Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Feb. 29, 2016
Nov. 30, 2015
Current Assets    
Cash and cash equivalents $ 3,581,736 $ 4,152,162
Restricted cash 204,400 204,344
Marketable securities 617,108 610,424
Accounts receivable (net of allowance for doubtful accounts of $2,156,577 and $2,067,130, respectively) 3,216,990 3,058,379
Deferred tax assets, current portion 1,336,000 1,336,000
Prepaid expenses 429,309 427,819
Inventory, net 498,524 475,608
Other current assets 58,341 88,392
Total current assets 9,942,408 10,353,128
Property and Equipment-net 847,626 879,070
Other Assets    
Intangible assets, net 503,877 516,328
Goodwill 1,777,822 1,777,822
Deferred tax assets, net of current portion 5,987,814 5,930,987
Deposits and other assets, net 40,611 40,611
Total other assets 8,310,124 8,265,748
Total assets 19,100,158 19,497,946
Current Liabilities    
Accounts payable 1,685,775 1,328,619
Accrued expenses 1,566,676 2,005,351
Current portion of note payable 309,987 307,420
Deferred revenue 6,614,192 6,782,562
Total current liabilities 10,176,630 10,423,952
Other Liabilities    
Deferred revenue, net of current portion 11,169,495 10,869,218
Note payable, net of current portion 790,957 868,947
Long-term liability - revenue sharing agreements 2,300,000 2,300,000
Total other liabilities 14,260,452 14,038,165
Total liabilities $ 24,437,082 $ 24,462,117
Commitments and contingencies (Note 12)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 12,481,065 issued and 9,097,472 outstanding as of February 29, 2016 and 12,260,340 issued and 9,010,322 outstanding as of November 30, 2015) $ 124,810 $ 122,603
Additional paid-in capital 28,780,474 28,530,368
Treasury stock, at cost (8,726,486) (8,318,083)
Accumulated other comprehensive income 76,205 169,932
Accumulated deficit (25,591,927) (25,468,991)
Total stockholders' deficit (5,336,924) (4,964,171)
Total liabilities and stockholders' deficit $ 19,100,158 $ 19,497,946
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock