Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ (1,054) $ 420
Less net income from discontinued operations 171
Net income (loss) from continuing operations (1,054) 249
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 4
Non-cash lease expense 20 20
Gain on the sale of fixed assets and investment property
Share-based compensation 91 82
Cancellation of common stock
Amortization of debt discount 261 376
Gain on debt extinguishment (PPP loan forgiveness) (1,148) (910)
Deferred income taxes (158) 1,469
Changes in operating assets and liabilities:    
Deferred course expenses 61 875
Prepaid expenses and other receivable (56) 481
Inventory 9
Other assets 1
Accounts payable-trade (363) (412)
Royalties payable (11)
Accrued course expenses (85) (10)
Accrued salaries, wages and benefits (10) 8
Operating lease liability (20) (20)
Other accrued expenses (146) (449)
Deferred revenue (604) (5,990)
Net cash used in operating activities - continuing operations (3,210) (4,229)
Net cash (used in) provided by operating activities - discontinued operations (41)
Net cash used in operating activities (3,210) (4,270)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from the sale of investment property
Proceeds from sale property and equipment
Net cash provided by investing activities - continuing operations
Net cash used in investing activities - discontinued operations
Net cash provided by investing activities
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from debt 1,063 (8)
Proceeds from borrowing Paycheck Protection Program loan 1,900
Proceeds from paycheck protection program  
Proceeds from debentures including related parties 900
Issuance of common stock for stock option purchase
Net cash provided by financing activities - continuing operations 1,063 2,792
Net cash provided by financing activities - discontinued operations
Net cash provided by financing activities 1,063 2,792
Effect of exchange rate differences on cash 1,346 98
Net decrease in cash and cash equivalents and restricted cash (801) (1,380)
Cash and cash equivalents and restricted cash, beginning of period, including cash in discontinued operations 950 2,694
Cash and cash equivalents and restricted cash, end of period $ 149 $ 1,314