Art's-Way Manufacturing (ARTW) 10-Q 6 Oct 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Aug. 31, 2017	Oct. 02, 2017
Document Information [Line Items]
Entity Registrant Name	ARTS WAY MANUFACTURING CO INC
Entity Central Index Key	7,623
Trading Symbol	artw
Current Fiscal Year End Date	--11-30
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		4,158,752
Document Type	10-Q
Document Period End Date	Aug. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Aug. 31, 2017	Nov. 30, 2016
Current assets:
Cash	$ 393,276	$ 1,063,716
Accounts receivable-customers, net of allowance for doubtful accounts of $36,642 and $22,746 in 2017 and 2016, respectively	2,416,119	1,420,051
Inventories, net	13,180,464	13,529,352
Deferred income taxes		1,066,740
Cost and profit in excess of billings	9,867	108,349
Income taxes receivable		265,924
Assets of discontinued operations	22,034	9,700
Other current assets	315,064	158,087
Total current assets	16,336,824	17,621,919
Property, plant, and equipment, net	6,076,275	7,387,187
Assets held for lease, net	1,232,940
Assets held for sale, net	70,000	70,000
Goodwill	375,000	375,000
Other assets of discontinued operations	1,714,198	1,745,528
Deferred income taxes	649,054
Other assets	37,487	42,956
Total assets	26,491,778	27,242,590
Current liabilities:
Line of credit	3,734,114	3,284,114
Current portion of long-term debt	2,374,665	1,807,937
Accounts payable	1,340,209	469,481
Customer deposits	124,225	289,195
Billings in Excess of Cost and Profit	88,800	4,297
Accrued expenses	1,033,694	1,019,056
Liabilites of discontinued operations	656,058	182,426
Income taxes payable	3,100
Total current liabilities	9,354,865	7,056,506
Long-term liabilities
Deferred taxes		737,519
Long-term liabilities of discontinued operations		585,168
Long-term debt, excluding current portion	268,805	1,387,118
Total liabilities	9,623,670	9,766,311
Commitments and Contingencies (Notes 7 and 8)
Stockholders’ equity:
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2017 and 2016; issued 0 shares in 2017 and 2016.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2017 and 2016; issued 4,158,752 in 2017 and 4,109,052 in 2016	41,587	41,091
Additional paid-in capital	2,838,238	2,746,509
Retained earnings	14,236,529	14,990,911
Accumulated other comprehensive income	(241,821)	(302,232)
Treasury stock, at cost (1,838 in 2017 and 0 in 2016 shares)	(6,425)
Total stockholders’ equity	16,868,108	17,476,279
Total liabilities and stockholders’ equity	$ 26,491,778	$ 27,242,590

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Aug. 31, 2017	Nov. 30, 2016
Allowance for doubtful accounts	$ 36,642	$ 22,746
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	500,000	500,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	9,500,000	9,500,000
Common stock, issued (in shares)	4,158,752	4,109,052
Common stock, outstanding (in shares)	4,158,752	4,109,052
Treasury stock (in shares)	1,838	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Sales	$ 6,549,772	$ 6,431,217	$ 15,660,294	$ 17,441,869
Cost of goods sold	5,104,826	5,189,532	12,290,041	13,088,340
Gross profit	1,444,946	1,241,685	3,370,253	4,353,529
Expenses:
Engineering	107,944	123,653	372,932	314,794
Selling	432,562	456,037	1,401,003	1,352,875
General and administrative	795,200	879,160	2,560,894	2,618,488
Total expenses	1,335,706	1,458,850	4,334,829	4,286,157
Income (Loss) from operations	109,240	(217,165)	(964,576)	67,372
Other income (expense):
Interest expense	(92,351)	(60,537)	(235,398)	(182,510)
Other	75,236	53,884	190,155	116,181
Total other income (expense)	(17,115)	(6,653)	(45,243)	(66,329)
Income (Loss) from continuing operations before income taxes	92,125	(223,818)	(1,009,819)	1,043
Income tax expense (benefit)	50,477	(74,142)	(288,919)	236
Income (Loss) from continuing operations	41,648	(149,676)	(720,900)	807
Discontinued Operations
Income (loss) from operations of discontinued segment	(26,449)	(207,203)	(49,238)	(387,321)
Income tax expense (benefit)	(8,008)	(68,600)	(15,756)	(122,636)
Income (Loss) on discontinued operations	(18,441)	(138,603)	(33,482)	(264,685)
Net Income (Loss)	$ 23,207	$ (288,279)	$ (754,382)	$ (263,878)
Earnings (Loss) per share - Basic:
Continuing Operations (in dollars per share)	$ 0.01	$ (0.04)	$ (0.17)	$ 0
Discontinued Operations (in dollars per share)		(0.03)	(0.01)	(0.06)
Net Income (Loss) per share (in dollars per share)	0.01	(0.07)	(0.18)	(0.06)
Earnings (Loss) per share - Diluted:
Continuing Operations (in dollars per share)	0.01	(0.04)	(0.17)	0
Discontinued Operations (in dollars per share)		(0.03)	(0.01)	(0.06)
Net Income (Loss) per share (in dollars per share)	$ 0.01	$ (0.07)	$ (0.18)	$ (0.06)
Weighted average outstanding shares used to compute basic net income per share (in shares)	4,161,421	4,105,704	4,148,966	4,093,993
Weighted average outstanding shares used to compute diluted net income per share (in shares)	4,161,421	4,105,704	4,148,966	4,093,993

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Net Income (Loss)	$ 23,207	$ (288,279)	$ (754,382)	$ (263,878)
Other Comprehensive Income (Loss)
Foreign currency translation adjustsments	65,509		60,411
Total Other Comprehensive Income (Loss)	65,509		60,411
Comprehensive (Loss)	$ 88,716	$ (288,279)	$ (693,971)	$ (263,878)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Cash flows from operations:
Net income (loss) from continuing operations	$ (720,900)	$ 807
Net (loss) from discontinued operations	(33,482)	(264,685)
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Stock based compensation	92,225	70,846
Unrealized foreign currency loss
Impairment of Asset Available for Sale
(Gain)/Loss on disposal of property, plant, and equipment	20,824	(26,473)
Depreciation and amortization expense	516,642	516,904
Impairment of goodwill
Bad debt expense	15,452	24,527
Deferred income taxes	(319,833)	(64,969)
Changes in assets and liabilities:
Accounts receivable	(1,011,520)	(842,313)
Inventories	348,888	1,517,567
Income taxes receivable	265,924	192,041
Other assets	(155,776)	(233,758)
Accounts payable	870,377	622,394
Contracts in progress, net	182,985	(147,356)
Customer deposits	(164,970)	(100,631)
Income taxes payable	3,100
Accrued expenses	14,638	(247,339)
Net cash provided by (used in) operating activities - continuing operations	(41,944)	1,282,247
Net cash provided by (used in) operating activities - discontinued operations	(69,028)	82,632
Net cash provided by (used in) operating activities	(110,972)	1,364,879
Cash flows from investing activities:
Purchases of property, plant, and equipment	(472,031)	(114,376)
Net proceeds from sale of assets	17,156	1,173,492
Net cash provided by (used in) investing activities - continuing operations	(454,875)	1,059,116
Net cash provided by (used in) investing activities - discontinued operations	40,936	(19,068)
Net cash provided by (used in) investing activities	(413,939)	1,040,048
Cash flows from financing activities:
Net change in line of credit	(450,000)	525,542
Repayment of term debt	(551,585)	(1,730,774)
Repurchases of common stock	(6,425)
Net cash (used in) financing activities - continuing operations	(108,010)	(2,256,316)
Net cash (used in) financing activities - discontinued operations	(97,930)	(94,789)
Net cash (used in) financing activities	(205,940)	(2,351,105)
Effect of exchange rate changes on cash	60,411
Net increase (decrease) in cash	(670,440)	53,822
Cash at beginning of period	1,063,716	447,231
Cash at end of period	393,276	501,053
Supplemental disclosures of cash flow information:
Interest	247,330	202,007
Income taxes		$ 4,872

