Cryo-Cell International, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note Payable (Tables)

Note Payable (Tables)

12 Months Ended

Nov. 30, 2023

As of November 30, 2023, and November 30, 2022, the note payable obligation was as follows:


	November 30, 2023			November 30, 2022
Note payable - Susser	$	8,765,082		$	8,921,437
Unamortized debt issuance costs - Susser		(169,404	)		(191,035	)
Net note payable	$	8,595,678		$	8,730,402
Current portion of note payable	$	165,641		$	150,527
Long-term note payable, net of debt issuance costs		8,430,037			8,579,875
Total	$	8,595,678		$	8,730,402

Summary of Interest Expense on Note Payable

Interest expense on the note payable for the years ended November 30, 2023 and November 30, 2022 was as follows:


	November 30, 2023		November 30, 2022
Interest expense on notes payable - TCB	$	—	$	18,485
Interest expense on notes payable - Susser		136,958		286,242
Debt issuance costs - TCB		—		10,367
Debt issuance costs - Susser		3,631		5,467
Total interest expense	$	140,589	$	320,561

During fiscal 2023, the Company recorded gross interest expense of $824,113. The Company capitalized $683,524 of interest expense related to the construction of the Company's new facility in North Carolina. The net interest expense recorded for fiscal 2023 was $140,589.