BAB (BABB) 10-Q 14 Oct 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Aug. 31, 2021	Oct. 14, 2021
Document Information [Line Items]
Entity Central Index Key	0001123596
Entity Registrant Name	BAB, INC.
Amendment Flag	false
Current Fiscal Year End Date	--11-30
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2021
Document Transition Report	false
Entity File Number	0-31555
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4389547
Entity Address, Address Line One	500 Lake Cook Road, Suite 475
Entity Address, City or Town	Deerfield
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60015
City Area Code	847
Local Phone Number	948-7520
Title of 12(b) Security	Common Stock
Trading Symbol	BABB
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,263,508

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Aug. 31, 2021	Nov. 30, 2020
Current Assets
Cash	$ 1,457,922	$ 1,236,081
Restricted cash	549,585	396,842
Receivables
Trade accounts and notes receivable (net of allowance for doubtful accounts of $15,501 in 2021 and $18,152 in 2020 )	78,382	62,969
Marketing fund contributions receivable from franchisees and stores	28,066	17,544
Prepaid expenses and other current assets	108,663	96,723
Total Current Assets	2,222,618	1,810,159
Property, plant and equipment (net of accumulated depreciation of $158,279 in 2021 and $157,118 in 2020)	1,135	2,296
Trademarks	461,445	461,445
Goodwill	1,493,771	1,493,771
Definite lived intangible assets (net of accumulated amortization of $130,019 in 2021 and $127,474 in 2020)	23,687	23,707
Operating lease right of use	239,428	303,084
Total Noncurrent Assets	2,219,466	2,284,303
Total Assets	4,442,084	4,094,462
Current Liabilities
Accounts payable	3,744	10,279
Accrued expenses and other current liabilities	322,990	288,888
Current portion operating lease liability	104,559	99,149
Payroll Protection Program loan	0	228,155
Total Current Liabilities	1,049,510	1,078,616
Long-term Liabilities (net of current portion)
Operating lease liability	181,075	260,094
Contract with customer, liability, noncurrent	117,164	97,798
Deferred tax liability	186,440	84,940
Total Long-term Liabilities	484,679	442,832
Total Liabilities	1,534,189	1,521,448
Stockholders' Equity
Preferred shares	0	0
Common stock -$.001 par value; 15,000,000 shares authorized; 8,466,953 shares issued and 7,263,508 shares outstanding as of August 31, 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	(11,364,615)	(11,699,496)
Total Stockholders' Equity	2,907,895	2,573,014
Total Liabilities and Stockholders' Equity	4,442,084	4,094,462
Series A Preferred Stock [Member]
Stockholders' Equity
Preferred shares	0	0
Marketing Fund [Member]
Current Liabilities
Contract with customer, liability, current	574,833	387,117
Franchise [Member]
Current Liabilities
Contract with customer, liability, current	31,979	33,957
Long-term Liabilities (net of current portion)
Contract with customer, liability, noncurrent	115,974	93,929
License [Member]
Current Liabilities
Contract with customer, liability, current	11,405	31,071
Long-term Liabilities (net of current portion)
Contract with customer, liability, noncurrent	$ 1,190	$ 3,869

