Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
May 31, 2018
May 31, 2017
Cash flows from operating activities:    
Net (loss) income $ (1,990,566) $ 983,863
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization expense 120,338 113,708
Compensatory element of stock options 268,386 471,019
Provision for doubtful accounts 185,107 81,563
Deferred income tax expense 3,023,437 66,795
Amortization of debt issuance costs 51,540 66,442
Changes in assets and liabilities:    
Accounts receivable 120,671 (584,875)
Prepaid expenses (116,666) (103,203)
Inventory (109,928) 64,884
Other current assets 15,720 (76,955)
Deposits and other assets, net (700,000) (3,388)
Accounts payable (815,400) (300,361)
Accrued expenses (400,376) 81,448
Deferred revenue 2,071,632 1,521,627
Net cash provided by operating activities 1,723,895 2,382,567
Cash flows from investing activities:    
Purchases of property and equipment (253,704) (4,505)
Purchase of intangible asset (200,000)  
(Purchases) sales of marketable securities and other investments, net (13,283) 172,523
Net cash (used in) provided by investing activities (466,987) 168,018
Cash flows from financing activities:    
Treasury stock purchases   (403,925)
Repayments of note payable (1,000,000) (1,000,000)
Proceeds from the exercise of stock options 4,920 51,396
Net cash used in financing activities (995,080) (1,352,529)
Increase in cash and cash equivalents 261,828 1,198,056
Cash and cash equivalents - beginning of period 6,279,154 3,499,881
Cash and cash equivalents - end of period 6,540,982 4,697,937
Supplemental non-cash investing activities:    
Unrealized gain on marketable securities, net of tax $ 120,000 $ 26,640