Annual report pursuant to Section 13 and 15(d)

Acquisition (Tables)

v3.19.3.a.u2
Acquisition (Tables)
 12 Months Ended
Nov. 30, 2019
Business Combinations [Abstract]  
Summary of Fair Value of Consideration
The following summarizes the fair value of the consideration of the Acquisition as of the purchase date:
 
Consideration
       
Cash
    $ 10,500,000  
Cryo-Cell common stock
      3,500,000  
Cord blood inventory earnout
      4,698,255  
  
 
 
  
Consideration
    $ 18,698,255  
  
 
 
  
Summary of Preliminary Allocation of Total Purchase Price
The following summarizes the allocation of the total purchase price for the Acquisition:
 
Accounts receivable
    $ 188,019  
Inventory
      16,037,957  
Prepaid expenses
      68,867  
Property and equipment
      568,407  
Other asset—Tianhe capital stock
      308,000  
Brand
      31,000  
Customer relationships
      960,000  
  
 
 
  
Total identifiable net assets acquired
      18,162,250  
  
 
 
  
Less: Deferred revenue
      (1,405,406 ) 
  
 
 
  
Goodwill
      1,941,411  
  
 
 
  
Total
    $ 18,698,255  
  
 
 
  
Schedule of Unaudited Pro Forma Results
The following table provides the Company’s consolidated unaudited pro forma revenues, net income per basic and diluted common share had the results of the acquired businesses’ operations been included in its operations commencing on December 1, 2016, based on available information related to the respective operations. This proforma information presented is not necessarily indicative either of the combined results of operations that actually would have been realized by the Company had the acquisition been consummated at the beginning of the period for which the pro forma information is presented, or of future results, and does not account for any operation improvements to be made by the Company post-acquisition.
 
     Twelve months ended
November 30, 2018		  
Revenue
    $ 31,388,278  
Net income (loss)
    ($ 2,658,679 ) 
Earnings (loss) per share:
   
Basic
    ($ 0.36 ) 
Diluted
    ($ 0.36 )