Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Aug. 31, 2014
Nov. 30, 2013
Current assets:    
Cash & cash equivalents $ 1,041,061 $ 3,199,020
Trade Date Receivable 424,838 0
Short term investments & marketable securities 0 1,112,440
Accounts receivable, net of allowances of $2,143,157 and $1,081,277, respectively 4,527,853 5,473,452
Inventories, net of reserve for inventory obsolescence of $1,708,254 and $3,030,306, respectively 5,821,751 8,607,567
Prepaid expenses and sundry receivables 329,858 424,626
Prepaid and refundable income taxes 675,596 678,889
Deferred income taxes 2,878,218 2,668,747
Total Current Assets 15,699,175 22,164,741
Property and equipment, net of accumulated depreciation and amortization 1,284,762 1,489,799
Intangible assets, net of accumulated amortization 746,864 762,193
Deferred income taxes 4,524,312 1,921,016
Other 0 8,000
Total Assets 22,255,113 26,345,749
Current Liabilities:    
Accounts payable & accrued liabilities 10,012,663 9,246,072
Capitalized lease obligations - current portion 7,507 7,116
Total current liabilities 10,020,170 9,253,188
Capitalized lease obligations 24,215 30,195
Total Liabilities 10,044,385 9,283,383
Shareholders' Equity:    
Preferred stock, $1.00 par, authorized 20,000,000 none issued 0 0
Additional paid-in capital 2,347,949 2,329,049
Retained earnings 9,792,712 14,480,872
Unrealized gains on marketable securities 0 182,378
Total Shareholders' Equity 12,210,728 17,062,366
Total Liabilities and Shareholders' Equity 22,255,113 26,345,749
Common stock, $.01 par, authorized 15,000,000 shares, issued and outstanding 6,038,982 and 6,038,982 shares, respectively
    
Shareholders' Equity:    
Value of common stock issued 60,390 60,390
Class A common stock, $.01 par, authorized 5,000,000 shares, issued and outstanding 967,702 and 967,702 shares, respectively
    
Shareholders' Equity:    
Value of common stock issued $ 9,677 $ 9,677