Note 1 - Description of the Com

Note 1 - Description of the Company	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	1 Description of the Company Unless otherwise specified, as used in this Quarterly Report on Form 10 We began operations as a farm equipment manufacturer in 1956. located in Armstrong, Iowa. We have organized our business into three third 2016, 3 13

Note 2 - Summary of Significant

Note 2 - Summary of Significant Account Policies	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2 Summary of Significant Account Policies Statement Presentation The foregoing condensed consolidated financial statements of the Company are unaudited and reflect all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim periods. The financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10 November 30, 2016. three nine August 31, 2017 not November 30, 2017 . The financial books of the Company’s Canadian operation are kept in the functional currency of Canadian dollars and the financial statements are converted to U.S. Dollars for consolidation. When consolidating the financial results of the Company into U.S. Dollars for reporting purposes, the Company uses the All-Current translation method. The All-Current method requires the balance sheet assets and liabilities to be translated to U.S. Dollars at the exchange rate as of quarter end. Stockholders’ equity is translated at historical exchange rates and retained earnings are translated at an average exchange rate for the period. Additionally, revenue and expenses are translated at average exchange rates for the periods presented. The resulting cumulative translation adjustment is carried on the balance sheet and is recorded in stockholders’ equity for 2017. not no not Estimates The preparation of financial statemen ts in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses during the three nine August 31, 2017.

Note 3 - Discontinued Operation

Note 3 - Discontinued Operations	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	3 Dis continued Operations Effective October 31 , 2016, As Vessels was a unique business unit of the Company, its liquidation was a strategic shift. In accordance with Accounting Standard Code Topic 360, Income from discontinued operations, before income taxes in the accompanying Condensed Consolidated Statements of Operations , is comprised of the following: Art's Way Vessels Three Months Ended August 31, 2017 August 31, 2016 Revenue from external customers $ - $ 358,253 Gross Profit - (97,357 ) Operating Expense 17,082 104,113 Income (loss) from operations (17,082 ) (201,470 ) Income (loss) before tax (26,449 ) (207,203 ) Art's Way Vessels Nine Months Ended August 31, 2017 August 31, 2016 Revenue from external customers $ - $ 1,480,688 Gross Profit - (6,965 ) Operating Expense 40,905 362,859 Income (loss) from operations (40,905 ) (369,824 ) Income (loss) before tax (49,238 ) (387,321 ) The components of discontinued operations in the accompanying Condensed Consolidated Balance Sheets are as follows: August 31, 2017 November 30, 2016 Cash $ 14,534 $ - Accounts Receivable - Net 7,500 9,700 Property, plant, and equipment, net 1,714,198 1,745,528 Assets of discontinued operations $ 1,736,232 $ 1,755,228 Accounts payable $ - $ 1,588 Accrued expenses 38,042 50,061 Notes Payable 618,016 715,945 Liabilities of discontinued operations $ 656,058 $ 767,594

Note 4 - Net Income (Loss) Per

Note 4 - Net Income (Loss) Per Share of Common Stock	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	4 Net Income (Loss) Per Share of Common Stock Basic net income (loss) per common share has been computed on the basis of the weighted average number of common shares outstanding. Diluted net income (loss) per share has been computed on the basis of the weighted average number of common shares outstanding plus equivalent shares assuming exercise of stock options. Potential shares of common stock that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings (loss) per common share . Basic and diluted earnings (loss) per common share have been computed based on the following as of August 31, 2017 August 31, 2016: For the three months ended August 31, 2017 August 31, 2016 Numerator for basic and diluted (loss) earnings per common share: Net (loss) income from continuing operations $ 41,648 $ (149,676 ) Net (loss) income from discontinued operations (18,441 ) (138,603 ) Net (loss) income $ 23,207 $ (288,279 ) Denominator: For basic (loss) earnings per share - weighted average common shares outstanding 4,161,421 4,105,704 Effect of dilutive stock options - - For diluted (loss) earnings per share - weighted average common shares outstanding 4,161,421 4,105,704 Earnings (Loss) per share - Basic: Continuing Operations $ 0.01 $ (0.04 ) Discontinued Operations $ - $ (0.03 ) Net Income (Loss) per share $ 0.01 $ (0.07 ) Earnings (Loss) per share - Diluted: Continuing Operations $ 0.01 $ (0.04 ) Discontinued Operations $ - $ (0.03 ) Net Income (Loss) per share $ 0.01 $ (0.07 ) For the nine months ended August 31, 2017 August 31, 2016 Numerator for basic and diluted (loss) earnings per common share: Net (loss) income from continuing operations $ (720,900 ) $ 807 Net (loss) income from discontinued operations (33,482 ) (264,685 ) Net (loss) income $ (754,382 ) $ (263,878 ) Denominator: For basic (loss) earnings per share - weighted average common shares outstanding 4,148,966 4,093,993 Effect of dilutive stock options - - For diluted (loss) earnings per share - weighted average common shares outstanding 4,148,966 4,093,993 Earnings (Loss) per share - Basic: Continuing Operations $ (0.17 ) $ 0.00 Discontinued Operations $ (0.01 ) $ (0.06 ) Net Income (Loss) per share $ (0.18 ) $ (0.06 ) Earnings (Loss) per share - Diluted: Continuing Operations $ (0.17 ) $ 0.00 Discontinued Operations $ (0.01 ) $ (0.06 ) Net Income (Loss) per share $ (0.18 ) $ (0.06 )

Note 5 - Inventory

Note 5 - Inventory	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	5 Inventory Major classes of inventory are: August 31, 2017 November 30, 2016 Raw materials $ 8,977,615 $ 8,568,624 Work in process 328,017 509,198 Finished goods 6,097,961 7,054,736 $ 15,403,593 $ 16,132,558 Less: Reserves (2,223,129 ) (2,603,206 ) $ 13,180,464 $ 13,529,352

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	6 Accrued Expenses Major components of accrued expenses are: August 31, 2017 November 30, 2016 Salaries, wages, and commissions $ 518,162 $ 542,449 Accrued warranty expense 133,194 134,373 Other 382,338 342,234 $ 1,033,694 $ 1,019,056

