Art's-Way Manufacturing (ARTW) 10-K 5 Feb 19 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Nov. 30, 2018	Jan. 24, 2019	May 31, 2018
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	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		4,218,567
Entity Public Float			$ 11,572,641
Document Type	10-K
Document Period End Date	Nov. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Shell Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Current assets:
Cash	$ 3,512	$ 212,400
Accounts receivable-customers, net of allowance for doubtful accounts of $25,100 and $32,298 in 2018 and 2017, respectively	1,537,113	1,910,294
Inventories, net	10,257,102	11,966,722
Cost and profit in excess of billings	99,287	65,146
Net investment in sales-type leases, current	123,055
Assets of discontinued operations		2,454
Other current assets	125,089	275,755
Total current assets	12,145,158	14,432,771
Property, plant, and equipment, net	5,647,485	5,946,957
Assets held for lease, net	1,870,125	1,217,164
Deferred income taxes	1,432,422	901,396
Goodwill		375,000
Net investment in sales-type leases, long-term	153,787
Other assets of discontinued operations		1,425,000
Other assets	76,497	81,545
Total assets	21,325,474	24,379,833
Current liabilities:
Accounts payable	802,062	673,653
Customer deposits	145,632	600,325
Billings in excess of cost and profit	185,014	48,211
Income taxes payable	6,400	3,100
Accrued expenses	893,284	981,558
Liabilities of discontinued operations		59,149
Line of credit	3,505,530	2,462,530
Current portion of long-term debt	227,459	221,230
Total current liabilities	5,765,381	5,049,756
Long-term liabilities
Long-term liabilities of discontinued operations		590,366
Long-term debt, excluding current portion	2,523,018	2,748,677
Total liabilities	8,288,399	8,388,799
Commitments and Contingencies (Notes 9, 10 and 17)
Stockholders’ equity:
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2018 and 2017; issued and outstanding 0 shares in 2018 and 2017.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2018 and 2017; issued and outstanding 4,225,050 in 2018 and 4,158,752 in 2017	42,250	41,587
Additional paid-in capital	3,055,632	2,859,052
Retained earnings	9,966,928	13,353,830
Accumulated other comprehensive loss		(257,010)
Treasury stock, at cost (9,286 in 2018 and 1,954 in 2017 shares)	(27,735)	(6,425)
Total stockholders’ equity	13,037,075	15,991,034
Total liabilities and stockholders’ equity	$ 21,325,474	$ 24,379,833

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Allowance for doubtful accounts	$ 25,100	$ 32,298
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)	4,225,050	4,158,752
Common stock, outstanding (in shares)	4,225,050	4,158,752
Treasury stock (in shares)	9,286	1,954

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Sales	$ 19,726,793	$ 20,715,080
Cost of goods sold	16,215,237	16,632,979
Gross profit	3,511,556	4,082,101
Expenses:
Engineering	640,430	501,182
Selling	1,936,147	1,889,461
General and administrative	3,438,981	3,343,500
Impairment of Assets	591,268	70,000
Total expenses	6,606,826	5,804,143
(Loss) from operations	(3,095,270)	(1,722,042)
Other income (expense):
Interest expense	(304,566)	(319,622)
Other	(446,629)	248,507
Total other income (expense)	(751,195)	(71,115)
Income	(3,846,465)	(1,793,157)
Income tax (benefit)	(510,416)	(423,798)
(Loss) from continuing operations	(3,336,049)	(1,369,359)
Discontinued Operations
Loss from operations of discontinued segment	(67,177)	(400,739)
Income tax benefit	(16,324)	(133,017)
Loss on discontinued operations	(50,853)	(267,722)
Net (Loss)	$ (3,386,902)	$ (1,637,081)
(Loss) per share - basic:
Continuing Operations (in dollars per share)	$ (0.80)	$ (0.33)
Discontinued Operations (in dollars per share)	(0.01)	(0.06)
Net Income (Loss) per share (in dollars per share)	(0.81)	(0.39)
(Loss) per share - diluted:
Continuing Operations (in dollars per share)	(0.80)	(0.33)
Discontinued Operations (in dollars per share)	(0.01)	(0.06)
Net Income (Loss) per share (in dollars per share)	$ (0.81)	$ (0.39)
Weighted average outstanding shares used to compute basic net loss per share (in shares)	4,202,836	4,151,406
Weighted average outstanding shares used to compute diluted net loss per share (in shares)	4,202,836	4,151,406

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Net (Loss)	$ (3,386,902)	$ (1,637,081)
Other Comprehensive Income (Loss)
Foreign currency translation adjustsments	3,830	45,222
Release of cumulative translation adjustment due to substantial liquidation of a foreign entity	253,180
Total Other Comprehensive Income (Loss)	257,010	45,222
Comprehensive (Loss)	$ (3,129,892)	$ (1,591,859)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Nov. 30, 2016	4,109,052
Balance at Nov. 30, 2016	$ 41,091	$ 2,746,509	$ 14,990,911	$ (302,232)		$ 17,476,279
Stock based compensation (in shares)	49,700				1,954
Stock based compensation	$ 496	112,543			$ (6,425)	106,614
Foreign Currency Translation Adjustment				45,222		45,222
Net (Loss)			(1,637,081)			(1,637,081)
Release of cumulative translation adjustment due to substantial liquidation of a foreign entity
Balance (in shares) at Nov. 30, 2017	4,158,752				1,954	4,158,752
Balance at Nov. 30, 2017	$ 41,587	2,859,052	13,353,830	(257,010)	$ (6,425)	$ 15,991,034
Stock based compensation (in shares)	66,298				7,332
Stock based compensation	$ 663	196,580			$ (21,310)	175,933
Foreign Currency Translation Adjustment				3,830		3,830
Net (Loss)			(3,386,902)			(3,386,902)
Release of cumulative translation adjustment due to substantial liquidation of a foreign entity				253,180		$ 253,180
Balance (in shares) at Nov. 30, 2018	4,225,050				9,286	4,225,050
Balance at Nov. 30, 2018	$ 42,250	$ 3,055,632	$ 9,966,928		$ (27,735)	$ 13,037,075

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Cash flows from operations:
Net (loss) from continuing operations	$ (3,336,049)	$ (1,369,359)
Net (loss) from discontinued operations	(50,853)	(267,722)
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Stock based compensation	197,243	113,039
Loss on release of cumulative translation adjustment	253,180
Realized foreign currency loss	3,830	45,222
Impairment of Assets	591,268	70,000
Gain on disposal of property, plant, and equipment	(4,837)	(3,673)
Depreciation and amortization expense	960,606	702,349
Bad debt expense (recovery)	(7,198)	9,552
Deferred income taxes	(531,026)	(572,175)
Changes in assets and liabilities:
Accounts receivable	380,379	(499,795)
Inventories	900,854	1,562,630
Income taxes receivable		265,924
Net investment in sales-type leases	(276,842)
Other assets	150,666	(161,358)
Accounts payable	128,409	203,795
Contracts in progress, net	102,662	87,117
Customer deposits	(454,693)	311,130
Income taxes payable	3,300	3,100
Accrued expenses	(88,274)	(37,498)
Net cash provided by (used in) operating activities - continuing operations	(1,026,522)	730,000
Net cash provided by (used in) operating activities - discontinued operations	(92,090)	17,399
Net cash provided by (used in) operating activities	(1,118,612)	747,399
Cash flows from investing activities:
Purchases of property, plant, and equipment	(434,505)	(513,614)
Additions to assets held for lease	(329,815)
Net proceeds from sale of assets	52,606	43,481
Net cash (used in) investing activities - continuing operations	(711,714)	(470,133)
Net cash provided by investing activities - discontinued operations	1,418,761	40,936
Net cash provided by (used in) investing activities	707,047	(429,197)
Cash flows from financing activities:
Net change in line of credit	(1,043,000)	821,584
Proceeds from term debt		2,600,000
Repayment of term debt	(219,429)	(2,825,148)
Repurchases of common stock	(21,310)	(6,425)
Net cash provided by (used in) financing activities - continuing operations	802,261	(1,053,157)
Net cash (used in) financing activities - discontinued operations	(599,584)	(116,361)
Net cash provided by (used in) financing activities	202,677	(1,169,518)
Net (decrease) in cash	(208,888)	(851,316)
Cash at beginning of period	212,400	1,063,716
Cash at end of period	3,512	212,400
Supplemental disclosures of cash flow information:
Interest	286,070	319,319
Income taxes	5,237	5,627
Supplemental disclosures of non-cash operating and investing activities:
Transfer of inventory to assets held for lease	$ 808,766

