| Summary of license fees earned |
The initial license fees and processing and storage royalties are reflected in licensee income in the accompanying consolidated statements of operations.
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For the years ended November 30, |
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2012 |
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2011 |
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License
Fee
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Process
and
Storage
Royalties
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Total |
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License
Fee
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Process
and
Storage
Royalties
|
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Total |
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China
|
|
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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|
$ |
50,000 |
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$ |
50,000 |
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India
|
|
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— |
|
|
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677,647 |
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|
677,647 |
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|
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— |
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677,647 |
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677,647 |
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Mexico
|
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— |
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619,171 |
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619,171 |
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— |
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595,306 |
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595,306 |
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Costa Rica
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25,000 |
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|
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— |
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25,000 |
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15,983 |
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— |
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15,983 |
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Germany (1)
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— |
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9,769 |
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— |
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9,769 |
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Nicaragua
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20,000 |
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— |
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20,000 |
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|
15,000 |
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|
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— |
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|
|
15,000 |
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Total
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$ |
45,000 |
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$ |
1,296,818 |
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|
$ |
1,341,818 |
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|
$ |
40,752 |
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$ |
1,322,953 |
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$ |
1,363,705 |
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| (1) |
Innovative Medical Solutions SRL (“Germany”) advised the Company that it intends to terminate the umbilical cord blood and menstrual stem cell license
agreements. Per the terms of the agreements, Germany owed the Company $50,000 on October 1, 2010. For the years ended November 30, 2012 and the November 30, 2011, Germany paid the Company $0 and $9,769, respectively, which is
reflected in the accompanying consolidated statements of operations. The Company has not recorded any additional revenue associated with the two agreements in the Company’s consolidated statements of operations for the years ended
November 30, 2012 and 2011, as the collectability is uncertain. |
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