Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Nov. 30, 2021 | Feb. 01, 2022 | May 28, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001354866 | ||
Entity Registrant Name | Byrna Technologies Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --11-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Nov. 30, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 333-132456 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 71-1050654 | ||
Entity Address, Address Line One | 100 Burtt Road, Suite 115 | ||
Entity Address, City or Town | Andover | ||
Entity Address, State or Province | MA | ||
Entity Address, Postal Zip Code | 01810 | ||
City Area Code | 978 | ||
Local Phone Number | 868-5011 | ||
Title of 12(b) Security | Common stock, $0.001, par value per share | ||
Trading Symbol | BYRN | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | Yes | ||
Entity Current Reporting Status | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 496,644,504 | ||
Entity Common Stock, Shares Outstanding | 23,815,418 | ||
Auditor Name | EISNERAMPER LLP | ||
Auditor Location | New York, New York | ||
Auditor Firm ID | 274 | ||
ICFR Auditor Attestation Flag | true |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 56,308 | $ 3,175 |
Restricted cash | 92 | 6,389 |
Accounts receivable, net | 1,658 | 834 |
Inventory, net | 6,613 | 4,817 |
Prepaid expenses and other current assets | 1,490 | 1,391 |
Total current assets | 66,161 | 16,606 |
Patent rights, net | 3,668 | 811 |
Deposits for equipment | 1,293 | 619 |
Right-of-use-asset, net | 1,086 | 1,200 |
Property and equipment, net | 1,972 | 1,220 |
Goodwill | 816 | 651 |
Restricted cash | 0 | 92 |
Other assets | 318 | 17 |
TOTAL ASSETS | 75,314 | 21,216 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 6,996 | 6,629 |
Operating lease liabilities, current | 463 | 257 |
Deferred revenue | 720 | 4,843 |
Notes payable, current | 0 | 76 |
Total current liabilities | 8,179 | 11,805 |
Notes payable, non-current | 0 | 115 |
Deferred revenue, non-current | 405 | 59 |
Operating lease liabilities, non-current | 632 | 828 |
Total Liabilities | 9,216 | 12,807 |
COMMITMENTS AND CONTINGENCIES (NOTE 20) | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued | 0 | 0 |
Common stock, $0.001 par value 300,000,000 shares authorized, 23,754,096 and 14,852,023 shares issued and outstanding, respectively | 23 | 15 |
Additional paid-in capital | 119,589 | 58,581 |
Accumulated deficit | (53,498) | (50,215) |
Accumulated other comprehensive (loss) income | (16) | 28 |
Total Stockholders’ Equity | 66,098 | 8,409 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 75,314 | 21,216 |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued | $ 0 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Nov. 30, 2021 | Nov. 30, 2020 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 23,754,096 | 14,852,023 |
Common stock, shares outstanding (in shares) | 23,754,096 | 14,852,023 |
Series A Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 1,500 | 1,500 |
Preferred stock, shares issued (in shares) | 0 | 1,391 |
Preferred stock, shares outstanding (in shares) | 0 | 1,391 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Net revenue | $ 42,160 | $ 16,566 |
Cost of goods sold | (19,270) | (9,058) |
Gross profit | 22,890 | 7,508 |
Operating expenses | 26,181 | 11,817 |
LOSS FROM OPERATIONS | (3,291) | (4,309) |
OTHER INCOME (EXPENSE) | ||
Foreign currency transaction loss | (210) | (91) |
Accretion of debt discounts | 0 | (755) |
Interest expense | (34) | (233) |
Loss on extinguishment of debt | 0 | (6,027) |
Warrant inducement expense | 0 | (845) |
Forgiveness of Paycheck Protection Program loan | 190 | 0 |
Other expense | (98) | 0 |
LOSS BEFORE INCOME TAXES | (3,443) | (12,260) |
Income tax (benefit) provision | (160) | 293 |
NET LOSS | (3,283) | (12,553) |
Dividends on preferred stock | 1,043 | 0 |
NET LOSS AVAILABLE TO COMMON SHAREHOLDERS | (4,326) | (12,553) |
Foreign exchange translation adjustment | (44) | 66 |
COMPREHENSIVE LOSS | $ (3,327) | $ (12,487) |
Net loss per share – basic and diluted (in dollars per share) | $ 0.22 | $ 0.98 |
Weighted-average number of common shares outstanding during the year – basic and diluted (in shares) | 19,610,039 | 12,678,747 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (3,283) | $ (12,553) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Stock-based compensation expense | 1,252 | |
Forgiveness of Paycheck Protection Program loan | (190) | 0 |
Accretion of debt discounts | 0 | 755 |
Loss on extinguishment of debt | 0 | 6,027 |
Warrant inducement | 0 | 845 |
Inventory provision | 0 | 554 |
Issuance of common shares for services | 0 | 430 |
Issuance of warrants for payment of accrued interest | 125 | |
Amortization of debt issuance costs | 23 | 0 |
Operating lease costs | 139 | |
Depreciation and amortization | 300 | 242 |
Changes in assets and liabilities, net of acquisition: | ||
Accounts receivable | (433) | |
Deferred revenue | 4,891 | |
Inventory | (4,491) | |
Prepaid expenses and other current asserts | (1,023) | |
Other assets | (17) | |
Accounts payable and accrued liabilities | 6,046 | |
Operating lease liabilities | (251) | |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 2,538 | |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of patent rights | (138) | (80) |
Cash paid for acquisitions, net of cash acquired | (4,044) | (489) |
Purchases of property and equipment | (1,426) | |
NET CASH USED IN INVESTING ACTIVITIES | (1,995) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from warrant exercises | 7,225 | |
Proceeds from stock option exercises | 10 | |
Proceeds from sale of common stock, net of underwriting discounts and offering costs | 55,952 | 0 |
Payment of debt issuance costs | (81) | 0 |
Proceeds from Roboro sellers for common stock | 500 | |
Proceeds from Paycheck Protection Program loan | 0 | 190 |
Proceeds from line of credit | 1,500 | 0 |
Payments to line of credit | (1,500) | 0 |
Payment of cash for stock to be issued | 0 | (20) |
Repayment of notes payable | (137) | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 57,252 | 7,768 |
Effects of foreign currency exchange rate changes | (189) | 171 |
NET INCREASE IN CASH AND RESTRICTED CASH FOR THE YEAR | 46,744 | 8,482 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR | 9,656 | 1,174 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR | 56,400 | 9,656 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
INCOME TAXES PAID | 337 | 0 |
INTEREST PAID | 40 | 988 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Issuance of common stock for intellectual property | 693 | |
Issuance of common stock for services | 429 | |
Dividends declared on preferred stock | (1,043) | |
Conversion of Preferred Stock and Accrued Dividends into Common Stock [Member] | ||
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Conversion of preferred shares and preferred stock dividends to common stock | 1,043 | |
Convertible Notes Payable Converted into Series A Preferred Stock [Member] | ||
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Conversion of convertible notes | 11,562 | |
Convertible Notes Payable Converted into Warrants [Member] | ||
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Conversion of convertible notes | $ 240 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Preferred Stock [Member]Series A Preferred Stock [Member] | Common Stock [Member] | Shares to Be Issued [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Nov. 30, 2019 | 0 | 10,402,184 | ||||||
Balance at Nov. 30, 2019 | $ 0 | $ 10 | $ 20 | $ (888) | $ 36,577 | $ (37,662) | $ (38) | $ (1,981) |
Issuance of common stock pursuant to exercise of stock options (in shares) | 0 | 5,500 | 5,500 | |||||
Issuance of common stock pursuant to exercise of stock options | $ 0 | $ 0 | 0 | 10 | 0 | 0 | $ 10 | |
Issuance of common stock for services (in shares) | 0 | 87,783 | ||||||
Issuance of common stock for services | $ 0 | $ 0 | 0 | 0 | 429 | 0 | 0 | 429 |
Issuance of common stock for intellectual property (in shares) | 0 | 386,681 | ||||||
Issuance of common stock for intellectual property | $ 0 | $ 0 | 0 | 0 | 693 | 0 | 0 | 693 |
Issuance of common stock – Roboro acquisition (in shares) | 0 | 138,889 | ||||||
Issuance of common stock – Roboro acquisition | $ 0 | $ 0 | 0 | 0 | 554 | 0 | 0 | 554 |
Issuance of warrants upon conversion of the convertible notes | $ 0 | $ 0 | 0 | 0 | 240 | 0 | 0 | 240 |
Issuance of Series A preferred stock upon conversion of the convertible notes (in shares) | 1,391 | 0 | ||||||
Issuance of Series A preferred stock upon conversion of the convertible notes | $ 0 | $ 0 | 0 | 0 | 11,562 | 0 | 0 | 11,562 |
Issuance of warrants for payment of accrued interest | 0 | 0 | 0 | 0 | 125 | 0 | 0 | 125 |
Stock—based compensation | $ 0 | $ 0 | 0 | 0 | 1,252 | 0 | 0 | 1,252 |
Cancellation of shares (in shares) | 0 | (370,000) | ||||||
Cancellation of shares | $ 0 | $ 0 | 0 | 888 | (884) | 0 | 0 | 4 |
Stock to be issued settled in cash | $ 0 | $ 0 | (20) | 0 | 0 | 0 | 0 | (20) |
Warrant exercises (in shares) | 0 | 4,200,986 | ||||||
Warrant exercises | $ 0 | $ 5 | 0 | 0 | 8,023 | 0 | 0 | 8,028 |
Net income (loss) | 0 | 0 | 0 | 0 | 0 | (12,553) | 0 | (12,553) |
Foreign exchange translation adjustment | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 66 | 66 |
Balance (in shares) at Nov. 30, 2020 | 1,391 | 14,852,023 | ||||||
Balance at Nov. 30, 2020 | $ 0 | $ 15 | 0 | 0 | 58,581 | (50,215) | 28 | $ 8,409 |
Issuance of common stock pursuant to exercise of stock options (in shares) | 81,182 | |||||||
Issuance of common stock pursuant to exercise of stock options | $ 0 | $ 0 | 0 | 0 | 104 | 0 | 0 | $ 104 |
Issuance of Series A preferred stock upon conversion of the convertible notes (in shares) | (1,391) | 5,332,147 | ||||||
Issuance of Series A preferred stock upon conversion of the convertible notes | $ 0 | $ 5 | 0 | 0 | 1,038 | 0 | 0 | 1,043 |
Stock—based compensation | 0 | 0 | 0 | 0 | 3,150 | 0 | 0 | 3,150 |
Warrant exercises | 0 | 0 | 0 | 0 | 1,277 | 0 | 0 | 1,277 |
Net income (loss) | 0 | 0 | 0 | 0 | 0 | (3,283) | 0 | (3,283) |
Foreign exchange translation adjustment | $ 0 | $ 0 | 0 | 0 | 0 | 0 | (44) | (44) |
Issuance of common stock pursuant to exercise of restricted stock units (in shares) | 0 | 35,000 | ||||||
Issuance of common stock pursuant to exercise of restricted stock units | $ 0 | $ 0 | 0 | 0 | 533 | 0 | 0 | 533 |
Dividends declared on preferred stock | $ 0 | $ 0 | 0 | 0 | (1,043) | 0 | 0 | (1,043) |
Sale of common stock, net of underwriting discount and offering costs (in shares) | 0 | 2,875,000 | ||||||
Sale of common stock, net of underwriting discount and offering costs | $ 0 | $ 3 | 0 | 0 | 55,949 | 0 | 0 | 55,952 |
Balance (in shares) at Nov. 30, 2021 | 0 | 23,754,096 | ||||||
Balance at Nov. 30, 2021 | $ 0 | $ 23 | $ 0 | $ 0 | $ 119,589 | $ (53,498) | $ (16) | $ 66,098 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. NATURE OF OPERATIONS 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 CO2 .68 The Company was incorporated under the laws of the state of Delaware on March 1, 2005. May 5, 2020, May 12, 2021, 5, August 18, 2021, 5, |
Note 2 - Operations and Managem
Note 2 - Operations and Management Plans | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Operations and Management Plans Disclosure [Text Block] | 2. OPERATIONS AND MANAGEMENT PLANS From inception to November 30, 2021, November 30, 2021. On January 19, 2021, In July 2021, 14, one |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 3. BASIS OF PRESENTATION These consolidated financial statements for the years ended November 30, 2021 2020 November 30, 2021. |
Note 4 - Summary of Significant
