Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.6.0.2
Consolidated Balance Sheets - USD ($)
Nov. 30, 2016
Nov. 30, 2015
Current Assets    
Cash and cash equivalents $ 3,499,881 $ 4,152,162
Restricted cash   204,344
Marketable securities 624,223 610,424
Accounts receivable (net of allowance for doubtful accounts of $2,278,862 and $2,067,130, respectively) 4,052,728 3,058,379
Deferred tax assets, current portion   1,336,000
Prepaid expenses 395,501 427,819
Inventory, net 361,142 475,608
Other current assets 78,448 88,392
Total current assets 9,011,923 10,353,128
Property and Equipment-net 979,463 879,070
Other Assets    
Intangible assets, net 261,000 516,328
Goodwill 0 1,777,822
Deferred tax assets 9,260,582 5,930,987
Deposits and other assets, net 25,500 40,611
Total other assets 9,547,082 8,265,748
Total assets 19,538,468 19,497,946
Current Liabilities    
Accounts payable 1,485,430 1,328,619
Accrued expenses 2,554,330 2,005,351
Current portion of note payable 2,000,000 307,420
Deferred revenue 7,071,924 6,782,562
Total current liabilities 13,111,684 10,423,952
Other Liabilities    
Deferred revenue, net of current portion 12,596,292 10,869,218
Note payable, net of current portion and debt issuance costs 7,819,750 868,947
Long-term liability - revenue sharing agreements 1,425,000 2,300,000
Total other liabilities 21,841,042 14,038,165
Total liabilities 34,952,726 24,462,117
Commitments and contingencies (Note 15)
Stockholders' Deficit    
Preferred stock
Common stock ($.01 par value, 20,000,000 authorized; 12,504,464 issued and 6,789,596 outstanding as of November 30, 2016 and 12,260,340 issued and 9,010,322 outstanding as of November 30, 2015) 125,044 122,603
Additional paid-in capital 30,340,573 28,530,368
Treasury stock, at cost (19,124,492) (8,318,083)
Accumulated other comprehensive income 34,408 169,932
Accumulated deficit (26,789,791) (25,468,991)
Total stockholders' deficit (15,414,258) (4,964,171)
Total liabilities and stockholders' deficit 19,538,468 19,497,946
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock