v3.22.2.2
Consolidated Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Aug. 31, 2022
Aug. 31, 2021
Aug. 31, 2022
Aug. 31, 2021
Revenue $ 7,680,959 $ 7,503,652 $ 22,572,707 $ 21,569,464
Costs and Expenses:        
Cost of sales 2,348,755 2,458,938 6,653,497 6,693,806
Selling, general and administrative expenses 3,603,411 3,493,794 10,891,951 10,075,502
Change in fair value of contingent consideration 412,307 (324,904) 259,769 (604,109)
Research, development and related engineering 80,272 10,004 308,388 19,431
Depreciation and amortization 281,903 269,482 839,995 558,167
Total costs and expenses 6,726,648 5,907,314 18,953,600 16,742,797
Operating Income 954,311 1,596,338 3,619,107 4,826,667
Other Expense:        
(Losses) gains on marketable securities (11,627) 736 (38,457) (14,352)
Gain on interest rate swap 62,835 0 62,835 0
Other income 796 25 923 75
Interest expense (365,349) (335,870) (947,968) (957,479)
Total other expense (313,345) (335,109) (922,667) (971,756)
Income before income tax expense 640,966 1,261,229 2,696,440 3,854,911
Income tax expense (174,146) (404,735) (762,854) (1,134,198)
Net Income $ 466,820 $ 856,494 $ 1,933,586 $ 2,720,713
Net income per common share - basic $ 0.06 $ 0.10 $ 0.23 $ 0.34
Weighted average common shares outstanding - basic 8,390,335 8,452,374 8,449,277 7,996,278
Net income per common share - diluted $ 0.06 $ 0.10 $ 0.23 $ 0.33
Weighted average common shares outstanding - diluted 8,404,485 8,692,331 8,475,661 8,217,454
Processing and Storage Fees [Member]        
Revenue $ 7,522,134 $ 7,326,516 $ 22,159,702 $ 21,224,033
Public Banking [Member]        
Revenue 137,825 158,936 337,405 289,231
Product [Member]        
Revenue $ 21,000 $ 18,200 $ 75,600 $ 56,200

Source