Note 7 - Assets Held for Lease

12 Months Ended

Nov. 30, 2024

Notes to Financial Statements

Disclosure of Assets Available for Sale, Not Part of Discontinued Operations [Text Block]

(7) Assets Held for Lease

Major components of assets held for lease are:

	November 30, 2024		November 30, 2023
Modular Buildings	$	89,033	$	145,494
Total assets held for lease	$	89,033	$	145,494

The Company’s Modular Buildings segment enters into leasing arrangements with customers from time-to-time. The Company had four buildings in assets held for lease for the years ending November 30, 2024 and November 30, 2023.

Two modular buildings were sold in fiscal 2023 for $278,915. The Company recognized a gain on the sale of assets held for lease of approximately of $114,156 in fiscal 2023.

Rents recognized in sales were related to the leasing of modular buildings as a part of the normal course of business operations of the Modular Buildings segment. There were $203,388 of rents recognized from assets held for lease included in sales on the Consolidated Statements of Operations during the 2024 fiscal year compared to $111,669 in the 2023 fiscal year.

The future minimum lease receipts from assets held for lease on November 30, 2024 are as follows:

Year Ending November 30,	Amount
2025	$	79,720
Total	$	79,720