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Aug. 31, 2021	Nov. 30, 2020
Trade accounts and notes receivable, allowance for doubtful accounts	$ 15,501	$ 18,152
Property, plant and equipment, accumulated depreciation	158,279	157,118
Definite lived intangible assets, accumulated amortization	$ 130,019	$ 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		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
REVENUES
Revenues	$ 788,753	$ 624,420	$ 2,260,477	$ 1,671,924
OPERATING EXPENSES
Payroll and payroll-related expenses	206,897	217,136	647,392	666,653
Occupancy	31,650	35,992	101,000	104,344
Advertising and promotion	6,999	2,610	10,186	24,254
Professional service fees	12,301	22,935	92,691	102,464
Travel	1,040	239	2,432	9,748
Employee benefit expenses	25,998	35,973	95,892	110,170
Depreciation and amortization	1,373	928	3,706	2,442
Marketing fund expenses	263,613	172,723	715,575	447,275
Other	40,698	32,364	134,284	114,621
Total Operating Expenses	590,569	520,900	1,803,158	1,581,971
Income from operations	198,184	103,520	457,319	89,953
Interest income	98	91	332	293
Loan forgiveness	0	0	228,155	0
Income before provision for income taxes	198,282	103,611	685,806	90,246
Provision for income taxes
Current tax expense	13,020	0	31,520	15,000
Deferred tax expense	52,500	0	101,500	0
Net Income	$ 132,762	$ 103,611	$ 552,786	$ 75,246
Net Income per share - Basic and Diluted (in dollars per share)	$ 0.02	$ 0.01	$ 0.08	$ 0.01
Weighted average shares outstanding - Basic and diluted (in shares)	7,263,508	7,263,508	7,263,508	7,263,508
Cash distributions declared per share (in dollars per share)	$ 0.01	$ 0	$ 0.03	$ 0.04
Royalty [Member]
REVENUES
Revenues	$ 454,814	$ 375,282	$ 1,222,200	$ 1,001,112
Franchise [Member]
REVENUES
Revenues	4,274	4,874	30,285	12,398
Licensing Fees and Other Income [Member]
REVENUES
Revenues	66,052	71,541	292,417	211,139
Marketing Fund [Member]
REVENUES
Revenues	$ 263,613	$ 172,723	$ 715,575	$ 447,275

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Operating activities
Net Income	$ 552,786	$ 75,246
Adjustments to reconcile net income to cash flows provided by/(used in) operating activities:
Depreciation and amortization	3,706	2,442
Deferred tax expense	101,500	0
Provision for uncollectible accounts, net of recoveries	(1,851)	(7,540)
Noncash lease expense	74,483	74,484
Loan forgiveness	(228,155)	0
Changes in:
Trade accounts receivable and notes receivable	(13,562)	(8,136)
Marketing fund contributions receivable	(10,522)	(3,999)
Prepaid expenses and other	(11,940)	(11,229)
Accounts payable	(6,535)	5,905
Accrued liabilities	34,102	(84,717)
Unexpended marketing fund contributions	187,716	(99,812)
Deferred revenue	(2,278)	8,650
Operating lease liability	(84,436)	0
Net Cash Provided by/(Used in) Operating Activities	595,014	(48,706)
Investing activities
Capitalization of trademark renewals	(2,525)	(10,497)
Net Cash Used In Investing Activities	(2,525)	(10,497)
Financing activities
Loan proceeds	0	228,155
Cash distributions/dividends	(217,905)	(290,540)
Net Cash Used In Financing Activities	(217,905)	(62,385)
Net Increase/(Decrease) in Cash and Restricted Cash	374,584	(121,588)
Cash and Restricted Cash - Beginning of Period	1,632,923	1,495,669
Cash and Restricted Cash - End of Period	2,007,507	1,374,081
Supplemental disclosure of cash flow information:
Interest paid	0	0
Income taxes paid	$ 1,700	$ 36,012

Note 1 - Nature of Operations

Note 1 - Nature of Operations	9 Months Ended
	Aug. 31, 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. August 31, 2021, 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	9 Months Ended
	Aug. 31, 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 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. 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 August 31, 2021 Statement of Cash Flows The chart below shows the cash and restricted cash within the consolidated statements of cash flows as of August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Cash and cash equivalents $ 1,457,922 $ 1,076,612 Restricted cash 549,585 297,469 Total cash and restricted cash $ 2,007,507 $ 1,374,081

