BAB (BABB) 10-K 24 Feb 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Nov. 30, 2015	Feb. 23, 2016	May. 31, 2015
Entity Registrant Name	BAB, INC.
Entity Central Index Key	1,123,596
Trading Symbol	babb
Current Fiscal Year End Date	--11-30
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		7,263,508
Entity Public Float			$ 2,872,682
Document Type	10-K
Document Period End Date	Nov. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Nov. 30, 2015	Nov. 30, 2014
Series A Preferred Stock [Member]
Stockholders' Equity
Preferred shares -$.001 par value; 4,000,000 authorized; no shares outstanding as of November 30, 2015 and November 30, 2014
Cash	$ 837,382	$ 709,555
Restricted cash	420,739	420,834
Trade accounts and notes receivable (net of allowance for doubtful accounts of $33,077 in 2015 and $48,250 in 2014 )	75,079	182,975
Marketing fund contributions receivable from franchisees and stores	21,111	23,708
Inventories	26,824	25,519
Prepaid expenses and other current assets	83,796	73,943
Total Current Assets	1,464,931	1,436,534
Property, plant and equipment (net of accumulated depreciation of $150,083 in 2015 and $147,638 in 2014)	3,476	5,921
Trademarks	455,182	454,479
Goodwill	1,493,771	1,493,771
Definite lived intangible assets (net of accumulated amortization of $96,389 in 2015 and $81,689 in 2014)	22,987	35,187
Deferred tax asset	248,000	248,000
Total Noncurrent Assets	2,223,416	2,237,358
Total Assets	3,688,347	3,673,892
Current portion of long-term debt	33,413	31,898
Accounts payable	13,055	10,845
Accrued expenses and other current liabilities	311,916	308,315
Unexpended marketing fund contributions	442,105	213,750
Deferred franchise fee revenue	105,000	40,000
Deferred licensing revenue	32,083	32,083
Total Current Liabilities	$ 937,572	636,891
Long-term debt (net of current portion)		33,413
Total Liabilities	$ 937,572	$ 670,304
Preferred shares -$.001 par value; 4,000,000 authorized; no shares outstanding as of November 30, 2015 and November 30, 2014
Common stock -$.001 par value; 15,000,000 shares authorized; 8,466,953 shares issued and 7,263,508 shares outstanding as of November 30, 2015 and November 30, 2014	$ 13,508,257	$ 13,508,257
Additional paid-in capital	987,034	987,034
Treasury stock	(222,781)	(222,781)
Accumulated deficit	(11,521,735)	(11,268,922)
Total Stockholders' Equity	2,750,775	3,003,588
Total Liabilities and Stockholders' Equity	$ 3,688,347	$ 3,673,892

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Nov. 30, 2015	Nov. 30, 2014
Series A Preferred Stock [Member]
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares outstanding (in shares)	0	0
Allowance for doubtful accounts	$ 33,077	$ 48,250
Accumulated depreciation, property, plant and equipment	150,083	147,638
Definite lived intangible assets, accumulated amortization	$ 96,389	$ 81,689
Preferred stock, shares authorized (in shares)	4,000,000	4,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	15,000,000	15,000,000
Common stock, shares issued (in shares)	8,466,953	8,466,953
Common stock, shares outstanding (in shares)	7,263,508	7,263,508

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
REVENUES
Royalty fees from franchised stores	$ 1,714,881	$ 1,746,991
Franchise fees	85,000	277,500
Licensing fees and other income	415,899	510,099
Total Revenues	2,215,780	2,534,590
Selling, general and administrative expenses:
Payroll and payroll-related expenses	1,090,775	1,167,288
Occupancy	173,476	180,947
Advertising and promotion	57,491	37,951
Professional service fees	126,515	156,348
Travel	48,861	49,355
Employee benefit expense	154,206	104,235
Depreciation and amortization	17,145	$ 17,983
Legal Settlement	243,046
Other	201,258	$ 282,485
Total Operating Expenses	2,112,773	1,996,592
Income from operations	103,007	537,998
Interest income	1,705	673
Interest expense	(2,850)	(4,308)
Income before provision for income taxes	101,862	534,363
Provision for income taxes
Current tax (benefit)/expense	(8,500)	22,417
Net Income	$ 110,362	$ 511,946
Earnings per share - Basic and Diluted (in dollars per share)	$ 0.02	$ 0.07
Weighted average shares outstanding - Basic (in shares)	7,263,508	7,263,508
Effect of dilutive common stock (in shares)
Weighted average shares outstanding - Diluted (in shares)	7,263,508	7,263,508
Cash distributions declared per share (in dollars per share)	$ 0.05	$ 0.06

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Nov. 30, 2013	8,466,953		1,203,445
Balance at Nov. 30, 2013	$ 13,508,257	$ 987,034	$ (222,781)	$ (11,345,057)	$ 2,927,453
Dividends Declared				(435,811)	(435,811)
Net income				511,946	511,946
Balance (in shares) at Nov. 30, 2014	8,466,953		1,203,445
Balance at Nov. 30, 2014	$ 13,508,257	$ 987,034	$ (222,781)	(11,268,922)	3,003,588
Dividends Declared				(363,175)	(363,175)
Net income				110,362	110,362
Balance (in shares) at Nov. 30, 2015	8,466,953		1,203,445
Balance at Nov. 30, 2015	$ 13,508,257	$ 987,034	$ (222,781)	$ (11,521,735)	$ 2,750,775

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Operating activities
Net income	$ 110,362	$ 511,946
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization	17,145	17,983
Provision for uncollectible accounts, net of recoveries	$ (8,376)	58,224
Loss on assets held for sale		3,783
Changes in:
Trade accounts receivable and notes receivable	$ 116,272	(103,905)
Restricted cash	95	160,635
Marketing fund contributions receivable	2,597	(13,691)
Inventories	(1,305)	2,025
Prepaid expenses and other	(9,853)	7,589
Accounts payable	2,210	(11,698)
Accrued liabilities	3,601	28,195
Unexpended marketing fund contributions	228,355	(146,933)
Deferred revenue	65,000	(14,584)
Net Cash Provided by Operating Activities	526,103	499,569
Investing activities
Capitalization of trademark renewals	(3,203)	(7,643)
Net Cash Used In Investing Activities	(3,203)	(7,643)
Financing activities
Repayment of borrowings	(31,898)	(30,451)
Cash distributions/dividends	(363,175)	(435,811)
Net Cash Used In Financing Activities	(395,073)	(466,262)
Net Increase in Cash	127,827	25,664
Cash, Beginning of Period	709,555	683,891
Cash, End of Period	837,382	709,555
Supplemental disclosure of cash flow information:
Interest paid	3,102	$ 4,549
Income taxes paid	$ 13,731

