Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Nov. 30, 2012
Nov. 30, 2011
Current Assets    
Cash and cash equivalents $ 2,677,382 $ 6,305,095
Restricted cash 2,576,844 2,700,000
Marketable securities and other investments   1,002,000
Accounts receivable (net of allowance for doubtful accounts of $1,367,465 and $942,533, respectively ) 3,401,597 3,059,126
Deferred income tax assets   209,919
Prepaid expenses and other current assets 659,179 777,284
Total current assets 9,315,002 14,053,424
Property and Equipment-net 1,281,075 1,540,239
Other Assets    
Marketable securities and other investments 13,660 6,404
Investment in Saneron CCEL Therapeutics, Inc. 684,000 684,000
Long-term note receivable, net 550,697 1,115,423
Deposits and other assets, net 486,225 558,254
Deferred income tax assets, less current portion   1,509,000
Total other assets 1,734,582 3,873,081
Total assets 12,330,659 19,466,744
Current Liabilities    
Accounts payable 1,209,973 1,005,240
Accrued expenses 2,917,758 2,316,875
Short-term liability - revenue sharing agreement   900,000
Deferred consulting obligation 0 72,183
Deferred revenue 6,536,160 6,269,148
Total current liabilities 10,663,891 10,563,446
Other Liabilities    
Deferred revenue, net of current portion 8,364,533 8,513,686
Long-term liability - revenue sharing agreements 2,300,000 2,850,000
Total other liabilities 10,664,533 11,363,686
Commitments and Contingencies (Note 9)      
Stockholders' Deficit    
Preferred stock ($.01 par value, 500,000 authorized and none issued)      
Common stock ($.01 par value, 20,000,000 authorized; 11,860,040 issued and 11,067,666 outstanding as of November 30, 2012 and 11,853,227 issued and outstanding as of November 30, 2011) 118,600 118,532
Additional paid-in capital 26,824,478 25,350,483
Treasury stock, at cost (2,187,505) (484,535)
Accumulated deficit (33,753,338) (27,444,868)
Total stockholders' deficit (8,997,765) (2,460,388)
Total liabilities and stockholders' deficit $ 12,330,659 $ 19,466,744