Note 11 - Related Party Transactions

12 Months Ended

Nov. 30, 2017

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

( 11 ) Related Party Transactions

During fiscal years

2017

and

2016,

the Company did

not

recognize any revenues with a related party, and

no

amounts in accounts receivable balances were due from a related party. From time to time, the Company purchases

various supplies from related parties, which are companies owned by J. Ward McConnell, Jr., our Vice Chairman of the Board of Directors. Also, J. Ward McConnell, Jr. as a shareholder owning more than

20%

of the Company’s outstanding stock was required to guarantee a portion of our term debt in accordance with the USDA guarantee on our term loan. Mr. McConnell is paid a monthly fee for his guarantee. In fiscal

2017,

the Company recognized

$8,281

of expense with related parties, compared to

$2,937

in

2016.

As of

November 30, 2017,

accrued expenses contained a balance of

$1,621

owed to a related party compared to

$0

on

November 30, 2016

.