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Note 10 - Property and Equipment
 9 Months Ended
Aug. 31, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

10.

PROPERTY AND EQUIPMENT

 

The following table summarizes cost and accumulated depreciation (in thousands):

 

  

August 31,

  

November 30,

 
  

2023

  

2022

 

Computer equipment and software

 $818  $328 

Furniture and fixtures

  268   392 

Leasehold improvements

  990   910 

Machinery and equipment

  2,980   2,531 
   5,056   4,161 

Less: accumulated depreciation

  1,418   852 

Total

 $3,638  $3,309 

 

The Company recognized approximately $0.7 million and $0.4 million in depreciation expense during the nine months ended August 31, 2023 and 2022, respectively.  The Company recognized approximately $0.3 million and $0.2 million in depreciation expense during the three months ended August 31, 2023 and 2022, respectively.  Depreciation expense is presented in the operating expenses and within cost of goods sold in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss.

 

Management identified certain property and equipment items that are no longer being used in production.  The Company recorded an impairment loss during the nine months ended August 31, 2023 and 2022 for certain machinery and equipment assets that are no longer in use totaling $0.2 million in the other expenses line in the accompanying Condensed Consolidated Statement of Operations and Comprehensive Loss. 

 

At August 31, 2023 and November 30, 2022, the Company had deposits of $1.5 million and $2.3 million, respectively, with vendors primarily for supply of machinery (molds) and equipment where the vendors have not completed the supply of these assets and is presented as Deposits for equipment in the Condensed Consolidated Balance Sheets.