Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
May 31, 2022 | Jul. 01, 2022 | |
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 | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | May 31, 2022 | |
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, $0.001, par value per share | |
Trading Symbol | BYRN | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 24,016,560 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | May 31, 2022 | Nov. 30, 2021 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 25,847 | $ 56,308 |
Restricted cash | 0 | 92 |
Accounts receivable, net | 2,549 | 1,658 |
Inventory, net | 13,468 | 6,613 |
Prepaid expenses and other current assets | 1,827 | 1,490 |
Total current assets | 43,691 | 66,161 |
LONG TERM ASSETS | ||
Intangible assets, net | 3,991 | 3,668 |
Deposits for equipment | 2,475 | 1,293 |
Right-of-use asset, net | 1,462 | 1,086 |
Property and equipment, net | 2,490 | 1,972 |
Goodwill | 2,245 | 816 |
Other assets | 364 | 318 |
TOTAL ASSETS | 56,718 | 75,314 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 8,688 | 6,996 |
Operating lease liabilities, current | 522 | 463 |
Deferred revenue, current | 357 | 720 |
Total current liabilities | 9,567 | 8,179 |
LONG TERM LIABILITIES | ||
Deferred revenue - non-current | 410 | 405 |
Operating lease liabilities, non-current | 1,059 | 632 |
Total liabilities | 11,036 | 9,216 |
COMMITMENTS AND CONTINGENCIES (NOTE 21) | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued | 0 | 0 |
Common stock, $0.001 par value, 50,000,000 shares authorized. 24,008,219 shares issued and 22,228,261 outstanding as of May 31, 2022 and, 23,754,096 shares issued and outstanding as of November 30, 2021 | 23 | 23 |
Additional paid-in capital | 120,375 | 119,589 |
Treasury stock (1,779,958 and 0 shares purchased as of May 31, 2022 and November 30, 2021, respectively) | (15,000) | 0 |
Accumulated deficit | (59,715) | (53,498) |
Accumulated other comprehensive loss | (1) | (16) |
Total Stockholders’ Equity | 45,682 | 66,098 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 56,718 | $ 75,314 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | May 31, 2022 | Nov. 30, 2021 |
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) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 24,008,219 | 23,754,096 |
Common stock, shares outstanding (in shares) | 23,754,096 | |
Treasury stock, shares (in shares) | 1,779,958 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Net revenue | $ 11,619 | $ 13,401 | $ 19,596 | $ 22,294 |
Cost of goods sold | 5,495 | 5,839 | 8,858 | 9,991 |
Gross profit | 6,124 | 7,562 | 10,738 | 12,303 |
Operating expenses | 8,739 | 5,539 | 16,762 | 10,691 |
INCOME (LOSS) FROM OPERATIONS | (2,615) | 2,023 | (6,024) | 1,612 |
OTHER INCOME (EXPENSE) | ||||
Foreign currency transaction gain (loss) | (274) | 214 | (96) | 192 |
Interest income (expense) | 13 | (9) | 14 | (37) |
Other income - forgiveness of Paycheck Protection Program loan | 0 | 0 | 0 | 190 |
Other expenses | (69) | (8) | (180) | (9) |
INCOME (LOSS) BEFORE INCOME TAXES | (2,945) | 2,220 | (6,286) | 1,948 |
Income tax benefit (provision) | (51) | (183) | 69 | (183) |
NET INCOME (LOSS) | (2,996) | 2,037 | (6,217) | 1,765 |
Dividends on preferred stock | 0 | 1,043 | 0 | 1,043 |
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS | (2,996) | 994 | (6,217) | 722 |
Foreign currency translation adjustment for the period | 9 | 120 | 14 | 178 |
COMPREHENSIVE INCOME (LOSS) | $ (2,987) | $ 2,157 | $ (6,203) | $ 1,943 |
Net income (loss) per share – basic (in dollars per share) | $ (0.13) | $ 0.06 | $ (0.27) | $ 0.04 |
Weighted-average number of common shares outstanding - basic (in shares) | 23,097,150 | 17,800,749 | 23,443,766 | 16,359,496 |
Net income per share – diluted (in dollars per share) | $ (0.13) | $ 0.05 | $ (0.27) | $ 0.04 |
Weighted-average number of common shares outstanding - diluted (in shares) | 23,097,150 | 18,989,231 | 23,443,766 | 17,604,131 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
May 31, 2022 | May 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) for the period | $ (6,217) | $ 1,765 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Stock-based compensation expense | 1,373 | 1,546 |
Incentive compensation | 1,415 | 0 |
Forgiveness of Paycheck Protection Program loan | 0 | (190) |
Depreciation and amortization | 381 | 226 |
Operating lease costs | 4 | 116 |
Changes in assets and liabilities: | ||
Accounts receivable | (803) | 138 |
Deferred revenue | (373) | (3,227) |
Inventory | (6,857) | (1,230) |
Prepaid expenses and other current assets | (346) | 422 |
Other assets | (62) | (7) |
Accounts payable and accrued liabilities | (806) | (2,358) |
Operating lease liabilities | 108 | (65) |
NET CASH USED IN OPERATING ACTIVITIES | (12,183) | (2,864) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of property and equipment | (1,963) | (116) |
Purchases of patent rights | (12) | (37) |
Cash paid for asset acquisition, net of cash acquired | (1,933) | (3,702) |
NET CASH USED IN INVESTING ACTIVITIES | (3,908) | (3,855) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from warrant exercises | 0 | 1,217 |
Proceeds from stock option exercises | 458 | 35 |
Payment of debt issuance costs | 0 | (83) |
Proceeds from line of credit | 1,500 | |
Repurchase of common stock | (15,000) | 0 |
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (14,542) | 2,669 |
Effects of foreign currency exchange rate changes | 80 | (261) |
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH FOR THE PERIOD | (30,553) | (4,311) |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD | 56,400 | 9,656 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD | $ 25,847 | $ 5,345 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Options One [Member] Preferred Stock [Member] Series A Preferred Stock [Member] | Options One [Member] Common Stock [Member] | Options One [Member] Treasury Stock [Member] | Options One [Member] Additional Paid-in Capital [Member] | Options One [Member] Retained Earnings [Member] | Options One [Member] AOCI Attributable to Parent [Member] | Options One [Member] | Options Two [Member] Preferred Stock [Member] Series A Preferred Stock [Member] | Options Two [Member] Common Stock [Member] | Options Two [Member] Treasury Stock [Member] | Preferred Stock [Member] Series A Preferred Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Nov. 30, 2020 | 1,391 | 14,852,023 | 0 | ||||||||||||||
Balance at Nov. 30, 2020 | $ 0 | $ 15 | $ 0 | $ 58,581 | $ (50,215) | $ 28 | $ 8,409 | ||||||||||
Stock-based compensation | 0 | 0 | 0 | 1,546 | 0 | 0 | 1,546 | ||||||||||
Issuance of common stock pursuant to exercise of stock options (in shares) | 0 | 22,667 | 0 | ||||||||||||||
Issuance of common stock pursuant to exercise of stock options | $ 0 | $ 0 | $ 0 | $ 35 | $ 0 | $ 0 | $ 35 | ||||||||||
Net income (loss) | 0 | 0 | 0 | 0 | 1,765 | 0 | 1,765 | ||||||||||
