Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

v3.23.1
Consolidated Statements of Income - USD ($)
3 Months Ended
Feb. 28, 2023
Feb. 28, 2022
Revenue $ 7,824,415 $ 7,258,531
Costs and Expenses:    
Cost of sales 2,067,364 2,103,202
Selling, general and administrative expenses 3,878,903 3,375,954
Change in fair value of contingent consideration (164,701) (116,433)
Research, development and related engineering 78,834 147,220
Depreciation and amortization 280,844 278,166
Total costs and expenses 6,141,244 5,788,109
Operating Income 1,683,171 1,470,422
Other Income (Expense):    
Losses on marketable securities (3,681) (8,642)
Other income 1,268 9
Interest expense (466,231) (306,095)
Total other income (expense) (468,644) (314,728)
Income before income tax expense 1,214,527 1,155,694
Income tax expense (447,715) (323,647)
Net Income $ 766,812 $ 832,047
Net income per common share - basic $ 0.09 $ 0.10
Weighted average common shares outstanding - basic 8,467,074 8,527,031
Net income per common share - diluted $ 0.09 $ 0.10
Weighted average common shares outstanding - diluted 8,474,737 8,748,183
Processing and Storage Fees [Member]    
Revenue $ 7,561,518 $ 7,157,486
Public Banking [Member]    
Revenue 230,697 82,845
Product [Member]    
Revenue $ 32,200 $ 18,200