Note 9 - Assets Available for Sale and Assets Held for Lease

6 Months Ended

May 31, 2017

Notes to Financial Statements

Disclosure of Assets Available for Sale, Not Part of Discontinued Operations [Text Block]

9 ) Assets Available for Sale and Assets Held for Lease

Major components of assets available for sale (excluding assets of discontinued operations as discussed in Note

3

“Discontinued Operations”) are:

	May 31, 2017		November 30, 2016
Ames, Iowa powder coat paint system	$	70,000	$	70,000
	$	70,000	$	70,000

Due to reduced demand for our reels produced by the Universal Harvester by Art’s Way subsidiary, we have been able to absorb the production of reels into our Armstrong, Iowa facility. We continue to hold our powder coat system previously used in our Ames, Iowa location as available for sale. During fiscal

2016,

we recognized an impairment of

$44,858

related to this asset based on recent offers and comparable sales information.

We have discontinued all of our production in our West Union facility, and are now leasing the facility to a

third

party. Therefore, we have reclassified that facility to net assets held for lease of

$1,131,101

as of

May 31, 2017.