Note 8 - Assets Held for Lease

9 Months Ended

Aug. 31, 2019

Notes to Financial Statements

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

8 ) Assets Held for Lease

Major components of assets held for lease are:

	August 31, 2019		November 30, 2018
West Union Facility	$	-	$	878,079
Modular Buildings		759,640		992,046
Net assets held for lease	$	759,640	$	1,870,125

Rents recognized from assets held for lease included in sales on the Consolidated Statements of Operations during the

three

and

nine

months ended

August 31, 2019

were

$164,508

and

$512,017,

respectively, compared to

$126,248

and

$241,766

for the same respective periods in fiscal

2018.

Rents recognized in sales were related to the leasing of modular buildings as a part of the normal course of business operations of the modular buildings segment. Rents recognized from assets held for lease included in other income (expense) on the Consolidated Statements of Operations during the

three

and

nine

months ended

August 31, 2019

were

$0

and

$2,500,

respectively, compared to

$0

and

$38,180

for the same respective periods in fiscal

2018.

Rents related to the West Union facility in the agricultural products segment were recognized in other income as such income was outside of the scope of this segment’s normal business operations. The West Union facility was sold on

December 14, 2018

for

$900,000.

Future minimum lease receipts from assets held for lease are as follows:

Future Minimum Leased Assets
Year Ending November 30,	Amount
2019	$	163,008
2020		283,989
Total	$	446,997