Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 3,839 $ 1,161
Restricted cash 2,389 4,366
Deferred course expenses 6,805 6,688
Prepaid expenses and other current assets 2,074 2,987
Inventory 47 55
Discontinued operations-current assets 3,148
Total current assets 15,154 18,405
Property and equipment, net 1,382 1,849
Right-of-use assets 122
Deferred tax asset, net 287 97
Other assets 413 35
Discontinued operations-other assets 174
Total assets 17,358 20,560
Current liabilities:    
Accounts payable 2,311 2,589
Royalties payable 150 210
Accrued course expenses 576 1,092
Accrued salaries, wages and benefits 459 574
Operating lease liability, current portion 86
Other accrued expenses 1,660 1,916
Long-term debt, current portion 500 512
Deferred revenue 46,453 44,167
Discontinued operations 4,499 16,822
Total current liabilities 56,694 67,882
Long-term debt, net of current portion 8
Operating lease liability, net of current portion 27
Other liabilities 1,331
Total liabilities 56,721 69,221
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 authorized; 23,162,502 and 23,120,852 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively 2 2
Additional paid-in capital 11,552 11,470
Cumulative foreign currency translation adjustment 710 1,444
Accumulated deficit (51,627) (61,577)
Total stockholders' deficit (39,363) (48,661)
Total liabilities and stockholders' deficit $ 17,358 $ 20,560