Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Aug. 31, 2021 | Oct. 05, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000007623 | |
Entity Registrant Name | ARTS WAY MANUFACTURING CO INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --11-30 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Aug. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-05131 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 42-0920725 | |
Entity Address, Address Line One | 5556 Highway 9 | |
Entity Address, City or Town | Armstrong | |
Entity Address, State or Province | IA | |
Entity Address, Postal Zip Code | 50514 | |
City Area Code | 712 | |
Local Phone Number | 864-3131 | |
Title of 12(b) Security | Common stock $.01 par value | |
Trading Symbol | ARTW | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 4,533,972 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Current assets: | ||
Cash | $ 108,006 | $ 2,684 |
Accounts receivable-customers, net of allowance for doubtful accounts of $40,582 and $51,175 in 2021 and 2020, respectively | 2,955,548 | 2,390,604 |
Inventories, net | 9,288,863 | 7,762,400 |
Cost and profit in excess of billings | 3,147 | 56,026 |
Net investment in sales-type leases, current | 0 | 28,352 |
Other current assets | 275,239 | 61,284 |
Total current assets | 12,630,803 | 10,301,350 |
Property, plant, and equipment, net | 5,256,459 | 5,218,662 |
Assets held for lease, net | 521,555 | 521,555 |
Deferred income taxes | 2,726,529 | 2,667,686 |
Other assets | 119,843 | 93,760 |
Total assets | 21,255,189 | 18,803,013 |
Current liabilities: | ||
Accounts payable | 2,183,859 | 1,955,404 |
Customer deposits | 704,332 | 198,225 |
Billings in excess of cost and profit | 164,652 | 276,226 |
Income taxes payable | 5,000 | 1,100 |
Accrued expenses | 1,225,098 | 1,279,312 |
Line of credit | 4,290,030 | 2,359,530 |
Current portion of long-term debt | 96,222 | 94,979 |
Total current liabilities | 8,669,193 | 6,164,776 |
Long-term liabilities | ||
Long-term portion of finance lease liabilities | 5,777 | 0 |
Long-term portion of operating lease liabilities | 38,209 | 18,342 |
Long-term debt, excluding current portion | 2,657,183 | 2,713,150 |
Total liabilities | 11,370,362 | 8,896,268 |
Commitments and Contingencies (Notes 7, 9, 10 and 13) | ||
Stockholders’ equity: | ||
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2021 and 2020; issued and outstanding 0 shares in 2021 and 2020. | 0 | 0 |
Common stock – $0.01 par value. Authorized 9,500,000 shares, issued 4,578,504 and 4,470,004 at August 31, 2021 and November 30, 2020, respectively | 45,785 | 44,700 |
Additional paid-in capital | 3,698,403 | 3,496,243 |
Retained earnings | 6,249,164 | 6,443,856 |
Treasury stock, at cost (44,532 in 2021 and 35,097 in 2020 shares) | (108,525) | (78,054) |
Total stockholders’ equity | 9,884,827 | 9,906,745 |
Total liabilities and stockholders’ equity | $ 21,255,189 | $ 18,803,013 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Allowance for doubtful accounts | $ 40,582 | $ 51,175 |
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) | 4,578,504 | 4,470,004 |
Treasury stock (in shares) | (44,532) | (35,097) |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Sales | $ 6,591,829 | $ 6,464,854 | $ 17,702,628 | $ 16,936,510 |
Cost of goods sold | 4,853,408 | 5,539,974 | 13,199,471 | 14,039,752 |
Gross profit | 1,738,421 | 924,880 | 4,503,157 | 2,896,758 |
Expenses: | ||||
Engineering | 143,629 | 128,813 | 387,147 | 361,258 |
Selling | 532,232 | 370,236 | 1,549,164 | 1,227,144 |
General and administrative | 902,356 | 939,125 | 2,626,383 | 3,215,963 |
Total expenses | 1,578,217 | 1,438,174 | 4,562,694 | 4,804,365 |
Income (Loss) from operations | 160,204 | (513,294) | (59,537) | (1,907,607) |
Other income (expense): | ||||
Interest expense | (90,440) | (73,422) | (223,911) | (233,942) |
Other | 2,041 | 58,847 | 36,682 | 72,744 |
Total other income (expense) | (88,399) | (14,575) | (187,229) | (161,198) |
Income (Loss) before income taxes | 71,805 | (527,869) | (246,766) | (2,068,805) |
Income tax expense (benefit) | 15,349 | (104,258) | (52,074) | (406,282) |
Net Income (Loss) | $ 56,456 | $ (423,611) | $ (194,692) | $ (1,662,523) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Nov. 30, 2019 | 4,321,087 | 18,842 | |||
Balance at Nov. 30, 2019 | $ 43,211 | $ 3,250,087 | $ 8,547,342 | $ (47,058) | $ 11,793,582 |
Stock based compensation (in shares) | 143,917 | 14,471 | |||
Stock based compensation | $ 1,439 | 194,223 | 0 | $ (26,536) | 169,126 |
Net (loss) | $ 0 | 0 | (1,662,523) | $ 0 | (1,662,523) |
Balance (in shares) at Aug. 31, 2020 | 4,465,004 | 33,313 | |||
Balance at Aug. 31, 2020 | $ 44,650 | 3,444,310 | 6,884,819 | $ (73,594) | 10,300,185 |
Balance (in shares) at Nov. 30, 2020 | 4,470,004 | 35,097 | |||
Balance at Nov. 30, 2020 | $ 44,700 | 3,496,243 | 6,443,856 | $ (78,054) | 9,906,745 |
Stock based compensation (in shares) | 108,500 | 9,435 | |||
Stock based compensation | $ 1,085 | 202,160 | 0 | $ (30,471) | 172,774 |
Net (loss) | $ 0 | 0 | (194,692) | $ 0 | (194,692) |
Balance (in shares) at Aug. 31, 2021 | 4,578,504 | 44,532 | |||
Balance at Aug. 31, 2021 | $ 45,785 | $ 3,698,403 | $ 6,249,164 | $ (108,525) | $ 9,884,827 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
Cash flows from operations: | ||
Net (loss) | $ (194,692) | $ (1,662,523) |
Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities: | ||
Stock based compensation | 203,245 | 195,662 |
Increase (decrease) in obsolete inventory reserves | (485,073) | 180,758 |
Gain on disposal of property, plant, and equipment | (7,998) | (47,169) |
Depreciation and amortization expense | 453,697 | 648,084 |
Accrued interest on deferred debt payments | 12,720 | 3,330 |
Increase (decrease) in allowance for doubtful accounts | (10,593) | 20,009 |
Deferred income taxes | (58,843) | (436,692) |
Changes in assets and liabilities: | ||
Accounts receivable | (554,351) | (63,526) |
Inventories | (1,041,390) | (424,849) |
Net investment in sales-type leases | 28,352 | 105,933 |
Other assets | (213,955) | (96,868) |
Accounts payable | 228,455 | 223,680 |
Contracts in progress, net | (58,695) | 920,172 |
Customer deposits | 506,107 | 16,972 |
Income taxes payable | 3,900 | 0 |
Accrued expenses | (58,634) | 58,088 |
Net cash (used in) operating activities | (1,247,748) | (358,939) |
Cash flows from investing activities: | ||
Purchases of property, plant, and equipment | (487,515) | (614,443) |
Net proceeds from sale of assets | 8,000 | 182,881 |
