Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 1,711 $ 4,881
Restricted cash 3,148 2,946
Deferred course expenses 9,067 9,211
Prepaid expenses and other current assets 3,458 2,169
Inventory 348 492
Total current assets 17,732 19,699
Property and equipment, net 1,130 1,226
Deferred tax asset, net 1,295
Other assets 207 200
Total assets 20,364 21,125
Current liabilities:    
Accounts payable 3,344 2,451
Royalties payable 175 163
Accrued course expenses 1,082 1,226
Accrued salaries, wages and benefits 840 1,258
Other accrued expenses 2,052 2,372
Long-term debt, current portion 11 10
Deferred revenue, current portion 54,389 60,698
Total current liabilities 61,893 68,178
Long-term debt, net of current portion 31 42
Deferred revenue, net of current portion 235 71
Other liabilities 379 45
Total liabilities 62,538 68,336
Commitments and contingencies (Note 15)
Stockholders' deficit:    
Preferred stock, $0.0001 par value, 20,000,000 shares authorized, none issued
Common stock, $0.0001 par value, 200,000,000 shares authorized, 22,630,927 and 21,845,927 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively 2 2
Additional paid-in capital 11,073 10,905
Cumulative foreign currency translation adjustment 2,668 1,680
Accumulated deficit (55,917) (59,798)
Total stockholders' deficit (42,174) (47,211)
Total liabilities and stockholders' deficit $ 20,364 $ 21,125