Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Aug. 31, 2013
Nov. 30, 2012
Current Assets    
Cash and cash equivalents $ 3,727,735 $ 2,677,382
Restricted cash 1,420,814 2,576,844
Accounts receivable (net of allowance for doubtful accounts of $1,927,225 and $1,367,465, respectively) 3,577,637 3,401,597
Prepaid expenses and other current assets 522,460 659,179
Total current assets 9,248,646 9,315,002
Property and Equipment-net 1,190,219 1,281,075
Other Assets    
Marketable securities and other investments 32,140 13,660
Investment in Saneron CCEL Therapeutics, Inc. 684,000 684,000
Long-term note receivable, net of current portion 110,996 550,697
Deposits and other assets, net 99,011 486,225
Total other assets 926,147 1,734,582
Total assets 11,365,012 12,330,659
Current Liabilities    
Accounts payable 1,244,902 1,209,973
Accrued expenses 1,684,871 2,917,758
Deferred revenue 6,753,896 6,536,160
Total current liabilities 9,683,669 10,663,891
Other Liabilities    
Deferred revenue, net of current portion 8,500,790 8,364,533
Long-term liability - revenue sharing agreements 2,300,000 2,300,000
Total other liabilities 10,800,790 10,664,533
Commitments and Contingencies (Note 7)      
Stockholders' Deficit    
Preferred stock ($.01 par value, 500,000 authorized and none issued)      
Common stock ($.01 par value, 20,000,000 authorized; 11,870,040 issued and 10,775,275 outstanding as of August 31, 2013 and 11,860,040 issued and 11,067,666 outstanding as of November 30, 2012) 118,700 118,600
Additional paid-in capital 27,179,980 26,824,478
Treasury stock, at cost (2,859,571) (2,187,505)
Accumulated deficit (33,558,556) (33,753,338)
Total stockholders' deficit (9,119,447) (8,997,765)
Total liabilities and stockholders' deficit $ 11,365,012 $ 12,330,659