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Note 8 - Leases | 12 Months Ended
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Nov. 30, 2023
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | NOTE 8 – LEASES The Company leases office space under non-cancelable operating leases with original lease terms of five years. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain of these leases also include renewal options at the election of the Company to renew or extend the lease for an additional five years. These optional periods have not been considered in the determination of ROU assets or lease liabilities associated with these leases as management did not consider it reasonably certain it would exercise the options. Certain of our leases include payments that vary based on the Company’s level of usage and operations. These variable payments are not included within ROU assets and lease liabilities in the Consolidated Balance Sheets. Additionally, short-term leases, which have an initial term of 12 months or less, are not recorded in the Consolidated Balance Sheets. Lease expenses are included in General and administrative expense – Office expense on the Consolidated Statements of Loss and include the following components:
|  | Years ended November 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Operating lease cost |  | $ | 232 |  |  | $ | 234 |  |  | $ | 235 |
Variable lease cost |  |  | 121 |  |  |  | 126 |  |  |  | 122 |
Short-term lease cost |  |  | 5 |  |  |  | 5 |  |  |  | 4 |
|  | $ | 358 |  |  | $ | 365 |  |  | $ | 361 |
Future minimum lease payments under non-cancellable operating leases as of November 30, 2023, were as follows:
2024 |  | $ | 234 |
2025 |  |  | 157 |
2026 |  |  | 154 |
2027 |  |  | 159 |
2028 |  |  | 164 |
Thereafter |  |  | 56 |
Total future minimum lease payments |  |  | 924 |
Less: imputed interest |  |  | (123 | )
|  | $ | 801 |
Other information regarding leases includes the following:
|  | Years ended November 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cash paid for operating leases |  | $ | 193 |  |  | $ | 238 |  |  | $ | 235 |
Variable lease cost |  |  | 121 |  |  |  | 126 |  |  |  | 127 |
Short-term lease cost |  |  | 5 |  |  |  | 5 |  |  |  | 5 |
|  | $ | 319 |  |  | $ | 369 |  |  | $ | 367 |
ROU assets obtained in exchange for lease liabilities |  | $ | — |  |  | $ | 750 |  |  | $ | — |
Weighted average: |  |  |  |  |  |  |  |  |  |  |  |
Remaining lease term (years) – operating leases |  |  | 4.8 |  |  |  | 5.6 |  |  |  | 2.3 |
Discount rate – operating leases |  |  | 5.9 | % |  |  | 5.8 | % |  |  | 5.0 | %

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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