Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data (Tables)

v2.4.0.6
Quarterly Financial Data (Tables)
12 Months Ended
Nov. 30, 2012
Quarterly Financial Data [Abstract]  
Summary of quarterly financial data
                                 
    For the Fiscal Quarter Ended  
    February 28,
2012
    May 31,
2012
    August 31,
2012
    November 30,
2012
 

Sales revenue

  $ 2,437,310     $ 1,439,958     $ 1,927,626     $ 2,216,128  

Lease income

    638,244       638,244       638,244       638,243  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total revenue

    3,075,554       2,078,202       2,565,870       2,854,371  
   

 

 

   

 

 

   

 

 

   

 

 

 

Cost of sales

    2,004,672       1,031,114       1,381,161       1,661,155  

Management fees, net of expense reimbursements

    247,381       254,965       298,051       246,399  

All other expenses

    599,865       892,759       1,082,911       1,117,268  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total expenses

    2,851,918       2,178,838       2,762,123       3,024,822  
   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations, before income taxes

    223,636       (100,636     (196,253     (170,451
   

 

 

   

 

 

   

 

 

   

 

 

 

Realized and unrealized gain on securities transactions, before income taxes

    8,931,466       3,237,325       8,492,502       (479,416

Distributions and income from investments, net

    85,262       55,462       (502,176     82,057  

Interest Expense

    (27,409     (25,229     (16,780     (11,705
   

 

 

   

 

 

   

 

 

   

 

 

 

Total other income (loss) and expense, net, before income taxes

    8,989,319       3,267,558       7,973,546       (409,064
   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) before income taxes

    9,212,955       3,166,922       7,777,293       (579,515
   

 

 

   

 

 

   

 

 

   

 

 

 

Current and deferred tax expense, net

    (3,465,914     (1,190,162     (2,788,785     215,927  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

  $ 5,747,041     $ 1,976,760     $ 4,988,508     $ (363,588
   

 

 

   

 

 

   

 

 

   

 

 

 

Basic and diluted earnings (loss) per share

  $ 0.63     $ 0.21     $ 0.54     $ (.04
   

 

 

   

 

 

   

 

 

   

 

 

 

 

                                 
    For the Fiscal Quarter Ended  
    February 28,
2011
    May 31,
2011
    August 31,
2011
    November 30,
2011 (1)
 

Sales revenue

  $ —       $ —       $ —       $ 2,161,723  

Lease income

    —         —         425,496       638,244  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total revenue

    —         —         425,496       2,799,967  
   

 

 

   

 

 

   

 

 

   

 

 

 

Cost of sales

    —         —         —         1,689,374  

Management fees, net of expense reimbursements

    234,680       241,193       248,367       243,923  

All other expenses

    153,843       157,012       944,404       746,580  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total expenses

    388,523       398,205       1,192,771       2,679,877  
   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations, before income taxes

    (388,523     (398,205     (767,275     120,090  
   

 

 

   

 

 

   

 

 

   

 

 

 

Realized and unrealized gain (loss) on securities transactions, before income taxes

    677,745       4,441,071       2,043,019       (2,578,087

Distributions and income from investments, net

    561,786       253,396       (189,001     25,492  

Other income

    —         40,000       —         —    

Interest Expense

    —         —         (14,064     (22,444
   

 

 

   

 

 

   

 

 

   

 

 

 

Total other income (loss) and expense, net, before income taxes

    1,239,531       4,734,467       1,839,954       (2,575,039
   

 

 

   

 

 

   

 

 

   

 

 

 

Income before Income Taxes

    851,008       4,336,262       1,072,679       (2,454,949
   

 

 

   

 

 

   

 

 

   

 

 

 

Current and deferred tax benefit (expense), net

    262,262       (1,553,250     (482,040     890,171  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

  $ 1,113,270     $ 2,783,012     $ 590,639     $ (1,564,778
   

 

 

   

 

 

   

 

 

   

 

 

 

Basic and diluted earnings (loss) per share

  $ 0.12     $ 0.30     $ 0.07     $ (0.17