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	9 Months Ended
	Aug. 31, 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 years. Subject to the Company’s approval, a franchisee 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% 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 month-end. Estimates are utilized in certain instances where actual numbers have 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 nine August 31, 2021 August 31, 2020: For three months ended August 31, 2021 For three months ended August 31, 2020 For nine months ended August 31, 2021 For nine months ended August 31 2020 Revenue recognized at a point in time Sign Shop revenue $ 1,182 $ 970 $ 7,801 $ 2,116 Settlement revenue 4,200 6,078 99,508 8,214 Total revenue at a point in time 5,382 7,048 107,309 10,330 Revenue recognized over time Royalty revenue 454,814 375,282 1,222,200 1,001,112 Franchise fees 4,274 4,874 30,285 12,398 License fees 1,375 5,719 9,500 23,010 Gift card revenue 590 84 3,546 3,913 Nontraditional revenue 58,705 58,690 172,062 173,886 Marketing fund revenue 263,613 172,723 715,575 447,275 Total revenue over time 783,371 617,372 2,153,168 1,661,594 Grand total $ 788,753 $ 624,420 $ 2,260,477 $ 1,671,924 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. August 31, 2021 November 30, 2020 Liabilities Contract liabilities - current $ 805,057 $ 599,965 Contract liabilities - long-term 117,164 97,798 Total Contract Liabilities $ 922,221 $ 697,763 For the Nine Months Ended August 31, 2021 Fiscal Year to Date November 30, 2020 Contract Liabilities at beginning of period $ 697,763 $ 702,834 Revenue Recognized during period (577,775 ) (780,940 ) Additions during period 802,233 775,869 Contracts at end of period $ 922,221 $ 697,763 Transaction price allocated to remaining performance obligations (franchise agreements and license fee agreement) for the year ended November 30: (a) 2021 $ 15,715 2022 $ 33,856 2023 $ 18,958 2024 $ 17,125 2025 $ 15,346 Thereafter $ 59,548 Total $ 160,548 (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	9 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Units Open and Under Development [Text Block]	4. Units which are open or under development at August 31, 2021 August 31, 2021 August 31, 2020 Stores open: Franchisee-owned stores 71 72 Licensed Units 3 7 74 79 Unopened stores with Franchise Agreements 2 3 Total operating units and units with Franchise Agreements 76 82

Note 5 - Earnings Per Share

Note 5 - Earnings Per Share	9 Months Ended
	Aug. 31, 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: For the three months ended: For the nine months ended: August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Numerator: Netincome available to common shareholders $ 132,762 $ 103,611 $ 552,786 $ 75,246 Denominator: Weighted average outstanding shares Basic and diluted common stock 7,263,508 7,263,508 7,263,508 7,263,508 Earnings per Share - Basic $ 0.02 $ 0.01 $ 0.08 $ 0.01

Note 6 - Goodwill and Other Int

Note 6 - Goodwill and Other Intangible Assets	9 Months Ended
	Aug. 31, 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 2019 August 31, 2020. 2021 2019 August 31.

Note 7 - Lease Commitments

Note 7 - Lease Commitments	9 Months Ended
	Aug. 31, 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 six not Monthly rent expense is recognized on a straight-line basis over the term of the lease. At August 31, 2021 Gross future minimum annual rental commitments as of August 31, 2021 Undiscounted Rent Payments Year Ending November 30: 2021 $ 28,587 2022 115,673 2023 118,322 2024 40,177 Total Undiscounted Rent Payments 302,759 Present Value Discount (17,125 ) Present Value $ 285,634 Short-term lease liability $ 104,559 Long-term lease liability 181,075 Total Operating Lease Liability $ 285,634

Note 8 - Payroll Protection Pro

Note 8 - Payroll Protection Program Loan	9 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	8. On May 1, 2020, 1 March 27, 2020. On December 9, 2020 first February 28, 2021.

Note 9 - Income Taxes

Note 9 - Income Taxes	9 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. On December 9, 2020 In fiscal 2021, 7.11% 2020 2021. nine 2021 2020.

Note 10 - Stockholder's Equity

Note 10 - Stockholder's Equity	9 Months Ended
	Aug. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	10. s Equity On September 10, 2021 September 27, 2021, October 18, 2021. June 3, 2021 June 21, 2021, July 12, 2021. March 17, 2021 April 1, 2021, April 22, 2021. January 27, 2021 February 10, 2021 February 24, 2021. On December 5, 2019, January 9, 2020. March 4, 2020, $0.01 March 23, 2020 April 08, 2020. On May 6, 2013, one May 13, 2013. one one 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% (or 20% in the case of certain institutional investors who report their holdings on Schedule 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	9 Months Ended
	Aug. 31, 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 nine August 31, 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 18 2021 first nine 2021 2020.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Aug. 31, 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 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.
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 August 31, 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 August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Cash and cash equivalents $ 1,457,922 $ 1,076,612 Restricted cash 549,585 297,469 Total cash and restricted cash $ 2,007,507 $ 1,374,081

