Byrna (BYRN) 10-Q 1 Jul 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	May 31, 2021	Jun. 29, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2021
Entity File Number	333-132456
Entity Incorporation, State or Country Code	DE
Entity Registrant Name	Byrna Technologies Inc.
Entity Central Index Key	0001354866
Current Fiscal Year End Date	--11-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		20,693,521
Entity Current Reporting Status	No
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	May 31, 2021	Nov. 30, 2020
CURRENT ASSETS
Cash	$ 4,391	$ 3,175
Restricted cash	862	6,389
Accounts receivable, net	1,235	834
Inventory, net	6,607	4,817
Net investment in sales-type lease, current	51
Prepaid expenses and other current assets	1,282	1,391
Total current assets	14,428	16,606
Patent rights, net	3,626	811
Deposits for equipment	678	619
Right-of-use asset, net	1,224	1,200
Net investment in sales-type lease, non-current	56
Property and equipment, net	1,187	1,220
Goodwill	651	651
Restricted cash	92	92
Other assets	91	17
TOTAL ASSETS	22,033	21,216
CURRENT LIABILITIES
Accounts payable and accrued liabilities	4,571	6,629
Operating lease liabilities, current	232	257
Deferred revenue	1,675	4,902
Line of credit	1,500
Notes payable, current		76
Total current liabilities	7,978	11,864
Notes payable, non-current		115
Operating lease liabilities, non-current	905	828
Total liabilities	8,883	12,807
COMMITMENTS AND CONTINGENCIES (NOTE 23)
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued; Series A Preferred Stock, 1,500 shares designated, 0 and 1,391 shares issued and outstanding, respectively
Common stock, $0.001 par value, 300,000,000 shares authorized, 20,693,521 and 14,852,023 shares issued and outstanding, respectively	20	15
Additional paid-in capital	61,374	58,581
Accumulated deficit	(48,450)	(50,215)
Accumulated other comprehensive income	206	28
Total Stockholders' Equity	13,150	8,409
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 22,033	$ 21,216

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	May 31, 2021	Nov. 30, 2020
Preferred Stock, Par Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares, Issued	20,693,521	14,852,023
Common Stock, Shares, Outstanding	20,693,521	14,852,023
Series A Preferred Stock [Member]
Preferred Stock, Shares Authorized	1,500	1,500
Preferred Stock, Shares Issued	0	1,391
Preferred Stock, Shares Outstanding	0	1,391

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Income Statement [Abstract]
Net revenue	$ 13,401	$ 1,190	$ 22,294	$ 1,339
Cost of goods sold	(5,839)	(674)	(9,991)	(857)
Gross profit	7,562	516	12,303	482
Operating expenses	5,539	1,369	10,691	2,959
INCOME (LOSS) FROM OPERATIONS	2,023	(853)	1,612	(2,477)
OTHER INCOME (EXPENSE)
Foreign currency transaction gain (loss)	214	(5)	192	(9)
Accretion of debt discounts		(257)		(755)
Interest expense	(9)	(74)	(37)	(233)
Loss on extinguishment of debt		(6,027)		(6,027)
Warrant inducement expense		(845)		(845)
Forgiveness of Paycheck Protection Program loan			190
Other financing costs	(8)		(9)
INCOME (LOSS) BEFORE INCOME TAXES	2,220	(8,061)	1,948	(10,346)
Income tax provision	183	0	183	0
NET INCOME (LOSS)	2,037	(8,061)	1,765	(10,346)
Foreign exchange translation gain for the period	120	132	178	96
COMPREHENSIVE INCOME (LOSS)	2,157	(7,929)	1,943	(10,250)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ 994	$ (8,061)	$ 722	$ (10,346)
NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share (in dollars per share)	$ 0.06	$ (0.66)	$ 0.04	$ (0.91)
Diluted net income (loss) per share (in dollars per share)	$ 0.05	$ (0.66)	$ 0.04	$ (0.91)
Weighted-average number of common shares outstanding - basic (in shares)	17,800,749	12,068,759	16,359,496	11,271,719
Weighted-average number of common shares outstanding - diluted (in shares)	18,989,231	12,068,759	17,604,131	11,271,719

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	May 31, 2021	May 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) for the period	$ 1,765	$ (10,346)
Adjustments to reconcile net (income) loss to net cash used in operating activities:
Stock-based compensation expense	1,546	648
Forgiveness of Paycheck Protection Program loan	(190)
Accretion of debt discounts		755
Loss on extinguishment of debt		6,027
Warrant inducement		845
Write-down of inventory	177	3
Issuance of common shares for services		119
Shares to be issued for services		43
Depreciation and amortization	217	77
Amortization of debt issuance costs	9
Operating lease costs	83	29
Selling loss on sales-type lease	33
Changes in assets and liabilities, net of acquisition:
Accounts receivable	138	82
Deferred revenue	(3,227)	137
Inventory	(1,407)	(239)
Prepaid expenses and other current assets	422	(48)
Net investment in sales-type lease	(6)
Other assets	(1)
Accounts payable and accrued liabilities	(2,358)	147
Operating lease liabilities	(65)	(130)
Accrued interest		234
NET CASH USED IN OPERATING ACTIVITIES	(2,864)	(1,617)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of patent rights	(37)	(80)
Cash paid for Roboro acquisition, net of cash acquired		(489)
Cash paid for asset acquisition, net of cash acquired	(3,702)
Purchases of property and equipment	(116)	(147)
NET CASH USED IN INVESTING ACTIVITIES	(3,855)	(716)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from warrant exercises	1,217	3,218
Proceeds from stock option exercises	35
Payment of debt issuance costs	(83)
Proceeds from Roboro sellers for common stock		500
Proceeds from Paycheck Protection Program loan		190
Proceeds from line of credit	1,500
NET CASH PROVIDED BY FINANCING ACTIVITIES	2,669	3,908
Effects of foreign currency exchange rate changes	(261)	58
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH FOR THE PERIOD	(4,311)	1,633
CASH AND RESTRICTED CASH, BEGINNING OF PERIOD	9,656	1,174
CASH AND RESTRICTED CASH, END OF PERIOD	5,345	$ 2,807
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	$ 14

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Apr. 08, 2020	Jan. 06, 2020	Feb. 29, 2020
Convertible Notes Payable [Member]
Value of debt conversion	$ 6,950
Warrant [Member]
Warrants Issued			15,000
Value of warants issued for marketing services			$ 10
Warrant [Member] | Convertible Notes Payable [Member]
Value of converted instruments	$ 200
Common Stock [Member] | Patents [Member]
Number of common stock issued in exchange for Patent Rights		386,681
Value of common stock issued in exchange for Patent Rights		$ 700
Series A Preferred Stock [Member] | Convertible Notes Payable [Member]
Number of shares issued in debt conversion	1,391
Value of converted instruments	$ 11,590
Debt issuance cost	$ 30

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Series A Preferred Stock [Member]	Common Stock [Member]	Shares to be Issued [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning Balance at Nov. 30, 2019		$ 10	$ 20	$ (888)	$ 36,575	$ (37,662)	$ (38)	$ (1,983)
Beginning Balance (Shares) at Nov. 30, 2019		10,402,184
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock for services					118			118
Issuance of common stock for services (in shares)		62,500
Issuance of common stock for intellectual property					697			697
Issuance of common stock for intellectual property (in shares)		386,680
Cancellation of shares				$ 888	(888)
Cancellation of shares (in shares)		(369,999)
Shares to be issued			43					43
Issuance of Series A preferred stock upon conversion of the convertible notes, net of issuance costs					11,562			11,562
Issuance of Series A preferred stock upon conversion of the convertible notes, net of issuance costs (in shares)	1,391
Issuance of warrants for payment of accrued interest					125			125
Stock-based compensation					648			648
Issuance of common stock - Roboro acquisition					556			556
Issuance of common stock - Roboro acquisition (in shares)		138,889
Warrant exercises		$ 2			4,020			4,022
Warrant exercises (in shares)		2,009,703
Issuance of warrants upon conversion of the convertible notes					240			240
Net income (loss)						(10,346)		(10,346)
Foreign currency translation							96	96
Ending Balance at May. 31, 2020		$ 12	63		53,653	(48,008)	58	5,778
Ending Balance (Shares) at May. 31, 2020	1,391	12,629,957
Beginning Balance at Feb. 29, 2020		$ 10	20		37,264	(39,947)	(75)	(2,728)
Beginning Balance (Shares) at Feb. 29, 2020		10,481,365
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares to be issued			43					43
Issuance of Series A preferred stock upon conversion of the convertible notes, net of issuance costs					11,562			11,562
Issuance of Series A preferred stock upon conversion of the convertible notes, net of issuance costs (in shares)	1,391
Stock-based compensation					11			11
Issuance of common stock - Roboro acquisition					556			556
Issuance of common stock - Roboro acquisition (in shares)		138,889
Warrant exercises		$ 2			4,020			4,022
Warrant exercises (in shares)		2,009,703
Issuance of warrants upon conversion of the convertible notes					240			240
Net income (loss)						(8,061)		(8,061)
Foreign currency translation							133	132
Ending Balance at May. 31, 2020		$ 12	$ 63		53,653	(48,008)	58	5,778
Ending Balance (Shares) at May. 31, 2020	1,391	12,629,957
Beginning Balance at Nov. 30, 2020		$ 15			58,581	(50,215)	28	8,409
Beginning Balance (Shares) at Nov. 30, 2020	1,391	14,852,023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation					1,546			1,546
Issuance of common stock pursuant to exercise of stock options					35			$ 35
Issuance of common stock pursuant to exercise of stock options (in shares)		22,667						22,667
Warrant exercises					1,217			$ 1,217
Warrant exercises (in shares)		486,684
Dividends declared on preferred shares					(1,043)			(1,043)
Conversion of preferred shares and accrued dividends on preferred shares		$ 5			1,038			1,043
Conversion of preferred shares and accrued dividends on preferred shares (in shares)	(1,391)	5,332,147
Net income (loss)						1,765		1,765
Foreign currency translation						178		178
Ending Balance at May. 31, 2021		$ 20			61,374	(48,450)	206	13,150
Ending Balance (Shares) at May. 31, 2021		20,693,521
Beginning Balance at Feb. 28, 2021		$ 15			59,430	(50,487)	86	9,044
Beginning Balance (Shares) at Feb. 28, 2021	1,391	14,920,109
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation					853			853
Issuance of common stock pursuant to exercise of stock options					13			13
Issuance of common stock pursuant to exercise of stock options (in shares)		8,000
Warrant exercises					1,083			1,083
Warrant exercises (in shares)		433,265
Dividends declared on preferred shares					(1,043)			(1,043)
Conversion of preferred shares and accrued dividends on preferred shares		$ 5			1,038			1,043
Conversion of preferred shares and accrued dividends on preferred shares (in shares)	(1,391)	5,332,147
Net income (loss)						2,037		2,037
Foreign currency translation							120	120
Ending Balance at May. 31, 2021		$ 20			$ 61,374	$ (48,450)	$ 206	$ 13,150
Ending Balance (Shares) at May. 31, 2021		20,693,521

NATURE OF OPERATIONS

NATURE OF OPERATIONS	6 Months Ended
	May 31, 2021
Nature of Operations [Abstract]
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS The Company was incorporated under the laws of the state of Delaware on March 1, 2005. On February 3, 2014, the Company incorporated a wholly-owned subsidiary in Canada, Security Devices International Canada Corp. (“SDI Canada”). SDI Canada was dissolved on December 19, 2019. On March 1, 2018, the Company acquired all the shares of a company in South Africa, Byrna South Africa (Pty) Ltd. (“Byrna South Africa”). On May 5, 2020, the Company acquired all the outstanding shares of Roboro Industries (“Roboro”), at that time, its exclusive manufacturer in South Africa. See Note 6, “Acquisitions: Business Combination.” On May 12, 2021, the Company acquired certain assets of the Mission Less Lethal brand from Kore Outdoor (U.S.), Inc. See Note 6, “Acquisitions: Asset Acquisition.” Byrna Technologies Inc. (the “Company” or “Byrna”) is a non-lethal defense technology company, specializing in next generation solutions for security situations that do not require the use of lethal force. The Company’s primary product is its .68 caliber handheld personal security device called the Byrna® HD and Byrna® HD magazines and projectiles. The Company manufactured its Byrna HD launchers and magazines at Roboro until May 2020 when Roboro became a subsidiary and its operations were assumed by Byrna South Africa. On October 6, 2020, the Company opened a second manufacturing facility in Fort Wayne, Indiana. The Company has implemented manufacturing partnerships in the United States and South Africa, to assist in the deployment of its patented family of 40mm ammunition and its .68 caliber ammunition. The Company’s 40mm products are its Blunt Impact Projectile 40mm (“BIP®”) line of products.

