Notes Payable (Tables)

6 Months Ended

May 31, 2020

As of May 31, 2020

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


	May 31, 2020			November 30, 2019
Note payable	$	7,558,433		$	9,108,433
Unamortized debt issuance costs		(105,462	)		(152,281	)

Net note payable	$	7,452,971		$	8,956,152

Current portion of note payable	$	3,100,000		$	3,100,000
Long-term note payable, net of debt issuance costs		4,352,971			5,856,152

Total	$	7,452,971		$	8,956,152

Interest expense on the note payable for the three and six months ended May 31, 2020 and May 31, 2019 was as follows:


	For the three months ended May 31, 2020		For the six months ended May 31,2020
Interest expense on notes payable	$	81,604	$	191,384
Debt issuance costs		22,337		46,818

Total Interest expense	$	103,941	$	238,202


	For the three months ended May 31, 2019		For the six months ended May 31, 2019
Interest expense on notes payable	$	181,440	$	361,682
Debt issuance costs		28,106		58,000

Total interest expense	$	209,546	$	419,682