Net cash used in investing activities | (479,515) | (431,562) |
Cash flows from financing activities: | ||
Net change in line of credit | (1,930,500) | 811,000 |
Proceeds from term debt | 0 | 1,692,900 |
Repayment of term debt | (67,444) | (63,808) |
Repurchases of common stock | (30,471) | (26,536) |
Net cash provided by financing activities | 1,832,585 | 791,556 |
Net increase in cash | 105,322 | 1,055 |
Cash at beginning of period | 2,684 | 3,145 |
Cash at end of period | 108,006 | 4,200 |
Supplemental disclosures of cash flow information: | ||
Interest | 190,764 | 205,409 |
Income taxes | $ 2,869 | $ 30,394 |
Note 1 - Description of the Com
Note 1 - Description of the Company | 9 Months Ended |
Aug. 31, 2021 | |
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 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2 Summary of Significant Accounting 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, 2020. three nine August 31, 2021 not November 30, 2021. Impact of COVID- 19 The COVID- 19 first nine 2021. three 2020. 2021. 19 may 2 10 Reclassification of Prior Year Presentation Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no nine August 31, 2020, not Critical Accounting Policies and 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, 2021. 10 November 30, 2020. Recently Issued Accounting Pronouncements Recently Adopted Accounting Guidance Leases In February 2016, 2016 02, 842 twelve 2020 not first 2020 Accounting Pronouncements Not Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13, 2016 13 2016 13 December 15, 2022 December 15, 2018, 2016 13 2024. not |
Note 3 - Disaggregation of Reve
Note 3 - Disaggregation of Revenue | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3 Disaggregation of Revenue 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, 2021 Agricultural Modular Buildings Tools Total Farm equipment $ 3,831,000 $ - $ - $ 3,831,000 Farm equipment service parts 749,000 - - 749,000 Steel cutting tools and inserts - - 613,000 613,000 Modular buildings - 1,256,000 - 1,256,000 Other 80,000 57,000 6,000 143,000 $ 4,660,000 $ 1,313,000 $ 619,000 $ 6,592,000 Three Months Ended August 31, 2020 Agricultural Modular Buildings Tools Total Farm equipment $ 2,908,000 $ - $ - $ 2,908,000 Farm equipment service parts 645,000 - - 645,000 Steel cutting tools and inserts - - 470,000 470,000 Modular buildings - 2,266,000 - 2,266,000 Other 118,000 53,000 5,000 176,000 $ 3,671,000 $ 2,319,000 $ 475,000 $ 6,465,000 Nine Months Ended August 31, 2021 Agricultural Modular Buildings Tools Total Farm equipment $ 9,723,000 $ - $ - $ 9,723,000 Farm equipment service parts 2,027,000 - - 2,027,000 Steel cutting tools and inserts - - 1,872,000 1,872,000 Modular buildings - 3,573,000 - 3,573,000 Modular building lease income - - - - Other 267,000 225,000 16,000 508,000 $ 12,017,000 $ 3,798,000 $ 1,888,000 $ 17,703,000 Nine Months Ended August 31, 2020 Agricultural Modular Buildings Tools Total Farm equipment $ 7,556,000 $ - $ - $ 7,556,000 Farm equipment service parts 1,844,000 - - 1,844,000 Steel cutting tools and inserts - - 1,648,000 1,648,000 Modular buildings - 5,155,000 - 5,155,000 Modular building lease income - 318,000 - 318,000 Other 295,000 102,000 19,000 416,000 $ 9,695,000 $ 5,575,000 $ 1,667,000 $ 16,937,000 |
Note 4 - Contract Receivables,
Note 4 - Contract Receivables, Contract Assets and Contract Liabilities | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Contract Receivable, Contract Assets, and Contract Liabilities [Text Block] | 4 Contract Receivables, Contract Assets and Contract Liabilities 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, 2021 November 30, 2020 Receivables $ 2,956,000 $ 2,391,000 Assets 3,000 56,000 Liabilities 752,000 276,000 The amount of revenue recognized in the first nine 2021 November 30, 2020 2020. nine August 31, 2021 nine August 31, 2021 nine August 31, 2021 The Company utilizes the practical expedient exception for these contracts and will report only on performance obligations greater than one August 31, 2021, no one |
Note 5 - Net Income (Loss) Per
Note 5 - Net Income (Loss) Per Share of Common Stock | 9 Months Ended |
Aug. 31, 2021 | |
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, 2021, August 31, 2020: For the Three Months Ended August 31, 2021 August 31, 2020 Numerator for basic and diluted net income (loss) per share: Net income (loss) $ 56,456 $ (423,611 ) Denominator: For basic net income (loss) per share - weighted average common shares outstanding 4,529,026 4,426,850 Effect of dilutive stock options - - For diluted net income (loss) per share - weighted average common shares outstanding 4,529,026 4,426,850 Net Income (Loss) per share - Basic: Net Income (Loss) per share $ 0.01 $ (0.10 ) Net Income (Loss) per share - Diluted: Net Income (Loss) per share $ 0.01 $ (0.10 ) For the Nine Months Ended August 31, 2021 August 31, 2020 Numerator for basic and diluted net income (loss) per share: Net income (loss) $ (194,692 ) $ (1,662,523 ) Denominator: For basic net income (loss) per share - weighted average common shares outstanding 4,508,986 4,381,686 Effect of dilutive stock options - - For diluted net income (loss) per share - weighted average common shares outstanding 4,508,986 4,381,686 Net Income (Loss) per share - Basic: Net Income (Loss) per share $ (0.04 ) $ (0.38 ) Net Income (Loss) per share - Diluted: Net Income (Loss) per share $ (0.04 ) $ (0.38 ) |
Note 6 - Inventory
Note 6 - Inventory | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 6 Inventory Major classes of inventory are: August 31, 2021 November 30, 2020 Raw materials $ 8,801,878 $ 7,086,367 Work in process 457,739 304,009 Finished goods 3,239,777 3,777,136 Total Gross Inventory $ 12,499,394 $ 11,167,512 Less: Reserves (3,210,531 ) (3,405,112 ) Net Inventory $ 9,288,863 $ 7,762,400 |
Note 7 - Accrued Expenses
Note 7 - Accrued Expenses | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 7 Accrued Expenses Major components of accrued expenses are: August 31, 2021 November 30, 2020 Salaries, wages, and commissions $ 724,084 $ 726,625 Accrued warranty expense 245,680 291,454 Other 255,334 261,233 $ 1,225,098 $ 1,279,312 |
Note 8 - Assets Held for Lease
Note 8 - Assets Held for Lease | 9 Months Ended |
Aug. 31, 2021 | |
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, 2021 November 30, 2020 Modular Buildings $ 521,555 $ 521,555 Total assets held for lease $ 521,555 $ 521,555 There were no three nine August 31, 2021, three nine August 31, 2020, There were no August 31, 2021. |
