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Leases | 6 Months Ended
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May 31, 2022
Leases [Abstract] |
Leases | Note 11 – Leases The following table presents the right-of-use asset and short-term and long-term lease liabilities amounts recorded on the consolidated balance sheets as of May 31, 2022 and November 30, 2021:
|  | May 31, 2022 |  |  | November 30, 2021 |
Assets |  |  |  |  |  |
Operating lease right-of-use asset |  | $ | 762,617 |  |  | $ | 916,493 |
Liabilities |  |  |  |  |  |
Current portion of operating lease liabilities |  | $ | 315,042 |  |  | $ | 312,067 |
Operating lease long-term liabilities |  |  | 453,979 |  |  |  | 610,989 |
Total lease liability |  | $ | 769,021 |  |  | $ | 923,056 |
The maturity of the Company’s lease liabilities at May 31, 2022 were as follows:
|  | Future Operating |
Fiscal Year Ending November 30, |  | Lease Payments |
2022 (remaining 6 months) |  | $ | 170,235 |
2023 |  |  | 313,996 |
2024 |  |  | 295,086 |
2025 |  |  | 24,591 |
Less: Imputed interest |  |  | (34,887 | )
Present value of lease liabilities |  | $ | 769,021 |
The remaining lease term and discount rates are as follows:
|  | May 31, 2022 |  | November 30, 2021 |
Lease Term and Discount Rate |  |  |  |  |
Remaining lease term (years) |  |  |  |  |
Operating lease |  | 2.58 |  |  | 3.08 |
Discount rate (percentage) |  |  |  |  |
Operating lease |  | 3.5% |  |  | 3.5 | %
Supplemental cash flow information related to leases is as follows:
|  | Three months ended |
|  | May 31, 2022 |  |  | May 31, 2021 |
Operating cash outflows from operating leases |  | $ | 85,964 |  |  | $ | 75,564 |
|  | Six months ended |
|  | May 31, 2022 |  |  | May 31, 2021 |
Operating cash outflows from operating leases |  | $ | 171,928 |  |  | $ | 147,130 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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