Quarterly report pursuant to Section 13 or 15(d)

Inventory

v3.3.0.814
Inventory
 9 Months Ended
Aug. 31, 2015
Inventory Disclosure [Abstract]  
Inventory

Note 9 – Inventory

Inventory is comprised of collection kits, finished goods, work-in-process and raw materials. Collection kits are used in the collection and processing of umbilical cord blood and cord tissue stem cells, finished goods include products purchased or assumed for resale and for the use in the Company’s processing and storage service. Inventory purchased pursuant the Asset Purchase Agreement was valued at fair value. Subsequently, inventory is valued at the lower of cost or market using the first-in, first-out (FIFO) method. Inventory has been pledged as collateral on the note payable incurred in connection with the Asset Purchase Agreement (Note 8). The components of inventory at August 31, 2015 and November 30, 2014 are as follows:

 

     As of August 31, 2015      As of November 30, 2014  

Raw materials

    $ 1,751       $ —     

Work-in-process

      70,226         —     

Finished goods

      405,096         —     

Collection kits

      62,020         63,742   
  

 

 

     

 

 

  

Total inventory

    $ 539,093       $ 63,742