Note 1 - Nature of Operations

Note 1 - Nature of Operations	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Nature of Operations [Text Block]	Note 1 - Nature of Operations BAB, Inc (“the Company”) has three wholly owned subsidiaries: BAB Systems, Inc. (“Systems”) and BAB Operations, Inc. (“Operations”) and BAB Investments, Inc. (“Investments”). Systems was incorporated on December 2, 1992, and was primarily established to franchise Big Apple Bagels® (“BAB”) specialty bagel retail stores. My Favorite Muffin (“MFM”) was acquired in 1997 and is included as a part of Systems. Brewster’s (“Brewster’s”) was established in 1996 and the coffee is sold in BAB and MFM locations. SweetDuet® (“SD”) frozen yogurt can be added as an additional brand in a BAB or MFM location. Operations was formed in 1995, primarily to operate Company-owned stores of which there are currently none. The assets of Jacobs Bros. Bagels (“Jacobs Bros.”) were acquired in 1999, and any branded wholesale business uses this trademark. Investments was incorporated in 2009 to be used for the purpose of acquisitions. To date there have been no acquisitions. The Company was incorporated under the laws of the State of Delaware on July 12, 2000. The Company currently franchises and licenses bagel and muffin retail units under the BAB, MFM and SD trade names. At November 30, 2015, the Company had 84 franchise units and 3 licensed units in operation in 23 states and one international location. There are 7 units under development. The Company additionally derives income from the sale of its trademark bagels, muffins and coffee through nontraditional channels of distribution including under licensing agreements with Kohr Bros. Frozen Custard, Kaleidoscoops and Green Beans Coffee. Also, included in licensing fees and other income is Operations Sign Shop results. For franchise consistency and convenience, the Sign Shop provides the majority of signage to franchisees, including but not limited to, posters, menu panels, build charts, outside window stickers and counter signs.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 - Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition Royalty fees from franchised stores represent a 5% fee on net retail and wholesale sales of franchised units. Royalty revenues are recognized on an accrual basis using actual franchise receipts. Generally, franchisees report and remit royalties on a weekly basis. The majority of month-end receipts are recorded on an accrual basis based on actual numbers from reports received from franchisees shortly after the period-end. Estimates are utilized in certain instances where actual numbers have not been received. The Company recognizes franchise fee revenue on the store’s opening. Direct costs associated with the sale of franchises are deferred until the franchise fee revenue is recognized. These costs include site approval, construction approval, commissions, blueprints and training costs. The Company will recognize revenue upon a signed and completed franchise agreement for a Master Franchise Agreement (“MFA”), such as was entered into in 2014 with a Dubai based organization. The revenue for a MFA is a nonrefundable fee and the amount of the fee is dependent on the area covered by the MFA. In addition there will be ongoing royalty fees as determined by the contract. Big Apple Bagels®, SweetDuet Frozen Yogurt and Gourmet Muffins® and My Favorite Muffin® operating units, licensed units and unopened stores for which a Franchise Agreement has been executed, are as follows: 2015 2014 Operating Units Franchise Owned 84 87 Licensed Units 3 5 87 92 Unopened stores with Franchise Agreements: 7 5 Total operating units and units with Franchise Agreements 94 97 License fees and other income primarily consist of license fees, Sign Shop revenues and defaulted and terminated franchise contract revenues. Revenue is recorded on an accrual basis. Actual amounts are used to record the majority of license fees although at times it is necessary to use estimates. Revenues and expenses recorded for the Sign Shop, as well as defaulted and terminated franchise contract revenue, are actual amounts. Segments Accounting standards have established annual reporting standards for an enterprise’s operating segments and related disclosures about its products, services, geographic areas and major customers. The Company’s operations were confined to a single reportable segment. Marketing Fund A Marketing Fund has been established for BAB, MFM and SD. Franchised stores are required to contribute a fixed percentage of their net retail sales to the Marketing Fund. Liabilities for unexpended funds received from franchisees are included as a separate line item in accrued expenses and Marketing Fund cash accounts are included in restricted funds in the accompanying Balance Sheet. The Marketing Fund also derives revenues from rebates paid by certain vendors on the sale of BAB and MFM licensed products to franchisees. Cash As of November 30, 2015 and 2014, the Marketing Fund cash balances, which are restricted, were $421,000 and $190,000, respectively. The FDIC maximum insurance on all interest and noninterest bearing checking accounts is $250,000 for each entity. The Company exceeded FDIC limits on its operating and marketing accounts but did not experience any losses. Accounts and Notes Receivable Receivables are carried at original invoice amount less estimates for doubtful accounts. Management determines the allowance for doubtful accounts by reviewing and identifying troubled accounts and by using historical collection experience. A receivable is considered to be past due if any portion of the receivable balance is outstanding 90 days past the due date. Receivables are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded as income when received. Certain receivables have been converted to unsecured interest-bearing notes. Inventories Inventories are valued at the lower of cost or market under the first-in, first-out (FIFO) method. Property, Plant and Equipment Property and equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Estimated useful lives are 3 to 7 years for property and equipment and 10 years, or term of lease if less, for leasehold improvements. Maintenance and repairs are charged to expense as incurred. Expenditures that materially extend the useful lives of assets are capitalized. Goodwill and Other Intangible Assets Accounting Standard Codification (“ASC”) 350 “Goodwill and Other Intangible Assets” requires that assets with indefinite lives no longer be amortized, but instead be subject to annual impairment tests. The Company follows this guidance. The Company tests goodwill that is not subject to amortization for impairment annually or more frequently if events or circumstances indicate that impairment is possible. Goodwill was tested at the end of the first quarter, February 28, 2015 and it was found that the carrying value of goodwill and intangible assets were not impaired. The impairment test performed February 28, 2015 was based on a discounted cash flow model using management’s business plan projected for expected cash flows. Based on the computation it was determined that no impairment was needed. An impairment test was performed at February 28, 2014 and based on the computation using discounted cash flows, it was also determined that no impairment occurred. The net book value of goodwill and intangible assets with indefinite and definite lives are as follows: Goodwill Trademarks Definite Lived Intangibles Total Net Balance as of November 30, 2013 $ 1,493,771 $ 448,022 $ 47,803 $ 1,989,596 Additions - 6,457 1,186 7,643 Amortization expense - - (13,802 ) (13,802 ) Net Balance as of November 30, 2014 1,493,771 454,479 35,187 1,983,437 Additions - 703 2,500 3,203 Amortization expense - - (14,700 ) (14,700 ) Net Balance as of November 30, 2015 $ 1,493,771 $ 455,182 $ 22,987 $ 1,971,940 Definite lived intangible assets are being amortized over their useful lives. The estimated amortization expense for each of the next two remaining years is as follows: Fiscal Period Definite Lived Intangibles 2016 $ 15,325 2017 7,662 Total $ 22,987 Advertising and Promotion Costs The Company expenses advertising and promotion costs as incurred. Advertising and promotion expense was $57,000 and $38,000 in 2015 and 2014, respectively. All advertising and promotion costs were related to the Company’s franchise operations. Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The benefits from net operating losses carried forward may be impaired or limited in certain circumstances. In addition, a valuation allowance can be provided for deferred tax assets when it is more likely than not that all or some portion of the deferred tax asset will not be realized. The Company files a consolidated U.S. income tax return and tax returns in various state jurisdictions. Review of the Company’s possible tax uncertainties as of November 30, 2015 did not result in any positions requiring disclosure. Should the Company need to record interest and/or penalties related to uncertain tax positions or other tax authority assessments, it would classify such expenses as part of the income tax provision. The Company has not changed any of its tax policies or adopted any new tax positions during the fiscal year ended November 30, 2015 and believes it has filed appropriate tax returns in all jurisdictions for which it has nexus. The Company’s income tax returns for the years ending November 30, 2012, 2013 and 2014 are subject to examination by the IRS and corresponding states, generally for three years after they are filed. (See Note 3.) Earnings Per Share The Company computes earnings per share (“EPS”) under ASC 260 “Earnings per Share.” Basic net earnings are divided by the weighted average number of common shares outstanding during the year to calculate basic net earnings per common share. Diluted net earnings per common share are calculated to give effect to the potential dilution that could occur if options or other contracts to issue common stock were exercised and resulted in the issuance of additional common shares. 2015 2014 Numerator: Net income available to common shareholders $ 110,632 $ 511,946 Denominator: Weighted average outstanding shares Basic 7,263,508 7,263,508 Earnings per Share - Basic $ 0.02 $ 0.07 Effect of dilutive common stock - - Weighted average outstanding shares Diluted 7,263,508 7,263,508 Earnings per share - Diluted $ 0.02 $ 0.07 At November 30, 2015 and 2014 there are 237,500 and 314,400, respectively of unexercised options that are not included in the computation of dilutive EPS because their impact would be antidilutive due to the market price of the common stock being lower than the option prices. In addition, the weighted average shares do not include any effects for potential shares related to the Preferred Shares Rights Agreement. Stock-Based Compensation The Company recognizes compensation cost using a fair-value based method for all share-based payments granted after November 30, 2006, plus any awards granted to employees up through November 30, 2006 that remain unvested at that time. The Company had no recorded compensation expense arising from share-based payment arrangements for the Company’s stock option plan in 2015 or 2014. Fair Value of Financial Instruments The carrying amounts of financial instruments including cash, accounts receivable, notes receivable, accounts payable and short-term debt approximate their fair values because of the relatively short maturity of these instruments. The carrying value of long-term debt, including the current portion, approximate fair value based upon market prices for the same or similar instruments. Recent Accounting Pronouncements Revenue from Contracts with Customers, ASU 2014-09 establishes a comprehensive revenue recognition standard for virtually all industries in U.S. GAAP, including those that previously followed industry-specific guidance such as the real estate, construction and software industries. The revenue standard’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. The standard requires five basic steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, (v) recognize revenue when (or as) the entity satisfies a performance obligation. Entities will generally be required to make more estimates and use more judgment than under current guidance, which will be highlighted for users through increased disclosure requirements. The ASU is effective for the Company, for annual periods beginning after December 15, 2017. The Company will adopt ASU 2014-09 for fiscal year ending November 30, 2019 and the Company is evaluating the impact that adoption of this guidance might have on the Company’s consolidated financial position, cash flows or results of operations. Management does not believe that there are any other recently issued and effective or not yet effective pronouncements as of November 30, 2015 that would have or are expected to have any significant effect on the Company’s financial position, cash flows or results of operations.