Note 9 - Product Warranty
Note 9 - Product Warranty | 9 Months Ended |
Aug. 31, 2021 | |
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, 2021 August 31, 2020 For the Three Months Ended August 31, 2021 August 31, 2020 Balance, beginning $ 267,500 $ 239,233 Settlements / adjustments (75,204 ) (37,146 ) Warranties issued 53,384 66,146 Balance, ending $ 245,680 $ 268,233 For the Nine Months Ended August 31, 2021 August 31, 2020 Balance, beginning $ 291,453 $ 203,185 Settlements / adjustments (177,470 ) (65,722 ) Warranties issued 131,697 130,770 Balance, ending $ 245,680 $ 268,233 |
Note 10 - Loan and Credit Agree
Note 10 - Loan and Credit Agreements | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10 Loan and Credit Agreements The Company maintains two one three Bank Midwest Revolving Lines of Credit and Term Loan The Company maintains a credit facility with Bank Midwest consisting of a $5,000,000 revolving line of credit (the “2017 October 1, 2037 ( August 31, 2021, 2017 may 2017 2017 August 31, 2021, 2017 not 2017 2017 February 11, 2021. 2017 March 30, 2022 The Term Loan accrues interest at a rate of 5.00% for the first sixty may five 20% May 31, 2021, On February 13, 2019, “2019 2019 2019 2019 February 2, 2021. 2019 no one February 13, 2022. August 31, 2021, 2019 Q4 2021. The Term Loan is governed by the terms of a Promissory Note, dated September 28, 2017, 2017 2019 February 11, 2021 February 2, 2021, In connection with the 2017 September 28, 2017, first 2017 September 28, 2017. 2019 To further secure the 2017 2019 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 on November 30. 1 August 31, 2021. November 30, 2021. $100,000 nine August 31, 2021. November 30, 2020. November 30, 2021. On January 12, 2021, $4,000,000 February 28, 2021, March 22, 2021, May 31, 2021. May 31, 2021, August 31, 2021, SBA Economic Injury Disaster Loans On June 18, 2020, June 24, 2020, 19 June 18, 2020, third June 24, 2020, $150,000. twelve June 18, 2020, June 24, 2020, On March 11, 2021, 2021 first 2020 24 $150,000 $500,000 A summary of the Company’s term debt is as follows: August 31, 2021 November 30, 2020 Bank Midwest loan payable in monthly installments of $ 17,271 5.00% $ 2,283,148 $ 2,350,593 U.S. Small Business Administration loan payable in monthly installments of $ 731 3.75% 156,765 152,543 U.S. Small Business Administration loan payable in monthly installments of $ 731 3.75% 156,727 152,450 U.S. Small Business Administration loan payable in monthly installments of $ 731 3.75% 156,765 152,543 Total term debt $ 2,753,405 $ 2,808,129 Less current portion of term debt 96,222 94,979 Term debt, excluding current portion $ 2,657,183 $ 2,713,150 A summary of the minimum maturities of term debt follows for the years ending November 30, 2021: Year Amount 2021 $ 22,735 2022 99,463 2023 108,284 2024 113,444 2025 119,552 2026 and thereafter 2,289,927 $ 2,753,405 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 9 Months Ended |
Aug. 31, 2021 | |
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. |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 12 Related Party Transactions During the three nine August 31, 2021, August 31, 2020, not no three nine August 31, 2021, three nine August 31, 2020. August 31, 2021, August 31, 2020. |
Note 13 - Leases
Note 13 - Leases | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Leases [Text Block] | 13 Leases The components related to sales-type leases on November 30, 2020, November 30, 2020 Minimum lease receivable, current $ 29,002 Unearned interest income, current (650 ) Net investment in sales-type leases, current $ 28,352 There was no sales activity related to sales-type leases for the three nine August 31, 2021, August 31, 2020. There were no August 31, 2021. The components of operating leases on the Condensed Consolidated Balance Sheets on August 31, 2021 August 31, 2021 November 30, 2020 Operating lease right-of-use assets (other assets) $ 50,908 $ 27,879 Current portion of operating lease liabilities (accrued expenses) $ 12,699 $ 9,537 Long-term portion of operating lease liabilities 38,209 18,342 Total operating lease liabilities $ 50,908 $ 27,879 The Company recorded $5,547 and $17,536 of operating lease costs in the three nine August 31, 2021, 2020, Future maturities of operating lease liabilities are as follows: Year Ending November 30, 2021 3,729 2022 14,914 2023 12,344 2024 11,162 2025 9,532 2026 and thereafter 4,766 Total lease payments 56,447 Less imputed interest (5,539 ) Total operating lease liabilities 50,908 The components of finance leases on the Condensed Consolidated Balance Sheets on August 31, 2021 August 31, 2021 Finance lease right-of-use assets (net of amortization in other assets) $ 7,035 Current portion of finance lease liabilities (accrued expenses) $ 1,311 Long-term portion of finance lease liabilities 5,777 Total finance lease liabilities $ 7,088 The Company recorded $357 of amortization and $87 of interest expense in the three August 31, 2021 nine August 31, 2021 2021. Future maturities of finance lease liabilities are as follows: Year Ending November 30, 2021 $ 405 2022 1,619 2023 1,619 2024 1,619 2025 1,619 2026 and thereafter 1,080 Total lease payments 7,961 Less imputed interest (873 ) Total finance lease liabilities $ 7,088 |
Note 14 - Equity Incentive Plan
Note 14 - Equity Incentive Plan and Stock Based Compensation | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 14 Equity Incentive Plan and Stock Based Compensation On February 25, 2020, 2020 “2020 2020 April 30, 2020. 2020 2011 “2011 No 2011 2020 February 25, 2020, The 2020 Stock Issuance For the Three Months Ended August 31, 2021 August 31, 2020 Shares issued to directors (immediate vesting) 5,000 5,000 Shares issued to directors, employees, and consultants (three-year vesting) - - Total shares issued 5,000 5,000 For the Nine Months Ended August 31, 2021 August 31, 2020 Shares issued to directors (immediate vesting) 20,000 20,000 Shares issued to directors, employees, and consultants (three-year vesting) 88,500 123,917 Total shares issued 108,500 143,917 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. Stock Based Compensation Expense For the Three Months Ended August 31, 2021 August 31, 2020 Stock-based compensation expense 61,446 42,910 Treasury share repurchase expense - - Stock-based compensation expense net of treasury repurchases 61,446 42,910 For the Nine Months Ended August 31, 2021 August 31, 2020 Stock-based compensation expense 203,245 195,662 Treasury share repurchase expense (30,471 ) (26,536 ) Stock-based compensation expense net of treasury repurchases 172,774 169,126 No nine August 31, 2021, 2020. |
