XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.26.1

Leases | 6 Months Ended
--- | ---
May 31, 2026
Leases |
Leases | 5) Leases
| (a) | Right-of-use asset
​
​ | ​ | ​ | ​
​ | ​ | in thousands of dollars
​ | ​ | $ | ​
Balance as at November 30, 2025 | ​ | 117 | ​
Net amortization | ​ | (21) | ​
Balance as at May 31, 2026 | ​ | 96 | ​
​
(b) | Lease liabilities
The Company’s lease arrangement consists of an operating lease for the corporate office. On July 1, 2024, the Company entered into a four-year lease for office space expiring in June 2028. The lease has no extension option. The current monthly lease payment is approximately CDN$9,500 consisting of both base rent and variable operating costs. Total lease expense recorded within general and administrative expenses was comprised of the following components: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | in thousands of dollars
​ | ​ | Six months ended | ​ | ​ | Six months ended | ​
​ | ​ | May 31, 2026 | ​ | ​ | May 31, 2025 | ​
​ | ​ | $ | ​ | ​ | $ | ​
Fixed rent expense | ​ | 25 | ​ | ​ | 25 | ​
Variable rent expense | ​ | 17 | ​ | ​ | 5 | ​
Total lease expense | ​ | 42 | ​ | ​ | 30 | ​
​ Variable lease costs consist primarily of the Company’s portion of operating costs associated with the office space lease as the Company elected to apply the practical expedient not to separate lease and non-lease components. For the six-month period ended May 31, 2025, variable lease costs have been reduced by a refund received for adjusted operating costs. As at May 31, 2026, the remaining lease term is 2.0 years. The discount rate used to measure the lease liability is 9%. Judgment was used in the determination of the incremental borrowing rate which included estimating the Company’s credit rating. Supplemental cash flow information relating to our leases during the six-month period ended May 31, 2026, is as follows:
| ● | Cash paid for base rent included in the measurement of lease liabilities was approximately $24,500.
​ Future minimum payments relating to the lease recognized in our balance sheet as of May 31, 2026 are as follows: ​
​ | ​ | ​ | ​
​ | ​ ​ ​ | in thousands of dollars
​ | ​ | May 31, 2026 |
Fiscal year | ​ | $ | ​
2026 |  | 25 | ​
2027 |  | 50 | ​
2028 |  | 25 | ​
Total undiscounted lease payments |  | 100 | ​
Effect of discounting |  | (8) | ​
Present value of lease payments recognized as lease liability |  | 92 | ​
Less: current portion of lease liability | ​ | (44) | ​
Long-term portion of lease liability | ​ | 48 | ​
​

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
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