v3.21.2
Consolidated Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Aug. 31, 2021
Aug. 31, 2020
Aug. 31, 2021
Aug. 31, 2020
Revenue $ 7,503,652 $ 8,114,358 $ 21,569,464 $ 23,606,976
Costs and Expenses:        
Cost of sales 2,458,938 2,360,324 6,693,806 7,344,011
Selling, general and administrative expenses 3,493,794 3,375,807 10,075,502 10,804,404
Change in fair value of contingent consideration (324,904) (145,752) (604,109) (169,741)
Research, development and related engineering 10,004 1,248 19,431 16,791
Depreciation and amortization 269,482 42,510 558,167 130,034
Total costs and expenses 5,907,314 5,634,137 16,742,797 18,125,499
Operating Income 1,596,338 2,480,221 4,826,667 5,481,477
Other Expense:        
Gains (losses) on marketable securities 736 (134,626) (14,352) (133,250)
Other income 25 17 75 749
Interest expense (335,870) (338,675) (957,479) (1,069,345)
Loss on extinguishment of revenue sharing agreement   (1,070,900)   (1,070,900)
Total other expense (335,109) (1,544,184) (971,756) (2,272,746)
Income before income tax expense 1,261,229 936,037 3,854,911 3,208,731
Income tax expense (404,735) (151,570) (1,134,198) (783,960)
Net Income $ 856,494 $ 784,467 $ 2,720,713 $ 2,424,771
Net income per common share - basic $ 0.10 $ 0.10 $ 0.34 $ 0.32
Weighted average common shares outstanding - basic 8,452,374 7,545,613 7,996,278 7,544,124
Net income per common share - diluted $ 0.10 $ 0.10 $ 0.33 $ 0.30
Weighted average common shares outstanding - diluted 8,692,331 8,179,465 8,217,454 8,137,463
Processing and Storage Fees [Member]        
Revenue $ 7,326,516 $ 7,486,858 $ 21,224,033 $ 22,292,220
Public Banking [Member]        
Revenue 158,936 116,826 289,231 484,547
Licensee and Royalty Income [Member]        
Revenue   427,874   629,702
Product [Member]        
Revenue $ 18,200 $ 82,800 $ 56,200 $ 200,507

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