v3.19.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Jan. 31, 2019
Apr. 30, 2018
Current assets:    
Cash $ 4,197,235 $ 14,612,559
Restricted cash 192,692 190,506
Accounts receivable, net of allowance of $903,450 and $468,174, respectively 9,278,751 6,802,723
Prepaid expenses 343,215 199,406
Other receivables 79,235 184,569
Total current assets 14,091,128 21,989,763
Property and equipment:    
Call center equipment 173,077 140,509
Computer and office equipment 301,548 230,810
Furniture and fixtures 1,310,139 932,454
Software 3,869,750 2,878,753
Total 5,654,514 4,182,526
Less accumulated depreciation and amortization (1,622,908) (1,320,360)
Total property and equipment, net 4,031,606 2,862,166
Goodwill 5,011,432 5,011,432
Intangible assets, net 8,816,667 9,641,667
Courseware and accreditation, net 179,154 138,159
Accounts receivable, secured - net of allowance of $625,963, and $625,963, respectively 45,329 45,329
Long term contractual accounts receivable 2,568,532 1,315,050
Debt issue cost, net 330,414
Other assets 607,812 584,966
Total assets 35,682,074 41,588,532
Current liabilities:    
Accounts payable 1,709,233 2,227,214
Accrued expenses 570,806 658,854
Deferred revenue 2,699,227 1,814,136
Refunds due students 1,370,060 815,841
Deferred rent, current portion 18,818 8,160
Convertible notes payable, current portion 1,050,000 1,050,000
Other current liabilities 291,703 203,371
Total current liabilities 7,709,847 6,777,576
Convertible note 1,000,000
Deferred rent 705,420 77,365
Total liabilities 8,415,267 7,854,941
Commitments and contingencies - See Note 6
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized, 0 issued and outstanding at January 31, 2019 and April 30, 2018
Common stock, $0.001 par value; 250,000,000 shares authorized,18,505,869 issued and 18,489,202 outstanding at January 31, 2019, 18,333,521 issued and 18,316,854 outstanding at April 30,2018 18,506 18,334
Additional paid-in capital 67,758,344 66,557,005
Treasury stock (16,667 shares) (70,000) (70,000)
Accumulated deficit (40,440,043) (32,771,748)
Total stockholders' equity 27,266,807 33,733,591
Total liabilities and stockholders' equity $ 35,682,074 $ 41,588,532

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