Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Nov. 30, 2019
Nov. 30, 2018
Current Assets    
Cash and cash equivalents $ 6,541,037 $ 6,040,033
Marketable securities 904,053 875,689
Accounts receivable (net of allowance for doubtful accounts of $2,584,091 and $2,264,848, respectively) 6,097,331 5,867,335
Prepaid expenses 500,260 461,815
Inventory, current portion 1,084,533 1,260,557
Other current assets 260,397 254,465
Total current assets 15,387,611 14,759,894
Property and Equipment-net 1,846,467 1,493,401
Other Assets    
Intangible assets, net 1,249,254 1,341,336
Inventory, net of current portion 12,646,000 14,775,316
Goodwill 1,941,411 1,941,411
Deferred tax assets 9,079,994 7,656,897
Deposits and other assets, net 427,423 113,888
Total other assets 25,652,082 26,136,848
Total assets 42,886,160 42,390,143
Current Liabilities    
Accounts payable 1,369,111 1,261,653
Accrued expenses 2,085,180 2,702,788
Current portion of note payable 3,100,000 3,100,000
Deferred revenue 8,875,138 8,365,284
Total current liabilities 15,429,429 15,429,725
Other Liabilities    
Deferred revenue, net of current portion 23,633,373 20,317,231
Contingent Consideration 3,495,057 4,282,975
Note payable, net of current portion and debt issuance costs 5,856,152 9,843,510
Long-term liability - revenue sharing agreements 1,425,000 1,425,000
Total other liabilities 34,409,582 35,868,716
Total liabilities 49,839,011 51,298,441
Commitments and contingencies (Note 13)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 13,598,909 issued and 7,510,884 outstanding as of November 30, 2019 and 13,596,409 issued and 7,800,833 outstanding as of November 30, 2018) 135,989 135,964
Additional paid-in capital 35,918,827 35,515,382
Treasury stock, at cost (20,563,357) (19,571,113)
Accumulated other comprehensive income   340,984
Accumulated deficit (22,444,310) (25,329,515)
Total stockholders' deficit (6,952,851) (8,908,298)
Total liabilities and stockholders' deficit 42,886,160 42,390,143
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock
Tianhe Stem Cell Biotechnologies Inc [Member]    
Other Assets    
Investment $ 308,000 $ 308,000