BAB (BABB) 10-Q 14 Apr 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Feb. 28, 2021	Apr. 14, 2021
Document Information [Line Items]
Entity Registrant Name	BAB, INC.
Entity Central Index Key	0001123596
Trading Symbol	babb
Current Fiscal Year End Date	--11-30
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		7,263,508
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Feb. 28, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Feb. 28, 2021	Nov. 30, 2020
Current Assets
Cash	$ 1,332,529	$ 1,236,081
Restricted cash	389,721	396,842
Receivables
Trade accounts and notes receivable (net of allowance for doubtful accounts of $16,743 in 2021 and $18,152 in 2020 )	62,773	62,969
Marketing fund contributions receivable from franchisees and stores	18,424	17,544
Prepaid expenses and other current assets	87,257	96,723
Total Current Assets	1,890,704	1,810,159
Property, plant and equipment (net of accumulated depreciation of $157,504 in 2021 and $157,118 in 2020)	1,910	2,296
Trademarks	461,445	461,445
Goodwill	1,493,771	1,493,771
Definite lived intangible assets (net of accumulated amortization of $128,301 in 2021 and $127,474 in 2020)	22,880	23,707
Operating lease right of use	282,143	303,084
Total Noncurrent Assets	2,262,149	2,284,303
Total Assets	4,152,853	4,094,462
Current Liabilities
Accounts payable	4,293	10,279
Accrued expenses and other current liabilities	322,510	288,888
Contract with customer, liability, current	615,804	599,965
Current portion operating lease liability	100,937	99,149
Payroll Protection Program loan		228,155
Total Current Liabilities	900,431	1,078,616
Long-term Liabilities (net of current portion)
Operating lease liability	234,047	260,094
Contract with customer, liability, noncurrent	95,334	97,798
Deferred tax liability	105,940	84,940
Total Long-term Liabilities	418,799	442,832
Total Liabilities	1,319,230	1,521,448
Stockholders' Equity
Preferred shares
Common stock -$.001 par value; 15,000,000 shares authorized; 8,466,953 shares issued and 7,263,508 shares outstanding as of February 28, 2021 and November 30, 2020	13,508,257	13,508,257
Additional paid-in capital	987,034	987,034
Treasury stock	(222,781)	(222,781)
Accumulated deficit	(11,438,887)	(11,699,496)
Total Stockholders' Equity	2,833,623	2,573,014
Total Liabilities and Stockholders' Equity	4,152,853	4,094,462
Series A Preferred Stock [Member]
Stockholders' Equity
Preferred shares
Marketing Fund [Member]
Current Liabilities
Contract with customer, liability, current	406,659	387,117
Franchise [Member]
Current Liabilities
Contract with customer, liability, current	42,460	33,957
Long-term Liabilities (net of current portion)
Contract with customer, liability, noncurrent	75,836	93,929
License [Member]
Current Liabilities
Contract with customer, liability, current	23,572	31,071
Long-term Liabilities (net of current portion)
Contract with customer, liability, noncurrent	$ 2,976	$ 3,869

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Feb. 28, 2021	Nov. 30, 2020
Trade accounts and notes receivable, allowance for doubtful accounts	$ 16,743	$ 18,152
Property, plant and equipment, accumulated depreciation	157,504	157,118
Definite lived intangible assets, accumulated amortization	$ 128,301	$ 127,474
Preferred shares, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred shares, authorized (in shares)	4,000,000	4,000,000
Preferred shares, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	15,000,000	15,000,000
Common stock, issued (in shares)	8,466,953	8,466,953
Common stock, outstanding (in shares)	7,263,508	7,263,508
Series A Preferred Stock [Member]
Preferred shares, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred shares, authorized (in shares)	1,000,000	1,000,000
Preferred shares, outstanding (in shares)	0	0

