Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.7.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 2,973 $ 1,711
Restricted cash 3,669 3,148
Deferred course expenses 9,818 9,067
Prepaid expenses and other current assets 3,707 3,458
Inventory 363 348
Total current assets 20,530 17,732
Property and equipment, net 1,179 1,130
Deferred tax asset, net 1,497 1,295
Other assets 286 207
Total assets 23,492 20,364
Current liabilities:    
Accounts payable 3,226 3,344
Royalties payable 322 175
Accrued course expenses 2,296 1,082
Accrued salaries, wages and benefits 857 840
Other accrued expenses 2,406 2,052
Long-term debt, current portion 11 11
Deferred revenue, current portion 55,268 54,389
Total current liabilities 64,386 61,893
Long-term debt, net of current portion 28 31
Deferred revenue, net of current portion 688 235
Other liabilities 591 379
Total liabilities 65,693 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, 22,630,927 and 22,630,927 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 2 2
Additional paid-in capital 11,124 11,073
Cumulative foreign currency translation adjustment 2,370 2,668
Accumulated deficit (55,697) (55,917)
Total stockholders' deficit (42,201) (42,174)
Total liabilities and stockholders' deficit $ 23,492 $ 20,364