Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,373 $ 1,500
Restricted cash 631 1,180
Deferred course expenses 394 1,167
Prepaid expenses and other current assets 942 1,578
Inventory 10 10
Discontinued operations current assets 820
Total current assets 3,350 6,255
Property and equipment, net 4
Right-of-use assets 32 45
Other assets 6 6
Discontinued operations-other assets 34 34
Total assets 3,422 6,344
Current liabilities:    
Accounts payable 1,376 1,762
Royalties payable 110 113
Accrued course expenses 279 277
Accrued salaries, wages and benefits 36 73
Operating lease liability, current portion 26 25
Other accrued expenses 4,779 3,888
Deferred revenue 5,084 10,382
Current portion of long term debt 1,905
Discontinued operations-current liabilities 10,064 11,286
Total current liabilities 23,659 27,806
Long-term debt, net of current portion 1,900 1,900
Deferred tax liability, net 44 134
Other long term liabilities 120
Operating lease liability, net of current portion 7 20
Total liabilities 25,610 29,980
Commitments and contingencies (Note 13)
Stockholders’ deficit:    
Preferred stock, $0.0001 par value, 20,000,000 shares authorized, none issued
Common stock, $0.0001 par value; 200,000,000 authorized; 32,947,697 and 23,279,197 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively 3 2
Additional paid-in capital 12,345 11,564
Cumulative foreign currency translation adjustment 467 416
Accumulated deficit (35,003) (35,618)
Total stockholders’ deficit (22,188) (23,636)
Total liabilities and stockholders’ deficit $ 3,422 $ 6,344