Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Aug. 31, 2017
Nov. 30, 2016
Current Assets    
Cash and cash equivalents $ 4,667,083 $ 3,499,881
Marketable securities 523,878 624,223
Accounts receivable (net of allowance for doubtful accounts of $2,086,384 and $2,278,862, respectively) 4,861,002 4,052,728
Prepaid expenses 406,061 395,501
Inventory, net 335,757 361,142
Other current assets 183,117 78,448
Total current assets 10,976,898 9,011,923
Property and Equipment-net 888,892 979,463
Other Assets    
Intangible assets, net 235,063 261,000
Deferred tax assets 9,187,070 9,260,582
Deposits and other assets, net 28,888 25,500
Total other assets 9,451,021 9,547,082
Total assets 21,316,811 19,538,468
Current Liabilities    
Accounts payable 1,363,193 1,485,430
Accrued expenses 1,826,361 2,554,330
Current portion of note payable 2,000,000 2,000,000
Deferred revenue 7,406,679 7,071,924
Total current liabilities 12,596,233 13,111,684
Other Liabilities    
Deferred revenue, net of current portion 14,932,709 12,596,292
Note payable, net of current portion and debt issuance costs 5,766,619 7,819,750
Long-term liability - revenue sharing agreements 1,425,000 1,425,000
Total other liabilities 22,124,328 21,841,042
Total liabilities 34,720,561 34,952,726
Commitments and contingencies (Note 10)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 12,893,267 issued and 7,097,691 outstanding as of August 31, 2017 and 12,504,464 issued and 6,789,596 outstanding as of November 30, 2016) 128,932 125,044
Additional paid-in capital 31,097,254 30,340,573
Treasury stock, at cost (19,571,113) (19,124,492)
Accumulated other comprehensive income 95,086 34,408
Accumulated deficit (25,153,909) (26,789,791)
Total stockholders' deficit (13,403,750) (15,414,258)
Total liabilities and stockholders' deficit 21,316,811 19,538,468
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock