Art's-Way Manufacturing (ARTW) 10-Q 10 Oct 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Aug. 31, 2019	Oct. 07, 2019
Document Information [Line Items]
Entity Registrant Name	ARTS WAY MANUFACTURING CO INC
Entity Central Index Key	0000007623
Trading Symbol	artw
Current Fiscal Year End Date	--11-30
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		4,298,212
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Aug. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Title of 12(b) Security	Common Stock

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
Current assets:
Cash	$ 5,045	$ 3,512
Accounts receivable-customers, net of allowance for doubtful accounts of $24,654 and $25,100 in 2019 and 2018, respectively	2,502,390	1,537,113
Inventories, net	9,762,914	10,257,102
Cost and profit in excess of billings	80,727	99,287
Net investment in sales-type leases, current	152,524	123,055
Other current assets	234,510	125,089
Total current assets	12,738,110	12,145,158
Property, plant, and equipment, net	5,465,620	5,647,485
Assets held for lease, net	759,640	1,870,125
Deferred income taxes	1,795,256	1,432,422
Net investment in sales-type leases, long-term	36,853	153,787
Other assets	72,517	76,497
Total assets	20,867,996	21,325,474
Current liabilities:
Accounts payable	1,035,257	802,062
Customer deposits	260,000	145,632
Billings in excess of cost and profit	1,315,877	185,014
Income taxes payable	6,400	6,400
Accrued expenses	955,897	893,284
Line of credit	2,909,530	3,505,530
Current portion of long-term debt	84,319	227,459
Total current liabilities	6,567,280	5,765,381
Long-term liabilities
Long-term debt, excluding current portion	2,372,184	2,523,018
Total liabilities	8,939,464	8,288,399
Commitments and Contingencies (Notes 9 and 10)
Stockholders’ equity:
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2019 and 2018; issued 0 shares in 2019 and 2018.
Common stock – $0.01 par value. Authorized 9,500,000 shares in 2019 and 2018; issued 4,316,087 in 2019 and 4,225,050 in 2018	43,161	42,250
Additional paid-in capital	3,214,766	3,055,632
Retained earnings	8,715,738	9,966,928
Treasury stock, at cost (17,875 in 2019 and 9,286 in 2018 shares)	(45,133)	(27,735)
Total stockholders’ equity	11,928,532	13,037,075
Total liabilities and stockholders’ equity	$ 20,867,996	$ 21,325,474

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
Allowance for doubtful accounts	$ 24,654	$ 25,100
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
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)	4,316,087	4,225,050
Treasury stock (in shares)	17,875	9,286

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Sales	$ 5,503,622	$ 5,280,269	$ 15,375,104	$ 15,940,268
Cost of goods sold	4,498,800	4,105,012	12,806,444	12,504,621
Gross profit	1,004,822	1,175,257	2,568,660	3,435,647
Expenses:
Engineering	116,153	201,845	380,139	458,447
Selling	378,811	475,604	1,119,428	1,448,124
General and administrative	814,702	857,740	2,466,073	2,655,844
Impairment of asset held for lease		199,175		199,175
Total expenses	1,309,666	1,734,364	3,965,640	4,761,590
Income (Loss) from operations	(304,844)	(559,107)	(1,396,980)	(1,325,943)
Other income (expense):
Interest expense	(89,208)	(82,058)	(274,649)	(220,445)
Other	24,082	(307,735)	61,997	(487,850)
Total other income (expense)	(65,126)	(389,793)	(212,652)	(708,295)
Income (Loss) from continuing operations before income taxes	(369,970)	(948,900)	(1,609,632)	(2,034,238)
Income tax expense (benefit)	(80,754)	(182,184)	(358,442)	(86,145)
Income (Loss) from continuing operations	(289,216)	(766,716)	(1,251,190)	(1,948,093)
Discontinued Operations
Income (loss) from operations of discontinued segment				(67,177)
Income tax expense (benefit)				16,324
Income (Loss) on discontinued operations				50,853
Net Income (Loss)	$ (289,216)	$ (766,716)	$ (1,251,190)	$ (1,998,946)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Net Income (Loss)	$ (289,216)	$ (766,716)	$ (1,251,190)	$ (1,998,946)
Other Comprehensive Income (Loss)
Foreign currency translation adjustments				3,830
Release of cumulative translation adjustment due to substantial liquidation of a foreign entity				253,180
Total Other Comprehensive Income (Loss)				257,010
Comprehensive (Loss)	$ (289,216)	$ (766,716)	$ (1,251,190)	$ (1,741,936)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - 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, 2017	4,158,752				1,954
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)	57,678				7,332
Stock based compensation	$ 577	157,513			$ (21,310)	136,780
Foreign Currency Translation Adjustment				3,830		3,830
Release of cumulative translation adjustment due to substantial liquidation of a foreign entity				253,180		253,180
Net Income (Loss)			(1,998,946)			(1,998,946)
Balance (in shares) at Aug. 31, 2018	4,216,430				9,286
Balance at Aug. 31, 2018	$ 42,164	3,016,565	11,354,884		$ (27,735)	14,385,878
Balance (in shares) at Nov. 30, 2018	4,225,050				9,286
Balance at Nov. 30, 2018	$ 42,250	3,055,632	9,966,928		$ (27,735)	13,037,075
Stock based compensation (in shares)	91,037				8,589
Stock based compensation	$ 911	159,134			$ (17,398)	142,647
Release of cumulative translation adjustment due to substantial liquidation of a foreign entity
Net Income (Loss)			(1,251,190)			(1,251,190)
Balance (in shares) at Aug. 31, 2019	4,316,087				17,875
Balance at Aug. 31, 2019	$ 43,161	$ 3,214,766	$ 8,715,738		$ (45,133)	$ 11,928,532

