Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
May 31, 2016
Nov. 30, 2015
Current Assets    
Cash and cash equivalents $ 4,516,162 $ 4,152,162
Restricted cash   204,344
Marketable securities 673,784 610,424
Accounts receivable (net of allowance for doubtful accounts of $2,227,935 and $2,067,130, respectively) 3,701,757 3,058,379
Deferred tax assets, current portion 1,336,000 1,336,000
Prepaid expenses 406,269 427,819
Inventory, net 459,580 475,608
Other current assets 41,012 88,392
Total current assets 11,134,564 10,353,128
Property and Equipment-net 1,049,010 879,070
Other Assets    
Intangible assets, net 490,978 516,328
Goodwill 1,777,822 1,777,822
Deferred tax assets, net of current portion 5,991,454 5,930,987
Deposits and other assets, net 25,500 40,611
Total other assets 8,285,754 8,265,748
Total assets 20,469,328 19,497,946
Current Liabilities    
Accounts payable 1,675,627 1,328,619
Accrued expenses 1,966,309 2,005,351
Current portion of note payable   307,420
Deferred revenue 6,873,858 6,782,562
Total current liabilities 10,515,794 10,423,952
Other Liabilities    
Deferred revenue, net of current portion 11,608,721 10,869,218
Note payable, net of current portion 650,100 868,947
Long-term liability - revenue sharing agreements 2,300,000 2,300,000
Total other liabilities 14,558,821 14,038,165
Total liabilities 25,074,615 24,462,117
Commitments and contingencies (Note 12)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 12,481,065 issued and 9,087,254 outstanding as of May 31, 2016 and 12,260,340 issued and 9,010,322 outstanding as of November 30, 2015) 124,810 122,603
Additional paid-in capital 28,916,276 28,530,368
Treasury stock, at cost (8,761,290) (8,318,083)
Accumulated other comprehensive income 69,712 169,932
Accumulated deficit (24,954,795) (25,468,991)
Total stockholders' deficit (4,605,287) (4,964,171)
Total liabilities and stockholders' deficit 20,469,328 19,497,946
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock