Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Feb. 28, 2018
Feb. 28, 2017
Cash flows from operating activities:    
Net (loss) income $ (2,530,072) $ 486,923
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization expense 60,278 57,634
Compensatory element of stock options 555,595 77,357
Provision for doubtful accounts 69,432 101,930
Deferred income tax expense 3,047,332  
Amortization of debt issuance costs 26,702 34,153
Changes in assets and liabilities:    
Accounts receivable 128,408 (498,713)
Prepaid expenses 74,052 (64,451)
Inventory (59,876) 75,181
Other current assets (7,681) (64,429)
Deposits and other assets, net   (3,388)
Accounts payable (730,624) 34,721
Accrued expenses 282,972 (439,668)
Deferred revenue 775,345 631,809
Net cash provided by operating activities 1,691,863 429,059
Cash flows from investing activities:    
Purchases of property and equipment (253,704) (2,921)
Purchase of intangible asset (200,000)  
(Purchases) sales of marketable securities and other investments, net (28,162) 136,446
Net cash (used in) provided by investing activities (481,866) 133,525
Cash flows from financing activities:    
Treasury stock purchases   (88,691)
Repayments of note payable (500,000) (500,000)
Proceeds from the exercise of stock options 2,250 33,496
Net cash used in financing activities (497,750) (555,195)
Increase in cash and cash equivalents 712,247 7,389
Cash and cash equivalents-beginning of period 6,279,154 3,499,881
Cash and cash equivalents-end of period 6,991,401 3,507,270
Supplemental non-cash investing activities:    
Unrealized gain (loss) on marketable securities, net of tax $ 118,746 $ (7,061)