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

9 Months Ended

Aug. 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:

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

Due to reduced demand for

reels produced by the Universal Harvester by Art’s Way subsidiary, the Company has been able to absorb the production of reels into its Armstrong, Iowa facility. The Company continues to hold the powder coat system previously used in its Ames, Iowa location as available for sale. During fiscal

2016,

the Company recognized an impairment of

$44,858

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

Major components of assets

held for lease are:

	August 31, 2017		November 30, 2016
West Union Facility	$	1,124,715	$	-
Modular Buildings		108,225		-
	$	1,232,940	$	-

The Company currently leases more than half of the West Union facility to

third

parties for storage purposes.

The Company

’s Modular Buildings segment enters into leasing arrangements with customers from time-to-time. A small leased facility was put into service in the

third

quarter of fiscal

2017.