Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

Stock-based Compensation (Tables)

9 Months Ended

Aug. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The fair value of the stock option grants were estimated on the date of the grant using a Black-Scholes valuation model and the assumptions in the following table:



Option Grant Date	December 1, 2015
Assumptions:
Risk-free interest rate	1.19	%
Dividend yield	—
Stock volatility	39.39	%
Option Term (years)	5.0

The fair value of the stock option granted to the director were estimated on the date of the grant using a Black-Scholes valuation model and the assumptions in the following table:



Option Grant Date	June 22, 2016
Assumptions:
Risk-free interest rate	1.20	%
Dividend yield	—
Stock volatility	36.43	%
Option Term (years)	5.0

The fair value of the stock options granted to the employees were estimated on the date of the grant using a Black-Scholes valuation model and the assumptions in the following table:



Option Grant Date	June 22, 2016
Assumptions:
Risk-free interest rate	1.20	%
Dividend yield	—
Stock volatility	36.43	%
Option Term (years)	10.0

Activity of share-based payment award

A summary of stock option activity for the Company is as follows:



	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Term (years)	Aggregate Intrinsic Value
Outstanding at November 30, 2014	137,000	$	3.40	5.4	—
Granted	185,000	$	3.46	—
Exercised	—	—		—	—
Canceled or Forfeited	218,000	$	3.45	—	—
Outstanding at November 30, 2015	104,000	$	3.42	7.6	—
Granted	300,000	$	3.16	—	—
Exercised	—	—		—	—
Canceled or Forfeited	—	—		—	—
Outstanding at February 29, 2016	404,000	$	3.23	9.2	—
Granted	—
Exercised	—
Canceled or Forfeited	—
Outstanding at May 31, 2016	404,000	$	3.23	9.0
Granted	205,000	$	3.35
Exercised	—
Canceled or Forfeited	49,000	$	3.48
Outstanding at August 31, 2016	560,000	$	3.26	9.4