Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Comprehensive Income

v3.20.1
Consolidated Statements of Comprehensive Income - USD ($)
3 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Revenue $ 7,620,774 $ 7,495,112
Costs and Expenses:    
Cost of sales 2,503,144 2,466,227
Selling, general and administrative expenses 3,870,029 3,745,302
Change in fair value of contingent consideration (51,412) 367,057
Research, development and related engineering 5,722 5,884
Depreciation and amortization 44,221 56,980
Total costs and expenses 6,371,704 6,641,450
Operating Income 1,249,070 853,662
Other Expense:    
Unrealized gains (losses) on marketable securities 54,948 (67,179)
Other income (expense) 627 986
Interest expense (365,299) (406,925)
Total other expense (309,724) (473,118)
Income before income tax expense 939,346 380,544
Income tax expense (252,380) (104,667)
Net Income and Comprehensive Income $ 686,966 $ 275,877
Net income per common share—basic $ 0.09 $ 0.04
Weighted average common shares outstanding—basic 7,541,113 7,801,333
Net income per common share—diluted $ 0.08 $ 0.03
Weighted average common shares outstanding—diluted 8,128,257 8,424,905
Processing and Storage Fees [Member]    
Revenue $ 7,406,288 $ 7,335,027
Public Banking [Member]    
Revenue 154,079 134,365
Product [Member]    
Revenue $ 60,407 $ 25,720