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Significant Accounting Policies [Text Block]	( 1 Summary of Significant Accounting Policies (a) Nature of Business Art’s-Way Manufacturing Co., Inc. (the “Company”) is primarily engaged in the fabrication and sale of specialized farm machinery in the agricultural sector of the United States. Primary product offerings include portable and stationary animal feed processing equipment; hay and forage equipment; sugar beet harvesting equipment; land maintenance equipment ; manure spreaders; moldboard plows; potato harvesters; and reels. The Company also manufactured commercial snow blowers under the Agro Trend label but sold the Agro Trend product line to Metco, Inc. on December 15, 2017. The Company’s Modular Buildings segment is primarily engaged in the construction of modular laboratories and animal housing facilities through the Company’s wholly-owned subsidiary, Art’s-Way Scientific, Inc. Buildings commonly produced range from basic swine buildings to complex containment research laboratories. This segment also provides services relating to the design, manufacturing, delivering, installation, and renting of the building units that it produces. The Company’s Tools segment is a domestic manufacturer and distributor of standard single point brazed carbide tipped tools as well as PCD (polycrystalline diamond) and CBN (cubic boron nitride) inserts and tools through the Company’s wholly-owned subsidiary, Ohio Metal Working Company/Art’s Way, Inc. The Company’s discontinued Pressurized Vessels segment was primarily engaged in the fabrication and sale of pressurized vessels and tanks through the Company’s wholly-owned subsidiary, Art’s-Way Vessels, Inc. On August 11, 2016, third 2016 October 31, 2016. March 29, 2018, $1,500,000. (b) Principles of Consolidation The consolidated financial statements include the accounts of Art’s-Way Manufacturing Co., Inc. and its wholly-owned subsidiaries for the 2018 During the second 2018 no no not (c) Cash Concentration The Company maintains several different accounts at two (d) Customer Concentration During the 2018 2017 no one 6% 4% (e) Accounts Receivable Accounts receivable are carried at original invoice amount less an estimate made for doubtful accounts based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by identifying troubled accounts and by using historical experience applied to an aging of accounts. Accounts receivable are written-off when deemed uncollectible. Recoveries of accounts receivable previously written-off are recorded when received. Accounts receivable are generally considered past due 60 180 Trade receivables due from customers are uncollateralized customer obligations due under normal trade terms requiring payment within 30 1.5% (f) Inventories Inventories are stated at the lower of cost or net realizable value, and cost is determined using the standard costing method. Management monitors the carrying value of inventories using inventory control and review processes that include, but are not may not (g) Property, Plant, and Equipment Property, plant, and equipment are recorded at cost. Depreciation of plant and equipment is provided using the straight-line method, based on the estimated useful lives of the assets which range from three forty (h) Lessor Accounting and Sales-Type Leases Modular buildings held for short term lease by our Modular Buildings segment are recorded at cost. Amortization of the property is calculated over the useful life of the building. Estimated useful life is three five The Company leases modular buildings to certain customers and accounts for these transactions as sales-type leases. These leases have terms of up to 36 (i) Goodwill and Impairment Goodwill represents costs in excess of the fair value of net tangible and identifiable net intangible assets acquired in business combinations. The Company performs an annual test for impairment of goodwill during the fourth $375,000 2018 $0 2017 (j) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not The Company classifies interest and penalties to be paid on an underpayment of taxes as income tax expense. The Company files income tax returns in the U.S. federal jurisdiction and various states and Canada. The Company is no November 30, 2014. On December 22, 2017, 2017 35% 21%. December 31, 2017. first 2018 $298,000 (k) Revenue Recognition Revenue is recognized when risk of ownership and title pass to the buyer, generally upon the shipment of the product. All sales are made to authorized dealers whose application for dealer status has been approved and who have been informed of general sales policies. Any changes in Company terms are documented in the most recently published price lists. Pricing is fixed and determinable according to the Company’s published equipment and parts price lists. Title to all equipment and parts sold pass to the buyer upon delivery to the carrier and is not not not In certain circumstances, upon the customer’s written request, the Company may not not no 2018 2017 $202,000 $184,000, The Company’s Modular Buildings segment is in the construction industry, and as such accounts for contracts on the percentage of completion method. Revenue and gross profit are recognized as work is performed based on the relationship between actual costs incurred and total estimated costs at completion. Contract costs consist of direct costs on contracts, including labor, materials, amounts payable to subcontractors and those indirect costs related to contract performance, such as equipment costs, insurance and employee benefits. Contract cost is recorded as incurred, and revisions in contract revenues and cost estimates are reflected in the accounting period when known. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Contract losses are recognized when current estimates of total contract revenue and contract cost indicate a loss. Estimated contract costs include any and all costs appropriately allocable to the contract. The provision for these contract losses will be the excess of estimated contract costs over estimated contract revenues. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract change orders, penalty provisions and final contract settlements may Costs and profit in excess of amounts billed are classified as current assets and billings in excess of cost and profit are classified as current liabilities. The Company leases modular buildings to certain customers and accounts for these transactions as operating or sales-type leases. These leases have terms of up to 36 (l) Research and Development Research and development costs are expensed when incurred. Such costs approximated $178,000 $183,000 2018 2017 (m ) Advertising Advertising costs are expensed when incurred. Such costs approximated $312,000 $356,000 2018 2017 (n) Net Income (Loss) Per Share of Common Stock Basic net income (loss) per share has been computed on the basis of the weighted average number of shares of common stock outstanding. Diluted net income (loss) per share of common stock has been computed on the basis of the weighted average number of shares outstanding plus equivalent shares of common stock 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 net income (loss) per share of common stock. Basic and diluted (loss) per common share have been computed based on the following as of November 30, 2018 2017: For the Twelve Months Ended November 30, 2018 November 30, 2017 Numerator for basic and diluted (loss) per share of common stock: Net (loss) from continuing operations $ (3,336,049 ) $ (1,369,359 ) Net (loss) from discontinued operations (50,853 ) (267,722 ) Net (loss) $ (3,386,902 ) $ (1,637,081 ) Denominator: For basic net (loss) per share - weighted average shares of common stock outstanding 4,202,836 4,151,406 Effect of dilutive stock options - - For diluted net (loss) per share - weighted average shares of common stock outstanding 4,202,836 4,151,406 Net (loss) per share - basic: Continuing operations $ (0.80 ) $ (0.33 ) Discontinued operations $ (0.01 ) $ (0.06 ) Net (loss) per share $ (0.81 ) $ (0.39 ) Net (loss) per share - diluted: Continuing operations $ (0.80 ) $ (0.33 ) Discontinued operations $ (0.01 ) $ (0.06 ) Net (loss) per share $ (0.81 ) $ (0.39 ) (p) Stock Based Compensation Stock-based 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 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. Restricted stock is valued at market value at the day of grant. (q) Use of Estimates Management has made a number of estimates and assumptions related to the reported amount of assets and liabilities, reported amount of revenues and expenses, and the disclosure of contingent assets and liabilities to prepare these financial statements in conformity with generally accepted accounting principles. Actual results could differ from those estimates. (r) Recently Issued Accounting Pronouncements Adopted Accounting Pronouncements Going Concern In August 2014, No. 2014 15, 205 40, Going Concern not one No. 2014 15 December 15, 2016. November 30, 2017, not 2017. Inventory In July 2015, 2015 11, 330 first No. 2015 11 December 15, 2016, November 30, 2017, not not Income Taxes In November 2015, 2015 17, 740 No. 2015 17 December 15, 2016 December 15, 2017. first 2017, 2015 17, not not no Accounting Pronouncements Not Revenue from Contracts with Customers In May 2014, No. 2014 09, 606 605 2014 09 2014 09 December 15, 2017, not 2014 09 2019 The Company has evaluated the new standard and applied the core principle to its contract revenue streams. To be consistent with this core principle, an entity is required to apply the following five 1. 2. 3. 4. 5. The Company’s revenues primarily result from contracts with customers. The Agricultural Products and Tools segments are generally short-term contracts and contain a single performance obligation – the delivery of product to the common carrier. The Company recognizes revenue for the sale of agriculture parts, equipment and tools upon shipment of the good. The Modular Buildings segment executes contracts with customers that can be short or long-term in nature. These contracts can have multiple performance obligations and revenue from these can be recognized over time or at a point in time depending on the nature of the contracts. Payment terms generally are short-term and vary by customer and segment. The implementation process will include modifications to the contracts of the modular buildings segment. The Company intends to adopt ASU 2014 09 606 not 605 not The Company, upon adoption of ASU 2014 09, not • Disaggregation of revenue that depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors; • The opening and closing balances of receivables, contract assets, and contract liabilities from contracts with customers, if not • Revenue recognized in the reporting period that was included in the contract liability balance at the beginning of the period; • Information about performance obligations in contracts with customers; and • Judgments that significantly affect the determination of the amount and timing of revenue from contracts with customers, including the timing satisfaction of performance obligation, and the transaction price and the amounts allocated to performance obligations. Leases In February 2016, 2016 02, 842 twelve December 15, 2018, 2020

Note 2 - Discontinued Operation

Note 2 - Discontinued Operations	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	( 2 Discontinued Operations Effective October 31, 2016, In January 2018, $1,500,000, $289,000 2017 $1,425,000, March 29, 2018, $1,500,000. As the Pressurized Vessels segment was a unique business unit of the Company, its liquidation was a strategic shift. In accordance with ASC Topic 360, Income from discontinued operations, before income taxes, in the accompanying consolidated statements of operations is comprised of the following: Twelve Months Ended November 30, 2018 November 30, 2017 Revenue from external customers $ - $ - Gross profit - - Total operating expense 51,133 357,709 (Loss) from operations (51,133 ) (357,709 ) (Loss) before tax (67,177 ) (400,739 ) The components of discontinued operations in the accompanying consolidated balance sheets are as follows: November 30, 2018 November 30, 2017 Cash $ - $ 2,454 Property, plant, and equipment, net - 1,425,000 Assets of discontinued operations $ - $ 1,427,454 Accrued expenses $ - $ 49,931 Notes payable - 599,584 Liabilities of discontinued operations $ - $ 649,515