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Cash flows from operations:
Net (loss) from continuing operations	$ (1,251,190)	$ (1,948,093)
Net (loss) from discontinued operations		(50,853)
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities:
Stock based compensation	160,045	158,090
Loss on release of cumulative translation adjustment		253,180
Realized foreign currency loss		3,830
Impairment of asset held for lease		(199,175)
(Gain)/Loss on disposal of property, plant, and equipment	(10,000)	(12,084)
Depreciation and amortization expense	774,068	681,939
Bad debt expense (recovery)	(1,402)	(8,090)
Deferred income taxes	(362,834)	(103,854)
Changes in assets and liabilities:
Accounts receivable	(963,875)	(222,783)
Inventories	494,188	489,189
Net investment in sales-type leases	87,465	(329,021)
Other assets	(109,422)	100,020
Accounts payable	233,195	172,943
Contracts in progress, net	1,149,423	9,056
Customer deposits	114,368	(466,401)
Income taxes payable		400
Accrued expenses	62,613	252,748
Net cash provided by (used in) operating activities - continuing operations	376,642	(769,756)
Net cash (used in) operating activities - discontinued operations		(89,697)
Net cash provided by (used in) operating activities	376,642	(859,453)
Cash flows from investing activities:
Purchases of property, plant, and equipment	(367,450)	(265,418)
Net proceeds from sale of assets	899,713	52,607
Net cash provided by (used in) investing activities - continuing operations	532,263	(212,811)
Net cash provided by investing activities - discontinued operations		1,418,761
Net cash provided by investing activities	532,263	1,205,950
Cash flows from financing activities:
Net change in line of credit	596,000	(231,000)
Repayment of term debt	(293,974)	(164,115)
Repurchases of common stock	(17,398)	(21,310)
Net cash provided by (used in) financing activities - continuing operations	(907,372)	45,575
Net cash (used in) financing activities - discontinued operations		(599,584)
Net cash (used in) financing activities	(907,372)	(554,009)
Net increase (decrease) in cash	1,533	(207,512)
Cash at beginning of period	3,512	212,400
Cash at end of period	5,045	4,888
Supplemental disclosures of cash flow information:
Interest	253,140	225,249
Income taxes	3,855	3,600
Supplemental disclosures of non-cash operating and investing activities:
Transfer of inventory to assets held for lease		$ 808,766

Note 1 - Description of the Com

Note 1 - Description of the Company	9 Months Ended
	Aug. 31, 2019
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 The Company began operations as a farm equipment manufacturer in 1956. The Company has organized its business into three During the third 2016, 4 17

Note 2 - Summary of Significant

Note 2 - Summary of Significant Account Policies	9 Months Ended
	Aug. 31, 2019
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) that are, in the opinion of management, necessary for a fair presentation of the Company’s 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, 2018. three nine August 31, 2019 not November 30, 2019. During the second 2018, no no not Lessor Accounting and Sales-Type Leases Modular buildings held for short term lease by the modular buildings segment are recorded at cost. Amortization of each modular building is calculated over the useful life of the building. Estimated useful life is three five The Company accounts for leases of modular buildings to certain customers as sales-type leases. These leases have terms of up to 36 Estimates The preparation of financial statements 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, 2019. Revenue Recognition Effective December 1, 2018 606, 606” 606. 606 no 606, The Company’s revenues primarily result from contracts with customers. The major sources of revenue for the agricultural products and tools segments are farm equipment, service parts related to farm equipment and steel cutting tools and inserts. The agricultural products and tools segments generally execute short-term contracts that contain a single performance obligation – the delivery of product to the common carrier. The Company recognizes revenue for the production and sale of farm equipment, service parts and cutting tools upon shipment of the good(s). The agricultural products and tools segments each typically require payment in full 30 The agricultural products segment offers variable consideration in the form of discounts depending on participation in yearly early order programs. This variable consideration is allocated to the transaction price of all products in a sales arrangement and is not not not not For information on product warranty as it applies to ASC 606, 9

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	3 Revenue Recognition The following table displays revenue by reportable segment from external customers, disaggregated by major source. The Company believes disaggregating by these categories depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Three Months Ended August 31, 2019 Agricultural Modular Buildings Tools Total Farm equipment $ 2,392,000 $ - $ - $ 2,392,000 Farm equipment service parts 666,000 - - 666,000 Steel cutting tools and inserts - - 499,000 499,000 Modular buildings - 1,607,000 - 1,607,000 Modular building lease income - 165,000 - 165,000 Other 136,000 30,000 9,000 175,000 $ 3,194,000 $ 1,802,000 $ 508,000 $ 5,504,000 Three Months Ended August 31, 2018 Agricultural Modular Buildings Tools Total Farm equipment $ 3,005,000 $ - $ - $ 3,005,000 Farm equipment service parts 768,000 - - 768,000 Steel cutting tools and inserts - - 586,000 586,000 Modular buildings - 568,000 - 568,000 Modular building lease income - 126,000 - 126,000 Other 140,000 79,000 8,000 227,000 $ 3,913,000 $ 773,000 $ 594,000 $ 5,280,000 Nine Months Ended August 31, 2019 Agricultural Modular Buildings Tools Total Farm equipment $ 7,274,000 $ - $ - $ 7,274,000 Farm equipment service parts 1,880,000 - - 1,880,000 Steel cutting tools and inserts - - 1,527,000 1,527,000 Modular buildings - 3,773,000 - 3,773,000 Modular building lease income - 512,000 - 512,000 Other 287,000 97,000 25,000 409,000 $ 9,441,000 $ 4,382,000 $ 1,552,000 $ 15,375,000 Nine Months Ended August 31, 2018 Agricultural Modular Buildings Tools Total Farm equipment $ 9,395,000 $ - $ - $ 9,395,000 Farm equipment service parts 2,036,000 - - 2,036,000 Steel cutting tools and inserts - - 1,789,000 1,789,000 Modular buildings - 1,981,200 - 1,981,200 Modular building lease income - 242,000 - 242,000 Other 347,000 122,800 27,000 496,800 $ 11,778,000 $ 2,346,000 $ 1,816,000 $ 15,940,000 The following table provides information about contract receivables, contract assets, and contract liabilities from contracts with customers included on the Condensed Consolidated Balance Sheets. August 31, 2019 November 30, 2018 Receivables $ 1,074,000 $ 159,000 Assets 81,000 99,000 Liabilities 1,483,000 185,000 The amount of revenue recognized in the first nine 2019 November 30, 2018 $185,000 $516,217 2018. August 31, 2019. November 30, 2018 The Company will utilize the practical expedient exception for these contracts and will report only on performance obligations greater than one August 31, 2019, no one

Note 4 - Discontinued Operation

Note 4 - Discontinued Operations	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	4 Discontinued Operations Effective October 31, 2016, 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 (loss) from discontinued operations, before tax in the accompanying Condensed Consolidated Statements of Operations is comprised of the following: Nine Months Ended August 31, 2018 Revenue from external customers $ - Gross Profit - Operating Expense 51,133 Income (loss) from operations (51,133 ) Income (loss) before tax (67,177 ) There were no August 31, 2019 November 30, 2018.