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
REVENUES
Revenues	$ 722,905	$ 695,684
OPERATING EXPENSES
Payroll and payroll-related expenses	209,770	230,405
Occupancy	34,706	33,678
Advertising and promotion	1,568	13,910
Professional service fees	58,037	49,117
Travel	1,027	7,999
Employee benefit expenses	37,998	37,190
Depreciation and amortization	1,214	740
Marketing fund expenses	201,476	227,521
Other	40,142	37,034
Total Operating Expenses	585,938	637,594
Income from operations	136,967	58,090
Interest income	123	104
Loan forgiveness	228,155
Income before provision for income taxes	365,245	58,194
Provision for income taxes
Current tax expense	11,000	15,000
Deferred tax expense	21,000
Total Tax Provision	32,000	15,000
Net Income	$ 333,245	$ 43,194
Net Income per share - Basic and Diluted (in dollars per share)	$ 0.05	$ 0.01
Weighted average shares outstanding - Basic and diluted (in shares)	7,263,508	7,263,508
Cash distributions declared per share (in dollars per share)	$ 0.01	$ 0.03
Royalty [Member]
REVENUES
Revenues	$ 346,660	$ 387,339
Franchise [Member]
REVENUES
Revenues	16,839	3,650
Licensing Fees and Other Income [Member]
REVENUES
Revenues	157,930	77,174
Marketing Fund [Member]
REVENUES
Revenues	$ 201,476	$ 227,521

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Operating activities
Net Income	$ 333,245	$ 43,194
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization	1,213	740
Deferred tax expense	21,000
Provision for uncollectible accounts, net of recoveries	(609)	(2,646)
Noncash lease expense	24,827	35,094
Loan forgiveness	(228,155)
Changes in:
Trade accounts receivable and notes receivable	26,588	(7,511)
Marketing fund contributions receivable	(880)	(2,613)
Prepaid expenses and other	9,466	10,740
Accounts payable	(5,986)	1,040
Accrued liabilities	33,621	(3,189)
Unexpended marketing fund contributions	(6,241)	(11,458)
Deferred revenue	(17,981)	14,465
Operating lease liability	(28,145)	(27,483)
Net Cash Provided by Operating Activities	161,963	50,373
Investing activities
Capitalization of trademark renewals		(1,525)
Net Cash Used In Investing Activities		(1,525)
Financing activities
Cash distributions/dividends	(72,636)	(217,906)
Net Cash Used In Financing Activities	(72,636)	(217,906)
Net Increase/(Decrease) in Cash and Restricted Cash	89,327	(169,058)
Cash and Restricted Cash - Beginning of Period	1,632,923	1,495,669
Cash and Restricted Cash - End of Period	1,722,250	1,326,611
Supplemental disclosure of cash flow information:
Interest paid
Income taxes paid	$ 1,700

Note 1 - Nature of Operations

Note 1 - Nature of Operations	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Nature of Operations [Text Block]	Note 1. BAB, Inc. (“the Company”) has three December 2, 1992, 1997 1996 1995, none. 1999, 2009 no The Company was incorporated under the laws of the State of Delaware on July 12, 2000. February 28, 2021, 71 3 21 1 The BAB franchised brand consists of units operating as “Big Apple Bagels®,” featuring daily baked bagels, flavored cream cheeses, premium coffees, gourmet bagel sandwiches and other related products. BAB units are primarily concentrated in the Midwest and Western United States. The MFM brand consists of units operating as “My Favorite Muffin Gourmet Muffin Bakery™” (“MFM Bakery”), featuring a large variety of freshly baked muffins and coffees and units operating as “My Favorite Muffin Your All Day Bakery Café®” (“MFM Cafe”) featuring these products as well as a variety of specialty bagel sandwiches and related products. The SweetDuet® is a branded self-serve frozen yogurt that can be added as an additional brand in a BAB location. Although the Company doesn't actively market Brewster's stand-alone franchises, Brewster's coffee products are sold in most franchised units. The Company is leveraging on the natural synergy of distributing muffin products in existing BAB units and, alternatively, bagel products and Brewster's Coffee in existing MFM units. The Company expects to continue to realize efficiencies in servicing the combined base of BAB and MFM franchisees. The accompanying condensed consolidated financial statements are unaudited. These financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted pursuant to such SEC rules and regulations; nevertheless, the Company believes that the disclosures are adequate to make the information presented not 10 November 30, 2020 February 26, 2021. not