OPERATIONS AND MANAGEMENT PLANS

OPERATIONS AND MANAGEMENT PLANS	6 Months Ended
	May 31, 2021
Operations and Management Plans [Abstract]
OPERATIONS AND MANAGEMENT PLANS	2. OPERATIONS AND MANAGEMENT PLANS From inception to May 31, 2021, the Company had incurred a cumulative loss of $48.5 million. The Company has funded operations through the issuance of common stock, warrants, and convertible notes payable. The Company generated $22.3 million in revenue and income from operations of $1.6 million for the six months ended May 31, 2021. The Company’s future success is dependent upon its ability to continue to generate adequate revenue or raise sufficient capital, to cover its ongoing operating expenses, and also to continue to develop and be able to profitably market its products. The rapid growth of revenues and development of the production capacity to support them have substantially improved the Company’s operations and financial condition. Sales increased by $21.0 million for the six months ended May 31, 2021, as compared to the previous period ended May 31, 2020, cash increased by $1.2 million and restricted cash has decreased by $5.5 million as of May 31, 2021 as compared to November 30, 2020. The decrease in restricted cash was due to successful efforts to reduce the sales order backlog. Since the order backlog has been eliminated, cash generation through sales will be limited to the rate of incoming sales orders. Though growth in the rate of new sales orders is expected to continue, cash flow from operations is expected to be flat for the next several months. During this period, some loan financing may be needed to sustain adequate levels of liquidity. On January 19, 2021, the Company entered into a $5.0 million revolving line of credit, secured by the Company’s accounts receivable and inventory, and a $1.5 million line of credit, secured by the Company’s equipment. See Note 16, “Lines of Credit” for additional information. Management projects that all cash needs will be met beyond one year from the time these financial statements are issued.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	May 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	3. BASIS OF PRESENTATION The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”); however, such information reflects all adjustments consisting solely of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods. Certain prior year amounts have been reclassified to conform with the presentation of amounts for the three and six months ended May 31, 2021. The unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto together with management’s discussion and analysis of financial condition and results of operations contained in Byrna Technologies Inc.’s (“Byrna” or the “Company”) annual report on Form 10-K for the year ended November 30, 2020. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements, the results of its operations for the three and six months ended May 31, 2021 and 2020, and its cash flows for the six months ended May 31, 2021 and 2020 are not necessarily indicative of results to be expected for the full year.

USE OF ESTIMATES

USE OF ESTIMATES	6 Months Ended
	May 31, 2021
Use Of Estimates
USE OF ESTIMATES	4. USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Future events and their effects cannot be determined with certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results could differ from those estimates, and any such differences may be material to our Condensed Consolidated Financial Statements. Significant estimates include assumptions about collection of accounts receivable and the reserve for doubtful accounts, stock-based compensation expense, fair value of equity instruments, valuation for deferred tax assets, incremental borrowing rate on leases, valuation and carrying value of goodwill and other identifiable intangible assets, estimates for warranty costs, and useful life of fixed assets.

RECENT ACCOUNTING GUIDANCE

RECENT ACCOUNTING GUIDANCE	6 Months Ended
	May 31, 2021
Recent Accounting Guidance [Abstract]
RECENT ACCOUNTING GUIDANCE	5. RECENT ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) In June 2018, the FASB issue ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Compensation – Stock Compensation In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic: 260), Distinguishing Liabilities from Equity (Topic: 480), Derivatives and Hedges (Topic 815) Accounting Guidance Issued But Not Adopted In 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	May 31, 2021
Business Combinations [Abstract]
ACQUISITIONS	6. ACQUISITIONS Asset Acquisition On May 12, 2021, the Company entered into an asset purchase agreement to purchase certain assets used in the business of designing, developing, manufacturing, licensing, and selling of products and services for the Mission Less Lethal brand from Kore Outdoor (U.S.) Inc., (“Kore”) a wholly owned subsidiary of Kore Outdoor, Inc. The transaction was accounted for as an asset acquisition, with estimated $3.7 million total cost of which $0.2 million were acquisition-related expenses. The estimated total cost of the acquisition has been allocated as follows (in thousands): Assets Accounts receivable $ 465 Prepaid expenses 165 Inventory 82 Property and equipment 180 Intangible assets 2,810 Total acquired assets $ 3,702 The Company accounted for the transaction as an asset acquisition where the assets acquired were measured based on the amount of cash paid to Kore as well as transaction costs incurred as the fair value of the assets given was more readily determinable than the fair value of the assets received. The Company classified and designated identifiable assets acquired and assessed and determined the useful lives of the acquired intangible assets subject to amortization. The Company is still in the process of finalizing the working capital adjustments and tax impacts, and therefore, the allocation of the asset acquisition consideration is subject to change. Business Combination On May 5, 2020, the Company acquired 100% of the equity interests in Roboro, its exclusive manufacturer in South Africa, in order to reduce its dependence on third parties for production. As a result of this acquisition, operations were assumed by Byrna South Africa. The acquisition date fair value of the consideration was $0.6 million, including $0.5 million paid in cash. In addition, Roboro’s sellers purchased 138,889 shares of the Company’s common stock for $0.5 million at a contractual price of $3.60 per share. These shares, which were issued on May 27, 2020, are restricted and subject to a 15-month vesting schedule. The fair market value of the common stock of $0.6 million was based on the stock’s closing price of $4.00 on May 5, 2020. The difference between the fair market value plus approximately $0.002 million of transaction costs and the amount paid, was treated as an additional consideration for the acquisition. The estimated fair value of assets acquired and liabilities assumed on May 5, 2020 is as follows: Property and equipment $ 67 Goodwill 651 Right-of-use asset, net 54 Loan payable (123 ) Operating lease liability, current (35 ) Operating lease liability, noncurrent (19 ) Other net asset (liabilities) (38 ) Net Assets $ 557

REVERSE STOCK SPLIT

REVERSE STOCK SPLIT	6 Months Ended
	May 31, 2021
Reverse Stock Split [Abstract]
REVERSE STOCK SPLIT	7. REVERSE STOCK SPLIT On April 27, 2021, the Company effected a 1-for-10 reverse stock split. All owners of record as of April 27, 2021 received one issued and outstanding share of the Company’s common stock in exchange for 10 outstanding shares of the Company’s common stock. No fractional shares were issued in connection with the reverse stock split. All fractional shares created by the one-for-ten exchange were rounded down to the next whole share, with cash paid in lieu of fractional shares. The reverse stock split had no impact on the par value per share of the Company’s common stock, which remains at $0.001. All share and per share information has been retroactively adjusted to reflect the impact of the Reverse Stock Split.

RESTRICTED CASH

RESTRICTED CASH	6 Months Ended
	May 31, 2021
Restricted Cash [Abstract]
RESTRICTED CASH	8. RESTRICTED CASH The Company’s restricted cash - current was $0.8 million and $6.4 million at May 31, 2021 and November 30, 2020, respectively. This amount is due to holds placed on its use by the Company’s merchant services vendor pending fulfillment of backorders prepaid by credit cards. The Company’s long-term restricted cash of $0.1 million at May 31, 2021 and November 30, 2020, consists of cash that the Company is contractually obligated to maintain in accordance with the terms of its lease agreement.

REVENUE, DEFERRED REVENUE AND A

REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE	6 Months Ended
	May 31, 2021
Revenue, Deferred Revenue And Accounts Receivable [Abstract]
REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE	9. REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE The Company generates revenue through the wholesale distribution of its products and accessories to dealers/distributors, large end-users such as security companies and law enforcement agencies, and through an e-commerce portal to consumers. Revenue is recognized upon transfer of control of goods to the customer, which generally occurs when title to goods is passed and risk of loss transfers to the customer. Depending on the contract terms, transfer of control is upon shipment of goods to or upon the customer’s pick-up of the goods. Payment terms to customers other than e-commerce customers are generally 30-60 days for established customers, whereas new wholesale and large end-user customers have prepaid terms for their first order. The amount of revenue recognized is net of returns and discounts that the Company offers to its customers. Products purchased include a standard warranty that cannot be purchased separately. This allows customers to return defective products for repair or replacement within one year of sale. The Company also sells an extended warranty for the same terms over three years. The extended 3-year warranty can be purchased separately from the product and therefore, must be classified as a service warranty. Since a warranty for the first year after sale is included and non-separable from all launcher purchases, the Company considers this extended warranty to represent a service obligation during the second and third years after sale. Therefore, the Company accumulates billings of these transactions on the balance sheet as deferred revenue, to be recognized on a straight-line basis during the second and third year after sale. The Company recognizes an estimated reserve based on its analysis of historical experience, and an evaluation of current market conditions. The Company’s returns under warranties have been immaterial. In February 2021, the Company identified certain Byrna® HD launchers that may contain a wire that is not to specification and offered customers a free factory service update for their launchers. The Company established a reserve of $0.2 million as an estimate of future related costs. As of May 31, 2021, approximately $0.06 million of these estimated costs have been incurred or resolved. The Company also has a 60-day money back guarantee, which allows for a full refund of the purchase price, excluding shipping charges, within 60 days from the date of delivery. The right of return creates a variable component to the transaction price and needs to be considered for any possible constraints. The Company estimates returns using the expected value method, as there will likely be a range of potential return amounts. The Company’s returns under the 60-day money back guarantee have been immaterial. Revenue excludes taxes collected from customers and remitted to government authorities related to sales of the Company’s products. Costs to obtain a contract consist of commissions paid to employees and are included in operating expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Commissions were $0 and $0.01 million for the three months ended May 31, 2021 and 2020, respectively. Commissions were $0.3 million and $0.01 million for the six months ended May 31, 2021 and 2020, respectively. Included as cost of goods sold are costs associated with the production and procurement of products, such as labor and overhead, inbound freight costs, manufacturing depreciation, purchasing and receiving costs, and inspection costs. The Company charges certain customers shipping and handling fees. Shipping and handling costs, which includes outbound freight associated with the distribution of finished products to customers, are recognized when the product is shipped to the customer and are included in Operating expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Shipping and handling costs were $0.6 million and approximately $0.003 million for the three months ended May 31, 2021 and 2020, respectively. Shipping and handling costs were $1.3 million and approximately $0.01 million for the six months ended May 31, 2021 and 2020, respectively. Allowance for Doubtful Accounts The Company provides an allowance for its accounts receivable for estimated losses that may result from its customers’ inability to pay. The Company determines the amount of the allowance by analyzing known uncollectible accounts, aged receivables, economic conditions, historical losses, and changes in customer payment cycles and its customers’ creditworthiness. Amounts later determined and specifically identified to be uncollectible are charged or written off against this allowance. A significant proportion of the Company’s sales are made via e-commerce. These orders are prepaid by credit card and involve no credit risk. To minimize the likelihood of uncollectible debt, the Company reviews its customers’ creditworthiness periodically. Material differences may result in the amount and timing of expense for any period if the Company were to make different judgments or utilize different estimates. The allowance for doubtful accounts was approximately $0.01 million for May 31, 2021 and November 30, 2020. Deferred Revenue Changes in deferred revenue, which relate to unfulfilled e-commerce orders and amounts to be recognized under extended 3-year service warranties, for the six months ended May 31, 2021 and the year ended November 30, 2020, are summarized below (in thousands). May 31, 2021 November 30, 2020 Deferred revenue balance, beginning of period $ 4,902 $ 11 Net additions to deferred revenue during the period 18,100 18,826 Reductions in deferred revenue for revenue recognized during the period (21,327 ) (13,935 ) Deferred revenue balance, end of period $ 1,675 $ 4,902 Revenue Disaggregation The following table presents disaggregation of the Company’s revenue by product type and distribution channel (in thousands): Three Months Ended Six Months Ended Product type 2021 2020 2021 2020 Byrna ® $ 13,356 $ 1,100 $ 22,249 $ 1,227 40mm 45 90 45 112 Total $ 13,401 $ 1,190 $ 22,294 $ 1,339 Three Months Ended Six Months Ended Distribution channel 2021 2020 2021 2020 Wholesale (dealer/distributors and large end-users) $ 2,107 $ 356 $ 3,776 $ 290 E-commerce 11,294 834 18,518 1,049 Total $ 13,401 $ 1,190 $ 22,294 $ 1,339

