General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income $ 420 $ 11,525 $ 16,009 $ 9,950
Less net income from discontinued operations 171 2,842 6,609
Net income from continuing operations 249 8,683 16,009 3,341
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Depreciation and amortization 4 47 69 162
Non-cash lease expense 20 22 45 60
Gain on the sale of fixed assets and investment property (33) (1,735) (41)
Share-based compensation 82 23 23 82
Cancellation of common stock     (11)
Amortization of debt discount 376    
Gain on debt extinguishment (PPP loan forgiveness) (910)      
Deferred income taxes 1,469 (476) 418 (1,512)
Changes in operating assets and liabilities:        
Deferred course expenses 875 3,086 4,941 (29)
Prepaid expenses and other receivable 481 8,603 710 921
Inventory 9 33 37 8
Other assets 24 49 (725)
Accounts payable-trade (412) 166 589 (377)
Royalties payable (11) (15) (29) (61)
Accrued course expenses (10) (187) (290) (530)
Accrued salaries, wages and benefits 8 (379) (386) (121)
Operating lease liability (20) (15) (41) (61)
Other accrued expenses (449) (6,449) 4,157 (2,395)
Deferred revenue (5,990) (18,253) (31,520) 1,646
Net cash used in operating activities - continuing operations (4,229) (5,120) (6,965) 368
Net cash (used in) provided by operating activities - discontinued operations (41) 43 (350)
Net cash used in operating activities (4,270) (5,077) (6,965) 18
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchases of property and equipment     (192)
Proceeds from sale of investment property 370 391
Proceeds from sale of property and equipment     2,500 165
Net cash provided by investing activities - continuing operations 370 2,891 (27)
Net cash used in investing activities - discontinued operations (8)
Net cash provided by investing activities 370 2,891 (35)
CASH FLOWS FROM FINANCING ACTIVITIES        
Principal payments on debt (8) (500) (1,500) (402)
Proceeds from issuance of debt 2,900 2,900 395
Proceeds from borrowing Paycheck Protection Program loan 1,900    
Proceeds from debentures including related parties 900    
Net cash provided by financing activities - continuing operations 2,792 2,400 1,400 (7)
Net cash provided by financing activities - discontinued operations
Net cash provided by financing activities 2,792 2,400 1,400 (7)
Effect of exchange rate differences on cash 98 (771) (860) 725
Net decrease in cash and cash equivalents and restricted cash (1,380) (3,078) (3,534) 701
Cash and cash equivalents and restricted cash, beginning of period, including cash in discontinued operations 2,694 6,228 6,228 5,527
Cash and cash equivalents and restricted cash, end of period 1,314 3,150 2,694 6,228
Supplemental disclosures:        
Cash paid during the period for interest 107 214 96
Cash received the period for income taxes, net of payments (85) 15
Supplemental disclosure of non-cash activity:        
Supplemental non-cash amounts of lease liabilities arising from obtaining right-of-use assets/(decrease) of lease liability due to cancellation of leases (34) (31) 176
Non-cash disposal of property     $ (363)
Common stock and warrants issued from conversion of senior convertible debenture – related party 355    
Initial recognition of beneficial conversion feature for senior secured convertible debt 896    
Note payable issued for insurance policy financing $ 26