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Aug. 31, 2021
Notes Tables
Cash, Cash Equivalents, and Restricted Cash, Cash Flow Statement Reconciliation [Table Text Block]	August 31, 2021 August 31, 2020 Cash and cash equivalents $ 1,457,922 $ 1,076,612 Restricted cash 549,585 297,469 Total cash and restricted cash $ 2,007,507 $ 1,374,081

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	9 Months Ended
	Aug. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	For three months ended August 31, 2021 For three months ended August 31, 2020 For nine months ended August 31, 2021 For nine months ended August 31 2020 Revenue recognized at a point in time Sign Shop revenue $ 1,182 $ 970 $ 7,801 $ 2,116 Settlement revenue 4,200 6,078 99,508 8,214 Total revenue at a point in time 5,382 7,048 107,309 10,330 Revenue recognized over time Royalty revenue 454,814 375,282 1,222,200 1,001,112 Franchise fees 4,274 4,874 30,285 12,398 License fees 1,375 5,719 9,500 23,010 Gift card revenue 590 84 3,546 3,913 Nontraditional revenue 58,705 58,690 172,062 173,886 Marketing fund revenue 263,613 172,723 715,575 447,275 Total revenue over time 783,371 617,372 2,153,168 1,661,594 Grand total $ 788,753 $ 624,420 $ 2,260,477 $ 1,671,924
Contract With Customer Asset and Liability, Subject to Change [Table Text Block]	August 31, 2021 November 30, 2020 Liabilities Contract liabilities - current $ 805,057 $ 599,965 Contract liabilities - long-term 117,164 97,798 Total Contract Liabilities $ 922,221 $ 697,763
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	For the Nine Months Ended August 31, 2021 Fiscal Year to Date November 30, 2020 Contract Liabilities at beginning of period $ 697,763 $ 702,834 Revenue Recognized during period (577,775 ) (780,940 ) Additions during period 802,233 775,869 Contracts at end of period $ 922,221 $ 697,763
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	(a) 2021 $ 15,715 2022 $ 33,856 2023 $ 18,958 2024 $ 17,125 2025 $ 15,346 Thereafter $ 59,548 Total $ 160,548

Note 4 - Units Open and Under_2

Note 4 - Units Open and Under Development (Tables)	9 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Franchisor Disclosure [Table Text Block]	August 31, 2021 August 31, 2020 Stores open: Franchisee-owned stores 71 72 Licensed Units 3 7 74 79 Unopened stores with Franchise Agreements 2 3 Total operating units and units with Franchise Agreements 76 82

Note 5 - Earnings Per Share (Ta

Note 5 - Earnings Per Share (Tables)	9 Months Ended
	Aug. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the three months ended: For the nine months ended: August 31, 2021 August 31, 2020 August 31, 2021 August 31, 2020 Numerator: Netincome available to common shareholders $ 132,762 $ 103,611 $ 552,786 $ 75,246 Denominator: Weighted average outstanding shares Basic and diluted common stock 7,263,508 7,263,508 7,263,508 7,263,508 Earnings per Share - Basic $ 0.02 $ 0.01 $ 0.08 $ 0.01

Note 7 - Lease Commitments (Tab

Note 7 - Lease Commitments (Tables)	9 Months Ended
	Aug. 31, 2021
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Undiscounted Rent Payments Year Ending November 30: 2021 $ 28,587 2022 115,673 2023 118,322 2024 40,177 Total Undiscounted Rent Payments 302,759 Present Value Discount (17,125 ) Present Value $ 285,634 Short-term lease liability $ 104,559 Long-term lease liability 181,075 Total Operating Lease Liability $ 285,634

