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Description of Business, Basis of Presentation and Significant Accounting Policies (Tables)

3 Months Ended

Feb. 29, 2020

Accounting Policies [Abstract]

Disaggregation of Revenue

The following table provides information about disaggregated revenue by products and services:

		Three months ended
		February 29, 2020				February 28, 2019
Processing and storage fees		$	7,406,288			$	7,335,027
Public banking revenue			154,079				134,365
Product revenue			60,407				25,720
		$	7,620,774			$	7,495,112

Schedule of Assets and Liabilities From Contracts With Customers

The following table provides information about assets and liabilities from contracts with customers:

		February 29, 2020				November 30, 2019
Contract assets (sales commissions)		$	416,745			$	398,535
Accounts receivables		$	5,766,684			$	6,097,331
Short-term contract liabilities (deferred revenue)		$	8,610,304			$	8,875,138
Long-term contract liabilities (deferred revenue)		$	24,454,967			$	23,633,373

The Company, in general, requires the customer to pay for processing and storage services at the time of processing. Contract assets include deferred contract acquisition costs, which will be amortized along with the associated revenue. Contract liabilities include payments received in advance of performance under the contract and are realized with the associated revenue recognized under the contract. Accounts receivable consists of amounts due from clients that have enrolled and processed in the umbilical cord blood stem cell processing and storage programs related to renewals of annual plans and amounts due from license affiliates, and sublicensee territories. The Company did not have asset impairment charges related to contract assets in the three months ended February 29, 2020 and February 28, 2019.

The following table presents changes in the Company’s contract assets and liabilities during the three months ended February 29, 2020:

		Balance at December 1, 2019				Additions				Deductions				Balance at February 29, 2020
Contract assets (sales commissions)		$	398,535			$	23,320			($	5,110	)		$	416,745
Accounts receivables		$	6,097,331			$	8,438,904			($	8,769,551	)		$	5,766,684
Contract liabilities (deferred revenue)		$	32,508,511			$	4,142,651			($	3,585,891	)		$	33,065,271

The following table presents changes in the Company’s contract assets and liabilities during the three months ended February 28, 2019:

		Balance at December 1, 2018				Additions				Deductions				Balance at February 28, 2019
Contract assets (sales commissions)		$	329,231			$	20,954			($	4,428	)		$	345,757
Accounts receivables		$	5,867,335			$	9,017,603			($	9,190,776	)		$	5,694,162
Contract liabilities (deferred revenue)		$	28,682,515			$	4,467,979			($	3,759,297	)		$	29,391,197

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of February 29, 2020 and November 30, 2019, respectively, segregated among the appropriate levels within the fair value hierarchy:

		Fair Value at February 29, 2020				Fair Value Measurements at February 29, 2020 Using
Description						Level 1				Level 2				Level 3
Assets:
Marketable Securities		$	959,001			$	959,001				—				—
		$	959,001			$	959,001				—				—
Liabilities:
Contingent consideration		$	3,443,645			$	—				—			$	3,443,645
Total		$	3,443,645			$	—				—			$	3,443,645

Contingent Consideration:
Beginning Balance as of November 30, 2019		$	3,495,057
Additions – Cord:Use earnout			—
Fair value adjustment as of February 29, 2020			(51,412	)
Ending balance as of February 29, 2020		$	3,443,645

		Fair Value at November 30, 2019				Fair Value Measurements at November 30, 2019 Using
Description						Level 1				Level 2				Level 3
Assets:
Marketable securities		$	904,053			$	904,053				—				—
		$	904,053			$	904,053				—				—
Liabilities:
Contingent consideration		$	3,495,057			$	—				—			$	3,495,057
Total		$	3,495,057			$	—				—			$	3,495,057

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- References

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Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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