Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,159 $ 1,500
Restricted cash 630 1,180
Deferred course expenses 752 1,167
Prepaid expenses and other current assets 1,204 1,578
Inventory 10 10
Discontinued operations - current assets 820
Total current assets 3,755 6,255
Property and equipment, net 1 4
Right-of-use assets 39 45
Other assets 6 6
Discontinued operations - other assets 34 34
Total assets 3,835 6,344
Current liabilities:    
Accounts payable 1,299 1,762
Royalties payable 110 113
Accrued course expenses 278 277
Accrued salaries, wages and benefits 115 73
Operating lease liability, current portion 26 25
Other accrued expenses 5,155 3,888
Convertible note – related party, net of debt discount of $375 and $0
Deferred revenue 7,612 10,382
Discontinued operations - current liabilities 10,092 11,286
Total current liabilities 24,687 27,806
Long-term debt, net of current portion 1,900 1,900
Deferred tax liability, net 80 134
Other long-term liabilities 60 120
Operating lease liability, net of current portion 13 20
Total liabilities 26,740 29,980
Commitments and contingencies (Note 12)
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; 23,279,197 and 23,279,197 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively 2 2
Additional paid-in capital 11,939 11,564
Cumulative foreign currency translation adjustment 519 416
Accumulated deficit (35,365) (35,618)
Total stockholders’ deficit (22,905) (23,636)
Total liabilities and stockholders’ deficit $ 3,835 $ 6,344