Note 1 - Nature of Operations (

Note 1 - Nature of Operations (Details Textual)	Aug. 31, 2021	Aug. 31, 2020
Number of Wholly Owned Subsidiaries	3
Number of Stores	76	82
Number of States in which Entity Operates	20
Franchised Units [Member]
Number of Stores	71	72
Licensed Units [Member]
Number of Stores	3	7
Units Under Development [Member]
Number of Stores	2

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual)	9 Months Ended
	Aug. 31, 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 ($)	Aug. 31, 2021	Nov. 30, 2020	Aug. 31, 2020	Nov. 30, 2019
Cash and cash equivalents	$ 1,457,922	$ 1,236,081	$ 1,076,612
Restricted cash	549,585		297,469
Total cash and restricted cash	$ 2,007,507	$ 1,632,923	$ 1,374,081	$ 1,495,669

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual)	9 Months Ended
	Aug. 31, 2021
Initial Franchise Term (Year)	10 years
Royalty Fees From Franchises Percentage	5.00%

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Revenues	$ 788,753	$ 624,420	$ 2,260,477	$ 1,671,924
Transferred at Point in Time [Member]
Revenues	5,382	7,048	107,309	10,330
Transferred over Time [Member]
Revenues	783,371	617,372	2,153,168	1,661,594
Sign Shop [Member] | Transferred at Point in Time [Member]
Revenues	1,182	970	7,801	2,116
Structured Settlement Annuity [Member] | Transferred at Point in Time [Member]
Revenues	4,200	6,078	99,508	8,214
Royalty [Member]
Revenues	454,814	375,282	1,222,200	1,001,112
Royalty [Member] | Transferred over Time [Member]
Revenues	454,814	375,282	1,222,200	1,001,112
Franchise [Member]
Revenues	4,274	4,874	30,285	12,398
Franchise [Member] | Transferred over Time [Member]
Revenues	4,274	4,874	30,285	12,398
License [Member] | Transferred over Time [Member]
Revenues	1,375	5,719	9,500	23,010
Gift Card [Member] | Transferred over Time [Member]
Revenues	590	84	3,546	3,913
Non-traditional Revenue [Member] | Transferred over Time [Member]
Revenues	58,705	58,690	172,062	173,886
Marketing Fund [Member]
Revenues	263,613	172,723	715,575	447,275
Marketing Fund [Member] | Transferred over Time [Member]
Revenues	$ 263,613	$ 172,723	$ 715,575	$ 447,275

Note 3 - Revenue Recognition _2

Note 3 - Revenue Recognition - Contract Balances Subject to ASC 606 (Details) - USD ($)	Aug. 31, 2021	Nov. 30, 2020
Contract liabilities - long-term	$ 117,164	$ 97,798
Total Contract Liabilities	922,221	697,763
Contract Liabilities, Current and Accrued Expenses and Other Current Liabilities [Member]
Contract liabilities - current	$ 805,057	$ 599,965

Note 3 - Revenue Recognition _3

Note 3 - Revenue Recognition - Changes in Contract Balances (Details) - USD ($)	9 Months Ended	12 Months Ended
	Aug. 31, 2021	Nov. 30, 2020
Contract Liabilities at beginning of period	$ 697,763	$ 702,834
Revenue Recognized during period	(577,775)	(780,940)
Additions during period	802,233	775,869
Contracts at end of period	$ 922,221	$ 697,763

Note 3 - Revenue Recognition _4

Note 3 - Revenue Recognition - Remaining Performance Obligations (Details)	Aug. 31, 2021USD ($)
Revenue, remaining performance obligation, amount	$ 160,548

Note 3 - Revenue Recognition _5

Note 3 - Revenue Recognition - Remaining Performance Obligations 2 (Details)	Aug. 31, 2021USD ($)
Revenue, remaining performance obligation, amount	$ 160,548
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-09-01
Revenue, remaining performance obligation, amount	15,715	[1]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, remaining performance obligation, amount	33,856
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, remaining performance obligation, amount	18,958
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, remaining performance obligation, amount	17,125
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, remaining performance obligation, amount	15,346
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, remaining performance obligation, amount	$ 59,548
[1]	represents the estimate for the remainder of 2021

