| 9. |
PROPERTY AND EQUIPMENT |
| |
|
| |
Property and equipment are recorded at cost and reflected net of accumulated depreciation and amortization. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, primarily three to seven years for computer hardware and software, furniture and fixtures, and machinery and equipment. Leasehold improvements are amortized over the lesser of the useful lives of three to seven years or lease terms. The following table summarizes cost and accumulated depreciation as of February 28, 2021 and November 30, 2020, respectively (in thousands). |
| |
|
February 28,
2021 |
|
|
November 30,
2020 |
|
| Computer equipment and software |
|
$ |
226 |
|
|
$ |
204 |
|
| Furniture and fixtures |
|
|
105 |
|
|
|
105 |
|
| Leasehold improvements |
|
|
145 |
|
|
|
144 |
|
| Molds |
|
|
1,190 |
|
|
|
1,324 |
|
| |
|
|
1,666 |
|
|
|
1,777 |
|
| Less: accumulated depreciation |
|
|
622 |
|
|
|
557 |
|
| Total |
|
$ |
1,044 |
|
|
$ |
1,220 |
|
The Company recognized approximately
$0.1 million and $0.02 million in depreciation expense during the three months ended February 28, 2021 and February 29, 2020, respectively.
At February 28, 2021 and November
30, 2020, the Company had deposits of $0.6 million, with vendors primarily for supply of molds and equipment where the vendors
have not completed the supply of these assets.
During the three months ended
February 28, 2021, the Company transferred equipment with a net book value of $0.1 million to a lessee under a sales-type lease.
|