| Summary of quarterly financial data |
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For the Fiscal Quarter Ended |
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February 28,
2012 |
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May 31,
2012
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August 31,
2012 |
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November 30,
2012 |
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Sales revenue
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$ |
2,437,310 |
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$ |
1,439,958 |
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$ |
1,927,626 |
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$ |
2,216,128 |
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Lease income
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638,244 |
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638,244 |
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638,244 |
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638,243 |
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Total revenue
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3,075,554 |
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2,078,202 |
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2,565,870 |
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2,854,371 |
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Cost of sales
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2,004,672 |
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1,031,114 |
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1,381,161 |
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1,661,155 |
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Management fees, net of expense reimbursements
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247,381 |
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254,965 |
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298,051 |
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246,399 |
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All other expenses
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599,865 |
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892,759 |
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1,082,911 |
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1,117,268 |
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Total expenses
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2,851,918 |
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2,178,838 |
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2,762,123 |
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3,024,822 |
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Income (loss) from operations, before income taxes
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223,636 |
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(100,636 |
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(196,253 |
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(170,451 |
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Realized and unrealized gain on securities transactions, before income taxes
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8,931,466 |
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3,237,325 |
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8,492,502 |
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(479,416 |
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Distributions and income from investments, net
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85,262 |
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55,462 |
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(502,176 |
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82,057 |
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Interest Expense
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(27,409 |
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(25,229 |
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(16,780 |
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(11,705 |
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Total other income (loss) and expense, net, before income taxes
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8,989,319 |
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3,267,558 |
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7,973,546 |
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(409,064 |
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Income (loss) before income taxes
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9,212,955 |
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3,166,922 |
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7,777,293 |
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(579,515 |
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Current and deferred tax expense, net
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(3,465,914 |
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(1,190,162 |
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(2,788,785 |
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215,927 |
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Net income
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$ |
5,747,041 |
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$ |
1,976,760 |
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$ |
4,988,508 |
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$ |
(363,588 |
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Basic and diluted earnings (loss) per share
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$ |
0.63 |
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$ |
0.21 |
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$ |
0.54 |
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$ |
(.04 |
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For the Fiscal Quarter Ended |
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February 28,
2011 |
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May 31,
2011
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August 31,
2011 |
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November 30,
2011
(1) |
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Sales revenue
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
2,161,723 |
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Lease income
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— |
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— |
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425,496 |
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638,244 |
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Total revenue
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— |
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— |
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425,496 |
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2,799,967 |
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Cost of sales
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— |
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— |
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— |
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1,689,374 |
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Management fees, net of expense reimbursements
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234,680 |
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241,193 |
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248,367 |
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243,923 |
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All other expenses
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153,843 |
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157,012 |
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944,404 |
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746,580 |
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Total expenses
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388,523 |
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398,205 |
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1,192,771 |
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2,679,877 |
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Income (loss) from operations, before income taxes
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(388,523 |
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(398,205 |
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(767,275 |
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120,090 |
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Realized and unrealized gain (loss) on securities transactions, before income taxes
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677,745 |
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4,441,071 |
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2,043,019 |
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(2,578,087 |
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Distributions and income from investments, net
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561,786 |
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253,396 |
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(189,001 |
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25,492 |
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Other income
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— |
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40,000 |
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— |
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— |
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Interest Expense
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— |
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— |
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(14,064 |
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(22,444 |
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Total other income (loss) and expense, net, before income taxes
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1,239,531 |
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4,734,467 |
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1,839,954 |
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(2,575,039 |
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Income before Income Taxes
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851,008 |
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4,336,262 |
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1,072,679 |
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(2,454,949 |
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Current and deferred tax benefit (expense), net
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262,262 |
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(1,553,250 |
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(482,040 |
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890,171 |
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Net income (loss)
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$ |
1,113,270 |
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$ |
2,783,012 |
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$ |
590,639 |
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$ |
(1,564,778 |
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Basic and diluted earnings (loss) per share
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$ |
0.12 |
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$ |
0.30 |
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$ |
0.07 |
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$ |
(0.17 |
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