v3.22.2
Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
May 31, 2022
May 31, 2021
May 31, 2022
May 31, 2021
Revenue $ 7,633,217 $ 7,205,195 $ 14,891,748 $ 14,065,812
Costs and Expenses:        
Cost of sales 2,201,540 2,222,671 4,304,742 4,234,868
Selling, general and administrative expenses 3,912,586 3,148,396 7,288,540 6,581,708
Change in fair value of contingent consideration 36,105 (431,599) (152,538) (279,205)
Research, development and related engineering 80,896 3,237 228,116 9,427
Depreciation and amortization 279,926 267,422 558,092 288,685
Total costs and expenses 6,438,843 5,210,127 12,226,952 10,835,483
Operating Income 1,194,374 1,995,068 2,664,796 3,230,329
Other Expense:        
Losses on marketable securities (18,188) (12,512) (26,830) (15,088)
Other income 118 25 127 50
Interest expense (276,524) (341,390) (582,619) (621,609)
Total other expense (294,594) (353,877) (609,322) (636,647)
Income before income tax expense 899,780 1,641,191 2,055,474 2,593,682
Income tax expense (265,061) (470,562) (588,708) (729,463)
Net Income $ 634,719 $ 1,170,629 $ 1,466,766 $ 1,864,219
Net income per common share - basic $ 0.08 $ 0.15 $ 0.17 $ 0.24
Weighted average common shares outstanding - basic 8,437,544 7,950,791 8,479,071 7,760,214
Net income per common share - diluted $ 0.07 $ 0.14 $ 0.17 $ 0.23
Weighted average common shares outstanding - diluted 8,553,085 8,273,767 8,643,106 8,060,506
Processing and Storage Fees [Member]        
Revenue $ 7,480,082 $ 7,158,886 $ 14,637,568 $ 13,897,517
Public Banking [Member]        
Revenue 116,735 46,309 199,580 130,295
Product [Member]        
Revenue $ 36,400 $ 0 $ 54,600 $ 38,000

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