Note 3 - Income Taxes

Note 3 - Income Taxes	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 3 – Income Taxes The components of the Company’s current (benefit)/provision for income taxes are as follows: 2015 2014 Current Federal $ - $ - State (8,500 ) 22,417 Deferred - - Total $ (8,500 ) $ 22,417 The effective tax rate used to compute income tax expense and deferred tax assets and liabilities is a federal rate of 34% and a state rate of 4.95%, net of the federal tax effect. A reconciliation of the expected income tax expense to the recorded income tax expense is as follows for the years ended November 30: 2015 2014 Federal income tax provision computed at federal statutory rate $ 37,400 $ 174,062 State income taxes, net of federal tax provision 5,445 30,410 Other adjustments 21,657 24,183 Change in valuation allowance and expiration of certain net operating losses (73,002 ) (206,238 ) Income Tax Provision $ (8,500 ) $ 22,417 The components of the Company’s deferred tax assets and liabilities for federal and state income taxes consist of the following: 2015 2014 Deferred revenue $ 53,394 $ 28,790 Deferred rent 18,229 19,803 Marketing Fund net contributions 163,878 75,796 Allowance for doubtful accounts and notes receivable 12,883 19,271 Accrued expenses 70,000 64,765 Net operating loss carryforwards 1,404,222 1,604,057 Valuation allowance (827,445 ) (900,447 ) Total Deferred Income Tax Asset $ 895,161 $ 912,035 Depreciation and amortization $ (645,909 ) $ (661,953 ) Franchise Costs (1,252 ) (2,082 ) Total Deferred Income Tax Liabilities $ (647,161 ) $ (664,035 ) Total Net Deferred Tax Asset $ 248,000 $ 248,000 As of November 30, 2015 the Company has net operating loss carryforwards expiring between 2016 and 2029 for U.S. federal income tax purposes of approximately $3,605,000. The Company routinely reviews the future realization of tax assets based on projected future reversals of taxable temporary differences, available tax planning strategies and projected future taxable income. A valuation allowance has been established for $827,000 and $900,000 as of November 30, 2015 and 2014, respectively, for the deferred tax benefit related to those loss carryforwards and other deferred tax assets, that are more likely than not that the deferred tax asset will not be realized.

