Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.6.0.2
Property and Equipment
 12 Months Ended
Nov. 30, 2016
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
The components of property and equipment consisted of the following:
 
 
November 30,
2016
 
November 30,
2015
Furniture and equipment
 
559,971

 
459,786

Tools, dies and masters
 
469,652

 
462,542

Capitalized lease obligations
 
15,286

 
15,286

Leasehold improvements
 
35,017

 
35,017

 
 
$
1,079,926

 
$
972,631

Less: Accumulated depreciation
 
844,723

 
767,597

Property and Equipment—Net
 
$
235,203

 
$
205,034


Depreciation expense for the years ended November 30, 2016, 2015 and 2014 amounted to $81,457, $150,862 and $303,303, respectively. Due to the Company's 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.