Quarterly report pursuant to Section 13 or 15(d)


6 Months Ended
May 31, 2020
Inventory Disclosure [Abstract]  
Note 4 – 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. The components of inventory at May 31, 2020 and November 30, 2019 are as follows:
     May 31, 2020      November 30, 2019  
Raw materials
   $ —        $ —    
     124,010        149,972  
– Public Bank
     —          —    
Finished goods
     1,359        52,451  
Finished goods – Public Bank
     13,270,528        13,491,375  
Collection kits
     48,592        44,453  
Inventory reserve
     (7,718      (7,718
Total inventory
   $ 13,436,771      $ 13,730,533