Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Aug. 31, 2014
Aug. 31, 2013
Cash Flows from Operating Activities:    
Net Loss $ (4,688,159) $ (1,965,119)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 257,034 238,198
Change in allowance for bad debts (26,802) 4,825
Deferred compensation 18,900 0
(Gain) on sale of securities (347,490) 0
Deferred income taxes (2,706,124) (1,181,620)
Loss on write off of fixed assets 24,763 0
Change in Operating Assets & Liabilities:    
Decrease in accounts receivable 972,401 754,686
Decrease (increase) in inventory 2,785,816 (1,364,595)
Decrease in insurance claim receivable 0 800,000
Decrease (increase) in prepaid expenses and other receivables 94,768 (55,896)
Decrease in prepaid income and refundable income tax 3,293 64,288
Decrease in other assets 8,000 12,000
Increase (decrease) in accounts payable and accrued liabilities 766,591 (789,369)
(Decrease) in income taxes payable 0 (9,440)
Net Cash Used in Operating Activities (2,837,009) (3,492,042)
Cash Flows from Investing Activities:    
Acquisition of property, plant and equipment (64,357) (690,815)
Proceeds from sale of property, plant and equipment 2,925 0
Purchase of marketable securities 0 (153,000)
Trade date receivables (424,838) 0
Proceeds from sale and maturity of investments 1,170,909 400,000
Net Cash Provided by (used in) Investing Activities 684,639 (443,815)
Cash Flows from Financing Activities:    
Increase in capital lease obligation 0 24,336
Payments for capital lease obligations (5,589) (2,484)
Purchase of Company stock and retirement 0 (155,215)
Dividends paid 0 (987,622)
Net Cash Used in Financing Activities (5,589) (1,120,985)
Net (Decrease) in Cash (2,157,959) (5,056,842)
Cash and Cash Equivalents at Beginning of Period 3,199,020 9,828,681
Cash and Cash Equivalents at End of Period 1,041,061 4,771,839
Cash paid during the period for:    
Interest 2,077 1,602
Income taxes $ 1,841 $ 40,200