Foreign currency translation adjustment for the period | $ 0 | $ 0 | $ 0 | 0 | 0 | 178 | 178 | ||||||||||
Conversion of preferred shares and accrued dividends on preferred shares (in shares) | (1,391) | 5,332,147 | 0 | ||||||||||||||
Conversion of preferred shares and accrued dividends on preferred shares | $ 0 | $ 5 | $ 0 | 1,038 | 1,043 | ||||||||||||
Warrant exercises | 0 | 0 | 0 | 1,217 | 0 | 0 | 1,217 | ||||||||||
Dividends declared on preferred shares | (1,043) | (1,043) | |||||||||||||||
Balance (in shares) at May. 31, 2021 | 0 | 20,693,521 | 0 | ||||||||||||||
Balance at May. 31, 2021 | $ 0 | $ 20 | $ 0 | 61,374 | (48,450) | 206 | 13,150 | ||||||||||
Cancellation of shares | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | ||||||||||
Balance (in shares) at Feb. 28, 2021 | 1,391 | 14,920,109 | 0 | ||||||||||||||
Balance at Feb. 28, 2021 | $ 0 | $ 15 | $ 0 | 59,430 | (50,487) | 86 | 9,044 | ||||||||||
Stock-based compensation | 0 | 0 | 0 | 853 | 0 | 0 | 853 | ||||||||||
Issuance of common stock pursuant to exercise of stock options (in shares) | 0 | 8,000 | 0 | 0 | 433,265 | 0 | |||||||||||
Issuance of common stock pursuant to exercise of stock options | $ 0 | $ 0 | $ 0 | $ 13 | $ 0 | $ 0 | $ 13 | ||||||||||
Net income (loss) | 0 | 0 | 0 | 0 | 2,037 | 0 | 2,037 | ||||||||||
Foreign currency translation adjustment for the period | $ 0 | $ 0 | $ 0 | 0 | 0 | 120 | 120 | ||||||||||
Conversion of preferred shares and accrued dividends on preferred shares (in shares) | (1,391) | 5,332,147 | 0 | ||||||||||||||
Conversion of preferred shares and accrued dividends on preferred shares | $ 0 | $ 5 | $ 0 | 1,038 | 0 | 0 | 1,043 | ||||||||||
Warrant exercises | 0 | 0 | 0 | 1,083 | 0 | 0 | 1,083 | ||||||||||
Dividends declared on preferred shares | $ 0 | $ 0 | $ 0 | (1,043) | 0 | 0 | (1,043) | ||||||||||
Balance (in shares) at May. 31, 2021 | 0 | 20,693,521 | 0 | ||||||||||||||
Balance at May. 31, 2021 | $ 0 | $ 20 | $ 0 | 61,374 | (48,450) | 206 | 13,150 | ||||||||||
Balance (in shares) at Nov. 30, 2021 | 0 | 23,754,096 | 0 | ||||||||||||||
Balance at Nov. 30, 2021 | $ 0 | $ 23 | $ 0 | 119,589 | (53,498) | (16) | 66,098 | ||||||||||
Stock-based compensation | $ 0 | $ 0 | $ 0 | 1,372 | 0 | 0 | $ 1,372 | ||||||||||
Issuance of common stock pursuant to exercise of stock options (in shares) | 0 | 250,250 | 0 | 250,250 | |||||||||||||
Issuance of common stock pursuant to exercise of stock options | $ 0 | $ 0 | $ 0 | 457 | 0 | 0 | $ 457 | ||||||||||
Repurchase of common shares under Stock Buyback Plan (in shares) | 0 | 0 | (1,779,958) | ||||||||||||||
Repurchase of common shares under Stock Buyback Plan | $ 0 | $ 0 | $ (15,000) | 0 | 0 | 0 | (15,000) | ||||||||||
Reclassification of stock-based compensation plan modification | 0 | 0 | 0 | (1,043) | 0 | 0 | (1,043) | ||||||||||
Net income (loss) | 0 | 0 | 0 | 0 | (6,217) | 0 | (6,217) | ||||||||||
Foreign currency translation adjustment for the period | $ 0 | $ 0 | $ 0 | 0 | 0 | 14 | 14 | ||||||||||
Balance (in shares) at May. 31, 2022 | 0 | 24,008,219 | (1,779,958) | ||||||||||||||
Balance at May. 31, 2022 | $ 0 | $ 23 | $ (15,000) | 120,375 | (59,715) | (1) | 45,682 | ||||||||||
Issuance of common stock pursuant to exercise of restricted stock units (in shares) | 0 | 3,873 | 0 | ||||||||||||||
Issuance of common stock pursuant to exercise of restricted stock units | $ 0 | $ 0 | $ 0 | 0 | 0 | 0 | 0 | ||||||||||
Balance (in shares) at Feb. 28, 2022 | 0 | 23,960,588 | (296,168) | ||||||||||||||
Balance at Feb. 28, 2022 | $ 0 | $ 23 | $ (2,654) | 120,767 | (56,719) | (10) | 61,407 | ||||||||||
Stock-based compensation | $ 0 | $ 0 | $ 0 | 560 | 0 | 0 | 560 | ||||||||||
Issuance of common stock pursuant to exercise of stock options (in shares) | 0 | 47,631 | 0 | ||||||||||||||
Issuance of common stock pursuant to exercise of stock options | $ 0 | $ 0 | $ 0 | 90 | 0 | 0 | 90 | ||||||||||
Repurchase of common shares under Stock Buyback Plan (in shares) | 0 | 0 | (1,483,790) | ||||||||||||||
Repurchase of common shares under Stock Buyback Plan | $ 0 | $ 0 | $ (12,346) | 0 | 0 | 0 | (12,346) | ||||||||||
Reclassification of stock-based compensation plan modification | 0 | 0 | 0 | (1,043) | 0 | 0 | (1,043) | ||||||||||
Net income (loss) | 0 | 0 | 0 | (2,996) | 0 | (2,996) | |||||||||||
Foreign currency translation adjustment for the period | $ 0 | $ 0 | $ 0 | 0 | 9 | 9 | |||||||||||
Balance (in shares) at May. 31, 2022 | 0 | 24,008,219 | (1,779,958) | ||||||||||||||
Balance at May. 31, 2022 | $ 0 | $ 23 | $ (15,000) | $ 120,375 | $ (59,715) | $ (1) | $ 45,682 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 6 Months Ended |
May 31, 2022 | |
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 6, The Company was incorporated under the laws of the state of Delaware on March 1, 2005. May 12, 2021, August 18, 2021, May 25, 2022, 6, |
Note 2 - Operations and Managem
Note 2 - Operations and Management Plans | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Operations and Management Plans Disclosure [Text Block] | 2. OPERATIONS AND MANAGEMENT PLANS From inception to May 31, 2022 six May 31, 2022 In July 2021, 15, one On February 15, 2022, March 2022. April 28, May 2022. |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 3. BASIS OF PRESENTATION These condensed consolidated financial statements for the three six May 31, 2022 2021 10 not The unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto together with management’s discussion and analysis of financial condition and results of operations contained in the Company's annual report on Form 10 November 30, 2021. three six May 31, 2022 2021, six May 31, 2022 2021 not |
Note 4 - Use of Estimates
Note 4 - Use of Estimates | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Use of Estimates [Text Block] | 4. USE OF ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Future events and their effects cannot be determined with certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results could differ from those estimates, and any such differences may |
Note 5 - Recent Accounting Guid
Note 5 - Recent Accounting Guidance | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 5. RECENT ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance In 2019, 2019 12, 740 Simplifying the Accounting for Income Taxes not first 2022. 2019 12 not Accounting Guidance Issued But Not In January 2017, 2017 04, Intangibles - Goodwill and Other (Topic 350 2017 04” 2 2017 04 first 2024. In 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13” 2016 13 December 2023 |
Note 6 - Acquisitions
Note 6 - Acquisitions | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 6. ACQUISITIONS Asset Acquisition On May 12, 2021, Business Combination Fox Labs International On May 25, 2022, no 10 one The estimated fair values of assets acquired and liabilities assumed on May 25, 2022 Cash $ 241 Accounts receivable 100 Inventory 44 Trademarks 360 Customer list intangible 70 Accounts payable (56) Deferred revenue (14) Goodwill 1,429 Total acquired assets $ 2,174 Ballistipax® On August 18, 2021, two |
