Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
May 31, 2012
Nov. 30, 2011
Current Assets    
Cash and cash equivalents $ 2,801,757 $ 6,305,095
Restricted cash 2,650,633 2,700,000
Marketable securities and other investments   1,002,000
Accounts receivable (net of allowance for doubtful accounts of $1,016,406 and $942,533, respectively) 3,292,413 3,059,126
Deferred tax assets   209,919
Prepaid expenses and other current assets 839,314 777,284
Total current assets 9,584,117 14,053,424
Property and Equipment-net 1,448,587 1,540,239
Other Assets    
Marketable securities and other investments 13,380 6,404
Investment in Saneron CCEL Therapeutics, Inc. 684,000 684,000
Long-term note receivable, net 836,083 1,115,423
Deposits and other assets 561,706 558,254
Deferred tax assets, less current portion   1,509,000
Total other assets 2,095,169 3,873,081
Total assets 13,127,873 19,466,744
Current Liabilities    
Accounts payable 1,181,218 1,005,240
Accrued expenses 2,287,999 2,316,875
Short-term liability - revenue sharing agreement   900,000
Short-term deferred consulting obligation 13,772 72,183
Deferred revenue 6,320,649 6,269,148
Total current liabilities 9,803,638 10,563,446
Other Liabilities    
Deferred revenue, net of current portion 8,350,781 8,513,686
Long-term liability - revenue sharing agreements 2,650,000 2,850,000
Total other liabilities 11,000,781 11,363,686
Commitments and Contingencies      
Stockholders' Deficit    
Preferred stock ($.01 par value, 500,000 authorized and none issued)      
Common stock ($.01 par value, 20,000,000 authorized; 11,860,040 issued and 11,185,661 outstanding as of May 31, 2012 and 11,853,227 issued and outstanding as of November 30, 2011) 118,600 118,532
Additional paid-in capital 26,441,721 25,350,483
Treasury stock, at cost (1,885,006) (484,535)
Accumulated deficit (32,351,861) (27,444,868)
Total stockholders' deficit (7,676,546) (2,460,388)
Total liabilities and stockholders' deficit $ 13,127,873 $ 19,466,744