Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Aug. 31, 2017
Nov. 30, 2016
Current Assets:    
Cash and cash equivalents $ 337,015 $ 309,280
Accounts receivable, net of allowances of $135,245 and $957,029, respectively 3,656,544 2,147,680
Inventories, net of reserve for inventory obsolescence of $112,834 and $500,156, respectively 2,176,645 2,347,483
Prepaid expenses and sundry receivables 646,059 466,060
Prepaid and refundable income taxes 66,520 44,154
Deferred income taxes 1,626,646 2,148,764
Total Current Assets 8,509,429 7,463,421
Property and equipment, net of accumulated depreciation 208,408 235,203
Intangible assets, net of accumulated amortization 433,487 433,778
Deferred financing fees, net of accumulated amortization 164,888 259,587
Deferred income taxes 8,120,971 8,415,699
Other 430,543 430,544
Total Assets 17,867,726 17,238,232
Current Liabilities:    
Accounts payable and accrued liabilities 5,035,358 5,615,756
Capital lease obligation - current portion 968 3,721
Income tax payable 0 20,000
Line of credit 3,164,300 3,277,885
Total Current Liabilities 8,200,626 8,917,362
Long term accrued liabilities 220,509 264,126
Long term - other 147,852 147,853
Total Liabilities 8,568,987 9,329,341
Shareholders' Equity:    
Preferred stock, $1.00 par, authorized 20,000,000 none issued 0 0
Additional paid-in capital 4,347,286 4,220,422
Retained earnings 4,881,386 3,618,402
Total Shareholders' Equity 9,298,739 7,908,891
Total Liabilities and Shareholders' Equity 17,867,726 17,238,232
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