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Note 18 - Subsequent Events | 12 Months Ended
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Nov. 30, 2012
Subsequent Events [Text Block] | (18) Subsequent Events During 2011 the Company decided to sell its production facility in Salem, South Dakota. A public cry-out auction was held during the 4th quarter of fiscal year 2012. The sale was finalized on December 21, 2012 for the bid price of $87,500 less settlement fees. The Company recognized an asset impairment of approximately $95,000 in fiscal year 2012 due to the Company’s carrying value exceeding the bid price. Additionally, during fiscal year 2012, the Company decided to sell its farm and pasture land near its Armstrong, Iowa production facility. A public cry-out auction was held during 4th quarter of fiscal year 2012. The sale was finalized during December, 2012 for the bid price of $776,000. The Company will recognize a gain of approximately $658,000 less transaction settlement expenses in the 1st quarter of fiscal year 2013. On February 1, 2013, the Company refinanced its loan with the Iowa Finance Authority. The loan now has a stated interest rate of 2.75%, a decrease of 0.75% from original interest rate of 3.50%. Maturity date and other terms remain unchanged. (See Note 9, “Loan and Credit Agreements” for a discussion of this loan).

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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