Note 4 - Summary of Significant Accounting Policies | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a) 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 b) Business Combinations Assets and liabilities acquired in a business combination are accounted for at fair value. The Company records the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values at the acquisition dates. The excess, if any, of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. If the fair value of the assets and liabilities acquired exceed the fair value of the purchase consideration, negative goodwill is recognized in the statement of operations. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may Goodwill resulting from a business combination is not may not not, not The Company performs its review for impairment during the third one August 31, 2021, c) Asset Acquisition Acquisitions of the assets of a business are accounted for at cost based on their allocated fair value. The Company allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values at the acquisition dates. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may not d) Cash and Cash Equivalents Cash and cash equivalents include bank deposits and short-term, highly liquid investments. Investments acquired with maturity dates of three e) Restricted Cash The Company’s restricted cash – current was $0.1 million and $6.4 million at November 30, 2021 2020, $0.1 November 30, 2021 November 2019 $6.4 November 30, 2020 November 30, 2021 November 30, 2020, f) Allowance for Doubtful Accounts Receivable The Company provides an allowance for its accounts receivable for estimated losses that may may November 30, 2021 2020 g) Inventories Inventories are principally comprised of raw materials and finished goods and are valued at the lower of cost or net realizable value with cost being determined on the first first h) 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 seven three seven i) Patent Rights The perpetual, irrevocable, exclusive and non-exclusive license to use technology with respect to the cost of patent rights is capitalized and amortized over the estimated useful life, currently estimated to be 15 to 17 years. j) Impairment of Long-Lived Assets Long-lived assets to be held and used are analyzed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not not November 30, 2021 2020, k) Convertible Notes Payable When the Company has determined that the embedded conversion options should not 470 20, l) Fair Value of Financial Instruments The Company determines fair value based on its accounting policy for fair value measurement (i.e. exit price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date). See note 4 not 1 m) Revenue Recognition Product Sales 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 first one three 3 first second third second third The Company also has a 60 60 60 November 30, 2021 60 November 30, 2020 The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. Shipping and handling costs associated with the distribution of finished products to customers, are recorded in operating expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss and are recognized when the product is shipped to the customer. 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. Contract Liabilities Current deferred revenue primarily relates to unfulfilled e-commerce orders for the years ended November 30, 2021 2020. n) Marketing and Advertising Marketing and advertising related costs are expensed as incurred and are included in operating expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss and were $2.7 million and $1.0 million during the years ended November 30, 2021 2020, o) Research and Development Research and development (“R&D”) costs are expensed as incurred and are included in operating expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss. R&D costs were $0.3 million and $0.04 million during the years ended November 30, 2021 2020, p) Incomes Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized to the extent the Company believes that these assets are more likely than not The Company records uncertain tax positions on the basis of a two 1 not 2 not 50 not may November 30, 2021 2020, not If incurred, the Company recognizes interest and penalties related to income taxes on the income tax expense line in the accompanying Consolidated Statement of Operations and Comprehensive Loss. As of November 30, 2021 2020, The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. There are currently no November 30, 2018, not On March 27, 2020, $2 not q) Loss Per Share Basic loss per share is computed by dividing net loss, reduced by dividends, by the weighted-average number of common shares outstanding for the year. Diluted loss per share is computed by dividing net loss, reduced by dividends, by the weighted-average number of common shares outstanding plus common stock equivalents (if dilutive) related to stock options, restricted stock units, and warrants for each year and the conversion feature of convertible notes payable. r) Stock-Based Compensation 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, restricted stock units, 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 the date of grant and stock-based compensation costs for non-employees are recognized as expense over the vesting period on a straight-line basis. Stock-based compensation is classified in the accompanying Statements of Operations and Comprehensive Loss based on the function to which the related services are provided, which is included in operating expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss. Forfeitures are accounted for as they occur. The fair value of each stock option 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 we use 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. not s) Foreign Currency Transactions Foreign currency transactions are transactions denominated in a currency other than a subsidiary’s functional currency. A change in the exchange rates between a subsidiary’s functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. That increase or decrease in expected functional currency cash flows is recorded as other income (expense), in the accompanying Consolidated Statements of Operations and Comprehensive Loss. t) Foreign Currency Translation The Company maintains its books and records in US Dollars, which is its functional and reporting currency. Assets and liabilities of the Company’s international subsidiaries in which the local currency is the functional currency are translated into US Dollars at period-end exchange rates. Income and expenses are translated into US Dollars at the average exchange rates during the period. The resulting translation adjustments are included in the Company’s Consolidated Balance Sheets as a component of accumulated other comprehensive income (loss). u) Other Comprehensive Income (Loss) Other comprehensive income (loss) consists of foreign currency translation adjustments. v) Fair Value Measurement The Company follows a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to settle a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three ● Level 1 ● Level 2 1 ● Level 3 w) Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2018, 2018 13, 820 2018 13” 820. 2018 13 2018 13 first 2021. 2018 13 not Accounting Pronouncements Issued but Not In 2019, 2019 12, 740 not first 2022. 2019 12 not In January 2017, 2017 04, 350 2017 04” 2 2017 04 first 2024. 2017 04 not In 2016, 2016 13, 326 2016 13” 2016 13 December 2023 |
Note 5 - Acquisitions
Note 5 - Acquisitions | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 5. ACQUISITIONS Asset Acquisition On May 12, 2021 , The transaction was accounted for as an asset acquisition, with a total cost of $3.7 million of which $0.2 million were acquisition-related expenses. The estimated total cost of the acquisition has been allocated as follows (in thousands): Accounts receivable $ 465 Prepaid expenses 165 Inventory 82 Property and equipment 180 Patents 2,810 Total assets acquired $ 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. Business Combinations Ballistipax On August 18, 2021, two The estimated fair value of assets acquired on August 18, 2021 Inventory $ 117 Patents 60 Goodwill 165 Net assets acquired $ 342 Roboro On May 5, 2020, third 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, May 5, 2020. The fair value of assets acquired and liabilities assumed on May 5, 2020 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 acquired $ 557 |
Note 6 - Revenue, Deferred Reve
Note 6 - Revenue, Deferred Revenue and Accounts Receivable | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Revenue, Deferred Revenue and Accounts Receivable [Text Block] | 6. REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE 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 year ended November 30, 2021 2020 November 30, 2021. (in thousands) Deferred Revenue Deferred revenue balance, November 30, 2019 $ 11 Net additions to deferred revenue 18,826 Reductions in deferred revenue for revenue recognized during the fiscal year (13,935 ) Deferred revenue balance, November 30, 2020 4,902 Net additions to deferred revenue 33,641 Reductions in deferred revenue for revenue recognized during the fiscal year (37,418 ) Deferred revenue balance, November 30, 2021 $ 1,125 Revenue Disaggregation The following table presents disaggregation of the Company’s revenue by product type and distribution channel (in thousands): Years Ended November 30, Product type 2021 2020 Byrna® $ 42,114 $ 16,322 40mm 46 244 Total $ 42,160 $ 16,566 Years Ended November 30, Distribution channel 2021 2020 Wholesale (dealer/distributors and large end-users) $ 9,568 $ 2,953 E-commerce 32,592 13,613 Total $ 42,160 $ 16,566 Years Ended November 30, 2021 2020 U.S. Domestic $ 38,690 $ 15,498 International 3,470 1,057 Total $ 42,160 $ 16,566 |
Note 7 - Inventory
Note 7 - Inventory | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 7. INVENTORY The following table summarizes inventory as of November 30, 2021 2020, November 30, November 30, 2021 2020 Raw materials $ 3,175 $ 2,901 Work in process 428 302 Finished goods 3,010 1,614 Total $ 6,613 $ 4,817 |
Note 8 - Property and Equipment
Note 8 - Property and Equipment | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 8. PROPERTY AND EQUIPMENT The following table summarizes cost and accumulated depreciation as of November 30, 2021 2020, November 30, 2021 2020 Computer equipment and software $ 275 $ 204 Furniture and fixtures 208 105 Leasehold improvements 157 144 Injection molds 1,738 1,324 2,378 1,777 Less: accumulated depreciation 406 557 Total $ 1,972 $ 1,220 The Company recognized $0.3 million and $0.2 million in depreciation and amortization expense during the years ended November 30, 2021 2020, At November 31, 2021 2020, not |
Note 9 - Patent Rights
Note 9 - Patent Rights | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 9. PATENT RIGHTS On August 18, 2021, two 2038, On May 12, 2021, January 2037 2038, On April 13, 2018, two December 18, 2019, two May 31, 2020. no November 2033 2038, The Company recognized $0.2 million and $0.04 million in amortization of patent rights during the years ended November 30, 2021 2020, not November 30, 2021 2020, The below table summarizes amortization of the Company’s patents as of November 30, 2021 five Fiscal Year 2022 $ 244 2023 244 2024 244 2025 244 2026 244 Thereafter 2,448 Total $ 3,668 |
Note 10 - Accounts Payable and
Note 10 - Accounts Payable and Accrued Liabilities | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 10. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities consist of the following (in thousands): November 30, 2021 2020 Trade payables $ 2,793 $ 4,069 Accrued sales and use tax 940 1,050 Payroll accrual 2,317 904 Accrued professional fees 617 217 Other accrued liabilities 329 389 $ 6,996 $ 6,629 |
Note 11 - Notes Payable
Note 11 - Notes Payable | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Notes Payable Disclosure [Text Block] | 11. NOTES PAYABLE Paycheck Protection Program ( PPP ) Loan The Company received $0.2 million of funding under the Paycheck Protection Program (“PPP”) on May 4, 2020. June 2020, February 10, 2021, November 30, 2021. Roboro Acquisition Note As part of the Roboro acquisition, the Company assumed a loan payable to a former director of Roboro which is payable within four May 5, 2020 November 30, 2020. |
Note 12 - Lines of Credit
Note 12 - Lines of Credit | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 12. LINES OF CREDIT On January 19, 2021, November 30, 2021. January 19, 2024. Also on January 19, 2021, November 30, 2021. January 19, 2024. On July 6, 2021, January 19, 2021 ( $5.0 $1.5 $5.0 150 $5.0 $7.5 one one one $5.0 150 November 30, 2021, not Debt issuance costs of $0.1 million are being amortized over the term of the debt and are presented as part of Other Assets in the Consolidated Balance Sheets. Amortization of $0.03 million for the year ended November 30, 2021 |