Note 7 - Restricted Cash
Note 7 - Restricted Cash | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | 7. RESTRICTED CASH The Company’s restricted cash - current was $0 and $0.1 million at May 31, 2022 November 30, 2021 January 2022. |
Note 8 - Revenue, Deferred Reve
Note 8 - Revenue, Deferred Revenue and Accounts Receivable | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Revenue, Deferred Revenue and Accounts Receivable [Text Block] | 8. REVENUE, DEFERRED REVENUE AND ACCOUNTS RECEIVABLE The Company generates revenue through the wholesale distribution of its products and accessories to dealers/distributors, and retail sales to large end-users such as security companies and law enforcement agencies, and through e-commerce portals 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 14 14 14 three six May 31, 2022 2021 The Company sells to dealers and retailers for whom there is no may may three six May 31, 2022 2021 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 Condensed 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. Allowance for Doubtful Accounts The Company provides an allowance for its accounts receivable for estimated losses that may may May 31, 2022 November 30, 2021 December 1, 2020. Deferred Revenue Changes in deferred revenue, which relate to unfulfilled e-commerce orders and amounts to be recognized under extended 3 six May 31, 2022 November 30, 2021 May 31, November 30, 2022 2021 Deferred revenue balance, beginning of period $ 1,125 $ 4,902 Net additions to deferred revenue during the period 13,095 33,641 Reductions in deferred revenue for revenue recognized during the period (13,453 ) (37,418 ) Deferred revenue balance, end of period 767 1,125 Less current portion 357 720 Deferred revenue, non-current $ 410 $ 405 Revenue Disaggregation The following table presents disaggregation of the Company’s revenue by distribution channel (in thousands): Three Months Ended Six Months Ended May 31, May 31, Distribution channel 2022 2021 2022 2021 Wholesale (dealer/distributors) $ 4,679 $ 2,107 $ 6,434 $ 3,776 E-commerce 6,940 11,294 13,162 18,518 Total $ 11,619 $ 13,401 $ 19,596 $ 22,294 |
Note 9 - Property and Equipment
Note 9 - Property and Equipment | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9. PROPERTY AND EQUIPMENT The following table summarizes cost and accumulated depreciation as of May 31, 2022 November 30, 2021 May 31, November 30, 2022 2021 Computer equipment and software $ 331 $ 275 Furniture and fixtures 328 208 Leasehold improvements 606 157 Machinery and equipment 1,793 1,738 3,058 2,378 Less: accumulated depreciation 568 406 Total $ 2,490 $ 1,972 The Company recognized approximately $0.3 million in depreciation expense during the six May 31, 2022 2021 $0.1 three May 31, 2022 2021 At May 31, 2022 November 30, 2021 not |
Note 10 - Inventory
Note 10 - Inventory | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 10. INVENTORY The following table summarizes inventory as of May 31, 2022 November 30, 2021 May 31, November 30, 2022 2021 Raw materials $ 3,605 $ 3,175 Work in process 101 428 Finished goods 9,762 3,010 Total $ 13,468 $ 6,613 |
Note 11 - Intangible Assets
Note 11 - Intangible Assets | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 11. INTANGIBLE ASSETS On May 25, 2022, On August 18, 2021, two 2038, On May 12, 2021, January 2037 2038, On April 13, 2018, November 2033 2038, Patent amortization expenses are recorded within operating expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss. Total patent/trademark amortization expense for the six May 31, 2022 2021 three May 31, 2022 2021 |
Note 12 - Accounts Payable and
Note 12 - Accounts Payable and Accrued Liabilities | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 12. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The Company’s accounts payable and accrued liabilities consist of the following (in thousands): May 31, November 30, 2022 2021 Trade payables $ 2,712 $ 2,793 Accrued sales and use tax 798 940 Accrued people costs 1,436 2,317 Accrued incentive compensation 2,459 — Accrued marketing 335 185 Accrued professional fees 265 617 Other accrued liabilities 683 144 Total $ 8,688 $ 6,996 |
Note 13 - Notes Payable
Note 13 - Notes Payable | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Notes Payable Disclosure [Text Block] | 13. 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, six May 31, 2021. The SBA reserves the right to audit any PPP loan, regardless of size. These audits may six |
Note 14 - Lines of Credit
Note 14 - Lines of Credit | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 14. LINES OF CREDIT On January 19, 2021, May 31, 2022 January 19, 2024. Also on January 19, 2021, May 31, 2022 January 19, 2024. As of May 31, 2022 not six May 31, 2022 |
Note 15 - Stockholders' Equity
Note 15 - Stockholders' Equity | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 15. STOCKHOLDERS EQUITY Authorized Shares and Increase in Stock Compensation Plan At the Company's 2022 June 17, 2022 ( June 17, 2022. 2020 Stock Buyback Plan On February 15, 2022, April 30, 2022 March 2022. On April 28, 2022, May 2022. The following table summarizes the treasury stock activity during the six May 31, 2022 Number of Average Cost Shares Cost of Shares per Share Shares purchased - February 2022 296,168 $ 2,653,571 $ 9.0 Shares purchased - March 2022 754,081 7,346,422 $ 9.7 Shares purchased - May 2022 729,709 4,999,993 $ 6.9 Total 1,779,958 $ 14,999,986 $ 8.4 |
Note 16 - Stock-based Compensat
Note 16 - Stock-based Compensation | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 16. 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 On October 23, 2020, November 19, 2020 2020 “2020 2020 April 26, 2022, June 17, 2022 2020 2020 may 2020 On February 24, 2021, 2017 2017 2020 2020 2017 no 2017 2020 2020 2017 no 2020 no 2020 Stock-Based Compensation Expense Total stock-based compensation expense was $1.6 million for each of the six May 31, 2022 2021 three May 31, 2022 2021 During the first 2022, 2020 21, 2020 not 718, Compensation - Stock Compensation three six May 31, 2022 three six Additionally, on March 23, 2022, May 31, 2022, 2020 not 718, Compensation - Stock Compensation, not three six May 31, 2022 three six May 31, 2022 three six On June 17, 2022, June 17, 2022 Restricted Stock Units During the six May 31, 2022 2021 six May 31, 2022 2021 During the six May 31, 2022 first 2022, not not no no As of May 31, 2022 The following table summarizes the RSU activity during the six May 31, 2022 RSUs Unvested and outstanding as of November 30, 2021 1,594,120 Granted 626 Settled (3,874 ) Cancelled (778,750 ) Forfeited (25,000 ) Unvested and outstanding at May 31, 2022 787,122 There will be 122,500 RSUs granted upon approval of the Board of Directors, of which none Stock Options During the six May 31, 2022 2021 six May 31, 2022 2021 three May 31, 2022 2021 As of May 31, 2022 The following table summarizes option activity under the 2020 six May 31, 2022 Weighted-Average Stock Exercise Price Per Stock Options Option Outstanding, November 30, 2021 586,783 Exercised (250,250 ) $ 1.82 Forfeited (16,000 ) $ 14.77 Outstanding, May 31, 2022 320,533 $ 4.22 Exercisable, May 31, 2022 274,534 $ 1.90 There will be 994,750 stock options granted upon approval of the Board of Directors, of which none |
