Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Income

v3.25.1
Consolidated Statements of Income - USD ($)
3 Months Ended
Feb. 28, 2025
Feb. 29, 2024
Revenue $ 7,968,880 $ 7,852,235
Costs and Expenses:    
Cost of sales 1,984,588 2,066,371
Selling, general and administrative expenses 4,638,285 4,428,566
Research, development and related engineering 98,143 502,889
Depreciation and amortization 191,853 33,186
Total costs and expenses 6,912,869 7,031,012
Operating Income 1,056,011 821,223
Other Income (Expense):    
(Losses) gains on marketable securities (31,401) 274,971
Loss on interest rate swap 0 (45,288)
Other income 4,070 63
Interest expense (494,962) (256,459)
Total other income (expense) (522,293) (26,713)
Income before income tax expense 533,718 794,510
Income tax expense (250,863) (238,269)
Net income $ 282,855 $ 556,241
Net income per common share - basic $ 0.03 $ 0.07
Weighted average common shares outstanding - basic 8,082,159 8,277,844
Net income per common share - diluted $ 0.03 $ 0.07
Weighted average common shares outstanding - diluted 8,200,022 8,325,027
Processing and Storage Fees [Member]    
Revenue $ 7,865,888 $ 7,805,522
Public Banking Revenue [Member]    
Revenue 82,079 43,713
Product Revenue [Member]    
Revenue $ 20,913 $ 3,000