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Unaudited Consolidated Financial Statements The accompanying unaudited Condensed Consolidated Financial Statements of BAB, Inc. have been prepared pursuant to generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for Form 10 Use of Estimates The preparation of the financial statements and accompanying notes are 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, liabilities, revenue and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates. 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 Property, Plant and Equipment Property, 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 7 10 Advertising and Promotion Costs The Company expenses advertising and promotion costs as incurred. All advertising and promotion costs were related to the Company's franchise operations. Leases The company accounts for leases under ASC 842. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not may Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13 December 15, 2023. 2019 13 November 30, 2024 not . In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 740 2019 12 December 15, 2020, 2019 12 November 30, 2022 not . Management does not not February 28, 2021 Statement of Cash Flows The chart below shows the cash and restricted cash within the consolidated statements of cash flows as of February 28, 2021 February 29, 2020 February 28, 2021 February 29, 2020 Cash and cash equivalents $ 1,332,529 $ 939,402 Restricted cash 389,721 387,209 Total cash and restricted cash $ 1,722,250 $ 1,326,611

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3. Franchise and related revenue The Company sells individual franchises. The franchise agreements typically require the franchisee to pay an initial, non-refundable fee prior to opening the respective location(s), and continuing royalty fees on a weekly basis based upon a percentage of franchisee net sales. The initial term of franchise agreements are typically 10 may may no Under the terms of our franchise agreements, the Company typically promises to provide franchise rights, pre-opening services such as blueprints, operational materials, planning and functional training courses, and ongoing services, such as management of the marketing fund. The Company considers certain pre-opening activities and the franchise rights and related ongoing services to represent two two Royalty fees from franchised stores represent a 5% not 10 Royalty revenue is recognized during the respective franchise agreement based on the royalties earned each period as the underlying franchise store sales occur. There are two one Gift Card Breakage Revenue The Company sells gift cards to its customers in its retail stores and through its Corporate office. The Company's gift cards do not not The liability is reduced when the gift cards are redeemed by a franchise. Although there are no Nontraditional and rebate revenue As part of the Company's franchise agreements, the franchisee purchases products and supplies from designated vendors. The Company may may not Marketing Fund Franchise agreements require the franchisee to pay continuing marketing fees on a weekly basis, based on a percentage of franchisee sales. Marketing fees are not not no Disaggregation of Revenue The following table presents disaggregation of revenue from contracts with customers for the three February 28, 2021and February 29, 2020: For three months ended February 28, 2021 For three months ended February 29, 2020 Revenue recognized at a point in time Sign Shop revenue $ 3,002 $ 909 Settlement revenue 95,307 631 Total revenue at a point in time 98,309 1,540 Revenue recognized over time Royalty revenue 346,660 387,339 Franchise fees 16,839 3,650 License fees 6,750 9,041 Gift card revenue 1,561 2,451 Nontraditional revenue 51,310 64,142 Marketing fund revenue 201,476 227,521 Total revenue over time 624,596 694,144 Grand total $ 722,905 $ 695,684 Contract balances The balance of contract liabilities includes franchise fees, license fees and vendor payments that have ongoing contract rights and the fees are being straight lined over the contract life. Contract liabilities also include marketing fund balances and gift card liability balances. For the Three Months Ended February 28, 2021 Fiscal Year to Date November 30, 2020 Liabilities Contract liabilities - current $ 615,804 $ 599,965 Contract liabilities - long-term 95,334 97,798 Total Contract Liabilities $ 711,138 $ 697,763 For the Three Months Ended February 28, 2021 Fiscal Year to Date November 30, 2020 Contract Liabilities at beginning of period $ 697,763 $ 702,834 Revenue Recognized during period (235,660 ) (780,940 ) Additions during period 249,035 775,869 Contract Liabilities at end of period $ 711,138 $ 697,763 Transaction price allocated to remaining performance obligations (franchise agreements and license fee agreement) for the year ended November 30: (a) 2021 $ 45,647 2022 $ 20,281 2023 $ 15,837 2024 $ 13,706 2025 $ 13,540 Thereafter $ 35,833 Total $ 144,844 (a) represents the estimate for the remainder of 2021 The Company has elected to apply certain practical expedients as defined in ASC 606 10 50 14 606 10 50 14A, one not