Note 17 - Earnings Per Share
Note 17 - Earnings Per Share | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 17. EARNINGS PER SHARE For the three six May 31, 2022 three six May 31, 2022 not For the Three Months Ended For the Six Months Ended May 31, May 31, 2022 2022 Stock Options 320,533 320,533 Restricted stock units 787,122 787,122 Total 1,107,655 1,107,655 For the three six May 31, 2021 three six May 31, 2021. The following table sets forth the allocation of net loss for the three six May 31, 2022 2021 For the Three Months Ended For the Six Months Ended May 31, May 31, 2022 2021 2022 2021 Net income (loss) $ (2,996 ) $ 2,037 $ (6,217 ) $ 1,765 Preferred stock dividends — (1,043 ) — (1,043 ) Net loss available to common shareholders $ (2,996 ) $ 994 $ (6,217 ) $ 722 Weighted-average number of shares used in computing net loss per share, basic 23,097,150 17,800,749 23,443,766 16,359,496 Net income (loss) per share -- basic $ (0.13 ) $ 0.06 $ (0.27 ) $ 0.04 Weighted-average number of shares used in computing net income per share, diluted 23,097,150 18,989,231 23,443,766 17,604,131 Net income per share -- diluted $ (0.13 ) $ 0.05 $ (0.27 ) $ 0.04 For the three six May 31, 2022 may The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three six May 31, 2022 2021: For the Three Months Ended For the Six Months Ended May 31, May 31, 2022 2021 2022 2021 Weighted-average common shares outstanding- basic 23,097,150 17,800,749 23,443,766 16,359,496 Assumed conversion of: Dilutive Stock Options — 597,214 — 600,918 Dilutive Warrants — 304,883 — 399,332 Dilutive RSUs — 286,385 — 244,385 Weighted-average common share outstanding- diluted 23,097,150 18,989,231 23,443,766 17,604,131 1,155,000 RSUs outstanding during the three six May 31, 2021 not 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: For the Three Months Ended For the Six Months Ended May 31, 2021 May 31, 2021 Antidilutive securities: Options 638,000 518,000 RSUs 50,000 68,493 Total antidilutive securities 688,000 586,493 |
Note 18 - Related Party Transac
Note 18 - Related Party Transactions | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 18. 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 and due on demand. The Company expensed $0 and approximately $0.1 million for royalties due to the Company’s Chief Technology Officer ("CTO"), during the six May 31, 2022 2021 May 31, 2022 November 30, 2021 December 2021. 21, $0 six May 31, 2022 2021 2018 11, The Company authorized the granting of 200,000 RSUs in exchange to waive all future rights and entitlements to the CTO. Refer to Note 21, The Company subleases office premises at its Massachusetts headquarters to a corporation owned and controlled by the Chief Executive Officer ("CEO") of the Company beginning July 1, 2020, no six May 31, 2022 2021 three May 31, 2022 2021 |
Note 19 - Leases
Note 19 - Leases | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Leases [Text Block] | 19. LEASES Operating Leases The Company has operating leases for real estate in the United States and South Africa and does not In 2019, August 2021, one February 29, 2028 . The Company leases office and warehouse space in South Africa that expires in November 2024 six May 31, 2022 October 2021, October 31, 2022. The Company leases warehouse and manufacturing space in Fort Wayne, Indiana. The lease expires on July 31, 2025 November 2021, August 2022. July 31, 2027. may The Company also leases office space in Las Vegas, Nevada. The lease expires on August 31, 2022 not December 1, 2021, January 31, 2027. 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 May 31, 2022 2021 Three Months Ended Six Months Ended May 31, 2022 May 31, 2022 Lease Cost: Operating lease cost $ 114 $ 218 Short-term lease cost 4 8 Total lease cost $ 118 $ 226 Other Information: Cash paid for amounts included in the measurement of operating lease liabilities $ 119 $ 108 Operating lease liabilities arising from obtaining right-of-use assets $ 100 $ 326 Operating Leases: Weighted-average remaining lease term (in years) 4.7 Weighted-average discount rate 9.2 % Future lease payments under non-cancelable operating leases as of May 31, 2022 Fiscal Year Ending November 30, 2022 (six months) $ 228 2023 427 2024 438 2025 326 2026 254 Thereafter 269 Total lease payments 1,942 Less: imputed interest 362 Total lease liabilities $ 1,580 |
Note 20 - Income Taxes
Note 20 - Income Taxes | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 20. INCOME TAXES For the three May 31, 2022 2021 three May 31, 2022 2021 six May 31, 2022 2021 six May 31, 2022 2021 |
Note 21 - Commitments and Conti
Note 21 - Commitments and Contingencies | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 21. COMMITMENTS AND CONTINGENCIES Royalty Payment Pursuant to the Purchase and Sale Agreement, dated April 13, 2018 December 19, 2019, CO2 2 first 2 On January 7, 2022, 2020 two January 7, 2022. not first 2022 three May 31, 2022 2021 COVID- 19 CARES ) Act On January 30, 2020, 19 March 2020, 19 The full impact of the COVID- 19 may 19 not 19 2022. The Company faces various risks related to COVID- 19 19 may may 19 may not 19 no may 19 may Legal Proceedings In the ordinary course of our business, the Company may may not may may |
Note 22 - Segment and Geographi
Note 22 - Segment and Geographical Disclosures | 6 Months Ended |
May 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 22. SEGMENT AND GEOGRAPHICAL DISCLOSURES The CEO, who is also the Chief Operating Decision Maker, evaluates the business as a single entity, which includes reviewing financial information and making business decisions based on the overall results of the business. As such, the Company’s operations constitute a single operating segment and one The tables below summarize the Company’s revenue for the three six May 31, 2022 2021 Revenue: Three Months Ended U.S. South Africa Europe/South America/Asia Canada Total May 31, 2022 $ 8,911 $ 1,262 $ 1,423 $ 23 $ 11,619 May 31, 2021 12,868 533 — — 13,401 Six Months Ended U.S. South Africa Europe/South America/Asia Canada Total May 31, 2022 $ 16,793 $ 1,357 $ 1,423 $ 23 $ 19,596 May 31, 2021 21,325 969 — — 22,294 |
Note 23 - Financial Instruments
Note 23 - Financial Instruments | 6 Months Ended |
May 31, 2022 | |
