Stockholders' Equity (Tables) - Service-Based Vesting Condition Options [Member]
|
9 Months Ended |
Aug. 31, 2020 |
|---|
| 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, 2020 and August 31, 2019, respectively, are as follows:
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|
|
Three Months
Ended
|
|
|
Three Months
Ended
|
|
|
Nine Months
Ended
|
|
|
Nine Months
Ended
|
|
|
|
|
August 31,
2020
|
|
|
August 31,
2019
|
|
|
August 31,
2020
|
|
|
August 31,
2019
|
|
|
Weighted average values:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expected dividends
|
|
0%
|
|
|
0%
|
|
|
0%
|
|
|
0%
|
|
|
Expected volatility
|
|
51.8%
|
|
|
49.7%
|
|
|
62.6%
|
|
|
49.7%
|
|
|
Risk free interest rate
|
|
0.42%
|
|
|
1.39%
|
|
|
1.70%
|
|
|
1.40%
|
|
|
Expected life
|
|
6 years
|
|
|
5 years
|
|
|
9 years
|
|
|
5 years
|
|
|
| Stock Option Activity |
Stock option activity for options with only service-based vesting conditions for the nine months ended August 31, 2020, was as follows:
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|
|
|
|
|
|
Weighted
|
|
|
Weighted
Average
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
Remaining
|
|
|
Aggregate
|
|
|
|
|
Shares
|
|
|
Exercise
Price
|
|
|
Contractual
Term (Years)
|
|
|
Intrinsic
Value
|
|
|
Outstanding at November 30, 2019
|
|
|
1,089,774
|
|
|
$
|
3.30
|
|
|
|
3.91
|
|
|
$
|
4,648,111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted
|
|
|
51,969
|
|
|
|
7.51
|
|
|
|
|
|
|
|
49,989
|
|
|
Exercised
|
|
|
(20,000
|
)
|
|
|
2.05
|
|
|
|
|
|
|
|
102,800
|
|
|
Expired/forfeited
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Outstanding at August 31, 2020
|
|
|
1,121,743
|
|
|
$
|
3.52
|
|
|
|
3.47
|
|
|
$
|
5,444,134
|
|
|
Exercisable at August 31, 2020
|
|
|
1,047,166
|
|
|
$
|
3.23
|
|
|
|
3.08
|
|
|
$
|
5,380,026
|
|
|
| Significant Option Groups Exercisable Option and its Price and Contractual Life |
Significant option groups outstanding and exercisable at August 31, 2020 and related price and contractual life information are as follows:
|
|
|
Outstanding
|
|
|
Exercisable
|
|
|
|
|
|
|
|
|
Weighted
Average
|
|
|
Weighted
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Remaining
|
|
|
Average
|
|
|
|
|
|
|
Average
|
|
|
Range of Exercise Prices
|
|
Outstanding
|
|
|
Contractual
Life (Years)
|
|
|
Exercise
Price
|
|
|
Outstanding
|
|
|
Exercise
Price
|
|
|
$1.01 to $ 2.00
|
|
|
422,500
|
|
|
|
1.34
|
|
|
$
|
1.73
|
|
|
|
422,500
|
|
|
$
|
1.73
|
|
|
$2.01 to $ 3.00
|
|
|
245,000
|
|
|
|
1.35
|
|
|
|
2.78
|
|
|
|
245,000
|
|
|
|
2.78
|
|
|
$3.01 to $4.00
|
|
|
204,729
|
|
|
|
5.48
|
|
|
|
3.14
|
|
|
|
204,729
|
|
|
|
3.14
|
|
|
$6.01 to $7.00
|
|
|
3,833
|
|
|
|
5.84
|
|
|
|
6.52
|
|
|
|
2,944
|
|
|
|
6.51
|
|
|
$7.01 to $8.00
|
|
|
238,681
|
|
|
|
7.49
|
|
|
|
7.57
|
|
|
|
171,993
|
|
|
|
7.62
|
|
|
$9.01 to $10.00
|
|
|
7,000
|
|
|
|
9.94
|
|
|
|
9.10
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
1,121,743
|
|
|
|
3.47
|
|
|
$
|
3.52
|
|
|
|
1,047,166
|
|
|
$
|
3.23
|
|
|
| Summary of Non-Vested Options |
A summary of the status of the Company’s non-vested options as of August 31, 2020, and changes during the nine months ended August 31, 2020, is presented below:
|
|
|
|
|
|
|
Weighted
Average
|
|
|
|
|
|
|
|
|
Grant-Date
|
|
|
|
|
Shares
|
|
|
Fair Value
|
|
|
Non-vested at November 30, 2019
|
|
|
125,234
|
|
|
$
|
4.70
|
|
|
|
|
|
|
|
|
|
|
|
|
Granted
|
|
|
51,969
|
|
|
|
4.94
|
|
|
Vested
|
|
|
(102,626
|
)
|
|
|
4.62
|
|
|
Forfeited
|
|
|
—
|
|
|
|
—
|
|
|
Non-vested at August 31, 2020
|
|
|
74,577
|
|
|
$
|
4.98
|
|
|