Note 13 - Convertible Notes Pay
Note 13 - Convertible Notes Payable | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Convertible Notes Payable [Text Block] | 13. CONVERTIBLE NOTES PAYABLE Effective April 8, 2020, April 7, 2020, November 30, 2020 405 20, Extinguishments of Liabilities 405 20” 405 20, (i) the carrying value of the notes, net of unamortized discounts, of $5.4 million plus accrued interest of $0.4 million; and (ii) the fair value of the consideration transferred (Series A Preferred Stock and warrants) of $11.8 million. See Note 14, At the closing, in accordance with the Amendment and the Security Purchase Agreements pursuant to which the notes were issued, the Company also issued 149,842 warrants to the holders reflecting 400 warrants for each $1,000 14, In connection with the issuance of notes in April/May of 2019 October 23, 2023. In connection with the issuance of notes in October, 2018, October 23, 2023. |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 14. STOCKHOLDERS’ EQUITY In July 2021, On April 9, 2021, April 12, 2021 ( April 15, 2021, Reverse Stock Split On April 27, 2021, 1 April 27, 2021 one No one ten no Series A Preferred Stock Effective April 8, 2020, April 7, 2020, 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 when and if declared by the Board. The dividends were cumulative and accrued starting from the April 8, 2020 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. Then 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. Warrants Warrant Issuances in 2020 Upon the April 2020 $1,000 one October 22, 2023 ( October 2019, April 2019 May 2019) January 22, 2024 ( July 2019 September 2019 January 2020 14, During January 2020, $1,000 October 31, 2019. October 22, 2023. During February 2020, one February 5, 2021. 15, The assumptions that the Company used to determine the grant-date fair value of warrants granted for the years ended November 30, 2020 (Black-Scholes option pricing model) 2020 Risk free rate 0.35 – 1.57% Expected dividends 0% Expected volatility 98.28 – 109.93% Expected life (in years) 3.54 – 3.77 Market price of the Company's common stock on date of grant $2.50 Exercise price $2.50 Warrants Exercises in 2020: Based on the Company’s stock price, provisions allowing for early termination of outstanding warrants issued in connection with the Company’s October 2018 October 23, 2020. October 25, 2020, October 2018 November 27, 2020. October 25, 2020 November 27, 2020, October 2018 October 25, 2020 Based on the Company’s stock price, provisions allowing for early termination of two 2017 May 29, 2020 June 1, 2020, June 3, 2020, July 3, 2020. June 8, 2020, August 31, 2020. June 1, 2020 August 31, 2020, 2017 June 1, 2020 An additional 99,261 warrants that were issued in connection with the Company’s 2018 2019 June 1 August 31 2020 July 2020 During May 2020, During March 2020, October 22, 2018, April 22, 2019, May 20, 2019, July 22, 2019, September 16, 2019 January 15, 2020. November 30, 2020, Warrant Exercises in 2021 During the year ended November 30, 2021, In November 2021, The following table summarizes warrant activity, which includes the incentive warrants, for the year ended November 30, 2021: Weighted-Average Number of Exercise Warrants Price Outstanding, November 30, 2019 4,578,722 2.20 Granted 214,684 2.50 Exercised (4,207,667 ) (2.10 ) Outstanding, November 30, 2020 585,739 2.40 Granted — — Exercised (585,739 ) (2.40 ) Outstanding, November 30, 2021 — — Exercisable, November 30, 2021 — — Exercisable, November 30, 2020 585,739 2.40 The warrants outstanding at the end of the year had weighted-average remaining contract lives as follows: 2021 2020 (years) (years) Total outstanding warrants — 2.82 Total exercisable warrants — 2.82 Shares to be Issued On June 8, 2020, May 31, 2020. November 2020, no |
Note 15 - Stock-based Compensat
Note 15 - Stock-based Compensation | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 15. STOCK-BASED COMPENSATION 2017 The Company has granted stock options and other stock-based awards under its 2017 “2017 2017 2017 may 2017 February 24, 2021, 2017 2020 2020 2017 2020 no 2017 2020 On October 23, 2020, November 19, 2020 2020 “2020 2020 September 15, 2021, 2020 2020 may 2020 On February 24, 2021, 2017 2017 2020 no 2017 2020 2020 2017 no 2020 no 2020 Stock Options During the years ended November 30, 2021 2020, November 30, 2021 three During the year ended November 30, 2021, During the year ended November 30, 2020, one 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 years ended November 30, 2021 2020 Employee, Director and Non-Employee (Black-Scholes option pricing model) 2021 2020 Risk free rate 0.26 – 0.64% 0.00 – 1.68% Expected dividends 0% 0% Expected volatility 80 – 113% 118 – 144% Expected life (in years) 4 – 5 2 – 5 Market price of the Company’s common stock on date of grant $ 14.74 – 20.94 $ 1.90 – 14.80 Exercise price $ 14.90 – 20.20 $ 1.90 – 15.00 The following table summarizes option activity under the 2017 2020 November 30, 2021: Weighted-Average Stock Exercise Price Per Stock Options Option Outstanding, November 30, 2019 291,167 1.40 Granted 453,550 3.30 Expired (21,250 ) (2.10 ) Exercised (5,500 ) (1.90 ) Cancelled (12,000 ) (13.80 ) Outstanding, November 30, 2020 (1) 705,967 3.10 Granted 62,000 17.18 Exercised (81,182 ) (1.29 ) Cancelled (100,002 ) (5.91 ) Outstanding, November 30, 2021 (2) 586,783 3.48 Exercisable, November 30, 2021 (2) 524,783 Exercisable, November 30, 2020 (1) 505,967 ( 1 November 30, 2020 2017 ( 2 November 30, 2021 2020 The stock options outstanding at the end of the year had weighted-average contractual life as follows: 2021 2020 (years) (years) Total outstanding options 3.07 3.76 Total exercisable options 2.91 3.53 Incentive Warrants In December 2018, two 2017 December 2019. July 2020, one November 2021, 14, During the year ended November 30, 2020, 2020 Restricted Stock Units In August 2020, 2020 1 one third 20 second one third 20 one third 20 2 three During the year ended November 30, 2020, 2020 1 one third not second one third 20 third 20 2 three During year ended November 30, 2021, 2020 1 one third not second one third 20 one third 20 2 three one November 30, 2021, In November 2021, not RSU Valuation The assumptions that the Company used to determine the grant-date fair value of RSUs granted for the years ended November 30, 2021 November 30, 2020 (Monte Carlo simulation model) 2021 2020 Risk free rate 0.30 % 0.26 % Expected dividends 0.00 % 0.00 % Expected volatility 92 % 121 % Expected life (in years) 3 3 Market price of the Company’s common stock on date of grant $ 20.9 – 26.9 $ 14.10 – 15.80 Exercise price $ 0 $ 0 The following table summarizes the RSU activity during the year ended November 30, 2021: RSUs Outstanding, November 30, 2019 — Granted 1,573,500 Outstanding, November 30, 2020 1,573,500 Granted 174,493 Vested (62,500 ) Cancelled (91,373 ) Outstanding, November 30, 2021 1,594,120 Exercisable, November 30, 2021 — Stock-Based Compensation Expense Total stock-based compensation expense of $3.2 million and $1.3 million for the years ended November 30, 2021 2020, As of November 30, 2021 2020, not November 30, 2021 2020, |
Note 16 - Earnings Per Share
Note 16 - Earnings Per Share | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 16. EARNINGS PER SHARE For the years ended November 30, 2021 2020, November 30, 2021 2020. November 30, (in thousands except share and per share data) 2021 2020 Net loss $ (3,283 ) $ (12,553 ) Preferred stock dividends (1,043 ) — Net loss available to common shareholders $ (4,326 ) $ (12,553 ) Weighted-average number of shares used in computing net loss per share, basic, and diluted 19,610,039 12,678,747 Net loss per share - basic and diluted $ (0.22 ) $ (0.98 ) The Company’s potential dilutive securities, which include stock options and outstanding warrants to purchase shares of common stock, have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The following potential common shares, presented based on amounts outstanding at each period end, were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: November 30, 2021 2020 Series A Preferred Stock — 4,636,649 Warrants — 585,739 Stock Options 586,783 705,967 Restricted Stock 1,594,120 1,573,500 Total 2,180,903 7,501,855 |
Note 17 - Related Party Transac
Note 17 - Related Party Transactions | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 17. 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 $0.4 million and $0.2 million for royalties due to the Company’s Chief Technology Officer (“CTO”) during the years ended November 30, 2021 2020, November 30, 2021 2020, November 30, 2021 2020, 2018 15, 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 year ended November 30, 2020. 9, 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 the Company’s President and, effective April 1, 2019, June 30, 2020. November 30, 2020. July 1, 2020. November 30, 2021 November 30, 2020, |
Note 18 - Leases
Note 18 - Leases | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Leases [Text Block] | 18. LEASES Operating Leases The Company has operating leases for real estate in the United States and South Africa and does not In 2019, June 2020 June 2020. August 2021, one February 29, 2028 . The Company leased office and warehouse space in South Africa under a lease that expired on November 30, 2020 December 2020, November 2024. November 30, 2021 October 2021, October 31, 2022. The Company leased real estate in Fort Wayne Indiana. The lease expires on February 28, 2022 February 2021, July 31, 2025 The Company also leases office space in Las Vegas, Nevada. The lease expires on August 31, 2022 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 As of November 30, 2021 2020, November 30, 2021 2020 Lease Cost: Operating lease cost $ 350 $ 198 Short-term lease cost 5 25 Variable lease cost — 9 Total lease cost $ 355 $ 232 Other Information: Cash paid for amounts included in the measurement of operating lease liabilities $ 316 $ 310 Operating lease liabilities arising from obtaining right-of-use assets $ 191 $ 1,336 Operating Leases: Weighted-average remaining lease term (in years) 4.9 4.9 Weighted-average discount rate 9.2 % 8.4 % Future lease payments under non-cancelable operating leases as of November 30, 2021 Fiscal Year Ended November 30, 2022 $ 319 2023 272 2024 280 2025 187 2026 128 Thereafter 170 Total lease payments 1,355 Less: imputed interest 260 Total lease liabilities $ 1,095 |
Note 19 - Income Taxes
Note 19 - Income Taxes | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 19. INCOME TAXES Loss before income taxes consists of the following (in thousands): Year Ended November 30, 2021 2020 United States $ (2,911 ) $ (13,572 ) Foreign (532 ) 1,312 Total $ (3,443 ) $ (12,260 ) The components of the provision for income taxes is as follows (in thousands): Year Ended November 30, 2021 2020 Current expense (benefit): Federal $ — $ — State 14 — Foreign (165 ) 293 Total current expense (benefit): (151 ) 293 Deferred expense (benefit): Federal — — State — — Foreign (9 ) — Total deferred expense (benefit) (9 ) — Total income tax expense (benefit) $ (160 ) $ 293 A reconciliation of the Company’s statutory income tax rate to the Company’s effective income tax rate is as follows: Year Ended November 30, 2021 2020 Income at US statutory rate 21.00 % 21.00 % State taxes, net of Federal benefit (0.31 )% 6.58 % Permanent differences (0.34 )% (13.60 )% Foreign Taxes 6.34 % - Foreign rate differential (4.52 )% (0.75 )% Valuation allowance (9.05 )% (12.30 )% Other (8.52 )% (3.32 )% Total 4.60 % (2.39 )% The net deferred income tax asset balance related to the following (in thousands): November 30, 2021 2020 Depreciation and amortization $ (412 ) $ (270 ) Stock compensation 1,103 335 Inventory reserve 95 29 Bad debt reserve 3 3 Accrued payroll 363 183 Warranty reserve 160 90 Foreign tax credit carryforwards 9 — Unrealized gain/(loss) on investments 4 — Net operating loss (“NOL”) carryforwards 5,226 5,950 Total deferred tax assets 6,551 6,320 Valuation allowance (6,551 ) (6,320 ) Net deferred tax assets (liabilities) $ — $ — As of November 30, 2021, 2025 not Future realization of the tax benefits of existing temporary differences and NOL carryforwards ultimately depends on the existence of sufficient taxable income within the carryforward period. As of November 30, 2021 2020, not not not November 30, 2021 2020. November 30, 2021 2020, Pursuant to Internal Revenue Code Section 382, may 50% three 382 50% March 5, 2007 November 30, 2020. March 10, 2007, August 27, 2013, March 27, 2020. |