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	May 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	10. PROPERTY AND EQUIPMENT Property and equipment are recorded at cost and reflected net of accumulated depreciation and amortization. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, primarily three to seven years for computer equipment and software, furniture and fixtures, and machinery and equipment. Leasehold improvements are amortized over the lesser of the useful lives of three to seven years or lease terms. The following table summarizes cost and accumulated depreciation as of May 31, 2021 and November 30, 2020, respectively (in thousands). May 31, November 30, Computer equipment and software $ 259 $ 204 Furniture and fixtures 189 105 Leasehold improvements 229 144 Machinery and equipment 1,252 1,324 1,929 1,777 Less: accumulated depreciation 742 557 Total $ 1,187 $ 1,220 The Company recognized approximately $0.2 million and $0.01 million in depreciation expense during the six months ended May 31, 2021 and 2020, respectively. The Company recognized approximately $0.1 million and $0.01 million in depreciation expense during the three months ended May 31, 2021 and 2020, respectively. At May 31, 2021 and November 30, 2020, the Company had deposits of $0.7 million and $0.6 million, respectively, with vendors primarily for supply of machinery (molds) and equipment where the vendors have not completed the supply of these assets and is presented as Deposits for equipment in the Condensed Consolidated Balance Sheets. During the six months ended May 31, 2021, the Company transferred equipment with a net book value of $0.1 million to a lessee under a sales-type lease. See Note 21, “Leases” for additional information.

INVENTORY

INVENTORY	6 Months Ended
	May 31, 2021
Inventory Disclosure [Abstract]
INVENTORY	11. INVENTORY The following table summarizes inventory as of May 31, 2021 and November 30, 2020, respectively (in thousands). May 31, November 30, Raw materials $ 3,999 $ 2,901 Work in process 159 302 Finished goods 2,449 1,614 Total $ 6,607 $ 4,817 Inventory at May 31, 2021 and November 30, 2020, primarily relates to the Byrna ®

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	6 Months Ended
	May 31, 2021
Prepaid expenses and other receivables [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	12. PREPAID EXPENSES AND OTHER CURRENT ASSETS The following table summarizes prepaid expenses and other current assets as of May 31, 2021 and November 30, 2020, (in thousands): May 31, November 30, VAT receivables $ 562 $ 572 Advance payment for inventory 232 677 Prepaid insurance 245 16 Other 243 126 Total $ 1,282 $ 1,391

PATENT RIGHTS

PATENT RIGHTS	6 Months Ended
	May 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
PATENT RIGHTS	13. PATENT RIGHTS On May 12, 2021, the Company entered into an asset purchase agreement with Kore, pursuant to which the Company acquired the exclusive right to use the key patents and intellectual property underpinning the acquired suite of products. As consideration for the tangible and intangible assets included in the Kore Portfolio, the Company paid Kore $3.5 million, and incurred $0.2 in legal costs to transfer these patent rights. Of the $3.7 million consideration, $2.8 million was capitalized relating to the key patents and intellectual property acquired. No amortization has been recorded for the patent rights during the three or six months ended May 31, 2021 but will begin in June 2021. These patent rights have a maximum life of 20 years, expiring on various dates beginning from January 2037 to 2038, and will be amortized on a straight-line basis over a period of 15 years. On April 13, 2018, the Company entered into a purchase and sale agreement with Andre Buys (“Buys”), the Company’s Chief Technology Officer (“CTO”), pursuant to which the Company agreed to purchase the Buys Portfolio, provisional patent rights, and other intellectual property relating to air and/or gas fired long guns or pistols, including pump action launchers and munitions used with such pistols and long guns, including self-stabilizing shaped or “finned” rounds. As consideration for the Buys Portfolio, the Company paid Buys $0.1 million, and incurred $0.01 in legal costs to transfer these patent rights. This consideration of $0.1 million was capitalized and represents the minimum rights to a license arrangement as patent rights as the Agreement included an option for full acquisition of the rights, conditional upon certain future events taking place. The Company also agreed to pay Buys either $0.5 million in cash or $0.8 million worth of Company stock within two years at Buys’ discretion, if the Company elected to retain certain patents within the Buys Portfolio, which terms were changed by subsequent amendment. Pursuant to an amendment of the Agreement effective December 18, 2019, the Company made two additional payments to Buys totaling of $0.8 million, consisting of the Second Payment of $0.7 million through the issuance of 386,681 shares of common stock and Final Payment of $0.1 million in cash. The Final Payment was paid during the quarter ended May 31, 2020. Buys no longer retains any reversion rights or security interests in the Buys Portfolio. These patent rights have a maximum life of 20 years, expiring on various dates beginning from November 2033 to 2038, and are amortized on a straight-line basis over a period of 15 years. The Company amortized $0.03 million and $ 0.03 million of patent rights during six months ended May 31, 2021 and 2020. The Company recognized $0.01 million and $0.02 million in amortization expense during the three months ended May 31, 2021 and 2020, respectively. The Company did not recognize any impairment losses during the three and six months ended May 31, 2021 and 2020, respectively.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6 Months Ended
	May 31, 2021
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	14. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The Company’s accounts payable and accrued liabilities consist of the following (in thousands): May 31, 2021 November 30, 2020 Trade payables $ 1,925 $ 3,475 Accrued sales and use tax 853 1,050 Payroll accrual 658 904 Accrued commissions 6 375 Accrued professional fees 227 217 Accrued royalties 122 180 Warranty 213 268 Income taxes payable 350 — Other accrued liabilities 217 160 Total $ 4,571 $ 6,629

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	May 31, 2021
Notes Payable [Abstract]
NOTES PAYABLE	15. NOTES PAYABLE The Company received $0.2 million of funding under the Paycheck Protection Program (“PPP”) on May 4, 2020. The PPP loan was disbursed by the Coronavirus Aid Relief and Economic Security (“CARES”) Act as administered by the U.S. Small Business Administration. The loan was made pursuant to a PPP Promissory Note and Agreement. Loans obtained through the PPP are eligible to be forgiven as long as the proceeds are used for qualifying purposes and certain other conditions are met. The receipt of these funds, and the forgiveness of the loan was dependent on the Company having initially qualified for the loan and qualifying for the forgiveness of such loan based on its adherence to the forgiveness criteria. In June 2020, Congress passed the Payroll Protection Program Flexibility Act that made several significant changes to PPP loan provisions, including providing greater flexibility for loan forgiveness. On February 10, 2021, the Company received approval from the Small Business Administration (“SBA”) for $0.2 million of PPP loan forgiveness. This amount was recorded as Forgiveness of Paycheck Protection Program loan in the accompanying Condensed Consolidated Statements of Operations and Comprehensive (Income) Loss during the six months ended May 31, 2021.

LINES OF CREDIT

LINES OF CREDIT	6 Months Ended
	May 31, 2021
Notes Payable [Abstract]
LINES OF CREDIT	16. LINES OF CREDIT On January 19, 2021, the Company entered into a $5.0 million revolving line of credit with a bank. The revolving line of credit bears interest at a rate equal to the Wall Street Journal Prime Rate plus 0.50%, subject to a floor of 4.00%. The revolving line of credit is secured by the Company’s accounts receivable and inventory. The line of credit is subject to an unused fee of 0.25% paid once annually. The line of credit expires on January 19, 2024. The outstanding balance on the revolving line of credit is $1.5 million as of May 31, 2021. On January 19, 2021, the Company entered into a $1.5 million equipment financing line of credit with a bank. The line of credit bears interest at a rate equal to the Wall Street Journal Prime Rate plus 0.50%, subject to a floor of 4.00%. The line of credit is secured by the Company’s equipment. The line of credit is subject to an unused fee of 0.25% paid once annually. The line of credit expires on January 19, 2024. As of May 31, 2021, the Company had not drawn on the equipment financing line of credit. Debt issuance costs related to the lines of credit were approximately $0.1 million. Debt issuance costs are being amortized over the term of the debt and are presented as part of Other Assets in the Condensed Consolidated Balance Sheets. Amortization of approximately $0.01 million for the three months ended May 31, 2021 is included in Interest expense in the Condensed Consolidated Statements of Operations and Comprehensive (Income) Loss. Amortization of approximately $0.01 million for the six months ended May 31, 2021 is included in Other financing costs in the Condensed Consolidated Statements of Operations and Comprehensive (Income) Loss.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	May 31, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY	17. STOCKHOLDERS’ EQUITY Series A Preferred Stock Effective April 8, 2020, the Company exchanged an aggregate of approximately $7.0 million of all its then-outstanding notes, representing principal and accrued interest through April 7, 2020, for 1,391 shares Series A Preferred Stock. The shares of Series A Preferred Stock were recorded at fair value of $11.6 million (before reduction of $0.029 million related to issue costs) based on a per share fair value of $0.008 million. The per share fair value was determined using the number of common stock shares in a conversion (3,333 = $0.005 million original issue price divided by $1.50 conversion price) multiplied by the $2.50 market price of a share of common stock. Each share of Series A Preferred Stock had a $0.005 million issue price. Dividends accrued on the issue price at a rate of 10.0% per annum and were payable to holders of Series A Preferred Stock as if declared by the Board. As the Company did not pay the dividends in cash, the unpaid accrued dividends was settled upon conversion to shares of common stock, the Company recorded dividends distributable at the contractual dividend rate. The dividends were cumulative and accrued starting from the April 8, 2020 issuance date. Each share of Series A Preferred Stock was convertible into the number of shares of common stock equal to the issue price divided by the conversion price of $1.50. Upon conversion of the Series A Preferred Stock, all accrued and unpaid dividends were converted to common stock utilizing the same conversion formula. The conversion price was subject to proportional adjustment for certain transactions relating to the Company’s common stock, including stock splits, stock dividends and similar transactions. Holders of Series A Preferred Stock were entitled to a liquidation preference in the event of any liquidation, dissolution or winding up of the Company. On April 9, 2021, the Board of Directors declared a cash dividend in the amount of $750 per share of Series A Convertible Preferred Stock, par value $0.001 per share, outstanding at the close of business on April 12, 2021 (the record date), in the aggregate amount of $1.0 million. In connection therewith, the Company and each holder of Series A Convertible Preferred Stock agreed that effective April 15, 2021, the Series A Convertible Preferred Stock, plus accrued unpaid dividends thereon be converted to 4,636,649 shares of common stock, with an additional 695,498 shares of common stock issued in exchange for all accrued and unpaid dividends. Warrants During the six months ended May 31, 2021, the Company raised $1.2 million through warrant exercises, where 486,684 warrants were exercised at a contractual price of $2.50 per warrant for 486,684 shares of common stock. During the three months ended May 31, 2021, the Company raised $1.0 million through warrant exercises, where 433,265 warrants were exercised at a contractual price of $2.50 per warrant for 433,265 shares of common stock. During March 2020, the Company raised approximately $3.2 million through early warrant exercises, where 1,997,911 warrants were exercised for 1,997,911 shares of common stock. The warrant exercise price was reduced from $2.50 to $1.60 per warrant to induce warrant holders to exercise. The Company recorded warrant inducement expense of $0.8 million, which represents the difference between fair value at the reduced price of $1.60 per warrant and fair value at the contractual price of $2.50. The fair values of the warrants at $1.60 and $2.50 were determined using a Monte Carlo simulation model. During the six months ended May 31, 2020, a warrant holder exercised 11,792 warrants for 11,792 shares of common stock at an exercise price of $1.80 per warrant for proceeds of $0.02 million. During the six months ended May 31, 2020, the Company issued 49,842 warrants to those note holders who returned interest checks and accepted payment in kind of units consisting of then convertible notes with a face value of $0.1 million together with 400 warrants for every $1,000 of accrued interest to satisfy $0.1 million of accrued interest that was payable through October 31, 2019. The warrants are each exercisable for one share of common stock at an exercise price of $2.50 per share on or before October 22, 2023. The Company also issued 15,000 warrants as payment to a consultant for marketing services. The warrants are each exercisable for one share of common stock at an exercise price of $2.50 per share on or before February 5, 2021. The following table summarizes warrant activity, which includes the incentive warrants, during the six months ended May 31, 2021: Weighted-Average Exercise Number of Price Warrants $ Outstanding at November 30, 2020 585,739 2.40 Granted — — Exercised (486,684 ) 2.50 Outstanding at May 31, 2021 99,055 1.91 Exercisable at May 31, 2021 99,055 1.91

