Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Feb. 29, 2024
Nov. 30, 2023
Current Assets    
Cash and cash equivalents $ 247,112 $ 406,067
Marketable securities 732,481 574,183
Accounts receivable (net of allowance for doubtful accounts of $3,939,638 and $3,822,300, respectively) 6,726,893 6,576,240
Prepaid expenses 535,295 615,407
Inventory, current portion 755,160 768,877
Swap contract 76,825 122,113
Other current assets 378,310 389,950
Total current assets 9,452,076 9,452,837
Property and Equipment-net 21,605,273 20,996,883
Other Assets    
Intangible assets, net 972,154 989,121
Inventory, net of current portion 5,223,980 5,260,119
Goodwill 1,941,411 1,941,411
Deferred tax assets 20,492,749 20,492,749
Operating lease right-of-use asset 958,022 1,033,157
Deposits and other assets, net 757,109 746,493
Total other assets 30,653,425 30,771,050
Total assets 61,710,774 61,220,770
Current Liabilities    
Accounts payable 2,996,658 3,174,584
Accrued expenses 3,916,898 5,170,809
Note payable 168,623 165,641
Line of credit 1,972,728 1,222,728
Current portion of operating lease liability 253,981 225,686
Duke license agreement liability 666,667 1,200,000
Deferred revenue 9,394,821 9,704,553
Total current liabilities 19,370,376 20,864,001
Other Liabilities    
Deferred revenue, net of current portion 42,603,661 41,186,800
Contingent consideration 39,050 44,226
Note payable, net of current portion and debt issuance costs 8,391,738 8,430,037
Operating lease long-term liability 768,961 851,938
Long-term liability - revenue sharing agreements 875,000 875,000
Total other liabilities 52,678,410 51,388,001
Total liabilities 72,048,786 72,252,002
Commitments and contingencies (Note 9) 0 0
Stockholders' Deficit    
Preferred stock 0 0
Common stock ($.01 par value, 20,000,000 authorized; 14,849,246 issued and 8,254,977 outstanding as of February 29, 2024 and 14,849,246 issued and 8,286,785 outstanding as of November 30, 2023) 148,492 148,492
Additional paid-in capital 43,718,498 43,411,143
Treasury stock, at cost (23,602,061) (23,431,685)
Accumulated deficit (30,602,941) (31,159,182)
Total stockholders' deficit (10,338,012) (11,031,232)
Total liabilities and stockholders' equity 61,710,774 61,220,770
Series A Junior Participating Preferred Stock [Member]    
Stockholders' Deficit    
Preferred stock 0 0
Tianhe Stem Cell Biotechnologies Inc [Member]    
Other Assets    
Investment $ 308,000 $ 308,000