Note 3 - Allowance for Doubtful

Note 3 - Allowance for Doubtful Accounts	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Allowance for Credit Losses [Text Block]	( 3 Allowance for Doubtful Accounts A summary of the Company’s activity in the allowance for doubtful accounts is as follows: For the Twelve Months Ended November 30, 2018 November 30, 2017 Balance, beginning $ 32,298 $ 22,746 Provision charged to expense 2,242 11,187 Less amounts charged-off (9,440 ) (1,635 ) Balance, ending $ 25,100 $ 32,298

Note 4 - Inventories

Note 4 - Inventories	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 4 Inventories Major classes of inventory are: November 30, 2018 November 30, 2017 Raw materials $ 7,825,278 $ 8,731,985 Work in process 272,302 460,687 Finished goods 5,051,330 5,395,353 Total Gross Inventory $ 13,148,910 $ 14,588,025 Less: Reserves (2,891,808 ) (2,621,303 ) Net Inventory $ 10,257,102 $ 11,966,722

Note 5 - Contracts in Progress

Note 5 - Contracts in Progress	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Long-term Contracts or Programs Disclosure [Text Block]	( 5 Contracts in Progress Amounts included in the consolidated financial statements related to uncompleted contracts are as follows: Cost and Profit in Billings in Excess of Excess of Billings Costs and Profit November 30, 2018 Costs $ 190,861 $ 99,782 Estimated earnings 54,721 121,115 245,582 220,897 Less: amounts billed (146,295 ) (405,911 ) $ 99,287 $ (185,014 ) November 30, 2017 Costs $ 105,639 $ 612,370 Estimated earnings 34,611 173,764 140,250 786,134 Less: amounts billed (75,104 ) (834,345 ) $ 65,146 $ (48,211 ) The amounts billed on these long-term contracts are due 30 12 $8,405 $37,052 November 30, 2018 2017,

Note 6 - Property, Plant, and E

Note 6 - Property, Plant, and Equipment	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	( 6 Property, Plant, and Equipment Major classes of property, plant, and equipment used in continuing operations are: November 30, 2018 November 30, 2017 Land $ 220,503 $ 220,503 Buildings and improvements 6,985,273 6,966,550 Construction in progress 35,669 14,798 Manufacturing machinery and equipment 11,062,856 10,932,085 Trucks and automobiles 491,822 428,774 Furniture and fixtures 121,646 113,956 18,917,769 18,676,666 Less accumulated depreciation (13,270,284 ) (12,729,709 ) Property, plant and equipment $ 5,647,485 $ 5,946,957 Depreciation and amortization expense for continuing operations totaled $960,606 $702,349 2018 2017

Note 7 - Assets Held for Lease

Note 7 - Assets Held for Lease	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Disclosure of Assets Available for Sale, Not Part of Discontinued Operations [Text Block]	( 7 Assets Held for Lease Major components of assets held for lease are: November 30, 2018 November 30, 2017 West Union Facility $ 878,079 $ 1,118,330 Modular Buildings 992,046 98,834 $ 1,870,125 $ 1,217,164 During the third 2018 $235,000 2018 $67,000 November 30, 2018 20,000 third December 14, 2018, $900,000. $216,000 2018 The Company’s Modular Buildings segment enters into leasing arrangements with customers from time-to-time. The Company had seven November 30, 2018 one November 30, 2017. Rents recognized from assets held for lease included in sales on the consolidated statements of operations during the 2018 $374,000 $161,000 2017 2018 $44,000 $234,000 2017 Future minimum lease receipts from assets held for lease are as follows: Year Ending November 30, Amount 2019 443,294 2020 90,411 Total 533,705

Note 8 - Accrued Expenses

Note 8 - Accrued Expenses	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	( 8 Accrued Expenses Major components of accrued expenses are: November 30, 2018 November 30, 2017 Salaries, wages, and commissions $ 448,737 $ 584,768 Accrued warranty expense 96,786 68,451 Other 347,761 328,339 $ 893,284 $ 981,558

Note 9 - Product Warranty

Note 9 - Product Warranty	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Product Warranty Disclosure [Text Block]	( 9 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 no may no not Changes in the Company’s product warranty liability included in “accrued expenses” for the 2018 2017 For the Twelve Months Ended November 30, 2018 November 30, 2017 Balance, beginning $ 68,451 $ 134,373 Settlements / adjustments (233,316 ) (276,667 ) Warranties issued 261,651 210,745 Balance, ending $ 96,786 $ 68,451

Note 10 - Loan and Credit Agree

Note 10 - Loan and Credit Agreements	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	( 10 Loan and Credit Agreements The Company maintains a revolving line of credit and a term loan with Bank Midwest as well as a term loan with The First National Bank of West Union, and previously maintained a second 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 March 29, 2018, $600,000 October 1, 2019 $596,563 $2,328 On November 30, 2018, $3,505,530 $1,494,470 75% 50% November 30, 2018, not 1.00% 4.25% 6.50% March 30, 2018. no March 30, 2019. The $2,600,000 5.00% first sixty 0.75% 4.15% may five $17,271 $62,400 0.5% 20% 20% 38% 2% $600,000 5.00%, $3,249 Each of the line of credit and the $2,600,000 September 28, 2017, $600,000 September 28, 2017, In connection with the 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 line of credit, the Company granted Bank Midwest a second December 2018. $2,600,000 $600,000 March 2018. 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 Compliance with Bank Midwest covenants is measured annually at November 30. 1.75, $5,100,000 1 1 40% 1.25, 0.10 November 30, 2018 no November 30, 2019. 120 Iowa Finance Authority Term Loan and Covenants On May 1, 2010, $1,300,000, 3.5% June 1, 2020. February 1, 2013, 2.75% This loan from the Iowa Finance Authority, which was assigned to The First National Bank of West Union (n/k/a Bank 1st May 28, 2010 February 1, 2013 May 1, 2010 February 1, 2013 ( 1.5 1.0, November 30 May 1, 2010 The Company was in compliance with all covenants except for the debt service coverage ratio covenant as measured on November 30, 2018. December 14, 2018 U.S. Bank Credit Facility The Company previously maintained a revolving line of credit and term loans with U.S. Bank. The material terms of the U.S. Bank credit facility were most recently disclosed in the Company’s Form 10 August 31, 2017, 8 8. September 28, 2017, A summary of the Company’s term debt is as follows: November 30, 2018 November 30, 2017 Bank Midwest loan payable in monthly installments of $17,271 including interest at 5.00%, due October 1, 2037 $ 2,517,510 $ 2,595,007 Bank Midwest loan payable in monthly installments of $3,249 including interest at 5.00%, due October 1, 2019 - 599,584 Iowa Finance Authority loan payable in monthly installments of $12,500 including interest at 2.75%, due June 1, 2020 232,967 374,900 Total term debt $ 2,750,477 $ 3,569,491 Less current portion of term debt 227,459 221,230 Term debt of discontinued operations - 599,584 Term debt, excluding current portion $ 2,523,018 $ 2,748,677 A summary of the minimum maturities of term debt follows for the years ending November 30: Year: Amount 2019 $ 227,459 2020 172,426 2021 90,179 2022 94,858 2023 99,781 2024 and thereafter 2,065,774 Total term debt $ 2,750,477

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	( 11 Related Party Transactions During the 2018 2017 not no 20% 2018 $25,773 $8,281 2017. November 30, 2018, $1,568 $1,621 November 30, 2017.

