Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Property and Equipment

v3.24.3
Note 11 - Property and Equipment
 9 Months Ended
Aug. 31, 2024
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

11.

PROPERTY AND EQUIPMENT

 

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

 

   

August 31,

    

November 30,

  
   

2024

    

2023

  

Computer equipment and software

   $ 838     $ 817  

Furniture and fixtures

     277       273  

Leasehold improvements

     1,050       989  

Machinery and equipment

     3,872       3,425  
      6,037       5,504  

Less: accumulated depreciation

     2,555       1,701  

Total

   $ 3,481     $ 3,803  

 

The Company recognized $0.9 million and $0.7 million in depreciation expense during the nine months ended August 31, 2024 and 2023, respectively.  The Company recognized $0.4 million and $0.3 million in depreciation expense during the three months ended August 31, 2024 and 2023, 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 Income (Loss).

 

At August 31, 2024 and November 30, 2023, the Company had deposits of $1.9   million and $1.2  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.