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	May 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	18. STOCK-BASED COMPENSATION 2017 Plan The Company has granted stock options and other stock-based awards under its 2017 Stock Option Plan (the “2017 Plan”). The maximum number of shares of common stock which could have been reserved for issuance under the 2017 plan was 1,899,327. The 2017 Plan was administered by the Compensation Committee of the Board. The Compensation Committee determined the persons to whom options to purchase shares of common stock, and other stock-based awards may be granted. Persons eligible to receive awards under the 2017 Plan were employees, officers, directors, and consultants of the Company. Awards were at the discretion of the Compensation Committee. On February 24, 2021 the Company terminated the 2017 Plan and adopted the 2020 Equity Incentive Plan (defined below). In connection with the adoption of the 2020 Plan, the Company cancelled outstanding option awards granted under the 2017 Plan and replaced them with new award agreements evidencing an equivalent award under the 2020 Equity Incentive Plan with no change to any of the material provisions of the 2017 Plan option. 2020 Plan On October 23, 2020, the Company adopted the Byrna Technologies Inc. 2020 Equity Incentive Plan (the “2020 Equity Incentive Plan”). The aggregate number of shares of common stock available for issuance in connection with options and other awards granted under the 2020 Plan is 25,000,000. The 2020 Plan is administered by the Compensation Committee of the Board. The Compensation Committee determines the persons to whom options to purchase shares of common stock, stock appreciation rights (“SARs”), restricted stock units (“RSUs”), and restricted or unrestricted shares of common stock may be granted. Persons eligible to receive awards under the 2020 Equity Incentive Plan are employees, officers, directors, consultants, advisors and other individual service providers of the Company. Awards are at the discretion of the Compensation Committee. On February 24, 2021, following the termination of the 2017 Plan, the Company replaced outstanding options under the 2017 Plan with options under the 2020 Equity Incentive Plan. There were no substantive changes to the rights of any holder of options granted under the 2017 plan by replacing their award certificates with award agreements under the 2020 plan. The grant dates, exercise prices, expiry dates, and vesting provisions if any of the new award agreements under the 2020 plan that replace the certificates issued under the 2017 plan are identical for each grant and no change in valuation or accounting was required. The Board also amended the definition of Disability in the 2020 Plan to provide that “Disability” has the meaning assigned to such term in any individual employment agreement or award agreement with a plan participant and that if no such definition is provided in an award or employment agreement “Disability” is defined as in the 2020 Plan. The Company accounts for all stock-based payment awards granted to employees and non-employees as stock-based compensation expense at their grant date fair value. The Company’s stock-based payments include stock options, RSUs, and incentive warrants. The measurement date for employee awards is the date of grant, and stock-based compensation costs are recognized as expense over the employees’ requisite service period, on a straight-line basis. The measurement date for non-employee awards is generally the date the services were completed, resulting in financial reporting period adjustments to stock-based compensation during either the expected term or the contractual term. Stock-based compensation costs for non-employees are recognized as expense over the vesting period on a straight-line basis. Forfeitures are accounted for as they occur. The fair value of each grant is estimated on the date of grant by using either the Black-Scholes, Binomial Lattice, or the quoted stock price on the date of grant, unless the awards are subject to market conditions in which case the Company uses the Monte Carlo simulation model. Due to the Company’s limited history, the expected term of the Company’s stock options granted to employees has been determined utilizing the method as prescribed by the SEC’s Staff Accounting Bulletin, Topic 14. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future. Restricted Stock Units During the six months ended May 31, 2021 and 2020, the Company granted 174,493 and 0 RSUs, respectively. During the three months ended May 31, 2021 and 2020, the Company granted 174,493 and 0 RSUs, respectively. 159,000 of the RSUs issued have a “double trigger” for vesting based on stock price and time, as follows: (1) one-third of the RSUs are not subject to any market trigger, the second one-third of the RSUs will be triggered when the Company’s stock trades above $30.00 on a 20-day VWAP, and the final one-third of the RSUs will be triggered when the stock trades above $40.00 on a 20-day VWAP and (2) the employee must remain employed by the Company for three years from the effective date for the RSUs to vest. 15,493 RSUs have a time trigger only and vest in approximately one year. RSU's outstanding at December 1, 2020 totaling 300,000 met a market condition for the first market condition trigger of vesting and are now subject only to a time-trigger for final vesting. Stock-based compensation expense for the RSUs for the three months ended May 31, 2021 and 2020 was $0.7 million and $0, respectively. Stock-based compensation expense for the RSUs for the six months ended May 31, 2021 and 2020 was $1.4 million and $0, respectively. The Company recorded stock-based compensation expense for restricted stock units granted to non-employees of approximately $0.07 million and $0 million during the three and six months ended May 31, 2021 and 2020, respectively. The following table summarizes the RSU activity during the six months ended May 31, 2021: RSUs Unvested and outstanding as of November 30, 2020 1,573,500 Granted 174,493 Exercised — Cancelled — Unvested and outstanding at May 31, 2021 1,747,993 Stock Options During the six months ended May 31, 2021 and 2020, the Company granted options to employees and directors to purchase 29,000 and 391,750 shares of common stock, respectively. The options issued during the six months ended May 31, 2021 vest over three years. The Company recorded stock-based compensation expense for options granted to its employees and directors of $0.17 million and $0.6 million during the six months ended May 31, 2021 and 2020, respectively. The Company recorded stock-based compensation expense for options granted to its employees and directors of $0.09 million and $0.01 million during the three months ended May 31, 2021 and 2020, respectively. During the six months ended May 31, 2021, 82,250 stock options were forfeited resulting in net benefit of stock-based compensation of approximately $0.093 million. During the three months ended May 31, 2021, 66,000 stock options were forfeited resulting in net benefit of stock-based compensation of approximately $0.06 million. During the six months ended May 31, 2021 and 2020, the Company granted options to purchase 0 and 11,000, shares of common stock to non-employee contractors, respectively. The Company recorded stock-based compensation expense for options granted to non-employees of approximately $0.02 million during the three and six months ended May 31, 2021 and 2020, respectively. Stock Option Valuation The assumptions that the Company used to determine the grant-date fair value of stock options granted to employees and non-employees for the six months ended May 31, 2021 were as follows: Black-Scholes option pricing model Risk free rate 0.33 % Expected dividends 0.00 Expected volatility 83 – 113 % Expected life 4 – 5 years Market price of the Company’s common stock on date of grant $ 14.74 – 19.70 Exercise price $ 14.90 – 17.00 The following table summarizes option activity under the 2017 and 2020 Plan during the six months ended May 31, 2021: Stock Weighted-Average Options CDN$ USD$ Outstanding, November 30, 2020 (1) 705,967 2.40 3.10 Granted 41,000 18.90 15.60 Exercised (22,667 ) (1.90 ) (1.50 ) Forfeited (82,250 ) (5.10 ) (4.20 ) Outstanding, May 31, 2021 (2) 642,050 3.60 3.00 Exercisable, May 31, 2021 (2) 642,050 2.60 2.20 (1) As of November 30, 2020 all options were governed by the 2017 Plan. (2) As of May 31, 2021 all options were governed by the 2020 Plan. Incentive Warrants During the six months ended May 31, 2021 and 2020, the Company issued 0 and 15,000 of warrants in exchange for services to a marketing consultant to purchase common shares, respectively. The warrants were issued outside of the 2017 Plan and were not included under the 2020 Plan. Stock-based compensation expense for the six months ended May 31, 2021 and 2020 was $0 and $0.02 million, respectively. Stock-based compensation expense for the three months ended May 31, 2021 and 2020 was $0. Stock-Based Compensation Expense Total stock-based compensation expense was $1.5 million and $0.6 million for the six months ended May 31, 2021 and 2020, respectively. Total stock-based compensation expense was $0.8 million and $0.01 million for the three months ended May 31, 2021 and 2020, respectively. Total stock-based compensation expense was recorded in Operating expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive (Income) Loss.

INCOME (LOSS) PER SHARE

INCOME (LOSS) PER SHARE	6 Months Ended
	May 31, 2021
Earnings Per Share [Abstract]
INCOME (LOSS) PER SHARE	19. INCOME (LOSS) PER SHARE For the three and six months ended May 31, 2021, the Company recorded net income. As such, the Company used diluted weighted-average common shares outstanding when calculating diluted income per share for the three and six months ended May 31, 2021. Warrants, stock options, and RSUs that could potentially dilute basic earnings per share (“EPS”) in the future are included in the computation of diluted income per share. For the three and six months ended May 31, 2020, the Company recorded a net loss. As such, because the dilution from potential common shares was antidilutive, the Company used basic weighted-average common shares outstanding, rather than diluted weighted-average common shares outstanding when calculating diluted loss per share for the three and six months ended May 31, 2020. Preferred Stock, warrants, stock options, and RSUs that could potentially dilute basic EPS in the future that were not included in the computation of diluted loss per share were as follows: For the Three Months Ended For the Six Months Ended Series A Preferred Stock 4,636,667 4,636,667 Warrants 2,783,702 2,783,702 Stock Options 672,667 672,667 RSUs — — Total 8,093,036 8,093,036 The following table sets forth the allocation of net income (loss) for the three and six months ended May 31, 2021 and 2020, respectively: For the Three Months Ended For the Six Months Ended 2021 2020 2021 2020 Net income (loss) $ 2,037 $ (8,061 ) $ 1,765 $ (10,346 ) Net income applicable to preferred stock (1,043 ) — (1,043 ) — Income available to common shareholders $ 994 $ (8,061 ) $ 722 $ (10,346 ) The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three and six months ended May 31, 2021 and 2020: For the Three Months Ended For the Six Months Ended 2021 2020 2021 2020 Weighted-average common shares outstanding- basic 17,800,749 12,068,759 16,359,496 11,271,719 Assumed conversion of: Dilutive Stock Options 597,214 — 600,918 — Dilutive Warrants 304,883 — 399,332 — Dilutive RSUs 286,385 — 244,385 — Weighted-average common share outstanding- diluted 18,989,231 12,068,759 17,604,131 11,271,719 1,155,000 RSUs outstanding during the three and six months ended March 31, 2021, were not included in the computation of diluted earnings per share because they are contingently issuable shares. The following were excluded from the calculation of diluted net income per share for the three and six months ended May 31, 2021 because their effects are anti-dilutive: For the Three Months Ended May 31, 2021 For the Six Months Ended May 31, 2021 Antidilutive securities: Options 638,000 518,000 RSUs 50,000 68,493 Total antidilutive securities 688,000 586,493

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	May 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	20. RELATED PARTY TRANSACTIONS The following transactions are in the normal course of operations and are measured at the amount of consideration established and agreed to by related parties. Amounts due to related parties are unsecured, non-interest bearing with the exception of notes payable, and due on demand. The Company expensed $0.2 million and approximately $0.001 million for royalties due to Buys, the Company’s CTO, during the six months ended May 31, 2021 and 2020, respectively and had accrued royalties of $0.1 million and $0.3 million as of May 31, 2021 and November 30, 2020, respectively. The Company also recorded stock-based compensation expense of approximately $0.006 million and $0.008 million during the six months ended May 31, 2021 and 2020, related to stock options granted to Buys in 2018 to acquire 150,000 shares of common stock. Stock-based compensation expense was $0.002 million and $0.004 million during the three months ended May 31, 2021 and 2020, respectively. The Company issued 386,681 shares of common stock with a value of $0.7 million in connection with the Second Payment to Buys for the portfolio of registered patent rights (the “Buys Portfolio”) during the six months ended May 31, 2021. See Note 13, “Patent Rights,” for additional information. The Company leased office premises at Wakefield, Massachusetts for rent, utilities and maintenance charge of approximately $0.002 million per month from a corporation owned and controlled by Bryan Ganz (“Ganz”), President and, effective April 1, 2019, Chief Executive Officer (“CEO”) of the Company. This lease was terminated June 30, 2020. The Company expensed $0.02 for these items during the six months ended May 31, 2020. The Company expensed $0.01 million for these items during the three months ended May 31, 2020.