Note 4 - Long-term Debt

Note 4 - Long-term Debt	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Long-term Debt [Text Block]	Note 4 - Long-Term Debt On September 6, 2002, the Company signed a note payable requiring annual installments of $35,000, including interest at a rate of 4.75% per annum, for a term of 15 years, in the original amount of $386,000. The Company purchased and retired 1,380,040 shares of BAB, Inc. common stock from a former stockholder. The balance of the note payable as of November 30, 2015 is all current debt. The balance was $33,000 and $65,000 as of November 30, 2015 and 2014, respectively. The final payment is due October 1, 2016.

Note 5 - Stockholders' Equity

Note 5 - Stockholders' Equity	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 5 - Stockholders’ Equity On December 3, 2015 a $0.01 quarterly and a $0.02 special cash distribution/dividend per share was declared and paid on January 6, 2016. The Board of Directors declared a cash distribution/dividend on March 2, June 4 and September 2, 2015 of $0.01 per share, paid April 10, July 8, and October 6, 2015, respectively. On December 3, 2014 a $0.01 quarterly and $.01 special cash distribution/dividend per share was declared and paid January 6, 2015. The Board of Directors declared a $0.01 quarterly cash distribution/dividend per share on March 12, June 13 and September 2, 2014, paid April 14, July 16, and October 6, 2014, respectively. On December 2, 2013 a $0.01 quarterly and a $0.02 special cash distribution/dividend per share was declared and paid January 3, 2014. On May 6, 2013 BAB Inc. adopted a Preferred Shares Rights Agreement (“Rights Plan”) and declared a dividend distribution of one right (equivalent to one one-thousandth of a preferred share), for each outstanding share of common stock. The Rights Plan is intended to protect BAB, Inc. and its stockholders from efforts to obtain control of BAB, Inc. that the Board of Directors determines are not in the best interest of BAB, Inc. and its stockholders. BAB, Inc. issued one Right for each current share of stock outstanding at the close of business on May 13, 2013. The rights will not be exercisable unless a person or group acquires 15% (20% institutional investors) or more of BAB, Inc.’s common stock (“trigger event”). Should a trigger event occur, e ach right entitles the registered holder to purchase from the Company one one-thousandth of a share of the Series A Participating Preferred Stock of the Company at an exercise price of $0.90 per one-thousandth of a Preferred Share, subject to adjustment. The Rights will expire in three years from the date of declaration. On June 18, 2014 an amendment to the Preferred Shares Rights Agreement was filed appointing American Stock Transfer & Trust Company, LLC as successor to Illinois Stock Transfer Company. All original rights and provisions remain unchanged. On August 18, 2015 an amendment was filed to the Preferred Shares Rights Agreement changing the final expiration date to mean the fifth anniversary of the date of the original agreement. All other original rights and provisions remain the same.

Note 6 - Stock Options

Note 6 - Stock Options	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 6 - Stock Options In May 2001, the Company approved a Long-Term Incentive and Stock Option Plan (“Plan”). The Plan reserved 1,400,000 shares of common stock for grant, all of which have been granted as of November 30, 2009. The Plan terminated on May 25, 2011. The Plan permitted granting of awards to employees and non-employee Directors and agents of the Company in the form of stock appreciation rights, stock awards and stock options. The Plan was administered by a Committee of the Board of Directors appointed by the Board. The Plan gave broad powers to the Board and Committee to administer and interpret the Plan, including the authority to select the individuals to be granted options and rights and to prescribe the particular form and conditions of each option or right granted. Under the Plan, the exercise price of each option equals the market price of the Company’s stock on the date of grant. The options granted vary in vesting from immediate to a vesting period over five years. The options granted are exercisable within a 10 year period from the date of grant. All stock issued from the granted options must be held for one year from date of exercise. Options issued and outstanding expire on various dates through November 28, 2016. The range of exercise prices of options outstanding at November 30, 2015 is $0.97 to $1.38. During fiscal 2015 and 2014 no options were granted or exercised. Activity under the Plan during the two years ended November 30 is as follows: 2015 2014 Options Weighted average exercise price Options Weighted average exercise price Options outstanding at beginning of year 314,400 $ 1.16 368,373 $ 1.16 Forfeited or expired (76,900 ) 0.93 (53,973 ) 0.96 Outstanding at end of year 237,500 $ 1.275 314,400 $ 1.156 Options Outstanding and Exercisable Weighted average Weighted Range of Options remaining average exercise price outstanding contractual life exercise price $1.15 - $1.27 62,500 0.25 $ 1.227 $0.97 20,000 1.00 $ 0.970 $1.25 - $1.38 155,000 1.00 $ 1.334 237,500 $ 1.275 The aggregate intrinsic value in the table below is before income taxes, based on the Company’s closing stock price of $0.56 as of the last business day of the period ended November 30, 2015. There were no options exercised in 2015 or 2014. Options Outstanding Options Exercisable Outstanding Wghtd. Avg. Wghtd. Avg. Aggregate Exercisable Wghtd. Avg. Aggregate at 11/30/15 Remaining Life Exercise Price Intrinsic Value at 11/30/15 Exercise Price Intrinsic Value 237,500 0.80 $ 1.275 $ - 237,500 $ 1.275 $ - In fiscal 2015 and 2014 the Company recorded no compensation cost arising from share-based payment arrangements.

Note 7 - Commitments

Note 7 - Commitments	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Commitments Disclosure [Text Block]	Note 7 - Commitments The Company rents its Corporate office under a lease which requires it to pay base rent, real estate taxes, insurance and general repairs and maintenance. The lease is through September 30, 2018. Rent expense for the years ended November 30, 2015 and 2014 was $169,000 and $177,000, respectively. Monthly rent is recorded on a straight-line basis over the term of the lease with a deferred rent liability being recognized. As of November 30, 2015, future minimum annual rental commitments under the Corporate lease are as follows: Year Ending November 30: 2016 $ 120,257 2017 134,843 2018 115,197 Total $ 370,297

Note 8 - Employee Benefit Plan

Note 8 - Employee Benefit Plan	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note 8 – Employee Benefit Plan The Company maintains a qualified 401(k) plan which allows eligible participants to make pretax contributions. In fiscal 2015 the Company changed the 401(k) plan, establishing it as a Safe Harbor plan effective January 1, 2015. Contributions are matched by the Company up to a maximum of 4% of employee earnings based on the employees’ contribution. In fiscal 2015 the Company’s employer match was $35,000. The Company did not make a contribution in 2014.

