Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Aug. 31, 2016
Nov. 30, 2015
Current Assets    
Cash and cash equivalents $ 2,026,199 $ 4,152,162
Restricted cash   204,344
Marketable securities 630,023 610,424
Accounts receivable (net of allowance for doubtful accounts of $2,289,644 and $2,067,130, respectively) 4,381,110 3,058,379
Deferred tax assets, current portion 2,178,000 1,336,000
Prepaid expenses 472,146 427,819
Inventory, net 410,885 475,608
Other current assets 46,838 88,392
Total current assets 10,145,201 10,353,128
Property and Equipment-net 993,409 879,070
Other Assets    
Intangible assets, net 266,809 516,328
Goodwill 111,392 1,777,822
Deferred tax assets, net of current portion 5,999,974 5,930,987
Deposits and other assets, net 25,500 40,611
Total other assets 6,403,675 8,265,748
Total assets 17,542,285 19,497,946
Current Liabilities    
Accounts payable 1,605,411 1,328,619
Accrued expenses 1,719,313 2,005,351
Current portion of note payable 2,000,000 307,420
Deferred revenue 7,086,515 6,782,562
Total current liabilities 12,411,239 10,423,952
Other Liabilities    
Deferred revenue, net of current portion 12,071,215 10,869,218
Note payable, net of current portion 8,650,100 868,947
Long-term liability - revenue sharing agreements 1,425,000 2,300,000
Total other liabilities 22,146,315 14,038,165
Total liabilities 34,557,554 24,462,117
Commitments and contingencies (Note 12)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 12,504,464 issued and 6,825,413 outstanding as of August 31, 2016 and 12,260,340 issued and 9,010,322 outstanding as of November 30, 2015) 125,044 122,603
Additional paid-in capital 29,389,683 28,530,368
Treasury stock, at cost (18,986,430) (8,318,083)
Accumulated other comprehensive income 55,590 169,932
Accumulated deficit (27,599,156) (25,468,991)
Total stockholders' deficit (17,015,269) (4,964,171)
Total liabilities and stockholders' deficit 17,542,285 19,497,946
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock