Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income/(loss) $ 3,033 $ (105)
Less net loss from discontinued operations (193)
Net income from continuing operations 3,033 88
Adjustments to reconcile net income/(loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 22 33
Non-cash lease expense 23 7
Gain on the sale of fixed assets and investment property (33) (10)
Share-based compensation 6 28
Deferred income taxes (83)
Changes in operating assets and liabilities:    
Deferred course expenses 1,050 (463)
Prepaid expenses and other receivable 134 330
Inventory 1 (6)
Other assets 12 (35)
Accounts payable-trade 794 (68)
Royalties payable 30 184
Accrued course expenses (382) 1,076
Accrued salaries, wages and benefits (383) (171)
Operating lease liability (18) (7)
Other accrued expenses 538 (1,131)
Deferred revenue (7,377) 3,101
Net cash (used in) provided by operating activities - continuing operations (2,550) 2,873
Net cash provided by operating activities - discontinued operations 665
Net cash provided by (used in) operating activities (2,550) 3,538
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (29)
Proceeds from sales of investment property 365
Proceeds from sales of property and equipment 165
Net cash provided by investing activities - continuing operations 365 136
Net cash provided by (used in) investing activities 365 136
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on debt (8)
Net cash (used in) financing activities - continuing operations (8)
Net cash provided by financing activities - discontinued operations 395
Net cash provided by (used in) financing activities 387
Effect of exchange rate differences on cash (422) 42
Net (decrease) increase in cash and cash equivalents and restricted cash (2,607) 4,103
Cash and cash equivalents and restricted cash, beginning of period 6,228 6,637
Cash and cash equivalents and restricted cash, end of period 3,621 10,740
Supplemental disclosures:    
Cash paid during the period for interest 87 42
Cash paid during the period for income taxes, net of refunds received $ 12