Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Aug. 31, 2011
Nov. 30, 2010
ASSETS    
Cash and cash equivalents $ 5,873,490 $ 8,369,537 [1]
Restricted cash 2,700,000 200,000 [1]
Marketable securities and other investments 1,002,000 1,132,000 [1]
Accounts receivable and advances (net of allowance for doubtful accounts of $1,062,040 and $783,354, respectively) 2,566,860 2,356,279 [1]
Deferred tax assets 173,241 173,241 [1]
Prepaid expenses and other current assets 886,440 647,510 [1]
Total current assets 13,202,031 12,878,567 [1]
Property and Equipment-net 2,384,534 2,222,168 [1]
Other Assets    
Marketable securities and other investments 6,404 6,404 [1]
Investment in Saneron CCEL Therapeutics, Inc. 684,000 684,000 [1]
Deposits and other assets, net 699,743 756,280 [1]
Deferred tax assets, less current portion 1,615,000 1,615,000 [1]
Total other assets 3,005,147 3,061,684 [1]
Total assets 18,591,712 18,162,419 [1]
LIABILITIES AND STOCKHOLDERS' DEFICIT    
Accounts payable 875,134 1,053,186 [1]
Accrued expenses 3,195,063 1,621,221 [1]
Deferred revenue 5,657,897 [1] 5,472,332 [1]
Total current liabilities 9,728,094 8,146,739 [1]
Other Liabilities    
Deferred revenue, net of current portion 7,392,659 [1] 7,015,118 [1]
Long-term liability-revenue sharing agreements 3,750,000 3,750,000 [1]
Deferred consulting obligation 102,800 183,055 [1]
Total other liabilities 11,245,459 10,948,173 [1]
Commitments and Contingencies     [1]
Stockholders' Deficit    
Preferred stock ($.01 par value, 500,000 authorized and none issued)     [1]
Common stock ($.01 par value, 20,000,000 authorized; 11,764,325 as of August 31, 2011 and 11,752,574 as of November 30, 2010 issued and outstanding) 117,643 117,526 [1]
Additional paid-in capital 25,330,694 24,808,591 [1]
Accumulated deficit (27,251,588) [1] (25,280,020) [1]
Treasury stock, at cost (484,535) (484,535) [1]
Accumulated other comprehensive loss (94,055) (94,055) [1]
Total stockholders' deficit (2,381,841) (932,493) [1]
Total liabilities and stockholders' deficit $ 18,591,712 $ 18,162,419 [1]
[1] See Note 7, Retrospective Adoption of New Accounting Principle