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Note 6 - Acquisitions | 6 Months Ended
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May 31, 2023
Notes to Financial Statements |
Business Combination Disclosure [Text Block] |
6. | ACQUISITIONS
Business Combination Fox Labs International On May 25, 2022, the Company acquired Fox Labs International, a producer of defensive pepper sprays, catering primarily to law enforcement and other security professionals (domestically and internationally). The cash consideration was $2.2 million. There were no acquisition-related expenses. As part of the transaction, the Company acquired 10 trademarks. The Company classified and designated identifiable assets acquired and assessed and determined the useful lives of the acquired intangible assets subject to amortization. The estimated fair values of assets acquired and liabilities assumed on May 25, 2022 are as follows (in thousands):
Cash |  | $ | 300 |
Accounts receivable |  |  | 38 |
Inventory |  |  | 36 |
Trademarks |  |  | 360 |
Customer list intangible |  |  | 70 |
Accounts payable |  |  | (59 | )
Deferred revenue |  |  | (14 | )
Goodwill |  |  | 1,442 |
Total acquired assets |  | $ | 2,173 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent + Details
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