Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
Nov. 30, 2025
Nov. 30, 2024
Current Assets    
Cash and cash equivalents $ 319,031 $ 560,960
Marketable securities 2,977,013 2,935,183
Accounts receivable (net of allowance for doubtful accounts of $4,306,410 and $4,266,405, respectively) 6,846,180 7,309,094
Prepaid expenses 573,218 637,055
Inventory, current portion 408,794 657,703
Other current assets 633,985 454,598
Total current assets 11,758,221 12,554,593
Property and Equipment-net 21,034,372 21,894,263
Other Assets    
Intangible assets, net 863,074 921,254
Inventory, net of current portion 776,000 4,942,115
Goodwill 1,941,411 1,941,411
Deferred tax assets 23,620,711 20,802,023
Operating lease right-of-use asset 819,626 806,339
Deposits and other assets, net 915,099 815,635
Total other assets 28,935,921 30,228,777
Total assets 61,728,514 64,677,633
Current Liabilities    
Accounts payable 2,870,771 1,882,274
Accrued expenses 4,278,027 5,809,872
Note payable 183,650 170,488
Line of credit 2,300,000 3,520,000
Current portion of operating lease liability 430,221 428,334
Deferred revenue 9,730,318 9,788,574
Total current liabilities 19,792,987 21,599,542
Other Liabilities    
Deferred revenue, net of current portion 50,974,678 46,556,990
Note payable, net of current portion and debt issuance costs 8,170,130 8,310,045
Operating lease long-term liability 474,628 505,053
Long-term liability - revenue sharing agreements 875,000 875,000
Other liabilities 47,020 47,020
Total other liabilities 60,541,456 56,294,108
Total liabilities 80,334,443 77,893,650
Commitments and contingencies (Note 12) 0 0
Stockholders' Deficit    
Preferred stock 0 0
Common stock ($.01 par value, 20,000,000 authorized; 14,877,119 issued and 8,055,150 outstanding as of November 30, 2025 and 14,869,619 issued and 8,082,159 outstanding as of November 30, 2024) 148,771 148,696
Additional paid-in capital 44,708,596 44,268,469
Treasury stock, at cost (25,025,058) (24,855,556)
Accumulated deficit (38,438,238) (32,777,626)
Total stockholders' deficit (18,605,929) (13,216,017)
Total liabilities and stockholders' deficit 61,728,514 64,677,633
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock $ 0 $ 0