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

Consolidated Statements of Cash Flows

v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Nov. 30, 2025
Nov. 30, 2025
Nov. 30, 2024
Nov. 30, 2023
Cash flows from operating activities:        
Net (loss) income   $ (2,429,385) $ 402,095  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization expense   985,242 693,847  
Impairment of public inventory $ 4,358,834 4,358,834 0  
Impairment of investment - Tianhe stock   0 308,000  
Loss on sale of property and equipment   48,304 0  
Losses (gains) on marketable securities   806,267 (1,076,051)  
Unrealized gain on interest rate swap contract   0 (105,887)  
Compensatory element of stock options   417,101 781,128  
Provision for doubtful accounts   868,795 1,266,905 $ 868,795
Deferred income tax benefit   (2,818,688) (309,274)  
Amortization of debt issuance costs   20,822 21,237  
Amortization of operating lease right-of-use asset   382,876 327,750  
Changes in assets and liabilities:        
Accounts receivable   (405,881) (1,999,759)  
Prepaid expenses   63,837 (21,648)  
Inventory   56,190 429,178  
Other current assets   (179,387) (64,648)  
Deposits and other assets, net   (99,464) (69,142)  
Accounts payable   1,000,257 (423,720)  
Accrued expenses   (1,531,845) 639,063  
Operating lease liability   (424,701) (245,169)  
Other liabilities   0 2,794  
Deferred revenue   4,359,432 5,454,211  
Net cash from operating activities   5,478,606 6,010,910  
Cash flows from investing activities:        
Purchases of property and equipment   (230,475) (2,403,708)  
Sale of property and equipment   115,000 0  
Payment of Duke license agreement   0 (1,200,000)  
Proceeds from liquidation of marketable securities   0 101,873  
Purchases of marketable securities   (3,647,764) (2,891,423)  
Sale of marketable securities   2,787,907 1,516,359  
Net cash used in investing activities   (975,332) (4,876,899)  
Cash flows used in financing activities:        
Treasury stock purchases   (169,502) (1,423,871)  
Repayments of note payable   (147,575) (136,382)  
Repayment of line of credit   (10,020,000) (2,922,728)  
Proceeds from the exercise of stock options   23,101 76,402  
Proceeds from line of credit   8,800,000 5,220,000  
Dividends paid   (3,231,227) (2,020,539)  
Proceeds from Swap termination   0 228,000  
Net cash used in financing activities   (4,745,203) (979,118)  
(Decrease) increase in cash and cash equivalents   (241,929) 154,893  
Cash and cash equivalents - beginning of period   560,960 406,067  
Cash and cash equivalents - end of period $ 319,031 319,031 560,960 $ 406,067
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   2,029,012 1,976,808  
Income taxes   $ 4,594,638 $ 2,716,993