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Stockholders' Equity (Tables) | 6 Months Ended
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May 31, 2026
Equity [Abstract] |
Fair Value of Options Granted | Variables used to determine the fair value of the options granted for the three and six months ended May 31, 2026 and 2025, respectively, are as follows:
|  | Three months ended |  | Six months ended
|  | May 31, |  | May 31, |  | May 31, |  | May 31,
|  | 2026 |  | 2025 |  | 2026 |  | 2025
Weighted average values: |  |  |  |  |  |  |  |
Expected dividends |  | 6.50% |  | 0% |  | 6.50% |  | 6.50%
Expected volatility |  | 60.52% |  | — |  | 62.72% |  | 64.25%
Risk free interest rate |  | 4.19% |  | — |  | 3.76% |  | 4.40%
Expected life |  | 7.0 years |  | — |  | 5.2 years |  | 5.0 years
Stock Option Activity | Stock option activity for options with only service-based vesting conditions for the six months ended May 31, 2026, was as follows:
|  |  |  |  | Weighted |  |  | Weighted Average Remaining |  |  |  |
|  |  |  |  | Average |  |  | Contractual |  |  | Aggregate |
|  | Options |  |  | Exercise Price |  |  | Term (Years) |  |  | Intrinsic Value |
Outstanding at November 30, 2025 |  |  | 554,978 |  |  | $ | 6.87 |  |  | 3.56 |  |  | $ | 9,000 |
Granted |  |  | 112,755 |  |  |  | 3.76 |  |  |  |  |  |  | — |
Exercised |  |  | (7,500 | ) |  |  | 3.10 |  |  |  |  |  |  | 3,900 |
Expired/forfeited |  |  | — |  |  |  | — |  |  |  |  |  |  | — |
Outstanding at May 31, 2026 |  |  | 660,233 |  |  | $ | 6.38 |  |  |  | 3.41 |  |  | $ | — |
Exercisable at May 31, 2026 |  |  | 505,058 |  |  | $ | 6.73 |  |  |  | 3.16 |  |  | $ | — |
Significant Option Groups Exercisable Option and its Price and Contractual Life | Significant option groups outstanding and exercisable at May 31, 2026 and related price and contractual life information are as follows:
|  | Outstanding |  |  | Exercisable |
|  |  |  |  | Weighted Average |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Remaining |  |  | Weighted |  |  |  |  |  | Weighted |
Range of Exercise Prices |  | Outstanding |  |  | Contractual Life (Years) |  |  | Average Exercise Price |  |  | Outstanding |  |  | Average Exercise Price |
$3.01 to $4.00 |  |  | 112,755 |  |  |  | 4.90 |  |  | $ | 3.76 |  |  |  | 32,996 |  |  | $ | 3.81 |
$4.01 to $5.00 |  |  | 124,200 |  |  |  | 2.76 |  |  | $ | 4.70 |  |  |  | 117,466 |  |  | $ | 4.72 |
$5.01 to $6.00 |  |  | 38,600 |  |  |  | 4.18 |  |  | $ | 5.86 |  |  |  | 29,264 |  |  | $ | 5.86 |
$6.01 to $7.00 |  |  | 86,933 |  |  |  | 3.05 |  |  | $ | 6.47 |  |  |  | 61,928 |  |  | $ | 6.48 |
$7.01 to $8.00 |  |  | 177,645 |  |  |  | 2.99 |  |  | $ | 7.52 |  |  |  | 168,309 |  |  | $ | 7.52 |
$8.01 to $9.00 |  |  | 75,000 |  |  |  | 3.65 |  |  | $ | 8.09 |  |  |  | 49,995 |  |  | $ | 8.09 |
$9.01 to $10.00 |  |  | 29,000 |  |  |  | 1.77 |  |  | $ | 9.37 |  |  |  | 29,000 |  |  | $ | 9.37 |
$12.01 to $13.00 |  |  | 16,100 |  |  |  | 4.43 |  |  | $ | 12.54 |  |  |  | 16,100 |  |  | $ | 12.54 |
|  |  | 660,233 |  |  |  | 3.41 |  |  | $ | 6.38 |  |  |  | 505,058 |  |  | $ | 6.73 |
Summary of Non-Vested Options | A summary of the status of the Company’s non-vested options as of May 31, 2026, and changes during the six months ended May 31, 2026, is presented below:
|  |  |  |  | Weighted Average |
|  |  |  |  | Grant-Date |
|  | Options |  |  | Fair Value |
Non-vested at November 30, 2025 |  |  | 128,147 |  |  | $ | 2.60 |
Granted |  |  | 112,755 |  |  |  | 1.19 |
Vested |  |  | (85,727 | ) |  |  | 1.91 |
Forfeited |  |  | — |  |  |  | — |
Non-vested at May 31, 2026 |  |  | 155,175 |  |  | $ | 1.96 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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