Note 5 - Net Income (Loss) Per

Note 5 - Net Income (Loss) Per Share of Common Stock	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	5 Net Income (Loss) Per Share of Common Stock Basic net income (loss) per share of common stock 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 net income (loss) per share. Basic and diluted net income (loss) per share have been computed based on the following as of August 31, 2019 August 31, 2018: For the Three Months Ended August 31, 2019 August 31, 2018 Numerator for basic and diluted net income (loss) per share: Net income (loss) from continuing operations $ (289,216 ) $ (766,716 ) Net income (loss) from discontinued operations - - Net income (loss) $ (289,216 ) $ (766,716 ) Denominator: For basic net income (loss) per share - weighted average common shares outstanding 4,309,587 4,209,445 Effect of dilutive stock options - - For diluted net income (loss) per share - weighted average common shares outstanding 4,309,587 4,209,445 Net Income (Loss) per share - Basic: Continuing Operations $ (0.07 ) $ (0.18 ) Discontinued Operations $ - $ - Net Income (Loss) per share $ (0.07 ) $ (0.18 ) Net Income (Loss) per share - Diluted: Continuing Operations $ (0.07 ) $ (0.18 ) Discontinued Operations $ - $ - Net Income (Loss) per share $ (0.07 ) $ (0.18 ) For the Nine Months Ended August 31, 2019 August 31, 2018 Numerator for basic and diluted net income (loss) per share: Net income (loss) from continuing operations $ (1,251,190 ) $ (1,948,093 ) Net income (loss) from discontinued operations - (50,853 ) Net income (loss) $ (1,251,190 ) $ (1,998,946 ) Denominator: For basic net income (loss) per share - weighted average common shares outstanding 4,285,535 4,198,250 Effect of dilutive stock options - - For diluted net income (loss) per share - weighted average common shares outstanding 4,285,535 4,198,250 Net Income (Loss) per share - Basic: Continuing Operations $ (0.29 ) $ (0.46 ) Discontinued Operations $ - $ (0.01 ) Net Income (Loss) per share $ (0.29 ) $ (0.47 ) Net Income (Loss) per share - Diluted: Continuing Operations $ (0.29 ) $ (0.46 ) Discontinued Operations $ - $ (0.01 ) Net Income (Loss) per share $ (0.29 ) $ (0.47 )

Note 6 - Inventory

Note 6 - Inventory	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	6 Inventory Major classes of inventory are: August 31, 2019 November 30, 2018 Raw materials $ 7,341,067 $ 7,825,278 Work in process 451,970 272,302 Finished goods 4,648,778 5,051,330 Gross inventory $ 12,441,815 $ 13,148,910 Less: Reserves (2,678,901 ) (2,891,808 ) Net Inventory $ 9,762,914 $ 10,257,102

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7 Accrued Expenses Major components of accrued expenses are: August 31, 2019 November 30, 2018 Salaries, wages, and commissions $ 529,072 $ 448,737 Accrued warranty expense 140,835 96,786 Other 285,990 347,761 $ 955,897 $ 893,284

Note 8 - Assets Held for Lease

Note 8 - Assets Held for Lease	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Disclosure of Assets Available for Sale, Not Part of Discontinued Operations [Text Block]	8 Assets Held for Lease Major components of assets held for lease are: August 31, 2019 November 30, 2018 West Union Facility $ - $ 878,079 Modular Buildings 759,640 992,046 Net assets held for lease $ 759,640 $ 1,870,125 Rents recognized from assets held for lease included in sales on the Consolidated Statements of Operations during the three nine August 31, 2019 $164,508 $512,017, $126,248 $241,766 2018. three nine August 31, 2019 $0 $2,500, $0 $38,180 2018. December 14, 2018 $900,000. Future minimum lease receipts from assets held for lease are as follows: Future Minimum Leased Assets Year Ending November 30, Amount 2019 $ 163,008 2020 283,989 Total $ 446,997

Note 9 - Product Warranty

Note 9 - Product Warranty	9 Months Ended
	Aug. 31, 2019
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 not 606. may no not 7 three nine August 31, 2019 August 31, 2018 For the Three Months Ended August 31, 2019 August 31, 2018 Balance, beginning $ 89,637 $ 71,216 Settlements / adjustments (42,691 ) (73,108 ) Warranties issued 93,889 73,155 Balance, ending $ 140,835 $ 71,263 For the Nine Months Ended August 31, 2019 August 31, 2018 Balance, beginning $ 96,786 $ 68,452 Settlements / adjustments (237,629 ) (214,674 ) Warranties issued 281,678 217,485 Balance, ending $ 140,835 $ 71,263

Note 10 - Loan and Credit Agree

Note 10 - Loan and Credit Agreements	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	10 Loan and Credit Agreements The Company maintains two Bank Midwest Revolving Line s of Credit and Term Loans On September 28, 2017, $5,000,000 “2017 $2,600,000 October 1, 2037, $600,000 October 1, 2019. 2017 March 29, 2018, $600,000 October 1, 2019 $596,563 $2,328 On August 31, 2019, 2017 $2,909,530 $2,090,470 may 2017 75% 50% 2017 August 31, 2019, 2017 not 2017 1.00% 4.25% 6.00% 2017 March 30, 2019. 2017 no March 30, 2020. The $2,600,000 5.00% first sixty 0.75% 4.15% may five $17,271 $62,400 0.5% 20% 20% 38% 2% On February 13, 2019, $4,000,000 “2019 2019 2019 1.00% 4.25% 6.00% 2019 no one February 13, 2020. August 31, 2019, 2019 Each of the 2017 $2,600,000 September 28, 2017, 2019 February 13, 2019, In connection with the 2017 September 28, 2017, first 2017 September 28, 2017. 2019 To further secure the 2017 second December 14, 2018. 2019 $2,600,000 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 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. First National Bank of West Union Term Loan On May 1, 2010, $1,300,000 May 1, 2010 On December 14, 2018, A summary of the Company’s term debt is as follows: August 31, 2019 November 30, 2018 Bank Midwest loan payable in monthly installments of $17,271 including interest at 5.00%, due October 1, 2037 $ 2,456,503 $ 2,517,510 First National Bank of West Union loan payable in monthly installments of $12,500 including interest at 2.75%, due June 1, 2020 - 232,967 Total term debt $ 2,456,503 $ 2,750,477 Less current portion of term debt 84,319 227,459 Term debt, excluding current portion $ 2,372,184 $ 2,523,018 A summary of the minimum maturities of term debt follows for the years ending November 30: Year Amount 2019 20,511 2020 85,401 2021 90,179 2022 94,858 2023 99,781 2024 and thereafter 2,065,773 Total Term Debt $ 2,456,503

Note 11 - Income Taxes

Note 11 - Income Taxes	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11 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. On December 22, 2017, 2017 35% 21%. first 2018. nine August 31, 2018 $298,000

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12 Related Party Transactions From time to time, the Company purchases various supplies from related parties, which are companies owned by J. Ward McConnell, Jr., the Company’s Vice Chairman of the Board of Directors. Also, J. Ward McConnell, Jr. as a shareholder owning more than 20% three nine August 31, 2019, $6,624 $21,273, $5,957 $17,986 2018. August 31, 2019 $1,581 $1,633 2018.

