Secured Note and Accounts Receivable
|6 Months Ended|
Oct. 31, 2021
|Due from Related Parties, Unclassified [Abstract]|
|Secured Note and Accounts Receivable||Secured Note and Accounts ReceivableOn March 30, 2008 and December 1, 2008, Aspen University sold courseware pursuant to marketing agreements to Higher Education Management Group, Inc. (“HEMG”), which was then a related party and principal stockholder of the Company. As discussed in Note 11, the Company and Aspen University sued HEMG seeking to recover sums due under the agreements. Ultimately, the Company and Aspen University obtained a favorable default judgment, and as a result received a distribution from the bankruptcy trustee court of $498,120, which is included in "other (expense) income, net" in the accompanying unaudited consolidated statements of operations for the six months ended October 31, 2021. Due to the bankruptcy of HEMG, the Company also wrote off a net receivable of $45,329|
The entire disclosure for information about secured notes and accounts receivable related to related parties.
No definition available.