Note 4 - Units Open and Under D

Note 4 - Units Open and Under Development	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Units Open and Under Development [Text Block]	4. Units which are open or under development at February 28, 2021 February 28, 2021 February 29, 2020 Stores open: Franchisee-owned stores 71 73 Licensed Units 3 7 74 80 Unopened stores with Franchise Agreements 1 2 Total operating units and units with Franchise Agreements 75 82

Note 5 - Earnings Per Share

Note 5 - Earnings Per Share	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	5. The following table sets forth the computation of basic and diluted earnings per share: February 28, 2021 February 29, 2020 Numerator: Net income available to common shareholders $ 333,245 $ 43,194 Denominator: Weighted average outstanding shares Basic and diluted 7,263,508 7,263,508 Earnings per Share - Basic and diluted $ 0.05 $ 0.01

Note 6 - Goodwill and Other Int

Note 6 - Goodwill and Other Intangible Assets	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6. Accounting Standard Codification (“ASC”) 350 no Following the guidelines contained in ASC 350, not first February 28, 2021 February 29, 2020, not Although the COVID- 19 2020 83.7% 2019 2021 10.5% 2020 2021 first 2021 not February 28, 2021. After reviewing the changes to the Company's operations and overall business environment during the first 2021, not February 28, 2021, not February 28, 2021.

Note 7 - Lease Commitments

Note 7 - Lease Commitments	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Commitments Disclosure [Text Block]	7. The Company rents its office under an operating lease which requires it to pay base rent, real estate taxes, insurance and general repairs and maintenance. A lease was signed in June 2018, October 1, 2018, March 31, 2024 5 six $21,300. not Monthly rent expense is recognized on a straight-line basis over the term of the lease. At February 28, 2021 37 5.25% Gross future minimum annual rental commitments as of February 28, 2021 Undiscounted Rent Payments Year Ending November 30: 2021 $ 84,878 2022 115,673 2023 118,322 2024 40,177 Total Undiscounted Rent Payments $ 359,050 Present Value Discount (24,066 ) Present Value $ 334,984 Short-term lease liability $ 100,937 Long-term lease liability 234,047 Total Operating Lease Liability $ 334,984

Note 8 - Payroll Protection Pro

Note 8 - Payroll Protection Program Loan	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	8. On May 1, 2020, $228,155 1 March 27, 2020. On December 9, 2020 $228,155 February 28, 2021.

Note 9 - Income Taxes

Note 9 - Income Taxes	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. On December 9, 2020 In fiscal 2021, $228,000 21% 7.11%,

Note 10 - Stockholder's Equity

Note 10 - Stockholder's Equity	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	10. s Equity On March 17, 2021 $0.01 April 1, 2021, April 22, 2021. January 27, 2021 $0.01 February 10, 2021 February 24, 2021. On December 5, 2019, $0.01 $0.02 January 9, 2020. March 4, 2020, $0.01 March 23, 2020 April 08, 2020. On May 6, 2013, one May 13, 2013. one one $0.90 one May 6, 2013, The Board adopted the Rights Agreement to protect stockholders from coercive or otherwise unfair takeover tactics. In general terms, it works by imposing a significant penalty upon any person or group that acquires 15% 20% 13G may not Full details about the Rights Plan are contained in a Form 8 May 7, 2013. On June 18, 2014 August 18, 2015 fifth May 22, 2017 seventh February 22, 2019 ninth March 4, 2021 eleventh

Note 11 - Uncertainties and Cov

Note 11 - Uncertainties and Covid-19	3 Months Ended
	Feb. 28, 2021
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	11. 19 The COVID- 19 2020 April May 2020. 2020 first February 28, 2021 While the Coronavirus pandemic has created challenges for restaurants around the country, our franchisees have done what we believe is an excellent job adapting to the changing regulations and government mandates through the last 12 2021 first 2021 10.5% 2020. first 2021 February