LEASES

LEASES	6 Months Ended
	May 31, 2021
Leases [Abstract]
LEASES	21. LEASES Operating Leases The Company has operating leases for real estate in the United States and South Africa and does not have any finance leases. In 2019, the Company had entered into a real estate lease for office space in Wilmington/Andover, Massachusetts. The Company was involved in the construction and design of the space and incurred construction costs, subject to an allowance for tenant improvements of $0.2 million. The lease expiration date is August 31, 2026. The base rent is $0.1 million per year, subject to an annual upward adjustment. The lease commencement date, for accounting purposes, was reached in June 2020 when the Company was granted access to the premises and therefore the lease is included in the Company’s operating lease right-of-use asset and operating lease liabilities as of June 2020. The Company leased office and warehouse space in South Africa under a lease that expired on November 30, 2020. The base rent was approximately $0.004 million per month. In December 2020, the Company entered into a new lease for office and warehouse space. The lease expires in November 2024. The base rent during the six months ended May 31, 2021 was approximately $0.005 per month. The Company leased real estate in Fort Wayne Indiana. The lease expires on February 28, 2022. In February 2021, the Company entered into a lease termination agreement with the landlord. Upon termination, the Company was required to pay a termination fee of approximately $0.02 million. The Company leases warehouse and manufacturing space in Fort Wayne, Indiana. The lease expires on July 31, 2025. The base rent is approximately $0.008 million per month. The Company also leases office space in Las Vegas, Nevada. The lease expires on August 31, 2022. The base rent is approximately $0.004 million per month. Certain of the Company’s leases contain options to renew and extend lease terms and options to terminate leases early. Reflected in the right-of-use asset and lease liability on the Company’s balance sheets are the periods provided by renewal and extension options that the Company is reasonably certain to exercise, as well as the periods provided by termination options that the Company is reasonably certain to not exercise. As of May 31, 2021 and November 30, 2020, right-of-use assets of $1.2 million and $1.2 million, current lease liabilities of $0.2 million and $0.3 million and non-current lease liabilities of $0.9 million and $0.8 million, respectively, are reflected in the accompanying Condensed Consolidated Balance Sheets. The elements of lease expense were as follows (in thousands): Three Months Ended Six Months Ended May 31, 2021 May 31, 2021 Lease Cost: Operating lease cost $ 87 $ 179 Short-term lease cost 5 5 Variable lease cost — — Total lease cost $ 92 $ 184 Other Information: Cash paid for amounts included in the measurement of operating lease liabilities $ 156 Operating lease liabilities arising from obtaining right-of-use assets $ 182 Operating Leases: Weighted-average remaining lease term (in years) 4.7 years Weighted-average discount rate 9.3 % Future lease payments under non-cancelable operating leases as of May 31, 2021 are as follows (in thousands): Fiscal Year Ending November 30 2021 (six months) $ 161 2022 315 2023 282 2024 290 2025 187 Thereafter 157 Total lease payments 1,392 Less: imputed interest 255 Total lease liabilities $ 1,137 Sales-Type Leases During the six months ended May 31, 2021, the Company entered into an equipment lease as lessor. The lease is being accounted for as a sale-type lease. The term of the lease is three years. For a sales-type lease, the carrying amount of the asset is derecognized from property and equipment and a net investment in the lease is recorded. The net investment in the lease is measured at commencement date as the sum of the lease receivable and the estimated residual value of the equipment. The unguaranteed residual value of the equipment is determined as the estimated carrying value of the asset at the end of the lease term had the asset been depreciated on a straight-line basis. Selling profit or loss arising from a sales-type lease is recorded at lease commencement and presented on a gross basis. Over the term of the lease, the Company recognizes interest income on the net investment in the lease. At lease commencement, the Company determined the unguaranteed residual value of the equipment was $0 and the selling profit or loss was immaterial. The receivable recorded as a result of the lease is collateralized by the underlying equipment and consist of the following components at May 31, 2021 (in thousands): Net minimum lease payments to be received $ 121 Less: unearned interest income portion 14 Net investment in sales-type leases 107 Less: current portion 44 Net investment in sales-type leases, non-current $ 63 The maturity schedule of future minimum lease payments under sales-type leases and the reconciliation to the net investment in sales-type leases reported at May 31, 2021 was as follows (in thousands): Fiscal Year Ending November 30, 2021 (six months) $ 27 2022 54 2023 40 Total future minimum sales-type lease payments 121 Less: unearned income 14 Total net investment in sales-type leases $ 107

INCOME TAXES

INCOME TAXES	6 Months Ended
	May 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	22. INCOME TAXES For the three months ended May 31, 2021 and 2020, the Company recorded an income tax expense of $0.2 million and $0, respectively. For the six months ended May 31, 2021 and 2020, the Company recorded an income tax expense of $0.2 million and $0, respectively. For the three months ended May 31, 2021 and 2020, the effective tax rate was 8.2% and 0%, respectively. For the six months ended May 31, 2021 and 2020, the effective tax rate was 9.4% and 0%, respectively. The Company’s tax rate differs from the statutory rate of 21.0% due to the effects of state taxes net of federal benefit, the foreign tax rate differential as a result of Byrna South Africa, effects of permanent non-deductible expenses, the recording of a valuation allowance against the deferred tax assets generated in the prior period, utilization of Net Operating Loss (“NOL”) and other effects. The Company is subject to income tax in the U.S., as well as various state and international jurisdictions. The federal and state tax authorities can generally reduce a net operating loss (but not create taxable income) for a period outside the statute of limitations in order to determine the correct amount of net operating loss which may be allowed as a deduction against income for a period within the statute of limitations. Additional information regarding the statutes of limitations can be found in Note 23, “Income Taxes,” in the Notes to Consolidated Financial Statements included in Item 8 of our Annual Report on Form 10-K for the year ended November 30, 2020. On March 27, 2020, Congress signed into law the $2 trillion bipartisan Coronavirus Aid, Relief and Economic Security (CARES) Act. The CARES Act includes a variety of economic and tax relief measures intended to stimulate the economy, including loans for small businesses, payroll tax credits/deferrals, and corporate income tax relief. Due to the Company’s history of net operating losses and full valuation allowance, the CARES Act did not have a significant effect to the income tax provision, as the corporate income tax relief was directed towards cash taxpayers.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	May 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	23. COMMITMENTS AND CONTINGENCIES Royalty Payment Pursuant to the amended agreement related to the Final Payment to Buys for the Buys Portfolio, the Company is committed to a minimum royalty payment of $0.025 million per year. Royalties on CO2 pistols are to be paid for so long as patents remain effective beginning at 2 ½% of the agreed upon a net price of $167.60 (“Stipulated Net Price”) for the first year and reduced by 0.1% each year thereafter until it reaches 1%. For each substantially new product in this category, the rate will begin again at 2 ½%. Royalties on the fintail projectiles (and any improved versions thereof) will be paid so long as patents remain effective at a rate of 4% of the agreed upon Stipulated Net Price for fintail projectile products. COVID-19 Pandemic and the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the “COVID-19 outbreak”) and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report. As such, it is uncertain as to the full magnitude that the pandemic may have on the Company’s financial condition, liquidity, and future results of operations. Management is actively monitoring the impact of the global situation on its financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 outbreak on its results of operations, financial condition, or liquidity for fiscal year 2021. The Company faces various risks related to COVID-19 outbreak. The Company is dependent on its workforce to deliver its products. If significant portions of the Company’s workforce are unable to work effectively, or if customers’ operations are curtailed due to illness, quarantines, government actions, facility closures, or other restrictions in connection with the COVID-19 pandemic, the Company’s operations will likely be impacted. The Company may be unable to perform fully on its contracts and costs may increase as a result of the COVID-19 outbreak. These cost increases may not be fully recoverable or adequately covered by insurance. Since the COVID-19 outbreak began, no facilities have been fully shut down. Certain of the Company’s vendors may be unable to deliver materials on time due to the COVID-19 outbreak. Such delays may negatively impact the Company’s production, and the Company plans to continue to monitor these and its other vendors and, if necessary, seek alternative suppliers. On March 27, 2020, then President Trump signed into law the CARES Act. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act also appropriated funds for the Small Business Administration (SBA) Paycheck Protection Program loans that are forgivable in certain situations to promote continued employment, as well as Economic Injury Disaster Loans to provide liquidity to small businesses harmed by COVID-19. Product Liability In February 2021, the Company identified certain Byrna® HD launchers that may contain a wire that is not to specification and, as a result, the Company accrued a $0.2 million reserve for the possible costs related to updating affected launchers. As of May 31, 2021, approximately $0.06 million of these estimated costs have been incurred or resolved. Legal Proceedings In the ordinary course of our business, the Company may be subject to certain other legal actions and claims, including product liability, consumer, commercial, tax and governmental matters, which may arise from time to time. The Company does not believe it is currently a party to any pending legal proceedings. Notwithstanding, legal proceedings are subject-to inherent uncertainties, and an unfavorable outcome could include monetary damages, and excessive verdicts can result from litigation, and as such, could result in a material adverse impact on the Company’s business, financial position, results of operations, and/or cash flows. Additionally, although the Company has specific insurance for certain potential risks, the Company may in the future incur judgments or enter into settlements of claims which may have a material adverse impact on the Company’s business, financial position, results of operations, and/or cash flows.

EXCLUSIVE SUPPLY AND PURCHASE A

EXCLUSIVE SUPPLY AND PURCHASE AGREEMENTS	6 Months Ended
	May 31, 2021
Exclusive supply and purchase agreement [Abstract]
EXCLUSIVE SUPPLY AND PURCHASE AGREEMENTS	24. EXCLUSIVE SUPPLY AND PURCHASE AGREEMENTS The Company entered into a Development, Supply and Manufacturing Agreement with the manufacturer of the 40mm blunt impact projectile (“BIP”) on August 1, 2017. This agreement requires the Company to order and purchase only from the BIP manufacturer certain BIP assemblies and components for use by the Company to produce less-lethal and training projectiles as described in the agreement. The agreement is for a term of four years with an automatic extension for additional one-year terms if neither party has given written notice of termination at least 60 days prior to the end of the then-current term. The agreement does not contain any minimum purchase commitments. Purchases from the BIP manufacturer were $0 and $0.07 million for the six months ended May 31, 2021 and 2020, respectively. Purchases from the BIP manufacturer were $0 and $0.06 million for the three months ended May 31, 2021 and 2020, respectively. Notice has been provided and this Development, Supply and Manufacturing Agreement will not be extended after August 1, 2021.

