Note 8 - Assets Held for Lease

9 Months Ended

Aug. 31, 2022

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, 2022		November 30, 2021
Modular Buildings	$	532,967	$	521,555
Total assets held for lease	$	532,967	$	521,555

There were no rents recognized from assets held for lease included in sales on the Condensed Consolidated Statements of Operations during the three and nine months ended August 31, 2022 and August 31, 2021.

The Company has two of the seven rental buildings under lease agreements as of the date of this report. The Company has approximately $30,000 in rents held in customer deposits for rental buildings not in service as of August 31, 2022.

The future minimum lease receipts from assets held for lease for periods after August 31, 2022 are as follows:

Twelve Months Ending August 31	Amount
2023	$	98,116
2024		12,525
Total	$	110,641

On June 14, 2022, the Company received a purchase order in the amount of $383,904 for the purchase of two rental buildings in the Company’s fleet. The Company expects the sale of these units to occur in Q4 of fiscal 2022.