Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
May 31, 2018
Nov. 30, 2017
Current Assets    
Cash and cash equivalents $ 6,540,982 $ 6,279,154
Marketable securities 572,605 439,322
Accounts receivable (net of allowance for doubtful accounts of $2,020,640 and $2,098,991, respectively) 4,819,813 5,125,591
Prepaid expenses 488,818 372,152
Inventory, net 424,494 314,566
Other current assets 190,416 206,136
Total current assets 13,037,128 12,736,921
Property and Equipment-net 1,038,039 882,382
Other Assets    
Intangible assets, net 404,127 226,418
Deferred tax assets 7,011,951 10,035,388
Deposits and other assets, net 728,888 28,888
Total other assets 8,144,966 10,290,694
Total assets 22,220,133 23,909,997
Current Liabilities    
Accounts payable 1,113,142 1,928,542
Accrued expenses 2,182,099 2,582,475
Current portion of note payable 2,000,000 2,000,000
Deferred revenue 7,502,994 7,428,829
Total current liabilities 12,798,235 13,939,846
Other Liabilities    
Deferred revenue, net of current portion 17,750,331 15,752,864
Note payable, net of current portion and debt issuance costs 4,346,723 5,295,183
Long-term liability - revenue sharing agreements 1,425,000 1,425,000
Total other liabilities 23,522,054 22,473,047
Total liabilities 36,320,289 36,412,893
Commitments and contingencies (Note 8)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 13,069,483 issued and 7,273,907 outstanding as of May 31, 2018 and 12,899,517 issued and 7,103,941 outstanding as of November 30, 2017) 130,695 128,995
Additional paid-in capital 31,644,654 31,373,048
Treasury stock, at cost (19,571,113) (19,571,113)
Accumulated other comprehensive income 160,865 40,865
Accumulated deficit (26,465,257) (24,474,691)
Total stockholders' deficit (14,100,156) (12,502,896)
Total liabilities and stockholders' deficit 22,220,133 23,909,997
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock