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Description of Business, Basis of Presentation and Significant Accounting Policies (Tables) | 9 Months Ended
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Aug. 31, 2022
Accounting Policies [Abstract] |
Schedule of Assets and Liabilities From Contracts With Customers | The following table provides information about assets and liabilities from contracts with customers:
|  | August 31, 2022 |  |  | November 30, 2021 |
Contract assets (sales commissions) |  | $ | 594,794 |  |  | $ | 535,522 |
Accounts receivables |  | $ | 5,346,673 |  |  | $ | 5,253,173 |
Short-term contract liabilities (deferred revenue) |  | $ | 9,546,386 |  |  | $ | 9,358,696 |
Long-term contract liabilities (deferred revenue) |  | $ | 34,671,785 |  |  | $ | 31,274,214 |
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 no t have asset impairment charges related to contract assets in the three and nine months ended August 31, 2022. The following table presents changes in the Company’s contract assets and liabilities during the nine months ended August 31, 2022:
|  | Balance at December 1, 2021 |  |  | Additions |  |  | Deductions |  |  | Balance at August 31, 2022 |
Contract assets (sales commissions) |  | $ | 535,522 |  |  | $ | 81,028 |  |  | $ | (21,756 | ) |  | $ | 594,794 |
Accounts receivables |  | $ | 5,253,173 |  |  | $ | 28,203,957 |  |  | $ | (28,110,457 | ) |  | $ | 5,346,673 |
Contract liabilities (deferred revenue) |  | $ | 40,632,910 |  |  | $ | 18,481,419 |  |  | $ | (14,896,158 | ) |  | $ | 44,218,171 |
The following table presents changes in the Company’s contract assets and liabilities during the nine months ended August 31, 2021:
|  | Balance at December 1, 2020 |  |  | Additions |  |  | Deductions |  |  | Balance at August 31, 2021 |
Contract assets (sales commissions) |  | $ | 466,141 |  |  | $ | 72,421 |  |  | $ | (19,021 | ) |  | $ | 519,541 |
Accounts receivables |  | $ | 6,322,960 |  |  | $ | 28,066,214 |  |  | $ | (28,939,861 | ) |  | $ | 5,449,313 |
Contract liabilities (deferred revenue) |  | $ | 36,384,360 |  |  | $ | 13,482,055 |  |  | $ | (10,144,638 | ) |  | $ | 39,721,777 |
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 August 31, 2022 and November 30, 2021, respectively, segregated among the appropriate levels within the fair value hierarchy:
|  | Fair Value at |  |  | Fair Value Measurements at August 31, 2022 Using |
Description |  | August 31, 2022 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  | $ | 38,695 |  |  | $ | 38,695 |  |  | $ | — |  |  | $ | — |
Interest rate swap |  | $ | 62,835 |  |  | $ | — |  |  | $ | 62,835 |  |  | $ | — |
Total |  | $ | 101,530 |  |  | $ | 38,695 |  |  | $ | 62,835 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 987,140 |  |  | $ | — |  |  | $ | — |  |  | $ | 987,140 |
Total |  | $ | 987,140 |  |  | $ | — |  |  | $ | — |  |  | $ | 987,140 |
Contingent Consideration: |  |  |
Beginning Balance as of November 30, 2021 |  | $ | 727,371 |
Subtractions – Cord:Use earnout payment |  |  | — |
Fair value adjustment as of August 31, 2022 |  |  | 259,769 |
Ending balance as of August 31, 2022 |  | $ | 987,140 |
|  | Fair Value at |  |  | Fair Value Measurements at November 30, 2021 Using |
Description |  | November 30, 2021 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  | $ | 75,412 |  |  | $ | 75,412 |  |  | $ | - |  |  | $ | - |
Total |  | $ | 75,412 |  |  | $ | 75,412 |  |  | $ | - |  |  | $ | - |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 727,371 |  |  | $ | - |  |  | $ | - |  |  | $ | 727,371 |
Total |  | $ | 727,371 |  |  | $ | - |  |  | $ | - |  |  | $ | 727,371 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + 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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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- Definition 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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