Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.3
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Aug. 31, 2025
Aug. 31, 2024
Cash flows from operating activities:    
Net income $ 1,388,048 $ 2,263,710
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 742,231 444,850
Impairment of investment - Tianhe stock 0 308,000
Loss on sale of property and equipment 48,304 0
Losses (gains) on marketable securities 604,619 (1,056,052)
Unrealized gain on interest rate swap contract 0 (105,887)
Compensatory element of stock options 374,198 631,435
Provision for doubtful accounts 780,197 918,488
Amortization of debt issuance costs 15,657 15,967
Amortization of operating lease right-of-use asset 295,654 237,299
Changes in assets and liabilities:    
Accounts receivable (304,483) (1,215,889)
Prepaid expenses 19,125 102,898
Inventory 79,730 209,209
Other current assets 109,604 (26,529)
Deposits and other assets, net (92,144) (51,553)
Accounts payable 741,407 (293,685)
Accrued expenses (3,525,297) (2,490,236)
Operating lease liability (317,744) (175,633)
Other liabilities 0 3,829
Deferred revenue 3,238,687 4,133,696
Net cash from operating activities 4,197,793 3,853,917
Cash flows from investing activities:    
Purchases of property and equipment (163,249) (2,395,360)
Sale of property and equipment 115,000 0
Payment of Duke license agreement 0 (1,066,667)
Proceeds from liquidation of marketable securities 0 101,873
Purchases of marketable securities (3,160,145) (1,759,828)
Sale of marketable securities 2,522,711 1,358,732
Net cash used in investing activities (685,683) (3,761,250)
Cash flows used in financing activities:    
Treasury stock purchases (169,502) (1,423,871)
Repayments of note payable (110,235) (106,428)
Repayment of line of credit (7,120,000) (2,200,000)
Proceeds from the exercise of stock options 23,101 1,002
Proceeds from line of credit 6,800,000 3,200,000
Dividends paid (3,231,227) 0
Proceeds from Swap termination 0 228,000
Net cash used in financing activities (3,807,863) (301,297)
Decrease in cash and cash equivalents (295,753) (208,630)
Cash and cash equivalents - beginning of period 560,960 406,067
Cash and cash equivalents - end of period 265,207 197,437
Supplemental non cash operating activities    
Lease liability arising from right-of-use asset 396,163 100,932
Supplemental investing activities:    
Construction costs payable 0 (880,348)
Supplemental cash flow information    
Interest 1,533,485 1,482,909
Income taxes $ 2,833,737 $ 2,385,096