Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (857) $ (310)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 29 33
Gain on change in fair value of derivatives (22) (72)
Share-based compensation 57 51
Deferred income taxes (69) (555)
Changes in operating assets and liabilities:    
Deferred course expenses (121) (717)
Prepaid expenses and other receivable 148 (229)
Inventory (15) (12)
Other assets (3) (27)
Accounts payable-trade 1,074 (143)
Royalties payable 167 146
Accrued course expenses 273 1,205
Accrued salaries, wages and benefits 468 16
Other accrued expenses 1,253 432
Deferred revenue (937) 1,832
Other liabilities 212
Net cash provided by operating activities 1,445 1,862
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (29) (81)
Net cash used in investing activities (29) (81)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on debt (3) (3)
Net cash used in financing activities (3) (3)
Effect of exchange rate differences on cash (28) 5
Net increase in cash and cash equivalents and restricted cash 1,385 1,783
Cash and cash equivalents and restricted cash, beginning of period 8,904 4,859
Cash and cash equivalents and restricted cash, end of period 10,289 6,642
Supplemental disclosures:    
Cash paid during the period for interest 4 3
Cash paid during the period for income taxes, net of refunds received $ 40