Note 9 - Contingencies

Note 9 - Contingencies	12 Months Ended
	Nov. 30, 2015
Notes to Financial Statements
Contingencies Disclosure [Text Block]	Note 9 – Contingencies We are subject to various legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business. While the outcome of such proceedings or claims cannot be predicted with certainty, management does not believe that the outcome of any such proceedings or claims will have a material effect on our financial position. Except as stated below, we know of no pending or threatened proceeding or claim to which we are or will be a party. On July 8, 2013, a judgment was entered in the Circuit Court of Cook County against BAB Operations, Inc. (“Operations”), a wholly owned subsidiary of BAB, Inc., and in favor of a former landlord of Operations, Alecta Real Estate USA, LLC. In September 2013 the Company filed an appeal. On March 23, 2015 the Appellate Court found in favor of the plaintiff and against Operations, affirming the trial court’s judgment. The legal settlement of $243,000 was recorded in the first quarter of 2015 and payment was made in the second quarter of 2015 and included the judgment, attorney’s fees and interest.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 30, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Royalty fees from franchised stores represent a 5% fee on net retail and wholesale sales of franchised units. Royalty revenues are recognized on an accrual basis using actual franchise receipts. Generally, franchisees report and remit royalties on a weekly basis. The majority of month-end receipts are recorded on an accrual basis based on actual numbers from reports received from franchisees shortly after the period-end. Estimates are utilized in certain instances where actual numbers have not been received. The Company recognizes franchise fee revenue on the store’s opening. Direct costs associated with the sale of franchises are deferred until the franchise fee revenue is recognized. These costs include site approval, construction approval, commissions, blueprints and training costs. The Company will recognize revenue upon a signed and completed franchise agreement for a Master Franchise Agreement (“MFA”), such as was entered into in 2014 with a Dubai based organization. The revenue for a MFA is a nonrefundable fee and the amount of the fee is dependent on the area covered by the MFA. In addition there will be ongoing royalty fees as determined by the contract. Big Apple Bagels®, SweetDuet Frozen Yogurt and Gourmet Muffins® and My Favorite Muffin® operating units, licensed units and unopened stores for which a Franchise Agreement has been executed, are as follows: 2015 2014 Operating Units Franchise Owned 84 87 Licensed Units 3 5 87 92 Unopened stores with Franchise Agreements: 7 5 Total operating units and units with Franchise Agreements 94 97 License fees and other income primarily consist of license fees, Sign Shop revenues and defaulted and terminated franchise contract revenues. Revenue is recorded on an accrual basis. Actual amounts are used to record the majority of license fees although at times it is necessary to use estimates. Revenues and expenses recorded for the Sign Shop, as well as defaulted and terminated franchise contract revenue, are actual amounts.
Segment Reporting, Policy [Policy Text Block]	Segments Accounting standards have established annual reporting standards for an enterprise’s operating segments and related disclosures about its products, services, geographic areas and major customers. The Company’s operations were confined to a single reportable segment.
Cooperative Advertising Policy [Policy Text Block]	Marketing Fund A Marketing Fund has been established for BAB, MFM and SD. Franchised stores are required to contribute a fixed percentage of their net retail sales to the Marketing Fund. Liabilities for unexpended funds received from franchisees are included as a separate line item in accrued expenses and Marketing Fund cash accounts are included in restricted funds in the accompanying Balance Sheet. The Marketing Fund also derives revenues from rebates paid by certain vendors on the sale of BAB and MFM licensed products to franchisees.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash As of November 30, 2015 and 2014, the Marketing Fund cash balances, which are restricted, were $421,000 and $190,000, respectively. The FDIC maximum insurance on all interest and noninterest bearing checking accounts is $250,000 for each entity. The Company exceeded FDIC limits on its operating and marketing accounts but did not experience any losses.
Receivables, Policy [Policy Text Block]	Accounts and Notes Receivable Receivables are carried at original invoice amount less estimates for doubtful accounts. Management determines the allowance for doubtful accounts by reviewing and identifying troubled accounts and by using historical collection experience. A receivable is considered to be past due if any portion of the receivable balance is outstanding 90 days past the due date. Receivables are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded as income when received. Certain receivables have been converted to unsecured interest-bearing notes.
Inventory, Policy [Policy Text Block]	Inventories Inventories are valued at the lower of cost or market under the first-in, first-out (FIFO) method.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment Property and equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Estimated useful lives are 3 to 7 years for property and equipment and 10 years, or term of lease if less, for leasehold improvements. Maintenance and repairs are charged to expense as incurred. Expenditures that materially extend the useful lives of assets are capitalized.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Other Intangible Assets Accounting Standard Codification (“ASC”) 350 “Goodwill and Other Intangible Assets” requires that assets with indefinite lives no longer be amortized, but instead be subject to annual impairment tests. The Company follows this guidance. The Company tests goodwill that is not subject to amortization for impairment annually or more frequently if events or circumstances indicate that impairment is possible. Goodwill was tested at the end of the first quarter, February 28, 2015 and it was found that the carrying value of goodwill and intangible assets were not impaired. The impairment test performed February 28, 2015 was based on a discounted cash flow model using management’s business plan projected for expected cash flows. Based on the computation it was determined that no impairment was needed. An impairment test was performed at February 28, 2014 and based on the computation using discounted cash flows, it was also determined that no impairment occurred. The net book value of goodwill and intangible assets with indefinite and definite lives are as follows: Goodwill Trademarks Definite Lived Intangibles Total Net Balance as of November 30, 2013 $ 1,493,771 $ 448,022 $ 47,803 $ 1,989,596 Additions - 6,457 1,186 7,643 Amortization expense - - (13,802 ) (13,802 ) Net Balance as of November 30, 2014 1,493,771 454,479 35,187 1,983,437 Additions - 703 2,500 3,203 Amortization expense - - (14,700 ) (14,700 ) Net Balance as of November 30, 2015 $ 1,493,771 $ 455,182 $ 22,987 $ 1,971,940 Definite lived intangible assets are being amortized over their useful lives. The estimated amortization expense for each of the next two remaining years is as follows: Fiscal Period Definite Lived Intangibles 2016 $ 15,325 2017 7,662 Total $ 22,987
Advertising Costs, Policy [Policy Text Block]	Advertising and Promotion Costs The Company expenses advertising and promotion costs as incurred. Advertising and promotion expense was $57,000 and $38,000 in 2015 and 2014, respectively. All advertising and promotion costs were related to the Company’s franchise operations.
Income Tax, Policy [Policy Text Block]	Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The benefits from net operating losses carried forward may be impaired or limited in certain circumstances. In addition, a valuation allowance can be provided for deferred tax assets when it is more likely than not that all or some portion of the deferred tax asset will not be realized. The Company files a consolidated U.S. income tax return and tax returns in various state jurisdictions. Review of the Company’s possible tax uncertainties as of November 30, 2015 did not result in any positions requiring disclosure. Should the Company need to record interest and/or penalties related to uncertain tax positions or other tax authority assessments, it would classify such expenses as part of the income tax provision. The Company has not changed any of its tax policies or adopted any new tax positions during the fiscal year ended November 30, 2015 and believes it has filed appropriate tax returns in all jurisdictions for which it has nexus. The Company’s income tax returns for the years ending November 30, 2012, 2013 and 2014 are subject to examination by the IRS and corresponding states, generally for three years after they are filed. (See Note 3.)
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share The Company computes earnings per share (“EPS”) under ASC 260 “Earnings per Share.” Basic net earnings are divided by the weighted average number of common shares outstanding during the year to calculate basic net earnings per common share. Diluted net earnings per common share are calculated to give effect to the potential dilution that could occur if options or other contracts to issue common stock were exercised and resulted in the issuance of additional common shares. 2015 2014 Numerator: Net income available to common shareholders $ 110,632 $ 511,946 Denominator: Weighted average outstanding shares Basic 7,263,508 7,263,508 Earnings per Share - Basic $ 0.02 $ 0.07 Effect of dilutive common stock - - Weighted average outstanding shares Diluted 7,263,508 7,263,508 Earnings per share - Diluted $ 0.02 $ 0.07 At November 30, 2015 and 2014 there are 237,500 and 314,400, respectively of unexercised options that are not included in the computation of dilutive EPS because their impact would be antidilutive due to the market price of the common stock being lower than the option prices. In addition, the weighted average shares do not include any effects for potential shares related to the Preferred Shares Rights Agreement.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The Company recognizes compensation cost using a fair-value based method for all share-based payments granted after November 30, 2006, plus any awards granted to employees up through November 30, 2006 that remain unvested at that time. The Company had no recorded compensation expense arising from share-based payment arrangements for the Company’s stock option plan in 2015 or 2014.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The carrying amounts of financial instruments including cash, accounts receivable, notes receivable, accounts payable and short-term debt approximate their fair values because of the relatively short maturity of these instruments. The carrying value of long-term debt, including the current portion, approximate fair value based upon market prices for the same or similar instruments.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Revenue from Contracts with Customers, ASU 2014-09 establishes a comprehensive revenue recognition standard for virtually all industries in U.S. GAAP, including those that previously followed industry-specific guidance such as the real estate, construction and software industries. The revenue standard’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. The standard requires five basic steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, (v) recognize revenue when (or as) the entity satisfies a performance obligation. Entities will generally be required to make more estimates and use more judgment than under current guidance, which will be highlighted for users through increased disclosure requirements. The ASU is effective for the Company, for annual periods beginning after December 15, 2017. The Company will adopt ASU 2014-09 for fiscal year ending November 30, 2019 and the Company is evaluating the impact that adoption of this guidance might have on the Company’s consolidated financial position, cash flows or results of operations. Management does not believe that there are any other recently issued and effective or not yet effective pronouncements as of November 30, 2015 that would have or are expected to have any significant effect on the Company’s financial position, cash flows or results of operations.

