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v3.23.2

Leases | 6 Months Ended
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May 31, 2023
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, 2023 and November 30, 2022:
|  | May 31, 2023 |  |  | November 30, 2022 |
Assets |  |  |  |  |  |
Operating lease right-of-use asset |  | $ | 1,188,284 |  |  | $ | 606,034 |
Liabilities |  |  |  |  |  |
Current portion of operating lease liabilities |  | $ | 224,729 |  |  | $ | 297,691 |
Operating lease long-term liabilities |  |  | 967,116 |  |  |  | 313,298 |
Total lease liability |  | $ | 1,191,845 |  |  | $ | 610,989 |
The maturity of the Company’s lease liabilities at May 31, 2023 were as follows:
|  | Future Operating |
Fiscal Year Ending May 31, |  | Lease Payments |
2023 (remaining 6 months) |  | $ | 153,381 |
2024 |  |  | 306,762 |
2025 |  |  | 435,970 |
2026 |  |  | 458,026 |
2027 |  |  | 38,247 |
Less: Imputed interest |  |  | (200,541 | )
Present value of lease liabilities |  | $ | 1,191,845 |
The remaining lease term and discount rates are as follows:
|  | May 31, 2023 |  | November 30, 2022 |
Lease Term and Discount Rate |  |  |  |  |
Remaining lease term (years) |  |  |  |  |
Operating lease |  | 3.58 |  |  | 2.08 |
Discount rate (percentage) |  |  |  |  |
Operating lease |  | 8.3% |  |  | 3.5 | %
Supplemental cash flow information related to leases is as follows:
|  | Three months ended |
|  | May 31, 2023 |  |  | May 31, 2022 |
Operating cash outflows from operating leases |  | $ | 88,918 |  |  | $ | 85,964 |
|  | Six months ended |
|  | May 31, 2023 |  |  | May 31, 2022 |
Operating cash outflows from operating leases |  | $ | 177,313 |  |  | $ | 171,928 |

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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 https://asc.fasb.org/subtopic&trid=77888251 + Details
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