v3.24.2
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
May 31, 2024
May 31, 2023
Cash flows from operating activities:    
Net income $ 1,212,031 $ 987,788
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 198,264 724,890
Impairment of investment - Tianhe stock 308,000 0
Change in fair value of contingent consideration (8,873) (187,825)
Unrealized gains on marketable securities (533,594) (6,696)
Unrealized (gain) loss on interest rate swap contract (105,887) 223,974
Compensatory element of stock options 485,494 469,591
Provision for doubtful accounts 560,200 403,040
Amortization of debt issuance costs 10,669 10,862
Amortization of operating lease right-of-use asset 151,413 155,617
Changes in assets and liabilities:    
Accounts receivable (815,407) (1,041,578)
Prepaid expenses (36,374) (83,909)
Inventory 122,728 410,993
Other current assets (45,525) 17,820
Deposits and other assets, net (32,551) (56,798)
Accounts payable (599,852) 609,687
Accrued expenses (1,953,539) (1,369,083)
Operating lease liability (110,508) (157,011)
Deferred revenue 2,609,927 2,521,664
Net cash (used in) from operating activities 1,416,616 3,633,026
Cash flows from investing activities:    
Purchases of property and equipment (2,209,654) (1,833,043)
Payment of Duke license agreement (933,334) (400,000)
Proceeds from liquidation of marketable securities 0 179,306
Purchases of marketable securities (854,869) (1,082,923)
Sale of marketable securities 902,210 359,752
Net cash used in investing activities (3,095,647) (2,776,908)
Cash flows from financing activities:    
Treasury stock purchases (1,407,471) (791,452)
Repayments of note payable (78,370) (77,126)
Repayment of line of credit (200,000) (500,000)
Proceeds from line of credit 3,200,000 0
Proceeds from Swap termination 228,000 0
Payment of Cord:Use earnout 0 (67,500)
Net cash provided by (used in) financing activities 1,742,159 (1,436,078)
Increase (decrease) in cash and cash equivalents 63,128 (579,960)
Cash and cash equivalents - beginning of period 406,067 1,703,958
Cash and cash equivalents - end of period 469,195 1,123,998
Supplemental non-cash operating activities:    
Lease liability arising from right-of-use asset 0 737,867
Supplemental investing activities:    
Construction costs payable (880,348) 1,841,254
Supplemental cash flow information:    
Interest 940,697 869,076
Income taxes $ 1,952,502 $ 983,647

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