Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) $ (1,590) $ 7,772
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 97 111
Deferred income taxes $ 1 1
Litigation settlement   (1,300)
Share-based compensation   14
Loss on disposal of property and equipment   1
Change in operating assets and liabilities:    
Restricted cash $ (124) 355
Deferred course expenses (36) 3,864
Prepaid expenses and other receivables (317) (132)
Inventory (34) (89)
Other assets (13) (13)
Accounts payable-trade 592 895
Royalties payable 104 (156)
Accrued course expenses 770 390
Accrued salaries, wages and benefits 309 134
Other accrued expenses 1,339 266
Deferred revenue 1,101 (10,996)
Net cash provided by operating activities 2,199 1,117
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (59) (184)
Net cash used in investing activities (59) (184)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principle payments of debt $ (5) (335)
Proceeds from debt   $ 65
Proceeds from private offering of securities $ 459  
Net cash provided by (used in) financing activities 454 $ (270)
Effect of exchange rate differences on cash (430) (10)
Net increase in cash and cash equivalents 2,164 653
Cash and cash equivalents, beginning of period 2,932 5,554
Cash and cash equivalents, end of period 5,096 6,207
Supplemental disclosures:    
Cash paid during the period for income taxes, net of refunds received 34 1
Cash paid during the period for interest 4 $ 33
Derivative liability from issuance of warrants $ 164