Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Aug. 31, 2014
Nov. 30, 2013
Current Assets    
Cash and cash equivalents $ 3,448,977 $ 3,925,156
Restricted cash 204,085 968,130
Marketable securities 122,663 37,910
Accounts receivable (net of allowance for doubtful accounts of $1,839,938 and $1,994,575, respectively ) 3,950,622 3,336,460
Note receivable 0 550,782
Prepaid expenses and other current assets 539,924 644,969
Total current assets 8,266,271 9,463,407
Property and Equipment - net 1,015,908 1,207,279
Other Assets    
Investment in Saneron CCEL Therapeutics, Inc. 758,764 684,000
Deposits and other assets, net 65,678 146,116
Total other assets 824,442 830,116
Total assets 10,106,621 11,500,802
Current Liabilities    
Accounts payable 1,038,519 1,194,825
Accrued expenses 1,143,235 1,800,811
Deferred revenue 6,621,864 6,814,797
Total current liabilities 8,803,618 9,810,433
Other Liabilities    
Deferred revenue, net of current portion 9,222,798 8,658,354
Long-term liability - revenue sharing agreements 2,300,000 2,300,000
Total other liabilities 11,522,798 10,958,354
Commitments and Contingencies (Note 7)      
Stockholders' Deficit    
Preferred stock ($.01 par value, 500,000 authorized and none issued) 0 0
Common stock ($.01 par value, 20,000,000 authorized; 11,916,286 issued and 9,821,169 outstanding as of August 31, 2014 and 11,870,040 issued and 10,743,225 outstanding as of November 30, 2013) 119,163 118,700
Additional paid-in capital 27,676,761 27,265,340
Treasury stock, at cost (4,736,219) (2,926,123)
Accumulated deficit (33,279,500) (33,725,902)
Total stockholders' deficit (10,219,795) (9,267,985)
Total liabilities and stockholders' deficit $ 10,106,621 $ 11,500,802