Note 20 - Commitments and Conti
Note 20 - Commitments and Contingencies | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 20. COMMITMENTS AND CONTINGENCIES Royalty Payment Pursuant to the amended agreement related to the Final Payment to the CTO of the Company for the Buys Portfolio, the Company is committed to a minimum royalty payment of $0.025 million per year. Royalties on CO2 2 first 2 November 30, 2021 November 30, 2020. COVID- 19 CARES ) Act On January 30, 2020, 19 March 2020, 19 The full impact of the COVID- 19 may 19 not 19 2021. The Company faces various risks related to COVID- 19 19 may may 19 may not 19 no may 19 may On March 27, 2020, 19. Legal Proceedings In the ordinary course of our business, the Company may may not may may |
Note 21 - Exclusive Supply and
Note 21 - Exclusive Supply and Purchase Agreements | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Collaborative Arrangement Disclosure [Text Block] | 21. EXCLUSIVE SUPPLY AND PURCHASE AGREEMENTS The Company entered into a Development, Supply and Manufacturing Agreement with the manufacturer of the 40 August 1, 2017. four one not November 30, 2021 2020, not August 1, 2021. |
Note 22 - Segment and Geographi
Note 22 - Segment and Geographical Disclosures | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 22. SEGMENT AND GEOGRAPHICAL DISCLOSURES The Chief Executive Officer, 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 The tables below (in thousands) summarize the Company’s revenue, long-lived assets and total assets as of November 30, 2021 2020, Revenue US South Africa Total 2021 $ 38,690 $ 3,470 $ 42,160 2020 15,497 1,069 16,566 Long-lived assets US South Africa Total 2021 $ 7,101 $ 918 $ 8,019 2020 3,575 275 3,850 Total Assets US South Africa Total 2021 $ 70,399 $ 4,915 $ 75,314 2020 18,525 2,691 21,216 |
Note 23 - Financial Instruments
Note 23 - Financial Instruments | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | 23. 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 the US in US dollars and with banks in South Africa in US dollars and South African rand. The Company’s operations are conducted in the US and South Africa. The value of the South African rand against the US dollar may During the year ended November 30, 2021, November 30, 2021 2020, 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 US 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 US dollars. The Company is not not ii) Credit Risk Credit risk is the risk that one 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. |
Note 24 - Subsequent Events
Note 24 - Subsequent Events | 12 Months Ended |
Nov. 30, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 24. SUBSEQUENT EVENTS On December 5, 2021, may two may 10b5 1 not may The Company entered into a lease for office space in Las Vegas, Nevada. The lease commencement date is December 1, 2021 January 2027. April 1, 2022. March 2027. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Nov. 30, 2021 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | a) 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 |
Business Combinations Policy [Policy Text Block] | b) Business Combinations Assets and liabilities acquired in a business combination are accounted for at fair value. The Company records the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values at the acquisition dates. The excess, if any, of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. If the fair value of the assets and liabilities acquired exceed the fair value of the purchase consideration, negative goodwill is recognized in the statement of operations. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may Goodwill resulting from a business combination is not may not not, not The Company performs its review for impairment during the third one August 31, 2021, |
Asset Acquistion [Policy Text Block] | c) Asset Acquisition Acquisitions of the assets of a business are accounted for at cost based on their allocated fair value. The Company allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values at the acquisition dates. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not may not |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | d) Cash and Cash Equivalents Cash and cash equivalents include bank deposits and short-term, highly liquid investments. Investments acquired with maturity dates of three e) Restricted Cash The Company’s restricted cash – current was $0.1 million and $6.4 million at November 30, 2021 2020, $0.1 November 30, 2021 November 2019 $6.4 November 30, 2020 November 30, 2021 November 30, 2020, |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | f) Allowance for Doubtful Accounts Receivable The Company provides an allowance for its accounts receivable for estimated losses that may may November 30, 2021 2020 |
Inventory, Policy [Policy Text Block] | g) Inventories Inventories are principally comprised of raw materials and finished goods and are valued at the lower of cost or net realizable value with cost being determined on the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | h) 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 seven three seven |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | i) Patent Rights The perpetual, irrevocable, exclusive and non-exclusive license to use technology with respect to the cost of patent rights is capitalized and amortized over the estimated useful life, currently estimated to be 15 to 17 years. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | j) Impairment of Long-Lived Assets Long-lived assets to be held and used are analyzed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not not November 30, 2021 2020, |
Debt, Policy [Policy Text Block] | k) Convertible Notes Payable When the Company has determined that the embedded conversion options should not 470 20, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | l) Fair Value of Financial Instruments The Company determines fair value based on its accounting policy for fair value measurement (i.e. exit price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date). See note 4 not 1 |
Revenue from Contract with Customer [Policy Text Block] | m) Revenue Recognition Product Sales 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 first one three 3 first second third second third The Company also has a 60 60 60 November 30, 2021 60 November 30, 2020 The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. Shipping and handling costs associated with the distribution of finished products to customers, are recorded in operating expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss and are recognized when the product is shipped to the customer. 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. Contract Liabilities Current deferred revenue primarily relates to unfulfilled e-commerce orders for the years ended November 30, 2021 2020. |
Advertising Cost [Policy Text Block] | n) Marketing and Advertising Marketing and advertising related costs are expensed as incurred and are included in operating expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss and were $2.7 million and $1.0 million during the years ended November 30, 2021 2020, |
Research and Development Expense, Policy [Policy Text Block] | o) Research and Development Research and development (“R&D”) costs are expensed as incurred and are included in operating expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss. R&D costs were $0.3 million and $0.04 million during the years ended November 30, 2021 2020, |
Income Tax, Policy [Policy Text Block] | p) Incomes Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized to the extent the Company believes that these assets are more likely than not The Company records uncertain tax positions on the basis of a two 1 not 2 not 50 not may November 30, 2021 2020, not If incurred, the Company recognizes interest and penalties related to income taxes on the income tax expense line in the accompanying Consolidated Statement of Operations and Comprehensive Loss. As of November 30, 2021 2020, The Company files tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal and state jurisdictions, where applicable. There are currently no November 30, 2018, not On March 27, 2020, $2 not |
Earnings Per Share, Policy [Policy Text Block] | q) Loss Per Share Basic loss per share is computed by dividing net loss, reduced by dividends, by the weighted-average number of common shares outstanding for the year. Diluted loss per share is computed by dividing net loss, reduced by dividends, by the weighted-average number of common shares outstanding plus common stock equivalents (if dilutive) related to stock options, restricted stock units, and warrants for each year and the conversion feature of convertible notes payable. |
Share-based Payment Arrangement [Policy Text Block] | r) Stock-Based Compensation 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, restricted stock units, 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 the date of grant and stock-based compensation costs for non-employees are recognized as expense over the vesting period on a straight-line basis. Stock-based compensation is classified in the accompanying Statements of Operations and Comprehensive Loss based on the function to which the related services are provided, which is included in operating expenses in the accompanying Consolidated Statements of Operations and Comprehensive Loss. Forfeitures are accounted for as they occur. The fair value of each stock option 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 we use 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. not |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | s) Foreign Currency Transactions Foreign currency transactions are transactions denominated in a currency other than a subsidiary’s functional currency. A change in the exchange rates between a subsidiary’s functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. That increase or decrease in expected functional currency cash flows is recorded as other income (expense), in the accompanying Consolidated Statements of Operations and Comprehensive Loss. t) Foreign Currency Translation The Company maintains its books and records in US Dollars, which is its functional and reporting currency. Assets and liabilities of the Company’s international subsidiaries in which the local currency is the functional currency are translated into US Dollars at period-end exchange rates. Income and expenses are translated into US Dollars at the average exchange rates during the period. The resulting translation adjustments are included in the Company’s Consolidated Balance Sheets as a component of accumulated other comprehensive income (loss). |
Comprehensive Income, Policy [Policy Text Block] | u) Other Comprehensive Income (Loss) Other comprehensive income (loss) consists of foreign currency translation adjustments. |
Fair Value Measurement, Policy [Policy Text Block] | v) Fair Value Measurement The Company follows a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to settle a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three ● Level 1 ● Level 2 1 ● Level 3 |
New Accounting Pronouncements, Policy [Policy Text Block] | w) Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2018, 2018 13, 820 2018 13” 820. 2018 13 2018 13 first 2021. 2018 13 not Accounting Pronouncements Issued but Not In 2019, 2019 12, 740 not first 2022. 2019 12 not In January 2017, 2017 04, 350 2017 04” 2 2017 04 first 2024. 2017 04 not In 2016, 2016 13, 326 2016 13” 2016 13 December 2023 |
Note 5 - Acquisitions (Tables)