Note 13 - Sales-type Leases

Note 13 - Sales-type Leases	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Capital Leases in Financial Statements of Lessor Disclosure [Text Block]	13 Sales-Type Leases The components related to sales-type leases at August 31, 2019 November 30, 2018 August 31, 2019 November 30, 2018 Minimum lease receivable, current $ 174,000 $ 159,500 Unearned interest income, current (21,476 ) $ (36,445 ) Net investment in sales-type leases, current 152,524 123,055 Minimum lease receivable, long-term 37,777 $ 168,277 Unearned interest income, long-term (924 ) $ (14,490 ) Net investment in sales-type leases, long-term $ 36,853 $ 153,787 Gross revenue recognized in sales from continuing operations on the Consolidated Statements of Operations from commencement of sales-type leases for the three nine August 31, 2019 $ 0 $0 $426,542 2018. Future minimum lease receipts from sales-type leases are as follows: Year Ending November 30, Amount 2019 $ 43,500 2020 162,426 2021 5,851 Total $ 211,777

Note 14 - Recently Issued Accou

Note 14 - Recently Issued Accounting Pronouncements	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	14 Recently Issued Accounting Pronouncements Accounting Pronouncements Not Leases In February 2016, 2016 02, 842 twelve December 15, 2018, 2020 not not ● Nature of its leases ● Significant assumptions and judgements used ● Information about leases that have not ● Related-party lease transactions ● Accounting policy election regarding short-term leases ● Finance, operating, short-term and variable lease costs ● Maturity analysis of operating lease payments, lease receivables and lease obligations ● Tabular disclosure of lease-related income ● Components of the net investment in a lease ● Information on the management of risk associated with residual asset

Note 15 - Equity Incentive Plan

Note 15 - Equity Incentive Plan and Stock Based Compensation	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	15 Equity Incentive Plan and Stock Based Compensation On January 27, 2011, 2011 “2011 2011 April 28, 2011. no 2011 January 27, 2011 The 2011 1,000 1,000 first nine 2019, 72,437 three 21,000 first nine 2019, 2,400 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 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 nine August 31, 2019 2018. $40,601 $160,045 three nine August 31, 2019, $46,654 $158,090 2018. 8,589 7,332 nine August 31, 2019 August 31, 2018, nine August 31, 2019 $142,647 $136,780, 2018.

Note 16 - Disclosures About the

Note 16 - Disclosures About the Fair Value of Financial Instruments	9 Months Ended
	Aug. 31, 2019
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 August 31, 2019 November 30, 2018, not not

Note 17 - Segment Information

Note 17 - Segment Information	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	17 Segment Information The Company has 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, exclusive of nonrecurring gains and losses. 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 4 Three Months Ended August 31, 2019 Agricultural Products Modular Buildings Tools Consolidated* Revenue from external customers $ 3,194,000 $ 1,802,000 $ 508,000 $ 5,504,000 Income (loss) from operations (435,000 ) 146,000 (16,000 ) (305,000 ) Income (loss) before tax (496,000 ) 151,000 (25,000 ) (370,000 ) Total Assets 14,383,000 3,917,000 2,568,000 20,868,000 Capital expenditures 92,000 75,000 15,000 182,000 Depreciation & Amortization 126,000 66,000 32,000 224,000 Three Months Ended August 31, 2018 Agricultural Products Modular Buildings Tools Consolidated* Revenue from external customers $ 3,913,000 $ 773,000 $ 594,000 $ 5,280,000 Income (loss) from operations (450,000 ) (141,000 ) 32,000 (559,000 ) Income (loss) before tax (835,000 ) (136,000 ) 22,000 (949,000 ) Total Assets 15,999,000 3,692,000 2,484,000 22,175,000 Capital expenditures 92,000 13,000 - 105,000 Depreciation & Amortization 126,000 116,000 31,000 273,000 Nine Months Ended August 31, 2019 Agricultural Products Modular Buildings Tools Consolidated* Revenue from external customers $ 9,441,000 $ 4,382,000 $ 1,552,000 $ 15,375,000 Income (loss) from operations (1,334,000 ) (14,000 ) (49,000 ) (1,397,000 ) Income (loss) before tax (1,527,000 ) (4,000 ) (79,000 ) (1,610,000 ) Total Assets 14,383,000 3,917,000 2,568,000 20,868,000 Capital expenditures 201,000 123,000 43,000 367,000 Depreciation & Amortization 375,000 303,000 96,000 774,000 Nine Months Ended August 31, 2018 Agricultural Products Modular Buildings Tools Consolidated* Revenue from external customers $ 11,778,000 $ 2,346,000 $ 1,816,000 $ 15,940,000 Income (loss) from operations (988,000 ) (347,000 ) 9,000 (1,326,000 ) Income (loss) before tax (1,680,000 ) (330,000 ) (24,000 ) (2,034,000 ) Total Assets 15,999,000 3,692,000 2,484,000 22,175,000 Capital expenditures 163,000 99,000 4,000 266,000 Depreciation & Amortization 391,000 196,000 95,000 682,000 *The consolidated total in the tables is a sum of segment figures and may not

Note 18 - Subsequent Events

Note 18 - Subsequent Events	9 Months Ended
	Aug. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	18 Subsequent Events Management evaluated all other activity of the Company and concluded that no

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Aug. 31, 2019
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) that are, in the opinion of management, necessary for a fair presentation of the Company’s 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, 2018. three nine August 31, 2019 not November 30, 2019. During the second 2018, no no not
Lessor, Leases [Policy Text Block]	Lessor Accounting and Sales-Type Leases Modular buildings held for short term lease by the modular buildings segment are recorded at cost. Amortization of each modular building is calculated over the useful life of the building. Estimated useful life is three five The Company accounts for leases of modular buildings to certain customers as sales-type leases. These leases have terms of up to 36
Use of Estimates, Policy [Policy Text Block]	Estimates The preparation of financial statements 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, 2019.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition Effective December 1, 2018 606, 606” 606. 606 no 606, The Company’s revenues primarily result from contracts with customers. The major sources of revenue for the agricultural products and tools segments are farm equipment, service parts related to farm equipment and steel cutting tools and inserts. The agricultural products and tools segments generally execute short-term contracts that contain a single performance obligation – the delivery of product to the common carrier. The Company recognizes revenue for the production and sale of farm equipment, service parts and cutting tools upon shipment of the good(s). The agricultural products and tools segments each typically require payment in full 30 The agricultural products segment offers variable consideration in the form of discounts depending on participation in yearly early order programs. This variable consideration is allocated to the transaction price of all products in a sales arrangement and is not not not not For information on product warranty as it applies to ASC 606, 9

