Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Feb. 28, 2013
Feb. 29, 2012
Cash Flows from Operating Activities:    
Net Income (Loss) $ (1,015,390) $ 87,534
Adjustments to reconcile net income to Net cash provided by (used in) operating activities:    
Depreciation and amortization 71,943 56,877
Bad debt (recovery) expense (29,225) (28,164)
Realized (loss) gain on sale of securities 0 (3,548)
Deferred income taxes (658,282) 51,955
Change in Operating Assets & Liabilities:    
(Increase) in accounts receivable (1,222,109) (2,429,710)
(Increase) in inventory (570,250) (1,825,234)
Decrease in insurance claim receivable 800,000 0
Increase in prepaid expenses and miscellaneous receivables (36,903) (5,004)
Decrease in prepaid income and refundable income tax (28,260) 12,341
Decrease in other assets 4,472 0
Increase (decrease) in accounts payable and accrued liabilities (197,591) 1,569,225
(Decrease) increase in income taxes payable (9,440) (23,253)
Net Cash Provided by (Used in) Operating Activities (2,891,035) (2,529,885)
Cash Flows from Investing Activities:    
Acquisition of property, plant and equipment (395,551) (39,996)
Purchase of marketable securities (153,000) 0
Proceeds from sale and maturity of investments 400,000 260,000
Net Cash (Used in) Provided by Investing Activities (148,551) 220,004
Cash Flows from Financing Activities:    
Repayments of Long-term Capital Lease Obligations (1,176) (1,453)
Dividends paid (493,811) (493,811)
Net Cash (Used in) Financing Activities (494,987) (495,264)
Net Increase (Decrease) in Cash (3,534,573) (2,805,145)
Cash and Cash Equivalents at Start of Period 9,828,681 7,699,615
Cash and Cash Equivalents at End of Period 6,294,108 4,894,470
Cash paid during the period for:    
Interest Paid, Net (24) (107)
Income Taxes Paid, Net (39,700) (25,869)
Schedule of Non Cash Financing Activities:    
Dividends declared $ 0 $ (493,811)