Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Comprehensive Income

v3.20.2
Consolidated Statements of Comprehensive Income - USD ($)
3 Months Ended 6 Months Ended
May 31, 2020
May 31, 2019
May 31, 2020
May 31, 2019
Revenue $ 7,871,844 $ 8,127,852 $ 15,492,618 $ 15,622,964
Costs and Expenses:        
Cost of sales 2,480,543 2,628,291 4,983,687 5,094,518
Selling, general and administrative expenses 3,558,568 3,647,927 7,428,597 7,393,229
Impairment of public inventory 2,332,763 2,332,763   2,332,763
Change in fair value of contingent consideration 27,423 (1,037,984) (23,989) (670,927)
Research, development and related engineering 9,821 4,957 15,543 10,841
Depreciation and amortization 43,303 55,334 87,524 112,314
Total costs and expenses 6,119,658 7,631,288 12,491,362 14,272,738
Operating Income 1,752,186 496,564 3,001,256 1,350,226
Other Expense:        
Unrealized (losses) gains on marketable securities (53,572) 31,299 1,376 (35,880)
Other income 105 1,040 732 2,026
Interest expense (365,371) (424,287) (730,670) (831,212)
Total other expense (418,838) (391,948) (728,562) (865,066)
Income before income tax expense 1,333,348 104,616 2,272,694 485,160
Income tax expense (380,010) (50,943) (632,390) (155,610)
Net Income and Comprehensive Income $ 953,338 $ 53,673 $ 1,640,304 $ 329,550
Net income per common share—basic $ 0.13 $ 0.01 $ 0.22 $ 0.04
Weighted average common shares outstanding—basic 7,545,613 7,803,333 7,543,376 7,802,344
Net income per common share—diluted $ 0.12 $ 0.01 $ 0.20 $ 0.04
Weighted average common shares outstanding—diluted 8,112,289 8,421,236 8,120,454 8,422,142
Processing and Storage Fees [Member]        
Revenue $ 7,399,074 $ 7,679,869 $ 14,805,362 $ 15,014,896
Public Banking [Member]        
Revenue 213,642 234,115 367,721 368,480
Licensee and royalty income [Member]        
Revenue 201,828 201,828 201,828 201,828
Product [Member]        
Revenue $ 57,300 $ 12,040 $ 117,707 $ 37,760