Note 12 - Sales-type Leases

Note 12 - Sales-type Leases	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Capital Leases in Financial Statements of Lessor Disclosure [Text Block]	( 12 Sales-Type Leases The components related to sales-type leases at November 30, 2018 November 30, 2018 Minimum lease receivable, current $ 159,500 Unearned interest income, current (36,445 ) Net investment in sales-type leases, current $ 123,055 Minimum lease receivable, long-term $ 168,277 Unearned interest income, long-term (14,490 ) Net investment in sales-type leases, long-term $ 153,787 Gross revenue recognized in sales from continuing operations on the consolidated statements of operations from commencement of sales-type leases for the 2018 $426,542. no 2017 Future minimum lease receipts from sales-type leases are as follows: Year Ending November 30, Amount 2019 $ 159,500 2020 162,425 2021 5,852 Total $ 327,777

Note 13 - Employee Benefit Plan

Note 13 - Employee Benefit Plans	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	( 13 Employee Benefit Plans The Company sponsors a defined contribution 401 may 25% 4% 1% $31,980 $34,523 2018 2017

Note 14 - Equity Incentive Plan

Note 14 - Equity Incentive Plan	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	( 14 Equity Incentive Plan On November 30, 2018, one 2011 $197,243 $113,039 2018 2017 2011 $157,529 $68,886 2018 2017 No On January 27, 2011, 2011 “2011 January 27, 2012. 2011 April 28, 2011. no 2011 The 2011 1,000 1,000 2018 51,200 three 37,098 2018 22,000 Stock options granted prior to January 27, 2011 The fair value of each option award is estimated on the date of grant using the Black Scholes option-pricing model. 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. 201 8 201 7 Expected Volatility - - Expected Dividend Yield - - Expected Term (in years) - - Risk-Free Rate - - The following is a summary of activity under the plans as of November 30, 2018 2017, 2018 Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options Outstanding at the Beginning of the Period 96,000 $ 7.77 Granted - - Exercised - - - Options Expired or Forfeited (37,000 ) 10.37 Options Outstanding at the End of the Period 59,000 6.07 3.86 - Options Exercisable at the End of the Period 59,000 6.07 3.86 - 2017 Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options Outstanding at the Beginning of the Period 143,500 $ 8.78 Granted - - Exercised - - - Options Expired or Forfeited (47,500 ) 10.84 Options Outstanding at the End of the Period 96,000 7.77 3.55 - Options Exercisable at the End of the Period 96,000 7.77 3.55 - No 2018 2017 November 30, 2018 November 30, 2017, no November 30, 2018, no No 2018 2017 The Company received no 2018 2017 During the 2018 88,298 26,150 22,000 2017 53,700 22,550 4,000

Note 15 - Income Taxes

Note 15 - Income Taxes	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 15 Income Taxes Total income tax expense (benefit) for the 2018 2017 November 30, 2018 November 30, 2017 Current Expense (benefit) $ 127,673 $ 15,360 Deferred expense (benefit) (654,413 ) (572,175 ) $ (526,740 ) $ (556,815 ) The reconciliation of the statutory Federal income tax rate is as follows: November 30, 2018 November 30, 2017 Statutory federal income tax rate 21.0 % 34.0 % Valuation allowance on foreign net operating loss (1.4 ) (7.8 ) Revaluation of deferred tax asset (7.6 ) - Permanent Differences and Other 1.5 (0.7 ) 13.5 % 25.5 % Tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at November 30, 2018 2017 November 30 2018 2017 Current deferred tax assets (liabilities): Accrued expenses $ 59,000 $ 95,000 Inventory capitalization 73,000 33,000 Net operating loss and tax credit carryforward 826,000 586,000 Asset reserves 609,000 746,000 Total current deferred tax assets $ 1,567,000 $ 1,460,000 Non-current deferred tax assets Property, plant, and equipment $ (135,000 ) $ (559,000 ) Total non-current deferred tax assets (liabilities) $ (135,000 ) $ (559,000 ) Net deferred taxes $ 1,432,000 $ 901,000 Based on the Company’s adoption of ASU 2015 17, 2018 2017 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not $3,300,000 $124,000 November 30, 2036, 2037 2038. On December 22, 2017, 2017 35% 21%. first 2018 November 30, 2017, $298,000, first 2018

Note 16 - Disclosures About the

Note 16 - Disclosures About the Fair Value of Financial Instruments	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 16 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 November 30, 2018, November 30, 2017, not not

Note 17 - Litigation and Contin

Note 17 - Litigation and Contingencies	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	( 17 Various legal actions and claims that arise in the normal course of business are pending against the Company. In the opinion of management adequate provisions have been made in the accompanying financial statements for all pending legal actions and other claims.

Note 18 - Segment Information

Note 18 - Segment Information	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 18 Segment Information There are three 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. Approximate financial information with respect to the reportable segments is as follows. The tables below exclude income and balance sheet data from discontinued operations. See Note 2 Twelve Months Ended November 30, 2018 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 14,344,000 $ 3,109,000 $ 2,274,000 $ 19,727,000 (Loss) from operations (2,462,000 ) (566,000 ) (67,000 ) (3,095,000 ) (Loss) before tax (3,206,000 ) (530,000 ) (110,000 ) (3,846,000 ) Total assets 15,458,000 3,401,000 2,466,000 21,325,000 Capital expenditures 321,000 439,000 4,000 764,000 Depreciation & amortization 516,000 317,000 128,000 961,000 Twelve Months Ended November 30, 2017 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 15,407,000 $ 2,700,000 $ 2,608,000 $ 20,715,000 (Loss) from operations (1,381,000 ) (313,000 ) (28,000 ) (1,722,000 ) (Loss) before tax (1,371,000 ) (349,000 ) (73,000 ) (1,793,000 ) Total assets 17,237,000 3,108,000 2,607,000 22,952,000 Capital expenditures 303,000 121,000 90,000 514,000 Depreciation & amortization 506,000 69,000 127,000 702,000

Note 19 - Subsequent Events

Note 19 - Subsequent Events	12 Months Ended
	Nov. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	( 19 Subsequent Events Management evaluated all other activity of the Company and concluded that no 7 10

