Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.10.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 2,613 $ 6,005
Restricted cash 3,476 2,899
Deferred course expenses 8,881 9,417
Prepaid expenses and other current assets 5,179 6,408
Inventory 454 330
Total current assets 20,603 25,059
Property and equipment, net 1,597 1,187
Deferred tax asset, net 441
Other assets 216 333
Total assets 22,416 27,020
Current liabilities:    
Accounts payable 2,796 2,860
Royalties payable 293 188
Accrued course expenses 2,005 1,829
Accrued salaries, wages and benefits 898 1,506
Other accrued expenses 3,756 2,430
Long-term debt, current portion 12 11
Deferred revenue, current portion 55,078 57,151
Total current liabilities 64,838 65,975
Long-term debt, net of current portion 14 20
Deferred revenue, net of current portion 25 602
Deferred tax liability, net 78
Other liabilities 398 1,188
Total liabilities 65,353 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 June 30, 2018 and December 31, 2017, respectively 2 2
Additional paid-in capital 11,413 11,299
Cumulative foreign currency translation adjustment 541 (445)
Accumulated deficit (54,893) (51,621)
Total stockholders' deficit (42,937) (40,765)
Total liabilities and stockholders' deficit $ 22,416 $ 27,020