Note 15 - Disclosures About the
Note 15 - Disclosures About the Fair Value of Financial Instruments | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 15 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. On August 31, 2021, November 30, 2020, not not |
Note 16 - Segment Information
Note 16 - Segment Information | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 16 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. Three Months Ended August 31, 2021 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 4,660,000 $ 1,313,000 $ 619,000 $ 6,592,000 Income (loss) from operations $ 95,000 $ 89,000 $ (24,000 ) $ 160,000 Income (loss) before tax $ 26,000 $ 82,000 $ (36,000 ) $ 72,000 Total Assets $ 14,981,000 $ 3,701,000 $ 2,573,000 $ 21,255,000 Capital expenditures $ 153,000 $ 11,000 $ 5,000 $ 169,000 Depreciation & Amortization $ 85,000 $ 27,000 $ 33,000 $ 145,000 Three Months Ended August 31, 2020 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 3,671,000 $ 2,319,000 $ 475,000 $ 6,465,000 Income (loss) from operations $ (210,000 ) $ (188,000 ) $ (115,000 ) $ (513,000 ) Income (loss) before tax $ (249,000 ) $ (152,000 ) $ (127,000 ) $ (528,000 ) Total Assets $ 13,387,000 $ 3,272,000 $ 2,661,000 $ 19,320,000 Capital expenditures $ 149,000 $ 13,000 $ 40,000 $ 202,000 Depreciation & Amortization $ 123,000 $ 33,000 $ 33,000 $ 189,000 Nine Months Ended August 31, 2021 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 12,017,000 $ 3,798,000 $ 1,888,000 $ 17,703,000 Income (loss) from operations $ 85,000 $ (97,000 ) $ (48,000 ) $ (60,000 ) Income (loss) before tax $ (48,000 ) $ (118,000 ) $ (81,000 ) $ (247,000 ) Total Assets $ 14,981,000 $ 3,701,000 $ 2,573,000 $ 21,255,000 Capital expenditures $ 463,000 $ 20,000 $ 5,000 $ 488,000 Depreciation & Amortization $ 271,000 $ 83,000 $ 100,000 $ 454,000 Nine Months Ended August 31, 2020 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 9,695,000 $ 5,575,000 $ 1,667,000 $ 16,937,000 Income (loss) from operations $ (1,367,000 ) $ (306,000 ) $ (235,000 ) $ (1,908,000 ) Income (loss) before tax $ (1,531,000 ) $ (272,000 ) $ (266,000 ) $ (2,069,000 ) Total Assets $ 13,387,000 $ 3,272,000 $ 2,661,000 $ 19,320,000 Capital expenditures $ 447,000 $ 124,000 $ 43,000 $ 614,000 Depreciation & Amortization $ 377,000 $ 172,000 $ 99,000 $ 648,000 *The consolidated total in the tables is a sum of segment figures and may not |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 9 Months Ended |
Aug. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 17 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, 2021 | |
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, 2020. three nine August 31, 2021 not November 30, 2021. |
Effect of COVID-19 Pandemic [Policy Text Block] | Impact of COVID- 19 The COVID- 19 first nine 2021. three 2020. 2021. 19 may 2 10 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification of Prior Year Presentation Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no nine August 31, 2020, not |
Change In Accounting Estimate [Policy Text Block] | Critical Accounting Policies and 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, 2021. 10 November 30, 2020. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements Recently Adopted Accounting Guidance Leases In February 2016, 2016 02, 842 twelve 2020 not first 2020 Accounting Pronouncements Not Measurement of Credit Losses on Financial Instruments In June 2016, 2016 13, 2016 13 2016 13 December 15, 2022 December 15, 2018, 2016 13 2024. not |
Note 3 - Disaggregation of Re_2
Note 3 - Disaggregation of Revenue (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended August 31, 2021 Agricultural Modular Buildings Tools Total Farm equipment $ 3,831,000 $ - $ - $ 3,831,000 Farm equipment service parts 749,000 - - 749,000 Steel cutting tools and inserts - - 613,000 613,000 Modular buildings - 1,256,000 - 1,256,000 Other 80,000 57,000 6,000 143,000 $ 4,660,000 $ 1,313,000 $ 619,000 $ 6,592,000 Three Months Ended August 31, 2020 Agricultural Modular Buildings Tools Total Farm equipment $ 2,908,000 $ - $ - $ 2,908,000 Farm equipment service parts 645,000 - - 645,000 Steel cutting tools and inserts - - 470,000 470,000 Modular buildings - 2,266,000 - 2,266,000 Other 118,000 53,000 5,000 176,000 $ 3,671,000 $ 2,319,000 $ 475,000 $ 6,465,000 Nine Months Ended August 31, 2021 Agricultural Modular Buildings Tools Total Farm equipment $ 9,723,000 $ - $ - $ 9,723,000 Farm equipment service parts 2,027,000 - - 2,027,000 Steel cutting tools and inserts - - 1,872,000 1,872,000 Modular buildings - 3,573,000 - 3,573,000 Modular building lease income - - - - Other 267,000 225,000 16,000 508,000 $ 12,017,000 $ 3,798,000 $ 1,888,000 $ 17,703,000 Nine Months Ended August 31, 2020 Agricultural Modular Buildings Tools Total Farm equipment $ 7,556,000 $ - $ - $ 7,556,000 Farm equipment service parts 1,844,000 - - 1,844,000 Steel cutting tools and inserts - - 1,648,000 1,648,000 Modular buildings - 5,155,000 - 5,155,000 Modular building lease income - 318,000 - 318,000 Other 295,000 102,000 19,000 416,000 $ 9,695,000 $ 5,575,000 $ 1,667,000 $ 16,937,000 |
Note 4 - Contract Receivables_2
Note 4 - Contract Receivables, Contract Assets and Contract Liabilities (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | August 31, 2021 November 30, 2020 Receivables $ 2,956,000 $ 2,391,000 Assets 3,000 56,000 Liabilities 752,000 276,000 |
Note 5 - Net Income (Loss) Pe_2
Note 5 - Net Income (Loss) Per Share of Common Stock (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended August 31, 2021 August 31, 2020 Numerator for basic and diluted net income (loss) per share: Net income (loss) $ 56,456 $ (423,611 ) Denominator: For basic net income (loss) per share - weighted average common shares outstanding 4,529,026 4,426,850 Effect of dilutive stock options - - For diluted net income (loss) per share - weighted average common shares outstanding 4,529,026 4,426,850 Net Income (Loss) per share - Basic: Net Income (Loss) per share $ 0.01 $ (0.10 ) Net Income (Loss) per share - Diluted: Net Income (Loss) per share $ 0.01 $ (0.10 ) For the Nine Months Ended August 31, 2021 August 31, 2020 Numerator for basic and diluted net income (loss) per share: Net income (loss) $ (194,692 ) $ (1,662,523 ) Denominator: For basic net income (loss) per share - weighted average common shares outstanding 4,508,986 4,381,686 Effect of dilutive stock options - - For diluted net income (loss) per share - weighted average common shares outstanding 4,508,986 4,381,686 Net Income (Loss) per share - Basic: Net Income (Loss) per share $ (0.04 ) $ (0.38 ) Net Income (Loss) per share - Diluted: Net Income (Loss) per share $ (0.04 ) $ (0.38 ) |