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 30, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	(a) Nature of Business Art’s-Way Manufacturing Co., Inc. (the “Company”) is primarily engaged in the fabrication and sale of specialized farm machinery in the agricultural sector of the United States. Primary product offerings include portable and stationary animal feed processing equipment; hay and forage equipment; sugar beet harvesting equipment; land maintenance equipment ; manure spreaders; moldboard plows; potato harvesters; and reels. The Company also manufactured commercial snow blowers under the Agro Trend label but sold the Agro Trend product line to Metco, Inc. on December 15, 2017. The Company’s Modular Buildings segment is primarily engaged in the construction of modular laboratories and animal housing facilities through the Company’s wholly-owned subsidiary, Art’s-Way Scientific, Inc. Buildings commonly produced range from basic swine buildings to complex containment research laboratories. This segment also provides services relating to the design, manufacturing, delivering, installation, and renting of the building units that it produces. The Company’s Tools segment is a domestic manufacturer and distributor of standard single point brazed carbide tipped tools as well as PCD (polycrystalline diamond) and CBN (cubic boron nitride) inserts and tools through the Company’s wholly-owned subsidiary, Ohio Metal Working Company/Art’s Way, Inc. The Company’s discontinued Pressurized Vessels segment was primarily engaged in the fabrication and sale of pressurized vessels and tanks through the Company’s wholly-owned subsidiary, Art’s-Way Vessels, Inc. On August 11, 2016, third 2016 October 31, 2016. March 29, 2018, $1,500,000.
Consolidation, Policy [Policy Text Block]	(b) Principles of Consolidation The consolidated financial statements include the accounts of Art’s-Way Manufacturing Co., Inc. and its wholly-owned subsidiaries for the 2018 During the second 2018 no no not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	(c) Cash Concentration The Company maintains several different accounts at two (d) Customer Concentration During the 2018 2017 no one 6% 4%
Receivables, Policy [Policy Text Block]	(e) Accounts Receivable Accounts receivable are carried at original invoice amount less an estimate made for doubtful accounts based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by identifying troubled accounts and by using historical experience applied to an aging of accounts. Accounts receivable are written-off when deemed uncollectible. Recoveries of accounts receivable previously written-off are recorded when received. Accounts receivable are generally considered past due 60 180 Trade receivables due from customers are uncollateralized customer obligations due under normal trade terms requiring payment within 30 1.5%
Inventory, Policy [Policy Text Block]	(f) Inventories Inventories are stated at the lower of cost or net realizable value, and cost is determined using the standard costing method. Management monitors the carrying value of inventories using inventory control and review processes that include, but are not may not
Property, Plant and Equipment, Policy [Policy Text Block]	(g) Property, Plant, and Equipment Property, plant, and equipment are recorded at cost. Depreciation of plant and equipment is provided using the straight-line method, based on the estimated useful lives of the assets which range from three forty
Short-term Leases [Policy Text Block]	(h) Lessor Accounting and Sales-Type Leases Modular buildings held for short term lease by our Modular Buildings segment are recorded at cost. Amortization of the property is calculated over the useful life of the building. Estimated useful life is three five The Company leases modular buildings to certain customers and accounts for these transactions as sales-type leases. These leases have terms of up to 36
Goodwill and Intangible Assets, Policy [Policy Text Block]	(i) Goodwill and Impairment Goodwill represents costs in excess of the fair value of net tangible and identifiable net intangible assets acquired in business combinations. The Company performs an annual test for impairment of goodwill during the fourth $375,000 2018 $0 2017
Income Tax, Policy [Policy Text Block]	(j) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not The Company classifies interest and penalties to be paid on an underpayment of taxes as income tax expense. The Company files income tax returns in the U.S. federal jurisdiction and various states and Canada. The Company is no November 30, 2014. On December 22, 2017, 2017 35% 21%. December 31, 2017. first 2018 $298,000
Revenue Recognition, Policy [Policy Text Block]	(k) Revenue Recognition Revenue is recognized when risk of ownership and title pass to the buyer, generally upon the shipment of the product. All sales are made to authorized dealers whose application for dealer status has been approved and who have been informed of general sales policies. Any changes in Company terms are documented in the most recently published price lists. Pricing is fixed and determinable according to the Company’s published equipment and parts price lists. Title to all equipment and parts sold pass to the buyer upon delivery to the carrier and is not not not In certain circumstances, upon the customer’s written request, the Company may not not no 2018 2017 $202,000 $184,000, The Company’s Modular Buildings segment is in the construction industry, and as such accounts for contracts on the percentage of completion method. Revenue and gross profit are recognized as work is performed based on the relationship between actual costs incurred and total estimated costs at completion. Contract costs consist of direct costs on contracts, including labor, materials, amounts payable to subcontractors and those indirect costs related to contract performance, such as equipment costs, insurance and employee benefits. Contract cost is recorded as incurred, and revisions in contract revenues and cost estimates are reflected in the accounting period when known. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Contract losses are recognized when current estimates of total contract revenue and contract cost indicate a loss. Estimated contract costs include any and all costs appropriately allocable to the contract. The provision for these contract losses will be the excess of estimated contract costs over estimated contract revenues. Changes in job performance, job conditions and estimated profitability, including those changes arising from contract change orders, penalty provisions and final contract settlements may Costs and profit in excess of amounts billed are classified as current assets and billings in excess of cost and profit are classified as current liabilities. The Company leases modular buildings to certain customers and accounts for these transactions as operating or sales-type leases. These leases have terms of up to 36
Research and Development Expense, Policy [Policy Text Block]	(l) Research and Development Research and development costs are expensed when incurred. Such costs approximated $178,000 $183,000 2018 2017
Advertising Costs, Policy [Policy Text Block]	(m ) Advertising Advertising costs are expensed when incurred. Such costs approximated $312,000 $356,000 2018 2017
Earnings Per Share, Policy [Policy Text Block]	(n) Net Income (Loss) Per Share of Common Stock Basic net income (loss) per share has been computed on the basis of the weighted average number of shares of common stock outstanding. Diluted net income (loss) per share of common stock has been computed on the basis of the weighted average number of shares outstanding plus equivalent shares of common stock 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 net income (loss) per share of common stock. Basic and diluted (loss) per common share have been computed based on the following as of November 30, 2018 2017: For the Twelve Months Ended November 30, 2018 November 30, 2017 Numerator for basic and diluted (loss) per share of common stock: Net (loss) from continuing operations $ (3,336,049 ) $ (1,369,359 ) Net (loss) from discontinued operations (50,853 ) (267,722 ) Net (loss) $ (3,386,902 ) $ (1,637,081 ) Denominator: For basic net (loss) per share - weighted average shares of common stock outstanding 4,202,836 4,151,406 Effect of dilutive stock options - - For diluted net (loss) per share - weighted average shares of common stock outstanding 4,202,836 4,151,406 Net (loss) per share - basic: Continuing operations $ (0.80 ) $ (0.33 ) Discontinued operations $ (0.01 ) $ (0.06 ) Net (loss) per share $ (0.81 ) $ (0.39 ) Net (loss) per share - diluted: Continuing operations $ (0.80 ) $ (0.33 ) Discontinued operations $ (0.01 ) $ (0.06 ) Net (loss) per share $ (0.81 ) $ (0.39 )
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	(p) Stock Based Compensation Stock-based 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 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. Restricted stock is valued at market value at the day of grant.
Use of Estimates, Policy [Policy Text Block]	(q) Use of Estimates Management has made a number of estimates and assumptions related to the reported amount of assets and liabilities, reported amount of revenues and expenses, and the disclosure of contingent assets and liabilities to prepare these financial statements in conformity with generally accepted accounting principles. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	(r) Recently Issued Accounting Pronouncements Adopted Accounting Pronouncements Going Concern In August 2014, No. 2014 15, 205 40, Going Concern not one No. 2014 15 December 15, 2016. November 30, 2017, not 2017. Inventory In July 2015, 2015 11, 330 first No. 2015 11 December 15, 2016, November 30, 2017, not not Income Taxes In November 2015, 2015 17, 740 No. 2015 17 December 15, 2016 December 15, 2017. first 2017, 2015 17, not not no Accounting Pronouncements Not Revenue from Contracts with Customers In May 2014, No. 2014 09, 606 605 2014 09 2014 09 December 15, 2017, not 2014 09 2019 The Company has evaluated the new standard and applied the core principle to its contract revenue streams. To be consistent with this core principle, an entity is required to apply the following five 1. 2. 3. 4. 5. The Company’s revenues primarily result from contracts with customers. The Agricultural Products and Tools segments are generally short-term contracts and contain a single performance obligation – the delivery of product to the common carrier. The Company recognizes revenue for the sale of agriculture parts, equipment and tools upon shipment of the good. The Modular Buildings segment executes contracts with customers that can be short or long-term in nature. These contracts can have multiple performance obligations and revenue from these can be recognized over time or at a point in time depending on the nature of the contracts. Payment terms generally are short-term and vary by customer and segment. The implementation process will include modifications to the contracts of the modular buildings segment. The Company intends to adopt ASU 2014 09 606 not 605 not The Company, upon adoption of ASU 2014 09, not • Disaggregation of revenue that depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors; • The opening and closing balances of receivables, contract assets, and contract liabilities from contracts with customers, if not • Revenue recognized in the reporting period that was included in the contract liability balance at the beginning of the period; • Information about performance obligations in contracts with customers; and • Judgments that significantly affect the determination of the amount and timing of revenue from contracts with customers, including the timing satisfaction of performance obligation, and the transaction price and the amounts allocated to performance obligations. Leases In February 2016, 2016 02, 842 twelve December 15, 2018, 2020

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Twelve Months Ended November 30, 2018 November 30, 2017 Numerator for basic and diluted (loss) per share of common stock: Net (loss) from continuing operations $ (3,336,049 ) $ (1,369,359 ) Net (loss) from discontinued operations (50,853 ) (267,722 ) Net (loss) $ (3,386,902 ) $ (1,637,081 ) Denominator: For basic net (loss) per share - weighted average shares of common stock outstanding 4,202,836 4,151,406 Effect of dilutive stock options - - For diluted net (loss) per share - weighted average shares of common stock outstanding 4,202,836 4,151,406 Net (loss) per share - basic: Continuing operations $ (0.80 ) $ (0.33 ) Discontinued operations $ (0.01 ) $ (0.06 ) Net (loss) per share $ (0.81 ) $ (0.39 ) Net (loss) per share - diluted: Continuing operations $ (0.80 ) $ (0.33 ) Discontinued operations $ (0.01 ) $ (0.06 ) Net (loss) per share $ (0.81 ) $ (0.39 )

Note 2 - Discontinued Operati_2

Note 2 - Discontinued Operations (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement [Table Text Block]	Twelve Months Ended November 30, 2018 November 30, 2017 Revenue from external customers $ - $ - Gross profit - - Total operating expense 51,133 357,709 (Loss) from operations (51,133 ) (357,709 ) (Loss) before tax (67,177 ) (400,739 )
Disposal Groups, Including Discontinued Operations [Table Text Block]	November 30, 2018 November 30, 2017 Cash $ - $ 2,454 Property, plant, and equipment, net - 1,425,000 Assets of discontinued operations $ - $ 1,427,454 Accrued expenses $ - $ 49,931 Notes payable - 599,584 Liabilities of discontinued operations $ - $ 649,515

Note 3 - Allowance for Doubtf_2

Note 3 - Allowance for Doubtful Accounts (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	For the Twelve Months Ended November 30, 2018 November 30, 2017 Balance, beginning $ 32,298 $ 22,746 Provision charged to expense 2,242 11,187 Less amounts charged-off (9,440 ) (1,635 ) Balance, ending $ 25,100 $ 32,298

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	November 30, 2018 November 30, 2017 Raw materials $ 7,825,278 $ 8,731,985 Work in process 272,302 460,687 Finished goods 5,051,330 5,395,353 Total Gross Inventory $ 13,148,910 $ 14,588,025 Less: Reserves (2,891,808 ) (2,621,303 ) Net Inventory $ 10,257,102 $ 11,966,722

Note 5 - Contracts in Progress

Note 5 - Contracts in Progress (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Costs in Excess of Billings and Billings in Excess of Costs [Table Text Block]	Cost and Profit in Billings in Excess of Excess of Billings Costs and Profit November 30, 2018 Costs $ 190,861 $ 99,782 Estimated earnings 54,721 121,115 245,582 220,897 Less: amounts billed (146,295 ) (405,911 ) $ 99,287 $ (185,014 ) November 30, 2017 Costs $ 105,639 $ 612,370 Estimated earnings 34,611 173,764 140,250 786,134 Less: amounts billed (75,104 ) (834,345 ) $ 65,146 $ (48,211 )

Note 6 - Property, Plant, and_2

Note 6 - Property, Plant, and Equipment (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	November 30, 2018 November 30, 2017 Land $ 220,503 $ 220,503 Buildings and improvements 6,985,273 6,966,550 Construction in progress 35,669 14,798 Manufacturing machinery and equipment 11,062,856 10,932,085 Trucks and automobiles 491,822 428,774 Furniture and fixtures 121,646 113,956 18,917,769 18,676,666 Less accumulated depreciation (13,270,284 ) (12,729,709 ) Property, plant and equipment $ 5,647,485 $ 5,946,957

