Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended
May 31, 2014
May 31, 2013
Cash flows from operating activities:    
Net income $ 612,885 $ 348
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 191,675 206,103
Abandonment of patents 25,649 378,837
Loss on sale of property and equipment 0 44,428
Compensatory element of stock options 207,843 161,841
Provision for doubtful accounts 374,966 223,786
Equity in losses of affiliate 189,651 76,900
Changes in assets and liabilities:    
Accounts receivable (1,134,216) (98,631)
Notes receivable 550,782 0
Prepaid expenses and other current assets 69,135 57,237
Deposits and other assets, net 47,628 13,000
Accounts payable (34,801) 67,544
Accrued expenses (580,174) (96,550)
Deferred revenue (159,266) 54,553
Net cash provided by operating activities 361,757 1,089,396
Cash flows from investing activities:    
Release of restricted cash held in escrow 764,098 70,831
Purchases of property and equipment (73,532) (230,369)
Purchases of marketable securities and other investments, net (102,650) (12,110)
Investments in patents 0 (34,525)
Investment in affiliate (112,500) 0
Net cash provided by (used in) investing activities 475,416 (206,173)
Cash flows from financing activities:    
Treasury stock purchases (1,407,278) (667,966)
Proceeds from the exercise of stock options 48,665 11,825
Net cash used in financing activities (1,358,613) (656,141)
(Decrease) increase in cash and cash equivalents (521,440) 227,082
Cash and cash equivalents - beginning of period 3,925,156 2,677,382
Cash and cash equivalents - end of period $ 3,403,716 $ 2,904,464