| 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,
2018 and 2017, respectively, segregated among the appropriate
levels within the fair value hierarchy:
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Fair Value
Measurements |
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Fair Value at |
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at November 30, 2018 Using |
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Description
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November 30,
2018 |
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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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$ |
68,816 |
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$ |
68,816 |
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— |
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— |
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Available-for-sale securities
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806,873 |
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806,873 |
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— |
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— |
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Total
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$ |
875,689 |
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$ |
875,689 |
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— |
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— |
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Liabilities:
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Contingent consideration
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$ |
4,282,975 |
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$ |
— |
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— |
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$ |
4,282,975 |
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Total
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$ |
4,282,975 |
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$ |
— |
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— |
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$ |
4,282,975 |
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Contingent Consideration:
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Beginning Balance as of
November 30, 2017
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$ |
——— |
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Additions – Cord:Use earnout
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4,698,255 |
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Fair value adjustment as of November 30, 2018
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(415,280 |
) |
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Ending balance as of
November 30, 2018
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$ |
4,282,975 |
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Fair Value
Measurements |
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Fair Value at |
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at November 30, 2017 Using |
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Description
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November 30,
2017 |
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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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$ |
96,600 |
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$ |
96,600 |
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— |
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— |
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Available-for-sale securities
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342,722 |
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342,722 |
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— |
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— |
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Total
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$ |
439,322 |
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$ |
439,322 |
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— |
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— |
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| Calculation of Basic and Diluted Net (loss) Income per Common Share |
The composition of basic and diluted net (loss) income per share is
as follows:
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November 30, 2018 |
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November 30, 2017 |
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Numerator:
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Net (loss) income
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($ |
855,000 |
) |
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$ |
2,315,000 |
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Denominator:
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Weighted-average shares outstanding-basic
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7,463,051 |
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7,062,870 |
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Dilutive common shares issuable upon exercise of stock options
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— |
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590,114 |
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Weighted-average shares-diluted
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7,463,051 |
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7,652,984 |
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(Loss) Income per share:
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Basic
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($ |
0.11 |
) |
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$ |
0.33 |
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Diluted
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($ |
0.11 |
) |
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$ |
0.30 |
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