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Related Party Transactions
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12 Months Ended |
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Nov. 30, 2011
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| Related Party Transactions [Abstract] | |
| Related Party Transactions |
NOTE 17 – RELATED PARTY TRANSACTIONS David Portnoy, the Company's Chairman and Co-Chief Executive officer, is the brother of the Company's Co-Executive Officer Mark Portnoy. The Company's Audit Committee Chairman, Harold Berger, provides accounting services to the Company's Co-Chief Executive Officer Mark Portnoy.
During the year ended November 30, 2011, the Company reimbursed Focus Financial Group approximately $349,506 related to the reimbursement of the Portnoy Group of its costs associated with the litigation resulting from the 2007 Annual Meeting and the 2011 Annual Meeting's proxy contest. David Portnoy is the chairman of Focus Financial, an investment banking firm. During the year ended November 30, 2011, the Company engaged PartnerCommunity, Inc. for IT consulting services. During the year, the Company paid PartnerCommunity, Inc. $6,759 which is reflected in marketing, general and administrative expenses in the accompanying statement of operations. David Portnoy is the chairman of the board and secretary of PartnerCommunity, Inc., a Florida corporation that provides software and hardware integration solutions to telecommunication companies, including AT&T and Verizon. |