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended August 31, 2019 Agricultural Modular Buildings Tools Total Farm equipment $ 2,392,000 $ - $ - $ 2,392,000 Farm equipment service parts 666,000 - - 666,000 Steel cutting tools and inserts - - 499,000 499,000 Modular buildings - 1,607,000 - 1,607,000 Modular building lease income - 165,000 - 165,000 Other 136,000 30,000 9,000 175,000 $ 3,194,000 $ 1,802,000 $ 508,000 $ 5,504,000 Three Months Ended August 31, 2018 Agricultural Modular Buildings Tools Total Farm equipment $ 3,005,000 $ - $ - $ 3,005,000 Farm equipment service parts 768,000 - - 768,000 Steel cutting tools and inserts - - 586,000 586,000 Modular buildings - 568,000 - 568,000 Modular building lease income - 126,000 - 126,000 Other 140,000 79,000 8,000 227,000 $ 3,913,000 $ 773,000 $ 594,000 $ 5,280,000 Nine Months Ended August 31, 2019 Agricultural Modular Buildings Tools Total Farm equipment $ 7,274,000 $ - $ - $ 7,274,000 Farm equipment service parts 1,880,000 - - 1,880,000 Steel cutting tools and inserts - - 1,527,000 1,527,000 Modular buildings - 3,773,000 - 3,773,000 Modular building lease income - 512,000 - 512,000 Other 287,000 97,000 25,000 409,000 $ 9,441,000 $ 4,382,000 $ 1,552,000 $ 15,375,000 Nine Months Ended August 31, 2018 Agricultural Modular Buildings Tools Total Farm equipment $ 9,395,000 $ - $ - $ 9,395,000 Farm equipment service parts 2,036,000 - - 2,036,000 Steel cutting tools and inserts - - 1,789,000 1,789,000 Modular buildings - 1,981,200 - 1,981,200 Modular building lease income - 242,000 - 242,000 Other 347,000 122,800 27,000 496,800 $ 11,778,000 $ 2,346,000 $ 1,816,000 $ 15,940,000
Contract with Customer, Asset and Liability [Table Text Block]	August 31, 2019 November 30, 2018 Receivables $ 1,074,000 $ 159,000 Assets 81,000 99,000 Liabilities 1,483,000 185,000

Note 4 - Discontinued Operati_2

Note 4 - Discontinued Operations (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement [Table Text Block]	Nine Months Ended August 31, 2018 Revenue from external customers $ - Gross Profit - Operating Expense 51,133 Income (loss) from operations (51,133 ) Income (loss) before tax (67,177 )

Note 5 - Net Income (Loss) Pe_2

Note 5 - Net Income (Loss) Per Share of Common Stock (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended August 31, 2019 August 31, 2018 Numerator for basic and diluted net income (loss) per share: Net income (loss) from continuing operations $ (289,216 ) $ (766,716 ) Net income (loss) from discontinued operations - - Net income (loss) $ (289,216 ) $ (766,716 ) Denominator: For basic net income (loss) per share - weighted average common shares outstanding 4,309,587 4,209,445 Effect of dilutive stock options - - For diluted net income (loss) per share - weighted average common shares outstanding 4,309,587 4,209,445 Net Income (Loss) per share - Basic: Continuing Operations $ (0.07 ) $ (0.18 ) Discontinued Operations $ - $ - Net Income (Loss) per share $ (0.07 ) $ (0.18 ) Net Income (Loss) per share - Diluted: Continuing Operations $ (0.07 ) $ (0.18 ) Discontinued Operations $ - $ - Net Income (Loss) per share $ (0.07 ) $ (0.18 ) For the Nine Months Ended August 31, 2019 August 31, 2018 Numerator for basic and diluted net income (loss) per share: Net income (loss) from continuing operations $ (1,251,190 ) $ (1,948,093 ) Net income (loss) from discontinued operations - (50,853 ) Net income (loss) $ (1,251,190 ) $ (1,998,946 ) Denominator: For basic net income (loss) per share - weighted average common shares outstanding 4,285,535 4,198,250 Effect of dilutive stock options - - For diluted net income (loss) per share - weighted average common shares outstanding 4,285,535 4,198,250 Net Income (Loss) per share - Basic: Continuing Operations $ (0.29 ) $ (0.46 ) Discontinued Operations $ - $ (0.01 ) Net Income (Loss) per share $ (0.29 ) $ (0.47 ) Net Income (Loss) per share - Diluted: Continuing Operations $ (0.29 ) $ (0.46 ) Discontinued Operations $ - $ (0.01 ) Net Income (Loss) per share $ (0.29 ) $ (0.47 )

Note 6 - Inventory (Tables)

Note 6 - Inventory (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	August 31, 2019 November 30, 2018 Raw materials $ 7,341,067 $ 7,825,278 Work in process 451,970 272,302 Finished goods 4,648,778 5,051,330 Gross inventory $ 12,441,815 $ 13,148,910 Less: Reserves (2,678,901 ) (2,891,808 ) Net Inventory $ 9,762,914 $ 10,257,102

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	August 31, 2019 November 30, 2018 Salaries, wages, and commissions $ 529,072 $ 448,737 Accrued warranty expense 140,835 96,786 Other 285,990 347,761 $ 955,897 $ 893,284

Note 8 - Assets Held for Lease

Note 8 - Assets Held for Lease (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Property Subject to or Available for Operating Lease [Table Text Block]	August 31, 2019 November 30, 2018 West Union Facility $ - $ 878,079 Modular Buildings 759,640 992,046 Net assets held for lease $ 759,640 $ 1,870,125
Schedule of Future Minimum Payments Receivable for Operating Leases [Table Text Block]	Future Minimum Leased Assets Year Ending November 30, Amount 2019 $ 163,008 2020 283,989 Total $ 446,997

Note 9 - Product Warranty (Tabl

Note 9 - Product Warranty (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	For the Three Months Ended August 31, 2019 August 31, 2018 Balance, beginning $ 89,637 $ 71,216 Settlements / adjustments (42,691 ) (73,108 ) Warranties issued 93,889 73,155 Balance, ending $ 140,835 $ 71,263 For the Nine Months Ended August 31, 2019 August 31, 2018 Balance, beginning $ 96,786 $ 68,452 Settlements / adjustments (237,629 ) (214,674 ) Warranties issued 281,678 217,485 Balance, ending $ 140,835 $ 71,263

