Note 8 - Assets Held for Lease

3 Months Ended

Feb. 29, 2020

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:

	February 29, 2020		November 30, 2019
Modular Buildings	$	667,925	$	713,782
Net assets held for lease	$	667,925	$	713,782

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

three

months ended

February

29,

2020

were

$155,508

compared to

$179,044

for the

three

months ended

February 28, 2019.

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

months ended

February

29,

2020

were

$0

compared to

$2,500

for the same period of fiscal

2019.

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
2020	$	58,089
Total	$	58,089