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Note Payable (Tables)

12 Months Ended

Nov. 30, 2019

Debt Disclosure [Abstract]

Schedule of Note Payable Obligation

As of November 30, 2019, and November 30, 2018, the note payable obligation was as follows:

		November 30, 2019				November 30, 2018
Note payable		$	9,108,433			$	13,208,433
Unamortized debt issuance costs			(152,281	)			(264,923	)
Net note payable		$	8,956,152			$	12,943,510
Current portion of note payable		$	3,100,000			$	3,100,000
Long-term note payable, net of debt issuance costs			5,856,152				9,843,510
Total		$	8,956,152			$	12,943,510

Summary of Future Principal Payments under the Note Payable Obligation

Future principal payments under the note payable obligation are as follows:

Years ending November 30:		Amount
2020			3,100,000
2021			3,100,000
2022			2,908,433
Total		$	9,108,433

Summary of Interest Expense on Note Payable

Interest expense on the note payable for the years ended November 30, 2019 and November 30, 2018 was as follows:

		November 30, 2019				November 30, 2018
Interest expense on notes payable		$	646,744			$	589,583
Debt issuance costs			112,642				109,293
Total interest expense		$	759,386			$	698,876

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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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