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Investment In Saneron CCEL Therapeutics, Inc. ("Saneron")
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3 Months Ended |
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Feb. 29, 2012
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| Investment In Saneron CCEL Therapeutics, Inc. ("Saneron") [Abstract] | |
| Investment In Saneron CCEL Therapeutics, Inc. ("Saneron") |
Note 3 – Investment in Saneron CCEL Therapeutics, Inc. ("Saneron") As of February 29, 2012 and November 30, 2011, the Company had an ownership interest of approximately 34% in Saneron, which is accounted for under the equity method of accounting. During 2006, the Company ceased recording its share of Saneron's losses once the investment balance was written down to the total amount of goodwill, as goodwill should not be amortized. As of February 29, 2012 and November 30, 2011, the net Saneron investment, which represents goodwill, is reflected on the consolidated balance sheets at approximately $684,000. As of February 29, 2012 and November 30, 2011, management reviewed the Saneron investment to determine if there were any indicators that would imply that the investment was impaired. Based on management's review, there were no indicators of other than temporary impairment and goodwill was not impaired as of February 29, 2012 and November 30, 2011. For the three months ended February 29, 2012 and February 28, 2011, the Company recorded equity in losses of Saneron operations of approximately $39,000 and $28,000, respectively, related to certain stock awards that were granted by Saneron to certain employees, consultants and members of Saneron management who represent owners of Saneron and serve on its board of directors. The Company will continue to record equity in losses of affiliates related to stock compensation expense as this offsets additional paid-in capital and not the investment balance. As of February 29, 2012 and November 30, 2011, the Company has classified the Company's portion of the value of Company stock held by Saneron of approximately $485,000 within stockholders' equity as treasury stock. In January 2008, the Company announced that it has formalized a research and development agreement with Saneron to develop regenerative therapies utilizing Cryo-Cell's menstrual stem cell technology. Cryo-Cell and Saneron collaborate on research in pre-clinical models for certain neurological diseases and disorders. Under terms of the agreement, the Company provides Saneron with menstrual stem cells along with proprietary methodology associated with the technology. Saneron provides study materials and develops the research methodology for potential therapeutic applications associated with designated pre-clinical applications. Intellectual property resulting from this research collaboration will be jointly owned by the parties. |