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 U.S. in U.S. dollars and with banks in South Africa in U.S. dollars and South African rand. The Company’s operations are conducted in the U.S. and South Africa. The value of the South African rand against the U.S. dollar may During the three six May 31, 2022 six May 31, 2022 2021 The Company’s South African subsidiary revenues, cost of goods sold, operating costs and capital expenditures are denominated in South African rand. Consequently, fluctuations in the U.S. dollar exchange rate against the South African rand increases the volatility of sales, cost of goods sold and operating costs and overall net earnings when translated into U.S. dollars. The Company is not 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 6 - Acquisitions (Tables)
Note 6 - Acquisitions (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Cash $ 241 Accounts receivable 100 Inventory 44 Trademarks 360 Customer list intangible 70 Accounts payable (56) Deferred revenue (14) Goodwill 1,429 Total acquired assets $ 2,174 |
Note 8 - Revenue, Deferred Re_2
Note 8 - Revenue, Deferred Revenue and Accounts Receivable (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | May 31, November 30, 2022 2021 Deferred revenue balance, beginning of period $ 1,125 $ 4,902 Net additions to deferred revenue during the period 13,095 33,641 Reductions in deferred revenue for revenue recognized during the period (13,453 ) (37,418 ) Deferred revenue balance, end of period 767 1,125 Less current portion 357 720 Deferred revenue, non-current $ 410 $ 405 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Six Months Ended May 31, May 31, Distribution channel 2022 2021 2022 2021 Wholesale (dealer/distributors) $ 4,679 $ 2,107 $ 6,434 $ 3,776 E-commerce 6,940 11,294 13,162 18,518 Total $ 11,619 $ 13,401 $ 19,596 $ 22,294 |
Note 9 - Property and Equipme_2
Note 9 - Property and Equipment (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | May 31, November 30, 2022 2021 Computer equipment and software $ 331 $ 275 Furniture and fixtures 328 208 Leasehold improvements 606 157 Machinery and equipment 1,793 1,738 3,058 2,378 Less: accumulated depreciation 568 406 Total $ 2,490 $ 1,972 |
Note 10 - Inventory (Tables)
Note 10 - Inventory (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | May 31, November 30, 2022 2021 Raw materials $ 3,605 $ 3,175 Work in process 101 428 Finished goods 9,762 3,010 Total $ 13,468 $ 6,613 |
Note 12 - Accounts Payable an_2
Note 12 - Accounts Payable and Accrued Liabilities (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | May 31, November 30, 2022 2021 Trade payables $ 2,712 $ 2,793 Accrued sales and use tax 798 940 Accrued people costs 1,436 2,317 Accrued incentive compensation 2,459 — Accrued marketing 335 185 Accrued professional fees 265 617 Other accrued liabilities 683 144 Total $ 8,688 $ 6,996 |
Note 15 - Stockholders' Equity
Note 15 - Stockholders' Equity (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Class of Treasury Stock [Table Text Block] | Number of Average Cost Shares Cost of Shares per Share Shares purchased - February 2022 296,168 $ 2,653,571 $ 9.0 Shares purchased - March 2022 754,081 7,346,422 $ 9.7 Shares purchased - May 2022 729,709 4,999,993 $ 6.9 Total 1,779,958 $ 14,999,986 $ 8.4 |
Note 16 - Stock-based Compens_2
Note 16 - Stock-based Compensation (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | RSUs Unvested and outstanding as of November 30, 2021 1,594,120 Granted 626 Settled (3,874 ) Cancelled (778,750 ) Forfeited (25,000 ) Unvested and outstanding at May 31, 2022 787,122 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted-Average Stock Exercise Price Per Stock Options Option Outstanding, November 30, 2021 586,783 Exercised (250,250 ) $ 1.82 Forfeited (16,000 ) $ 14.77 Outstanding, May 31, 2022 320,533 $ 4.22 Exercisable, May 31, 2022 274,534 $ 1.90 |
Note 17 - Earnings Per Share (T
Note 17 - Earnings Per Share (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | For the Three Months Ended For the Six Months Ended May 31, May 31, 2022 2022 Stock Options 320,533 320,533 Restricted stock units 787,122 787,122 Total 1,107,655 1,107,655 For the Three Months Ended For the Six Months Ended May 31, 2021 May 31, 2021 Antidilutive securities: Options 638,000 518,000 RSUs 50,000 68,493 Total antidilutive securities 688,000 586,493 |
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table Text Block] | For the Three Months Ended For the Six Months Ended May 31, May 31, 2022 2021 2022 2021 Net income (loss) $ (2,996 ) $ 2,037 $ (6,217 ) $ 1,765 Preferred stock dividends — (1,043 ) — (1,043 ) Net loss available to common shareholders $ (2,996 ) $ 994 $ (6,217 ) $ 722 Weighted-average number of shares used in computing net loss per share, basic 23,097,150 17,800,749 23,443,766 16,359,496 Net income (loss) per share -- basic $ (0.13 ) $ 0.06 $ (0.27 ) $ 0.04 Weighted-average number of shares used in computing net income per share, diluted 23,097,150 18,989,231 23,443,766 17,604,131 Net income per share -- diluted $ (0.13 ) $ 0.05 $ (0.27 ) $ 0.04 |
Schedule of Weighted Average Number of Shares [Table Text Block] | For the Three Months Ended For the Six Months Ended May 31, May 31, 2022 2021 2022 2021 Weighted-average common shares outstanding- basic 23,097,150 17,800,749 23,443,766 16,359,496 Assumed conversion of: Dilutive Stock Options — 597,214 — 600,918 Dilutive Warrants — 304,883 — 399,332 Dilutive RSUs — 286,385 — 244,385 Weighted-average common share outstanding- diluted 23,097,150 18,989,231 23,443,766 17,604,131 |
Note 19 - Leases (Tables)
Note 19 - Leases (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended Six Months Ended May 31, 2022 May 31, 2022 Lease Cost: Operating lease cost $ 114 $ 218 Short-term lease cost 4 8 Total lease cost $ 118 $ 226 Other Information: Cash paid for amounts included in the measurement of operating lease liabilities $ 119 $ 108 Operating lease liabilities arising from obtaining right-of-use assets $ 100 $ 326 Operating Leases: Weighted-average remaining lease term (in years) 4.7 Weighted-average discount rate 9.2 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal Year Ending November 30, 2022 (six months) $ 228 2023 427 2024 438 2025 326 2026 254 Thereafter 269 Total lease payments 1,942 Less: imputed interest 362 Total lease liabilities $ 1,580 |
Note 22 - Segment and Geograp_2
Note 22 - Segment and Geographical Disclosures (Tables) | 6 Months Ended |
May 31, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Revenue: Three Months Ended U.S. South Africa Europe/South America/Asia Canada Total May 31, 2022 $ 8,911 $ 1,262 $ 1,423 $ 23 $ 11,619 May 31, 2021 12,868 533 — — 13,401 Six Months Ended U.S. South Africa Europe/South America/Asia Canada Total May 31, 2022 $ 16,793 $ 1,357 $ 1,423 $ 23 $ 19,596 May 31, 2021 21,325 969 — — 22,294 |
Note 1 - Nature of Operations (
Note 1 - Nature of Operations (Details Textual) | May 31, 2022 a ft² |
Number of Facilities | 2 |
Fort Wayne, Indiana [Member] | |
Area of Real Estate Property (Acre) | a | 30,000 |
Pretoria South Africa [Member] | |
Area of Real Estate Property (Acre) | ft² | 10,000 |
Note 2 - Operations and Manag_2
