Note 11 - Related Party Transactions

12 Months Ended

Nov. 30, 2018

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

( 11 ) Related Party Transactions

During the

2018

and

2017

fiscal years, 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 the Company’s term debt in accordance with the USDA guarantee on the Company’s term loan. Mr. McConnell is paid a monthly fee for his guarantee. In the

2018

fiscal year, the Company recognized

$25,773

 of expense with related parties, compared to

$8,281

in

2017.

As of

November 30, 2018,

accrued expenses contained a balance of

$1,568

owed to a related party compared to

$1,621

on

November 30, 2017.