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Subsequent Events
12 Months Ended
Nov. 30, 2020
Subsequent Events.  
Subsequent Events

12. Subsequent Events

In accordance with FASB ASC 855, “Subsequent Events,” INDUS has evaluated all events or transactions occurring after November 30, 2020, the balance sheet date, and noted that there have been no such events or transactions which would require recognition or disclosure in the consolidated financial statements as of and for the year ended November 30, 2020, other than the disclosures herein.

On February 10, 2021, INDUS entered into a Purchase and Sale Agreement to sell approximately 91 acres of undeveloped land in Southwick, Massachusetts (the “Southwick Land Sale”) for $5,250, before transaction costs. Completion of this transaction is subject to significant contingencies, including the buyer obtaining all necessary final permits from governmental authorities for its development plans for the site it would acquire. Given these contingencies, it is possible that the Southwick Land Sale will not be completed under its current terms, or at all.

See Note 11 for disclosure regarding entry into the Stratton Agreement.

See Notes 1 and 8 for disclosure of the subsequent event related to the E&P Distribution.