XML 34 R25.htm IDEA: XBRL DOCUMENT
v3.23.3

Note 19 - Leases | 9 Months Ended
--- | ---
Aug. 31, 2023
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
19. | LEASES
Operating Leases The Company has operating leases for real estate in the United States and South Africa and does not have any finance leases. In 2019, the Company entered into a real estate lease for office space in Andover, Massachusetts. In August 2021, the lease was amended to include additional space and extend the term of the existing space by one year. The new lease expiration date is February 29, 2028. The base rent is approximately $0.02 million per month. The Company leases office and warehouse space in South Africa that expires in December 2024. The base rent is approximately $0.07 million per month. The Company leases warehouse and manufacturing space in Fort Wayne, Indiana. The lease expires on July 31, 2025. The base rent is approximately $0.01 million per month. Commencing in August 2022, the Company sub-leases the former Fort Wayne facility. The amount received from the sub-lease is immaterial. In November 2021, the Company entered into a lease which commenced in August 2022. The lease expires on July 31, 2027. The base rent is approximately $0.02 million per month. The Company also leases office space in Las Vegas, Nevada, which expires on January 31, 2027. The base rent is less than $0.01 million per month. Certain of the Company’s leases contain options to renew and extend lease terms and options to terminate leases early. Reflected in the right-of-use asset and lease liability on the Company’s balance sheets are the periods provided by renewal and extension options that the Company is reasonably certain to exercise, as well as the periods provided by termination options that the Company is reasonably certain to not exercise. As of August 31, 2023 and 2022, the elements of lease expense were as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | August 31, 2023 |  |  | August 31, 2023 |
Lease Cost: |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 165 |  |  | $ | 499 |
Short-term lease cost |  |  | 1 |  |  |  | 9 |
Total lease cost |  | $ | 166 |  |  | $ | 508 |
Other Information: |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 166 |  |  | $ | 516 |
Operating lease liabilities arising from obtaining right-of-use assets |  | $ | — |  |  | $ | — |
Operating Leases: |  |  |  |  |  |  |  |
Weighted-average remaining lease term (in years) |  |  |  |  |  |  | 3.8 |
Weighted-average discount rate |  |  |  |  |  |  | 9.3 | %
Future lease payments under non-cancelable operating leases as of August 31, 2023 are as follows (in thousands):
Fiscal Year Ending November 30, |  |  |  |
2023 (three months) |  | $ | 165 |
2024 |  |  | 680 |
2025 |  |  | 584 |
2026 |  |  | 527 |
2027 |  |  | 263 |
Thereafter |  |  | 184 |
Total lease payments |  |  | 2,403 |
Less: imputed interest |  |  | 383 |
Present value of operating lease liabilities |  | $ | 2,020 |
Operating lease liabilities, current |  | $ | 653 |
Operating lease liabilities, non-current |  | $ | 1,367 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration