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Leases | 9 Months Ended
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Aug. 31, 2024
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 August 31, 2024 and November 30, 2023:
|  | August 31, 2024 |  |  | November 30, 2023 |
Assets |  |  |  |  |  |
Operating lease right-of-use asset |  | $ | 896,790 |  |  | $ | 1,033,157 |
Liabilities |  |  |  |  |  |
Current portion of operating lease liabilities |  | $ | 383,891 |  |  | $ | 225,686 |
Operating lease long-term liabilities |  |  | 619,032 |  |  |  | 851,938 |
Total lease liability |  | $ | 1,002,923 |  |  | $ | 1,077,624 |
The maturity of the Company’s lease liabilities at August 31, 2024 were as follows:
|  | Future Operating |
Fiscal Year Ending November 30, |  | Lease Payments |
2024 (3 months remaining) |  | $ | 89,890 |
2025 |  |  | 490,310 |
2026 |  |  | 490,982 |
2027 |  |  | 38,247 |
Less: Imputed interest |  |  | (106,506 | )
Present value of lease liabilities |  | $ | 1,002,923 |
The remaining lease term and discount rates are as follows:
|  | August 31, 2024 |  | November 30, 2023 |
Lease Term and Discount Rate |  |  |  |  |
Remaining lease term (years) |  |  |  |  |
Operating lease |  | 2.33 |  |  | 3.08 |
Discount rate (percentage) |  |  |  |  |
Operating lease |  | 8.3% |  |  | 8.3 | %
Supplemental cash flow information related to leases is as follows:
|  | Three months ended |
|  | August 31, 2024 |  |  | August 31, 2023 |
Operating cash outflows from operating leases |  | $ | 88,321 |  |  | $ | 76,690 |
|  | Nine months ended |
|  | August 31, 2024 |  |  | August 31, 2023 |
Operating cash outflows from operating leases |  | $ | 266,418 |  |  | $ | 254,003 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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