Note 10 - Loan and Credit Agr_2

Note 10 - Loan and Credit Agreements (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Debt [Table Text Block]	August 31, 2019 November 30, 2018 Bank Midwest loan payable in monthly installments of $17,271 including interest at 5.00%, due October 1, 2037 $ 2,456,503 $ 2,517,510 First National Bank of West Union loan payable in monthly installments of $12,500 including interest at 2.75%, due June 1, 2020 - 232,967 Total term debt $ 2,456,503 $ 2,750,477 Less current portion of term debt 84,319 227,459 Term debt, excluding current portion $ 2,372,184 $ 2,523,018
Schedule of Maturities of Long-term Debt [Table Text Block]	Year Amount 2019 20,511 2020 85,401 2021 90,179 2022 94,858 2023 99,781 2024 and thereafter 2,065,773 Total Term Debt $ 2,456,503

Note 13 - Sales-type Leases (Ta

Note 13 - Sales-type Leases (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Sales-type Leases [Table Text Block]	August 31, 2019 November 30, 2018 Minimum lease receivable, current $ 174,000 $ 159,500 Unearned interest income, current (21,476 ) $ (36,445 ) Net investment in sales-type leases, current 152,524 123,055 Minimum lease receivable, long-term 37,777 $ 168,277 Unearned interest income, long-term (924 ) $ (14,490 ) Net investment in sales-type leases, long-term $ 36,853 $ 153,787
Sales-type Leases, Lease Receivable Maturity [Table Text Block]	Year Ending November 30, Amount 2019 $ 43,500 2020 162,426 2021 5,851 Total $ 211,777

Note 17 - Segment Information (

Note 17 - Segment Information (Tables)	9 Months Ended
	Aug. 31, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended August 31, 2019 Agricultural Products Modular Buildings Tools Consolidated* Revenue from external customers $ 3,194,000 $ 1,802,000 $ 508,000 $ 5,504,000 Income (loss) from operations (435,000 ) 146,000 (16,000 ) (305,000 ) Income (loss) before tax (496,000 ) 151,000 (25,000 ) (370,000 ) Total Assets 14,383,000 3,917,000 2,568,000 20,868,000 Capital expenditures 92,000 75,000 15,000 182,000 Depreciation & Amortization 126,000 66,000 32,000 224,000 Three Months Ended August 31, 2018 Agricultural Products Modular Buildings Tools Consolidated* Revenue from external customers $ 3,913,000 $ 773,000 $ 594,000 $ 5,280,000 Income (loss) from operations (450,000 ) (141,000 ) 32,000 (559,000 ) Income (loss) before tax (835,000 ) (136,000 ) 22,000 (949,000 ) Total Assets 15,999,000 3,692,000 2,484,000 22,175,000 Capital expenditures 92,000 13,000 - 105,000 Depreciation & Amortization 126,000 116,000 31,000 273,000 Nine Months Ended August 31, 2019 Agricultural Products Modular Buildings Tools Consolidated* Revenue from external customers $ 9,441,000 $ 4,382,000 $ 1,552,000 $ 15,375,000 Income (loss) from operations (1,334,000 ) (14,000 ) (49,000 ) (1,397,000 ) Income (loss) before tax (1,527,000 ) (4,000 ) (79,000 ) (1,610,000 ) Total Assets 14,383,000 3,917,000 2,568,000 20,868,000 Capital expenditures 201,000 123,000 43,000 367,000 Depreciation & Amortization 375,000 303,000 96,000 774,000 Nine Months Ended August 31, 2018 Agricultural Products Modular Buildings Tools Consolidated* Revenue from external customers $ 11,778,000 $ 2,346,000 $ 1,816,000 $ 15,940,000 Income (loss) from operations (988,000 ) (347,000 ) 9,000 (1,326,000 ) Income (loss) before tax (1,680,000 ) (330,000 ) (24,000 ) (2,034,000 ) Total Assets 15,999,000 3,692,000 2,484,000 22,175,000 Capital expenditures 163,000 99,000 4,000 266,000 Depreciation & Amortization 391,000 196,000 95,000 682,000

Note 1 - Description of the C_2

Note 1 - Description of the Company (Details Textual)	9 Months Ended
	Aug. 31, 2019
Number of Operating Segments	3

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Account Policies (Details Textual) - Assets Leased to Others [Member]	9 Months Ended
	Aug. 31, 2019
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	5 years

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual) - USD ($)	9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Contract with Customer, Liability, Revenue Recognized	$ 185,000	$ 516,217

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Disaggregated Revenue From External Customer (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Revenue	$ 5,504,000	$ 5,280,000	$ 15,375,000	$ 15,940,000
Farm Equipment [Member]
Revenue	2,392,000	3,005,000	7,274,000	9,395,000
Farm Equipment Service Parts [Member]
Revenue	666,000	768,000	1,880,000	2,036,000
Steel Cutting Tools and Inserts [Member]
Revenue	499,000	586,000	1,527,000	1,789,000
Modular Buildings [Member]
Revenue	1,607,000	568,000	3,773,000	1,981,200
Modular Buildings Lease Income [Member]
Revenue	165,000	126,000	512,000	242,000
Product and Service, Other [Member]
Revenue	175,000	227,000	409,000	496,800
Agricultural Products [Member]
Revenue	3,194,000	3,913,000	9,441,000	11,778,000
Agricultural Products [Member] | Farm Equipment [Member]
Revenue	2,392,000	3,005,000	7,274,000	9,395,000
Agricultural Products [Member] | Farm Equipment Service Parts [Member]
Revenue	666,000	768,000	1,880,000	2,036,000
Agricultural Products [Member] | Steel Cutting Tools and Inserts [Member]
Revenue
Agricultural Products [Member] | Modular Buildings [Member]
Revenue
Agricultural Products [Member] | Modular Buildings Lease Income [Member]
Revenue
Agricultural Products [Member] | Product and Service, Other [Member]
Revenue	136,000	140,000	287,000	347,000
Modular Buildings [Member]
Revenue	1,802,000	773,000	4,382,000	2,346,000
Modular Buildings [Member] | Farm Equipment [Member]
Revenue
Modular Buildings [Member] | Farm Equipment Service Parts [Member]
Revenue
Modular Buildings [Member] | Steel Cutting Tools and Inserts [Member]
Revenue
Modular Buildings [Member] | Modular Buildings [Member]
Revenue	1,607,000	568,000	3,773,000	1,981,200
Modular Buildings [Member] | Modular Buildings Lease Income [Member]
Revenue	165,000	126,000	512,000	242,000
Modular Buildings [Member] | Product and Service, Other [Member]
Revenue	30,000	79,000	97,000	122,800
Tools [Member]
Revenue	508,000	594,000	1,552,000	1,816,000
Tools [Member] | Farm Equipment [Member]
Revenue
Tools [Member] | Farm Equipment Service Parts [Member]
Revenue
Tools [Member] | Steel Cutting Tools and Inserts [Member]
Revenue	499,000	586,000	1,527,000	1,789,000
Tools [Member] | Modular Buildings [Member]
Revenue
Tools [Member] | Modular Buildings Lease Income [Member]
Revenue
Tools [Member] | Product and Service, Other [Member]
Revenue	$ 9,000	$ 8,000	$ 25,000	$ 27,000

