Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Revenue $ 57,000 $ 1,379,000 $ 410,000 $ 7,361,000
Operating costs and expenses:        
Direct course expenses 66,000 675,000 270,000 1,899,000
Advertising and sales expenses 27,000 729,000 169,000 1,343,000
Royalty expenses 0 0 0 0
General and administrative expenses 579,000 1,172,000 1,888,000 3,568,000
Total operating costs and expenses 672,000 2,576,000 2,327,000 6,810,000
Income (loss) from operations (615,000) (1,197,000) (1,917,000) 551,000
Other expense:        
Interest expense, net (188,000) (35,000) (424,000) (421,000)
Other expense, net 9,000 3,000 6,000
Gain on forgiveness of PPP Loan 1,148,000 910,000 1,148,000 910,000
Total other expense, net 960,000 884,000 727,000 495,000
Income (loss) from continuing operations before income taxes 346,000 (313,000) (1,190,000) 1,046,000
Income tax (expense) benefit 118,000 136,000 (797,000)
Net income (loss) from continuing operations 346,000 (195,000) (1,054,000) 249,000
Income from discontinued operations 171,000
Net income from discontinued operations 171,000
Net income (loss) $ 346,000 $ (195,000) $ (1,054,000) $ 420,000
Basic earnings (loss) per common share - continuing operations $ 0.01 $ (0.01) $ (0.03) $ 0.02
Basic earnings (loss) per common share - discontinued operations
Basic earnings (loss) per common share 0.01 (0.01) (0.03) 0.02
Diluted earnings (loss) per common share - continuing operations 0.01 (0.01) (0.03) 0.01
Diluted earnings (loss) per common share - discontinued operations
Diluted earnings (loss) per common share $ 0.01 $ (0.01) $ (0.03) $ 0.01
Basic weighted average common shares outstanding 35,696 33,064 34,683 26,373
Diluted weighted average common shares outstanding 35,696 33,064 34,683 41,776
Comprehensive income:        
Net income (loss) $ 346,000 $ (195,000) $ (1,054,000) $ 420,000
Foreign currency translation adjustments, net of tax of $0 101,000 336,000 722,000 387,000
Total comprehensive income (loss) $ 447,000 $ 141,000 $ (332,000) $ 807,000