Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.20.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 1,510 $ 3,839
Restricted cash 2,111 2,389
Deferred course expenses 5,513 6,805
Prepaid expenses and other current assets 1,786 2,074
Inventory 45 47
Total current assets 10,965 15,154
Property and equipment, net 1,339 1,382
Right-of-use assets 50 122
Deferred tax asset, net 269 287
Other assets 41 413
Total assets 12,664 17,358
Current liabilities:    
Accounts payable 3,037 2,311
Royalties payable 133 150
Accrued course expenses 153 576
Accrued salaries, wages and benefits 78 459
Operating lease liability, current portion 23 86
Other accrued expenses 1,810 1,660
Note payable 500 500
Deferred revenue 37,101 46,453
Discontinued operations-current liabilities 4,216 4,499
Total current liabilities 47,051 56,694
Operating lease liability, net of current portion 27 27
Total liabilities 47,078 56,721
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 authorized; 23,162,502 and 23,162,502 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively 2 2
Additional paid-in capital 11,558 11,552
Cumulative foreign currency translation adjustment 2,620 710
Accumulated deficit (48,594) (51,627)
Total stockholders' deficit (34,414) (39,363)
Total liabilities and stockholders' deficit $ 12,664 $ 17,358