Note 3 - Revenue Recognition _2

Note 3 - Revenue Recognition - Contract With Customers (Details) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
Receivables	$ 1,074,000	$ 159,000
Assets	81,000	99,000
Liabilities	$ 1,483,000	$ 185,000

Note 4 - Discontinued Operati_3

Note 4 - Discontinued Operations (Details Textual)	Mar. 29, 2018USD ($)
Real Estate Held for Sale, Sale Price Offer	$ 1,500,000

Note 4 - Discontinued Operati_4

Note 4 - Discontinued Operations - Income From Discontinued Operations Before Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Income (loss) before tax				$ (67,177)
Discontinued Operations, Held-for-sale [Member] | Vessels Segment [Member]
Revenue from external customers
Gross Profit
Operating Expense				51,133
Income (loss) from operations				(51,133)
Income (loss) before tax				$ (67,177)

Note 5 - Net Income (Loss) Pe_3

Note 5 - 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, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Numerator for basic and diluted net income (loss) per share:
Net (loss) from continuing operations	$ (289,216)	$ (766,716)	$ (1,251,190)	$ (1,948,093)
Net (loss) from discontinued operations				(50,853)
Net income (loss)	$ (289,216)	$ (766,716)	$ (1,251,190)	$ (1,998,946)
Denominator:
For basic net income (loss) per share - weighted average common shares outstanding (in shares)	4,309,587	4,209,445	4,285,535	4,198,250
Effect of dilutive stock options (in shares)
For diluted net income (loss) per share - weighted average common shares outstanding (in shares)	4,309,587	4,209,445	4,285,535	4,198,250
Net Income (Loss) per share - Basic:
Continuing Operations (in dollars per share)	$ (0.07)	$ (0.18)	$ (0.29)	$ (0.46)
Discontinued Operations (in dollars per share)				(0.01)
Net Income (Loss) per share (in dollars per share)	(0.07)	(0.18)	(0.29)	(0.47)
Net Income (Loss) per share - Diluted:
Continuing Operations (in dollars per share)	(0.07)	(0.18)	(0.29)	(0.46)
Discontinued Operations (in dollars per share)				(0.01)
Net Income (Loss) per share (in dollars per share)	$ (0.07)	$ (0.18)	$ (0.29)	$ (0.47)

Note 6 - Inventories - Major Cl

Note 6 - Inventories - Major Classes of Inventory (Details) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
Raw materials	$ 7,341,067	$ 7,825,278
Work in process	451,970	272,302
Finished goods	4,648,778	5,051,330
Gross inventory	12,441,815	13,148,910
Less: Reserves	(2,678,901)	(2,891,808)
Net Inventory	$ 9,762,914	$ 10,257,102

Note 7 - Accrued Expenses - Maj

Note 7 - Accrued Expenses - Major Components Of Accrued Expenses (Details) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
Salaries, wages, and commissions	$ 529,072	$ 448,737
Accrued warranty expense	140,835	96,786
Other	285,990	347,761
Total accrued liabilities, current	$ 955,897	$ 893,284

Note 8 - Assets Held for Leas_2

Note 8 - Assets Held for Lease (Details Textual) - USD ($)	Dec. 14, 2018	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
West Union Facility [Member]
Proceeds from Sale of Productive Assets, Total	$ 900,000
Sales [Member]
Operating Leases, Income Statement, Lease Revenue, Total		$ 164,508	$ 126,248	$ 512,017	$ 241,766
Other Nonoperating Income (Expense) [Member]
Operating Leases, Income Statement, Lease Revenue, Total		$ 0	$ 0	$ 2,500	$ 38,180

Note 8 - Assets Held for Leas_3

Note 8 - Assets Held for Lease - Summary of Assets Held for Lease (Details) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
Net assets held for lease	$ 759,640	$ 1,870,125
West Union Facility [Member]
Net assets held for lease		878,079
Modular Buildings [Member]
Net assets held for lease	$ 759,640	$ 992,046

Note 8 - Assets Held for Leas_4

Note 8 - Assets Held for Lease - Future Minimum Lease Receipts From Assets Held for Lease (Details)	Nov. 30, 2018USD ($)
2019	$ 163,008
2020	283,989
Total	$ 446,997

Note 9 - Product Warranty (Deta

Note 9 - Product Warranty (Details Textual)	9 Months Ended
	Aug. 31, 2019
Standard Product Warrant Term	1 year

Note 9 - Product Warranty - Cha

Note 9 - Product Warranty - Changes in Product Warranty Liability (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Balance, beginning	$ 89,637	$ 71,216	$ 96,786	$ 68,452
Settlements / adjustments	(42,691)	(73,108)	(237,629)	(214,674)
Warranties issued	93,889	73,155	281,678	217,485
Balance, ending	$ 140,835	$ 71,263	$ 140,835	$ 71,263

Note 10 - Loan and Credit Agr_3

Note 10 - Loan and Credit Agreements (Details Textual)	Aug. 31, 2019USD ($)	Feb. 13, 2019USD ($)	Mar. 29, 2018USD ($)	Sep. 28, 2017USD ($)	Aug. 31, 2019USD ($)	Aug. 31, 2018USD ($)	Nov. 30, 2018USD ($)	Feb. 28, 2019	May 01, 2010USD ($)
Long-term Debt, Total	$ 2,456,503				$ 2,456,503		$ 2,750,477
Repayments of Long-term Debt, Total					293,974	$ 164,115
Term Loan Due October 2037 [Member]
Long-term Debt, Total	$ 2,456,503				$ 2,456,503		$ 2,517,510
Debt Instrument, Interest Rate, Stated Percentage	5.00%				5.00%		5.00%
Debt Instrument, Periodic Payment, Total					$ 17,271		$ 17,271
Bank Midwest [Member]
Long-term Line of Credit, Total	$ 2,909,530				2,909,530
Line of Credit Facility, Remaining Borrowing Capacity	$ 2,090,470				$ 2,090,470
Line of Credit, Borrowing Base, Accounts Receivable	75.00%				75.00%
Line of Credit, Borrowing Base, Inventory	50.00%				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
Bank Midwest [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 5,000,000
Debt Instrument, Basis Spread on Variable Rate		1.00%
Line of Credit Facility, Interest Rate During Period	6.00%
Debt Instrument, Interest Rate, Effective Percentage		4.25%
Bank Midwest [Member] | Revolving Credit Facility [Member] | Wall Street Journal Rate [Member]
Long-term Line of Credit, Total		$ 4,000,000
Debt Instrument, Basis Spread on Variable Rate	1.00%
Line of Credit Facility, Interest Rate During Period	4.25%
Debt Instrument, Interest Rate, Effective Percentage		6.00%
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%				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%
The First National Bank of West Union [Member] | Iowa Finance Authority Term Loan [Member]
Debt Instrument, Face Amount									$ 1,300,000

