| Schedule of Note Payable Obligation |
As of May 31, 2021, and November 30, 2020, the note payable obligation was as follows:
|
|
|
May 31,
2021
|
|
|
November 30,
2020
|
|
|
Note payable
|
|
$
|
3,458,433
|
|
|
$
|
6,008,433
|
|
|
Unamortized debt issuance costs
|
|
|
(32,147
|
)
|
|
|
(67,219
|
)
|
|
Net note payable
|
|
$
|
3,426,286
|
|
|
$
|
5,941,214
|
|
|
|
|
|
|
|
|
|
|
|
|
Current portion of note payable
|
|
$
|
3,100,000
|
|
|
$
|
3,100,000
|
|
|
Long-term note payable, net of debt issuance costs
|
|
|
326,286
|
|
|
|
2,841,214
|
|
|
Total
|
|
$
|
3,426,286
|
|
|
$
|
5,941,214
|
|
|
| Summary of Interest Expense on Note Payable |
Interest expense on the note payable for the three and six months ended May 31, 2021 and May 31, 2020 was as follows:
|
|
|
For the three
months ended
May 31,
2021
|
|
|
For the six
months ended
May 31,
2021
|
|
|
Interest expense on notes payable
|
|
$
|
32,894
|
|
|
$
|
73,432
|
|
|
Debt issuance costs
|
|
|
15,390
|
|
|
|
35,072
|
|
|
Total interest expense
|
|
$
|
48,284
|
|
|
$
|
108,504
|
|
|
|
|
For the three
months ended
May 31,
2020
|
|
|
For the six
months ended
May 31,
2020
|
|
|
Interest expense on notes payable
|
|
$
|
81,604
|
|
|
$
|
191,384
|
|
|
Debt issuance costs
|
|
|
22,337
|
|
|
|
46,818
|
|
|
Total interest expense
|
|
$
|
103,941
|
|
|
$
|
238,202
|
|
|