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Consolidated Statements of Income (Unaudited) (USD $)
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3 Months Ended | 6 Months Ended | ||
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May 31, 2012
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May 31, 2011
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May 31, 2012
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May 31, 2011
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| Revenue | ||||
| Sales revenue | $ 1,439,958 | $ 3,877,268 | ||
| Lease income | 638,244 | 1,276,488 | ||
| Total Revenue | 2,078,202 | 5,153,756 | ||
| Expenses | ||||
| Cost of sales (excluding depreciation expense) | 1,031,114 | 3,035,786 | ||
| Management fees, net of expense reimbursements | 254,965 | 241,193 | 502,346 | 475,873 |
| Asset acquisition expense | 94,699 | 94,699 | ||
| Professional fees | 268,935 | 82,952 | 377,513 | 163,828 |
| Depreciation expense | 246,828 | 493,633 | ||
| Operating expenses | 189,165 | 361,806 | ||
| Directors' fees | 14,730 | 15,396 | 29,311 | 29,969 |
| Interest expense | 25,229 | 52,638 | ||
| Other expenses | 78,402 | 58,664 | 135,662 | 117,058 |
| Total Expenses | 2,204,067 | 398,205 | 5,083,394 | 786,728 |
| Gain (loss) from Operations | (125,865) | (398,205) | 70,362 | (786,728) |
| Other Income | ||||
| Net distributions and dividend income on securities | 55,462 | 293,396 | 140,724 | 855,182 |
| Net realized and unrealized gain (loss) on trading securities | (3,600,082) | (200,409) | (737,810) | 1,221,919 |
| Net realized and unrealized gain on other equity securities | 6,837,407 | 4,641,480 | 12,906,601 | 3,896,897 |
| Total Other Income | 3,292,787 | 4,734,467 | 12,309,515 | 5,973,998 |
| Income before income taxes | 3,166,922 | 4,336,262 | 12,379,877 | 5,187,270 |
| Taxes | ||||
| Current tax expense | (200,000) | (10,000) | (200,000) | |
| Deferred tax expense | (1,190,162) | (1,353,250) | (4,646,076) | (1,090,988) |
| Income tax expense, net | (1,190,162) | (1,553,250) | (4,656,076) | (1,290,988) |
| Net Income | $ 1,976,760 | $ 2,783,012 | $ 7,723,801 | $ 3,896,282 |
| Earnings Per Common Share: | ||||
| Basic and Diluted | $ 0.22 | $ 0.30 | $ 0.84 | $ 0.43 |
| Weighted Average Shares of Common Stock Outstanding: | ||||
| Basic and Diluted | 9,180,935 | 9,156,931 | 9,178,923 | 9,151,776 |
| Dividends declared per share | $ 0.11 | $ 0.10 | $ 0.22 | $ 0.20 |
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- Definition
Costs incurred directly related to potential acquisitions. No definition available.
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs related to services rendered by an entity during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of interest and dividend income, including amortization of the premium and discount on securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate net change in the difference between the fair value and the carrying value, or in the comparative fair values, of marketable securities categorized as trading held at each balance sheet date, that was included in earnings for the period, which may have arisen from (a) securities classified as trading, (b) the unrealized holding gain (loss) on held-to-maturity securities transferred to the trading security category, and (c) the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) on available-for-sale securities transferred to trading securities during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Noninterest expense related to directors' fees which are fees paid by an Entity to its directors. Directors' fees may be paid in addition to salary and other benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Other noninterest expenses that are not separately presented in any other noninterest expense category. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount of the quarterly rental payments due under the lease entered into in connection with the transactions involving the sale of property to another party and the lease of the property back to the seller. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue derived from energy-related services such as supplying various forms of energy from the operation of on-site facilities or cogeneration plants and procurement services provided to energy purchasers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) resulting in a loss from the difference between the fair value and the carrying value, or in the comparative fair values, of trading securities held at each balance sheet date, that was included in earnings for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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