Note 5 - Acquisitions (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Asset Acquisition [Table Text Block] | Accounts receivable $ 465 Prepaid expenses 165 Inventory 82 Property and equipment 180 Patents 2,810 Total assets acquired $ 3,702 |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Inventory $ 117 Patents 60 Goodwill 165 Net assets acquired $ 342 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 acquired $ 557 |
Note 6 - Revenue, Deferred Re_2
Note 6 - Revenue, Deferred Revenue and Accounts Receivable (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | (in thousands) Deferred Revenue Deferred revenue balance, November 30, 2019 $ 11 Net additions to deferred revenue 18,826 Reductions in deferred revenue for revenue recognized during the fiscal year (13,935 ) Deferred revenue balance, November 30, 2020 4,902 Net additions to deferred revenue 33,641 Reductions in deferred revenue for revenue recognized during the fiscal year (37,418 ) Deferred revenue balance, November 30, 2021 $ 1,125 |
Disaggregation of Revenue [Table Text Block] | Years Ended November 30, Product type 2021 2020 Byrna® $ 42,114 $ 16,322 40mm 46 244 Total $ 42,160 $ 16,566 Years Ended November 30, Distribution channel 2021 2020 Wholesale (dealer/distributors and large end-users) $ 9,568 $ 2,953 E-commerce 32,592 13,613 Total $ 42,160 $ 16,566 Years Ended November 30, 2021 2020 U.S. Domestic $ 38,690 $ 15,498 International 3,470 1,057 Total $ 42,160 $ 16,566 |
Note 7 - Inventory (Tables)
Note 7 - Inventory (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | November 30, November 30, 2021 2020 Raw materials $ 3,175 $ 2,901 Work in process 428 302 Finished goods 3,010 1,614 Total $ 6,613 $ 4,817 |
Note 8 - Property and Equipme_2
Note 8 - Property and Equipment (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | November 30, 2021 2020 Computer equipment and software $ 275 $ 204 Furniture and fixtures 208 105 Leasehold improvements 157 144 Injection molds 1,738 1,324 2,378 1,777 Less: accumulated depreciation 406 557 Total $ 1,972 $ 1,220 |
Note 9 - Patent Rights (Tables)
Note 9 - Patent Rights (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal Year 2022 $ 244 2023 244 2024 244 2025 244 2026 244 Thereafter 2,448 Total $ 3,668 |
Note 10 - Accounts Payable an_2
Note 10 - Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | November 30, 2021 2020 Trade payables $ 2,793 $ 4,069 Accrued sales and use tax 940 1,050 Payroll accrual 2,317 904 Accrued professional fees 617 217 Other accrued liabilities 329 389 $ 6,996 $ 6,629 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Schedule of Warrants Valuation Assumptions [Table Text Block] | 2020 Risk free rate 0.35 – 1.57% Expected dividends 0% Expected volatility 98.28 – 109.93% Expected life (in years) 3.54 – 3.77 Market price of the Company's common stock on date of grant $2.50 Exercise price $2.50 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted-Average Number of Exercise Warrants Price Outstanding, November 30, 2019 4,578,722 2.20 Granted 214,684 2.50 Exercised (4,207,667 ) (2.10 ) Outstanding, November 30, 2020 585,739 2.40 Granted — — Exercised (585,739 ) (2.40 ) Outstanding, November 30, 2021 — — Exercisable, November 30, 2021 — — Exercisable, November 30, 2020 585,739 2.40 2021 2020 (years) (years) Total outstanding warrants — 2.82 Total exercisable warrants — 2.82 |
Note 15 - Stock-based Compens_2
Note 15 - Stock-based Compensation (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2021 2020 Risk free rate 0.26 – 0.64% 0.00 – 1.68% Expected dividends 0% 0% Expected volatility 80 – 113% 118 – 144% Expected life (in years) 4 – 5 2 – 5 Market price of the Company’s common stock on date of grant $ 14.74 – 20.94 $ 1.90 – 14.80 Exercise price $ 14.90 – 20.20 $ 1.90 – 15.00 2021 2020 Risk free rate 0.30 % 0.26 % Expected dividends 0.00 % 0.00 % Expected volatility 92 % 121 % Expected life (in years) 3 3 Market price of the Company’s common stock on date of grant $ 20.9 – 26.9 $ 14.10 – 15.80 Exercise price $ 0 $ 0 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted-Average Stock Exercise Price Per Stock Options Option Outstanding, November 30, 2019 291,167 1.40 Granted 453,550 3.30 Expired (21,250 ) (2.10 ) Exercised (5,500 ) (1.90 ) Cancelled (12,000 ) (13.80 ) Outstanding, November 30, 2020 (1) 705,967 3.10 Granted 62,000 17.18 Exercised (81,182 ) (1.29 ) Cancelled (100,002 ) (5.91 ) Outstanding, November 30, 2021 (2) 586,783 3.48 Exercisable, November 30, 2021 (2) 524,783 Exercisable, November 30, 2020 (1) 505,967 2021 2020 (years) (years) Total outstanding options 3.07 3.76 Total exercisable options 2.91 3.53 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | RSUs Outstanding, November 30, 2019 — Granted 1,573,500 Outstanding, November 30, 2020 1,573,500 Granted 174,493 Vested (62,500 ) Cancelled (91,373 ) Outstanding, November 30, 2021 1,594,120 Exercisable, November 30, 2021 — |
Note 16 - Earnings Per Share (T
Note 16 - Earnings Per Share (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table Text Block] | November 30, (in thousands except share and per share data) 2021 2020 Net loss $ (3,283 ) $ (12,553 ) Preferred stock dividends (1,043 ) — Net loss available to common shareholders $ (4,326 ) $ (12,553 ) Weighted-average number of shares used in computing net loss per share, basic, and diluted 19,610,039 12,678,747 Net loss per share - basic and diluted $ (0.22 ) $ (0.98 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | November 30, 2021 2020 Series A Preferred Stock — 4,636,649 Warrants — 585,739 Stock Options 586,783 705,967 Restricted Stock 1,594,120 1,573,500 Total 2,180,903 7,501,855 |
Note 18 - Leases (Tables)
Note 18 - Leases (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | November 30, 2021 2020 Lease Cost: Operating lease cost $ 350 $ 198 Short-term lease cost 5 25 Variable lease cost — 9 Total lease cost $ 355 $ 232 Other Information: Cash paid for amounts included in the measurement of operating lease liabilities $ 316 $ 310 Operating lease liabilities arising from obtaining right-of-use assets $ 191 $ 1,336 Operating Leases: Weighted-average remaining lease term (in years) 4.9 4.9 Weighted-average discount rate 9.2 % 8.4 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal Year Ended November 30, 2022 $ 319 2023 272 2024 280 2025 187 2026 128 Thereafter 170 Total lease payments 1,355 Less: imputed interest 260 Total lease liabilities $ 1,095 |
Note 19 - Income Taxes (Tables)
Note 19 - Income Taxes (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended November 30, 2021 2020 United States $ (2,911 ) $ (13,572 ) Foreign (532 ) 1,312 Total $ (3,443 ) $ (12,260 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended November 30, 2021 2020 Current expense (benefit): Federal $ — $ — State 14 — Foreign (165 ) 293 Total current expense (benefit): (151 ) 293 Deferred expense (benefit): Federal — — State — — Foreign (9 ) — Total deferred expense (benefit) (9 ) — Total income tax expense (benefit) $ (160 ) $ 293 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended November 30, 2021 2020 Income at US statutory rate 21.00 % 21.00 % State taxes, net of Federal benefit (0.31 )% 6.58 % Permanent differences (0.34 )% (13.60 )% Foreign Taxes 6.34 % - Foreign rate differential (4.52 )% (0.75 )% Valuation allowance (9.05 )% (12.30 )% Other (8.52 )% (3.32 )% Total 4.60 % (2.39 )% |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | November 30, 2021 2020 Depreciation and amortization $ (412 ) $ (270 ) Stock compensation 1,103 335 Inventory reserve 95 29 Bad debt reserve 3 3 Accrued payroll 363 183 Warranty reserve 160 90 Foreign tax credit carryforwards 9 — Unrealized gain/(loss) on investments 4 — Net operating loss (“NOL”) carryforwards 5,226 5,950 Total deferred tax assets 6,551 6,320 Valuation allowance (6,551 ) (6,320 ) Net deferred tax assets (liabilities) $ — $ — |
Note 22 - Segment and Geograp_2
Note 22 - Segment and Geographical Disclosures (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Revenue US South Africa Total 2021 $ 38,690 $ 3,470 $ 42,160 2020 15,497 1,069 16,566 Long-lived assets US South Africa Total 2021 $ 7,101 $ 918 $ 8,019 2020 3,575 275 3,850 Total Assets US South Africa Total 2021 $ 70,399 $ 4,915 $ 75,314 2020 18,525 2,691 21,216 |
Note 1 - Nature of Operations (
Note 1 - Nature of Operations (Details Textual) | Nov. 30, 2021a |
Number of Facilities | 2 |
Fort Wayne, Indiana [Member] | |
Area of Real Estate Property (Acre) | 14,000 |
Pretoria South Africa [Member] | |
Area of Real Estate Property (Acre) | 10,000 |
Note 2 - Operations and Manag_2
Note 2 - Operations and Management Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Jul. 31, 2021 | Nov. 30, 2021 | Nov. 30, 2020 | Aug. 31, 2021 | Jul. 06, 2021 | Jan. 19, 2021 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (53,498) | $ (50,215) | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 42,160 | 16,566 | ||||
Net Income (Loss) Available to Common Stockholders, Basic, Total | (4,326) | (12,553) | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,875,000 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 21 | |||||
Stock Offering, Underwriting Discounts, Commissions, and Offering Expenses | $ 4,400 | |||||
Proceeds from Issuance of Common Stock, Net | $ 56,000 | $ 55,952 | $ 0 | |||
Over-Allotment Option [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 375,000 | |||||
Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,500 | $ 5,000 | ||||
Equipment Financing Line of Credit [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500 | $ 1,500 |
Note 4 - Summary of Significa_2
Note 4 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Aug. 31, 2021 | Nov. 30, 2021 | Nov. 30, 2020 | |
Goodwill, Impairment Loss | $ 0 | ||
Restricted Cash, Current | $ 92 | $ 6,389 | |
Restricted Cash, Noncurrent | 0 | 92 | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 10 | 10 | |
Tangible Asset Impairment Charges, Total | $ 0 | $ 0 | |
Standard Product Warranty, Term (Year) | 1 year | ||
Extended Product Warranty, Term (Year) | 3 years | 3 years | |
Loss Contingency Accrual, Ending Balance | $ 300 | ||
Advertising Expense | 2,700 | $ 1,000 | |
Research and Development Expense, Total | 300 | 40 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 | |
Minimum [Member] | Patents [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | ||
Minimum [Member] | Computer Equipment and Software [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Minimum [Member] | Leasehold Improvements [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 3 years | ||
Maximum [Member] | Patents [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 17 years | ||
Maximum [Member] | Computer Equipment and Software [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 7 years | ||
Maximum [Member] | Leasehold Improvements [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 7 years |
Note 5 - Acquisitions (Details
Note 5 - Acquisitions (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Aug. 18, 2021 | May 12, 2021 | May 27, 2020 | May 05, 2020 | Nov. 30, 2020 | Jun. 08, 2020 | Apr. 08, 2020 |
Stock Issued During Period, Value, Acquisitions | $ 554 | ||||||
Share Price (in dollars per share) | $ 6 | $ 2.50 | |||||
Ballistipax [Member] | |||||||
Asset Acquisition, Consideration Transferred, Total | $ 342 | ||||||
Roboro [Member] | |||||||
Asset Acquisition, Consideration Transferred, Total | $ 3,702 | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
Business Combination, Consideration Transferred, Total | $ 600 | ||||||
Payments to Acquire Businesses, Gross | 500 | ||||||
Business Acquisition, Restricted Shares Issued, Vesting Period (Month) | 15 months | ||||||
Equity Issued in Business Combination, Fair Value Disclosure | $ 600 | ||||||
Share Price (in dollars per share) | $ 4 | ||||||
Roboro [Member] | Subscription Agreements [Member] | |||||||
Shares, Acquisitions During Period (in shares) | 138,889 | ||||||
Stock Issued During Period, Value, Acquisitions | $ 500 | ||||||
Business Acquisition, Share Price (in dollars per share) | $ 3.60 | ||||||
Kore [Member] | |||||||
Asset Acquisition, Consideration Transferred, Total | 3,700 | ||||||
Asset Acquisition, Consideration Transferred, Transaction Cost | $ 200 |
Note 5 - Acquisitions - Allocat