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Feb. 28, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Unaudited Consolidated Financial Statements The accompanying unaudited Condensed Consolidated Financial Statements of BAB, Inc. have been prepared pursuant to generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for Form 10
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the financial statements and accompanying notes are 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, liabilities, revenue and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported periods. Actual results could differ from those estimates.
Receivable [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
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment Property, 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 7 10
Advertising Cost [Policy Text Block]	Advertising and Promotion Costs The Company expenses advertising and promotion costs as incurred. All advertising and promotion costs were related to the Company's franchise operations.
Lessee, Leases [Policy Text Block]	Leases The company accounts for leases under ASC 842. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not may
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments Credit Losses (Topic 326 2016 13 December 15, 2023. 2019 13 November 30, 2024 not . In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 740 2019 12 December 15, 2020, 2019 12 November 30, 2022 not . Management does not not February 28, 2021
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Statement of Cash Flows The chart below shows the cash and restricted cash within the consolidated statements of cash flows as of February 28, 2021 February 29, 2020 February 28, 2021 February 29, 2020 Cash and cash equivalents $ 1,332,529 $ 939,402 Restricted cash 389,721 387,209 Total cash and restricted cash $ 1,722,250 $ 1,326,611

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Feb. 28, 2021
Notes Tables
Cash, Cash Equivalents, and Restricted Cash, Cash Flow Statement Reconciliation [Table Text Block]	February 28, 2021 February 29, 2020 Cash and cash equivalents $ 1,332,529 $ 939,402 Restricted cash 389,721 387,209 Total cash and restricted cash $ 1,722,250 $ 1,326,611

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	3 Months Ended
	Feb. 28, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	For three months ended February 28, 2021 For three months ended February 29, 2020 Revenue recognized at a point in time Sign Shop revenue $ 3,002 $ 909 Settlement revenue 95,307 631 Total revenue at a point in time 98,309 1,540 Revenue recognized over time Royalty revenue 346,660 387,339 Franchise fees 16,839 3,650 License fees 6,750 9,041 Gift card revenue 1,561 2,451 Nontraditional revenue 51,310 64,142 Marketing fund revenue 201,476 227,521 Total revenue over time 624,596 694,144 Grand total $ 722,905 $ 695,684
Contract With Customer Asset and Liability, Subject to Change [Table Text Block]	For the Three Months Ended February 28, 2021 Fiscal Year to Date November 30, 2020 Liabilities Contract liabilities - current $ 615,804 $ 599,965 Contract liabilities - long-term 95,334 97,798 Total Contract Liabilities $ 711,138 $ 697,763
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	For the Three Months Ended February 28, 2021 Fiscal Year to Date November 30, 2020 Contract Liabilities at beginning of period $ 697,763 $ 702,834 Revenue Recognized during period (235,660 ) (780,940 ) Additions during period 249,035 775,869 Contract Liabilities at end of period $ 711,138 $ 697,763
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	(a) 2021 $ 45,647 2022 $ 20,281 2023 $ 15,837 2024 $ 13,706 2025 $ 13,540 Thereafter $ 35,833 Total $ 144,844

Note 4 - Units Open and Under_2

Note 4 - Units Open and Under Development (Tables)	3 Months Ended
	Feb. 28, 2021
Notes Tables
Schedule of Franchisor Disclosure [Table Text Block]	February 28, 2021 February 29, 2020 Stores open: Franchisee-owned stores 71 73 Licensed Units 3 7 74 80 Unopened stores with Franchise Agreements 1 2 Total operating units and units with Franchise Agreements 75 82

Note 5 - Earnings Per Share (Ta

Note 5 - Earnings Per Share (Tables)	3 Months Ended
	Feb. 28, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	February 28, 2021 February 29, 2020 Numerator: Net income available to common shareholders $ 333,245 $ 43,194 Denominator: Weighted average outstanding shares Basic and diluted 7,263,508 7,263,508 Earnings per Share - Basic and diluted $ 0.05 $ 0.01

Note 7 - Lease Commitments (Tab

Note 7 - Lease Commitments (Tables)	3 Months Ended
	Feb. 28, 2021
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Undiscounted Rent Payments Year Ending November 30: 2021 $ 84,878 2022 115,673 2023 118,322 2024 40,177 Total Undiscounted Rent Payments $ 359,050 Present Value Discount (24,066 ) Present Value $ 334,984 Short-term lease liability $ 100,937 Long-term lease liability 234,047 Total Operating Lease Liability $ 334,984

