Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
May 31, 2017
May 31, 2016
Cash flows from operating activities:    
Net Income $ 983,863 $ 514,196
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 113,708 147,652
Compensatory element of stock options 471,019 388,115
Provision for doubtful accounts 81,563 375,199
Gain on extinguishment of debt   (300,593)
Deferred income tax benefit 66,795  
Amortization of debt issuance costs 66,442  
Changes in assets and liabilities:    
Accounts receivable (584,875) (1,018,577)
Prepaid expenses (103,203) 21,550
Inventory 64,884 16,028
Other current assets (76,955) 47,380
Deposits and other assets, net (3,388) 15,111
Accounts payable (300,361) 347,008
Accrued expenses 81,448 (39,042)
Deferred revenue 1,521,627 830,799
Net cash provided by operating activities 2,382,567 1,344,826
Cash flows from investing activities:    
Release of restricted cash held in escrow   204,344
Purchases of property and equipment (4,505) (292,242)
Sales (purchases) of marketable securities and other investments, net 172,523 (224,047)
Net cash provided by (used in) investing activities 168,018 (311,945)
Cash flows from financing activities:    
Treasury stock purchases (403,925) (443,207)
Repayments of note payable (1,000,000) (875,774)
Proceeds from the exercise of stock options 51,396  
Proceeds from note payable   650,100
Net cash used in financing activities (1,352,529) (668,881)
Increase in cash and cash equivalents 1,198,056 364,000
Cash and cash equivalents-beginning of period 3,499,881 4,152,162
Cash and cash equivalents-end of period 4,697,937 4,516,162
Supplemental non-cash investing activities:    
Unrealized gain (loss) on marketable securities, net of tax $ 26,640 $ (100,220)