|9 Months Ended|
Sep. 30, 2019
|Subsequent Events [Abstract]|
Note 13 – Subsequent Events
In the Matter of Legacy Education Alliance International Ltd., CR-2019-007199. On October 28, 2019, an Application for Administration was filed in the High Court of Justice, Business and Property Courts of England and Wales, whereby four creditors of Legacy Education Alliance, International Ltd., one of our UK subsidiaries, seek an administration order with respect to the business affairs of the subsidiary, the appointment of an administrator, and such other ancillary orders as the applicants may request or as the court deems appropriate. We are opposing the Application for Administration. The matter was adjourned until November 15, 2019 to allow the parties the opportunity to negotiate a Company Voluntary Arrangement ("CVA"), but there can be no assurances that an agreement with the claimants will be reached or that an Order of Administration will not be issued.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef