Byrna Technologies Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

LEASES (Tables)

9 Months Ended

Aug. 31, 2020

As of August 31, 2020, right-of-use assets of $1,220,725, current lease liabilities of $227,272, and non-current lease liabilities of $866,365 are reflected in the accompanying Condensed Consolidated Balance Sheets. The elements of lease expense were as follows:

	Three Months Ended		Nine Months Ended
	August 31, 2020		August 31, 2020
Lease Cost:
Operating lease cost	$	63,066	$	109,708
Short-term lease cost		7,368		17,192
Variable lease cost		—		8,696
Total lease cost	$	70,434	$	135,596

Other Information:
Cash paid for amounts included in the measurement of operating lease liabilities			$	231,336
Operating lease liabilities arising from obtaining right-of-use assets			$	1,292,594

Operating Leases:
Weighted-average remaining lease term (in years)				5.2 years
Weighted-average discount rate				8.3	%

Schedule of future lease payments under non-cancelable operating leases

Future lease payments under non-cancelable operating leases as of August 31, 2020 are as follows:

Fiscal Year Ended November 30,
2020 (three months)	$	74,065
2021		308,448
2022		239,221
2023		213,859
2024		216,866
Thereafter		286,290
Total lease payments		1,338,749
Less: imputed interest		(245,112	)
Total lease liabilities	$	1,093,637

Schedule of lease commitments by fiscal year

The Company had the following lease commitments by fiscal year at November 30, 2019:

Location	2020		2021		2022		2023		2024		2025 and beyond
Wilmington/Andover, MA	$	24,987	$	115,371	$	117,972	$	120,979	$	123,986	$	300,660
Fort Wayne, IN		30,357		30,585		7,646		—		—		—
South Africa*		13,098		2,217		—		—		—		—
Total	$	68,442	$	148,173	$	125,618	$	120,979	$	123,986	$	300,660
(USD based on November 30, 2019 exchange rate)*