Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.19.3
Consolidated Statements of Cash Flows
 9 Months Ended
Aug. 31, 2019
USD ($)
Aug. 31, 2018
USD ($)
Cash flows from operating activities:    
Net income (loss) $ 1,445,809 $ (1,745,582)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 304,463 214,275
Impairment of public inventory 2,332,763  
Loss on disposal of property and equipment   153,756
Change in fair value of contingent consideration (636,278)  
Compensatory element of stock options 239,983 323,798
Provision for doubtful accounts 587,716 539,365
Deferred income tax expense   3,117,263
Amortization of debt issuance costs 86,014 79,876
Changes in assets and liabilities:    
Accounts receivable (608,537) (805,183)
Prepaid expenses (64,473) (156,022)
Inventory 25,265 182,466
Other current assets (5,506) (3,066)
Deposits and other assets, net 30,832  
Accounts payable (248,616) (808,839)
Accrued expenses (1,311,841) (99,555)
Deferred revenue 2,991,800 3,496,790
Net cash provided by operating activities 5,124,394 4,489,342
Cash flows used in investing activities:    
Purchases of property and equipment (507,339) (408,297)
Purchase of intangible asset   (200,000)
Sales (purchases) of marketable securities and other investments, net 998 (105,186)
Purchase of Cord Use   (10,500,000)
Net cash used in investing activities (506,341) (11,213,483)
Cash flows from financing activities:    
Repayments of note payable (3,324,997) (1,516,666)
Proceeds from the exercise of stock options 5,700 170,925
Proceeds from note payable   9,000,000
Issuance costs associated with the proceeds from the note payable   (169,300)
Net cash (used in) provided by financing activities (3,319,297) 7,484,959
Increase in cash and cash equivalents 1,298,756 760,818
Cash and cash equivalents—beginning of period 6,040,033 6,279,154
Cash and cash equivalents—end of period 7,338,789 7,039,972
Supplemental non-cash investing activities:    
Unrealized gain on marketable securities, net of tax   405,255
Cumulative-effect adjustment due to the adoption of ASU 2016-01 $ (340,984)  
Assets acquired and liabilities assumed in acquisitions:    
Assets acquired in acquisition   20,103,661
Liabilities assumed in acquisition   $ 1,405,406