Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.8.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 7,162 $ 6,005
Restricted cash 3,127 2,899
Deferred course expenses 9,675 9,417
Prepaid expenses and other current assets 6,355 6,408
Inventory 346 330
Total current assets 26,665 25,059
Property and equipment, net 1,188 1,187
Deferred tax asset, net 592 441
Other assets 341 333
Total assets 28,786 27,020
Current liabilities:    
Accounts payable 3,926 2,860
Royalties payable 355 188
Accrued course expenses 2,151 1,829
Accrued salaries, wages and benefits 1,982 1,506
Other accrued expenses 3,514 2,430
Long-term debt, current portion 12 11
Deferred revenue, current portion 57,240 57,151
Total current liabilities 69,180 65,975
Long-term debt, net of current portion 17 20
Deferred revenue, net of current portion 306 602
Other liabilities 1,269 1,188
Total liabilities 70,772 67,785
Commitments and contingencies (Note 11)
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, 23,007,519 and 23,007,519 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 2 2
Additional paid-in capital 11,356 11,299
Cumulative foreign currency translation adjustment (866) (445)
Accumulated deficit (52,478) (51,621)
Total stockholders' deficit (41,986) (40,765)
Total liabilities and stockholders' deficit $ 28,786 $ 27,020