Note 2 - Operations and Management Plans (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 4 Months Ended | 6 Months Ended | ||||||||
Apr. 28, 2022 | May 31, 2022 | Mar. 31, 2022 | Feb. 28, 2022 | Jul. 31, 2021 | May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2022 | May 31, 2021 | Feb. 15, 2022 | Nov. 30, 2021 | |
Retained Earnings (Accumulated Deficit), Total | $ (59,715,000) | $ (59,715,000) | $ (59,715,000) | $ (59,715,000) | $ (53,498,000) | |||||||
Revenue from Contract with Customer, Excluding Assessed Tax | 11,619,000 | $ 13,401,000 | 19,596,000 | $ 22,294,000 | ||||||||
Net Income (Loss) Available to Common Stockholders, Basic, Total | (2,996,000) | $ 994,000 | (6,217,000) | $ 722,000 | ||||||||
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 | $ 4,400,000 | |||||||||||
Proceeds from Issuance of Common Stock, Net | $ 56,000,000 | |||||||||||
Treasury Stock, Value, Acquired, Cost Method | 4,999,993 | $ 7,346,422 | $ 2,653,571 | $ 12,346,000 | $ 14,999,986 | $ 15,000,000 | ||||||
Stock Buyback Plan [Member] | ||||||||||||
Stock Repurchase Program, Authorized Amount | $ 10,000,000 | |||||||||||
Stock Repurchase Program, Authorized Amount, Addition | $ 5,000,000 | |||||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 5,000,000 | $ 10,000,000 | ||||||||||
Over-Allotment Option [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 375,000 |
Note 6 - Acquisitions (Details
Note 6 - Acquisitions (Details Textual) - USD ($) $ in Millions | May 25, 2022 | Aug. 18, 2021 | May 12, 2021 |
Fox Labs International [Member] | |||
Business Combination, Consideration Transferred, Total | $ 2.2 | ||
Kore [Member] | |||
Asset Acquisition, Consideration Transferred, Total | $ 3.7 | ||
Asset Acquisition, Consideration Transferred, Transaction Cost | $ 0.2 | ||
Ballistipax [Member] | |||
Asset Acquisition, Consideration Transferred, Total | $ 0.3 |
Note 6 - Acquisitions - Busines
Note 6 - Acquisitions - Business Combination (Details) - USD ($) $ in Thousands | May 31, 2022 | May 25, 2022 | Nov. 30, 2021 |
Goodwill | $ 2,245 | $ 816 | |
Fox Labs International [Member] | |||
Cash | $ 241 | ||
Accounts receivable | 100 | ||
Inventory | 44 | ||
Accounts payable | (56) | ||
Deferred revenue | (14) | ||
Goodwill | 1,429 | ||
Total acquired assets | 2,174 | ||
Fox Labs International [Member] | Customer Lists [Member] | |||
Customer list intangible | 70 | ||
Fox Labs International [Member] | Trademarks [Member] | |||
Trademarks | $ 360 |
Note 7 - Restricted Cash (Detai
Note 7 - Restricted Cash (Details Textual) - USD ($) $ in Thousands | May 31, 2022 | Nov. 30, 2021 |
Restricted Cash, Current | $ 0 | $ 92 |
Note 8 - Revenue, Deferred Re_3
Note 8 - Revenue, Deferred Revenue and Accounts Receivable (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Feb. 28, 2022 | May 31, 2022 | Nov. 30, 2021 | |
Standard Product Warranty, Term (Year) | 1 year | ||
Extended Product Warranty, Term (Year) | 3 years | ||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 10 | $ 10 |
Note 8 - Revenue, Deferred Re_4
Note 8 - Revenue, Deferred Revenue and Accounts Receivable - Summary of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
May 31, 2022 | Nov. 30, 2021 | |
Deferred revenue balance, beginning of period | $ 1,125 | $ 4,902 |
Net additions to deferred revenue during the period | 13,095 | 33,641 |
Reductions in deferred revenue for revenue recognized during the period | (13,453) | (37,418) |
Deferred revenue balance, end of period | 767 | 1,125 |
Less current portion | 357 | 720 |
Deferred revenue, non-current | $ 410 | $ 405 |
Note 8 - Revenue, Deferred Re_5
Note 8 - Revenue, Deferred Revenue and Accounts Receivable - Revenue Disaggregation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 11,619 | $ 13,401 | $ 19,596 | $ 22,294 |
Wholesale (Dealer/Distributors and Large End-Users) [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,679 | 2,107 | 6,434 | 3,776 |
E-commerce [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 6,940 | $ 11,294 | $ 13,162 | $ 18,518 |
Note 9 - Property and Equipme_3
Note 9 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | Nov. 30, 2021 | |
Depreciation, Total | $ 100 | $ 100 | $ 300 | $ 300 | |
Deposits Assets, Noncurrent | $ 2,475 | 2,475 | $ 1,293 | ||
Operating Expense [Member] | |||||
Depreciation, Total | 90 | ||||
Cost of Sales [Member] | |||||
Depreciation, Total | $ 100 |
Note 9 - Property and Equipme_4
Note 9 - Property and Equipment - Summary of Cost and Accumulated Depreciation (Details) - USD ($) $ in Thousands | May 31, 2022 | Nov. 30, 2021 |
Property, plant and equipment, gross | $ 3,058 | $ 2,378 |
Less: accumulated depreciation | 568 | 406 |
Total | 2,490 | 1,972 |
Computer Equipment and Software [Member] | ||
Property, plant and equipment, gross | 331 | 275 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 328 | 208 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | 606 | 157 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | $ 1,793 | $ 1,738 |
Note 10 - Inventory - Summary o
Note 10 - Inventory - Summary of Inventory (Details) - USD ($) $ in Thousands | May 31, 2022 | Nov. 30, 2021 |
Raw materials | $ 3,605 | $ 3,175 |
Work in process | 101 | 428 |
Finished goods | 9,762 | 3,010 |
Total | $ 13,468 | $ 6,613 |
Note 11 - Intangible Assets (De
Note 11 - Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
May 25, 2022 | Aug. 18, 2021 | May 12, 2021 | May 31, 2022 | Feb. 28, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Amortization of Intangible Assets | $ 60 | $ 20 | $ 100 | $ 30 | ||||
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 | |||||||
Patents [Member] | Purchase and Sale Agreement with Andre Buys [Member] | ||||||||
Finite-lived Intangible Assets Acquired | $ 900 | |||||||
Patents [Member] | Maximum [Member] | Purchase and Sale Agreement with Andre Buys [Member] | ||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | |||||||
Patents [Member] | Minimum [Member] | Purchase and Sale Agreement with Andre Buys [Member] | ||||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 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 | |||||||
Ballistipax [Member] | Patents [Member] | ||||||||
Finite-lived Intangible Assets Acquired | $ 60 | |||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 17 years | |||||||
Trademarks [Member] | Fox Labs International [Member] | ||||||||
Indefinite-Lived Intangible Assets Acquired | $ 400 |
Note 12 - Accounts Payable an_3
Note 12 - Accounts Payable and Accrued Liabilities - Summary of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands | May 31, 2022 | Nov. 30, 2021 |
Trade payables | $ 2,712 | $ 2,793 |
Accrued sales and use tax | 798 | 940 |
Accrued people costs | 1,436 | 2,317 |
Accrued incentive compensation | 2,459 | 0 |
Accrued marketing | 335 | 185 |
Accrued professional fees | 265 | 617 |
Other accrued liabilities | 683 | 144 |
Total | $ 8,688 | $ 6,996 |
Note 13 - Notes Payable (Detail
Note 13 - Notes Payable (Details Textual) - USD ($) $ in Millions | Feb. 10, 2021 | May 04, 2020 |