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details Textual)	Feb. 28, 2021	Feb. 29, 2020
Number of Wholly Owned Subsidiaries	3
Number of Stores	75	82
Number of States in which Entity Operates	21
Franchised Units [Member]
Number of Stores	71	73
Licensed Units [Member]
Number of Stores	3	7

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended
	Feb. 28, 2021
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Summary of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)	Feb. 28, 2021	Nov. 30, 2020	Feb. 29, 2020	Nov. 30, 2019
Cash and cash equivalents	$ 1,332,529	$ 1,236,081	$ 939,402
Restricted cash	389,721		387,209
Total cash and restricted cash	$ 1,722,250	$ 1,632,923	$ 1,326,611	$ 1,495,669

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual)	3 Months Ended
	Feb. 28, 2021
Initial Franchise Term (Year)	10 years

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Revenues	$ 722,905	$ 695,684
Transferred at Point in Time [Member]
Revenues	98,309	1,540
Transferred over Time [Member]
Revenues	624,596	694,144
Sign Shop [Member] | Transferred at Point in Time [Member]
Revenues	3,002	909
Structured Settlement Annuity [Member] | Transferred at Point in Time [Member]
Revenues	95,307	631
Royalty [Member]
Revenues	346,660	387,339
Royalty [Member] | Transferred over Time [Member]
Revenues	346,660	387,339
Franchise [Member]
Revenues	16,839	3,650
Franchise [Member] | Transferred over Time [Member]
Revenues	16,839	3,650
License [Member] | Transferred over Time [Member]
Revenues	6,750	9,041
Gift Card [Member] | Transferred over Time [Member]
Revenues	1,561	2,451
Non-traditional Revenue [Member] | Transferred over Time [Member]
Revenues	51,310	64,142
Marketing Fund [Member]
Revenues	201,476	227,521
Marketing Fund [Member] | Transferred over Time [Member]
Revenues	$ 201,476	$ 227,521

Note 3 - Revenue Recognition _2

Note 3 - Revenue Recognition - Contract Balances Subject to ASC 606 (Details) - USD ($)	Feb. 28, 2021	Nov. 30, 2020
Contract liabilities - current	$ 615,804	$ 599,965
Contract liabilities - long-term	95,334	97,798
Total Contract Liabilities	$ 711,138	$ 697,763

Note 3 - Revenue Recognition _3

Note 3 - Revenue Recognition - Changes in Contract Balances (Details) - USD ($)	3 Months Ended	12 Months Ended
	Feb. 28, 2021	Nov. 30, 2020
Contract Liabilities at beginning of period	$ 697,763	$ 702,834
Revenue Recognized during period	(235,660)	(780,940)
Additions during period	249,035	775,869
Contract Liabilities at end of period	$ 711,138	$ 697,763

Note 3 - Revenue Recognition _4

Note 3 - Revenue Recognition - Remaining Performance Obligations (Details)	Feb. 28, 2021USD ($)
Revenue, remaining performance obligation, amount	$ 144,844

Note 3 - Revenue Recognition _5

Note 3 - Revenue Recognition - Remaining Performance Obligations 2 (Details)	Feb. 28, 2021USD ($)
Revenue, remaining performance obligation, amount	$ 144,844
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-01
Revenue, remaining performance obligation, amount	45,647	[1]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-01
Revenue, remaining performance obligation, amount	20,281
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-01
Revenue, remaining performance obligation, amount	15,837
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-01
Revenue, remaining performance obligation, amount	13,706
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-01
Revenue, remaining performance obligation, amount	13,540
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-01
Revenue, remaining performance obligation, amount	$ 35,833
[1]	represents the estimate for the remainder of 2021

Note 3 - Revenue Recognition _6

Note 3 - Revenue Recognition - Remaining Performance Obligations (Details) (Parentheticals)	Feb. 28, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-01
Revenue, remaining performance obligation, period (Year)	1 year