Note 2 - Summary of Significa17

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Nov. 30, 2015
Notes Tables
Schedule of Franchisor Disclosure [Table Text Block]	2015 2014 Operating Units Franchise Owned 84 87 Licensed Units 3 5 87 92 Unopened stores with Franchise Agreements: 7 5 Total operating units and units with Franchise Agreements 94 97
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Goodwill Trademarks Definite Lived Intangibles Total Net Balance as of November 30, 2013 $ 1,493,771 $ 448,022 $ 47,803 $ 1,989,596 Additions - 6,457 1,186 7,643 Amortization expense - - (13,802 ) (13,802 ) Net Balance as of November 30, 2014 1,493,771 454,479 35,187 1,983,437 Additions - 703 2,500 3,203 Amortization expense - - (14,700 ) (14,700 ) Net Balance as of November 30, 2015 $ 1,493,771 $ 455,182 $ 22,987 $ 1,971,940
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Fiscal Period Definite Lived Intangibles 2016 $ 15,325 2017 7,662 Total $ 22,987
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2015 2014 Numerator: Net income available to common shareholders $ 110,632 $ 511,946 Denominator: Weighted average outstanding shares Basic 7,263,508 7,263,508 Earnings per Share - Basic $ 0.02 $ 0.07 Effect of dilutive common stock - - Weighted average outstanding shares Diluted 7,263,508 7,263,508 Earnings per share - Diluted $ 0.02 $ 0.07

Note 3 - Income Taxes (Tables)

Note 3 - Income Taxes (Tables)	12 Months Ended
	Nov. 30, 2015
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2015 2014 Current Federal $ - $ - State (8,500 ) 22,417 Deferred - - Total $ (8,500 ) $ 22,417
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2015 2014 Federal income tax provision computed at federal statutory rate $ 37,400 $ 174,062 State income taxes, net of federal tax provision 5,445 30,410 Other adjustments 21,657 24,183 Change in valuation allowance and expiration of certain net operating losses (73,002 ) (206,238 ) Income Tax Provision $ (8,500 ) $ 22,417
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2015 2014 Deferred revenue $ 53,394 $ 28,790 Deferred rent 18,229 19,803 Marketing Fund net contributions 163,878 75,796 Allowance for doubtful accounts and notes receivable 12,883 19,271 Accrued expenses 70,000 64,765 Net operating loss carryforwards 1,404,222 1,604,057 Valuation allowance (827,445 ) (900,447 ) Total Deferred Income Tax Asset $ 895,161 $ 912,035 Depreciation and amortization $ (645,909 ) $ (661,953 ) Franchise Costs (1,252 ) (2,082 ) Total Deferred Income Tax Liabilities $ (647,161 ) $ (664,035 ) Total Net Deferred Tax Asset $ 248,000 $ 248,000

Note 6 - Stock Options (Tables)

