Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Aug. 31, 2016
Aug. 31, 2015
Statement of Cash Flows [Abstract]    
Net (loss) income $ (2,130,165) $ 8,325,774
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization expense 222,513 174,964
Impairment of goodwill and intangible assets 1,877,697  
Compensatory element of stock options 821,416 304,585
Provision for doubtful accounts 578,860 149,596
Equity in losses of affiliate   17,660
Gain on extinguishment of debt (300,593)  
Loss on extinguishment of revenue sharing agreements 2,252,388  
Deferred income tax benefit (842,000) (6,956,834)
Changes in assets and liabilities:    
Accounts receivable (1,901,591) (240,369)
Prepaid expenses (44,327) 159,163
Inventory 64,723 53,746
Other current assets 41,554 25,483
Deposits and other assets, net 15,111 10,548
Accounts payable 449,541 455,532
Accrued expenses (186,175) (789,783)
Deferred revenue 1,505,950 1,173,443
Net cash provided by operating activities 2,424,902 2,863,508
Cash flows from investing activities:    
Release of restricted cash held in escrow 204,344 (148)
Purchases of property and equipment (298,600) (54,691)
Purchase of Prepacyte   (212,203)
Purchases of marketable securities and other investments, net (202,928) (214,520)
Net cash used in investing activities (297,184) (481,562)
Cash flows from financing activities:    
Extinguishment of revenue sharing agreements (3,400,000)  
Treasury stock purchases (10,668,347) (2,946,705)
Repayments of note payable (1,009,107) (49,145)
Proceeds from the exercise of stock options 40,340 54,100
Proceeds from note payable 10,783,433  
Net cash used in financing activities (4,253,681) (2,941,750)
Decrease in cash and cash equivalents (2,125,963) (559,804)
Cash and cash equivalents - beginning of period 4,152,162 3,279,267
Cash and cash equivalents - end of period 2,026,199 2,719,463
Supplemental non-cash investing activities:    
Unrealized (loss) gain on marketable securities $ (114,342) 143,318
Increase of note payable in connection with the purchased business   1,300,000
Increase in accrued expenses in connection with the purchased business   586,675
Decrease in prepaid expenses in connection with the purchased business   $ 104,000