Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 6 Months Ended
May 31, 2014
May 31, 2013
Cash Flows from Operating Activities:    
Net Loss $ (5,376,271) $ (1,172,226)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 173,022 155,321
Change in allowance for bad debts (22,340) (26,680)
Deferred compensation 10,800 0
(Gain) on sale of securities (146,025) 0
Deferred income taxes (3,122,793) (722,783)
Change in Operating Assets & Liabilities:    
Decrease (increase) in accounts receivable 334,143 (30,695)
Decrease (increase) in inventory 1,283,272 (1,339,713)
Decrease in insurance claim receivable 0 459,614
Increase in prepaid expenses and other receivables (35,295) (261,484)
Decrease (increase) in prepaid income and refundable income tax 3,436 (6,200)
Decrease in other assets 8,000 7,500
Decrease in accounts payable and accrued liabilities 4,511,117 263,466
(Decrease) in income taxes payable 0 (9,440)
Net Cash Used in Operating Activities (2,378,934) (2,683,320)
Cash Flows from Investing Activities:    
Acquisition of property, plant and equipment (25,466) (645,910)
Purchase of marketable securities 0 (153,000)
Proceeds from sale and maturity of investments 746,071 400,000
Net Cash Provided by (used in) Investing Activities 720,605 (398,910)
Cash Flows from Financing Activities:    
Payments for capital lease obligations (3,695) (2,369)
Dividends paid 0 (987,622)
Net Cash (Used in) Financing Activities (3,695) (989,991)
Net (Decrease) in Cash (1,662,024) (4,072,221)
Cash and Cash Equivalents at Beginning of Period 3,199,020 9,828,681
Cash and Cash Equivalents at End of Period 1,536,996 5,756,460
Cash paid during the period for:    
Interest 1,526 299
Income taxes $ 500 $ 72,499