v3.21.1
Consolidated Statements of Income - USD ($)
3 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Revenue $ 6,860,617 $ 7,620,774
Costs and Expenses:    
Cost of sales 2,012,197 2,503,144
Selling, general and administrative expenses 3,433,312 3,870,029
Change in fair value of contingent consideration 152,394 (51,412)
Research, development and related engineering 6,190 5,722
Depreciation and amortization 21,263 44,221
Total costs and expenses 5,625,356 6,371,704
Operating Income 1,235,261 1,249,070
Other Expense:    
(Losses) gains on marketable securities (2,576) 54,948
Other income 25 627
Interest expense (280,219) (365,299)
Total other expense (282,770) (309,724)
Income before income tax expense 952,491 939,346
Income tax expense (258,901) (252,380)
Net Income $ 693,590 $ 686,966
Net income per common share - basic $ 0.09 $ 0.09
Weighted average common shares outstanding - basic 7,570,913 7,541,113
Net income per common share - diluted $ 0.08 $ 0.08
Weighted average common shares outstanding - diluted 8,198,591 8,128,257
Processing and Storage Fees [Member]    
Revenue $ 6,738,631 $ 7,406,288
Public Banking [Member]    
Revenue 83,986 154,079
Product [Member]    
Revenue $ 38,000 $ 60,407

Source