Consolidated Statements of Income (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
May 31, 2020 |
May 31, 2019 |
May 31, 2020 |
May 31, 2019 |
|
| REVENUES | ||||
| Revenues | $ 624,420 | $ 793,239 | $ 1,671,924 | $ 2,279,753 |
| OPERATING EXPENSES | ||||
| Payroll and payroll-related expenses | 217,136 | 228,437 | 666,653 | 679,069 |
| Occupancy | 35,992 | 35,130 | 104,344 | 85,677 |
| Advertising and promotion | 2,610 | 19,916 | 24,254 | 42,579 |
| Professional service fees | 22,935 | 30,072 | 102,464 | 111,936 |
| Travel | 239 | 10,007 | 9,748 | 27,742 |
| Employee benefit expenses | 35,973 | 32,672 | 110,170 | 106,595 |
| Depreciation and amortization | 928 | 486 | 2,442 | 1,286 |
| Marketing fund expenses | 172,723 | 253,003 | 447,275 | 737,623 |
| Other | 32,364 | 29,158 | 114,621 | 98,275 |
| Total Operating Expenses | 520,900 | 638,881 | 1,581,971 | 1,890,782 |
| Income from operations | 103,520 | 154,358 | 89,953 | 388,971 |
| Interest income | 91 | 118 | 293 | 502 |
| Income before provision for income taxes | 103,611 | 154,476 | 90,246 | 389,473 |
| Provision for income taxes | ||||
| Current tax expense | 5,000 | 15,000 | 15,000 | |
| Net Income | $ 103,611 | $ 149,476 | $ 75,246 | $ 374,473 |
| Net Income per share - Basic and Diluted (in dollars per share) | $ 0.01 | $ 0.02 | $ 0.01 | $ 0.05 |
| Weighted average shares outstanding - Basic and diluted (in shares) | 7,263,508 | 7,263,508 | 7,263,508 | 7,263,508 |
| Cash distributions declared per share (in dollars per share) | $ 0.01 | $ 0.04 | $ 0.05 | |
| Royalty [Member] | ||||
| REVENUES | ||||
| Revenues | $ 375,282 | $ 435,616 | $ 1,001,112 | $ 1,228,471 |
| Franchise [Member] | ||||
| REVENUES | ||||
| Revenues | 4,874 | 3,455 | 12,398 | 20,281 |
| Licensing Fees and Other Income [Member] | ||||
| REVENUES | ||||
| Revenues | 71,541 | 101,165 | 211,139 | 293,378 |
| Marketing Fund [Member] | ||||
| REVENUES | ||||
| Revenues | $ 172,723 | $ 253,003 | $ 447,275 | $ 737,623 |