SEGMENT AND GEOGRAPHICAL DISCLO

SEGMENT AND GEOGRAPHICAL DISCLOSURES	6 Months Ended
	May 31, 2021
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHICAL DISCLOSURES	25. SEGMENT AND GEOGRAPHICAL DISCLOSURES The CEO, who is also the Chief Operating Decision Maker, evaluates the business as a single entity, which includes reviewing financial information and making business decisions based on the overall results of the business. As such, the Company’s operations constitute a single operating segment and one reportable segment. The tables below summarize the Company’s revenue for the three and six months ended May 31, 2021 and 2020, respectively, by geographic region (in thousands). Revenue: Three Months Ended U.S. South Africa Total May 31, 2021 $ 12,868 $ 533 $ 13,401 May 31, 2020 1,077 113 1,190 Six Months Ended U.S. South Africa Total May 31, 2021 $ 21,325 $ 969 $ 22,294 May 31, 2020 1,321 18 1,339

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	May 31, 2021
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	26. FINANCIAL INSTRUMENTS The Company is exposed to risks that arise from its use of financial instruments. This note describes the Company’s objectives, policies and processes for managing those risks and the methods used to measure them. i) Currency Risk The Company held its cash balances within banks in Canada in both U.S. dollars and Canadian dollars, with banks in the U.S. in U.S. dollars, and with banks in South Africa in U.S. dollars and South African rand. The Company’s operations are conducted in the U.S. and South Africa. The value of the South African rand against the U.S. dollar may fluctuate with the changes in economic conditions. During the six months ended May 31, 2021, in comparison to the prior year period, the U.S. dollar strengthened in relation to the South African rand, and upon the translation of the Company’s subsidiaries’ revenues, expenses, assets and liabilities held in South African rand, respectively. As a result, the Company recorded a translation adjustment gain of $0.2 million and $0.1 million primarily related to the South African rand during the six months ended May 31, 2021 and 2020, respectively. The Company recorded a translation adjustment gain/(loss) of $0.1 and $0.1 million primarily related to the South African rand during the three months ended May 31, 2021 and 2020, respectively. The Company’s South African subsidiary revenues, cost of goods sold, operating costs and capital expenditures are denominated in South African rand. Consequently, fluctuations in the U.S. dollar exchange rate against the South African rand increases the volatility of sales, cost of goods sold and operating costs and overall net earnings when translated into U.S. dollars. The Company is not using any forward or option contracts to fix the foreign exchange rates. Using a 10% fluctuation in the U.S. exchange rate, the impact on the loss and stockholders’ equity is not material. ii) Credit Risk Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The financial instruments that potentially subject the Company to credit risk consist of cash and accounts receivable. The Company maintains cash with high credit quality financial institutions located in the U.S. and South Africa. The Company maintains cash and cash equivalent balances with financial institutions in the U.S. in excess of amounts insured by the Federal Deposit Insurance Corporation. The Company provides credit to its customers in the normal course of its operations. It carries out, on a continuing basis, credit checks on its customers.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	May 31, 2021
Business Combinations [Abstract]
Schedule of asset acquisition	The estimated total cost of the acquisition has been allocated as follows (in thousands): Assets Accounts receivable $ 465 Prepaid expenses 165 Inventory 82 Property and equipment 180 Intangible assets 2,810 Total acquired assets $ 3,702
Schedule of estimated fair value of assets acquired and liabilities assumed	The estimated fair value of assets acquired and liabilities assumed on May 5, 2020 is as follows: Property and equipment $ 67 Goodwill 651 Right-of-use asset, net 54 Loan payable (123 ) Operating lease liability, current (35 ) Operating lease liability, noncurrent (19 ) Other net asset (liabilities) (38 ) Net Assets $ 557

REVENUE, DEFERRED REVENUE AND_2

REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	May 31, 2021
Revenue, Deferred Revenue And Accounts Receivable [Abstract]
Schedule of deferred revenue	Changes in deferred revenue, which relate to unfulfilled e-commerce orders and amounts to be recognized under extended 3-year service warranties, for the six months ended May 31, 2021 and the year ended November 30, 2020, are summarized below (in thousands). May 31, 2021 November 30, 2020 Deferred revenue balance, beginning of period $ 4,902 $ 11 Net additions to deferred revenue during the period 18,100 18,826 Reductions in deferred revenue for revenue recognized during the period (21,327 ) (13,935 ) Deferred revenue balance, end of period $ 1,675 $ 4,902
Schedule of revenue disaggregation	The following table presents disaggregation of the Company’s revenue by product type and distribution channel (in thousands): Three Months Ended Six Months Ended Product type 2021 2020 2021 2020 Byrna ® $ 13,356 $ 1,100 $ 22,249 $ 1,227 40mm 45 90 45 112 Total $ 13,401 $ 1,190 $ 22,294 $ 1,339 Three Months Ended Six Months Ended Distribution channel 2021 2020 2021 2020 Wholesale (dealer/distributors and large end-users) $ 2,107 $ 356 $ 3,776 $ 290 E-commerce 11,294 834 18,518 1,049 Total $ 13,401 $ 1,190 $ 22,294 $ 1,339

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	May 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of property plant and equipment	The following table summarizes cost and accumulated depreciation as of May 31, 2021 and November 30, 2020, respectively (in thousands). May 31, November 30, Computer equipment and software $ 259 $ 204 Furniture and fixtures 189 105 Leasehold improvements 229 144 Machinery and equipment 1,252 1,324 1,929 1,777 Less: accumulated depreciation 742 557 Total $ 1,187 $ 1,220

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	May 31, 2021
Inventory Disclosure [Abstract]
Schedule of inventory	The following table summarizes inventory as of May 31, 2021 and November 30, 2020, respectively (in thousands). May 31, November 30, Raw materials $ 3,999 $ 2,901 Work in process 159 302 Finished goods 2,449 1,614 Total $ 6,607 $ 4,817

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	May 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of prepaid expenses and other current assets	The following table summarizes prepaid expenses and other current assets as of May 31, 2021 and November 30, 2020, (in thousands): May 31, November 30, VAT receivables $ 562 $ 572 Advance payment for inventory 232 677 Prepaid insurance 245 16 Other 243 126 Total $ 1,282 $ 1,391

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	6 Months Ended
	May 31, 2021
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	The Company’s accounts payable and accrued liabilities consist of the following (in thousands): May 31, 2021 November 30, 2020 Trade payables $ 1,925 $ 3,475 Accrued sales and use tax 853 1,050 Payroll accrual 658 904 Accrued commissions 6 375 Accrued professional fees 227 217 Accrued royalties 122 180 Warranty 213 268 Income taxes payable 350 — Other accrued liabilities 217 160 Total $ 4,571 $ 6,629

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	May 31, 2021
Equity [Abstract]
Schedule of warrants activity	The following table summarizes warrant activity, which includes the incentive warrants, during the six months ended May 31, 2021: Weighted-Average Exercise Number of Price Warrants $ Outstanding at November 30, 2020 585,739 2.40 Granted — — Exercised (486,684 ) 2.50 Outstanding at May 31, 2021 99,055 1.91 Exercisable at May 31, 2021 99,055 1.91

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	May 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of restricted stock unit activity	The following table summarizes the RSU activity during the six months ended May 31, 2021: RSUs Unvested and outstanding as of November 30, 2020 1,573,500 Granted 174,493 Exercised — Cancelled — Unvested and outstanding at May 31, 2021 1,747,993
Schedule of stock options valuation assumptions	The assumptions that the Company used to determine the grant-date fair value of stock options granted to employees and non-employees for the six months ended May 31, 2021 were as follows: Black-Scholes option pricing model Risk free rate 0.33 % Expected dividends 0.00 Expected volatility 83 – 113 % Expected life 4 – 5 years Market price of the Company’s common stock on date of grant $ 14.74 – 19.70 Exercise price $ 14.90 – 17.00
Schedule of stock options activity	The following table summarizes option activity under the 2017 and 2020 Plan during the six months ended May 31, 2021: Stock Weighted-Average Options CDN$ USD$ Outstanding, November 30, 2020 (1) 705,967 2.40 3.10 Granted 41,000 18.90 15.60 Exercised (22,667 ) (1.90 ) (1.50 ) Forfeited (82,250 ) (5.10 ) (4.20 ) Outstanding, May 31, 2021 (2) 642,050 3.60 3.00 Exercisable, May 31, 2021 (2) 642,050 2.60 2.20 (1) As of November 30, 2020 all options were governed by the 2017 Plan. (2) As of May 31, 2021 all options were governed by the 2020 Plan.

INCOME (LOSS) PER SHARE (Tables

INCOME (LOSS) PER SHARE (Tables)	6 Months Ended
	May 31, 2021
Earnings Per Share [Abstract]
Schedule of anti-dilutive shares	Preferred Stock, warrants, stock options, and RSUs that could potentially dilute basic EPS in the future that were not included in the computation of diluted loss per share were as follows: For the Three Months Ended For the Six Months Ended Series A Preferred Stock 4,636,667 4,636,667 Warrants 2,783,702 2,783,702 Stock Options 672,667 672,667 RSUs — — Total 8,093,036 8,093,036 The following were excluded from the calculation of diluted net income per share for the three and six months ended May 31, 2021 because their effects are anti-dilutive: For the Three Months Ended May 31, 2021 For the Six Months Ended May 31, 2021 Antidilutive securities: Options 638,000 518,000 RSUs 50,000 68,493 Total antidilutive securities 688,000 586,493
Schedule of allocation of net income (loss)	The following table sets forth the allocation of net income (loss) for the three and six months ended May 31, 2021 and 2020, respectively: For the Three Months Ended For the Six Months Ended 2021 2020 2021 2020 Net income (loss) $ 2,037 $ (8,061 ) $ 1,765 $ (10,346 ) Net income applicable to preferred stock (1,043 ) — (1,043 ) — Income available to common shareholders $ 994 $ (8,061 ) $ 722 $ (10,346 )
Schedule of weighted-average common shares outstanding used in the calculation of basic and diluted EPS	The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three and six months ended May 31, 2021 and 2020: For the Three Months Ended For the Six Months Ended 2021 2020 2021 2020 Weighted-average common shares outstanding- basic 17,800,749 12,068,759 16,359,496 11,271,719 Assumed conversion of: Dilutive Stock Options 597,214 — 600,918 — Dilutive Warrants 304,883 — 399,332 — Dilutive RSUs 286,385 — 244,385 — Weighted-average common share outstanding- diluted 18,989,231 12,068,759 17,604,131 11,271,719

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	May 31, 2021
Leases [Abstract]
Schedule of lease expense	The elements of lease expense were as follows (in thousands): Three Months Ended Six Months Ended May 31, 2021 May 31, 2021 Lease Cost: Operating lease cost $ 87 $ 179 Short-term lease cost 5 5 Variable lease cost — — Total lease cost $ 92 $ 184 Other Information: Cash paid for amounts included in the measurement of operating lease liabilities $ 156 Operating lease liabilities arising from obtaining right-of-use assets $ 182 Operating Leases: Weighted-average remaining lease term (in years) 4.7 years Weighted-average discount rate 9.3 %
Schedule of future lease payments under non-cancelable operating leases	Future lease payments under non-cancelable operating leases as of May 31, 2021 are as follows (in thousands): Fiscal Year Ending November 30 2021 (six months) $ 161 2022 315 2023 282 2024 290 2025 187 Thereafter 157 Total lease payments 1,392 Less: imputed interest 255 Total lease liabilities $ 1,137
Schedule of sales-type leases	The receivable recorded as a result of the lease is collateralized by the underlying equipment and consist of the following components at May 31, 2021 (in thousands): Net minimum lease payments to be received $ 121 Less: unearned interest income portion 14 Net investment in sales-type leases 107 Less: current portion 44 Net investment in sales-type leases, non-current $ 63
Schedule of future minimum lease payments under sales-type leases	The maturity schedule of future minimum lease payments under sales-type leases and the reconciliation to the net investment in sales-type leases reported at May 31, 2021 was as follows (in thousands): Fiscal Year Ending November 30, 2021 (six months) $ 27 2022 54 2023 40 Total future minimum sales-type lease payments 121 Less: unearned income 14 Total net investment in sales-type leases $ 107

SEGMENT AND GEOGRAPHICAL DISC_2

SEGMENT AND GEOGRAPHICAL DISCLOSURES (Tables)	6 Months Ended
	May 31, 2021
Segment Reporting [Abstract]
Schedule of revenue by geographic region	The tables below summarize the Company’s revenue for the three and six months ended May 31, 2021 and 2020, respectively, by geographic region (in thousands). Revenue: Three Months Ended U.S. South Africa Total May 31, 2021 $ 12,868 $ 533 $ 13,401 May 31, 2020 1,077 113 1,190 Six Months Ended U.S. South Africa Total May 31, 2021 $ 21,325 $ 969 $ 22,294 May 31, 2020 1,321 18 1,339

