Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Feb. 28, 2018
Nov. 30, 2017
Current Assets    
Cash and cash equivalents $ 6,991,401 $ 6,279,154
Marketable securities 586,230 439,322
Accounts receivable (net of allowance for doubtful accounts of $2,024,893 and $2,098,991, respectively) 4,927,751 5,125,591
Prepaid expenses 298,100 372,152
Inventory, net 374,442 314,566
Other current assets 213,817 206,136
Total current assets 13,391,741 12,736,921
Property and Equipment-net 1,086,954 882,382
Other Assets    
Intangible assets, net 415,272 226,418
Deferred tax assets 6,988,056 10,035,388
Deposits and other assets, net 28,888 28,888
Total other assets 7,432,216 10,290,694
Total assets 21,910,911 23,909,997
Current Liabilities    
Accounts payable 1,197,918 1,928,542
Accrued expenses 2,865,447 2,582,475
Current portion of note payable 2,000,000 2,000,000
Deferred revenue 7,249,160 7,428,829
Total current liabilities 13,312,525 13,939,846
Other Liabilities    
Deferred revenue, net of current portion 16,707,878 15,752,864
Note payable, net of current portion and debt issuance costs 4,821,885 5,295,183
Long-term liability-revenue sharing agreements 1,425,000 1,425,000
Total other liabilities 22,954,763 22,473,047
Total liabilities 36,267,288 36,412,893
Commitments and contingencies (Note 8)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 12,900,767 issued and 7,105,191 outstanding as of February 28,2018 and 12,899,517 issued and 7,103,941 outstanding as of November 30, 2017) 129,008 128,995
Additional paid-in capital 31,930,880 31,373,048
Treasury stock, at cost (19,571,113) (19,571,113)
Accumulated other comprehensive income 159,611 40,865
Accumulated deficit (27,004,763) (24,474,691)
Total stockholders' deficit (14,356,377) (12,502,896)
Total liabilities and stockholders' deficit 21,910,911 23,909,997
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock