DEBT (Tables)

6 Months Ended

May 31, 2014

DEBT

Summary of the recorded value of the convertible note

The following table (in thousands) is a summary of the recorded value of the convertible note as of May 31, 2014.  The value of the convertible note reflects the present value of the contractual cash flows from the convertible notes and resulted in an original issue discount of $10,490,000 including the additional original discount attributed to the embedded conversion derivative of $5,496,000, that were recorded on September 30, 2013, the issuance date.

	Balance
	May 31, 2014
Convertible notes - Face value	$	32,445
Less: Original issue discount	(4,994		)
Less: Debt discount related to the embedded derivative liability	(5,496		)
Convertible notes recorded value on issue date	21,955
Add: PIK notes issued	433
Accretion of debt discounts	1,062
Convertible notes value	23,450
Plus: Embedded derivative liability - fair market value	—
Debt as of May 31, 2014	$	23,450

Schedule of interest expense

The following table (in thousands) is a summary of our total interest expense as follow:

	Three monthes ended				Six monthes ended
	May 31, 2014		May 31, 2013		May 31, 2014		May 31, 2013
Contractual coupon interest	$	2,791	$	127	$	5,543	$	197
Amortization of discount and deferred financing costs	564		—		1,133		—
Total interest expense	$	3,355	$	127	$	6,676	$	197