Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 9 Months Ended
Jan. 31, 2015
Jan. 31, 2014
Cash flows from operating activities:    
Net loss $ (3,239,731)us-gaap_NetIncomeLoss $ (4,227,585)us-gaap_NetIncomeLoss
Less income from discontinued operations    84,663us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Loss from continuing operations (3,239,731)us-gaap_IncomeLossFromContinuingOperations (4,312,248)us-gaap_IncomeLossFromContinuingOperations
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 117,739us-gaap_ProvisionForDoubtfulAccounts 148,837us-gaap_ProvisionForDoubtfulAccounts
Receivable collateral valuation reserve    123,647aspu_ReceivableCollateralValuationService
Amortization of debt issuance costs 75,458us-gaap_AmortizationOfFinancingCosts 77,058us-gaap_AmortizationOfFinancingCosts
Amortization of debt discount 166,241us-gaap_AmortizationOfDebtDiscountPremium 174,351us-gaap_AmortizationOfDebtDiscountPremium
Extinguishment of debentures 416,587aspu_ExtinguishmentOfDebtGainLossNoncash   
Depreciation and amortization 389,706us-gaap_DepreciationDepletionAndAmortization 350,990us-gaap_DepreciationDepletionAndAmortization
Stock-based compensation 334,723us-gaap_ShareBasedCompensation 395,940us-gaap_ShareBasedCompensation
Warrant modification expense    156,952aspu_StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesModificationExpense
Amortization of prepaid shares for services    285,084us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Changes in operating assets and liabilities:    
Accounts receivable (356,348)us-gaap_IncreaseDecreaseInAccountsReceivable (443,863)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses (20,135)us-gaap_IncreaseDecreaseInPrepaidExpense 58,922us-gaap_IncreaseDecreaseInPrepaidExpense
Other assets (1,497)us-gaap_IncreaseDecreaseInOtherNoncurrentAssets   
Accounts payable 4,214us-gaap_IncreaseDecreaseInAccountsPayable 63,195us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses 111,238us-gaap_IncreaseDecreaseInAccruedLiabilities 4,578us-gaap_IncreaseDecreaseInAccruedLiabilities
Deferred rent (9,700)us-gaap_IncreaseDecreaseInDeferredLiabilities (7,239)us-gaap_IncreaseDecreaseInDeferredLiabilities
Refunds due students 85,040aspu_IncreaseDecreaseInRefundsDueStudents (18,572)aspu_IncreaseDecreaseInRefundsDueStudents
Deferred revenue 63,124us-gaap_IncreaseDecreaseInDeferredRevenue (98,430)us-gaap_IncreaseDecreaseInDeferredRevenue
Net cash used in operating activities (1,863,341)us-gaap_NetCashProvidedByUsedInOperatingActivities (3,040,798)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Purchases of property and equipment (277,133)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (298,140)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Purchases of courseware (109,305)us-gaap_PaymentsToAcquireIntangibleAssets (4,499)us-gaap_PaymentsToAcquireIntangibleAssets
Increase in restricted cash (19,927)us-gaap_IncreaseDecreaseInRestrictedCash (406)us-gaap_IncreaseDecreaseInRestrictedCash
Net cash used in investing activities (406,365)us-gaap_NetCashProvidedByUsedInInvestingActivities (303,045)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Proceeds from (repayments on) line of credit, net (186)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit (5,825)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
Proceeds from issuance of common shares and warrants, net 5,547,826us-gaap_ProceedsFromIssuanceOfCommonStock   
Proceeds from (retirement of) convertible notes and warrants, net of costs (2,240,000)us-gaap_ProceedsFromConvertibleDebt 1,639,298us-gaap_ProceedsFromConvertibleDebt
Retirement of convertible notes payable (25,000)us-gaap_RepaymentsOfNotesPayable  
Proceeds from loan from related party    1,000,000us-gaap_ProceedsFromRelatedPartyDebt
Proceeds from warrant exercise    804,049us-gaap_ProceedsFromWarrantExercises
Offering costs associated with private placement (107,225)us-gaap_PaymentsOfStockIssuanceCosts (48,240)us-gaap_PaymentsOfStockIssuanceCosts
Net cash provided by financing activities 3,175,415us-gaap_NetCashProvidedByUsedInFinancingActivities 3,389,282us-gaap_NetCashProvidedByUsedInFinancingActivities
Cash flows from discontinued operations:    
Cash flows from operating activities 5,250us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations 80,206us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
Net cash provided by discontinued operations 5,250us-gaap_NetCashProvidedByUsedInDiscontinuedOperations 80,206us-gaap_NetCashProvidedByUsedInDiscontinuedOperations
Net increase in cash and cash equivalents 910,959us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 125,645us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 247,380us-gaap_CashAndCashEquivalentsAtCarryingValue 724,982us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 1,158,339us-gaap_CashAndCashEquivalentsAtCarryingValue 850,627us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:    
Cash paid for interest 212,955us-gaap_InterestPaid 95,653us-gaap_InterestPaid
Cash paid for income taxes      
Supplemental disclosure of non-cash investing and financing activities    
Common stock issued for services 32,632us-gaap_StockIssued1 216,000us-gaap_StockIssued1
Common stock issued from conversion of notes 100,000us-gaap_DebtConversionConvertedInstrumentAmount1   
Warrant value recorded as debt issue cost    94,316aspu_WarrantValueRecordedAsDebtIssueCost
Warrant value recorded as debt discount    $ 389,565aspu_WarrantValueRecordedAsDebtDiscount