Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.1
LEASES (Tables)
 3 Months Ended
Feb. 28, 2021
Leases [Abstract]  
Schedule of lease expense

The elements of lease expense were as follows (in thousands):

 

    Three Months Ended  
    February 28, 2021    

February 29, 2020

  
Lease Cost:                
Operating lease cost   $ 92     $ 12  
Short-term lease cost     5       5  
Variable lease cost     —       5  
Total lease cost   $ 97     $ 22  
                 
Other Information:                
Cash paid for amounts included in the measurement of operating lease liabilities   $ 86     $ 12  
Operating lease liabilities arising from obtaining right-of-use assets   $ 182     $ 4  
                 
Operating Leases:                
Weighted-average remaining lease term (in years)     4.9 years         1.9 years  
Weighted-average discount rate     9.2 %     8.8 %
                 
Schedule of future lease payments under non-cancelable operating leases

Future lease payments under non-cancelable operating leases as of February 28, 2021 are as follows (in thousands):

 

Fiscal Year Ended November 30,  
2021 (nine months)     $ 227  
2022       310  
2023       276  
2024       283  
2025       187  
Thereafter       162  
Total lease payments       1,445  
Less: imputed interest       281  
Total lease liabilities     $ 1,164  
Schedule of sales-type leases

The receivable recorded as a result of the lease is collateralized by the underlying equipment and consist of the following components at February 28, 2021 (in thousands):

 

Net minimum lease payments to be received   $ 122  
Less: unearned interest income portion     16  
Net investment in sales-type leases, current     106  
Less: current portion     39  
Net investment in sales-type leases, non-current   $ 67  
Schedule of future minimum lease payments under sales-type leases

The maturity schedule of future minimum lease payments under sales-type leases and the reconciliation to the net investment in sales-type leases reported at February 28, 2021 was as follows (in thousands):

 

Fiscal Year Ended November 30,
2021 (nine months)   $ 36  
2022     49  
2023     37  
Total future minimum sales-type lease payments     122  
Less: unearned income     16  
Total net investment in sales-type leases   $ 106