Paycheck Protection Program, CARES Act [Member] | ||
Proceeds from Bank Debt | $ 0.2 | $ 0.2 |
Note 14 - Lines of Credit (Deta
Note 14 - Lines of Credit (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | ||
Jan. 19, 2021 | May 31, 2022 | Feb. 28, 2022 | |
Debt Issuance Costs, Line of Credit Arrangements, Gross | $ 100 | ||
Amortization of Debt Issuance Costs | $ 10 | ||
Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000 | ||
Line of Credit Facility, Interest Rate at Period End | 3.25% | ||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ||
Long-term Line of Credit, Total | $ 0 | ||
Revolving Credit Facility [Member] | Minimum [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4% | ||
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 | ||
Line of Credit Facility, Interest Rate at Period End | 3.25% | ||
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% | ||
Equipment Financing Line of Credit [Member] | Prime Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.50% |
Note 15 - Stockholders' Equit_2
Note 15 - Stockholders' Equity (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 4 Months Ended | 6 Months Ended | |||||
Jun. 17, 2022 | Apr. 28, 2022 | May 31, 2022 | Mar. 31, 2022 | Feb. 28, 2022 | May 31, 2022 | May 31, 2022 | May 31, 2022 | Feb. 15, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 300,000,000 | 300,000,000 | 300,000,000 | 300,000,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Limited (in shares) | 2,500,000 | 2,500,000 | 2,500,000 | 2,500,000 | |||||
Treasury Stock, Value, Acquired, Cost Method | $ 4,999,993 | $ 7,346,422 | $ 2,653,571 | $ 12,346,000 | $ 14,999,986 | $ 15,000,000 | |||
Stock Buyback Plan [Member] | |||||||||
Stock Repurchase Program, Authorized Amount | $ 10,000,000 | ||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 5,000,000 | $ 10,000,000 | |||||||
Stock Repurchase Program, Authorized Amount, Addition | $ 5,000,000 | ||||||||
Subsequent Event [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 50,000,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Limited, Increased (in shares) | 1,300,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Limited (in shares) | 3,800,000 |
Note 15 - Stockholders' Equit_3
Note 15 - Stockholders' Equity - Treasury Stock Activity (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 4 Months Ended | 6 Months Ended | ||
May 31, 2022 | Mar. 31, 2022 | Feb. 28, 2022 | May 31, 2022 | May 31, 2022 | May 31, 2022 | |
Number of shares (in shares) | 729,709 | 754,081 | 296,168 | 1,779,958 | ||
Cost of shares | $ 4,999,993 | $ 7,346,422 | $ 2,653,571 | $ 12,346,000 | $ 14,999,986 | $ 15,000,000 |
Average cost per share (in dollars per share) | $ 6.9 | $ 9.7 | $ 9 | $ 8.4 |
Note 16 - Stock-based Compens_3
Note 16 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 17, 2022 | Mar. 23, 2022 | May 31, 2022 | Feb. 28, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | Jan. 07, 2022 | Nov. 30, 2021 | Nov. 19, 2020 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 300,000,000 | 300,000,000 | ||||||||
Share-Based Payment Arrangement, Expense | $ 800 | $ 800 | $ 1,600 | $ 1,600 | ||||||
Percentage of RSUs Exchanged for Stock Options | 50% | |||||||||
Number of RSUs Exchanged for Stock Options (in shares) | 778,750 | |||||||||
Fair Value Adjustment of Obligation to Issue Stock Options | $ (300) | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 16,000 | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | 300 | $ 300 | ||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-Based Payment Arrangement, Expense | $ 1,300 | $ 1,600 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 626 | 1,573,500 | ||||||||
Share-Based Payment Arrangement, Plan Modification, Incremental Cost | 800 | $ 800 | ||||||||
Share-Based Payment Arrangement, Plan Modification, Reclassified from Paid in Capital to Liability | 1,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised (in shares) | 3,874 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 25,000 | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 3,100 | $ 3,100 | ||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 6 days | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 122,500 | 122,500 | 200,000 | |||||||
Restricted Stock Units (RSUs) [Member] | CTO [Member] | ||||||||||
Share-Based Payment Arrangement, Expense | $ 500 | $ 1,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 200,000 | |||||||||
Restricted Stock Units (RSUs) [Member] | Former Employee [Member] | ||||||||||
Share-Based Payment Arrangement, Plan Modification, Incremental Cost | 400 | 400 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 25,000 | |||||||||
Restricted Stock Units (RSUs) [Member] | Former Director [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised (in shares) | 3,873 | |||||||||
Modified Rewards [Member] | ||||||||||
Share-Based Payment Arrangement, Expense | $ 300 | $ 300 | ||||||||
Share-Based Payment Arrangement, Option [Member] | ||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 18 days | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 994,750 | 994,750 | ||||||||
Subsequent Event [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 50,000,000 | |||||||||
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 | |||||||||
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 | |||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Employees and Directors [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 0 | 29,000 | ||||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Share-Based Payment Arrangement, Option [Member] | Employees and Directors [Member] | ||||||||||
Share-Based Payment Arrangement, Expense | $ 50 | $ 90 | $ 100 | $ 200 | ||||||
The 2020 Equity Incentive Plan (2020 Plan) [Member] | Subsequent Event [Member] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 3,800,000 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 1,300,000 |
Note 16 - Stock-based Compens_4
Note 16 - Stock-based Compensation - Summary of RSU Activity (Details) - shares | 6 Months Ended | |
May 31, 2022 | May 31, 2021 | |
Forfeited (in shares) | (16,000) | |
Restricted Stock Units (RSUs) [Member] | ||
Unvested and outstanding (in shares) | 1,594,120 | |
Granted (in shares) | 626 | 1,573,500 |
Settled (in shares) | (3,874) | |
Cancelled (in shares) | (778,750) | |
Forfeited (in shares) | (25,000) | |
Unvested and outstanding (in shares) | 787,122 |
Note 16 - Stock-based Compens_5
Note 16 - Stock-based Compensation - Summary of Stock Option Activity (Details) - $ / shares | 6 Months Ended |
May 31, 2022 | |
Outstanding, stock options (in shares) | 586,783 |
Outstanding, weighted-average exercise price per stock option (in dollars per share) | |
Exercised, stock options (in shares) | (250,250) |
Exercised, weighted-average exercise price per share (in dollars per share) | $ 1.82 |
Forfeited, stock options (in shares) | (16,000) |
Forfeited, weighted-average exercise price per share (in dollars per share) | $ 14.77 |
