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Related Party Transactions (Tables)
6 Months Ended
May 31, 2020
Related Party Transactions [Abstract]  
Schedule of Beneficial Ownership of Company's Common Stock by Related Party

As noted above, MiTAC Holdings and its affiliates in the aggregate beneficially owned approximately 18% of the Company’s outstanding common stock as of May 31, 2020. These shares are owned by the following entities:  

 

 

 

 

 

As of May 31, 2020

 

MiTAC Holdings(1)

 

 

5,300

 

Synnex Technology International Corp.(2)

 

 

3,860

 

Total

 

 

9,160

 

_________________________

(1)

 

Shares are held via Silver Star Developments Ltd., a wholly-owned subsidiary of MiTAC Holdings. Excludes 190 shares held directly by Mr. Miau, 217 shares indirectly held by Mr. Miau through a charitable remainder trust, and 190 shares held by his spouse.

(2)

 

Synnex Technology International Corp. (“Synnex Technology International”) is a separate entity from the Company and is a publicly-traded corporation in Taiwan. Shares are held via Peer Development Ltd., a wholly-owned subsidiary of Synnex Technology International. MiTAC Holdings owns a noncontrolling interest of 8.7% in MiTAC Incorporated, a privately-held Taiwanese company, which in turn holds a noncontrolling interest of 14.9% in Synnex Technology International. Neither MiTAC Holdings nor Mr. Miau is affiliated with any person(s), entity, or entities that hold a majority interest in MiTAC Incorporated.

 

Schedule of Related Party Transactions

The following table presents the Company's transactions with MiTAC Holdings and its affiliates for the periods indicated:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

May 31, 2020

 

 

May 31, 2019

 

 

May 31, 2020

 

 

May 31, 2019

 

Purchases of inventories and services

 

$

55,328

 

 

$

41,959

 

 

$

98,573

 

 

$

78,104

 

Sale of products to MiTAC Holdings and affiliates

 

 

285

 

 

 

245

 

 

 

597

 

 

 

405

 

Payments made for rent and overhead costs for use of facilities of MiTAC Holdings and affiliates

 

 

34

 

 

 

 

 

 

64

 

 

 

 

The following table presents the Company’s receivable from and payable to MiTAC Holdings and its affiliates for the periods presented:

 

 

 

May 31, 2020

 

 

November 30, 2019

 

Receivable from related parties (included in Accounts receivable, net)

 

$

9,470

 

 

$

4,405

 

Payable to related parties (included in Accounts payable)

 

 

28,472

 

 

 

23,179