Options to Acquire Common Stock	6 Months Ended
May 31, 2023
Options To Acquire Common Stock
Options to Acquire Common Stock	Note 9 – Options to Acquire Common Stock On January 1, 2022, the Company issued Eugene Cha, Director, a stock option to acquire an aggregate of 60,000 shares of the common stock of the Company, exercisable for five (5) years at an exercise price of $3.50 per share, subject to vesting. The option vests in equal amounts over a period of one (1) year at the rate of 15,000 shares per fiscal quarter at the end of such quarter, commencing in January 2022, and pro-rated for the number of days the optionee serves on the Board during the fiscal quarter. As of November 30, 2022, Mr. Cha’s option to acquire 60,000 shares of the Company’s stock has vested. For the six-month period ending May 31, 2023, and the twelve-month period ending November 30, 2022, no options have been exercised and based on the Black-Scholes option-pricing model described below, no expense has been recorded for the Company. The estimated amount of expense for vested options is $1,200 and the amount for unvested options is $0. On July 20, 2022, the Company issued Edward Boyle, Advisory Board member, a stock option to acquire an aggregate of 10,000 shares of the common stock of the Company, exercisable for five (5) years at an exercise price of $3.00 per share, subject to vesting. The option vests in equal amounts over a period of nine (9) months with the first 2,500 shares vesting on July 20, 2022 and additional amounts of 2,500 shares vesting on each of the following dates; October 20, 2022, January 20, 2023 and April 20, 2023. For the six-month period ending May 31, 2023, and the twelve-month period ending November 30, 2022, no options have been exercised and based on the Black-Scholes option-pricing model described below, no expense has been recorded for the Company. The estimated amount of expense for vested options is $50 and the amount for unvested options is $150. On December 15, 2022, the Company issued Dr. T.Z. (Ted) Chaung, Advisory Board member, a stock option to acquire an aggregate of 10,000 shares of the common stock of the Company, exercisable for five (5) years at an exercise price of $0.50 per share, subject to vesting. The option vests in equal amounts over a period of one (1) year at the rate of two thousand five hundred (2,500) shares per fiscal quarter at the end of such quarter, commencing in the quarter in which the optionee enters into the grant agreement, and pro-rated for the number of days the optionee serves on the Board of Advisors during the fiscal quarter. Accordingly, as of May 31, 2023, 4,583 options have vested and additional amounts of 2,500 shares vesting on each of the following dates: August 31, 2023; November 30, 2023, with the final 417 shares vesting on February 29, 2024. For the six-month period ending May 31, 2023, and the twelve-month period ending November 30, 2022, no options have been exercised and based on the Black-Scholes option-pricing model described below, no expense has been recorded for the Company. The estimated amount of expense for vested options is $975 and the amount for unvested options is $2,925. Black-Scholes option-pricing model. The Company recognizes the expense related to stock options it has provided individuals to acquire its common stock over the requisite service period (usually the vesting period of one year), utilizing the Black-Scholes option-pricing model. The volatility component of the calculation is based on the historic volatility of the Company’s stock, or the expected future volatility and it is assumed to be 77%. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination behavior. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant and is considered to be 6% and the stock price is considered to be $0.545 per share, the closing stock price as of May 31,2023.

Options to Acquire Common Stock

6 Months Ended

May 31, 2023

Note 9 – Options to Acquire Common Stock

On January 1, 2022, the Company issued Eugene Cha, Director, a stock option to acquire an aggregate of 60,000 shares of the common stock of the Company, exercisable for five (5) years at an exercise price of $3.50 per share, subject to vesting. The option vests in equal amounts over a period of one (1) year at the rate of 15,000 shares per fiscal quarter at the end of such quarter, commencing in January 2022, and pro-rated for the number of days the optionee serves on the Board during the fiscal quarter. As of November 30, 2022, Mr. Cha’s option to acquire 60,000 shares of the Company’s stock has vested. For the six-month period ending May 31, 2023, and the twelve-month period ending November 30, 2022, no options have been exercised and based on the Black-Scholes option-pricing model described below, no expense has been recorded for the Company. The estimated amount of expense for vested options is $1,200 and the amount for unvested options is $0.

On July 20, 2022, the Company issued Edward Boyle, Advisory Board member, a stock option to acquire an aggregate of 10,000 shares of the common stock of the Company, exercisable for five (5) years at an exercise price of $3.00 per share, subject to vesting. The option vests in equal amounts over a period of nine (9) months with the first 2,500 shares vesting on July 20, 2022 and additional amounts of 2,500 shares vesting on each of the following dates; October 20, 2022, January 20, 2023 and April 20, 2023. For the six-month period ending May 31, 2023, and the twelve-month period ending November 30, 2022, no options have been exercised and based on the Black-Scholes option-pricing model described below, no expense has been recorded for the Company. The estimated amount of expense for vested options is $50 and the amount for unvested options is $150.

On December 15, 2022, the Company issued Dr. T.Z. (Ted) Chaung, Advisory Board member, a stock option to acquire an aggregate of 10,000 shares of the common stock of the Company, exercisable for five (5) years at an exercise price of $0.50 per share, subject to vesting. The option vests in equal amounts over a period of one (1) year at the rate of two thousand five hundred (2,500) shares per fiscal quarter at the end of such quarter, commencing in the quarter in which the optionee enters into the grant agreement, and pro-rated for the number of days the optionee serves on the Board of Advisors during the fiscal quarter. Accordingly, as of May 31, 2023, 4,583 options have vested and additional amounts of 2,500 shares vesting on each of the following dates: August 31, 2023; November 30, 2023, with the final 417 shares vesting on February 29, 2024. For the six-month period ending May 31, 2023, and the twelve-month period ending November 30, 2022, no options have been exercised and based on the Black-Scholes option-pricing model described below, no expense has been recorded for the Company. The estimated amount of expense for vested options is $975 and the amount for unvested options is $2,925.

Black-Scholes option-pricing model. The Company recognizes the expense related to stock options it has provided individuals to acquire its common stock over the requisite service period (usually the vesting period of one year), utilizing the Black-Scholes option-pricing model. The volatility component of the calculation is based on the historic volatility of the Company’s stock, or the expected future volatility and it is assumed to be 77%. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination behavior. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant and is considered to be 6% and the stock price is considered to be $0.545 per share, the closing stock price as of May 31,2023.