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Stockholders' Equity (Tables) - Service-Based Vesting Condition Options [Member]
3 Months Ended
Feb. 29, 2020
Fair Value of Options Granted
Variables used to determine the fair value of the options granted for the three months ended February 29, 2020 are as follows:
 
   Three months ended February 29, 2020
 
Weighted average values:  
Expected dividends
  0
%
Expected volatility
  64.25
%
Risk free interest rate
  1.90
%
Expected life
  9.0 years
 
Stock Option Activity
Stock option activity for the three months ended February 29, 2020, was as follows:
 
   Options   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Life (Years)
   Aggregate
Intrinsic
Value
 
Outstanding at November 30, 2019
   1,089,774   $3.30    3.91   $4,648,111 
Granted
   44,969    7.26         813 
Exercised
   (20,000   2.05         102,800 
Expired/forfeited
                 
  
 
 
       
Outstanding at February 29, 2020
   1,114,743   $3.49    3.94   $4,192,762 
  
 
 
       
 
 
 
Exercisable at February 29, 2020
   1,006,623   $3.06    3.39   $4,191,626 
  
 
 
       
 
 
 
Significant Option Groups Exercisable Option and its Price and Contractual Life
Significant option groups exercisable at February 29, 2020 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    1.85   $1.73    422,500   $1.73 
$2.01 to $3.00
   245,000    1.85   $2.78    245,000   $2.78 
$3.01 to $4.00
   204,729    5.98   $3.14    204,729   $3.14 
$6.01 to $7.00
   3,833    6.35   $6.52    2,111   $6.51 
$7.01 to $8.00
   238,681    7.99   $7.57    132,283   $7.62 
  
 
 
       
 
 
   
   1,114,743    3.94   $3.49    1,006,623   $3.06 
  
 
 
       
 
 
   
Summary of Non-Vested Options
A summary of the status of the Company’s
non-vested
options as of February 29, 2020, and changes during the three months ended February 29, 2020, is presented below:
   Options   Weighted Average
Grant-Date
Fair Value
 
Non-vested
at November 30, 2019
   125,234   $4.70 
Granted
   44,969    5.03 
Vested
   (62,083   4.51 
Forfeited
        
  
 
 
   
Non-vested
at February 29, 2020
   108,120   $4.95