Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.3.1.900
Property and Equipment
 12 Months Ended
Nov. 30, 2015
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT
The components of property and equipment consisted of the following:
 
 
November 30,
2015
 
November 30,
2014
Furniture and equipment
 
459,786

 
672,477

Tools, dies and masters
 
462,542

 
449,862

Transportation equipment
 
—

 
16,538

Capitalized lease obligations
 
15,286

 
41,326

Leasehold improvements
 
35,017

 
1,054,365

 
 
$
972,631

 
$
2,234,568

Less: Accumulated depreciation
 
767,597

 
1,125,968

Property and Equipment—Net
 
$
205,034

 
$
1,108,600


Depreciation expense for the years ended November 30, 2015, 2014 and 2013 amounted to $150,862, $303,303 and $303,750, respectively. Due to the Companies move in April 2015 from its facility in East Rutherford, New Jersey to new offices in Ridgefield Park, New Jersey, the Company wrote off $714,138 of leasehold improvements pertaining to the East Rutherford facility in the second quarter of fiscal 2015. In addition, the Company wrote off $146,831 of furnishings and equipment that were not needed in the new facility.