Outstanding, stock options (in shares) | 320,533 |
Outstanding, weighted-average exercise price per stock option (in dollars per share) | $ 4.22 |
Exercisable, stock options (in shares) | 274,534 |
Exercisable, weighted-average exercise price per share (in dollars per share) | $ 1.90 |
Note 17 - Earnings Per Share (D
Note 17 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended |
May 31, 2021 | May 31, 2021 | |
Restricted Stock Units (RSUs) [Member] | ||
Contingently Issuable Shares (in shares) | 1,155,000 | 1,155,000 |
Note 17 - Earnings Per Share -
Note 17 - Earnings Per Share - Summary of Antidilutive Securities (Details) - shares | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Antidilutive Securities (in shares) | 1,107,655 | 688,000 | 1,107,655 | 586,493 |
Share-Based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities (in shares) | 320,533 | 638,000 | 320,533 | 518,000 |
Restricted Stock Units (RSUs) [Member] | ||||
Antidilutive Securities (in shares) | 787,122 | 50,000 | 787,122 | 68,493 |
Note 17 - Earnings Per Share _2
Note 17 - Earnings Per Share - Allocation of Net Income (Loss) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Net income (loss) | $ (2,996) | $ 2,037 | $ (6,217) | $ 1,765 |
Preferred stock dividends | 0 | (1,043) | 0 | (1,043) |
Net loss available to common shareholders | $ (2,996) | $ 994 | $ (6,217) | $ 722 |
Weighted-average number of common shares outstanding - basic (in shares) | 23,097,150 | 17,800,749 | 23,443,766 | 16,359,496 |
Net income (loss) per share – basic (in dollars per share) | $ (0.13) | $ 0.06 | $ (0.27) | $ 0.04 |
Weighted-average number of common shares outstanding - diluted (in shares) | 23,097,150 | 18,989,231 | 23,443,766 | 17,604,131 |
Net income per share – diluted (in dollars per share) | $ (0.13) | $ 0.05 | $ (0.27) | $ 0.04 |
Note 17 - Earnings Per Share _3
Note 17 - Earnings Per Share - Weighted Average Number of Shares Outstanding Reconciliation (Details) - shares | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Weighted-average number of common shares outstanding - basic (in shares) | 23,097,150 | 17,800,749 | 23,443,766 | 16,359,496 |
Dilutive Stock Options (in shares) | 0 | 597,214 | 0 | 600,918 |
Dilutive Warrants (in shares) | 0 | 304,883 | 0 | 399,332 |
Dilutive RSUs (in shares) | 0 | 286,385 | 0 | 244,385 |
Weighted-average common share outstanding- diluted (in shares) | 23,097,150 | 18,989,231 | 23,443,766 | 17,604,131 |
Note 18 - Related Party Trans_2
Note 18 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | Nov. 30, 2018 | Nov. 30, 2021 | |
Share-Based Payment Arrangement, Expense | $ 800 | $ 800 | $ 1,600 | $ 1,600 | ||
Chief Executive Officer [Member] | ||||||
Related Party Transaction, Amounts of Transaction | 10 | $ 5 | 20 | 10 | ||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-Based Payment Arrangement, Expense | $ 1,300 | 1,600 | ||||
Restricted Stock Units (RSUs) [Member] | Chief Technology Officer [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 200,000 | |||||
Andre Buys [Member] | ||||||
Related Party Transaction, Amounts of Transaction | $ 0 | 100 | ||||
Due to Related Parties, Total | $ 0 | 0 | $ 100 | |||
Share-Based Payment Arrangement, Expense | $ 0 | $ 4 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 150,000 |
Note 19 - Leases (Details Textu
Note 19 - Leases (Details Textual) $ in Thousands | 6 Months Ended |
May 31, 2022 USD ($) | |
Wilmington/Andover, Massachusetts [Member] | |
Operating Lease, Monthly Base Rent Expense | $ 15 |
Lease Expiration Date | Feb. 29, 2028 |
SOUTH AFRICA | |
Operating Lease, Monthly Base Rent Expense | $ 5 |
Lease Expiration Date | Nov. 30, 2024 |
Fort Wayne, Indiana [Member] | |
Operating Lease, Monthly Base Rent Expense | $ 8 |
Lease Expiration Date | Jul. 31, 2025 |
Las Vegas, Nevada [Member] | |
Operating Lease, Monthly Base Rent Expense | $ 4 |
Lease Expiration Date | Aug. 31, 2022 |
Note 19 - Leases - Elements of
Note 19 - Leases - Elements of Lease Expense (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
May 31, 2022 USD ($) | May 31, 2022 USD ($) | |
Operating lease cost | $ 114 | $ 218 |
Short-term lease cost | 4 | 8 |
Total lease cost | 118 | 226 |
Cash paid for amounts included in the measurement of operating lease liabilities | 119 | 108 |
Operating lease liabilities arising from obtaining right-of-use assets | $ 100 | $ 326 |
Operating Leases, Weighted-average remaining lease term (Year) | 4 years 8 months 12 days | 4 years 8 months 12 days |
Weighted-average discount rate | 9.20% | 9.20% |
Note 19 - Leases - Future Lease
Note 19 - Leases - Future Lease Payments Under Non-cancelable Operating Leases (Details) $ in Thousands | May 31, 2022 USD ($) |
2022 (six months) | $ 228 |
2023 | 427 |
2024 | 438 |
2025 | 326 |
2026 | 254 |
Thereafter | 269 |
Total lease payments | 1,942 |
Less: imputed interest | 362 |
Total lease liabilities | $ 1,580 |
Note 20 - Income Taxes (Details
Note 20 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Income Tax Expense (Benefit), Total | $ 51 | $ 183 | $ (69) | $ 183 |
Effective Income Tax Rate Reconciliation, Percent, Total | (1.60%) | 0% | 1.10% | 0% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% |
Note 21 - Commitments and Con_2
Note 21 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | ||
Jan. 07, 2022 | May 31, 2022 | May 31, 2021 | |
Royalty Expense | $ 0 | ||
Incentive Compensation Expense | $ 1,415 | $ 0 | |
Restricted Stock Units (RSUs) [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 200,000 | 122,500 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | ||
Incentive Compensation Expense | $ 400 | ||
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% | ||
Initial Royalty Percentage for New Products in Category | 2.50% | ||
Fintail Projectiles [Member] | |||
Initial Royalty, Percentage of Net Price | 4% | ||
Andre Buys [Member] | |||
Other Commitment, to be Paid, Year One | $ 25 | ||
Royalty Expense | $ 0 | $ 100 |
Note 22 - Segment and Geograp_3
Note 22 - Segment and Geographical Disclosures (Details Textual) | 6 Months Ended |
May 31, 2022 | |
Number of Reportable 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 | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Revenue | $ 11,619 | $ 13,401 | $ 19,596 | $ 22,294 |
UNITED STATES | ||||
Revenue | 8,911 | 12,868 | 16,793 | 21,325 |
SOUTH AFRICA | ||||
Revenue | 1,262 | 533 | 1,357 | 969 |
Europe/South America/Asia [Member] | ||||
Revenue | 1,423 | 0 | 1,423 | 0 |
CANADA | ||||
Revenue | $ 23 | $ 0 | $ 23 | $ 0 |
Note 23 - Financial Instrumen_2
Note 23 - Financial Instruments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
May 31, 2022 | May 31, 2021 | May 31, 2022 | May 31, 2021 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent, Total | $ 9 | $ 120 | $ 14 | $ 178 |
US Tax Rate Percentage of Fluctuation | 10% | |||
SOUTH AFRICA | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent, Total | $ 90 |