Note 7 - Assets Held for Lease

Note 7 - Assets Held for Lease (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Property Subject to or Available for Operating Lease [Table Text Block]	November 30, 2018 November 30, 2017 West Union Facility $ 878,079 $ 1,118,330 Modular Buildings 992,046 98,834 $ 1,870,125 $ 1,217,164
Schedule of Future Minimum Payments Receivable for Operating Leases [Table Text Block]	Year Ending November 30, Amount 2019 443,294 2020 90,411 Total 533,705

Note 8 - Accrued Expenses (Tabl

Note 8 - Accrued Expenses (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	November 30, 2018 November 30, 2017 Salaries, wages, and commissions $ 448,737 $ 584,768 Accrued warranty expense 96,786 68,451 Other 347,761 328,339 $ 893,284 $ 981,558

Note 9 - Product Warranty (Tabl

Note 9 - Product Warranty (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	For the Twelve Months Ended November 30, 2018 November 30, 2017 Balance, beginning $ 68,451 $ 134,373 Settlements / adjustments (233,316 ) (276,667 ) Warranties issued 261,651 210,745 Balance, ending $ 96,786 $ 68,451

Note 10 - Loan and Credit Agr_2

Note 10 - Loan and Credit Agreements (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Debt [Table Text Block]	November 30, 2018 November 30, 2017 Bank Midwest loan payable in monthly installments of $17,271 including interest at 5.00%, due October 1, 2037 $ 2,517,510 $ 2,595,007 Bank Midwest loan payable in monthly installments of $3,249 including interest at 5.00%, due October 1, 2019 - 599,584 Iowa Finance Authority loan payable in monthly installments of $12,500 including interest at 2.75%, due June 1, 2020 232,967 374,900 Total term debt $ 2,750,477 $ 3,569,491 Less current portion of term debt 227,459 221,230 Term debt of discontinued operations - 599,584 Term debt, excluding current portion $ 2,523,018 $ 2,748,677
Schedule of Maturities of Long-term Debt [Table Text Block]	Year: Amount 2019 $ 227,459 2020 172,426 2021 90,179 2022 94,858 2023 99,781 2024 and thereafter 2,065,774 Total term debt $ 2,750,477

Note 12 - Sales-type Leases (Ta

Note 12 - Sales-type Leases (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Sales-type Leases [Table Text Block]	November 30, 2018 Minimum lease receivable, current $ 159,500 Unearned interest income, current (36,445 ) Net investment in sales-type leases, current $ 123,055 Minimum lease receivable, long-term $ 168,277 Unearned interest income, long-term (14,490 ) Net investment in sales-type leases, long-term $ 153,787
Sales-type Leases, Lease Receivable Maturity [Table Text Block]	Year Ending November 30, Amount 2019 $ 159,500 2020 162,425 2021 5,852 Total $ 327,777

Note 14 - Equity Incentive Pl_2

Note 14 - Equity Incentive Plan (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	201 8 201 7 Expected Volatility - - Expected Dividend Yield - - Expected Term (in years) - - Risk-Free Rate - -
Share-based Compensation, Stock Options, Activity [Table Text Block]	Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options Outstanding at the Beginning of the Period 96,000 $ 7.77 Granted - - Exercised - - - Options Expired or Forfeited (37,000 ) 10.37 Options Outstanding at the End of the Period 59,000 6.07 3.86 - Options Exercisable at the End of the Period 59,000 6.07 3.86 - Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Options Outstanding at the Beginning of the Period 143,500 $ 8.78 Granted - - Exercised - - - Options Expired or Forfeited (47,500 ) 10.84 Options Outstanding at the End of the Period 96,000 7.77 3.55 - Options Exercisable at the End of the Period 96,000 7.77 3.55 -

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	November 30, 2018 November 30, 2017 Current Expense (benefit) $ 127,673 $ 15,360 Deferred expense (benefit) (654,413 ) (572,175 ) $ (526,740 ) $ (556,815 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	November 30, 2018 November 30, 2017 Statutory federal income tax rate 21.0 % 34.0 % Valuation allowance on foreign net operating loss (1.4 ) (7.8 ) Revaluation of deferred tax asset (7.6 ) - Permanent Differences and Other 1.5 (0.7 ) 13.5 % 25.5 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	November 30 2018 2017 Current deferred tax assets (liabilities): Accrued expenses $ 59,000 $ 95,000 Inventory capitalization 73,000 33,000 Net operating loss and tax credit carryforward 826,000 586,000 Asset reserves 609,000 746,000 Total current deferred tax assets $ 1,567,000 $ 1,460,000 Non-current deferred tax assets Property, plant, and equipment $ (135,000 ) $ (559,000 ) Total non-current deferred tax assets (liabilities) $ (135,000 ) $ (559,000 ) Net deferred taxes $ 1,432,000 $ 901,000

Note 18 - Segment Information (

Note 18 - Segment Information (Tables)	12 Months Ended
	Nov. 30, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Twelve Months Ended November 30, 2018 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 14,344,000 $ 3,109,000 $ 2,274,000 $ 19,727,000 (Loss) from operations (2,462,000 ) (566,000 ) (67,000 ) (3,095,000 ) (Loss) before tax (3,206,000 ) (530,000 ) (110,000 ) (3,846,000 ) Total assets 15,458,000 3,401,000 2,466,000 21,325,000 Capital expenditures 321,000 439,000 4,000 764,000 Depreciation & amortization 516,000 317,000 128,000 961,000 Twelve Months Ended November 30, 2017 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 15,407,000 $ 2,700,000 $ 2,608,000 $ 20,715,000 (Loss) from operations (1,381,000 ) (313,000 ) (28,000 ) (1,722,000 ) (Loss) before tax (1,371,000 ) (349,000 ) (73,000 ) (1,793,000 ) Total assets 17,237,000 3,108,000 2,607,000 22,952,000 Capital expenditures 303,000 121,000 90,000 514,000 Depreciation & amortization 506,000 69,000 127,000 702,000

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual)	Mar. 29, 2018USD ($)	Dec. 31, 2017	Feb. 28, 2018USD ($)	Dec. 31, 2018	Nov. 30, 2018USD ($)	Nov. 30, 2017USD ($)
Proceeds from Sale of Real Estate, Total	$ 1,500,000				$ 1,500,000
Overdue Trade Receivables Interest Rate Percent of Account Balances Per Month					1.50%
Goodwill, Impairment Loss					$ 375,000	$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%			21.00%	34.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability			$ 298,000		$ 298,000
Revenues, Total					19,726,793	$ 20,715,080
Research and Development Expense, Total					178,000	183,000
Advertising Expense					312,000	356,000
Product [Member]
Revenues, Total					$ 202,000	$ 184,000
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%
Maximum [Member]
Property, Plant and Equipment, Useful Life					40 years
Lessor, Capital Lease, Term of Contract					3 years
Maximum [Member] | Assets Leased to Others [Member]
Property, Plant and Equipment, Useful Life					5 years
Minimum [Member]
Property, Plant and Equipment, Useful Life					3 years
Minimum [Member] | Assets Leased to Others [Member]
Property, Plant and Equipment, Useful Life					3 years
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Number Of Major Customers					0	0
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Maximum [Member]
Concentration Risk, Percentage					6.00%	4.00%

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Basic and Diluted Earnings Per Common Share (Details) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Numerator for basic and diluted (loss) per share of common stock:
Net (loss) from continuing operations	$ (3,336,049)	$ (1,369,359)
Net (loss) from discontinued operations	(50,853)	(267,722)
Net (loss)	$ (3,386,902)	$ (1,637,081)
Denominator:
For basic net (loss) per share - weighted average shares of common stock outstanding (in shares)	4,202,836	4,151,406
Effect of dilutive stock options (in shares)
For diluted net (loss) per share - weighted average shares of common stock outstanding (in shares)	4,202,836	4,151,406
(Loss) per share - basic:
Continuing operations (in dollars per share)	$ (0.80)	$ (0.33)
Discontinued operations (in dollars per share)	(0.01)	(0.06)
Net (loss) per share (in dollars per share)	(0.81)	(0.39)
(Loss) per share - diluted:
Continuing operations (in dollars per share)	(0.80)	(0.33)
Discontinued operations (in dollars per share)	(0.01)	(0.06)
Net (loss) per share (in dollars per share)	$ (0.81)	$ (0.39)

Note 2 - Discontinued Operati_3

Note 2 - Discontinued Operations (Details Textual) - USD ($)	Mar. 29, 2018	Nov. 30, 2018	Nov. 30, 2017	Jan. 31, 2018
Real Estate Held for Sale, Sale Price Offer				$ 1,500,000
Impairment of Real Estate			$ 289,000
Real Estate Held for Sale, Expected Proceeds			$ 1,425,000
Proceeds from Sale of Real Estate, Total	$ 1,500,000	$ 1,500,000

