Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Nov. 30, 2017
Nov. 30, 2016
Current Assets    
Cash and cash equivalents $ 6,279,154 $ 3,499,881
Marketable securities 439,322 624,223
Accounts receivable (net of allowance for doubtful accounts of $2,098,991 and $2,278,862, respectively) 5,125,591 4,052,728
Prepaid expenses 372,152 395,501
Inventory, net 314,566 361,142
Other current assets 206,136 78,448
Total current assets 12,736,921 9,011,923
Property and Equipment-net 882,382 979,463
Other Assets    
Intangible assets, net 226,418 261,000
Deferred tax assets 10,035,388 9,260,582
Deposits and other assets, net 28,888 25,500
Total other assets 10,290,694 9,547,082
Total assets 23,909,997 19,538,468
Current Liabilities    
Accounts payable 1,928,542 1,485,430
Accrued expenses 2,582,475 2,554,330
Current portion of note payable 2,000,000 2,000,000
Deferred revenue 7,428,829 7,071,924
Total current liabilities 13,939,846 13,111,684
Other Liabilities    
Deferred revenue, net of current portion 15,752,864 12,596,292
Note payable, net of current portion and debt issuance costs 5,295,183 7,819,750
Long-term liability - revenue sharing agreements 1,425,000 1,425,000
Total other liabilities 22,473,047 21,841,042
Total liabilities 36,412,893 34,952,726
Commitments and contingencies (Note 13)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 12,899,517 issued and 7,103,941 outstanding as of November 30, 2017 and 12,504,464 issued and 6,789,596 outstanding as of November 30, 2016) 128,995 125,044
Additional paid-in capital 31,373,048 30,340,573
Treasury stock, at cost (19,571,113) (19,124,492)
Accumulated other comprehensive income 40,865 34,408
Accumulated deficit (24,474,691) (26,789,791)
Total stockholders' deficit (12,502,896) (15,414,258)
Total liabilities and stockholders' deficit 23,909,997 19,538,468
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock