Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
May 31, 2014
Nov. 30, 2013
Current Assets    
Cash and cash equivalents $ 3,403,716 $ 3,925,156
Restricted cash 204,032 968,130
Marketable securities and other investments 140,560 37,910
Accounts receivable (net of allowance for doubtful accounts of $1,934,304 and $1,994,575, respectively) 4,095,710 3,336,460
Note receivable 0 550,782
Prepaid expenses and other current assets 575,834 644,969
Total current assets 8,419,852 9,463,407
Property and Equipment-net 1,090,831 1,207,279
Other Assets    
Investment in Saneron CCEL Therapeutics, Inc. 684,000 684,000
Deposits and other assets, net 71,144 146,116
Total other assets 755,144 830,116
Total assets 10,265,827 11,500,802
Current Liabilities    
Accounts payable 1,160,024 1,194,825
Accrued expenses 1,220,637 1,800,811
Deferred revenue 6,405,134 6,814,797
Total current liabilities 8,785,795 9,810,433
Other Liabilities    
Deferred revenue, net of current portion 8,908,751 8,658,354
Long-term liability - revenue sharing agreements 2,300,000 2,300,000
Total other liabilities 11,208,751 10,958,354
Commitments and Contingencies      
Stockholders' Deficit    
Preferred stock ($.01 par value, 500,000 authorized and none issued) 0 0
Common stock ($.01 par value, 20,000,000 authorized; 11,902,536 issued and 10,139,190 outstanding as of May 31, 2014 and 11,870,040 issued and 10,743,225 outstanding as of November 30, 2013) 119,025 118,700
Additional paid-in capital 27,598,674 27,265,340
Treasury stock, at cost (4,333,401) (2,926,123)
Accumulated deficit (33,113,017) (33,725,902)
Total stockholders' deficit (9,728,719) (9,267,985)
Total liabilities and stockholders' deficit $ 10,265,827 $ 11,500,802