Note 6 - Stock Options (Tables)	12 Months Ended
	Nov. 30, 2015
Notes Tables
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	2015 2014 Options Weighted average exercise price Options Weighted average exercise price Options outstanding at beginning of year 314,400 $ 1.16 368,373 $ 1.16 Forfeited or expired (76,900 ) 0.93 (53,973 ) 0.96 Outstanding at end of year 237,500 $ 1.275 314,400 $ 1.156
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Options Outstanding and Exercisable Weighted average Weighted Range of Options remaining average exercise price outstanding contractual life exercise price $1.15 - $1.27 62,500 0.25 $ 1.227 $0.97 20,000 1.00 $ 0.970 $1.25 - $1.38 155,000 1.00 $ 1.334 237,500 $ 1.275
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]	Options Outstanding Options Exercisable Outstanding Wghtd. Avg. Wghtd. Avg. Aggregate Exercisable Wghtd. Avg. Aggregate at 11/30/15 Remaining Life Exercise Price Intrinsic Value at 11/30/15 Exercise Price Intrinsic Value 237,500 0.80 $ 1.275 $ - 237,500 $ 1.275 $ -

Note 7 - Commitments (Tables)

Note 7 - Commitments (Tables)	12 Months Ended
	Nov. 30, 2015
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year Ending November 30: 2016 $ 120,257 2017 134,843 2018 115,197 Total $ 370,297

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details Textual)	Nov. 30, 2015	Nov. 30, 2014
Franchised Units [Member]
Number of Stores	84	87
Licensed Units [Member]
Number of Stores	3	5
Units Under Development [Member]
Number of Stores	7
Number of States in which Entity Operates	23
Number of Wholly Owned Subsidiaries	3
Number of Stores	94	97

Note 2 - Summary of Significa22

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Marketing Fund [Member]
Restricted Cash and Cash Equivalents	$ 421,000	$ 190,000
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	7 years
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life	10 years
Allocated Share-based Compensation Expense	$ 0	0
Number of Reportable Segments	1
Goodwill, Impairment Loss	$ 0
Royalty Fees From Franchises Percentage	5.00%
Cash, FDIC Insured Amount	$ 250,000
Advertising Expense	$ 57,000	$ 38,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	237,500	314,400

Note 2 - Summary of Significa23

Note 2 - Summary of Significant Accounting Policies - Operating Units (Details)	Nov. 30, 2015	Nov. 30, 2014
Franchised Units [Member]
Operating Units
Operating Units and Units with Franchise Agreements	84	87
Licensed Units [Member]
Operating Units
Operating Units and Units with Franchise Agreements	3	5
Total Franchised Owned and Licensed Units [Member]
Operating Units
Operating Units and Units with Franchise Agreements	87	92
Unopened Store [Member]
Operating Units
Operating Units and Units with Franchise Agreements	7	5
Operating Units and Units with Franchise Agreements	94	97

Note 2 - Summary of Significa24

Note 2 - Summary of Significant Accounting Policies - Net Book Value of Goodwill and Intangible Assets with Indefinite and Definite Lives (Details) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Goodwill [Member]
Net Balance	$ 1,493,771	$ 1,493,771
Additions
Amortization expense
Net Balance	$ 1,493,771	$ 1,493,771
Trademarks [Member]
Net Balance	454,479	448,022
Additions	$ 703	$ 6,457
Amortization expense
Net Balance	$ 455,182	$ 454,479
Definite Lived Intangible Assets [Member]
Net Balance	35,187	47,803
Additions	2,500	1,186
Amortization expense	(14,700)	(13,802)
Net Balance	22,987	35,187
Net Balance	1,983,437	1,989,596
Additions	3,203	7,643
Amortization expense	(14,700)	(13,802)
Net Balance	$ 1,971,940	$ 1,983,437

Note 2 - Summary of Significa25

Note 2 - Summary of Significant Accounting Policies - Estimated Amortization Expense (Details)	Nov. 30, 2015USD ($)
2,016	$ 15,325
2,017	7,662
Total	$ 22,987

Note 2 - Summary of Significa26

Note 2 - Summary of Significant Accounting Policies - Computation of Earnings Per Share (Details) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Net income available to common shareholders	$ 110,632	$ 511,946
Weighted average outstanding shares
Basic (in shares)	7,263,508	7,263,508
Earnings per Share - Basic (in dollars per share)	$ 0.02	$ 0.07
Effect of dilutive common stock (in shares)
Diluted (in shares)	7,263,508	7,263,508
Earnings per share - Diluted (in dollars per share)	$ 0.02	$ 0.07

Note 3 - Income Taxes (Details

Note 3 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Effective Income Tax Rate Reconciliation, Percent	34.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	4.95%
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	$ 3,605,000
Deferred Tax Assets, Valuation Allowance	$ 827,445	$ 900,447

Note 3 - Income Taxes - Compone

Note 3 - Income Taxes - Components of the Current Provision (Benefit) for Income Taxes (Details) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Current
Federal	$ 0	$ 0
State	(8,500)	22,417
Deferred	0	0
Total	$ (8,500)	$ 22,417

Note 3 - Income Taxes - Reconci

Note 3 - Income Taxes - Reconciliation of the Expected Income Tax Expense (Benefit) to the Recorded Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Federal income tax provision computed at federal statutory rate	$ 37,400	$ 174,062
State income taxes, net of federal tax provision	5,445	30,410
Other adjustments	21,657	24,183
Change in valuation allowance and expiration of certain net operating losses	(73,002)	(206,238)
Total	$ (8,500)	$ 22,417

Note 3 - Income Taxes - The Com

Note 3 - Income Taxes - The Components of the Deferred Tax Assets and Liabilities for Federal and State Income Taxes (Details) - USD ($)	Nov. 30, 2015	Nov. 30, 2014
Deferred revenue	$ 53,394	$ 28,790
Deferred rent	18,229	19,803
Marketing Fund net contributions	163,878	75,796
Allowance for doubtful accounts and notes receivable	12,883	19,271
Accrued expenses	70,000	64,765
Net operating loss carryforwards	1,404,222	1,604,057
Valuation allowance	(827,445)	(900,447)
Total Deferred Income Tax Asset	895,161	912,035
Depreciation and amortization	(645,909)	(661,953)
Franchise Costs	(1,252)	(2,082)
Total Deferred Income Tax Liabilities	(647,161)	(664,035)
Total Net Deferred Tax Asset	$ 248,000	$ 248,000

