Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 253 $ 3,033
Less net income from discontinued operations 171 546
Net income from continuing operations 82 2,487
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 3 18
Non-cash lease expense 6 7
Gain on the sale of fixed assets and investment property (33)
Share-based compensation 6
Changes in operating assets and liabilities:    
Deferred course expenses 417 832
Prepaid expenses and other receivable 241 (215)
Inventory 1
Other assets 13
Accounts payable-trade (517) 656
Royalties payable (11) 30
Accrued course expenses (278)
Accrued salaries, wages and benefits 42 (383)
Operating lease liability (6) (3)
Other accrued expenses 1,100 (64)
Deferred revenue (2,780) (5,543)
Net cash used in operating activities - continuing operations (1,423) (2,469)
Net cash used in operating activities - discontinued operations (28) (81)
Net cash used in operating activities (1,451) (2,550)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of investment property 365
Net cash provided by investing activities - continuing operations 365
Net cash used in investing activities - discontinued operations
Net cash provided by investing activities 365
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of debt to related party 375
Net cash provided by financing activities - continuing operations 375
Net cash provided by financing activities - discontinued operations
Net cash provided by financing activities 375
Effect of exchange rate differences on cash 185 (533)
Net decrease in cash and cash equivalents and restricted cash (891) (2,718)
Cash and cash equivalents and restricted cash, beginning of period 2,680 6,228
Cash and cash equivalents and restricted cash, end of period 1,789 3,510
Supplemental disclosures:    
Cash paid during the period for interest 87
Cash paid during the period for income taxes, net of refunds received
Supplemental disclosure of non-cash activity:    
Initial recognition of beneficial conversion feature for senior secured convertible debenture – related party $ 375