Note 7 - Product Warranty

Note 7 - Product Warranty	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	7 Product Warranty The Company offers warranties of various lengths to its customers depending on the specific product and terms of the customer purchase agreement. The average length of the warranty period is one ’s warranties require it to repair or replace defective products during the warranty period at no may no not 6. three nine August 31, 2017 August 31, 2016 For the three months ended August 31, 2017 August 31, 2016 Balance, beginning $ 152,964 $ 140,674 Settlements / adjustments (46,469 ) (36,896 ) Warranties issued 26,699 61,922 Balance, ending $ 133,194 $ 165,700 For the nine months ended August 31, 2017 August 31, 2016 Balance, beginning $ 134,373 $ 176,531 Settlements / adjustments (155,603 ) (186,179 ) Warranties issued 154,424 175,348 Balance, ending $ 133,194 $ 165,700

Note 8 - Loan and Credit Agreem

Note 8 - Loan and Credit Agreements	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	8 Loan and Credit Agreements The Company previously maintained a revolving line of credit and term loans with U.S. Bank. Pursuant to a Forbearance and Fourth Loan Modification Agreement dated August 10, 2017 U.S. Bank Revolving Line of Credit The Company had a revolving line of credit (the “Line of Credit”) with U.S. Bank, which had an availability of $4,500,000, May 1, 2013 .As of August 31, 2017, $3,734,114 $765,886 September 25, 2017. 75% 20% 50% not $3,375,000 not , and any reserves that U.S. Bank deemed necessary to maintain. Monthly interest-only payments were required and the unpaid principal and accrued interest were due on the maturity date. The Company’s obligations under the Line of Credit were evidenced by a Revolving Credit Note effective May 1, 2013, May 1, 2013, , and certain other ancillary documents. The Line of Credit was subject to: (i) a minimum interest rate of 5.5% 0.25% August 31, 2017, 5.5%. U.S. Bank Term Loans On May 10, 2012, $880,000 U.S. Bank UHC Loan”), the assets and operations of which are now held by Art’s Way Manufacturing Co., Inc . in Armstrong, Iowa. The maturity date of this loan was scheduled to be May 10, 2017, $283,500 May 10, 2017. 3.15% September 25, 2017, 2.0% not 5%. $238,945 August 31, 2017 . This loan was secured by a mortgage on the building and property acquired from Universal Harvester Co., Inc. in Ames, Iowa, pursuant to a Mortgage, Security Agreement and Assignment of Rents between the Company and U.S. Bank, dated May 10, 2012, May 1, 2013 May 1, 2013. May 1, 2013, mortgage were amended to extend the mortgage to secure the 2013 Three of the Company ’s outstanding term loans were obtained from U.S. Bank on May 1, 2013. $1,738,533 August 31, 2017. 2013 2.0% 5% fourth May 1, 2013, February 10, 2016. $1,078,196 $46,672 2013 September 25, 2017. 2013 May 1, 2018. The Company obtained a term loan from U.S. Bank on May 29, 2014 $1,000,000 “2014 2014 $874,263 August 31, 2017 . Following the Fourth Loan Modification, the 2014 2.0% 5% 2014 purchase of the building and property of Ohio Metal Working Products Company in Canton, Ohio. The maturity date of the 2014 September 25, 2017. May 29, 2014, U.S. Bank Covenants As amended by the Fourth Loan Modification the Company was required to maintain (i) fiscal 2017 third to adjustments in U.S. Bank’s sole discretion) of $411,000. not August 31, 2017. August 31, 2017 On September 28, 2017, Iowa Finance Authority Term Loan and Covenants On May 1, 2010, used as a distribution center, warehouse facility, and manufacturing plant for certain products under the Art’s-Way brand. The funds for this loan were made available by the Iowa Finance Authority by the issuance of tax exempt bonds. This loan had an original principal amount of $1,300,000 , an interest rate of 3.5% June 1, 2020. February 1, 2013, 2.75% This loan from the Iowa Finance Authority, which has been assigned to The First National Bank of West Union (n/k/a Bank 1 st May 28, 2010 February 1, 2013 May 1, 2010 February 1, 2013 ( 1.5 1.0, November 30 May 1, 2010 If the Company commits an event of default under the IFA Loan Agreement or the West Union Mortgage and does not may The Company was in compliance with all covenants under the IFA Loan Agreement except the debt service coverage ratio as measured on November 30, 2016. November 30, 2017. Debt Summary A summary of the Company ’s term debt is as follows: August 31, 2017 November 30, 2016 U.S. Bank loan payable in monthly installments of $9,600 plus interest at 5. 5%, due September 25, 2017 $ 546,392 $ 632,126 U.S. Bank loan payable in monthly installments of $10,965 plus interest at 5. 5%, due September 25, 2017 618,016 715,945 U.S. Bank loan payable in monthly installments of $26,107 plus interest at 5. 5%, due September 25, 2017 574,125 808,096 U.S. Bank loan payable in monthly installments of $10,960 plus interest at 5. 5%, due September 25, 2017 238,945 337,147 U.S. Bank loan payable in monthly installments of $4,301 plus interest at 5. 5%, due September 25, 2017 874,263 904,751 Iowa Finance Authority loan payable in monthly installments of $12,500 including interest at 2.75%, due June 1, 2020 409,745 512,935 Total term debt $ 3,261,486 $ 3,911,000 Less current portion of term debt 2,374,665 1,807,937 Term debt of discontinued operations 618,016 715,945 Term debt, excluding current portion $ 268,805 $ 1,387,118 Bank Midwest Revolving Line of Credit and Term Loans On September 28, 2017, $5,000,000 $2,600,000 October 1, 2037, $600,000 October 1, 2019. $6,562,030, $6,528,223 $33,807 The maturity date of the revolving line of credit is March 1, 2018. 1.000% o time in the money rates section of the Wall Street Journal. The interest rate floor is set at 4.250% 5.250% no $2,600,000 5.000% first sixty 0.750% 4.150% may five $62,500 0.5% 20% 38% 2% $600,000 5.000%, Each of the revolving line of credit and the term loans are governed by the terms of a separate Promissory Note, dated September 28, 2017, In connection with the revolving line of credit, the Company, Art’s-Way Scientific Inc. and Ohio Metal Working Products/Art’s-Way Inc. each entered into a Commercial Security Agreement with Bank Midwest, dated September 28, 2017, first September 28, 2017. To further secure the l ine of credit, the Company has granted Bank Midwest a mortgage on its West Union, Iowa property and Ohio Metal Working Products/Art’s-Way Inc. has granted Bank Midwest a mortgage on its property located in Canton, Ohio. The $2,600,000 $600,000 September 28, 2017, September 28, 2017. If the Company or its subsidiaries (as guarantors pursuant to the Commercial Guaranties) commits an event of default with respect to the promissory notes and fails or is unable to cure that default, Bank Midwest may may may Bank Midwest Loan Covenants The terms of these loan agreements require the Company to maintain a minimum working capital ratio of 1.75, $5,100,000 A maximum debt to worth ratio of 1 1 40% 1.25, 0.10 120

