Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 112 $ 576
Restricted cash 111 374
Deferred course expenses 163 304
Prepaid expenses and other current assets 342 607
Inventory 1 1
Discontinued operations current assets
Total current assets 729 1,862
Right-of-use assets 113 20
Other assets 6 6
Discontinued operations-other assets 32 33
Total assets 880 1,921
Current liabilities:    
Accounts payable 2,577 2,544
Royalties payable 110 110
Accrued course expenses 237 252
Accrued salaries, wages and benefits 195 202
Operating lease liability, current portion 67 20
Other accrued expenses 2,940 2,114
Deferred revenue 3,470 4,438
Short-term related party debt, net of unamortized debt discount of $383 2,429 142
Current portion of long term debt, net of unamortized debt discount of $0 1,184 1,011
Discontinued operations-current liabilities 9,243 9,845
Total current liabilities 22,452 20,678
Long-term debt, net of current portion and net of unamortized debt discount 558 1,933
Deferred tax liability, net 796 1,493
Other long term liabilities
Operating lease liability, net of current portion 46
Total liabilities 23,852 24,104
Commitments and contingencies (Note 13)  
Stockholders’ deficit:    
Common stock, $0.0001 par value; 200,000,000 authorized; 38,182,697 and 37,867,697 shares issued and outstanding as of December 31, 2022 and December 31, 2021 3 3
Additional paid-in capital 13,217 13,161
Cumulative foreign currency translation adjustment 1,593 837
Accumulated deficit (37,695) (36,184)
Non Controlling Interest (91)  
Total stockholders’ deficit (22,973) (22,183)
Total liabilities and stockholders’ deficit $ 880 $ 1,921