Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
May 31, 2022
Nov. 30, 2021
Current Assets    
Cash and cash equivalents $ 2,804,452 $ 8,263,088
Marketable securities 63,125 75,412
Accounts receivable (net of allowance for doubtful accounts of $3,233,575 and $3,078,439, respectively) 5,150,154 5,253,173
Prepaid expenses 569,630 558,413
Inventory, current portion 873,157 921,213
Other current assets 844,774 711,208
Total current assets 10,305,292 15,782,507
Property and Equipment-net 4,027,969 3,230,204
Other Assets    
Duke license agreement 14,171,415 14,651,802
Intangible assets, net 1,511,502 1,559,693
Inventory, net of current portion 9,552,616 9,695,363
Goodwill 1,941,411 1,941,411
Deferred tax assets 12,010,133 12,010,133
Operating lease right-of-use asset 762,617 916,493
Deposits and other assets, net 803,991 566,470
Total other assets 41,061,685 41,649,365
Total assets 55,394,946 60,662,076
Current Liabilities    
Accounts payable 1,722,552 1,489,774
Accrued expenses 2,074,987 3,057,386
Note payable 357,842 1,898,065
Current portion of operating lease liability 315,042 312,067
Current portion of Duke license agreement liability 1,949,539 4,957,591
Deferred revenue 9,291,530 9,358,696
Total current liabilities 15,711,492 21,073,579
Other Liabilities    
Deferred revenue, net of current portion 33,372,659 31,274,214
Contingent consideration 574,833 727,371
Operating lease long-term liability 453,979 610,989
Long-term liability - revenue sharing agreements 875,000 875,000
Total other liabilities 35,276,471 35,404,183
Total liabilities 50,987,963 56,477,762
Commitments and contingencies (Note 9) 0 0
Stockholders' equity    
Preferred stock 0 0
Common stock ($.01 par value, 20,000,000 authorized; 14,675,772 issued and 8,399,490 outstanding as of May 31, 2022 and 14,665,772 issued and 8,551,816 outstanding as of November 30, 2021) 146,758 146,658
Additional paid-in capital 41,767,841 41,586,583
Treasury stock, at cost (22,238,189) (20,812,734)
Accumulated deficit (15,269,427) (16,736,193)
Total stockholders' equity 4,406,983 4,184,314
Total liabilities and stockholders' equity 55,394,946 60,662,076
Series A Junior Participating Preferred Stock [Member]    
Stockholders' equity    
Preferred stock 0 0
Tianhe Stem Cell Biotechnologies Inc [Member]    
Other Assets    
Investment $ 308,000 308,000
Duke University [Member]    
Other Liabilities    
Duke license agreement liability   $ 1,916,609