Note 9 - Assets Available for S

Note 9 - Assets Available for Sale and Assets Held for Lease	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Disclosure of Assets Available for Sale, Not Part of Discontinued Operations [Text Block]	9 Assets Available for Sale and Assets Held for Lease Major components of assets available for sale (excluding assets of discontinued operations as discussed in Note 3 August 31, 2017 November 30, 2016 Ames, Iowa powder coat paint system $ 70,000 $ 70,000 $ 70,000 $ 70,000 Due to reduced demand for reels produced by the Universal Harvester by Art’s Way subsidiary, the Company has been able to absorb the production of reels into its Armstrong, Iowa facility. The Company continues to hold the powder coat system previously used in its Ames, Iowa location as available for sale. During fiscal 2016, $44,858 Major components of assets held for lease are: August 31, 2017 November 30, 2016 West Union Facility $ 1,124,715 $ - Modular Buildings 108,225 - $ 1,232,940 $ - The Company currently leases more than half of the West Union facility to third The Company ’s Modular Buildings segment enters into leasing arrangements with customers from time-to-time. A small leased facility was put into service in the third 2017.

Note 10 - Recently Issued Accou

Note 10 - Recently Issued Accounting Pronouncements	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	10 Recently Issued Accounting Pronouncements Adopted Accounting Pronouncements Going Concern In August 2014, No. 2014 15, Presentation of Financial Statements – Going Concern” which is authoritative guidance on management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and provide related footnote disclosures, codified in ASC 205 40, Going Concern not one No. 2014 15 December 15, 2016. November 30, 2017, not . Inventory In July 2015, 2015 11, Inventory (Topic 330 first No. 2015 11 December 15, 2016, November 30, 2017 , including interim periods within that reporting period. The Company chose early adoption for this guidance, as its impact was expected not not Income Taxes In November 2015, 2015 17, 740 No. 2015 17 December 15, 2017 December 15, 2018. During the first 2017, 2015 17, not not The adoption of this guidance had no Accounting Pronouncements Not Revenue from Contract s with Customers In May 2014, No. 2014 09, Revenue from Contracts with Customers” which supersedes the guidance in “Revenue Recognition (Topic 605 2014 09 December 15, 2017, , and is to be applied retrospectively, with early application not Leases In February 2016, 2016 02, 842 twelve December 15, 2018, ending November 30, 2020

Note 11 - Equity Incentive Plan

Note 11 - Equity Incentive Plan and Stock Based Compensation	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	11 Equity Incentive Plan and Sto ck Based Compensation On January 27, 2011, ’s-Way Manufacturing Co., Inc. 2011 “2011 2011 April 28, 2011. no 2011 The 2011 The Board of Directors has approved a director compensation policy pursuant to which non-employee directors are automatically granted restricted stock awards of 1,000 first nine 2017, 53,700 three 4,000 Stock options granted prior to January 27, 2011 Stock-bas ed compensation expense reflects the fair value of stock-based awards measured at the grant date and recognized over the relevant vesting period. The Company estimates the fair value of each stock-based option award on the measurement date using the Black-Scholes option valuation model , which incorporates assumptions as to stock price volatility, the expected life of the options, risk-free interest rate, and dividend yield. Expected volatility is based on historical volatility of the Company’s stock and other factors. The Company uses historical option exercise and termination data to estimate the expected term the options are expected to be outstanding. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield is calculated using historical dividend amounts and the stock price at the option issuance date. No three nine August 31, 2017 2016. $19,266 $92,225 three nine August 31, 2017, $31,417 $70,846 2016 .

Note 12 - Disclosures About the

Note 12 - Disclosures About the Fair Value of Financial Instruments	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	12 Disclosures About the Fair Value of Financial Instruments The fair value of a financial instrument is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties. At August 31, 2017, November 30, 2016, not

Note 13 - Segment Information

Note 13 - Segment Information	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13 Segment Information There are three buildings and tools. The agricultural products segment fabricates and sells farming products as well as related equipment and replacement parts for these products in the United States and worldwide. The modular buildings segment manufactures and installs modular buildings for animal containment and various laboratory uses. The tools segment manufactures steel cutting tools and inserts. The accounting policies applied to determine the segment information are the same as those described in the summary of significant accounting policies. Management evaluates the performance of each segment based on profit or loss from operations before income taxes, exclusive of nonrecurring gains and losses. Approximate financial information with respect to the reportabl e segments is as follows. The tables below exclude income and balance sheet data from discontinued operations. See Note 3 Three Months Ended August 31, 2017 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 5,065,000 $ 767,000 $ 718,000 $ 6,550,000 Income (loss) from operations 118,000 (37,000 ) 28,000 $ 109,000 Income (loss) before tax 123,000 (45,000 ) 15,000 $ 93,000 Total Assets 18,941,000 3,094,000 2,721,000 $ 24,756,000 Capital expenditures 61,000 117,000 - $ 178,000 Depreciation & Amortization 125,000 17,000 32,000 $ 174,000 Three Months Ended August 31, 2016 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 4,992,000 $ 910,000 $ 530,000 $ 6,432,000 Income (loss) from operations (116,000 ) (59,000 ) (42,000 ) $ (217,000 ) Income (loss) before tax (91,000 ) (65,000 ) (68,000 ) $ (224,000 ) Total Assets 21,209,000 2,887,000 2,654,000 $ 26,750,000 Capital expenditures 31,000 - 22,000 $ 53,000 Depreciation & Amortization 117,000 15,000 32,000 $ 164,000 Nine Months Ended August 31, 2017 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 11,595,000 $ 2,043,000 $ 2,022,000 $ 15,660,000 Income (loss) from operations (758,000 ) (209,000 ) 3,000 $ (964,000 ) Income (loss) before tax (743,000 ) (237,000 ) (30,000 ) $ (1,010,000 ) Total Assets 18,941,000 3,094,000 2,721,000 $ 24,756,000 Capital expenditures 265,000 117,000 90,000 $ 472,000 Depreciation & Amortization 372,000 46,000 95,000 $ 513,000 Nine Months Ended August 31, 2016 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 12,757,000 $ 3,102,000 $ 1,583,000 $ 17,442,000 Income (loss) from operations 36,000 154,000 (123,000 ) $ 67,000 Income (loss) before tax 24,000 140,000 (163,000 ) $ 1,000 Total Assets 21,209,000 2,887,000 2,654,000 $ 26,750,000 Capital expenditures 60,000 - 55,000 $ 115,000 Depreciation & Amortization 377,000 46,000 93,000 $ 516,000 * Consolidated figures in the table are comprised of the sum of the segments and may not

Note 14 - Going Concern

Note 14 - Going Concern	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	14 Going Concern The Company ’s consolidated financial statements are prepared using accounting principles generally accepted in the United States of America and applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. During fiscal 2017, Management has successfully implemented several strategies aimed at alleviating the Company ’s working capital shortages for the duration of the decreased economic cycle. The Company has decreased its administrative expenses in the last several quarters, and has also successfully refinanced nearly all of its bank debt with longer amortizations and reduced required payments. Also, at this time, two one one