Note 5 - Acquisitions - Allocation of Total Cost of Asset Acquisition (Details) - USD ($) $ in Thousands | May 12, 2021 | Nov. 30, 2021 | Nov. 30, 2020 |
Inventory | $ 6,613 | $ 4,817 | |
Property and equipment | 1,972 | 1,220 | |
Patents | $ 3,668 | $ 811 | |
Roboro [Member] | |||
Patents | $ 2,810 | ||
Total assets acquired | 3,702 | ||
Kore [Member] | |||
Accounts receivable | 465 | ||
Prepaid expenses | 165 | ||
Inventory | 82 | ||
Property and equipment | 180 | ||
Total assets acquired | $ 3,700 |
Note 5 - Acquisitions - Estimat
Note 5 - Acquisitions - Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Nov. 30, 2021 | Aug. 18, 2021 | Nov. 30, 2020 | May 05, 2020 |
Goodwill | $ 816 | $ 651 | ||
Ballistipax [Member] | ||||
Inventory | $ 117 | |||
Patents | 60 | |||
Goodwill | 165 | |||
Net assets acquired | $ 342 | |||
Roboro [Member] | ||||
Goodwill | $ 651 | |||
Net assets acquired | 557 | |||
Property and equipment | 67 | |||
Right-of-use asset, net | 54 | |||
Loan payable | (123) | |||
Operating lease liability, current | (35) | |||
Operating lease liability, noncurrent | (19) | |||
Other net asset (liabilities) | $ (38) |
Note 6 - Revenue, Deferred Re_3
Note 6 - Revenue, Deferred Revenue and Accounts Receivable (Details Textual) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Extended Product Warranty, Term (Year) | 3 years | 3 years |
Note 6 - Revenue, Deferred Re_4
Note 6 - Revenue, Deferred Revenue and Accounts Receivable - Summary of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Deferred revenue balance | $ 4,902 | $ 11 |
Net additions to deferred revenue | 33,641 | 18,826 |
Reductions in deferred revenue for revenue recognized during the fiscal year | (37,418) | (13,935) |
Deferred revenue balance | $ 1,125 | $ 4,902 |
Note 6 - Revenue, Deferred Re_5
Note 6 - Revenue, Deferred Revenue and Accounts Receivable - Revenue Disaggregation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Revenues | $ 42,160 | $ 16,566 |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 42,160 | 16,566 |
UNITED STATES | ||
Revenues | 38,690 | 15,498 |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 38,690 | 15,497 |
International [Member] | ||
Revenues | 3,470 | 1,057 |
Wholesale (Dealer/Distributors and Large End-Users) [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 9,568 | 2,953 |
E-commerce [Member] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 32,592 | 13,613 |
Byrna HD [Member] | ||
Revenues | 42,114 | 16,322 |
40mm [Member] | ||
Revenues | $ 46 | $ 244 |
Note 7 - Inventory - Summary of
Note 7 - Inventory - Summary of Inventory (Details) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Raw materials | $ 3,175 | $ 2,901 |
Work in process | 428 | 302 |
Finished goods | 3,010 | 1,614 |
Total | $ 6,613 | $ 4,817 |
Note 8 - Property and Equipme_3
Note 8 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Depreciation, Depletion and Amortization, Total | $ 300 | $ 242 |
Deposits Assets, Noncurrent | $ 1,293 | $ 619 |
Note 8 - Property and Equipme_4
Note 8 - Property and Equipment - Summary of Cost and Accumulated Depreciation (Details) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Property, plant and equipment, gross | $ 2,378 | $ 1,777 |
Less: accumulated depreciation | 406 | 557 |
Total | 1,972 | 1,220 |
Computer Equipment and Software [Member] | ||
Property, plant and equipment, gross | 275 | 204 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 208 | 105 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | 157 | 144 |
Injection Molds [Member] | ||
Property, plant and equipment, gross | $ 1,738 | $ 1,324 |
Note 9 - Patent Rights (Details
Note 9 - Patent Rights (Details Textual) - USD ($) $ in Thousands | Aug. 18, 2021 | May 12, 2021 | Dec. 18, 2019 | Apr. 13, 2018 | Nov. 30, 2021 | Nov. 30, 2020 |
Payments to Acquire Intangible Assets | $ 138 | $ 80 | ||||
Stock Issued During Period, Value, Purchase of Assets | 693 | |||||
Purchase and Sale Agreement with Andre Buys [Member] | ||||||
Deferred Compensation Arrangement with Individual, Distribution Paid | $ 100 | |||||
Legal Costs to Transfer Patent Rights | 10 | |||||
Payments to Acquire Intangible Assets | $ 100 | |||||
Term for Second Payment (Year) | 2 years | |||||
Maximum [Member] | Purchase and Sale Agreement with Andre Buys [Member] | ||||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | $ 800 | |||||
Minimum [Member] | Purchase and Sale Agreement with Andre Buys [Member] | ||||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | $ 500 | |||||
Kore [Member] | ||||||
Payments to Acquire Productive Assets, Total | $ 3,500 | |||||
Asset Acquisition, Consideration Transferred, Transaction Cost | 200 | |||||
Asset Acquisition, Consideration Transferred, Total | 3,700 | |||||
Capitalized Key Patents and Intellectual Property Acquired | $ 2,800 | |||||
Ballistipax [Member] | ||||||
Asset Acquisition, Consideration Transferred, Total | $ 342 | |||||
Patents [Member] | ||||||
Amortization of Intangible Assets, Total | 200 | 40 | ||||
Impairment of Intangible Assets, Finite-lived | 0 | $ 0 | ||||
Patents [Member] | Purchase and Sale Agreement with Andre Buys [Member] | ||||||
Deferred Compensation Arrangement with Individual, Award Granted, Amount | $ 800 | |||||
Stock Issued During Period, Value, Purchase of Assets | $ 700 | |||||
Stock Issued During Period, Shares, Purchase of Assets (in shares) | 386,681 | |||||
Cash Payment | $ 80 | |||||
Patents [Member] | Maximum [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 17 years | |||||
Patents [Member] | Maximum [Member] | Purchase and Sale Agreement with Andre Buys [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |||||
Patents [Member] | Minimum [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |||||
Patents [Member] | Minimum [Member] | Purchase and Sale Agreement with Andre Buys [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | |||||
Patents [Member] | Kore [Member] | Maximum [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | |||||
Patents [Member] | Kore [Member] | Minimum [Member] | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |||||
Patents [Member] | Ballistipax [Member] | ||||||
Finite-lived Intangible Assets Acquired | $ 60 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 17 years |
Note 9 - Patent Rights - Summar
Note 9 - Patent Rights - Summary of Amortization (Details) $ in Thousands | Nov. 30, 2021USD ($) |
2022 | $ 244 |
2023 | 244 |
2024 | 244 |
2025 | 244 |
2026 | 244 |
Thereafter | 2,448 |
Total | $ 3,668 |
Note 10 - Accounts Payable an_3
Note 10 - Accounts Payable and Accrued Liabilities - Summary of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Trade payables | $ 2,793 | $ 4,069 |
Accrued sales and use tax | 940 | 1,050 |
Payroll accrual | 2,317 | 904 |
Accrued professional fees | 617 | 217 |
Other accrued liabilities | $ 329 | $ 389 |
Note 11 - Notes Payable (Detail
Note 11 - Notes Payable (Details Textual) ر.س in Millions, $ in Millions | Feb. 10, 2021USD ($) | May 04, 2020USD ($) | May 05, 2020USD ($) | May 05, 2020SAR (ر.س) |
Roboro [Member] | Loans Payable [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | 7.00% | ||
Debt Instrument, Fair Value Disclosure, Total | $ 0.1 | ر.س 2.3 | ||
Paycheck Protection Program, CARES Act [Member] | ||||
Proceeds from Bank Debt | $ 0.2 | $ 0.2 |
Note 12 - Lines of Credit (Deta
Note 12 - Lines of Credit (Details Textual) - USD ($) $ in Thousands | Jul. 06, 2021 | Jan. 19, 2021 | Nov. 30, 2021 | Nov. 30, 2020 | Aug. 31, 2021 |
Debt Issuance Costs, Line of Credit Arrangements, Gross | $ 100 | $ 100 | |||
Amortization of Debt Issuance Costs | 23 | $ 0 | |||
Interest Expense [Member] | |||||
Amortization of Debt Issuance Costs | $ 30 | ||||
Revolving Credit Facility [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,500 | $ 5,000 | |||
Line of Credit Facility, Interest Rate at Period End | 3.75% | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ||||
Debt Instrument, Amendment Duration (Day) | 150 days | ||||
Debt Instrument, Fee Amount | $ 20 | ||||
Line of Credit Facility, Covenant, Maximum Outstanding | $ 5,000 | ||||
Long-term Line of Credit, Total | 0 | ||||
Revolving Credit Facility [Member] | Minimum [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||||
Revolving Credit Facility [Member] | Prime Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||
Equipment Financing Line of Credit [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500 | 1,500 | |||
Line of Credit Facility, Interest Rate at Period End | 3.75% | ||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ||||
Long-term Line of Credit, Total | $ 0 | ||||
Equipment Financing Line of Credit [Member] | Minimum [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||||
Equipment Financing Line of Credit [Member] | Prime Rate [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% |
Note 13 - Convertible Notes P_2
Note 13 - Convertible Notes Payable (Details Textual) - USD ($) | Apr. 08, 2020 | Nov. 30, 2021 | Nov. 30, 2020 | Oct. 25, 2020 | May 20, 2019 | Oct. 31, 2018 |
Convertible Notes Payable, Current | $ 6,950,000 | |||||
Gain (Loss) on Extinguishment of Debt, Total | $ 0 | $ (6,027,000) | ||||
Warrants Issued with April/ May 2019 Notes [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 832,106 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.50 | |||||
Warrants Issued with October 2018 Notes [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 510,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.50 | $ 2.50 | ||||
Convertible Notes Payable [Member] | ||||||
Amortization of Debt Discount (Premium) | 800,000 | |||||
Interest Expense, Total | 200,000 | |||||
Gain (Loss) on Extinguishment of Debt, Total | (6,000,000) | |||||
Convertible Notes Payable, Total | 5,400,000 | |||||
Interest Payable | $ 400,000 | |||||
Convertible Notes Payable Converted into Series A Preferred Stock [Member] | ||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 1,391 | |||||
Debt Conversion, Converted Instrument, Original Issue Price | $ 5,000 | |||||
Debt Conversion, Converted Instrument, Amount | $ 11,562,000 | |||||
Convertible Notes Payable Converted into Series A Preferred Stock and Warrants [Member] | ||||||
Debt Conversion, Converted Instrument, Amount | $ 11,800,000 | |||||
Conversion of Accrued Interest into Warrants [Member] | ||||||
Debt Conversion, Converted Instrument, Warrants or Options Issued (in shares) | 149,842 | |||||
Debt Conversion, Converted Instrument, Warrants Issued Per $1000 (in shares) | 400 |
Note 14 - Stockholders' Equit_2
Note 14 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Thousands | Apr. 27, 2021$ / shares | Apr. 09, 2021USD ($)$ / sharesshares | Jun. 08, 2020USD ($)$ / sharesshares | Jun. 03, 2020$ / sharesshares | Apr. 08, 2020USD ($)$ / sharesshares | Nov. 30, 2021USD ($)$ / sharesshares | Jul. 31, 2021USD ($)$ / sharesshares | Nov. 27, 2020USD ($)shares | Jul. 31, 2020$ / sharesshares | May 31, 2020USD ($)$ / sharesshares | Mar. 31, 2020USD ($)$ / sharesshares | Feb. 28, 2020$ / sharesshares | Jan. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2018shares | Aug. 31, 2020USD ($)$ / sharesshares | Nov. 30, 2021USD ($)$ / sharesshares | Nov. 30, 2020USD ($)$ / sharesshares | Oct. 25, 2020$ / shares | Feb. 29, 2020$ / shares | Oct. 31, 2018$ / sharesshares |
Stock Issued During Period, Shares, New Issues (in shares) | 2,875,000 | |||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 21 | |||||||||||||||||||
Stock Offering, Underwriting Discounts, Commissions, and Offering Expenses | $ | $ 4,400 | |||||||||||||||||||
Proceeds from Issuance of Common Stock, Net | $ | $ 56,000 | $ 55,952 | $ 0 | |||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||
Dividends Payable | $ | $ 1,043 | $ 1,043 | ||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||
Share Price (in dollars per share) | $ / shares | $ 6 | $ 2.50 | ||||||||||||||||||
Stock Issued During Period, Value, Warrants Exercised | $ | $ 1,277 | $ 8,028 | ||||||||||||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 585,739 | 4,207,667 | ||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 7,225 | |||||||||||||||||||
Warrant Inducement Expense | $ | $ 0 | 845 | ||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 7,200 | |||||||||||||||||||
Payroll Expense | $ | $ 40 | |||||||||||||||||||
