| Schedule of Assets and Liabilities from Contracts With Customers |
The following table provides information about assets and liabilities from contracts with customers:
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|
November 30, 2025 |
|
|
November 30, 2024 |
|
Contract assets (sales commissions) |
|
$ |
855,142 |
|
|
$ |
775,147 |
|
Accounts receivable |
|
$ |
6,846,180 |
|
|
$ |
7,309,094 |
|
Short-term contract liabilities (deferred revenue) |
|
$ |
9,730,318 |
|
|
$ |
9,788,574 |
|
Long-term contract liabilities (deferred revenue) |
|
$ |
50,974,678 |
|
|
$ |
46,556,990 |
|
The following table presents changes in the Company’s contract assets and liabilities during the twelve months ended November 30, 2025:
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|
|
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|
|
|
|
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Balance at
December 1,
2024 |
|
|
Additions |
|
|
Deductions |
|
|
Balance at
November 30,
2025 |
|
Contract assets (sales commissions) |
|
$ |
775,147 |
|
|
$ |
124,099 |
|
|
$ |
(44,104 |
) |
|
$ |
855,142 |
|
Accounts receivable |
|
$ |
7,309,094 |
|
|
$ |
40,464,367 |
|
|
$ |
(40,927,281 |
) |
|
$ |
6,846,180 |
|
Contract liabilities (deferred revenue) |
|
$ |
56,345,564 |
|
|
$ |
31,593,132 |
|
|
$ |
(27,233,700 |
) |
|
$ |
60,704,996 |
|
The following table presents changes in the Company’s contract assets and liabilities during the twelve months ended November 30, 2024:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at
December 1,
2023 |
|
|
Additions |
|
|
Deductions |
|
|
Balance at
November 30, 2024 |
|
Contract assets (sales commissions) |
|
$ |
695,695 |
|
|
$ |
118,498 |
|
|
$ |
(39,046 |
) |
|
$ |
775,147 |
|
Accounts receivable |
|
$ |
6,576,240 |
|
|
$ |
42,735,527 |
|
|
$ |
(42,002,673 |
) |
|
$ |
7,309,094 |
|
Contract liabilities (deferred revenue) |
|
$ |
50,891,353 |
|
|
$ |
21,665,729 |
|
|
$ |
(16,211,518 |
) |
|
$ |
56,345,564 |
|
|
|
| Financial Assets and Liabilities Measured at Fair Value on Recurring Basis |
|
The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of November 30, 2025 and November 30, 2024, respectively, segregated among the appropriate levels within the fair value hierarchy:
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|
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|
Fair Value at |
|
|
Fair Value Measurements at November 30, 2025 Using |
|
Description |
|
November 30, 2025 |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Marketable securities |
|
$ |
2,977,013 |
|
|
$ |
2,977,013 |
|
|
$ |
— |
|
|
$ |
— |
|
Total |
|
$ |
2,977,013 |
|
|
$ |
2,977,013 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value at |
|
|
Fair Value Measurements at November 30, 2024 Using |
|
Description |
|
November 30, 2024 |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Marketable securities |
|
$ |
2,935,183 |
|
|
$ |
2,935,183 |
|
|
$ |
— |
|
|
$ |
— |
|
Total |
|
$ |
2,935,183 |
|
|
$ |
2,935,183 |
|
|
$ |
— |
|
|
$ |
— |
|
|
| Calculation of Basic and Diluted Net (Loss) Income per Common Share |
The composition of basic and diluted net (loss) income per share is as follows:
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|
Twelve Months Ended |
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|
|
|
November 30, 2025 |
|
|
November 30, 2024 |
|
Numerator: |
|
|
|
|
|
|
|
Net income |
|
|
$ |
(2,429,385 |
) |
|
$ |
402,095 |
|
Denominator: |
|
|
|
|
|
|
|
Weighted-average shares outstanding-basic |
|
|
|
8,068,777 |
|
|
|
8,130,676 |
|
Dilutive common shares issuable upon exercise of
stock options |
|
|
|
— |
|
|
|
81,834 |
|
Weighted-average shares-diluted |
|
|
|
8,068,777 |
|
|
|
8,212,510 |
|
Income per share: |
|
|
|
|
|
|
|
Basic |
|
|
$ |
(0.30 |
) |
|
$ |
0.05 |
|
Diluted |
|
|
$ |
(0.30 |
) |
|
$ |
0.05 |
|
|
|