  
Weighted average values:
         
Expected dividends
     —          0     0     0
Expected volatility
     —          51.2     64.25     51.2
Risk free interest rate
     —          2.31     1.90     2.31
Expected life
     —          5 years       9 years       5 years  
Stock Option Activity
Stock option activity for options with only service-based vesting conditions for the six months ended May 31, 2020, was as follows:
 
            Weighted      Weighted
Average
        
            Average      Remaining      Aggregate  
     Options      Exercise
Price
     Contractual
Life (Years)
     Intrinsic
Value
 
Outstanding at November 30, 2019
     1,089,774      $ 3.30        3.91      $ 4,648,111  
Granted
     44,969        7.26           6,369  
Exercised
     (20,000      2.05           102,800  
Expired/forfeited
     —          —             —    
  
 
 
          
Outstanding at May 31, 2020
     1,114,743      $ 3.49        3.69      $ 4,409,680  
  
 
 
          
 
 
 
Exercisable at May 31, 2020
     1,018,873      $ 3.11        3.20      $ 4,404,284  
  
 
 
          
 
 
 
Significant Option Groups Exercisable Option and its Price and Contractual Life
Significant option groups outstanding and exercisable at May 31, 2020 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
 
$1.01 to $2.00     422,500       1.60     $ 1.73       422,500     $ 1.73  
$2.01 to $3.00     245,000       1.60     $ 2.78       245,000     $ 2.78  
$3.01 to $4.00     204,729       5.73     $ 3.14       204,729     $ 3.14  
$6.01 to $7.00     3,833       6.10     $ 6.52       2,111     $ 6.51  
$7.01 to $8.00     238,681       7.75     $ 7.57       144,533     $ 7.63  
 
 
 
       
 
 
   
    1,114,743       3.69     $ 3.49       1,018,873     $ 3.11  
 
 
 
       
 
 
   
Summary of Non-Vested Options
A summary of the status of the Company’s
non-vested
options as of May 31, 2020, and changes during the six months ended May 31, 2020, is presented below:
 
            Weighted Average  
            Grant-Date  
     Options      Fair Value  
Non-vested
at November 30, 2019
     125,234      $ 4.70  
Granted
     44,969        5.03  
Vested
     (74,333      4.51  
Forfeited
     —          —    
  
 
 
    
Non-vested
at May 31, 2020
     95,870      $ 5.00