Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.23.2
Consolidated Balance Sheets - USD ($)
May 31, 2023
Nov. 30, 2022
Current Assets    
Cash and cash equivalents $ 1,123,998 $ 1,703,958
Marketable securities 568,181 17,620
Accounts receivable (net of allowance for doubtful accounts of $3,633,617 and $3,528,119, respectively) 6,682,479 6,043,941
Prepaid expenses 650,466 566,557
Inventory, current portion 879,294 851,230
Other current assets 409,059 426,879
Total current assets 10,313,477 9,610,185
Property and Equipment-net 17,098,064 13,603,115
Other Assets    
Duke license agreement 13,210,641 13,691,028
Intangible assets, net 1,415,121 1,463,312
Inventory, net of current portion 8,836,287 9,275,344
Goodwill 1,941,411 1,941,411
Deferred tax assets 13,742,399 13,742,399
Operating lease right-of-use asset 1,188,284 606,034
Deposits and other assets, net 704,024 647,226
Total other assets 41,346,167 41,674,754
Total assets 68,757,708 64,888,054
Current Liabilities    
Accounts payable 4,056,242 1,605,301
Accrued expenses 2,216,727 3,585,810
Note payable 158,456 150,527
Line of credit 1,772,728 2,272,728
Swap contract liability 223,974 0
Current portion of operating lease liability 224,729 297,691
Current portion of Duke license agreement liability 1,600,000 1,983,036
Deferred revenue 9,455,539 9,586,327
Total current liabilities 19,708,395 19,481,420
Other Liabilities    
Deferred revenue, net of current portion 38,652,511 36,000,059
Contingent consideration 907,379 1,162,704
Note payable, net of current portion and debt issuance costs 8,505,682 8,579,875
Operating lease long-term liability 967,116 313,298
Long-term liability - revenue sharing agreements 875,000 875,000
Total other liabilities 49,907,688 46,930,936
Total liabilities 69,616,083 66,412,356
Commitments and contingencies (Note 9) 0 0
Stockholders' (Deficit) Equity    
Preferred stock 0 0
Common stock ($.01 par value, 20,000,000 authorized; 14,848,001 issued and 8,287,169 outstanding as of May 31, 2023 and 14,848,001 issued and 8,500,511 outstanding as of November 30, 2022) 148,480 148,480
Additional paid-in capital 43,066,971 42,597,380
Treasury stock, at cost (23,424,101) (22,632,649)
Accumulated (deficit) equity (20,649,725) (21,637,513)
Total stockholders' (deficit) equity (858,375) (1,524,302)
Total liabilities and stockholders' (deficit) equity 68,757,708 64,888,054
Series A Junior Participating Preferred Stock [Member]    
Stockholders' (Deficit) Equity    
Preferred stock 0 0
Tianhe Stem Cell Biotechnologies Inc [Member]    
Other Assets    
Investment $ 308,000 $ 308,000