OPERATIONS AND MANAGEMENT PLA_2

OPERATIONS AND MANAGEMENT PLANS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Jan. 19, 2021	Nov. 30, 2020
Cumulative loss	$ (48,450)		$ (48,450)			$ (50,215)
Revenue	13,401	$ 1,190	22,294	$ 1,339
Income from operations	$ 2,023	$ (853)	1,612	$ (2,477)
Increase (decrease) in sales			21,000
Increase (decrease) in cash			1,200
Increase (decrease) in restricted cash			$ (5,500)
Revolving Credit Facility [Member]
Line of credit amount					$ 5,000
Revolving Credit Facility [Member]
Line of credit amount					$ 1,500

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	May 12, 2021	May 31, 2021	Nov. 30, 2020
Asset Acquisition [Line Items]
Inventory		$ 6,607	$ 4,817
Property and equipment		1,187	1,220
Intangible assets		$ 3,626	$ 811
Kore [Member]
Asset Acquisition [Line Items]
Accounts receivable	$ 465
Prepaid expenses	165
Inventory	82
Property and equipment	180
Intangible assets	2,810
Total acquired assets	$ 3,702

ACQUISITIONS (Details 1)

ACQUISITIONS (Details 1) - USD ($) $ in Thousands	May 31, 2021	Nov. 30, 2020	May 05, 2020
Business Acquisition [Line Items]
Goodwill	$ 651	$ 651
Roboro [Member]
Business Acquisition [Line Items]
Property and equipment			$ 67
Goodwill			651
Right-of-use asset, net			54
Loan payable			(123)
Operating lease liability, current			(35)
Operating lease liability, noncurrent			(19)
Other net asset (liabilities)			(38)
Net Assets			$ 557

ACQUISITIONS (Details Narrative

ACQUISITIONS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	May 12, 2021	May 05, 2020	May 31, 2020	May 31, 2020
Business Acquisition [Line Items]
Subscription agreements, total amount			$ 556	$ 556
Roboro [Member]
Business Acquisition [Line Items]
Percentage of interest acquired		100.00%
Fair value of consideration		$ 600
Consideration paid in cash		$ 500
Stock closing price		$ 4
Fair market value of common stock		$ 600
Transaction costs		$ 2
Roboro [Member] | Subscription Agreements [Member]
Business Acquisition [Line Items]
Number of shares acquired		138,889
Business acquisition, share price		$ 3.60
Subscription agreements, total amount		$ 500
Kore [Member]
Business Acquisition [Line Items]
Asset acquisition cost	$ 3,702
Asset acquisition-related expenses	$ 200

REVERSE STOCK SPLIT (Details Na

REVERSE STOCK SPLIT (Details Narrative)	Apr. 27, 2021	May 31, 2021$ / shares	Nov. 30, 2020$ / shares
Reverse Stock Split [Abstract]
Reverse stock split	1-for-10
Stock split ratio	0.10
Common stock, par value per share		$ 0.001	$ 0.001

RESTRICTED CASH (Details Narrat

RESTRICTED CASH (Details Narrative) - USD ($) $ in Thousands	May 31, 2021	Nov. 30, 2020
Restricted Cash [Abstract]
Restricted cash - current	$ 862	$ 6,389
Long-term restricted cash	$ 92	$ 92

REVENUE, DEFERRED REVENUE AND_3

REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	May 31, 2021	Nov. 30, 2020
Revenue, Deferred Revenue And Accounts Receivable [Abstract]
Deferred revenue balance, beginning of period	$ 4,902	$ 11
Net additions to deferred revenue during the period	18,100	18,826
Reductions in deferred revenue for revenue recognized during the period	(21,327)	(13,935)
Deferred revenue balance, end of period	$ 1,675	$ 4,902

REVENUE, DEFERRED REVENUE AND_4

REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 13,401	$ 1,190	$ 22,294	$ 1,339
Wholesale (Dealer/Distributors and Large End-Users) [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,107	356	3,776	290
E-commerce [Member]
Disaggregation of Revenue [Line Items]
Revenues	11,294	834	18,518	1,049
Byrna HD [Member]
Disaggregation of Revenue [Line Items]
Revenues	13,356	1,100	22,249	1,227
40mm [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 45	$ 90	$ 45	$ 112

REVENUE, DEFERRED REVENUE AND_5

REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Feb. 28, 2021	Nov. 30, 2020
Disaggregation of Revenue [Line Items]
Product liability					$ 200
Product liability incurred	$ 60
Commissions	0	$ 10	$ 300	$ 10
Allowance for doubtful accounts	10		$ 10			$ 10
Service warranties term			3 years	3 years
Description of standard product warranty			Products purchased include a standard warranty that cannot be purchased separately. This allows customers to return defective products for repair or replacement within one year of sale.
Description of extended product warranty			The Company also sells an extended warranty for the same terms over three years. The extended 3-year warranty can be purchased separately from the product and therefore, must be classified as a service warranty. Since a warranty for the first year after sale is included and non-separable from all launcher purchases, the Company considers this extended warranty to represent a service obligation during the second and third years after sale.
Shipping and Handling [Member]
Disaggregation of Revenue [Line Items]
Selling, general and administrative expense	$ 600	$ 3	$ 1,300	$ 10

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	May 31, 2021	Nov. 30, 2020
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,929	$ 1,777
Less: accumulated depreciation	742	557
Total	1,187	1,220
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	259	204
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	189	105
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	229	144
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,252	$ 1,324

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Nov. 30, 2020
Depreciation expense	$ 100	$ 10	$ 217	$ 77
Deposit for equipment	678		678		$ 619
Sales-type lease net book value	100		100
Machinery and Equipment [Member]
Deposit for equipment	$ 700		$ 700		$ 600
Machinery and Equipment [Member] | Minimum [Member]
Useful lives			P3Y
Machinery and Equipment [Member] | Maximum [Member]
Useful lives			P7Y
Computer Equipment and Software [Member] | Minimum [Member]
Useful lives			P3Y
Computer Equipment and Software [Member] | Maximum [Member]
Useful lives			P7Y
Furniture and Fixtures [Member] | Minimum [Member]
Useful lives			P3Y
Furniture and Fixtures [Member] | Maximum [Member]
Useful lives			P7Y
Leasehold Improvements [Member] | Minimum [Member]
Useful lives			P3Y
Leasehold Improvements [Member] | Maximum [Member]
Useful lives			P7Y

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	May 31, 2021	Nov. 30, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 3,999	$ 2,901
Work in process	159	302
Finished goods	2,449	1,614
Total	$ 6,607	$ 4,817

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	May 31, 2021	Nov. 30, 2020
Prepaid Expense and Other Assets, Current [Abstract]
VAT receivables	$ 562	$ 572
Advance payment for inventory	232	677
Prepaid insurance	245	16
Other	243	126
Total	$ 1,282	$ 1,391

PATENT RIGHTS (Details Narrativ

PATENT RIGHTS (Details Narrative) - USD ($) $ in Thousands	May 12, 2021	Apr. 13, 2018	Dec. 18, 2019	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Finite-Lived Intangible Assets [Line Items]
Purchase of patents						$ 37	$ 80
Value of common stock issued in exchange for Patent Rights							697
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of patent rights				$ 10	$ 20	$ 30	$ 30
Purchase and Sale Agreement (Agreement) with Andre Buys [Member]
Finite-Lived Intangible Assets [Line Items]
Amount for consideration portfolio		$ 100
Legal costs to transfer patent rights		10
Purchase of patents		$ 100
Term For second payment		2 years
Purchase and Sale Agreement (Agreement) with Andre Buys [Member] | Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Number of common stock issued in exchange for Patent Rights			386,681
Value of common stock issued in exchange for Patent Rights			$ 700
Deferred compensation arrangement with individual share award granted amount			800
Cash Payment			$ 100
Purchase and Sale Agreement (Agreement) with Andre Buys [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life of patents		15 years
Agreed to pay amount for discretion		$ 500
Purchase and Sale Agreement (Agreement) with Andre Buys [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life of patents		20 years
Agreed to pay amount for discretion		$ 800
Kore [Member]
Finite-Lived Intangible Assets [Line Items]
Payment for asset acquisition	$ 3,500
Asset acquisition-related expenses	200
Asset acquisition cost	3,702
Capitalized key patents and intellectual property acquired	$ 2,800
Kore [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life of patents	15 years
Kore [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life of patents	20 years

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	May 31, 2021	Nov. 30, 2020
Payables and Accruals [Abstract]
Trade payables	$ 1,925	$ 3,475
Accrued sales and use tax	853	1,050
Payroll accrual	658	904
Accrued commissions	6	375
Accrued professional fees	227	217
Accrued royalties	122	180
Warranty	213	268
Income taxes payable	350
Other accrued liabilities	217	160
Total	$ 4,571	$ 6,629

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - Paycheck Protection Program [Member] - USD ($) $ in Thousands	Feb. 10, 2021	May 04, 2020
Loan received		$ 200
Loan forgiveness	$ 200

LINES OF CREDIT (Details Narrat

LINES OF CREDIT (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	May 31, 2021	May 31, 2021	Jan. 19, 2021
Debt issuance costs	$ 10	$ 10
Amortization of deferred debt issuance costs	10	9
Revolving Credit Facility [Member]
Lines of credit capacity			$ 5,000
Line of credit	$ 1,500	$ 1,500
Line of credit facility, expiration date		Jan. 19, 2024
Unused fee percent		0.25%
Revolving Credit Facility [Member] | Minimum [Member]
Interest rate	4.00%	4.00%
Revolving Credit Facility [Member] | Prime Rate [Member]
Interest rate spread		0.50%
Revolving Credit Facility [Member]
Lines of credit capacity			$ 1,500
Line of credit facility, expiration date		Jan. 19, 2024
Unused fee percent		0.25%
Revolving Credit Facility [Member] | Minimum [Member]
Interest rate	4.00%	4.00%
Revolving Credit Facility [Member] | Prime Rate [Member]
Interest rate spread		0.50%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details)	6 Months Ended
	May 31, 2021$ / sharesshares
Equity [Abstract]
Warrants outstanding, beginning of period | shares	585,739
Warrants exercised | shares	(486,684)
Warrants outstanding, end of period | shares	99,055
Warrants exercisable, end of period | shares	99,055
Warrants outstanding, beginning of period, weighted average exercise price | $ / shares	$ 2.40
Warrants exercised, weighted average exercise price | $ / shares	2.50
Warrants outstanding, end of period, weighted average exercise price | $ / shares	1.91
Warrants exercisable, end of period, weighted average exercise price | $ / shares	$ 1.91

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Apr. 15, 2021	Apr. 09, 2021	Apr. 08, 2020	Mar. 31, 2020	Feb. 29, 2020	Jan. 31, 2020	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Nov. 30, 2020
Conversion price			$ 1.50
Number of shares converted (in shares)			3,333
Value of converted shares			$ 5
Number of series A preferred stock converted to common stock	4,636,649
Preferred stock, par value per share							$ 0.001		$ 0.001		$ 0.001
Number of shares issued upon conversion	695,498
Warrant exercises							$ 1,083	$ 4,022	$ 1,217	$ 4,022
Number of warrants issued to consultant for marketing services									15,000
Exercise price of warrants							$ 2.50		$ 2.50
Warrant inducement expense								845		845
Convertible Noteholders [Member]
Debt Instrument, Face Amount								$ 100		$ 100
Warrants granted						49,842				49,842
Accrued interest satisfied by issuance of warrants						$ 100				$ 100
Exercise price of warrants								$ 2.50		$ 2.50
Warrants issued to note holders for every $1,000 of accrued interest										400
Series A Preferred Stock [Member]
Conversion price			$ 1.50
Common Stock [Member]
Market price			$ 2.50
Warrant exercises								$ 2		$ 2
Warrant exercises (in shares)							433,265	2,009,703	486,684	2,009,703
Warrant [Member]
Number of shares issued				1,997,911			433,265		486,684	11,792
Warrant exercises				$ 3,200			$ 1,000		$ 1,200	$ 20
Warrant exercises (in shares)				1,997,911			433,265		486,684	11,792
Warrants granted					15,000
Exercise price of warrants				$ 1.60			$ 2.50	$ 1.80	$ 2.50	$ 1.80
Warrant inducement expense				$ 800
Series A Preferred Stock [Member]
Number of shares issued			1,391
Value of shares issued			$ 11,600
Issue costs			$ 29
Fair value per share			$ 8,000
Debt Instrument, Face Amount			$ 7,000
Dividend payable		$ 1,000
Dividend declared (in dollars per share)		$ 750
Preferred stock, par value per share		$ 0.001
Dividend record date		Apr. 12, 2021
Series A Preferred Stock [Member]
Share issue price			$ 5,000
Percentage of dividend accured			10.00%

