Significant Accounting Policies (Policies) | 12 Months Ended |
Nov. 30, 2021 |
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] | Uses 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. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include cash on hand and demand deposits with banks with original maturities of less than 90 |
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. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangible Assets Accounting Standard Codification (“ASC”) 350 no Following the guidelines contained in ASC 350, not first February 28, 2021 2020, not Although the Covid- 19 2020 2019 twelve 2021, twelve 2019 first 2021 not November 30, 2021. 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, 2019 $ 1,493,771 $ 461,445 $ 12,625 $ 1,967,841 Additions - - 13,278 13,278 Amortization expense - - (2,196 ) (2,196 ) Net Balance as of November 30, 2020 $ 1,493,771 $ 461,445 $ 23,707 $ 1,978,923 Additions - - 2,525 2,525 Amortization expense - - (3,568 ) (3,568 ) Net Balance as of November 30, 2021 $ 1,493,771 $ 461,445 $ 22,664 $ 1,977,880 |
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. Advertising and promotion expense was $23,000 and $25,000 in 2021 2020, |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with FASB Topic 40. may 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, 2021 not not November 30, 2021 The Company’s income tax returns, which are filed as a consolidated return. for the years ending November 30, 2018, 2019 2020 three |
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, 326 2016 13 December 15, 2023. 2019 13 November 30, 2024 not In December 2019, 2019 12, 740 2019 12 740 2019 12 December 15, 2020, 2019 12 November 30, 2022 not Management does not not November 30, 2021 |
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 a single reportable segment. |
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 November 30, 2021 November 30, 2020 November 30, 2021 November 30, 2020 Cash and cash equivalents $ 1,462,026 $ 1,236,081 Restricted cash 596,132 396,842 Total cash and restricted cash $ 2,058,158 $ 1,632,923 |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share The Company computes earnings per share (“EPS”) under ASC 260 no 2021 2020 Numerator: Net income available to common stockholders $ 651,122 $ (66,171 ) Denominator: Weighted average outstanding shares Basic and diluted 7,263,508 7,263,508 Earnings per Share - Basic and diluted $ 0.09 $ (0.01 ) At November 30, 2021 2020, not |
Revenue [Policy Text Block] | 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 There are two one 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 |