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Note 5 - Business Combinations

12 Months Ended

Nov. 30, 2023

Notes to Financial Statements

Business Combination Disclosure [Text Block]

5. BUSINESS COMBINATIONS

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.  Trademarks have an indefinite life as the Company intends to renew the trademarks indefinitely. 

Cash		$	300
Accounts receivable			38
Inventory			36
Trademarks			360
Customer list intangible			70
Accounts payable			(59	)
Deferred revenue			(14	)
Goodwill			1,442
Net assets acquired		$	2,173

Adjustments were made to the acquired assets and liabilities subsequent to the acquisition date. 

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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
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-5

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-Topic 805
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//805/tableOfContent

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- References

No definition available.

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