XML 28 R20.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Description of Business, Basis of Presentation and Significant Accounting Policies (Tables) | 3 Months Ended
--- | ---
Feb. 29, 2024
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:
|  | February 29, 2024 |  |  | November 30, 2023 |
Contract assets (sales commissions) |  | $ | 716,621 |  |  | $ | 695,695 |
Accounts receivable |  | $ | 6,726,893 |  |  | $ | 6,576,240 |
Short-term contract liabilities (deferred revenue) |  | $ | 9,394,821 |  |  | $ | 9,704,553 |
Long-term contract liabilities (deferred revenue) |  | $ | 42,603,661 |  |  | $ | 41,186,800 |
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 months ended February 29, 2024 and February 28, 2023. The following table presents changes in the Company’s contract assets and liabilities during the three months ended February 29, 2024:
|  | Balance at December 1, 2023 |  |  | Additions |  |  | Deductions |  |  | Balance at February 29, 2024 |
Contract assets (sales commissions) |  | $ | 695,695 |  |  | $ | 30,179 |  |  | $ | (9,253 | ) |  | $ | 716,621 |
Accounts receivable |  | $ | 6,576,240 |  |  | $ | 10,250,022 |  |  | $ | (10,099,369 | ) |  | $ | 6,726,893 |
Contract liabilities (deferred revenue) |  | $ | 50,891,353 |  |  | $ | 5,297,596 |  |  | $ | (4,190,467 | ) |  | $ | 51,998,482 |
The following table presents changes in the Company’s contract assets and liabilities during the three months ended February 28, 2023:
|  | Balance at December 1, 2022 |  |  | Additions |  |  | Deductions |  |  | Balance at February 28, 2023 |
Contract assets (sales commissions) |  | $ | 615,628 |  |  | $ | 26,436 |  |  | $ | (8,098 | ) |  | $ | 633,966 |
Accounts receivable |  | $ | 6,043,941 |  |  | $ | 10,373,235 |  |  | $ | (9,894,720 | ) |  | $ | 6,522,456 |
Contract liabilities (deferred revenue) |  | $ | 45,586,386 |  |  | $ | 6,404,429 |  |  | $ | (5,490,795 | ) |  | $ | 46,500,020 |
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, 2024 and November 30, 2023, respectively, segregated among the appropriate levels within the fair value hierarchy:
|  | Fair Value at |  |  | Fair Value Measurements at February 29, 2024 Using |
Description |  | February 29, 2024 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  | $ | 732,481 |  |  | $ | 732,481 |  |  | $ | — |  |  | $ | — |
Interest rate swap |  | $ | 76,825 |  |  | $ | — |  |  | $ | 76,825 |  |  | $ | — |
Total |  | $ | 809,306 |  |  | $ | 732,481 |  |  | $ | 76,825 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 39,050 |  |  | $ | — |  |  | $ | — |  |  | $ | 39,050 |
Total |  | $ | 39,050 |  |  | $ | — |  |  | $ | — |  |  | $ | 39,050 |
Contingent Consideration: |  |  |
Beginning Balance as of November 30, 2023 |  | $ | 44,226 |
Subtractions – Cord:Use earnout payment |  |  | — |
Fair value adjustment as of February 29, 2024 |  |  | (5,176 | )
Ending balance as of February 29, 2024 |  | $ | 39,050 |
|  | Fair Value at |  |  | Fair Value Measurements at November 30, 2023 Using |
Description |  | November 30, 2023 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  | $ | 574,183 |  |  | $ | 574,183 |  |  | $ | — |  |  | $ | — |
Interest rate swap |  | $ | 122,113 |  |  | $ | — |  |  | $ | 122,113 |  |  | $ | — |
Total |  | $ | 696,296 |  |  | $ | 574,183 |  |  | $ | 122,113 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 44,226 |  |  | $ | — |  |  | $ | — |  |  | $ | 44,226 |
Total |  | $ | 44,226 |  |  | $ | — |  |  | $ | — |  |  | $ | 44,226 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration