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Description of Business and Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
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Nov. 30, 2012
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| Description of Business and Summary of Significant Accounting Policies [Abstract] |
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| Allowance for doubtful accounts |
The activity in the allowance for doubtful accounts is as follows for the years ended November 30, 2012 and 2011:
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December 1, 2010
|
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$ |
783,354 |
|
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Bad Debt Expense
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|
227,907 |
|
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Write-offs
|
|
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(193,184 |
) |
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Recoveries
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|
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124,456 |
|
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|
|
|
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|
November 30, 2011
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|
|
942,533 |
|
| |
|
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Bad Debt Expense
|
|
|
746,007 |
|
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Write-offs
|
|
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(434,401 |
) |
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Recoveries
|
|
|
113,326 |
|
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|
|
|
|
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November 30, 2012
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|
$ |
1,367,465 |
|
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| Estimated useful lives of property and equipment |
Estimated useful lives of property and equipment are as follows:
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| Furniture and equipment |
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3-10 years |
| Leasehold improvements |
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Lesser of 8-10 years or the lives of the leases |
| Computer software – internal use |
|
1-5 years |
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| Summary of Patent costs |
Patent costs are as follows:
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2012 |
|
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2011 |
|
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Patents
|
|
$ |
490,545 |
|
|
$ |
529,385 |
|
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Less: Accumulated amortization
|
|
|
(87,249 |
) |
|
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(74,060 |
) |
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Net Patents
|
|
$ |
403,296 |
|
|
$ |
455,325 |
|
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| Future amortization expenses |
The future amortization expenses are as follows:
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Fiscal Year Ending November 30,
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Amortization |
|
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2013
|
|
$ |
25,900 |
|
|
2014
|
|
$ |
25,900 |
|
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2015
|
|
$ |
25,900 |
|
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2016
|
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$ |
25,900 |
|
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2017
|
|
$ |
25,900 |
|
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Thereafter
|
|
$ |
273,796 |
|
|
| Financial assets and liabilities measured at fair value on recurring basis |
The following table summarizes our financial assets
and liabilities measured at fair value on a recurring basis as of November 30, 2012 and 2011, respectively, segregated among the appropriate levels within the fair value hierarchy:
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Fair Value
at
November 30,
2012
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Fair Value Measurements
at November 30, 2012 Using |
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Description
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Level 1 |
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Level 2 |
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Level 3 |
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Assets:
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Trading securities
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$ |
13,660 |
|
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$ |
13,660 |
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|
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— |
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— |
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Fair Value
at
November 30,
2011
|
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Fair Value Measurements
at November 30, 2011 Using |
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Description
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Level 1 |
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Level 2 |
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Level 3 |
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Assets:
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Available-for-sale securities
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$ |
1,008,404 |
|
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$ |
6,404 |
|
|
$ |
1,002,000 |
|
|
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— |
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| Composition of basic and diluted net income per share |
The composition of basic and diluted net income per share is as follows:
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November 30, 2012 |
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November 30, 2011 |
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Numerator:
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Net Loss
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($ |
6,308,470 |
) |
|
($ |
2,095,526 |
) |
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Denominator:
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Weighted-average shares outstanding - basic
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|
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11,308,872 |
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|
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11,763,290 |
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Dilutive common shares issuable upon exercise of stock options
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Weighted-average shares - diluted
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11,308,872 |
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11,763,290 |
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Loss per share:
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Basic
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($ |
0.56 |
) |
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($ |
0.18 |
) |
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Diluted
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($ |
0.56 |
) |
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($ |
0.18 |
) |
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