Note 6 - Inventory (Tables)
Note 6 - Inventory (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | August 31, 2021 November 30, 2020 Raw materials $ 8,801,878 $ 7,086,367 Work in process 457,739 304,009 Finished goods 3,239,777 3,777,136 Total Gross Inventory $ 12,499,394 $ 11,167,512 Less: Reserves (3,210,531 ) (3,405,112 ) Net Inventory $ 9,288,863 $ 7,762,400 |
Note 7 - Accrued Expenses (Tabl
Note 7 - Accrued Expenses (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | August 31, 2021 November 30, 2020 Salaries, wages, and commissions $ 724,084 $ 726,625 Accrued warranty expense 245,680 291,454 Other 255,334 261,233 $ 1,225,098 $ 1,279,312 |
Note 8 - Assets Held for Lease
Note 8 - Assets Held for Lease (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Table Text Block] | August 31, 2021 November 30, 2020 Modular Buildings $ 521,555 $ 521,555 Total assets held for lease $ 521,555 $ 521,555 |
Note 9 - Product Warranty (Tabl
Note 9 - Product Warranty (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | For the Three Months Ended August 31, 2021 August 31, 2020 Balance, beginning $ 267,500 $ 239,233 Settlements / adjustments (75,204 ) (37,146 ) Warranties issued 53,384 66,146 Balance, ending $ 245,680 $ 268,233 For the Nine Months Ended August 31, 2021 August 31, 2020 Balance, beginning $ 291,453 $ 203,185 Settlements / adjustments (177,470 ) (65,722 ) Warranties issued 131,697 130,770 Balance, ending $ 245,680 $ 268,233 |
Note 10 - Loan and Credit Agr_2
Note 10 - Loan and Credit Agreements (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | August 31, 2021 November 30, 2020 Bank Midwest loan payable in monthly installments of $ 17,271 5.00% $ 2,283,148 $ 2,350,593 U.S. Small Business Administration loan payable in monthly installments of $ 731 3.75% 156,765 152,543 U.S. Small Business Administration loan payable in monthly installments of $ 731 3.75% 156,727 152,450 U.S. Small Business Administration loan payable in monthly installments of $ 731 3.75% 156,765 152,543 Total term debt $ 2,753,405 $ 2,808,129 Less current portion of term debt 96,222 94,979 Term debt, excluding current portion $ 2,657,183 $ 2,713,150 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Year Amount 2021 $ 22,735 2022 99,463 2023 108,284 2024 113,444 2025 119,552 2026 and thereafter 2,289,927 $ 2,753,405 |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Sales-type Leases [Table Text Block] | November 30, 2020 Minimum lease receivable, current $ 29,002 Unearned interest income, current (650 ) Net investment in sales-type leases, current $ 28,352 |
Lessee, Operating Leases, Assets and Liabilities [Table Text Block] | August 31, 2021 November 30, 2020 Operating lease right-of-use assets (other assets) $ 50,908 $ 27,879 Current portion of operating lease liabilities (accrued expenses) $ 12,699 $ 9,537 Long-term portion of operating lease liabilities 38,209 18,342 Total operating lease liabilities $ 50,908 $ 27,879 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending November 30, 2021 3,729 2022 14,914 2023 12,344 2024 11,162 2025 9,532 2026 and thereafter 4,766 Total lease payments 56,447 Less imputed interest (5,539 ) Total operating lease liabilities 50,908 |
Lessee, Finance Leases, Assets and Liabilities [Table Text Block] | August 31, 2021 Finance lease right-of-use assets (net of amortization in other assets) $ 7,035 Current portion of finance lease liabilities (accrued expenses) $ 1,311 Long-term portion of finance lease liabilities 5,777 Total finance lease liabilities $ 7,088 |
Finance Lease, Liability, Fiscal Year Maturity [Table Text Block] | Year Ending November 30, 2021 $ 405 2022 1,619 2023 1,619 2024 1,619 2025 1,619 2026 and thereafter 1,080 Total lease payments 7,961 Less imputed interest (873 ) Total finance lease liabilities $ 7,088 |
Note 14 - Equity Incentive Pl_2
Note 14 - Equity Incentive Plan and Stock Based Compensation (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Activity [Table Text Block] | Stock Issuance For the Three Months Ended August 31, 2021 August 31, 2020 Shares issued to directors (immediate vesting) 5,000 5,000 Shares issued to directors, employees, and consultants (three-year vesting) - - Total shares issued 5,000 5,000 For the Nine Months Ended August 31, 2021 August 31, 2020 Shares issued to directors (immediate vesting) 20,000 20,000 Shares issued to directors, employees, and consultants (three-year vesting) 88,500 123,917 Total shares issued 108,500 143,917 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Stock Based Compensation Expense For the Three Months Ended August 31, 2021 August 31, 2020 Stock-based compensation expense 61,446 42,910 Treasury share repurchase expense - - Stock-based compensation expense net of treasury repurchases 61,446 42,910 For the Nine Months Ended August 31, 2021 August 31, 2020 Stock-based compensation expense 203,245 195,662 Treasury share repurchase expense (30,471 ) (26,536 ) Stock-based compensation expense net of treasury repurchases 172,774 169,126 |
Note 16 - Segment Information (
Note 16 - Segment Information (Tables) | 9 Months Ended |
Aug. 31, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended August 31, 2021 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 4,660,000 $ 1,313,000 $ 619,000 $ 6,592,000 Income (loss) from operations $ 95,000 $ 89,000 $ (24,000 ) $ 160,000 Income (loss) before tax $ 26,000 $ 82,000 $ (36,000 ) $ 72,000 Total Assets $ 14,981,000 $ 3,701,000 $ 2,573,000 $ 21,255,000 Capital expenditures $ 153,000 $ 11,000 $ 5,000 $ 169,000 Depreciation & Amortization $ 85,000 $ 27,000 $ 33,000 $ 145,000 Three Months Ended August 31, 2020 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 3,671,000 $ 2,319,000 $ 475,000 $ 6,465,000 Income (loss) from operations $ (210,000 ) $ (188,000 ) $ (115,000 ) $ (513,000 ) Income (loss) before tax $ (249,000 ) $ (152,000 ) $ (127,000 ) $ (528,000 ) Total Assets $ 13,387,000 $ 3,272,000 $ 2,661,000 $ 19,320,000 Capital expenditures $ 149,000 $ 13,000 $ 40,000 $ 202,000 Depreciation & Amortization $ 123,000 $ 33,000 $ 33,000 $ 189,000 Nine Months Ended August 31, 2021 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 12,017,000 $ 3,798,000 $ 1,888,000 $ 17,703,000 Income (loss) from operations $ 85,000 $ (97,000 ) $ (48,000 ) $ (60,000 ) Income (loss) before tax $ (48,000 ) $ (118,000 ) $ (81,000 ) $ (247,000 ) Total Assets $ 14,981,000 $ 3,701,000 $ 2,573,000 $ 21,255,000 Capital expenditures $ 463,000 $ 20,000 $ 5,000 $ 488,000 Depreciation & Amortization $ 271,000 $ 83,000 $ 100,000 $ 454,000 Nine Months Ended August 31, 2020 Agricultural Products Modular Buildings Tools Consolidated Revenue from external customers $ 9,695,000 $ 5,575,000 $ 1,667,000 $ 16,937,000 Income (loss) from operations $ (1,367,000 ) $ (306,000 ) $ (235,000 ) $ (1,908,000 ) Income (loss) before tax $ (1,531,000 ) $ (272,000 ) $ (266,000 ) $ (2,069,000 ) Total Assets $ 13,387,000 $ 3,272,000 $ 2,661,000 $ 19,320,000 Capital expenditures $ 447,000 $ 124,000 $ 43,000 $ 614,000 Depreciation & Amortization $ 377,000 $ 172,000 $ 99,000 $ 648,000 |
