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Stockholders' Equity (Tables)
9 Months Ended
Aug. 31, 2019
Fair Value of Options Granted
Variables used to determine the fair value of the options granted for the three and nine months ended August 31, 2019 and August 31, 2018, respectively, are as follows:
 
  Three Months
Ended
  Three Months
Ended
  Nine Months
Ended
  Nine Months
Ended
 
  August 31, 2019  August 31, 2018  August 31, 2019  August 31, 2018 
Weighted average values:
                
Expected dividends
  0%   —     0%   0% 
Expected volatility
  49.7%   —     49.7%   50.8% 
Risk free interest rate
  1.39%   —     1.40%   2.67% 
Expected life
  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 nine months ended August 31, 2019, was as follows:
 
  Shares  Weighted
Average
Exercise
Price
  Weighted
Average
Remaining
Contractual
Term (Years)
  Aggregate
Intrinsic
Value
 
Outstanding at November 30, 2018
  1,001,365  $2.77   3.97  $ 4,580,967 
Granted
  112,465   7.52       735 
Exercised
  (2,500  2.28       14,175 
Expired/forfeited
  (7,500  2.22       39,800 
  
 
 
          
 
 
 
Outstanding at August 31, 2019
  1,103,830  $3.26   4.19  $4,728,540 
  
 
 
          
 
 
 
Exercisable at August 31, 2019
  1,004,312  $2.83   3.72  $4,727,576 
  
 
 
          
 
 
 
Significant Option Groups Exercisable Option and its Price and Contractual Life
Significant option groups outstanding and exercisable at August 31, 2019 and related price and contractual life information are as follows:
 
  Outstanding  Exercisable 
Range of Exercise Prices
 Outstanding  Weighted
Average
Remaining
Contractual
Life (Years)
  Weighted
Average
Exercise
Price
  Outstanding  Weighted
Average
Exercise Price
 
$1.01 to $ 2.00
  422,500   2.35  $1.73   422,500  $1.73 
$2.01 to $ 3.00
  265,000   2.36   2.72   265,000   2.72 
$3.01 to $4.00
  227,229   6.52   3.18   227,229   3.18 
$6.01 to $7.00
  25,000   7.59   6.95   24,167   6.97 
$7.01 to $8.00
  164,101   8.17   7.63   65,416   7.69 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
   1,103,830   4.19  $3.26   1,004,312  $2.83 
  
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
Summary of Non-Vested Options
A summary of the status of the Company’s
non-vested
options as of August 31, 2019, and changes during the nine months ended August 31, 2019, is presented below:
 
  Shares  Weighted Average
Grant-Date
Fair Value
 
Non-vested
at November 30, 2018
  40,254  $3.06 
Granted
  112,465   3.32 
Vested
  (53,201  3.16 
Forfeited
  —     —   
  
 
 
  
 
 
 
Non-vested
at August 31, 2019
  99,518   3.30