Shares to be Issued, Value | $ | $ 20 | |||||||||||||||||||
Warrants Issued in April 2020 Exchange [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 149,842 | |||||||||||||||||||
Class of Warrant or Right, Issued During Period, Per Unit (in shares) | 400 | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.50 | |||||||||||||||||||
Warrants and Rights Outstanding | $ | $ 200 | |||||||||||||||||||
Conversion of Accrued Interest into Warrants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.50 | |||||||||||||||||||
Debt Conversion, Converted Instrument, Warrants or Options Issued (in shares) | 49,842 | |||||||||||||||||||
Stock Issued During Period, Value, Warrants Exercised | $ | $ 100 | |||||||||||||||||||
Debt Conversion, Converted Instrument, Warrants Issued Per $1000 (in shares) | 400 | |||||||||||||||||||
Accrued Interest Satisfied By Issuance of Warrants | $ | $ 100 | |||||||||||||||||||
Warrants Issued to Consultants [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.55 | $ 2.50 | ||||||||||||||||||
Class of Warrant Or Right, Granted in Period (in shares) | 15,000 | |||||||||||||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 75,000 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 68,319 | |||||||||||||||||||
Warrants Issued with October 2018 Notes [Member] | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 510,000 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.50 | $ 2.50 | ||||||||||||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 189,079 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 189,079 | |||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 500 | |||||||||||||||||||
Warrants Issued with 2017 Financing, Exercise Price 1.50 [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.50 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 57,235 | |||||||||||||||||||
Warrants Issued with 2017 Financing, Exercise Price 1.80 [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.80 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 1,777,388 | |||||||||||||||||||
Warrants Issued with 2017 Financing [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 1,834,623 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 1,834,623 | |||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 3,300 | |||||||||||||||||||
Warrants Issued with Private Placement [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.50 | |||||||||||||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 99,261 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 99,261 | |||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 200 | |||||||||||||||||||
Warrants [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,997,911 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.80 | $ 1.60 | $ 2.50 | |||||||||||||||||
Stock Issued During Period, Value, Warrants Exercised | $ | $ 3,200 | |||||||||||||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 11,793 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 11,793 | 1,997,911 | ||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 20 | |||||||||||||||||||
Warrant Inducement Expense | $ | $ 800 | |||||||||||||||||||
Warrants with Exercise Price of 2.50 [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 2.50 | $ 2.50 | ||||||||||||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 510,739 | |||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 510,739 | |||||||||||||||||||
Proceeds from Warrant Exercises | $ | $ 1,300 | |||||||||||||||||||
Incentive Stock Warrants [Member] | Marketing Consultant [Member] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.155 | $ 2.50 | ||||||||||||||||||
Warrants and Rights Outstanding | $ | $ 10 | |||||||||||||||||||
Class of Warrant Or Right, Granted in Period (in shares) | 150,000 | 15,000 | ||||||||||||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 75,000 | 75,000 | ||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 68,005 | 68,005 | ||||||||||||||||||
Exchange of Notes for Series A Preferred Stock [Member] | ||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 8,000 | |||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ | $ 7,000 | |||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 1,391 | |||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ | $ 11,600 | |||||||||||||||||||
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs | $ | $ 29 | |||||||||||||||||||
Reverse Stock Split [Member] | ||||||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 10 | |||||||||||||||||||
Series A Preferred Stock [Member] | ||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 5,000 | |||||||||||||||||||
Dividends Payable, Amount Per Share (in dollars per share) | $ / shares | $ 750 | |||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.001 | |||||||||||||||||||
Dividends Payable | $ | $ 1,000 | |||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 4,636,649 | |||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 695,498 | |||||||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in shares) | 3,333 | |||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 1.50 | |||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 10.00% | |||||||||||||||||||
Over-Allotment Option [Member] | ||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 375,000 |
Note 14 - Stockholders' Equit_3
Note 14 - Stockholders' Equity - Warrant Assumptions to Determine Grant Date Fair Value (Details) | Nov. 30, 2020 |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | |
Warrant assumptions | 0.0035 |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | |
Warrant assumptions | 0.0157 |
Measurement Input, Expected Dividend Rate [Member] | |
Warrant assumptions | 0 |
Measurement Input, Price Volatility [Member] | Minimum [Member] | |
Warrant assumptions | 0.9828 |
Measurement Input, Price Volatility [Member] | Maximum [Member] | |
Warrant assumptions | 1.0993 |
Measurement Input, Expected Term [Member] | Minimum [Member] | |
Warrant assumptions | 3.54 |
Measurement Input, Expected Term [Member] | Maximum [Member] | |
Warrant assumptions | 3.77 |
Measurement Input, Share Price [Member] | |
Warrant assumptions | 2.50 |
Measurement Input, Exercise Price [Member] | |
Warrant assumptions | 2.50 |
Note 14 - Stockholders' Equit_4
Note 14 - Stockholders' Equity - Summary of Warrants (Details) | 12 Months Ended | |
Nov. 30, 2021$ / sharesshares | Nov. 30, 2020$ / sharesshares | |
Outstanding, number of warrants (in shares) | shares | 585,739 | 4,578,722 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.40 | $ 2.20 |
Granted, number of warrants (in shares) | shares | 0 | 214,684 |
Granted, weighted average exercise price (in dollars per share) | $ 0 | $ 2.50 |
Exercised, number of warrants (in shares) | shares | (585,739) | (4,207,667) |
Exercised, weighted average exercise price (in dollars per share) | $ 2.40 | $ (2.10) |
Exercised, weighted average exercise price (in dollars per share) | $ (2.40) | $ 2.10 |
Outstanding, number of warrants (in shares) | shares | 0 | 585,739 |
Outstanding, weighted average exercise price (in dollars per share) | $ 0 | $ 2.40 |
Exercisable, number of warrants (in shares) | shares | 0 | 585,739 |
Exercisable, weighted average exercise price (in dollars per share) | $ 0 | $ 2.40 |
Total outstanding warrants, weighted-average remaining contract lives (Year) | 2 years 9 months 25 days | |
Total exercisable warrants, weighted-average remaining contract lives (Year) | 2 years 9 months 25 days |
Note 15 - Stock-based Compens_3
Note 15 - Stock-based Compensation (Details Textual) $ / shares in Units, $ in Thousands | Sep. 15, 2021shares | Aug. 31, 2020$ / shares | Nov. 30, 2021USD ($)$ / sharesshares | Aug. 31, 2020$ / sharesshares | Jul. 31, 2020$ / sharesshares | Dec. 31, 2018shares | Nov. 30, 2021USD ($)$ / sharesshares | Nov. 30, 2020USD ($)$ / sharesshares | Aug. 31, 2021$ / shares | Nov. 19, 2020shares |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 100,002 | 12,000 | ||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 585,739 | 4,207,667 | ||||||||
Share-based Payment Arrangement, Expense | $ | $ 3,200 | $ 1,300 | ||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ | $ 6,800 | $ 6,800 | $ 7,700 | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 25 days | 2 years 9 months 7 days | ||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 174,493 | 1,573,500 | ||||||||
Employees and Directors [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 62,000 | 434,250 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 100,002 | |||||||||
Shares Granted, Value, Share-based Payment Arrangement, Forfeited | $ | $ 200 | |||||||||
Non-employee Contractors [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 19,300 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares (in shares) | 11,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 8,300 | |||||||||
Marketing Consultant [Member] | Incentive Stock Warrants [Member] | ||||||||||
Class of Warrant Or Right, Granted in Period (in shares) | 150,000 | 15,000 | ||||||||
Number of Consultants | 2 | |||||||||
Class of Warrant or Right, Exercised in Period (in shares) | 75,000 | 75,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.155 | $ 2.50 | ||||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 68,005 | 68,005 | ||||||||
Warrants and Rights Outstanding | $ | $ 10 | |||||||||
Former Employee [Member] | ||||||||||
Severance Costs | $ | $ 900 | |||||||||
Former Employee [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations, Total (in shares) | 87,500 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 62,500 | |||||||||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 27,500 | |||||||||
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | $ | $ 400 | |||||||||
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings (in shares) | 35,000 | |||||||||
Restricted Stock, Value, Shares Issued Net of Tax Withholdings | $ | $ 500 | |||||||||
The 2017 Stock Option Plan (2017 Plan) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,899,327 | 1,899,327 | ||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 2,500,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 1,400,000 | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 174,493 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations, Total (in shares) | 3,873 | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 673,500 | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested or Expected to Vest, in Period (in shares) | 15,493 | 15,493 | ||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | Share-based Payment Arrangement, Employee [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, 20 Day Volume Weighted Average Closing Price (in dollars per share) | $ / shares | $ 30 | $ 30 | ||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member] | Share-based Payment Arrangement, Employee [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, 20 Day Volume Weighted Average Closing Price (in dollars per share) | $ / shares | $ 30 | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, 20 Day Volume Weighted Average Closing Price (in dollars per share) | $ / shares | $ 40 | $ 40 | ||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Three [Member] | Share-based Payment Arrangement, Employee [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 1.00% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, 20 Day Volume Weighted Average Closing Price (in dollars per share) | $ / shares | $ 40 | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Restricted Stock Units (RSUs) [Member] | Double Trigger Vesting [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested or Expected to Vest, in Period (in shares) | 150,000 | 150,000 | ||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 900,000 | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, 20 Day Volume Weighted Average Closing Price (in dollars per share) | $ / shares | $ 20 | $ 20 | ||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, 20 Day Volume Weighted Average Closing Price (in dollars per share) | $ / shares | $ 30 | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, 20 Day Volume Weighted Average Closing Price (in dollars per share) | $ / shares | $ 40 | $ 40 |
Note 15 - Stock-based Compens_4
