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Segment Reporting | 12 Months Ended
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Nov. 30, 2023
Segment Reporting [Abstract] |
Segment Reporting | NOTE 5 – SEGMENT REPORTING The Company is organized in three reportable segments: 1. The cellular processing and cryogenic storage of umbilical cord blood and cord tissue stem cells for family use. Revenue is generated from the initial processing and testing fees and the annual storage fees charged each year for storage (the “Umbilical cord blood and cord tissue stem cell service”). 2. The manufacture of PrepaCyte CB units, the processing technology used to process umbilical cord blood stem cells. Revenue is generated from the sales of the PrepaCyte CB units (the “PrepaCyte CB”). 3. The cellular processing and cryogenic storage of umbilical cord blood stem cells for public use. Revenue is generated from the sale of the cord blood units to the National Marrow Donor Program (“NMDP”), which distributes the cord blood units to transplant centers located in the United States, and around the world. The following table shows, by segment: net revenue, cost of sales, operating profit, depreciation and amortization, interest expense, and assets for the years ended November 30, 2023 and November 30, 2022:
|  | For the years ended November 30, |
|  | 2023 |  |  | 2022 |
Net revenue: |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 30,796,091 |  |  | $ | 29,771,123 |
PrepaCyte CB |  |  | 66,456 |  |  |  | 104,000 |
Public cord blood banking |  |  | 481,148 |  |  |  | 461,626 |
Total net revenue |  | $ | 31,343,695 |  |  | $ | 30,336,749 |
Cost of sales: |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 7,268,724 |  |  | $ | 7,095,113 |
PrepaCyte CB |  |  | 35,490 |  |  |  | 100,715 |
Public cord blood banking |  |  | 1,138,096 |  |  |  | 1,596,530 |
Total cost of sales |  | $ | 8,442,310 |  |  | $ | 8,792,358 |
Operating (loss) profit: |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | (7,911,698 | ) |  | $ | 5,185,305 |
PrepaCyte CB |  |  | 3,188 |  |  |  | (24,493 | )
Public cord blood banking |  |  | (4,395,522 | ) |  |  | (1,136,345 | )
Total operating (loss) profit |  | $ | (12,304,032 | ) |  | $ | 4,024,467 |
Depreciation and amortization: |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 1,095,009 |  |  | $ | 1,090,309 |
PrepaCyte CB |  |  | 27,778 |  |  |  | 27,778 |
Public cord blood banking |  |  | 1,441 |  |  |  | 1,441 |
Total depreciation and amortization |  | $ | 1,124,228 |  |  | $ | 1,119,528 |
Interest expense: |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 1,236,794 |  |  | $ | 1,521,767 |
PrepaCyte CB |  |  | — |  |  |  | — |
Public cord blood banking |  |  | — |  |  |  | — |
Total interest expense |  | $ | 1,236,794 |  |  | $ | 1,521,767 |
The following table shows the assets by segment as of November 30, 2023 and November 30, 2022:
|  | As of |  |  | As of |
|  | November 30, 2023 |  |  | November 30, 2022 |
Assets: |  |  |  |  |  |
Umbilical cord blood and cord tissue stem cell service |  | $ | 55,471,149 |  |  | $ | 54,849,697 |
PrepaCyte CB |  |  | 148,040 |  |  |  | 176,546 |
Public cord blood banking |  |  | 5,601,581 |  |  |  | 9,861,811 |
Total assets |  | $ | 61,220,770 |  |  | $ | 64,888,054 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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