Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 6,005 $ 1,711
Restricted cash 2,899 3,148
Deferred course expenses 9,417 9,067
Prepaid expenses and other current assets 6,408 3,458
Inventory 330 348
Total current assets 25,059 17,732
Property and equipment, net 1,187 1,130
Deferred tax asset, net 441 1,295
Other assets 333 207
Total assets 27,020 20,364
Current liabilities:    
Accounts payable 2,860 3,344
Royalties payable 188 175
Accrued course expenses 1,829 1,082
Accrued salaries, wages and benefits 1,506 840
Other accrued expenses 2,430 2,052
Long-term debt, current portion 11 11
Deferred revenue, current portion 57,151 54,389
Total current liabilities 65,975 61,893
Long-term debt, net of current portion 20 31
Deferred revenue, net of current portion 602 235
Other liabilities 1,188 379
Total liabilities 67,785 62,538
Commitments and contingencies (Note 10)
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, 23,007,519 and 22,630,927 shares issued and outstanding at December 31, 2017 and 2016, respectively 2 2
Additional paid-in capital 11,299 11,073
Cumulative foreign currency translation adjustment (445) 2,668
Accumulated deficit (51,621) (55,917)
Total stockholders' deficit (40,765) (42,174)
Total liabilities and stockholders' deficit $ 27,020 $ 20,364