Annual report pursuant to Section 13 and 15(d)

Description of Business and Summary of Significant Accounting Policies (Tables)

v2.4.1.9
Description of Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Nov. 30, 2014
Accounting Policies [Abstract]  
Estimated Useful Lives of Property and Equipment

Estimated useful lives of property and equipment are as follows:

 

Furniture and equipment 3-10 years
Leasehold improvements Lesser of 8-10 years or the lives of the leases
Computer software - internal use 1-5 years
Summary of Patent Costs

Patent costs are as follows:

 

     2014      2013  

Patents

    $ 34,570       $ 63,757   

Less: Accumulated amortization

      (6,212 )       (7,123 ) 
  

 

 

     

 

 

  

Net Patents

 $ 28,358    $ 56,634   
  

 

 

     

 

 

  
Future Amortization Expenses

The future amortization expenses are as follows:

 

Fiscal Year Ending November 30,

    Amortization  

2015

    $ 1,863   

2016

    $ 1,863   

2017

    $ 1,863   

2018

    $ 1,863   

2019

    $ 1,863   

Thereafter

    $ 19,043   
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of November 30, 2014 and 2013, respectively, segregated among the appropriate levels within the fair value hierarchy:

 

            Fair Value Measurements  
     Fair Value at      at November 30, 2014 Using  

Description

    November 30,
2014		      Level 1      Level 2      Level 3  

Assets:

            

Trading securities

    $ 102,674       $ 102,674         —           —     

 

            Fair Value Measurements  
     Fair Value at      at November 30, 2013 Using  

Description

    November 30,
2013		      Level 1      Level 2      Level 3  

Assets:

            

Trading securities

    $ 37,910       $ 37,910         —           —     
Composition of Basic and Diluted Net Loss Per Share

 The composition of basic and diluted net income per share is as follows:

 

     November 30, 2014      November 30, 2013  

Numerator:

      

Net Income

    $ 553,623       $ 27,436   

Denominator:

      

Weighted-average shares outstanding-basic

      10,175,806         10,864,552   

Dilutive common shares issuable upon exercise of stock options

      253,229         107,932   
  

 

 

     

 

 

  

Weighted-average shares-diluted

   10,429,035      10,972,484   
  

 

 

     

 

 

  

Income per share:

Basic

 $ 0.05    $ 0.00   
  

 

 

     

 

 

  

Diluted

 $ 0.05    $ 0.00