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Stockholders' Equity (Tables) | 6 Months Ended
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May 31, 2019
Fair Value of Options Granted | Variables used to determine the fair value of the options granted for the three and six months ended May 31, 2019 and May 31, 2018, respectively, are as follows:
|  | Three Months Ended |  |  | Three Months Ended |  |  | Six Months Ended |  |  | Six Months Ended |
|  | May 31, 2019 |  |  | May 31, 2018 |  |  | May 31, 2019 |  |  | May 31, 2018 |
Weighted average values: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Expected dividends |  |  | 0 | % |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 51.2 | % |  |  | 50.8 | % |  |  | 51.2 | % |  |  | 50.8 | %
Risk free interest rate |  |  | 2.31 | % |  |  | 2.67 | % |  |  | 2.31 | % |  |  | 2.67 | %
Expected life |  |  | 5 years |  |  |  | 5 years |  |  |  | 5 years |  |  |  | 5 years |
Service-Based Vesting Condition Options [Member] |
Stock Option Activity | Stock option activity for options with only service-based vesting conditions for the six months ended May 31, 2019, was as follows:
|  |  |  |  | Weighted |  |  | Weighted Average |  |  |  |
|  |  |  |  | Average |  |  | Remaining |  |  | Aggregate |
|  | Options |  |  | Exercise Price |  |  | Contractual Life (Years) |  |  | Intrinsic Value |
Outstanding at November 30, 2018 |  |  | 1,001,365 |  |  | $ | 2.77 |  |  |  | 3.97 |  |  | $ | 4,580,967 |
Granted |  |  | 1,500 |  |  |  | 7.04 |  |  |  |  |  |  |  | 990 |
Exercised |  |  | (2,500 | ) |  |  | 2.28 |  |  |  |  |  |  |  | 14,175 |
Expired/forfeited |  |  | (7,500 | ) |  |  | 2.22 |  |  |  |  |  |  |  | 41,075 |
Outstanding at May 31, 2019 |  |  | 992,865 |  |  | $ | 2.79 |  |  |  | 3.57 |  |  | $ | 4,889,909 |
Exercisable at May 31, 2019 |  |  | 969,821 |  |  | $ | 2.69 |  |  |  | 3.55 |  |  | $ | 4,868,182 |
Significant Option Groups Exercisable Option and its Price and Contractual Life | Significant option groups outstanding and exercisable at May 31, 2019 and related price and contractual life information are as follows:
|  | Outstanding |  |  | Exercisable |
|  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Average |  |  | Weighted |  |  |  |  |  | Weighted |
Range of Exercise Prices |  | Outstanding |  |  | Remaining Contractual Life (Years) |  |  | Average Exercise Price |  |  | Outstanding |  |  | Average Exercise Price |
$ 1.01 to $2.00 |  |  | 422,500 |  |  |  | 2.44 |  |  | $ | 1.73 |  |  |  | 422,500 |  |  | $ | 1.73 |
$2.01 to $3.00 |  |  | 265,000 |  |  |  | 2.13 |  |  | $ | 2.72 |  |  |  | 265,000 |  |  | $ | 2.72 |
$3.01 to $4.00 |  |  | 227,229 |  |  |  | 6.67 |  |  | $ | 3.18 |  |  |  | 223,062 |  |  | $ | 3.18 |
$6.01 to $7.00 |  |  | 25,000 |  |  |  | 7.84 |  |  | $ | 6.95 |  |  |  | 23,334 |  |  | $ | 6.98 |
$7.01 to $8.00 |  |  | 53,136 |  |  |  | 4.59 |  |  | $ | 7.83 |  |  |  | 35,925 |  |  | $ | 7.82 |
|  |  | 992,865 |  |  |  | 3.57 |  |  | $ | 2.79 |  |  |  | 969,821 |  |  | $ | 2.69 |
Summary of Non-Vested Options | A summary of the status of the Company’s non-vested options as of May 31, 2019, and changes during the six months ended May 31, 2019, is presented below:
|  |  |  |  | Weighted Average |
|  |  |  |  | Grant-Date |
|  | Options |  |  | Fair Value |
Non-vested at November 30, 2018 |  |  | 40,254 |  |  | $ | 3.06 |
Granted |  |  | 1,500 |  |  |  | 3.28 |
Vested |  |  | (18,710 | ) |  |  | 3.23 |
Forfeited |  |  | — |  |  |  | — |
Non-vested at May 31, 2019 |  |  | 23,044 |  |  | $ | 2.94 |

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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