Note 3 - Revenue Recognition _6

Note 3 - Revenue Recognition - Remaining Performance Obligations (Details) (Parentheticals)	Aug. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-09-01
Revenue, remaining performance obligation, period (Year)	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, remaining performance obligation, period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
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)	Aug. 31, 2021	Aug. 31, 2020
Operating Units and Units with Franchise Agreements	76	82
Franchised Units [Member]
Operating Units and Units with Franchise Agreements	71	72
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	79
Unopened Store [Member]
Operating Units and Units with Franchise Agreements	2	3

Note 5 - Earnings Per Share - C

Note 5 - Earnings Per Share - Computation of Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Netincome available to common shareholders	$ 132,762	$ 103,611	$ 552,786	$ 75,246
Weighted average shares outstanding - Basic and diluted (in shares)	7,263,508	7,263,508	7,263,508	7,263,508
Net Income per share - Basic and Diluted (in dollars per share)	$ 0.02	$ 0.01	$ 0.08	$ 0.01

Note 6 - Goodwill and Other I_2

Note 6 - Goodwill and Other Intangible Assets (Details Textual)	9 Months Ended
	Aug. 31, 2021	Aug. 31, 2020
Percentage of Royalty Revenues to Previous Fiscal Year		83.70%
Royalty Revenue, Increase (Decrease) from Two Years Ago, Percentage	(1.00%)

Note 7 - Lease Commitments (Det

Note 7 - Lease Commitments (Details Textual) - USD ($)	Oct. 01, 2018	Aug. 31, 2021
Lessee, Operating Lease, Renewal Term (Year)	5 years
Lessee, Operating Lease, Rent Abatement and Tenant Allowance Period (Month)	6 months
Operating Lease, Expense	$ 21,300
Lessee, Operating Lease, Remaining Lease Term (Month)		31 months
Lessee, Operating Lease, Discount Rate		5.25%

Note 7 - Lease Commitments - Gr

Note 7 - Lease Commitments - Gross Future Minimum Annual Rental Commitments (Details) - USD ($)	Aug. 31, 2021	Nov. 30, 2020
2021	$ 28,587
2022	115,673
2023	118,322
2024	40,177
Total Undiscounted Rent Payments	302,759
Present Value Discount	(17,125)
Present Value	285,634
Short-term lease liability	104,559	$ 99,149
Long-term lease liability	181,075	$ 260,094
Total Operating Lease Liability	$ 285,634

Note 8 - Payroll Protection P_2

Note 8 - Payroll Protection Program Loan (Details Textual) - USD ($)	Dec. 09, 2020	May 01, 2020	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Gain (Loss) on Extinguishment of Debt, Total			$ 0	$ 0	$ 228,155	$ 0
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				$ 228,000

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($)	Dec. 09, 2020	Aug. 31, 2021	Aug. 31, 2020	Aug. 31, 2021	Aug. 31, 2020
Gain (Loss) on Extinguishment of Debt, Total		$ 0	$ 0	$ 228,155	$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%	21.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent				7.11%	7.11%
Effective Income Tax Rate Reconciliation, Percent, Total				19.40%	16.60%
Paycheck Protection Program CARES Act [Member]
Gain (Loss) on Extinguishment of Debt, Total	$ 228,155			$ 228,000

Note 10 - Stockholder's Equity

Note 10 - Stockholder's Equity (Details Textual) - $ / shares

Sep. 10, 2021

Jun. 03, 2021

Mar. 17, 2021

Jan. 27, 2021

Mar. 04, 2020

Jan. 08, 2020

Dec. 05, 2019

Feb. 22, 2019

May 22, 2017

Aug. 18, 2015

May 06, 2013

Aug. 31, 2021

Aug. 31, 2020

Aug. 31, 2021

Aug. 31, 2020

Common Stock, Dividends, Per Share, Declared (in dollars per share)

$ 0.01

$ 0

$ 0.03

$ 0.04

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

$ 0.01

Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)

$ 0.01

$ 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)	9 Months Ended
	Aug. 31, 2021
Royalty Revenue Increase (Decrease) from Previous Year Percentage	22.10%