XML 29 R16.htm IDEA: XBRL DOCUMENT v3.24.0.1
Note 9 - Property and Equipment
12 Months Ended
Nov. 30, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

9.

PROPERTY AND EQUIPMENT

 

The following table summarizes cost and accumulated depreciation as of November 30, 2023 and 2022, respectively (in thousands).

           

  

Estimated Useful

  

November 30,

 
  

Lives in Years

  

2023

  

2022

 

Computer equipment and software

  3-5  $817  $328 

Furniture and fixtures

  5   273   392 

Leasehold improvements

  3-7   989   910 

Machinery and equipment

  5-7   3,425   2,531 
       5,504   4,161 

Less: accumulated depreciation and amortization

      1,701   852 

Total

     $3,803  $3,309 

 

The Company recognized approximately $1.0 million and $0.6 million in depreciation expense during the years ended November 30, 2023 and 2022, respectively. Depreciation expense is presented in the operating expenses and within cost of goods sold in the accompanying Consolidated Statements of Operations and Comprehensive Loss.

 

At November 30, 2023 and 2022, the Company deposited $1.2 million and $2.3 million, respectively, with vendors primarily for supply of molds and equipment where the vendors have not completed supply of these assets.  The Company placed $1.2 million and $0.5 million of molds and equipment deposits and software deposits, respectively, from  November 30, 2022 into service during fiscal year November 30, 2023.  The Company placed $0.9 million of molds and equipment deposits from  November 30, 2021 into service during fiscal year  November 30, 2022.  The deposits are presented in the Consolidated Balance Sheets as deposits for equipment.