Note 15 - Subsequent Event

Note 15 - Subsequent Event	9 Months Ended
	Aug. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	15 Subsequent Event On September 28, 2017 Under the new credit facility, monthly debt service amounts to Bank Midwest will be approximately $20,500, $65,300 $5,000,000, $4,500,000 8. no

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Aug. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Statement Presentation The foregoing condensed consolidated financial statements of the Company are unaudited and reflect all adjustments (consisting only of normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial position and operating results for the interim periods. The financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10 November 30, 2016. three nine August 31, 2017 not November 30, 2017 . The financial books of the Company’s Canadian operation are kept in the functional currency of Canadian dollars and the financial statements are converted to U.S. Dollars for consolidation. When consolidating the financial results of the Company into U.S. Dollars for reporting purposes, the Company uses the All-Current translation method. The All-Current method requires the balance sheet assets and liabilities to be translated to U.S. Dollars at the exchange rate as of quarter end. Stockholders’ equity is translated at historical exchange rates and retained earnings are translated at an average exchange rate for the period. Additionally, revenue and expenses are translated at average exchange rates for the periods presented. The resulting cumulative translation adjustment is carried on the balance sheet and is recorded in stockholders’ equity for 2017. not no not
Use of Estimates, Policy [Policy Text Block]	Estimates The preparation of financial statemen ts in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses during the three nine August 31, 2017.

Note 3 - Discontinued Operati23

Note 3 - Discontinued Operations (Tables)	9 Months Ended
	Aug. 31, 2017
Notes Tables
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement [Table Text Block]	Art's Way Vessels Three Months Ended August 31, 2017 August 31, 2016 Revenue from external customers $ - $ 358,253 Gross Profit - (97,357 ) Operating Expense 17,082 104,113 Income (loss) from operations (17,082 ) (201,470 ) Income (loss) before tax (26,449 ) (207,203 ) Art's Way Vessels Nine Months Ended August 31, 2017 August 31, 2016 Revenue from external customers $ - $ 1,480,688 Gross Profit - (6,965 ) Operating Expense 40,905 362,859 Income (loss) from operations (40,905 ) (369,824 ) Income (loss) before tax (49,238 ) (387,321 )
Disposal Groups, Including Discontinued Operations [Table Text Block]	August 31, 2017 November 30, 2016 Cash $ 14,534 $ - Accounts Receivable - Net 7,500 9,700 Property, plant, and equipment, net 1,714,198 1,745,528 Assets of discontinued operations $ 1,736,232 $ 1,755,228 Accounts payable $ - $ 1,588 Accrued expenses 38,042 50,061 Notes Payable 618,016 715,945 Liabilities of discontinued operations $ 656,058 $ 767,594

Note 4 - Net Income (Loss) Pe24

Note 4 - Net Income (Loss) Per Share of Common Stock (Tables)	9 Months Ended
	Aug. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the three months ended August 31, 2017 August 31, 2016 Numerator for basic and diluted (loss) earnings per common share: Net (loss) income from continuing operations $ 41,648 $ (149,676 ) Net (loss) income from discontinued operations (18,441 ) (138,603 ) Net (loss) income $ 23,207 $ (288,279 ) Denominator: For basic (loss) earnings per share - weighted average common shares outstanding 4,161,421 4,105,704 Effect of dilutive stock options - - For diluted (loss) earnings per share - weighted average common shares outstanding 4,161,421 4,105,704 Earnings (Loss) per share - Basic: Continuing Operations $ 0.01 $ (0.04 ) Discontinued Operations $ - $ (0.03 ) Net Income (Loss) per share $ 0.01 $ (0.07 ) Earnings (Loss) per share - Diluted: Continuing Operations $ 0.01 $ (0.04 ) Discontinued Operations $ - $ (0.03 ) Net Income (Loss) per share $ 0.01 $ (0.07 ) For the nine months ended August 31, 2017 August 31, 2016 Numerator for basic and diluted (loss) earnings per common share: Net (loss) income from continuing operations $ (720,900 ) $ 807 Net (loss) income from discontinued operations (33,482 ) (264,685 ) Net (loss) income $ (754,382 ) $ (263,878 ) Denominator: For basic (loss) earnings per share - weighted average common shares outstanding 4,148,966 4,093,993 Effect of dilutive stock options - - For diluted (loss) earnings per share - weighted average common shares outstanding 4,148,966 4,093,993 Earnings (Loss) per share - Basic: Continuing Operations $ (0.17 ) $ 0.00 Discontinued Operations $ (0.01 ) $ (0.06 ) Net Income (Loss) per share $ (0.18 ) $ (0.06 ) Earnings (Loss) per share - Diluted: Continuing Operations $ (0.17 ) $ 0.00 Discontinued Operations $ (0.01 ) $ (0.06 ) Net Income (Loss) per share $ (0.18 ) $ (0.06 )

Note 5 - Inventory (Tables)

Note 5 - Inventory (Tables)	9 Months Ended
	Aug. 31, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	August 31, 2017 November 30, 2016 Raw materials $ 8,977,615 $ 8,568,624 Work in process 328,017 509,198 Finished goods 6,097,961 7,054,736 $ 15,403,593 $ 16,132,558 Less: Reserves (2,223,129 ) (2,603,206 ) $ 13,180,464 $ 13,529,352

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	9 Months Ended
	Aug. 31, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	August 31, 2017 November 30, 2016 Salaries, wages, and commissions $ 518,162 $ 542,449 Accrued warranty expense 133,194 134,373 Other 382,338 342,234 $ 1,033,694 $ 1,019,056

Note 7 - Product Warranty (Tabl

Note 7 - Product Warranty (Tables)	9 Months Ended
	Aug. 31, 2017
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	For the three months ended August 31, 2017 August 31, 2016 Balance, beginning $ 152,964 $ 140,674 Settlements / adjustments (46,469 ) (36,896 ) Warranties issued 26,699 61,922 Balance, ending $ 133,194 $ 165,700 For the nine months ended August 31, 2017 August 31, 2016 Balance, beginning $ 134,373 $ 176,531 Settlements / adjustments (155,603 ) (186,179 ) Warranties issued 154,424 175,348 Balance, ending $ 133,194 $ 165,700

