Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.24.2
Consolidated Balance Sheets - USD ($)
May 31, 2024
Nov. 30, 2023
Current Assets    
Cash and cash equivalents $ 469,195 $ 406,067
Marketable securities 1,060,436 574,183
Accounts receivable (net of allowance for doubtful accounts of $4,026,578 and $3,822,300, respectively) 6,831,447 6,576,240
Prepaid expenses 651,781 615,407
Inventory, current portion 708,193 768,877
Swap contract 0 122,113
Other current assets 435,475 389,950
Total current assets 10,156,527 9,452,837
Property and Equipment-net 22,161,859 20,996,883
Other Assets    
Intangible assets, net 955,187 989,121
Inventory, net of current portion 5,198,075 5,260,119
Goodwill 1,941,411 1,941,411
Deferred tax assets 20,492,749 20,492,749
Operating lease right-of-use asset 881,744 1,033,157
Deposits and other assets, net 779,044 746,493
Total other assets 30,248,210 30,771,050
Total assets 62,566,596 61,220,770
Current Liabilities    
Accounts payable 1,827,717 3,174,584
Accrued expenses 3,217,270 5,170,809
Note payable 171,605 165,641
Line of credit 4,222,728 1,222,728
Current portion of operating lease liability 294,777 225,686
Duke license agreement liability 133,333 1,200,000
Deferred revenue 9,580,635 9,704,553
Total current liabilities 19,448,065 20,864,001
Other Liabilities    
Deferred revenue, net of current portion 43,920,645 41,186,800
Contingent consideration 35,353 44,226
Note payable, net of current portion and debt issuance costs 8,356,372 8,430,037
Operating lease long-term liability 672,339 851,938
Long-term liability - revenue sharing agreements 875,000 875,000
Total other liabilities 53,859,709 51,388,001
Total liabilities 73,307,774 72,252,002
Commitments and contingencies (Note 9) 0 0
Stockholders' Deficit    
Preferred stock 0 0
Common stock ($.01 par value, 20,000,000 authorized; 14,849,246 issued and 8,063,786 outstanding as of May 31, 2024 and 14,849,246 issued and 8,286,785 outstanding as of November 30, 2023) 148,492 148,492
Additional paid-in capital 43,896,637 43,411,143
Treasury stock, at cost (24,839,156) (23,431,685)
Accumulated deficit (29,947,151) (31,159,182)
Total stockholders' deficit (10,741,178) (11,031,232)
Total liabilities and stockholders' deficit 62,566,596 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 $ 0 $ 308,000