Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
May 31, 2026
May 31, 2025
Cash flows from operating activities:    
Net income $ 601,694 $ 638,640
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 487,845 498,141
Loss on sale of property and equipment 0 47,671
Losses on marketable securities 168,439 410,733
Compensatory element of stock options 223,453 337,418
Provision for doubtful accounts 534,124 366,586
Amortization of debt issuance costs 10,245 10,465
Amortization of operating lease right-of-use asset 197,683 186,114
Changes in assets and liabilities:    
Accounts receivable (598,023) 11,034
Prepaid expenses 65,471 15,710
Inventory 114,624 58,219
Other current assets 219,594 62,265
Deposits and other assets, net (33,545) (61,694)
Accounts payable (23,667) 370,932
Accrued expenses (1,310,813) (3,136,174)
Operating lease liability (222,297) (203,016)
Deferred revenue 2,062,911 2,048,033
Net cash from operating activities 2,497,738 1,661,077
Cash flows from investing activities:    
Purchases of property and equipment (99,766) (124,461)
Sale of property and equipment 0 115,000
Purchases of marketable securities (656,703) (2,574,249)
Sale of marketable securities 810,612 793,426
Net cash from (used) in investing activities 54,143 (1,790,284)
Cash flows used in financing activities:    
Treasury stock purchases 0 (88,619)
Repayments of note payable (86,860) (74,416)
Repayment of line of credit (3,500,000) (3,700,000)
Proceeds from the exercise of stock options 23,250 0
Proceeds from line of credit 1,200,000 6,800,000
Dividends paid 0 (3,231,227)
Net cash used in financing activities (2,363,610) (294,262)
Increase (Decrease) in cash and cash equivalents 188,271 (423,469)
Cash and cash equivalents - beginning of period 319,031 560,960
Cash and cash equivalents - end of period 507,302 137,491
Supplemental cash flow information:    
Interest 899,859 977,952
Income taxes $ 77,084 $ 2,198,330