Stockholders' Equity (Tables) - Service-Based Vesting Condition Options [Member]
|
9 Months Ended |
Aug. 31, 2021 |
|---|
| 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, 2021 and August 31, 2020, respectively, are as follows:
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Three Months
Ended
|
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Three Months
Ended
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Nine Months
Ended
|
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Nine Months
Ended
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|
|
|
August 31,
2021
|
|
August 31,
2020
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|
|
August 31,
2021
|
|
|
August 31,
2020
|
|
|
Weighted average values:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expected dividends
|
|
-
|
|
0%
|
|
|
0%
|
|
|
0%
|
|
|
Expected volatility
|
|
-
|
|
51.8%
|
|
|
49.85%
|
|
|
62.60%
|
|
|
Risk free interest rate
|
|
-
|
|
0.42%
|
|
|
1.35%
|
|
|
1.70%
|
|
|
Expected life
|
|
-
|
|
6 years
|
|
|
6 years
|
|
|
9 years
|
|
|
| Stock Option Activity |
Stock option activity for options with only service-based vesting conditions for the nine months ended August 31, 2021, was as follows:
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Weighted
|
|
|
Weighted
Average
|
|
|
|
|
|
|
|
|
|
|
|
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Average
|
|
|
Remaining
|
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Aggregate
|
|
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|
|
Shares
|
|
|
Exercise
Price
|
|
|
Contractual
Term (Years)
|
|
|
Intrinsic
Value
|
|
|
Outstanding at November 30, 2020
|
|
|
1,174,943
|
|
|
$
|
3.72
|
|
|
|
3.42
|
|
|
$
|
4,502,324
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted
|
|
|
20,000
|
|
|
|
9.50
|
|
|
|
|
|
|
|
42,000
|
|
|
Exercised
|
|
|
(625,300
|
)
|
|
|
2.33
|
|
|
|
|
|
|
|
4,089,333
|
|
|
Expired/forfeited
|
|
|
—
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|
|
|
—
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|
|
|
|
|
|
—
|
|
|
|
|
|
|
|
|
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|
Outstanding at August 31, 2021
|
|
|
569,643
|
|
|
$
|
5.45
|
|
|
|
5.24
|
|
|
$
|
3,505,096
|
|
|
Exercisable at August 31, 2021
|
|
|
501,150
|
|
|
$
|
5.05
|
|
|
|
5.02
|
|
|
$
|
3,283,299
|
|
|
| Significant Option Groups Exercisable Option and its Price and Contractual Life |
Significant option groups outstanding and exercisable at August 31, 2021 and related price and contractual life information are as follows:
|
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Outstanding
|
|
|
Exercisable
|
|
|
|
|
|
|
|
|
Weighted
Average
|
|
|
Weighted
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Remaining
|
|
|
Average
|
|
|
|
|
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|
Average
|
|
|
Range of Exercise Prices
|
|
Outstanding
|
|
|
Contractual
Life (Years)
|
|
|
Exercise
Price
|
|
|
Outstanding
|
|
|
Exercise
Price
|
|
|
$1.01 to $ 2.00
|
|
|
22,500
|
|
|
|
1.88
|
|
|
$
|
1.95
|
|
|
|
22,500
|
|
|
$
|
1.95
|
|
|
$2.01 to $ 3.00
|
|
|
45,000
|
|
|
|
1.88
|
|
|
|
2.22
|
|
|
|
45,000
|
|
|
|
2.22
|
|
|
$3.01 to $4.00
|
|
|
204,729
|
|
|
|
4.48
|
|
|
|
3.14
|
|
|
|
204,729
|
|
|
|
3.14
|
|
|
$6.01 to $7.00
|
|
|
3,833
|
|
|
|
4.84
|
|
|
|
6.52
|
|
|
|
3,388
|
|
|
|
6.51
|
|
|
$7.01 to $8.00
|
|
|
266,581
|
|
|
|
6.55
|
|
|
|
7.64
|
|
|
|
224,133
|
|
|
|
7.62
|
|
|
$9.01 to $10.00
|
|
|
27,000
|
|
|
|
6.44
|
|
|
|
9.40
|
|
|
|
1,400
|
|
|
|
9.10
|
|
|
|
|
|
569,643
|
|
|
|
5.24
|
|
|
$
|
5.45
|
|
|
|
501,150
|
|
|
$
|
5.05
|
|
|
| Summary of Non-Vested Options |
A summary of the status of the Company’s non-vested options as of August 31, 2021, and changes during the nine months ended August 31, 2021, is presented below:
|
|
|
|
|
|
|
Weighted
Average
|
|
|
|
|
|
|
|
|
Grant-Date
|
|
|
|
|
Shares
|
|
|
Fair Value
|
|
|
Non-vested at November 30, 2020
|
|
|
93,380
|
|
|
$
|
4.65
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted
|
|
|
20,000
|
|
|
|
4.56
|
|
|
Vested
|
|
|
(44,887
|
)
|
|
|
5.00
|
|
|
Forfeited
|
|
|
—
|
|
|
|
—
|
|
|
Non-vested at August 31, 2021
|
|
|
68,493
|
|
|
$
|
4.39
|
|
|