Note 2 - Discontinued Operati_4

Note 2 - Discontinued Operations - Income From Discontinued Operations Before Income Taxes (Details) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
(Loss) before tax	$ (67,177)	$ (400,739)
Discontinued Operations, Held-for-sale [Member] | Vessels Segment [Member]
Revenue from external customers
Gross profit
Total operating expense	51,133	357,709
(Loss) from operations	(51,133)	(357,709)
(Loss) before tax	$ (67,177)	$ (400,739)

Note 2 - Discontinued Operati_5

Note 2 - Discontinued Operations - Components of Discontinued Operations (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Notes payable		$ 599,584
Discontinued Operations, Held-for-sale [Member] | Vessels Segment [Member]
Cash		2,454
Property, plant, and equipment, net		1,425,000
Assets of discontinued operations		1,427,454
Accrued expenses		49,931
Notes payable		599,584
Liabilities of discontinued operations		$ 649,515

Note 3 - Allowance for Doubtf_3

Note 3 - Allowance for Doubtful Accounts - Activity in the Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Balance, beginning	$ 32,298	$ 22,746
Provision charged to expense	2,242	11,187
Less amounts charged-off	(9,440)	(1,635)
Balance, ending	$ 25,100	$ 32,298

Note 4 - Inventories - Major Cl

Note 4 - Inventories - Major Classes of Inventory (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Raw materials	$ 7,825,278	$ 8,731,985
Work in process	272,302	460,687
Finished goods	5,051,330	5,395,353
Total Gross Inventory	13,148,910	14,588,025
Less: Reserves	(2,891,808)	(2,621,303)
Net Inventory	$ 10,257,102	$ 11,966,722

Note 5 - Contracts in Progres_2

Note 5 - Contracts in Progress (Details Textual) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Contract Receivable Retainage, Total	$ 8,405	$ 37,052

Note 5 - Contracts in Progres_3

Note 5 - Contracts in Progress - Long-term Contracts (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Costs in Excess of Billings, Cost	$ 190,861	$ 105,639
Billings in Excess of Costs, Costs	99,782	612,370
Costs in Excess of Billings, Estimated Earnings	54,721	34,611
Billings in Excess of Costs, Estimated Earnings	121,115	173,764
Costs in Excess of Billings, Costs and Estimated Earnings	245,582	140,250
Billings in Excess of Costs, Costs and Estimated Earnings	220,897	786,134
Costs in Excess of Billings, Amounts Billed	(146,295)	(75,104)
Billings in Excess of Costs, Amounts Billed	(405,911)	(834,345)
Cost and Profit in Excess of Billings	99,287	65,146
Billings in Excess of Cost	$ (185,014)	$ (48,211)

Note 6 - Property, Plant, and_3

Note 6 - Property, Plant, and Equipment (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Depreciation, Total	$ 960,606	$ 702,349

Note 6 - Property, Plant, and_4

Note 6 - Property, Plant, and Equipment - Major Classes of Property, Plant, and Equipment (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Property, plant and equipment, gross	$ 18,917,769	$ 18,676,666
Less accumulated depreciation	(13,270,284)	(12,729,709)
Property, plant and equipment	5,647,485	5,946,957
Land [Member]
Property, plant and equipment, gross	220,503	220,503
Building and Building Improvements [Member]
Property, plant and equipment, gross	6,985,273	6,966,550
Construction in Progress [Member]
Property, plant and equipment, gross	35,669	14,798
Machinery and Equipment [Member]
Property, plant and equipment, gross	11,062,856	10,932,085
Vehicles [Member]
Property, plant and equipment, gross	491,822	428,774
Furniture and Fixtures [Member]
Property, plant and equipment, gross	$ 121,646	$ 113,956

Note 7 - Assets Held for Leas_2

Note 7 - Assets Held for Lease (Details Textual)	Dec. 14, 2018USD ($)	Nov. 30, 2018USD ($)ft²	Nov. 30, 2017USD ($)
Proceeds from Sale of Property, Plant, and Equipment, Total		$ 52,606	$ 43,481
Asset Impairment Charges, Total		591,268	70,000
Sales [Member]
Operating Leases, Income Statement, Lease Revenue, Total		374,000	161,000
Other Nonoperating Income (Expense) [Member]
Operating Leases, Income Statement, Lease Revenue, Total		44,000	$ 234,000
West Union Facility [Member]
Remediation Cost		235,000
Inventory Write-down		$ 67,000
Area of Rental Space | ft²		20,000
Asset Impairment Charges, Total		$ 216,000
West Union Facility [Member] | Subsequent Event [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total	$ 900,000
Modular Buildings [Member]
Property Subject to or Available for Operating Lease, Number of Units		7	1

Note 7 - Assets Held for Leas_3

Note 7 - Assets Held for Lease - Summary of Assets Held for Lease (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Assets held for lease	$ 1,870,125	$ 1,217,164
West Union Facility [Member]
Assets held for lease	878,079	1,118,330
Modular Buildings [Member]
Assets held for lease	$ 992,046	$ 98,834

Note 7 - Assets Held for Leas_4

Note 7 - Assets Held for Lease - Future Minimum Lease Receipts From Assets Held for Lease (Details)	Nov. 30, 2018USD ($)
2,019	$ 443,294
2,020	90,411
Total	$ 533,705

Note 8 - Accrued Expenses - Maj

Note 8 - Accrued Expenses - Major Components Of Accrued Expenses (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Salaries, wages, and commissions	$ 448,737	$ 584,768
Accrued warranty expense	96,786	68,451
Other	347,761	328,339
Total accrued liabilities, current	$ 893,284	$ 981,558

Note 9 - Product Warranty (Deta

Note 9 - Product Warranty (Details Textual)	12 Months Ended
	Nov. 30, 2018
Standard Product Warrant Term	1 year

Note 9 - Product Warranty - Cha

Note 9 - Product Warranty - Changes in Product Warranty Liability (Details) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Balance, beginning	$ 68,451	$ 134,373
Settlements / adjustments	(233,316)	(276,667)
Warranties issued	261,651	210,745
Balance, ending	$ 96,786	$ 68,451

Note 10 - Loan and Credit Agr_3

Note 10 - Loan and Credit Agreements (Details Textual)	Mar. 29, 2018USD ($)	Sep. 28, 2017USD ($)	Nov. 30, 2018USD ($)	Nov. 30, 2017USD ($)	Feb. 01, 2013	May 01, 2010USD ($)
Long-term Debt, Total			$ 2,750,477	$ 3,569,491
Repayments of Long-term Debt, Total			219,429	2,825,148
Term Loan Due October 2037 [Member]
Long-term Debt, Total			$ 2,517,510	$ 2,595,007
Debt Instrument, Interest Rate, Stated Percentage			5.00%	5.00%
Debt Instrument, Periodic Payment, Total			$ 17,271	$ 17,271
Term Loan Due October 2019 [Member]
Long-term Debt, Total				$ 599,584
Debt Instrument, Interest Rate, Stated Percentage			5.00%	5.00%
Debt Instrument, Periodic Payment, Total			$ 3,249	$ 3,249
Iowa Finance Authority Term Loan [Member]
Long-term Debt, Total			$ 232,967	$ 374,900
Debt Instrument, Interest Rate, Stated Percentage			2.75%	2.75%
Debt Instrument, Periodic Payment, Total			$ 12,500	$ 12,500
Bank Midwest [Member]
Long-term Line of Credit, Total			3,505,530
Line of Credit Facility, Remaining Borrowing Capacity			$ 1,494,470
Line of Credit, Borrowing Base, Accounts Receivable		75.00%
Line of Credit, Borrowing Base, Inventory		50.00%
Debt Instrument, Covenant, Minimum Working Capital Ratio		1.75
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
Bank Midwest [Member] | Term Loan Due October 2037 [Member]
Long-term Debt, Total		$ 2,600,000
Debt Instrument, Periodic Payment, Total		17,271
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | United States Department of Agriculture [Member]
Upfront Guarantee Fee		$ 62,400
Guarantee Fee, Annual Fee, Percentage		0.50%
Guarantee Requirement, Personally Guarantee, Shareholders Ownership Percentage		20.00%
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | J. Ward McConnell Jr. [Member]
Personally Guaranteed, Percentage of Loan		38.00%
Personally Guaranteed, Fee, Percentage of Guaranteed Amount		2.00%
Bank Midwest [Member] | Term Loan Due October 2019 [Member]
Long-term Debt, Total		$ 600,000
Repayments of Long-term Debt, Total	$ 600,000
Repayments of Long-term Debt, Principal	596,563
Repayments of Long-term Debt, Interest	$ 2,328
Debt Instrument, Interest Rate, Stated Percentage		5.00%
Debt Instrument, Periodic Payment, Total		$ 3,249
Bank Midwest [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 5,000,000
Line of Credit Facility, Interest Rate During Period		6.50%
Bank Midwest [Member] | Revolving Credit Facility [Member] | Wall Street Journal Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		1.00%
Line of Credit Facility, Interest Rate During Period		4.25%
Bank Midwest [Member] | Term Loan Due October 2037 [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.00%
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage		4.15%
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | Wall Street Journal Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		0.75%
US Bank [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
The First National Bank of West Union [Member] | Iowa Finance Authority Term Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage					2.75%	3.50%
Debt Instrument, Face Amount						$ 1,300,000
Debt Instrument, Covenant Debt Service Coverage Ratio				1.5