Note 8 - Loan and Credit Agre28

Note 8 - Loan and Credit Agreements (Tables)	9 Months Ended
	Aug. 31, 2017
Notes Tables
Schedule of Debt [Table Text Block]	August 31, 2017 November 30, 2016 U.S. Bank loan payable in monthly installments of $9,600 plus interest at 5. 5%, due September 25, 2017 $ 546,392 $ 632,126 U.S. Bank loan payable in monthly installments of $10,965 plus interest at 5. 5%, due September 25, 2017 618,016 715,945 U.S. Bank loan payable in monthly installments of $26,107 plus interest at 5. 5%, due September 25, 2017 574,125 808,096 U.S. Bank loan payable in monthly installments of $10,960 plus interest at 5. 5%, due September 25, 2017 238,945 337,147 U.S. Bank loan payable in monthly installments of $4,301 plus interest at 5. 5%, due September 25, 2017 874,263 904,751 Iowa Finance Authority loan payable in monthly installments of $12,500 including interest at 2.75%, due June 1, 2020 409,745 512,935 Total term debt $ 3,261,486 $ 3,911,000 Less current portion of term debt 2,374,665 1,807,937 Term debt of discontinued operations 618,016 715,945 Term debt, excluding current portion $ 268,805 $ 1,387,118

Note 9 - Assets Available for29

Note 9 - Assets Available for Sale and Assets Held for Lease (Tables)	9 Months Ended
	Aug. 31, 2017
Notes Tables
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	August 31, 2017 November 30, 2016 Ames, Iowa powder coat paint system $ 70,000 $ 70,000 $ 70,000 $ 70,000
Schedule of Property Subject to or Available for Operating Lease [Table Text Block]	August 31, 2017 November 30, 2016 West Union Facility $ 1,124,715 $ - Modular Buildings 108,225 - $ 1,232,940 $ -

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	9 Months Ended
	Aug. 31, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended August 31, 2017 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 5,065,000 $ 767,000 $ 718,000 $ 6,550,000 Income (loss) from operations 118,000 (37,000 ) 28,000 $ 109,000 Income (loss) before tax 123,000 (45,000 ) 15,000 $ 93,000 Total Assets 18,941,000 3,094,000 2,721,000 $ 24,756,000 Capital expenditures 61,000 117,000 - $ 178,000 Depreciation & Amortization 125,000 17,000 32,000 $ 174,000 Three Months Ended August 31, 2016 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 4,992,000 $ 910,000 $ 530,000 $ 6,432,000 Income (loss) from operations (116,000 ) (59,000 ) (42,000 ) $ (217,000 ) Income (loss) before tax (91,000 ) (65,000 ) (68,000 ) $ (224,000 ) Total Assets 21,209,000 2,887,000 2,654,000 $ 26,750,000 Capital expenditures 31,000 - 22,000 $ 53,000 Depreciation & Amortization 117,000 15,000 32,000 $ 164,000 Nine Months Ended August 31, 2017 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 11,595,000 $ 2,043,000 $ 2,022,000 $ 15,660,000 Income (loss) from operations (758,000 ) (209,000 ) 3,000 $ (964,000 ) Income (loss) before tax (743,000 ) (237,000 ) (30,000 ) $ (1,010,000 ) Total Assets 18,941,000 3,094,000 2,721,000 $ 24,756,000 Capital expenditures 265,000 117,000 90,000 $ 472,000 Depreciation & Amortization 372,000 46,000 95,000 $ 513,000 Nine Months Ended August 31, 2016 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 12,757,000 $ 3,102,000 $ 1,583,000 $ 17,442,000 Income (loss) from operations 36,000 154,000 (123,000 ) $ 67,000 Income (loss) before tax 24,000 140,000 (163,000 ) $ 1,000 Total Assets 21,209,000 2,887,000 2,654,000 $ 26,750,000 Capital expenditures 60,000 - 55,000 $ 115,000 Depreciation & Amortization 377,000 46,000 93,000 $ 516,000

Note 1 - Description of the C31

Note 1 - Description of the Company (Details Textual)	9 Months Ended
	Aug. 31, 2017
Number of Operating Segments	3

Note 3 - Discontinued Operati32

Note 3 - Discontinued Operations - Income from Discontinued Operations before Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Income (loss) before tax	$ (26,449)	$ (207,203)	$ (49,238)	$ (387,321)
Discontinued Operations, Held-for-sale [Member] | Vessels Segment [Member]
Revenue from external customers		358,253		1,480,688
Gross Profit		(97,357)		(6,965)
Operating Expense	17,082	104,113	40,905	362,859
Income (loss) from operations	(17,082)	(201,470)	(40,905)	(369,824)
Income (loss) before tax	$ (26,449)	$ (207,203)	$ (49,238)	$ (387,321)

Note 3 - Discontinued Operati33

Note 3 - Discontinued Operations - Components of Discontinued Operations (Details) - USD ($)	Aug. 31, 2017	Nov. 30, 2016
Notes Payable	$ 618,016	$ 715,945
Discontinued Operations, Held-for-sale [Member] | Vessels Segment [Member]
Cash	14,534
Accounts Receivable - Net	7,500	9,700
Property, plant, and equipment, net	1,714,198	1,745,528
Assets of discontinued operations	1,736,232	1,755,228
Accounts payable		1,588
Accrued expenses	38,042	50,061
Notes Payable	618,016	715,945
Liabilities of discontinued operations	$ 656,058	$ 767,594

Note 4 - Net Income (Loss) Pe34

Note 4 - Net Income (Loss) Per Share of Common Stock - Basic and Diluted Earnings Per Common Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Numerator for basic and diluted (loss) earnings per common share:
Net (loss) income from continuing operations	$ 41,648	$ (149,676)	$ (720,900)	$ 807
Net (loss) income from discontinued operations	(18,441)	(138,603)	(33,482)	(264,685)
Net (loss) income	$ 23,207	$ (288,279)	$ (754,382)	$ (263,878)
Denominator:
Effect of dilutive stock options (in shares)
For diluted (loss) earnings per share - weighted average common shares outstanding (in shares)	4,161,421	4,105,704	4,148,966	4,093,993
For basic (loss) earnings per share - weighted average common shares outstanding (in shares)	4,161,421	4,105,704	4,148,966	4,093,993
Earnings (Loss) per share - Basic:
Discontinued Operations (in dollars per share)		$ (0.03)	$ (0.01)	$ (0.06)
Net Income (Loss) per share (in dollars per share)	0.01	(0.07)	(0.18)	(0.06)
Continuing Operations (in dollars per share)	0.01	(0.04)	(0.17)	0
Earnings (Loss) per share - Diluted:
Discontinued Operations (in dollars per share)		(0.03)	(0.01)	(0.06)
Net Income (Loss) per share (in dollars per share)	0.01	(0.07)	(0.18)	(0.06)
Continuing Operations (in dollars per share)	$ 0.01	$ (0.04)	$ (0.17)	$ 0

Note 5 - Inventory - Major Clas

Note 5 - Inventory - Major Classes of Inventory (Details) - USD ($)	Aug. 31, 2017	Nov. 30, 2016
Raw materials	$ 8,977,615	$ 8,568,624
Work in process	328,017	509,198
Finished goods	6,097,961	7,054,736
	15,403,593	16,132,558
Less: Reserves	(2,223,129)	(2,603,206)
	$ 13,180,464	$ 13,529,352

Note 6 - Accrued Expenses - Maj

Note 6 - Accrued Expenses - Major Components Of Accrued Expenses (Details) - USD ($)	Aug. 31, 2017	Nov. 30, 2016
Salaries, wages, and commissions	$ 518,162	$ 542,449
Accrued warranty expense	133,194	134,373
Other	382,338	342,234
Total accrued liabilities, current	$ 1,033,694	$ 1,019,056

