Annual report pursuant to Section 13 and 15(d)


12 Months Ended
Nov. 30, 2019
Inventory Disclosure [Abstract]  
Note 3 – Inventory
Inventory is comprised of public cord blood banking specimens, collection kits, finished goods,
and raw materials. Collection kits are used in the collection and processing of umbilical cord blood and cord tissue stem cells, finished goods include products purchased or assumed for resale and for the use in the Company’s processing and storage service. Inventory in the Public Cord Blood Bank includes finished goods that are specimens that are available for resale. The Company considers inventory in the Public Cord Blood Bank that has not completed all testing to determine viability to be work in process. Due to changes in sales trends and estimated recoverability of cost capitalized into inventory, an impairment charge of $2,332,763 was recognized during the second quarter of fiscal 2019 to reduce inventory from cost to net realizable value and is included in the accompanying consolidated statements of comprehensive income (loss).
The components of inventory at November 30, 2019 and November 30, 2018 are as follows:
     As of 
November 30,
     As of 
November 30,
Raw materials
   $      $ —    
     149,972        188,085  
– Public Bank
Finished goods
     52,451        5,262  
Finished goods – Public Bank
     13,491,375        15,831,081  
Collection kits
     44,453        19,163  
Inventory reserve
     (7,718      (7,718
Total inventory
   $ 13,730,533      $ 16,035,873