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

Consolidated Statements of Cash Flows

v3.21.4
Consolidated Statements of Cash Flows - USD ($)
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 $ 420,000 $ 11,525,000 $ 16,009,000 $ 9,950,000
Less net loss from discontinued operations 171,000 2,842,000   6,609,000
Net income from continuing operations 249,000 8,683,000   3,341,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Depreciation and amortization 4,000 47,000   162,000
Non-cash lease expense 20,000 22,000   60,000
Gain on the sale of fixed assets and investment property (33,000)   (41,000)
Share-based compensation 82,000 23,000   82,000
Amortization of debt discount 376,000    
Gain on debt extinguishment (PPP loan forgiveness) (910,000)    
Cancellation of common stock      
Deferred income taxes 1,469,000 (476,000)   (1,512,000)
Changes in operating assets and liabilities:        
Deferred course expenses 875,000 3,086,000   (29,000)
Prepaid expenses and other receivable 481,000 8,603,000   921,000
Inventory 9,000 33,000   8,000
Other assets 24,000   (725,000)
Accounts payable-trade (412,000) 166,000   (377,000)
Royalties payable (11,000) (15,000)   (61,000)
Accrued course expenses (10,000) (187,000)   (530,000)
Accrued salaries, wages and benefits 8,000 (379,000)   (121,000)
Operating lease liability (20,000) (15,000)   (61,000)
Other accrued expenses (449,000) (6,449,000)   (2,395,000)
Deferred revenue (5,990,000) (18,253,000)   1,646,000
Net cash (used in) provided by operating activities - continuing operations (4,229,000) (5,120,000)   368,000
Net cash used in operating activities - discontinued operations (41,000) 43,000   (350,000)
Net cash (used in) provided by operating activities (4,270,000) (5,077,000)   18,000
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchases of property and equipment       (192,000)
Proceeds from sale of investment property 370,000  
Proceeds from sale of property and equipment       165,000
Net cash provided by investing activities - continuing operations 370,000   (27,000)
Net cash used in investing activities - discontinued operations   (8,000)
Net cash provided by (used in) investing activities 370,000   (35,000)
CASH FLOWS FROM FINANCING ACTIVITIES        
Principal payments on debt (8,000) (500,000)   (402,000)
Proceeds from issuance of debt 2,900,000   395,000
Proceeds from borrowing Paycheck Protection Program loan 1,900,000    
Proceeds from debentures including related parties 900,000    
Net cash provided by (used in) financing activities - continuing operations 2,792,000 2,400,000   (7,000)
Net cash provided by financing activities - discontinued operations  
Net cash provided by (used in) financing activities 2,792,000 2,400,000   (7,000)
Effect of exchange rate differences on cash 98,000 (771,000)   725,000
Net (decrease) increase in cash and cash equivalents and restricted cash (1,380,000) (3,078,000)   701,000
Cash and cash equivalents and restricted cash, beginning of period, including cash in discontinued operations 2,694,000 6,228,000 6,228,000  
Cash and cash equivalents and restricted cash, end of period 1,314,000 3,150,000 2,694,000 6,228,000
Cash and cash equivalents and restricted cash, beginning of period 2,680,000 6,228,000 6,228,000 3,150,000
Cash and cash equivalents and restricted cash, end of period 1,314,000 6,228,000 2,680,000 6,228,000
Supplemental disclosures:        
Cash paid during the period for interest 107,000   96,000
Cash paid during the period for income taxes, net of refunds received (85,000)   15,000
Supplemental non-cash disclosures:        
Supplemental non-cash amounts of lease liabilities arising from (decrease of lease liability due to cancellation of leases)/obtaining right-of-use assets (34,000)   176,000
Common stock and warrants issued from conversion of senior convertible debenture – related party 355,000    
Initial recognition of beneficial conversion feature for senior secured convertible debt 896,000    
Note payable issued for insurance policy financing 26,000    
Non-cash disposal of property    
Previously Reported [Member]        
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income     16,009,000  
Less net loss from discontinued operations      
Net income from continuing operations     16,009,000  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Depreciation and amortization     69,000  
Non-cash lease expense     45,000  
Gain on the sale of fixed assets and investment property     (1,735,000)  
Share-based compensation     23,000  
Cancellation of common stock     (11,000)  
Deferred income taxes     418,000  
Changes in operating assets and liabilities:        
Deferred course expenses     4,941,000  
Prepaid expenses and other receivable     710,000  
Inventory     37,000  
Other assets     49,000  
Accounts payable-trade     589,000  
Royalties payable     (29,000)  
Accrued course expenses     (290,000)  
Accrued salaries, wages and benefits     (386,000)  
Operating lease liability     (41,000)  
Other accrued expenses     4,157,000  
Deferred revenue     (31,520,000)  
Net cash (used in) provided by operating activities - continuing operations     (6,965,000)  
Net cash used in operating activities - discontinued operations      
Net cash (used in) provided by operating activities     (6,965,000)  
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchases of property and equipment      
Proceeds from sale of investment property     391,000  
Proceeds from sale of property and equipment     2,500,000  
Net cash provided by investing activities - continuing operations     2,891,000  
Net cash used in investing activities - discontinued operations      
Net cash provided by (used in) investing activities     2,891,000  
CASH FLOWS FROM FINANCING ACTIVITIES        
Principal payments on debt     (1,500,000)  
Proceeds from issuance of debt     2,900,000  
Net cash provided by (used in) financing activities - continuing operations     1,400,000  
Net cash provided by financing activities - discontinued operations      
Net cash provided by (used in) financing activities     1,400,000  
Effect of exchange rate differences on cash     (860,000)  
Net (decrease) increase in cash and cash equivalents and restricted cash     (3,534,000)  
Cash and cash equivalents and restricted cash, beginning of period $ 2,694,000 $ 1,314,000 1,314,000  
Cash and cash equivalents and restricted cash, end of period     2,694,000 $ 1,314,000
Supplemental disclosures:        
Cash paid during the period for interest     214,000  
Cash paid during the period for income taxes, net of refunds received      
Supplemental non-cash disclosures:        
Supplemental non-cash amounts of lease liabilities arising from (decrease of lease liability due to cancellation of leases)/obtaining right-of-use assets     (31,000)  
Non-cash disposal of property     $ (363,000)