Note 1 - Description of the C_2
Note 1 - Description of the Company (Details Textual) | 9 Months Ended |
Aug. 31, 2021 | |
Number of Operating Segments | 3 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 9 Months Ended | |||
Aug. 31, 2021USD ($) | Aug. 31, 2020USD ($) | Nov. 30, 2020USD ($) | Feb. 29, 2020USD ($) | |
Number of Operating Segments | 3 | |||
Inventory Write-down | $ (485,073) | $ 180,758 | ||
Operating Lease, Right-of-Use Asset | 50,908 | $ 27,879 | ||
Operating Lease, Liability, Total | $ 50,908 | $ 27,879 | ||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 34,316 | |||
Operating Lease, Liability, Total | $ 34,316 |
Note 3 - Disaggregation of Re_3
Note 3 - Disaggregation of Revenue - Disaggregated Revenue From External Customer (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Revenue | $ 6,592,000 | $ 6,465,000 | $ 17,703,000 | $ 16,937,000 |
Farm Equipment [Member] | ||||
Revenue | 3,831,000 | 2,908,000 | 9,723,000 | 7,556,000 |
Farm Equipment Service Parts [Member] | ||||
Revenue | 749,000 | 645,000 | 2,027,000 | 1,844,000 |
Steel Cutting Tools and Inserts [Member] | ||||
Revenue | 613,000 | 470,000 | 1,872,000 | 1,648,000 |
Modular Buildings [Member] | ||||
Revenue | 1,256,000 | 2,266,000 | 3,573,000 | 5,155,000 |
Product and Service, Other [Member] | ||||
Revenue | 143,000 | 176,000 | 508,000 | 416,000 |
Modular Buildings Lease Income [Member] | ||||
Revenue | 0 | 318,000 | ||
Agricultural Products [Member] | ||||
Revenue | 4,660,000 | 3,671,000 | 12,017,000 | 9,695,000 |
Agricultural Products [Member] | Farm Equipment [Member] | ||||
Revenue | 3,831,000 | 2,908,000 | 9,723,000 | 7,556,000 |
Agricultural Products [Member] | Farm Equipment Service Parts [Member] | ||||
Revenue | 749,000 | 645,000 | 2,027,000 | 1,844,000 |
Agricultural Products [Member] | Steel Cutting Tools and Inserts [Member] | ||||
Revenue | 0 | 0 | 0 | 0 |
Agricultural Products [Member] | Modular Buildings [Member] | ||||
Revenue | 0 | 0 | 0 | 0 |
Agricultural Products [Member] | Product and Service, Other [Member] | ||||
Revenue | 80,000 | 118,000 | 267,000 | 295,000 |
Agricultural Products [Member] | Modular Buildings Lease Income [Member] | ||||
Revenue | 0 | 0 | ||
Modular Buildings [Member] | ||||
Revenue | 1,313,000 | 2,319,000 | 3,798,000 | 5,575,000 |
Modular Buildings [Member] | Farm Equipment [Member] | ||||
Revenue | 0 | 0 | 0 | 0 |
Modular Buildings [Member] | Farm Equipment Service Parts [Member] | ||||
Revenue | 0 | 0 | 0 | 0 |
Modular Buildings [Member] | Steel Cutting Tools and Inserts [Member] | ||||
Revenue | 0 | 0 | 0 | 0 |
Modular Buildings [Member] | Modular Buildings [Member] | ||||
Revenue | 1,256,000 | 2,266,000 | 3,573,000 | 5,155,000 |
Modular Buildings [Member] | Product and Service, Other [Member] | ||||
Revenue | 57,000 | 53,000 | 225,000 | 102,000 |
Modular Buildings [Member] | Modular Buildings Lease Income [Member] | ||||
Revenue | 0 | 318,000 | ||
Tools [Member] | ||||
Revenue | 619,000 | 475,000 | 1,888,000 | 1,667,000 |
Tools [Member] | Farm Equipment [Member] | ||||
Revenue | 0 | 0 | 0 | 0 |
Tools [Member] | Farm Equipment Service Parts [Member] | ||||
Revenue | 0 | 0 | 0 | 0 |
Tools [Member] | Steel Cutting Tools and Inserts [Member] | ||||
Revenue | 613,000 | 470,000 | 1,872,000 | 1,648,000 |
Tools [Member] | Modular Buildings [Member] | ||||
Revenue | 0 | 0 | 0 | 0 |
Tools [Member] | Product and Service, Other [Member] | ||||
Revenue | $ 6,000 | $ 5,000 | 16,000 | 19,000 |
Tools [Member] | Modular Buildings Lease Income [Member] | ||||
Revenue | $ 0 | $ 0 |
Note 4 - Contract Receivables_3
Note 4 - Contract Receivables, Contract Assets and Contract Liabilities (Details Textual) - USD ($) | 9 Months Ended | |
Aug. 31, 2021 | Aug. 31, 2020 | |
Contract with Customer, Liability, Revenue Recognized During Period | $ 276,000 | $ 89,000 |
Note 4 - Contract Receivables_4
Note 4 - Contract Receivables, Contract Assets and Contract Liabilities - Contract With Customers (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Receivables | $ 2,956,000 | $ 2,391,000 |
Assets | 3,000 | 56,000 |
Liabilities | $ 752,000 | $ 276,000 |
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, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Numerator for basic and diluted net income (loss) per share: | ||||
Net income (loss) | $ 56,456 | $ (423,611) | $ (194,692) | $ (1,662,523) |
Denominator: | ||||
For basic net income (loss) per share - weighted average common shares outstanding (in shares) | 4,529,026 | 4,426,850 | 4,508,986 | 4,381,686 |
Effect of dilutive stock options (in shares) | 0 | 0 | 0 | 0 |
For diluted net income (loss) per share - weighted average common shares outstanding (in shares) | 4,529,026 | 4,426,850 | 4,508,986 | 4,381,686 |
Net Income (Loss) per share - Basic: | ||||
Net Income (Loss) per share (in dollars per share) | $ 0.01 | $ (0.10) | $ (0.04) | $ (0.38) |
Net Income (Loss) per share - Diluted: | ||||
Net Income (Loss) per share (in dollars per share) | $ 0.01 | $ (0.10) | $ (0.04) | $ (0.38) |
Note 6 - Inventory - Major Clas
Note 6 - Inventory - Major Classes of Inventory (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Raw materials | $ 8,801,878 | $ 7,086,367 |
Work in process | 457,739 | 304,009 |
Finished goods | 3,239,777 | 3,777,136 |
Total Gross Inventory | 12,499,394 | 11,167,512 |
Less: Reserves | (3,210,531) | (3,405,112) |
Net Inventory | $ 9,288,863 | $ 7,762,400 |
Note 7 - Accrued Expenses - Maj
Note 7 - Accrued Expenses - Major Components of Accrued Expenses (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Salaries, wages, and commissions | $ 724,084 | $ 726,625 |
