Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Property and Equipment

v3.22.2.2
Note 9 - Property and Equipment
 9 Months Ended
Aug. 31, 2022
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

9.

PROPERTY AND EQUIPMENT

 

The following table summarizes cost and accumulated depreciation (in thousands):

 

   

August 31,

    

November 30,

  
   

2022

    

2021

  

Computer equipment and software

   $ 327     $ 275  

Furniture and fixtures

     359       208  

Leasehold improvements

     729       157  

Machinery and equipment

     2,297       1,738  
      3,712       2,378  

Less: accumulated depreciation

     677       406  

Total

   $ 3,035     $ 1,972  

 

The Company recognized approximately $0.4 million and $0.3 million in depreciation expense during the nine months ended August 31, 2022 and 2021, respectively.  The Company recognized approximately $0.2 million and $0.1 million in depreciation expense during the three months ended August 31, 2022 and 2021, respectively.  Depreciation expense is presented in the operating expenses and within cost of goods sold in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss.

 

At August 31, 2022 and November 30, 2021, the Company had deposits of $2.0 million and $1.3 million, respectively, with vendors primarily for supply of machinery (molds) and equipment where the vendors have not completed the supply of these assets and is presented as Deposits for equipment in the Condensed Consolidated Balance Sheets.