Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.1.900
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 4,881 $ 2,932
Restricted cash 2,946 1,843
Deferred course expenses 9,211 8,722
Prepaid expenses and other current assets 2,169 2,528
Inventory 492 161
Total current assets 19,699 16,186
Property and equipment, net 1,226 1,324
Other assets 200 217
Total assets 21,125 17,727
Current liabilities:    
Accounts payable 2,451 2,620
Royalties payable 163 104
Accrued course expenses 1,226 1,060
Accrued salaries, wages and benefits 1,258 564
Other accrued expenses 2,372 2,967
Long-term debt, current portion 10 9
Deferred revenue, current portion 60,698 56,140
Total current liabilities 68,178 63,464
Long-term debt, net of current portion 42 52
Deferred revenue, net of current portion 71 238
Other liabilities 45 126
Total liabilities $ 68,336 $ 63,880
Commitments and contingencies (Note 15)
Stockholders' deficit:    
Preferred stock, $0.0001 par value, 20,000,000 shares authorized, none issued
Common stock, $0.0001 par value, 200,000,000 shares authorized, 21,845,927 shares issued and outstanding at December 31, 2015; 20,000,518 shares issued and outstanding at December 31, 2014 $ 2 $ 2
Additional paid-in capital 10,905 10,547
Cumulative foreign currency translation adjustment 1,680 370
Accumulated deficit (59,798) (57,072)
Total stockholders' deficit (47,211) (46,153)
Total liabilities and stockholders' deficit $ 21,125 $ 17,727