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - RSUs [Member]	6 Months Ended
	May 31, 2021shares
Unvested and outstanding as of November 30, 2020	15,735,000
Granted	174,493
Unvested and outstanding at May 31, 2021	1,747,993

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 1) - Employees And Directors And Non Employees [Member]	6 Months Ended
	May 31, 2021$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free rate	0.33%
Expected dividends	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	83.00%
Expected life	4 years
Market price of the Company's common stock on date of grant	$ 14.74
Exercise price	$ 14.90
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	113.00%
Expected life	5 years
Market price of the Company's common stock on date of grant	$ 19.70
Exercise price	$ 17

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details 2)		6 Months Ended
		May 31, 2021$ / sharesshares	May 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning | shares	[1]	705,967	705,967
Granted | shares		41,000	41,000
Exercised | shares		(22,667)	(22,667)
Forfeited | shares		(82,250)	(82,250)
Outstanding, ending | shares	[2]	642,050	642,050
Exercisable, ending | shares	[2]	642,050	642,050
CAD [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted Average Exercise Price, Outstanding, Beginning Balance	[1]		$ 2.40
Weighted Average Exercise Price, Granted			18.90
Weighted Average Exercise Price, Exercised			(1.90)
Weighted Average Exercise Price, Forfeited			(5.10)
Weighted Average Exercise Price, Outstanding, Ending Balance	[2]		3.60
Weighted Average Exercise Price, Exercisable	[2]		$ 2.60
USD [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted Average Exercise Price, Outstanding, Beginning Balance	[1]	$ 3.10
Weighted Average Exercise Price, Granted		15.60
Weighted Average Exercise Price, Exercised		(1.50)
Weighted Average Exercise Price, Forfeited		(4.20)
Weighted Average Exercise Price, Outstanding, Ending Balance	[2]	3
Weighted Average Exercise Price, Exercisable	[2]	$ 2.20
[1]	As of November 30, 2020 all options were governed by the 2017 Plan.
[2]	As of May 31, 2021 all options were governed by the 2020 Plan.

STOCK-BASED COMPENSATION (Det_4

STOCK-BASED COMPENSATION (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Nov. 30, 2020	Oct. 23, 2020
Number of options granted			41,000
Stock-based compensation expense	$ 800	$ 10	$ 1,546	$ 648
Marketing Consultant [Member] | Incentive Warrants [Member]
Stock-based compensation expense	$ 0	0	$ 0	$ 20
Number of warrants issued			0	15,000
RSUs [Member]
Number of units outstanding	1,747,993		1,747,993		15,735,000
Number of units granted			174,493
2017 Stock Option Plan (2017 Plan) [Member]
Number of shares reserved for issuance	1,899,327		1,899,327
2017 Stock Option Plan (2017 Plan) [Member] | Employees and Directors [Member]
Number of options granted				391,750
Stock-based compensation expense		10		$ 600
2017 Stock Option Plan (2017 Plan) [Member] | Non Employees [Member]
Number of options granted				11,000
Stock-based compensation expense		20		$ 20
2020 Equity Incentive Plan (2020 Plan) [Member]
Number of shares reserved for issuance						25,000,000
2020 Equity Incentive Plan (2020 Plan) [Member] | Employees and Directors [Member]
Number of options granted			29,000
Options vest over period terms			3 years
Stock-based compensation expense	$ 90		$ 170
Number of options forfeited	66,000		82,250
Number of options forfeited, value	$ 60		$ 93
2020 Equity Incentive Plan (2020 Plan) [Member] | Non Employees [Member]
Number of options granted			0
Stock-based compensation expense	20		$ 20
2020 Equity Incentive Plan (2020 Plan) [Member] | RSUs [Member]
Stock-based compensation expense	$ 700	$ 0	$ 1,400	$ 0
Number of units granted	174,493	0	174,493	0
2020 Equity Incentive Plan (2020 Plan) [Member] | RSUs [Member] | Non Employees [Member]
Stock-based compensation expense	$ 70	$ 0	$ 70	$ 0
2020 Equity Incentive Plan (2020 Plan) [Member] | RSUs [Member] | Double Trigger Vesting [Member]
Description of vesting			(1) one-third of the RSUs are not subject to any market trigger, the second one-third of the RSUs will be triggered when the Company’s stock trades above $30.00 on a 20-day VWAP, and the final one-third of the RSUs will be triggered when the stock trades above $40.00 on a 20-day VWAP and (2) the employee must remain employed by the Company for three years from the effective date for the RSUs to vest.
Number of units granted			159,000
2020 Equity Incentive Plan (2020 Plan) [Member] | RSUs [Member] | Time Trigger Vesting [Member]
Number of units outstanding					300,000
Number of units granted			15,493
Vesting period			1 year

INCOME (LOSS) PER SHARE (Detail

INCOME (LOSS) PER SHARE (Details) - shares	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	688,000	8,093,036	586,493	8,093,036
Series A Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		4,636,667		4,636,667
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		2,783,702		2,783,702
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	638,000	672,667	518,000	672,667
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	50,000		68,493

INCOME (LOSS) PER SHARE (Deta_2

INCOME (LOSS) PER SHARE (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 2,037	$ (8,061)	$ 1,765	$ (10,346)
Net income applicable to preferred stock	(1,043)		(1,043)
Income available to common shareholders	$ 994	$ (8,061)	$ 722	$ (10,346)

INCOME (LOSS) PER SHARE (Deta_3

INCOME (LOSS) PER SHARE (Details 2) - shares	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Earnings Per Share [Abstract]
Weight-average common shares outstanding- basic	17,800,749	12,068,759	16,359,496	11,271,719
Assumed conversion of:
Dilutive Stock Options	597,214		600,918
Dilutive Warrants	304,883		399,332
Dilutive RSUs	286,385		244,385
Weighted-average common share outstanding- diluted	18,989,231	12,068,759	17,604,131	11,271,719

INCOME (LOSS) PER SHARE (Deta_4

INCOME (LOSS) PER SHARE (Details Narrative) - shares	3 Months Ended	6 Months Ended
	May 31, 2021	May 31, 2021
Earnings Per Share [Abstract]
Contingently issuable shares	1,155,000	1,155,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020	Nov. 30, 2018	Nov. 30, 2020
Related Party Transaction [Line Items]
Number of stock options granted			41,000
Stock Issued During Period, Value, Purchase of Assets				$ 697
Value of common stock issued for services				118
Andre Buys [Member]
Related Party Transaction [Line Items]
Payments for royalties			$ 200	1
Accrued royalties payable	$ 100		100			$ 300
Number of stock options granted					150,000
Stock-based compensation expense	$ 2	$ 4	6	8
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Monthly rent, utilities and maintenance charge			$ 2
Related party transaction, amounts of expenses		$ 10		$ 20
Patents [Member] | Andre Buys [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, Purchase of Assets			386,681
Stock Issued During Period, Value, Purchase of Assets			$ 700

LEASES (Details)

LEASES (Details) $ in Thousands	3 Months Ended	6 Months Ended
	May 31, 2021USD ($)	May 31, 2021USD ($)
Lease Cost:
Operating lease cost	$ 87	$ 179
Short-term lease cost	5	5
Total lease cost	$ 92	184
Other Information:
Cash paid for amounts included in the measurement of operating lease liabilities		156
Operating lease liabilities arising from obtaining right-of-use assets		$ 182
Operating Leases, Weighted average remaining lease term (in years)	4 years 8 months 12 days	4 years 8 months 12 days
Operating Leases, Weighted average discount rate	9.30%	9.30%

LEASES (Details 1)

LEASES (Details 1) $ in Thousands	May 31, 2021USD ($)
Leases [Abstract]
2021 (six months)	$ 161
2022	315
2023	282
2024	290
2025	187
Thereafter	157
Total lease payments	1,392
Less: imputed interest	255
Operating Lease, Liability, Total	$ 1,137

LEASES (Details 2)

LEASES (Details 2) $ in Thousands	May 31, 2021USD ($)
Leases [Abstract]
Net minimum lease payments to be received	$ 121
Less: unearned interest income portion	14
Net investment in sales-type leases	107
Less: current portion	44
Net investment in sales-type leases, non-current	$ 63

LEASES (Details 3)

LEASES (Details 3) $ in Thousands	May 31, 2021USD ($)
Leases [Abstract]
2021 (six months)	$ 27
2022	54
2023	40
Total future minimum sales-type lease payments	121
Less: unearned income	14
Total net investment in sales-type leases	$ 107

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($) $ in Thousands	Nov. 30, 2020	May 31, 2021
Operating lease, right-of-use asset	$ 1,200	$ 1,224
Operating lease, liability, current	257	232
Operating lease, liability, noncurrent	828	$ 905
Sales-type lease term		3 years
Sales-type lease unguaranteed residual asset		$ 0
Wilmington/Andover, Massachusetts [Member]
Allowance for tenant improvements		200
Base rent		$ 100
Lease expiration date		Aug. 31, 2026
South Africa [Member]
Base rent	$ 4	$ 5
Lease expiration date		Nov. 30, 2024
Fort Wayne, Indiana [Member] | Lease Termination Agreement [Member]
Lease expiration date		Feb. 28, 2022
Termination fee		$ 20
Fort Wayne, Indiana [Member]
Base rent		$ 8
Lease expiration date		Jul. 31, 2025
Las Vegas, Nevada [Member]
Base rent		$ 4
Lease expiration date		Aug. 31, 2022

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 183	$ 0	$ 183	$ 0
Effective tax rate	8.20%	0.00%	9.40%	0.00%
Statutory tax rate			21.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) $ in Thousands	3 Months Ended	6 Months Ended
	May 31, 2021USD ($)	May 31, 2021USD ($)$ / Unit	Feb. 28, 2021USD ($)
Other Commitments [Line Items]
Product liability			$ 200
Product liability incurred	$ 60
CO2 Pistols [Member]
Other Commitments [Line Items]
Initial royalty percentage of net price		2.50%
Net price per unit | $ / Unit		167.60
Reduction in royalty percentage per year		0.10%
Minimum royalty percentage		1.00%
Initial royalty percentage for new products in category		2.50%
Fintail Projectiles [Member]
Other Commitments [Line Items]
Royalty percentage of net price		4.00%
Andre Buys [Member]
Other Commitments [Line Items]
Royalty commitment per year	$ 25	$ 25

EXCLUSIVE SUPPLY AND PURCHASE_2

EXCLUSIVE SUPPLY AND PURCHASE AGREEMENTS (Details Narrative) - Bip Manufacturer [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Term of agreement			4 years
Additional term of agreement			1 year
Purchases from manufacturer	$ 0	$ 60	$ 0	$ 70

SEGMENT AND GEOGRAPHICAL DISC_3

SEGMENT AND GEOGRAPHICAL DISCLOSURES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Revenue	$ 13,401	$ 1,190	$ 22,294	$ 1,339
US [Member]
Revenue	12,868	1,077	21,325	1,321
South Africa [Member]
Revenue	$ 533	$ 113	$ 969	$ 18

FINANCIAL INSTRUMENTS (Details

FINANCIAL INSTRUMENTS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
Investments, All Other Investments [Abstract]
Foreign exchange translation adjustment for the year	$ 120	$ 132	$ 178	$ 96
Percentage of fluctuation in the US exchange rate			10.00%