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Note 12 - Related Party Transactions
 6 Months Ended
May 31, 2021
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
 
12
)
Related Party Transactions
 
During the
three
and
six
months ended
May 31, 2021,
and
May 31, 2020,
the Company did
not
recognize any revenues from transactions with a related party, and
no
amounts in accounts receivable balances were due from a related party. From time to time, the Company purchases various supplies from related parties, which are companies owned by the late J. Ward McConnell, Jr., the former Vice Chairman of the Company's Board of Directors and father to Marc McConnell, the Chairman of the Company's Board of Directors, who also serves as President of these companies. J. Ward McConnell, Jr., as a shareholder owning more than
20%
of the Company's outstanding stock, was required to guarantee a portion of the Company's Term Loan in accordance with the USDA guarantee on the Company's Term Loan. J. Ward McConnell, Jr. was paid a monthly fee for his guarantee. In the
three
and
six
months ended
May 31, 2021,
the Company recognized
$7,992
and
$12,661
of expense for transactions with related parties, respectively, compared to
$5,314
and
$9,902
for the
three
and
six
months ended
May 31, 2020.
As of
May 31, 2021,
accrued expenses contained a balance of
$1,483
owed to a related party compared to
$1,540
on
May 31, 2020.