Note 7 - Product Warranty (Deta

Note 7 - Product Warranty (Details Textual)	9 Months Ended
	Aug. 31, 2017
Standard Product Warrant Term	1 year

Note 7 - Product Warranty - Cha

Note 7 - Product Warranty - Changes In Product Warranty Liability (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Balance, beginning	$ 152,964	$ 140,674	$ 134,373	$ 176,531
Settlements / adjustments	(46,469)	(36,896)	(155,603)	(186,179)
Warranties issued	26,699	61,922	154,424	175,348
Balance, ending	$ 133,194	$ 165,700	$ 133,194	$ 165,700

Note 8 - Loan and Credit Agre39

Note 8 - Loan and Credit Agreements (Details Textual)	Sep. 28, 2017USD ($)	Aug. 31, 2017USD ($)	May 10, 2017USD ($)	Feb. 10, 2016USD ($)	May 10, 2012USD ($)	Aug. 31, 2017USD ($)	Aug. 31, 2017USD ($)	Aug. 31, 2016USD ($)	Nov. 30, 2016USD ($)	May 29, 2014USD ($)	May 01, 2013USD ($)	Feb. 01, 2013	May 01, 2010USD ($)
Repayments of Long-term Debt							$ 551,585	$ 1,730,774
Long-term Debt		$ 3,261,486				$ 3,261,486	3,261,486		$ 3,911,000
US Bank [Member]
Debt Instrument, Periodic Payment						65,300
US Bank [Member] | Subsequent Event [Member]
Repayments of Lines of Credit	$ 6,562,030
Repayments of Lines of Credit, Unpaid Principal	6,528,223
Repayments of Lines of Credit, Accrued and Unpaid Interest and Fees	33,807
Bank Midwest [Member] | Subsequent Event [Member]
Debt Instrument, Periodic Payment	$ 20,500
Debt Instrument, Covenant, Minimum Working Capital Ratio	0.0175
Debt Instrument, Covenant, Minimum Working Capital	$ 5,100,000
Debt Instrument, Covenant, Maximum Debt to Worth Ratio	1
Debt Instrument, Covenant, Minimum Tangible Balance Sheet Equity, Percentage	40.00%
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio	1.25
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio, Tolerance	0.1
Revolving Credit Facility [Member] | US Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity		4,500,000				4,500,000	4,500,000
Revolving Credit Facility [Member] | Bank Midwest [Member] | Subsequent Event [Member]
Line of Credit Facility, Interest Rate During Period	5.25%
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000
Revolving Credit Facility [Member] | Bank Midwest [Member] | Wall Street Journal Rate [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member] | Bank Midwest [Member] | Minimum [Member] | Subsequent Event [Member]
Line of Credit Facility, Interest Rate During Period	4.25%
The Line of Credit [Member] | Revolving Credit Facility [Member] | US Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity											$ 4,500,000
Long-term Line of Credit		3,734,114				3,734,114	3,734,114
Line of Credit Facility, Remaining Borrowing Capacity		$ 765,886				$ 765,886	$ 765,886
Line of Credit Facility Borrowing Capacity Borrowing Base Percentage of Accounts Receivable		75.00%				75.00%	75.00%
Line of Credit Facility Borrowing Capacity Borrowing Base Minimum Percentage of Aggregate Receivables		20.00%				20.00%	20.00%
Line of Credit Facility Borrowing Capacity Borrowing Base Percentage of Inventory		50.00%				50.00%	50.00%
Line of Credit Facility Borrowing Capacity Borrowing Base Maximum Inventory Amount		$ 3,375,000				$ 3,375,000	$ 3,375,000
The Line of Credit [Member] | Revolving Credit Facility [Member] | US Bank [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.50%				5.50%	5.50%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage							0.25%
US Bank UHC Loan [Member] | US Bank [Member]
Debt Instrument, Periodic Payment			$ 283,500
Debt Instrument, Interest Rate, Stated Percentage					3.15%
Debt Instrument, Face Amount					$ 880,000
Long-term Debt		$ 238,945				$ 238,945	$ 238,945
US Bank UHC Loan [Member] | US Bank [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate					2.00%
US Bank UHC Loan [Member] | US Bank [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage					5.00%
The 2013 Term Notes [Member] | US Bank [Member]
Repayments of Long-term Debt				$ 1,078,196
Debt Instrument, Periodic Payment							46,672
Long-term Debt		$ 1,738,533				$ 1,738,533	$ 1,738,533
The 2013 Term Notes [Member] | US Bank [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%
The 2013 Term Notes [Member] | US Bank [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.00%				5.00%	5.00%
The 2014 Term Note [Member] | US Bank [Member]
Debt Instrument, Face Amount										$ 1,000,000
Long-term Debt		$ 874,263				$ 874,263	$ 874,263
The 2014 Term Note [Member] | US Bank [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		2.00%
The 2014 Term Note [Member] | US Bank [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.00%				5.00%	5.00%
Line of Credit, 2013 Term Notes, and 2014 Term Notes [Member] | US Bank [Member]
Debt Instrument, Requirement, Minimum EBIDTA		$ 411,000				$ 411,000	$ 411,000
Iowa Finance Authority Term Loan [Member]
Debt Instrument, Periodic Payment							$ 12,500		$ 12,500
Debt Instrument, Interest Rate, Stated Percentage		2.75%				2.75%	2.75%		2.75%
Long-term Debt		$ 409,745				$ 409,745	$ 409,745		$ 512,935
Iowa Finance Authority Term Loan [Member] | The First National Bank of West Union [Member]
Debt Instrument, Covenant Debt Service Coverage Ratio												1.5
Debt Instrument, Interest Rate, Stated Percentage												2.75%	3.50%
Debt Instrument, Face Amount													$ 1,300,000
Term Loan Due October 2037 [Member] | Bank Midwest [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Long-term Debt	$ 2,600,000
Term Loan Due October 2037 [Member] | Bank Midwest [Member] | Subsequent Event [Member] | United States Department of Agriculture [Member]
Upfront Guarantee Fee	$ 62,500
Guarantee Fee, Annual Fee, Percentage	0.50%
Guarantee Requirement, Personally Guarantee, Shareholders Ownership Percentage	20.00%
Term Loan Due October 2037 [Member] | Bank Midwest [Member] | Subsequent Event [Member] | J. Ward McConnell Jr. [Member]
Personally Guaranteed, Percentage of Loan	38.00%
Personally Guaranteed, Fee, Percentage of Guaranteed Amount	2.00%
Term Loan Due October 2037 [Member] | Bank Midwest [Member] | Wall Street Journal Rate [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Term Loan Due October 2037 [Member] | Bank Midwest [Member] | Minimum [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Effective Percentage	4.15%
Term Loan Due October 2019 [Member] | Bank Midwest [Member] | Subsequent Event [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Long-term Debt	$ 600,000

