XML 76 R56.htm IDEA: XBRL DOCUMENT v3.20.4
Note 9 - Loan and Credit Agreements (Details Textual)
12 Months Ended
Jan. 12, 2021
USD ($)
Jun. 24, 2020
USD ($)
Jun. 18, 2020
USD ($)
Apr. 20, 2020
USD ($)
Feb. 13, 2019
USD ($)
Sep. 28, 2017
USD ($)
Nov. 30, 2020
USD ($)
Nov. 30, 2019
USD ($)
Long-term Debt, Total             $ 2,808,129 $ 2,435,993
Proceeds from Paycheck Protection Program Under CARES Act       $ 1,242,900     1,692,900
Term Loan Due October 2037 [Member]                
Long-term Debt, Total             $ 2,350,593 $ 2,435,993
Debt Instrument, Interest Rate, Stated Percentage             5.00% 5.00%
Debt Instrument, Periodic Payment, Total             $ 17,271 $ 17,271
EIDL Assistance Program, Loan One [Member]                
Proceeds from Issuance of Debt     $ 150,000          
EIDL Assistance Program, Loan Two [Member]                
Debt Instrument, Periodic Payment, Total   $ 731            
Proceeds from Issuance of Debt     $ 150,000          
EIDL Assistance Program, Loan Three [Member]                
Proceeds from Issuance of Debt   $ 150,000            
Debt Instrument, Date of First Required Payment   Jun. 24, 2021            
Economic Injury Distaster Loan Assistance Program [Member]                
Debt Instrument, Interest Rate, Stated Percentage   3.75%            
Debt Instrument, Term (Year)   30 years            
EIDL Assistance Program, Loans One and Two [Member]                
Debt Instrument, Date of First Required Payment     Jun. 18, 2021          
Bank Midwest [Member]                
Long-term Line of Credit, Total             2,359,530  
Line of Credit Facility, Remaining Borrowing Capacity             $ 2,640,470  
Line of Credit, Borrowing Base, Accounts Receivable             75.00%  
Line of Credit, Borrowing Base, Inventory             50.00%  
Debt Instrument, Covenant, Minimum Working Capital Ratio           1.75    
Debt Instrument, Covenant, Minimum Working Capital           $ 5,100,000    
Debt Instrument, Covenant, Maximum Debt to Worth Ratio           1    
Debt Instrument, Covenant, Minimum Tangible Balance Sheet Equity, Percentage           40.00%    
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio           1.25    
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio, Tolerance           0.1    
Debt Instrument, Covenant, Annual Purchases or Sales Price of Equipment Before Requiring Bank Approval           $ 100,000    
Bank Midwest [Member] | Term Loan Due October 2037 [Member]                
Long-term Debt, Total           2,600,000    
Debt Instrument, Periodic Payment, Total             $ 17,271  
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | United States Department of Agriculture [Member]                
Upfront Guarantee Fee             $ 62,400  
Guarantee Fee, Annual Fee, Percentage             0.50%  
Guarantee Requirement, Personally Guarantee, Shareholders Ownership Percentage             20.00%  
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | J. Ward McConnell Jr. [Member]                
Personally Guaranteed, Percentage of Loan             38.00%  
Personally Guaranteed, Fee, Percentage of Guaranteed Amount             2.00%  
Bank Midwest [Member] | Revolving Credit Facility [Member]                
Line of Credit Facility, Maximum Borrowing Capacity           $ 5,000,000    
Debt Instrument, Basis Spread on Variable Rate         1.00%      
Line of Credit Facility, Interest Rate During Period             4.25%  
Debt Instrument, Interest Rate, Effective Percentage         4.25%      
Bank Midwest [Member] | Revolving Credit Facility [Member] | Wall Street Journal Rate [Member]                
Long-term Line of Credit, Total         $ 4,000,000      
Debt Instrument, Basis Spread on Variable Rate             1.00%  
Line of Credit Facility, Interest Rate During Period             4.25%  
Bank Midwest [Member] | Term Loan Due October 2037 [Member]                
Debt Instrument, Interest Rate, Stated Percentage             5.00%  
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | Minimum [Member]                
Debt Instrument, Interest Rate, Effective Percentage             4.15%  
Bank Midwest [Member] | Term Loan Due October 2037 [Member] | Wall Street Journal Rate [Member]                
Debt Instrument, Basis Spread on Variable Rate             0.75%  
Bank Midwest, New Amended Covenant [Member] | Subsequent Event [Member]                
Debt Instrument, Covenant, Minimum Working Capital Ratio 1.75              
Debt Instrument, Covenant, Minimum Working Capital $ 4,000,000