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) - USD ($)	Sep. 06, 2002	Sep. 06, 2002	Nov. 30, 2015	Nov. 30, 2014
Debt Instrument, Periodic Payment	$ 35,000
Debt Instrument, Interest Rate, Stated Percentage	4.75%	4.75%
Debt Instrument, Term	15 years
Debt Instrument, Face Amount	$ 386,000	$ 386,000
Stock Repurchased and Retired During Period, Shares		1,380,040
Notes Payable, Noncurrent			$ 33,000	$ 65,000

Note 5 - Stockholders' Equity (

Note 5 - Stockholders' Equity (Details Textual) - USD ($)	Jan. 06, 2016	Dec. 03, 2015	Oct. 06, 2015	Sep. 02, 2015	Jul. 08, 2015	Jun. 04, 2015	Apr. 10, 2015	Mar. 02, 2015	Jan. 06, 2015	Dec. 03, 2014	Oct. 06, 2014	Sep. 02, 2014	Jul. 16, 2014	Jun. 13, 2014	Apr. 14, 2014	Mar. 12, 2014	Jan. 03, 2014	Dec. 02, 2013	May. 13, 2013	May. 06, 2013	Nov. 30, 2015	Nov. 30, 2014
Subsequent Event [Member] | Special Cash Distribution [Member]
Common Stock, Dividends, Per Share, Declared		$ 0.02
Common Stock, Dividends, Per Share, Cash Paid	$ 0.02
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared		0.01
Common Stock, Dividends, Per Share, Cash Paid		$ 0.01
Special Cash Distribution [Member]
Common Stock, Dividends, Per Share, Declared										$ 0.01								$ 0.02
Common Stock, Dividends, Per Share, Cash Paid									$ 0.01								$ 0.02
Common Stock, Dividends, Per Share, Declared				$ 0.01		$ 0.01		$ 0.01		$ 0.01		$ 0.01		$ 0.01		$ 0.01		$ 0.01			$ 0.05	$ 0.06
Common Stock, Dividends, Per Share, Cash Paid			$ 0.01		$ 0.01		$ 0.01		$ 0.01		$ 0.01		$ 0.01		$ 0.01		$ 0.01
Preferred Stock Dividends Number of Rights Declared																				1
Preferred Stock Dividends Number of Rights Issued																			1
Preferred Stock Dividends Number of Rights Minimum Percent of Common Stock that must be Acquired to Make Rights Exercisable																			15.00%
Preferred Stock Dividends Number of Rights Minimum Percent of Common Stock that Must be Acquired to Make Rights Exercisable Institutional Investors																			20.00%
Preferred Stock Dividends Rights Exercise Price																			$ 0.90
Preferred Stock Dividends Rights Expiration Term																			3 years

Note 6 - Stock Options (Details

Note 6 - Stock Options (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	May. 31, 2001
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	0
Allocated Share-based Compensation Expense	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			1,400,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit	$ 0.97
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit	1.38
Share Price	$ 0.56

Note 6 - Stock Options - Stock

Note 6 - Stock Options - Stock Option Activity (Details) - $ / shares	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Minimum [Member]
Outstanding at end of year (in dollars per share)	$ 1.275
Maximum [Member]
Options outstanding at beginning of year (in dollars per share)	$ 1.156
Outstanding at end of year (in dollars per share)		$ 1.156
Options outstanding at beginning of year (in shares)	314,400	368,373
Options outstanding at beginning of year (in dollars per share)	$ 1.16	$ 1.16
Forfeited or expired (in shares)	(76,900)	(53,973)
Forfeited or expired (in dollars per share)	$ 0.93	$ 0.96
Outstanding at end of year (in shares)	237,500	314,400
Outstanding at end of year (in dollars per share)	$ 1.275	$ 1.16

Note 6 - Stock Options - Option

Note 6 - Stock Options - Options Outstanding and Exercisable (Details)	12 Months Ended
	Nov. 30, 2015$ / sharesshares
Price Range 1 [Member]
Lower range of exercise price (in dollars per share)	$ 1.15
Upper range of exercise price (in dollars per share)	$ 1.27
Options Outstanding (in shares) | shares	62,500
Options Outstanding Wghtd. Avg. Remaining Life	91 days
Options Outstanding Wghtd. Avg. Exercise Price (in dollars per share)	$ 1.227
Price Range 2 [Member]
Options Outstanding (in shares) | shares	20,000
Options Outstanding Wghtd. Avg. Remaining Life	1 year
Options Outstanding Wghtd. Avg. Exercise Price (in dollars per share)	$ 0.97
Price Range 3 [Member]
Lower range of exercise price (in dollars per share)	1.25
Upper range of exercise price (in dollars per share)	$ 1.38
Options Outstanding (in shares) | shares	155,000
Options Outstanding Wghtd. Avg. Remaining Life	1 year
Options Outstanding Wghtd. Avg. Exercise Price (in dollars per share)	$ 1.334
Lower range of exercise price (in dollars per share)	0.97
Upper range of exercise price (in dollars per share)	$ 1.38
Options Outstanding (in shares) | shares	237,500
Options Outstanding Wghtd. Avg. Remaining Life	292 days
Options Outstanding Wghtd. Avg. Exercise Price (in dollars per share)	$ 1.275

Note 6 - Stock Options - Aggreg

Note 6 - Stock Options - Aggregate Intrinsic Value (Details)	12 Months Ended
	Nov. 30, 2015USD ($)$ / sharesshares
Options Outstanding (in shares) | shares	237,500
Options Outstanding Wghtd. Avg. Remaining Life	292 days
Options Outstanding Wghtd. Avg. Exercise Price (in dollars per share) | $ / shares	$ 1.275
Options Outstanding Aggregate Intrinsic Value | $	$ 0
Options Exercisable (in shares) | shares	237,500
Options Exercisable Wghtd. Avg. Exercise Price (in dollars per share) | $ / shares	$ 1.275
Options Exercisable Aggregate Intrinsic Value | $	$ 0

Note 7 - Commitments (Details T

Note 7 - Commitments (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Operating Leases, Rent Expense, Net	$ 169,000	$ 177,000

Note 7 - Commitments - Future M

Note 7 - Commitments - Future Minimum Annual Rental Commitments under Corporate Lease (Details)	Nov. 30, 2015USD ($)
2,016	$ 120,257
2,017	134,843
2,018	115,197
Total	$ 370,297

Note 8 - Employee Benefit Plan

Note 8 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 35,000	$ 0
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	4.00%

Note 9 - Contingencies (Details

Note 9 - Contingencies (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2015	Nov. 30, 2015	Nov. 30, 2014
Litigation Settlement, Expense	$ 243,000	$ 243,046