Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Feb. 28, 2025
Feb. 29, 2024
Cash flows from operating activities:    
Net income $ 282,855 $ 556,241
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 248,010 86,047
Losses (gains) on marketable securities 31,401 (274,971)
Unrealized loss on interest rate swap contract 0 45,288
Compensatory element of stock options 297,392 307,355
Provision for doubtful accounts 271,207 288,760
Amortization of debt issuance costs 5,246 5,348
Amortization of operating lease right-of-use asset 91,986 75,135
Changes in assets and liabilities:    
Accounts receivable (174,098) (439,413)
Prepaid expenses (13,892) 80,112
Inventory (34,577) 49,856
Other current assets 18,359 11,640
Deposits and other assets, net (65,096) (10,616)
Accounts payable 735,107 (931,007)
Accrued expenses (1,473,052) (1,253,911)
Operating lease liability (94,564) (54,682)
Other liabilities 0 (5,176)
Deferred revenue 827,779 1,107,129
Net cash from (used in) operating activities 954,063 (356,865)
Cash flows from investing activities:    
Purchases of property and equipment (62,053) (457,722)
Purchases of marketable securities (599,611) (743,811)
Sale of marketable securities 374,180 860,484
Net cash used in investing activities (287,484) (341,049)
Cash flows used in financing activities:    
Treasury stock purchases 0 (170,376)
Repayments of note payable (33,878) (40,665)
Repayment of line of credit (1,750,000) (200,000)
Proceeds from line of credit 2,800,000 950,000
Dividends paid (2,020,539) 0
Net cash (used in) provided by financing activities (1,004,417) 538,959
Decrease in cash and cash equivalents (337,838) (158,955)
Cash and cash equivalents - beginning of period 560,960 406,067
Cash and cash equivalents - end of period 223,122 247,112
Supplemental investing activities:    
Construction costs payable 0 219,748
Duke license agreement payable 0 533,333
Supplemental cash flow information:    
Interest 485,413 443,829
Income taxes $ 0 $ 57,630