Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 4,971 $ 4,881
Restricted cash 3,612 2,946
Deferred course expenses 9,072 9,211
Prepaid expenses and other current assets 2,570 2,169
Inventory 301 492
Total current assets 20,526 19,699
Property and equipment, net 1,183 1,226
Other assets 224 200
Total assets 21,933 21,125
Current liabilities:    
Accounts payable 4,401 2,451
Royalties payable 266 163
Accrued course expenses 1,540 1,226
Accrued salaries, wages and benefits 629 1,258
Other accrued expenses 2,089 2,372
Long-term debt, current portion 10 10
Deferred revenue, current portion 56,313 60,698
Total current liabilities 65,248 68,178
Long-term debt, net of current portion 37 42
Deferred revenue, net of current portion 164 71
Other liabilities 44 45
Total liabilities 65,493 68,336
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, 21,845,927 shares issued and outstanding at June 30, 2016 and December 31, 2015 2 2
Additional paid-in capital 10,979 10,905
Cumulative foreign currency translation adjustment 3,639 1,680
Accumulated deficit (58,180) (59,798)
Total stockholders' deficit (43,560) (47,211)
Total liabilities and stockholders' deficit $ 21,933 $ 21,125