Note 4 - Units Open and Under_3

Note 4 - Units Open and Under Development - Operating Units (Details)	Feb. 28, 2021	Feb. 29, 2020
Operating Units and Units with Franchise Agreements	75	82
Franchised Units [Member]
Operating Units and Units with Franchise Agreements	71	73
Licensed Units [Member]
Operating Units and Units with Franchise Agreements	3	7
Total Franchised Owned and Licensed Units [Member]
Operating Units and Units with Franchise Agreements	74	80
Unopened Store [Member]
Operating Units and Units with Franchise Agreements	1	2

Note 5 - Earnings Per Share - C

Note 5 - Earnings Per Share - Computation of Earnings Per Share (Details) - USD ($)	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Net income available to common shareholders	$ 333,245	$ 43,194
Weighted average shares outstanding - Basic and diluted (in shares)	7,263,508	7,263,508
Net Income per share - Basic and Diluted (in dollars per share)	$ 0.05	$ 0.01

Note 6 - Goodwill and Other I_2

Note 6 - Goodwill and Other Intangible Assets (Details Textual)	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Percentage of Royalty Revenues to Previous Fiscal Year		83.70%
Royalty Revenue, Increase (Decrease), Percentage	(10.50%)

Note 7 - Lease Commitments (Det

Note 7 - Lease Commitments (Details Textual) - USD ($)	Oct. 01, 2018	Feb. 28, 2021
Lessee, Operating Lease, Renewal Term (Year)	5 years
Lessee, Operating Lease, Rent Abatement and Tenant Allowance Period (Month)	180 days
Operating Lease, Expense	$ 21,300
Lessee, Operating Lease, Remaining Lease Term (Month)		3 years 30 days
Lessee, Operating Lease, Discount Rate		5.25%

Note 7 - Lease Commitments - Gr

Note 7 - Lease Commitments - Gross Future Minimum Annual Rental Commitments (Details) - USD ($)	Feb. 28, 2021	Nov. 30, 2020
2021	$ 84,878
2022	115,673
2023	118,322
2024	40,177
Total Undiscounted Rent Payments	359,050
Present Value Discount	(24,066)
Present Value	334,984
Short-term lease liability	100,937	$ 99,149
Operating lease liability	234,047	$ 260,094
Total Operating Lease Liability	$ 334,984

Note 8 - Payroll Protection P_2

Note 8 - Payroll Protection Program Loan (Details Textual) - USD ($)	May 01, 2020	Feb. 28, 2021	Feb. 29, 2020
Gain (Loss) on Extinguishment of Debt, Total		$ 228,155
Paycheck Protection Program CARES Act [Member]
Proceeds from Issuance of Long-term Debt, Total	$ 228,155
Gain (Loss) on Extinguishment of Debt, Total		$ 228,155

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Feb. 28, 2021	Feb. 29, 2020
Gain (Loss) on Extinguishment of Debt, Total	$ 228,155
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	7.11%
Paycheck Protection Program CARES Act [Member]
Gain (Loss) on Extinguishment of Debt, Total	$ 228,155

Note 10 - Stockholder's Equity

Note 10 - Stockholder's Equity (Details Textual) - $ / shares	Mar. 17, 2021	Jan. 27, 2021	Mar. 04, 2020	Dec. 05, 2019	Feb. 22, 2019	May 22, 2017	Aug. 18, 2015	May 06, 2013	Feb. 28, 2021	Feb. 29, 2020
Common Stock, Dividends, Per Share, Declared (in dollars per share)									$ 0.01	$ 0.03
Preferred Stock Dividends Number of Rights Declared (in shares)								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%
Right to Purchase Series A Preferred Stock [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)								0.001
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)								$ 0.90
Class of Warrant or Right, Term (Year)					9 years	7 years	5 years
Quarterly Dividend [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 0.01	$ 0.01
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)				$ 0.01
Quarterly Dividend [Member] | Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.01
Special Cash Distribution [Member]
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)				$ 0.02

Note 11 - Uncertainties and C_2

Note 11 - Uncertainties and Covid-19 (Details Textual)	3 Months Ended
	Feb. 28, 2021
Royalty Revenue, Increase (Decrease), Percentage	(10.50%)