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Stockholders' Equity (Tables)
12 Months Ended
Nov. 30, 2019
Fair Value of Options Granted
Variables used to determine the fair value of the options granted for the years ended November 30, 2019 and November 30, 2018 are as follows:
 
   2019  2018 
Weighted average values:
   
Expected dividends
   0%   0% 
Expected volatility
   64.02%   50.85% 
Risk free interest rate
   1.55%   2.67% 
Expected life
   8.4 years   5.0 years 
Service-Based Vesting Condition Options [Member]  
Stock Option Activity
Stock option activity for options with only service-based vesting conditions for the year ended November 30, 2019, was as follows:
 
   Options   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
   143,409    7.55    0    4,851 
Exercised
   (2,500   2.28    0    14,175 
Expired/forfeited
   (52,500   4.82    0    143,450 
  
 
 
       
Outstanding at November 30, 2019
   1,089,774    3.30    3.91   $4,648,111 
  
 
 
       
 
 
 
Exercisable at November 30, 2019
   964,540    2.75    3.33   $4,644,277 
  
 
 
       
 
 
 
Significant Option Groups Exercisable Option and its Price and Contractual Life
Significant option groups outstanding and exercisable at November 30, 2019 and related price and contractual life information are as follows:
 
   Outstanding   Exercisable 
       Weighted
Average
             
       Remaining   Weighted       Weighted 
Range of Exercise Prices
  Outstanding   Contractual
Life (Years)
   Average
Exercise Price
   Outstanding   Average
Exercise Price
 
$1.01 to $2.00
   422,500    2.10   $1.73    422,500   $1.73 
$2.01 to $3.00
   265,000    2.11   $2.72    265,000   $2.72 
$3.01 to $4.00
   204,729    6.23   $3.14    204,729   $3.14 
$6.01 to $7.00
   2,500    4.65   $6.50    1,667   $6.50 
$7.01 to $8.00
   195,045    7.84   $7.63    70,644   $7.67 
  
 
 
     
 
 
   
 
 
   
   1,089,774    3.91   $3.30    964,540   $2.75 
  
 
 
     
 
 
   
 
 
   
Summary of Non-Vested Options
A summary of the status of the Company’s
non-vested
options as of November 30, 2019, and changes during the fiscal year then ended, is presented below:
 
       Weighted Average 
       Grant-Date 
   Options   Fair Value 
Non-vested
at November 30, 2018
   40,254   $3.06 
Granted
   143,409    5.02 
Vested
   (58,429   4.36 
Forfeited
   0    0 
  
 
 
   
Non-vested
at November 30, 2019
   125,234   $4.70