Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Comprehensive Income (Loss)

v3.19.3
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
3 Months Ended 9 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Aug. 31, 2019
Aug. 31, 2018
Revenue $ 8,223,393 $ 7,871,222 $ 23,846,357 $ 20,624,803
Costs and Expenses:        
Cost of sales 2,589,335 2,486,180 7,683,853 5,864,826
Selling, general and administrative expenses 3,556,602 4,390,614 10,949,831 11,513,190
Impairment of public inventory     2,332,763  
Change in fair value of contingent consideration 34,649   (636,278)  
Research, development and related engineering 2,440 22,234 13,281 64,927
Depreciation and amortization 47,286 52,072 159,600 124,865
Total costs and expenses 6,230,312 6,951,100 20,503,050 17,567,808
Operating Income 1,993,081 920,122 3,343,307 3,056,995
Other Expense:        
Other income (expense) 35,868 38,300 2,014 14,520
Interest expense (413,942) (410,366) (1,245,154) (995,437)
Total other expense (378,074) (372,066) (1,243,140) (980,917)
Income before income tax expense 1,615,007 548,056 2,100,167 2,076,078
Income tax expense (498,748) (303,072) (654,358) (3,821,660)
Net Income (Loss) $ 1,116,259 $ 244,984 $ 1,445,809 $ (1,745,582)
Net income (loss) per common share—basic $ 0.14 $ 0.03 $ 0.19 $ (0.24)
Weighted average common shares outstanding—basic 7,803,333 7,694,662 7,802,676 7,350,868
Net income (loss) per common share—diluted $ 0.13 $ 0.03 $ 0.17 $ (0.24)
Weighted average common shares outstanding—diluted 8,445,237 8,375,675 8,430,251 7,350,868
Other Comprehensive Income        
Unrealized gain on marketable securities (net of tax)   $ 285,255   $ 405,255
Comprehensive Income (Loss) $ 1,116,259 530,239 $ 1,445,809 (1,340,327)
Processing and Storage Fees [Member]        
Revenue 7,606,624 7,237,053 22,621,520 19,732,575
Public Banking [Member]        
Revenue 160,561 65,575 529,041 65,575
Licensee and royalty income [Member]        
Revenue 423,173 539,286 625,001 742,445
Product [Member]        
Revenue $ 33,035 $ 29,308 $ 70,795 $ 84,208