Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v2.4.0.6
Consolidated Statements of Income (USD $)
 12 Months Ended
Nov. 30, 2012
Nov. 30, 2011
Nov. 30, 2010
Revenue      
Sales revenue $ 8,021,022 $ 2,161,723  
Lease income 2,552,975 1,063,740  
Total Revenue 10,573,997 3,225,463  
Expenses      
Cost of sales (excluding depreciation expense) 6,078,102 1,689,374  
Management fees, net of expense reimbursements 1,046,796 968,163 925,820
Asset acquisition expenses 377,834 638,185  
Professional fees 1,141,045 548,759 590,486
Depreciation expense 1,118,269 364,254  
Operating expenses 739,519 196,775  
Directors' fees 85,050 70,192 92,053
Other expenses 231,086 183,674 244,398
Total Expenses 10,817,701 4,659,376 1,852,757
Loss from Operations, before Income Taxes (243,704) (1,433,913) (1,852,757)
Other Income and Expense      
Net distributions and dividend income (279,395) 651,673 1,853,247
Net realized and unrealized (loss) gain on trading securities 4,009,933 2,299,975 (894,531)
Net realized and unrealized gain on other equity securities 16,171,944 2,283,773 20,340,602
Other Income   40,000 38,580
Interest Expense (81,123) (36,508) (45,619)
Total Other Income and Expense 19,821,359 5,238,913 21,292,279
Income before income taxes 19,577,655 3,805,000 19,439,522
Taxes      
Current tax expense (29,265) (253,650)  
Deferred tax expense (7,199,669) (629,207) (4,772,648)
Income tax expense, net (7,228,934) (882,857) (4,772,648)
Net Income $ 12,348,721 $ 2,922,143 $ 14,666,874
Earnings Per Common Share:      
Basic and Diluted $ 1.34 $ 0.32 $ 1.61
Weighted Average Shares of Common Stock Outstanding:      
Basic and Diluted 9,182,425 9,159,809 9,107,070
Dividends declared per share $ 0.44 $ 0.41 $ 0.43