Accrued warranty expense | 245,680 | 291,454 |
Other | 255,334 | 261,233 |
Total accrued liabilities, current | $ 1,225,098 | $ 1,279,312 |
Note 8 - Assets Held for Leas_2
Note 8 - Assets Held for Lease (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Operating Lease, Lease Income, Total | $ 0 | $ 318,227 | ||
Lessor, Operating Lease, Payments to be Received, Total | $ 0 | $ 0 | ||
Sales [Member] | ||||
Operating Lease, Lease Income, Total | $ 0 | $ 0 |
Note 8 - Assets Held for Leas_3
Note 8 - Assets Held for Lease - Summary of Assets Held for Lease (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Assets held for lease | $ 521,555 | $ 521,555 |
Modular Buildings [Member] | ||
Assets held for lease | $ 521,555 | $ 521,555 |
Note 9 - Product Warranty (Deta
Note 9 - Product Warranty (Details Textual) | 9 Months Ended |
Aug. 31, 2021 | |
Standard Product Warrant Term (Year) | 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, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Balance, beginning | $ 267,500 | $ 239,233 | $ 291,453 | $ 203,185 |
Settlements / adjustments | (75,204) | (37,146) | (177,470) | (65,722) |
Warranties issued | 53,384 | 66,146 | 131,697 | 130,770 |
Balance, ending | $ 245,680 | $ 268,233 | $ 245,680 | $ 268,233 |
Note 10 - Loan and Credit Agr_3
Note 10 - Loan and Credit Agreements (Details Textual) | Mar. 11, 2021USD ($) | Jan. 12, 2021USD ($) | Jan. 11, 2021USD ($) | Jun. 24, 2020USD ($) | Jun. 18, 2020USD ($) | Feb. 13, 2019USD ($) | Sep. 28, 2017USD ($) | Aug. 31, 2021USD ($) | May 31, 2021USD ($) | Aug. 31, 2021USD ($) | Nov. 30, 2020USD ($) | Feb. 28, 2021USD ($) |
Long-term Debt, Total | $ 2,753,405 | $ 2,753,405 | $ 2,808,129 | |||||||||
Term Loan Due October 2037 [Member] | ||||||||||||
Long-term Debt, Total | $ 2,283,148 | $ 2,283,148 | $ 2,350,593 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.00% | 5.00% | |||||||||
Debt Instrument, Periodic Payment, Total | $ 17,271 | $ 17,271 | ||||||||||
EIDL Assistance Program [Member] | ||||||||||||
Proceeds from Issuance of Debt | $ 1,050,000 | |||||||||||
EIDL Assistance Program, Loan One [Member] | ||||||||||||
Proceeds from Issuance of Debt | $ 150,000 | |||||||||||
EIDL Assistance Program, Loan Three [Member] | ||||||||||||
Proceeds from Issuance of Debt | $ 150,000 | |||||||||||
Economic Injury Distaster Loan Assistance Program [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |||||||||||
Debt Instrument, Term (Year) | 30 years | |||||||||||
Debt Instrument, Additional Funding Increase Requested Per Entity | $ 350,000 | |||||||||||
Debt Instrument, Additional Funding Increase Requested | $ 1,050,000 | |||||||||||
EIDL Assistance Program, Loan Two [Member] | ||||||||||||
Debt Instrument, Periodic Payment, Total | $ 731 | |||||||||||
Proceeds from Issuance of Debt | $ 150,000 | |||||||||||
Bank Midwest [Member] | ||||||||||||
Long-term Line of Credit, Total | 4,290,030 | 4,290,030 | ||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 709,970 | $ 709,970 | ||||||||||
Line of Credit, Borrowing Base, Accounts Receivable | 75.00% | 75.00% | ||||||||||
Line of Credit, Borrowing Base, Inventory | 50.00% | 50.00% | ||||||||||
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 | 0.10 | |||||||||||
Debt Instrument, Covenant, Annual Purchases or Sales Price of Equipment Before Requiring Bank Approval | $ 100,000 | |||||||||||
Debt Instrument, Covenant, Minimum Working Capital Ratio | 1.75 | |||||||||||
Debt Instrument, Covenant, Minimum Working Capital | $ 5,100,000 | |||||||||||
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | ||||||||||||
Long-term Debt, Total | $ 2,600,000 | $ 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] | Revolving Credit Facility [Member] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | $ 5,000,000 | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||||||||
Line of Credit Facility, Interest Rate During Period | 4.75% | 4.75% | ||||||||||
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 | 4.75% | |||||||||||
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% | |||||||||||
Bank Midwest, New Amended Covenant [Member] | ||||||||||||
Debt Instrument, Covenant, Minimum Working Capital Ratio | 1.75 | |||||||||||
Debt Instrument, Covenant, Minimum Working Capital | $ 4,000,000 | |||||||||||
Debt Instrument, Working Capital Covenant, Out of Compliance, Amount | $ 126,496 | $ 240,885 |
Note 10 - Loan and Credit Agr_4
Note 10 - Loan and Credit Agreements - Summary of Term Debt (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Long-term Debt, Total | $ 2,753,405 | $ 2,808,129 |
Less current portion of term debt | 96,222 | 94,979 |
Term debt, excluding current portion | 2,657,183 | 2,713,150 |
Term Loan Due October 2037 [Member] | ||
Long-term Debt, Total | 2,283,148 | 2,350,593 |
SBA Loan One [Member] | ||
Long-term Debt, Total | 156,765 | 152,543 |
SBA Loan Two [Member] | ||
Long-term Debt, Total | 156,727 | 152,450 |
SBA Loan Three [Member] | ||
Long-term Debt, Total | $ 156,765 | $ 152,543 |
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, 2021 | Nov. 30, 2020 | |
Term Loan Due October 2037 [Member] | ||
Debt Instrument, Periodic Payment, Total | $ 17,271 | $ 17,271 |
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.00% |
SBA Loan One [Member] | ||
Debt Instrument, Periodic Payment, Total | $ 731 | $ 731 |
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% |
SBA Loan Two [Member] | ||
Debt Instrument, Periodic Payment, Total | $ 731 | $ 731 |
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% |
SBA Loan Three [Member] | ||
Debt Instrument, Periodic Payment, Total | $ 731 | $ 731 |
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | 3.75% |
Note 10 - Loan and Credit Agr_6
Note 10 - Loan and Credit Agreements - Summary of Minimum Maturities of Term Debt (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
2021 | $ 22,735 | |
2022 | 99,463 | |
2023 | 108,284 | |
2024 | 113,444 | |
2025 | 119,552 | |
2026 and thereafter | 2,289,927 | |
Long-term Debt, Total | $ 2,753,405 | $ 2,808,129 |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Revenue from Related Parties | $ 0 | $ 0 | $ 0 | $ 0 |
Due from Related Parties, Total | 0 | 0 | 0 | 0 |
Related Party Transaction, Expenses from Transactions with Related Party | 6,539 | 4,865 | 19,200 | 14,767 |
Due to Related Parties, Total | $ 1,469 | $ 1,540 | $ 1,469 | $ 1,540 |
J. Ward McConnell Jr. [Member] | ||||
Related Party, Ownership Percentage | 20.00% | 20.00% |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Sales-type Lease, Lease Income, Total | $ 0 | $ 0 | $ 0 | $ 0 |
Lease, Cost, Total | $ 5,547 | 4,208 | $ 17,536 | 17,840 |
Operating Lease, Weighted Average Remaining Lease Term (Month) | 51 months | 51 months | ||
Operating Lease, Weighted Average Discount Rate, Percent | 5.50% | 5.50% | ||
Finance Lease, Right-of-Use Asset, Amortization | $ 357 | $ 0 | $ 477 | 0 |
Finance Lease, Interest Expense | $ 87 | $ 116 | $ 0 | |
Lessee, Finance Lease, Term of Contract (Month) | 59 months | 59 months | ||
Lessee, Finance Lease, Discount Rate | 4.75% | 4.75% |
Note 13 - Leases - Components R
Note 13 - Leases - Components Related to Sales-type Leases (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Minimum lease receivable, current | $ 29,002 | |
Unearned interest income, current | (650) | |
Net investment in sales-type leases, current | $ 0 | $ 28,352 |
Note 13 - Leases - Components o
Note 13 - Leases - Components of Operating Leases (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Operating lease right-of-use assets (other assets) | $ 50,908 | $ 27,879 |
Current portion of operating lease liabilities (accrued expenses) | 12,699 | 9,537 |
Long-term portion of operating lease liabilities | 38,209 | 18,342 |
Total operating lease liabilities | $ 50,908 | $ 27,879 |
Note 13 - Leases - Maturities o
Note 13 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
2021 | $ 3,729 | |
2022 | 14,914 | |
2023 | 12,344 | |
2024 | 11,162 | |
2025 | 9,532 | |
2026 and thereafter | 4,766 | |
Total lease payments | 56,447 | |
Less imputed interest | (5,539) | |
Total operating lease liabilities | $ 50,908 | $ 27,879 |
Note 13 - Leases - Components_2
Note 13 - Leases - Components of Finance Leases (Details) - USD ($) | Aug. 31, 2021 | Nov. 30, 2020 |
Finance lease right-of-use assets (net of amortization in other assets) | $ 7,035 | |
Current portion of finance lease liabilities (accrued expenses) | 1,311 | |
Long-term portion of finance lease liabilities | 5,777 | $ 0 |
Total finance lease liabilities | $ 7,088 |
Note 13 - Leases - Maturities_2
Note 13 - Leases - Maturities of Finance Lease Liabilities (Details) | Aug. 31, 2021USD ($) |
2021 | $ 405 |
2022 | 1,619 |
2023 | 1,619 |
2024 | 1,619 |
2025 | 1,619 |
2026 and thereafter | 1,080 |
Total lease payments | 7,961 |
Less imputed interest | (873) |
Total finance lease liabilities | $ 7,088 |
Note 14 - Equity Incentive Pl_3
Note 14 - Equity Incentive Plan and Stock Based Compensation (Details Textual) - shares | Feb. 25, 2020 | Aug. 31, 2021 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 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 (in shares) | 1,000 | |
The 2020 Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 500,000 |
Note 14 - Equity Incentive Pl_4
Note 14 - Equity Incentive Plan and Stock Based Compensation - Summary of Shares Issued (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Shares issued (in shares) | 5,000 | 5,000 | 108,500 | 143,917 |
Director [Member] | Vesting Immediately [Member] | ||||
Shares issued (in shares) | 5,000 | 5,000 | 20,000 | 20,000 |
Employees, Directors, and Consultants [Member] | Awards with Three-year Vesting [Member] | ||||
Shares issued (in shares) | 0 | 0 | 88,500 | 123,917 |
Note 14 - Equity Incentive Pl_5
Note 14 - Equity Incentive Plan and Stock Based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | |
Stock-based compensation expense | $ 61,446 | $ 42,910 | $ 203,245 | $ 195,662 |
Treasury share repurchase expense | 0 | 0 | (30,471) | (26,536) |
Stock-based compensation expense net of treasury repurchases | $ 61,446 | $ 42,910 | $ 172,774 | $ 169,126 |
Note 16 - Segment Information_2
Note 16 - Segment Information (Details Textual) | 9 Months Ended |
Aug. 31, 2021 | |
Number of Reportable Segments | 3 |
Note 16 - Segment Information -
Note 16 - Segment Information - Segment Reporting Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Aug. 31, 2021 | Aug. 31, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | Nov. 30, 2020 | ||
Revenue from external customers | $ 6,591,829 | $ 6,464,854 | $ 17,702,628 | $ 16,936,510 | ||
Income (loss) from operations | 160,204 | (513,294) | (59,537) | (1,907,607) | ||
Total Assets | 21,255,189 | 21,255,189 | $ 18,803,013 | |||
Capital expenditures | 487,515 | 614,443 | ||||
Depreciation & Amortization | 453,697 | 648,084 | ||||
Operating Segments [Member] | ||||||
Revenue from external customers | [1] | 6,592,000 | 6,465,000 | 17,703,000 | 16,937,000 | |
Income (loss) from operations | [1] | 160,000 | (513,000) | (60,000) | (1,908,000) | |
Income (loss) before tax | [1] | 72,000 | (528,000) | (247,000) | (2,069,000) | |
Total Assets | [1] | 21,255,000 | 19,320,000 | 21,255,000 | 19,320,000 | |
Capital expenditures | [1] | 169,000 | 202,000 | 488,000 | 614,000 | |
Depreciation & Amortization | [1] | 145,000 | 189,000 | 454,000 | 648,000 | |
Operating Segments [Member] | Agricultural Products [Member] | ||||||
Revenue from external customers | 4,660,000 | 3,671,000 | 12,017,000 | 9,695,000 | ||
Income (loss) from operations | 95,000 | (210,000) | 85,000 | (1,367,000) | ||
Income (loss) before tax | 26,000 | (249,000) | (48,000) | (1,531,000) | ||
Total Assets | 14,981,000 | 13,387,000 | 14,981,000 | 13,387,000 | ||
Capital expenditures | 153,000 | 149,000 | 463,000 | 447,000 | ||
Depreciation & Amortization | 85,000 | 123,000 | 271,000 | 377,000 | ||
Operating Segments [Member] | Modular Buildings [Member] | ||||||
Revenue from external customers | 1,313,000 | 2,319,000 | 3,798,000 | 5,575,000 | ||
Income (loss) from operations | 89,000 | (188,000) | (97,000) | (306,000) | ||
Income (loss) before tax | 82,000 | (152,000) | (118,000) | (272,000) | ||
Total Assets | 3,701,000 | 3,272,000 | 3,701,000 | 3,272,000 | ||
Capital expenditures | 11,000 | 13,000 | 20,000 | 124,000 | ||
Depreciation & Amortization | 27,000 | 33,000 | 83,000 | 172,000 | ||
Operating Segments [Member] | Tools [Member] | ||||||
Revenue from external customers | 619,000 | 475,000 | 1,888,000 | 1,667,000 | ||
Income (loss) from operations | (24,000) | (115,000) | (48,000) | (235,000) | ||
Income (loss) before tax | (36,000) | (127,000) | (81,000) | (266,000) | ||
Total Assets | 2,573,000 | 2,661,000 | 2,573,000 | 2,661,000 | ||
Capital expenditures | 5,000 | 40,000 | 5,000 | 43,000 | ||
Depreciation & Amortization | $ 33,000 | $ 33,000 | $ 100,000 | $ 99,000 | ||
[1] | The consolidated total in the tables is a sum of segment figures and may not tie to actual figures in the condensed consolidated financial statements due to rounding. |