Note 15 - Stock-based Compensation - Valuation Assumptions (Details) - $ / shares | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Share-based Payment Arrangement, Option [Member] | ||
Expected dividends | ||
Restricted Stock Units (RSUs) [Member] | ||
Risk free rate | 0.30% | 0.26% |
Expected dividends | 0.00% | 0.00% |
Expected volatility | 92.00% | 121.00% |
Expected life (in years) (Year) | 3 years | 3 years |
Exercise price (in dollars per share) | $ 0 | $ 0 |
Minimum [Member] | Share-based Payment Arrangement, Option [Member] | ||
Risk free rate | 0.26% | 0.00% |
Expected volatility | 80.00% | 118.00% |
Expected life (in years) (Year) | 4 years | 2 years |
Market price of the Company’s common stock on date of grant (in dollars per share) | $ 14.74 | $ 1.90 |
Exercise price (in dollars per share) | 14.90 | 1.90 |
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | ||
Market price of the Company’s common stock on date of grant (in dollars per share) | $ 20.9 | $ 14.10 |
Maximum [Member] | Share-based Payment Arrangement, Option [Member] | ||
Risk free rate | 0.64% | 1.68% |
Expected volatility | 113.00% | 144.00% |
Expected life (in years) (Year) | 5 years | 5 years |
Market price of the Company’s common stock on date of grant (in dollars per share) | $ 20.94 | $ 14.80 |
Exercise price (in dollars per share) | 20.20 | 15 |
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | ||
Market price of the Company’s common stock on date of grant (in dollars per share) | $ 26.9 | $ 15.80 |
Note 15 - Stock-based Compens_5
Note 15 - Stock-based Compensation - Summary of Stock Option Activity (Details) - $ / shares | 12 Months Ended | |||
Nov. 30, 2021 | Nov. 30, 2020 | |||
Outstanding, stock options (in shares) | 705,967 | [1] | 291,167 | |
Outstanding, weighted-average exercise price per stock option (in CAD per share) | $ 3.10 | [1] | $ 1.40 | |
Granted, stock options (in shares) | 62,000 | 453,550 | ||
Granted, weighted-average exercise price per share (in CAD per share) | $ 17.18 | $ 3.30 | ||
Expired, stock options (in shares) | (21,250) | |||
Expired, weighted-average exercise price per share (in CAD per share) | $ (2.10) | |||
Exercised, stock options (in shares) | (81,182) | (5,500) | ||
Exercised, weighted-average exercise price per share (in CAD per share) | $ (1.29) | $ (1.90) | ||
Cancelled, stock options (in shares) | (100,002) | (12,000) | ||
Cancelled, weighted-average exercise price per share (in CAD per share) | $ (5.91) | $ (13.80) | ||
Outstanding, stock options (in shares) | 586,783 | [2] | 705,967 | [1] |
Outstanding, weighted-average exercise price per stock option (in CAD per share) | $ 3.48 | [2] | $ 3.10 | [1] |
Exercisable, stock options (in shares) | 524,783 | [2] | 505,967 | [1] |
Total outstanding options (Year) | 3 years 25 days | 3 years 9 months 3 days | ||
Total exercisable options (Year) | 2 years 10 months 28 days | 3 years 6 months 10 days | ||
[1] | As of November 30, 2020 all options were governed by the 2017 Plan. | |||
[2] | As of November 30, 2021 all options were governed by the 2020 Plan. |
Note 15 - Stock-based Compens_6
Note 15 - Stock-based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) [Member] - shares | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Outstanding (in shares) | 1,573,500 | 0 |
Granted (in shares) | 174,493 | 1,573,500 |
Vested (in shares) | (62,500) | |
Cancelled (in shares) | (91,373) | |
Outstanding (in shares) | 1,594,120 | 1,573,500 |
Exercisable (in shares) | 0 |
Note 16 - Earnings Per Share -
Note 16 - Earnings Per Share - Allocation of Net Income (Loss) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Net loss | $ (3,283) | $ (12,553) |
Preferred stock dividends | (1,043) | 0 |
NET LOSS AVAILABLE TO COMMON SHAREHOLDERS | $ (4,326) | $ (12,553) |
Weighted-average number of common shares outstanding during the year – basic and diluted (in shares) | 19,610,039 | 12,678,747 |
Net loss per share - basic and diluted (in dollars per share) | $ (0.22) | $ (0.98) |
Note 16 - Earnings Per Share _2
Note 16 - Earnings Per Share - Summary of Antidilutive Securities (Details) - shares | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Antidilutive securities (in shares) | 2,180,903 | 7,501,855 |
Series A Preferred Stock [Member] | ||
Antidilutive securities (in shares) | 0 | 4,636,649 |
Warrant [Member] | ||
Antidilutive securities (in shares) | 0 | 585,739 |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive securities (in shares) | 586,783 | 705,967 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive securities (in shares) | 1,594,120 | 1,573,500 |
Note 17 - Related Party Trans_2
Note 17 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 7 Months Ended | 12 Months Ended | 24 Months Ended | ||
Jun. 30, 2020 | Nov. 30, 2021 | Nov. 30, 2020 | Nov. 30, 2018 | Nov. 30, 2021 | |
Related Party Transaction, Amounts of Transaction | $ 0 | $ 0 | |||
Share-based Payment Arrangement, Expense | 3,200 | 1,300 | |||
Stock Issued During Period, Value, Purchase of Assets | 693 | ||||
Chief Executive Officer [Member] | |||||
Related Party Transaction, Amounts of Transaction | 10 | 20 | |||
Related Party Transaction, Monthly Amounts of Transaction | $ 2 | ||||
Andre Buys [Member] | |||||
Related Party Transaction, Amounts of Transaction | 400 | $ 200 | |||
Due to Related Parties, Total | 100 | 200 | $ 100 | ||
Share-based Payment Arrangement, Expense | $ 10 | $ 20 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 150,000 | ||||
Andre Buys [Member] | Patents [Member] | |||||
Stock Issued During Period, Shares, Purchase of Assets (in shares) | 386,681 | ||||
Stock Issued During Period, Value, Purchase of Assets | $ 700 |
Note 18 - Leases (Details Textu
Note 18 - Leases (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Feb. 28, 2021 | Nov. 30, 2021 | Nov. 30, 2020 | Nov. 30, 2019 | |
Wilmington/Andover, Massachusetts [Member] | ||||
Maximum Allowance for Tenant Improvements | $ 200 | |||
Base Rent | $ 100 | |||
Lease Expiration Date | Feb. 29, 2028 | |||
SOUTH AFRICA | ||||
Operating Lease, Monthly Base Rent Expense | $ 5 | $ 4 | ||
Lease Expiration Date | Nov. 30, 2020 | |||
Fort Wayne, Indiana [Member] | ||||
Operating Lease, Monthly Base Rent Expense | $ 8 | |||
Lease Expiration Date | Jul. 31, 2025 | |||
Fort Wayne, Indiana [Member] | Lease Termination Agreement [Member] | ||||
Payments for Termination of Operating Lease | $ 20 | |||
Lease Expiration Date | Feb. 28, 2022 | |||
Las Vegas, Nevada [Member] | ||||
Operating Lease, Monthly Base Rent Expense | $ 4 | |||
Lease Expiration Date | Aug. 31, 2022 |
Note 18 - Leases - Elements of
Note 18 - Leases - Elements of Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Lease Cost: | ||
Operating lease cost | $ 350 | $ 198 |
Short-term lease cost | 5 | 25 |
Variable lease cost | 0 | 9 |
Total lease cost | 355 | 232 |
Other Information: | ||
Cash paid for amounts included in the measurement of operating lease liabilities | 316 | 310 |
Operating lease liabilities arising from obtaining right-of-use assets | $ 191 | $ 1,336 |
Weighted-average discount rate | 9.20% | 8.40% |
Note 18 - Leases - Future Lease
Note 18 - Leases - Future Lease Payments Under Non-cancelable Operating Leases (Details) $ in Thousands | Nov. 30, 2021USD ($) |
2022 | $ 319 |
2023 | 272 |
2024 | 280 |
2025 | 187 |
2026 | 128 |
Thereafter | 170 |
Total lease payments | 1,355 |
Less: imputed interest | 260 |
Total lease liabilities | $ 1,095 |
Note 19 - Income Taxes (Details
Note 19 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Deferred Tax Assets, Valuation Allowance, Total | $ 6,551 | $ 6,320 |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 300 | |
Percentage of Cumulative Ownership Change | 11.06% | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Subject to Expiration | $ 24,900 | |
Operating Loss Carryforwards, Not Subject to Expiration | 8,600 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Subject to Expiration | $ 11,400 |
Note 19 - Income Taxes - Loss B
Note 19 - Income Taxes - Loss Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
United States | $ (2,911) | $ (13,572) |
Foreign | (532) | 1,312 |
LOSS BEFORE INCOME TAXES | $ (3,443) | $ (12,260) |
Note 19 - Income Taxes - Compon
Note 19 - Income Taxes - Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Federal | $ 0 | $ 0 |
State | 14 | 0 |
Foreign | (165) | 293 |
Total current expense (benefit): | (151) | 293 |
Federal | 0 | 0 |
State | 0 | 0 |
Foreign | (9) | 0 |
Total deferred expense (benefit) | (9) | 0 |
Total income tax expense (benefit) | $ (160) | $ 293 |
Note 19 - Income Taxes - Reconc
Note 19 - Income Taxes - Reconciliation of Income Tax Rate (Details) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Income at US statutory rate | 21.00% | 21.00% |
State taxes, net of Federal benefit | (0.31%) | 6.58% |
Permanent differences | (0.34%) | (13.60%) |
Foreign Taxes | 6.34% | 0.00% |
Foreign rate differential | (4.52%) | (0.75%) |
Valuation allowance | (9.05%) | (12.30%) |
Other | (8.52%) | (3.32%) |
Total | 4.60% | (2.39%) |
Note 19 - Income Taxes - Net De
Note 19 - Income Taxes - Net Deferred Income Tax Asset (Details) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Depreciation and amortization | $ (412) | $ (270) |
Stock compensation | 1,103 | 335 |
Inventory reserve | 95 | 29 |
Bad debt reserve | 3 | 3 |
Accrued payroll | 363 | 183 |
Warranty reserve | 160 | 90 |
Foreign tax credit carryforwards | 9 | 0 |
Unrealized gain/(loss) on investments | 4 | 0 |
Net operating loss (“NOL”) carryforwards | 5,226 | 5,950 |
Total deferred tax assets | 6,551 | 6,320 |
Valuation allowance | (6,551) | (6,320) |
Net deferred tax assets (liabilities) | $ 0 | $ 0 |
Note 20 - Commitments and Con_2
Note 20 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
CO2 Pistols [Member] | ||
Initial Royalty, Percentage of Net Price | 2.50% | |
Net Price Per 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] | ||
Initial Royalty, Percentage of Net Price | 4.00% | |
Andre Buys [Member] | ||
Other Commitment, to be Paid, Year One | $ 25 | |
Royalty Expense | $ 400 | $ 200 |
Note 21 - Exclusive Supply an_2
Note 21 - Exclusive Supply and Purchase Agreements (Details Textual) - BIP Manufacturer [Member] - USD ($) $ in Thousands | Aug. 01, 2017 | Nov. 30, 2021 | Nov. 30, 2020 |
Term of Agreement (Year) | 4 years | ||
Extension for Additional Term of Agreement (Year) | 1 year | ||
Period Required for Written Notice of Termination in Order to Prevent Automatic Extension of Agreement (Day) | 60 days | ||
Purchases from Manufacturer | $ 20 | $ 200 |
Note 22 - Segment and Geograp_3
Note 22 - Segment and Geographical Disclosures (Details Textual) | 12 Months Ended |
Nov. 30, 2021 | |
Number of Reportable Segments | 1 |
Number of Operating Segments | 1 |
Note 22 - Segment and Geograp_4
Note 22 - Segment and Geographical Disclosure - Summary of Revenue, Long-lived Assets and Total Assets by Geographical Region (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Revenue | $ 42,160 | $ 16,566 |
Long-lived assets | 8,019 | 3,850 |
Total assets | 75,314 | 21,216 |
UNITED STATES | ||
Revenue | 38,690 | 15,497 |
Long-lived assets | 7,101 | 3,575 |
Total assets | 70,399 | 18,525 |
SOUTH AFRICA | ||
Revenue | 3,470 | 1,069 |
Long-lived assets | 918 | 275 |
Total assets | $ 4,915 | $ 2,691 |
Note 23 - Financial Instrumen_2
Note 23 - Financial Instruments (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent, Total | $ (44) | $ 66 |
US Tax Rate Percentage of Fluctuation | 10.00% |
Note 24 - Subsequent Events (De
Note 24 - Subsequent Events (Details Textual) - USD ($) $ in Thousands | Dec. 05, 2021 | Dec. 01, 2021 | Feb. 11, 2022 | Nov. 30, 2021 |
Las Vegas, Nevada [Member] | ||||
Operating Lease, Monthly Base Rent Expense | $ 4 | |||
Fort Wayne, Indiana [Member] | ||||
Operating Lease, Monthly Base Rent Expense | $ 8 | |||
Subsequent Event [Member] | ||||
Stock Repurchase Program, Authorized Amount | $ 30,000 | |||
Stock Repurchase Program, Period in Force (Year) | 2 years | |||
Subsequent Event [Member] | Las Vegas, Nevada [Member] | ||||
Operating Lease, Monthly Base Rent Expense | $ 4 | |||
Subsequent Event [Member] | Fort Wayne, Indiana [Member] | ||||
Lessee, Operating Lease, Lease Not yet Commenced, Monthly Base Rent Expense | $ 20 |