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
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 3,669 $ 4,881
Restricted cash 3,373 2,946
Deferred course expenses 9,075 9,211
Prepaid expenses and other current assets 3,414 2,169
Inventory 421 492
Total current assets 19,952 19,699
Property and equipment, net 1,151 1,226
Other assets 241 200
Total assets 21,344 21,125
Current liabilities:    
Accounts payable 3,672 2,451
Royalties payable 252 163
Accrued course expenses 1,636 1,226
Accrued salaries, wages and benefits 1,063 1,258
Other accrued expenses 1,972 2,372
Long-term debt, current portion 11 10
Deferred revenue, current portion 54,104 60,698
Total current liabilities 62,710 68,178
Long-term debt, net of current portion 34 42
Deferred revenue, net of current portion 323 71
Other liabilities 45 45
Total liabilities 63,112 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, 22,630,927 and 21,845,927 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively 2 2
Additional paid-in capital 11,022 10,905
Cumulative foreign currency translation adjustment 4,220 1,680
Accumulated deficit (57,012) (59,798)
Total stockholders' deficit (41,768) (47,211)
Total liabilities and stockholders' deficit $ 21,344 $ 21,125