Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.24.3
Consolidated Balance Sheets - USD ($)
Aug. 31, 2024
Nov. 30, 2023
Current Assets    
Cash and cash equivalents $ 197,437 $ 406,067
Marketable securities 1,929,458 574,183
Accounts receivable (net of allowance for doubtful accounts of $4,172,151 and $3,822,300, respectively) 6,873,641 6,576,240
Prepaid expenses 512,509 615,407
Inventory, current portion 731,360 768,877
Swap contract 0 122,113
Other current assets 416,479 389,950
Total current assets 10,660,884 9,452,837
Property and Equipment-net 22,117,945 20,996,883
Other Assets    
Intangible assets, net 938,221 989,121
Inventory, net of current portion 5,088,427 5,260,119
Goodwill 1,941,411 1,941,411
Deferred tax assets 20,492,749 20,492,749
Operating lease right-of-use asset 896,790 1,033,157
Deposits and other assets, net 798,046 746,493
Total other assets 30,155,644 30,771,050
Total assets 62,934,473 61,220,770
Current Liabilities    
Accounts payable 2,000,551 3,174,584
Accrued expenses 2,680,573 5,170,809
Note payable 174,587 165,641
Line of credit 2,222,728 1,222,728
Current portion of operating lease liability 383,891 225,686
Duke license agreement liability 133,333 1,200,000
Deferred revenue 9,826,910 9,704,553
Total current liabilities 17,422,573 20,864,001
Other Liabilities    
Deferred revenue, net of current portion 45,198,139 41,186,800
Contingent consideration 48,055 44,226
Note payable, net of current portion and debt issuance costs 8,330,630 8,430,037
Operating lease long-term liability 619,032 851,938
Long-term liability - revenue sharing agreements 875,000 875,000
Total other liabilities 55,070,856 51,388,001
Total liabilities 72,493,429 72,252,002
Commitments and contingencies (Note 9) 0 0
Stockholders' Deficit    
Preferred stock ($.01 par value, 500,000 authorized and none issued and outstanding) 0 0
Common stock ($.01 par value, 20,000,000 authorized; 14,849,619 issued and 8,062,159 outstanding as of August 31, 2024 and 14,848,246 issued and 8,286,785 outstanding as of November 30, 2023) 148,496 148,492
Additional paid-in capital 44,043,576 43,411,143
Treasury stock, at cost (24,855,556) (23,431,685)
Accumulated deficit (28,895,472) (31,159,182)
Total stockholders' deficit (9,558,956) (11,031,232)
Total liabilities and stockholders' deficit 62,934,473 61,220,770
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock ($.01 par value, 500,000 authorized and none issued and outstanding) 0 0
Tianhe Stem Cell Biotechnologies Inc [Member]    
Other Assets    
Investment $ 0 $ 308,000