Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.20.4
PROPERTY AND EQUIPMENT
 12 Months Ended
Nov. 30, 2020
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
9. PROPERTY AND EQUIPMENT

 

The following table summarizes cost and accumulated depreciation as of November 30, 2020 and 2019, respectively.

           

    November 30,  
    2020     2019  
Computer equipment and software   $ 203,829     $ 116,348  
Furniture and fixtures     105,371       20,998  
Leasehold improvements     143,503       26,471  
Molds     1,324,167       507,347  
      1,776,870       671,164  
Less: accumulated depreciation     556,662       349,876  
Total   $ 1,220,208     $ 321,288  

The Company recognized $177,181 and $46,844 in depreciation expense during the years ended November 30, 2020 and 2019, respectively.

 

At November 31, 2020 and 2019, the Company deposited $619,144 and $196,921, respectively, with vendors primarily for supply of molds and equipment where the vendors have not completed supply of these assets.