Note 10 - Loan and Credit Agr_4

Note 10 - Loan and Credit Agreements - Summary of Term Debt (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Term debt	$ 2,750,477	$ 3,569,491
Less current portion of term debt	227,459	221,230
Term debt of discontinued operations		599,584
Term debt, excluding current portion	2,523,018	2,748,677
Term Loan Due October 2037 [Member]
Term debt	2,517,510	2,595,007
Term Loan Due October 2019 [Member]
Term debt		599,584
Iowa Finance Authority Term Loan [Member]
Term debt	$ 232,967	$ 374,900

Note 10 - Loan and Credit Agr_5

Note 10 - Loan and Credit Agreements - Summary of Term Debt (Details) (Parentheticals) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Term Loan Due October 2037 [Member]
Debt instrument, periodic payment	$ 17,271	$ 17,271
Debt instrument, interest rate, stated percentage	5.00%	5.00%
Term Loan Due October 2019 [Member]
Debt instrument, periodic payment	$ 3,249	$ 3,249
Debt instrument, interest rate, stated percentage	5.00%	5.00%
Iowa Finance Authority Term Loan [Member]
Debt instrument, periodic payment	$ 12,500	$ 12,500
Debt instrument, interest rate, stated percentage	2.75%	2.75%

Note 10 - Loan and Credit Agr_6

Note 10 - Loan and Credit Agreements - Summary of Minimum Maturities of Term Debt (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
2,019	$ 227,459
2,020	172,426
2,021	90,179
2,022	94,858
2,023	99,781
2024 and thereafter	2,065,774
Total term debt	$ 2,750,477	$ 3,569,491

Note 11 - Related Party Trans_2

Note 11 - Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Revenue from Related Parties	$ 0	$ 0
Due from Related Parties, Total	0	0
Related Party Transaction, Expenses from Transactions with Related Party	25,773	8,281
Due to Related Parties, Total	$ 1,568	$ 1,621
J. Ward McConnell Jr. [Member]
Related Party, Ownership Percentage	20.00%

Note 12 - Sales-type Leases (De

Note 12 - Sales-type Leases (Details Textual)	12 Months Ended
	Nov. 30, 2018USD ($)
Capital Leases, Income Statement, Sales Type Lease Revenue	$ 426,542

Note 12 - Sales-type Leases - C

Note 12 - Sales-type Leases - Components Related to Sales-type Leases (Details)	Nov. 30, 2018USD ($)
Minimum lease receivable, current	$ 159,500
Unearned interest income, current	(36,445)
Net investment in sales-type leases, current	123,055
Minimum lease receivable, long-term	168,277
Unearned interest income, long-term	(14,490)
Net investment in sales-type leases, long-term	$ 153,787

Note 12 - Sales-type Leases - F

Note 12 - Sales-type Leases - Future Minimum Lease Receipts (Details)	Nov. 30, 2018USD ($)
2,019	$ 159,500
2,020	162,425
2,021	5,852
Total	$ 327,777

Note 13 - Employee Benefit Pl_2

Note 13 - Employee Benefit Plans (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	25.00%
Defined Contribution Plan Minimum Threshold Percentage of Employee Contributions	4.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	1.00%
Defined Contribution Plan, Cost	$ 31,980	$ 34,523

Note 14 - Equity Incentive Pl_3

Note 14 - Equity Incentive Plan (Details Textual) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Jan. 27, 2011
Allocated Share-based Compensation Expense, Total	$ 197,243	$ 113,039
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	157,529	$ 68,886
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance	0	0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares	0	0
Proceeds from Stock Options Exercised	$ 0	$ 0
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		1,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	88,298	53,700
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	22,000	4,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	26,150	22,550
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	51,200
Restricted Stock [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	37,098

Note 14 - Equity Incentive Pl_4

Note 14 - Equity Incentive Plan - Fair Value Assumptions (Details)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Expected Volatility
Expected Dividend Yield
Expected Term (Year)
Risk-Free Rate

Note 14 - Equity Incentive Pl_5

Note 14 - Equity Incentive Plan - Option Activity (Details) - $ / shares	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Options Outstanding at Beginning of Period, Shares (in shares)	96,000	143,500
Options Outstanding at Beginning of Period, Weighted Average Exercise Price (in dollars per share)	$ 7.77	$ 8.78
Granted, Shares (in shares)	0	0
Granted, Weighted Average Exercise Price (in dollars per share)
Exercised, Shares (in shares)
Exercised, Weighted Average Exercise Price (in dollars per share)
Options Expired or Forfeited, Shares (in shares)	(37,000)	(47,500)
Options Expired or Forfeited, Weighted Average Exercise Price (in dollars per share)	$ 10.37	$ 10.84
Options Outstanding at the End of the Period, Shares (in shares)	59,000	96,000
Options Outstanding at the End of the Period, Weighted Average Exercise Price (in dollars per share)	$ 6.07	$ 7.77
Options Outstanding at the End of the Period, Weighted Average Remaining Contractual Term (Year)	3 years 313 days	3 years 200 days
Options Exercisable at the End of the Period, Shares (in shares)	59,000	96,000
Options Exercisable at the End of the Period, Weighted Average Exercise Price (in dollars per share)	$ 6.07	$ 7.77
Options Exercisable at the End of the Period, Weighted Average Remaining Contractual Term (Year)	3 years 313 days	3 years 200 days

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Feb. 28, 2018	Dec. 31, 2018	Nov. 30, 2018	Nov. 30, 2017
Operating Loss Carryforwards, Total				$ 3,300,000
Tax Credit Carryforward, Amount				$ 124,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%			21.00%	34.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 298,000		$ 298,000
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%

Note 15 - Income Taxes - Income

Note 15 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Current Expense (benefit)	$ 127,673	$ 15,360
Deferred expense (benefit)	(654,413)	(572,175)
Total	$ (526,740)	$ (556,815)

Note 15 - Income Taxes - Reconc

Note 15 - Income Taxes - Reconciliation of the Statutory Federal Income Tax Rate (Details)	1 Months Ended	12 Months Ended
	Dec. 31, 2017	Nov. 30, 2018	Nov. 30, 2017
Statutory federal income tax rate	35.00%	21.00%	34.00%
Valuation allowance on foreign net operating loss		(1.40%)	(7.80%)
Revaluation of deferred tax asset		(7.60%)
Permanent Differences and Other		1.50%	(0.70%)
Total		13.50%	25.50%

Note 15 - Income Taxes - Deferr

Note 15 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Accrued expenses	$ 59,000	$ 95,000
Inventory capitalization	73,000	33,000
Net operating loss and tax credit carryforward	826,000	586,000
Asset reserves	609,000	746,000
Total current deferred tax assets	1,567,000	1,460,000
Property, plant, and equipment	(135,000)	(559,000)
Total non-current deferred tax assets (liabilities)	(135,000)	(559,000)
Net deferred taxes	$ 1,432,000	$ 901,000

Note 18 - Segment Information_2

Note 18 - Segment Information (Details Textual)	12 Months Ended
	Nov. 30, 2018
Number of Reportable Segments	3

Note 18 - Segment Information -

Note 18 - Segment Information - Segment Reporting Information (Details) - USD ($)		12 Months Ended
		Nov. 30, 2018	Nov. 30, 2017
Revenues, Total		$ 19,726,793	$ 20,715,080
(Loss) from operations		(3,095,270)	(1,722,042)
Total assets		21,325,474	24,379,833
Capital expenditures		434,505	513,614
Depreciation & Amortization		960,606	702,349
Operating Segments [Member]
Revenues, Total	[1]	19,727,000	20,715,000
(Loss) from operations		(3,095,000)	(1,722,000)
(Loss) before tax		(3,846,000)	(1,793,000)
Total assets	[1]	21,325,000	22,952,000
Capital expenditures	[1]	764,000	514,000
Depreciation & Amortization	[1]	961,000	702,000
Operating Segments [Member] | Agricultural Products [Member]
Revenues, Total		14,344,000	15,407,000
(Loss) from operations		(2,462,000)	(1,381,000)
(Loss) before tax		(3,206,000)	(1,371,000)
Total assets		15,458,000	17,237,000
Capital expenditures		321,000	303,000
Depreciation & Amortization		516,000	506,000
Operating Segments [Member] | Modular Buildings [Member]
Revenues, Total		3,109,000	2,700,000
(Loss) from operations		(566,000)	(313,000)
(Loss) before tax		(530,000)	(349,000)
Total assets		3,401,000	3,108,000
Capital expenditures		439,000	121,000
Depreciation & Amortization		317,000	69,000
Operating Segments [Member] | Tools [Member]
Revenues, Total		2,274,000	2,608,000
(Loss) from operations		(67,000)	(28,000)
(Loss) before tax		(110,000)	(73,000)
Total assets		2,466,000	2,607,000
Capital expenditures		4,000	90,000
Depreciation & Amortization		$ 128,000	$ 127,000
[1]	The consolidated total in the table is a sum of segment figures and may not tie to actual figures in the condensed consolidated financial statements due to rounding.