Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Comprehensive Income (Unaudited)

v3.2.0.727
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
May. 31, 2015
May. 31, 2014
May. 31, 2015
May. 31, 2014
Revenue:        
Processing and storage fees $ 4,844,477 $ 4,723,435 $ 9,518,446 $ 9,080,666
Licensee and royalty income 169,412 169,411 338,824 1,132,662
Total revenue 5,013,889 4,892,846 9,857,270 10,213,328
Costs and Expenses:        
Cost of sales 1,377,387 1,489,705 2,651,374 2,824,066
Selling, general and administrative expenses 3,006,779 2,753,140 5,920,752 5,875,863
Abandonment of patents   25,649   25,649
Research, development and related engineering 10,531 18,323 22,519 32,691
Depreciation and amortization 17,101 43,699 35,343 88,204
Total costs and expenses 4,411,798 4,330,516 8,629,988 8,846,473
Operating Income 602,091 562,330 1,227,282 1,366,855
Other Income (Expense):        
Other income (expense) 11,402 7,474 7,327 35,243
Interest expense (369,801) (252,544) (671,087) (526,860)
Total other expense (358,399) (245,070) (663,760) (491,617)
Income before equity in losses of affiliate and income tax expense 243,692 317,260 563,522 875,238
Equity in losses of affiliate (8,248) (76,076) (16,496) (189,651)
Income before income tax expense 235,444 241,184 547,026 685,587
Income tax expense (25,412) (25,411) (50,824) (72,702)
Net Income $ 210,032 $ 215,773 $ 496,202 $ 612,885
Net income per common share - basic $ 0.02 $ 0.02 $ 0.05 $ 0.06
Weighted average common shares outstanding - basic 9,809,127 10,250,471 9,816,762 10,467,914
Net income per common share - diluted $ 0.02 $ 0.02 $ 0.05 $ 0.06
Weighted average common shares outstanding - diluted 10,042,604 10,406,607 10,049,315 10,595,590
Other Comprehensive Income        
Unrealized gain on marketable securities $ 226,276   $ 226,276  
Comprehensive Income $ 436,308 $ 215,773 $ 722,478 $ 612,885