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INCOME (LOSS) PER SHARE / EARNINGS PER SHARE | 6 Months Ended | 12 Months Ended
--- | --- | ---
May 31, 2021 | Nov. 30, 2020
Earnings Per Share [Abstract] |  |
INCOME (LOSS) PER SHARE / EARNINGS PER SHARE |
19. | INCOME (LOSS) PER SHARE
For the three and six months ended May 31, 2021, the Company recorded net income. As such, the Company used diluted weighted-average common shares outstanding when calculating diluted income per share for the three and six months ended May 31, 2021. Warrants, stock options, and RSUs that could potentially dilute basic earnings per share (“EPS”) in the future are included in the computation of diluted income per share. For the three and six months ended May 31, 2020, the Company recorded a net loss. As such, because the dilution from potential common shares was antidilutive, the Company used basic weighted-average common shares outstanding, rather than diluted weighted-average common shares outstanding when calculating diluted loss per share for the three and six months ended May 31, 2020. Preferred Stock, warrants, stock options, and RSUs that could potentially dilute basic EPS in the future that were not included in the computation of diluted loss per share were as follows:
|  | For the Three Months Ended May 31, 2020 |  |  | For the Six Months Ended May 31, 2020 |
Series A Preferred Stock |  |  | 4,636,667 |  |  |  | 4,636,667 |
Warrants |  |  | 2,783,702 |  |  |  | 2,783,702 |
Stock Options |  |  | 672,667 |  |  |  | 672,667 |
RSUs |  |  | — |  |  |  | — |
Total |  |  | 8,093,036 |  |  |  | 8,093,036 |
The following table sets forth the allocation of net income (loss) for the three and six months ended May 31, 2021 and 2020, respectively:
|  | For the Three Months Ended May 31, |  | For the Six Months Ended May 31,
|  | 2021 |  | 2020 |  | 2021 |  | 2020
Net income (loss) |  | $ | 2,037 |  |  | $ | (8,061 | ) |  | $ | 1,765 |  |  | $ | (10,346 | )
Net income applicable to preferred stock |  |  | (1,043 | ) |  |  | — |  |  |  | (1,043 | ) |  |  | — |
Income available to common shareholders |  | $ | 994 |  |  | $ | (8,061 | ) |  | $ | 722 |  |  | $ | (10,346 | )
The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three and six months ended May 31, 2021 and 2020:
|  | For the Three Months Ended May 31, |  |  | For the Six Months Ended May 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Weighted-average common shares outstanding- basic |  |  | 17,800,749 |  |  |  | 12,068,759 |  |  |  | 16,359,496 |  |  |  | 11,271,719 |
Assumed conversion of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilutive Stock Options |  |  | 597,214 |  |  |  | — |  |  |  | 600,918 |  |  |  | — |
Dilutive Warrants |  |  | 304,883 |  |  |  | — |  |  |  | 399,332 |  |  |  | — |
Dilutive RSUs |  |  | 286,385 |  |  |  | — |  |  |  | 244,385 |  |  |  | — |
Weighted-average common share outstanding- diluted |  |  | 18,989,231 |  |  |  | 12,068,759 |  |  |  | 17,604,131 |  |  |  | 11,271,719 |
1,155,000 RSUs outstanding during the three and six months ended March 31, 2021, were not included in the computation of diluted earnings per share because they are contingently issuable shares. The following were excluded from the calculation of diluted net income per share for the three and six months ended May 31, 2021 because their effects are anti-dilutive:
|  | For the Three Months Ended May 31, 2021 |  | For the Six Months Ended May 31, 2021
Antidilutive securities: |  |  |  |  |  |  |  |
Options |  |  | 638,000 |  |  |  | 518,000 |
RSUs |  |  | 50,000 |  |  |  | 68,493 |
Total antidilutive securities |  |  | 688,000 |  |  |  | 586,493 |
16. | EARNINGS PER SHARE
The Company’s potential dilutive securities, which include Series A Preferred stock, stock options, and outstanding warrants to purchase shares of common stock, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The following potential common shares, presented based on amounts outstanding at each period end, were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:
|  | November 30, |
|  | 2020 |  |  | 2019 |
Series A Preferred Stock |  |  | 46,366,490 |  |  |  | — |
Warrants |  |  | 5,857,386 |  |  |  | 45,787,219 |
Stock Options |  |  | 7,059,667 |  |  |  | 2,911,667 |
Restricted Stock |  |  | 15,735,000 |  |  |  | — |
Total |  |  | 75,018,543 |  |  |  | 48,698,886 |

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