Note 10 - Loan and Credit Agr_4

Note 10 - Loan and Credit Agreements - Summary of Term Debt (Details) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
Term debt	$ 2,456,503	$ 2,750,477
Less current portion of term debt	84,319	227,459
Term debt, excluding current portion	2,372,184	2,523,018
Term Loan Due October 2037 [Member]
Term debt	2,456,503	2,517,510
The First National Bank of West Union [Member]
Term debt		$ 232,967

Note 10 - Loan and Credit Agr_5

Note 10 - Loan and Credit Agreements - Summary of Term Debt (Details) (Parentheticals) - USD ($)	9 Months Ended	12 Months Ended
	Aug. 31, 2019	Nov. 30, 2018
Term Loan Due October 2037 [Member]
Debt instrument, periodic payment	$ 17,271	$ 17,271
Debt instrument, interest rate, stated percentage	5.00%	5.00%
The First National Bank of West Union [Member]
Debt instrument, periodic payment		$ 12,500
Debt instrument, interest rate, stated percentage		2.75%

Note 10 - Loan and Credit Agr_6

Note 10 - Loan and Credit Agreements - Summary of Minimum Maturities of Term Debt (Details) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
2019	$ 20,511
2020	85,401
2021	90,179
2022	94,858
2023	99,781
2024 and thereafter	2,065,773
Total Term Debt	$ 2,456,503	$ 2,750,477

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($)	9 Months Ended		12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Nov. 30, 2018
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%		35.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 298,000

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Related Party Transaction, Expenses from Transactions with Related Party	$ 6,624	$ 5,957	$ 21,273	$ 17,986
Due from Related Parties, Total	$ 1,581	$ 1,633	$ 1,581	$ 1,633

Note 13 - Sales-type Leases (De

Note 13 - Sales-type Leases (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Capital Leases, Income Statement, Sales Type Lease Revenue	$ 0	$ 0	$ 0	$ 426,542

Note 13 - Sales-type Leases - C

Note 13 - Sales-type Leases - Components Related to Sales-type Leases (Details) - USD ($)	Aug. 31, 2019	Nov. 30, 2018
Minimum lease receivable, current	$ 174,000	$ 159,500
Unearned interest income, current	(21,476)	(36,445)
Net investment in sales-type leases, current	152,524	123,055
Minimum lease receivable, long-term	37,777	168,277
Unearned interest income, long-term	(924)	(14,490)
Net investment in sales-type leases, long-term	$ 36,853	$ 153,787

Note 13 - Sales-type Leases - F

Note 13 - Sales-type Leases - Future Minimum Lease Receipts (Details)	Nov. 30, 2018USD ($)
2019	$ 43,500
2020	162,426
2021	5,851
Total	$ 211,777

Note 15 - Equity Incentive Pl_2

Note 15 - Equity Incentive Plan and Stock Based Compensation (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018	Nov. 30, 2018	Jan. 27, 2011
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 Payment Arrangement, Expense	$ 40,601	$ 46,654	$ 160,045	$ 158,090
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation			8,589	7,332
Share-based Payment Arrangement, Expense, Net of Shares Repurchased			$ 142,647	$ 136,780
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			21,000
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			2,400
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			72,437

Note 17 - Segment Information_2

Note 17 - Segment Information (Details Textual)	9 Months Ended
	Aug. 31, 2019
Number of Reportable Segments	3

Note 17 - Segment Information -

Note 17 - Segment Information - Segment Reporting Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018	Nov. 30, 2018
Revenue from external customers	$ 5,503,622	$ 5,280,269	$ 15,375,104	$ 15,940,268
Income (loss) from operations	(304,844)	(559,107)	(1,396,980)	(1,325,943)
Total Assets	20,867,996		20,867,996		$ 21,325,474
Capital expenditures			367,450	265,418
Depreciation & Amortization			774,068	681,939
Operating Segments [Member]
Revenue from external customers	5,504,000	5,280,000	15,375,000	15,940,000
Income (loss) from operations	(305,000)	(559,000)	(1,397,000)	(1,326,000)
Income (loss) before tax	(370,000)	(949,000)	(1,610,000)	(2,034,000)
Total Assets	20,868,000	22,175,000	20,868,000	22,175,000
Capital expenditures	182,000	105,000	367,000	266,000
Depreciation & Amortization	224,000	273,000	774,000	682,000
Operating Segments [Member] | Agricultural Products [Member]
Revenue from external customers	3,194,000	3,913,000	9,441,000	11,778,000
Income (loss) from operations	(435,000)	(450,000)	(1,334,000)	(988,000)
Income (loss) before tax	(496,000)	(835,000)	(1,527,000)	(1,680,000)
Total Assets	14,383,000	15,999,000	14,383,000	15,999,000
Capital expenditures	92,000	92,000	201,000	163,000
Depreciation & Amortization	126,000	126,000	375,000	391,000
Operating Segments [Member] | Modular Buildings [Member]
Revenue from external customers	1,802,000	773,000	4,382,000	2,346,000
Income (loss) from operations	146,000	(141,000)	(14,000)	(347,000)
Income (loss) before tax	151,000	(136,000)	(4,000)	(330,000)
Total Assets	3,917,000	3,692,000	3,917,000	3,692,000
Capital expenditures	75,000	13,000	123,000	99,000
Depreciation & Amortization	66,000	116,000	303,000	196,000
Operating Segments [Member] | Tools [Member]
Revenue from external customers	508,000	594,000	1,552,000	1,816,000
Income (loss) from operations	(16,000)	32,000	(49,000)	9,000
Income (loss) before tax	(25,000)	22,000	(79,000)	(24,000)
Total Assets	2,568,000	2,484,000	2,568,000	2,484,000
Capital expenditures	15,000		43,000	4,000
Depreciation & Amortization	$ 32,000	$ 31,000	$ 96,000	$ 95,000