Note 8 - Loan and Credit Agre40

Note 8 - Loan and Credit Agreements - Summary Of Term Debt (Details) - USD ($)	Aug. 31, 2017	Nov. 30, 2016
Term debt	$ 3,261,486	$ 3,911,000
Less current portion of term debt	2,374,665	1,807,937
Term debt of discontinued operations	618,016	715,945
Term debt, excluding current portion	268,805	1,387,118
US Bank Loan 2 [Member]
Term debt	546,392	632,126
US Bank Loan 3 [Member]
Term debt	618,016	715,945
US Bank Loan 4 [Member]
Term debt	574,125	808,096
US Bank Loan 5 [Member]
Term debt	238,945	337,147
US Bank Loan 6 [Member]
Term debt	874,263	904,751
Iowa Finance Authority Term Loan [Member]
Term debt	$ 409,745	$ 512,935

Note 8 - Loan and Credit Agre41

Note 8 - Loan and Credit Agreements - Summary Of Term Debt (Details) (Parentheticals) - USD ($)	9 Months Ended	12 Months Ended
	Aug. 31, 2017	Nov. 30, 2016
US Bank Loan 2 [Member]
Debt instrument, interest rate, stated percentage	5.00%	5.00%
Debt instrument, periodic payment	$ 9,600	$ 9,600
US Bank Loan 3 [Member]
Debt instrument, interest rate, stated percentage	5.00%	5.00%
Debt instrument, periodic payment	$ 10,965	$ 10,965
US Bank Loan 4 [Member]
Debt instrument, interest rate, stated percentage	5.00%	5.00%
Debt instrument, periodic payment	$ 26,107	$ 26,107
US Bank Loan 5 [Member]
Debt instrument, interest rate, stated percentage	5.00%	5.00%
Debt instrument, periodic payment	$ 10,960	$ 10,960
US Bank Loan 6 [Member]
Debt instrument, interest rate, stated percentage	5.00%	5.00%
Debt instrument, periodic payment	$ 4,301	$ 4,301
Iowa Finance Authority Term Loan [Member]
Debt instrument, interest rate, stated percentage	2.75%	2.75%
Debt instrument, periodic payment	$ 12,500	$ 12,500

Note 9 - Assets Available for42

Note 9 - Assets Available for Sale and Assets Held for Lease (Details Textual)	12 Months Ended
	Nov. 30, 2016USD ($)
Ames, Iowa Powder Coat Print System [Member]
Asset Impairment Charges	$ 44,858

Note 9 - Assets Available for43

Note 9 - Assets Available for Sale and Assets Held for Lease - Major Components Assets Available for Sale (Details) - USD ($)	Aug. 31, 2017	Nov. 30, 2016
Assets available for sale	$ 70,000	$ 70,000
Ames, Iowa Powder Coat Print System [Member]
Assets available for sale	$ 70,000	$ 70,000

Note 9 - Assets Available for44

Note 9 - Assets Available for Sale and Assets Held for Lease - Summary of Assets Held for Lease (Details) - USD ($)	Aug. 31, 2017	Nov. 30, 2016
Assets held for lease	$ 1,232,940
West Union Facility [Member]
Assets held for lease	1,124,715
Modular Buildings [Member]
Assets held for lease	$ 108,225

Note 11 - Equity Incentive Pl45

Note 11 - Equity Incentive Plan and Stock Based Compensation (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	Jan. 27, 2011
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	0	0	0
Allocated Share-based Compensation Expense	$ 19,266	$ 31,417	$ 92,225	$ 70,846
Non-qualified Stock Units to Non-employee Directors Annually or Upon Election [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					1,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			3 years
Restricted Stock [Member] | Employees, Directors, and Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			53,700
Restricted Stock [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			4,000

Note 13 - Segment Information46

Note 13 - Segment Information (Details Textual)	9 Months Ended
	Aug. 31, 2017
Number of Reportable Segments	3

Note 13 - Segment Information -

Note 13 - Segment Information - Segment Reporting Information (Details) - USD ($)		3 Months Ended		9 Months Ended
		Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016
Total Assets		$ 26,491,778		$ 26,491,778		$ 27,242,590
Capital expenditures				472,031	$ 114,376
Depreciation & Amortization				516,642	516,904
Revenue from external customers		6,549,772	$ 6,431,217	15,660,294	17,441,869
Income (loss) from operations		109,240	(217,165)	(964,576)	67,372
Operating Segments [Member]
Income (loss) before tax	[1]	93,000	(224,000)	(1,010,000)	1,000
Total Assets	[1]	24,756,000	26,750,000	24,756,000	26,750,000
Capital expenditures	[1]	178,000	53,000	472,000	115,000
Depreciation & Amortization	[1]	174,000	164,000	513,000	516,000
Revenue from external customers	[1]	6,550,000	6,432,000	15,660,000	17,442,000
Income (loss) from operations	[1]	109,000	(217,000)	(964,000)	67,000
Operating Segments [Member] | Agricultural Products [Member]
Income (loss) before tax	[1]	123,000	(91,000)	(743,000)	24,000
Total Assets	[1]	18,941,000	21,209,000	18,941,000	21,209,000
Capital expenditures	[1]	61,000	31,000	265,000	60,000
Depreciation & Amortization	[1]	125,000	117,000	372,000	377,000
Revenue from external customers	[1]	5,065,000	4,992,000	11,595,000	12,757,000
Income (loss) from operations	[1]	118,000	(116,000)	(758,000)	36,000
Operating Segments [Member] | Modular Buildings [Member]
Income (loss) before tax	[1]	(45,000)	(65,000)	(237,000)	140,000
Total Assets	[1]	3,094,000	2,887,000	3,094,000	2,887,000
Capital expenditures	[1]	117,000		117,000
Depreciation & Amortization	[1]	17,000	15,000	46,000	46,000
Revenue from external customers	[1]	767,000	910,000	2,043,000	3,102,000
Income (loss) from operations	[1]	(37,000)	(59,000)	(209,000)	154,000
Operating Segments [Member] | Tools [Member]
Income (loss) before tax	[1]	15,000	(68,000)	(30,000)	(163,000)
Total Assets	[1]	2,721,000	2,654,000	2,721,000	2,654,000
Capital expenditures	[1]		22,000	90,000	55,000
Depreciation & Amortization	[1]	32,000	32,000	95,000	93,000
Revenue from external customers	[1]	718,000	530,000	2,022,000	1,583,000
Income (loss) from operations	[1]	$ 28,000	$ (42,000)	$ 3,000	$ (123,000)
[1]	Segment figures in the table may not sum to the consolidated total due to rounding.

Note 15 - Subsequent Event (Det

Note 15 - Subsequent Event (Details Textual) - USD ($)	Sep. 28, 2017	Aug. 31, 2017
Bank Midwest [Member] | Subsequent Event [Member]
Debt Instrument, Periodic Payment	$ 20,500
Bank Midwest [Member] | Subsequent Event [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000,000
US Bank [Member]
Debt Instrument, Periodic Payment		$ 65,300
US Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 4,500,000