v3.10.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Oct. 31, 2018
Apr. 30, 2018
Current assets:    
Cash $ 7,723,808 $ 14,612,559
Restricted cash 190,506 190,506
Accounts receivable, net of allowance of $736,103 and $468,174, respectively 10,040,398 6,802,723
Prepaid expenses 430,072 199,406
Other receivables 5,373 184,569
Total current assets 18,390,157 21,989,763
Property and equipment:    
Call center equipment 166,051 140,509
Computer and office equipment 294,419 230,810
Furniture and fixtures 1,271,536 932,454
Software 3,485,118 2,878,753
Total 5,217,124 4,182,526
Less accumulated depreciation and amortization (1,450,025) (1,320,360)
Total property and equipment, net 3,767,099 2,862,166
Goodwill 5,011,432 5,011,432
Intangible assets and accreditation, net 9,091,667 9,641,667
Courseware and accreditation, net 192,652 138,159
Accounts receivable, secured - net of allowance of $625,963 and $625,963, respectively 45,329 45,329
Long term contractual accounts receivable 1,812,629 1,315,050
Other assets 605,812 584,966
Total assets 38,916,777 41,588,532
Current liabilities:    
Accounts payable 1,625,989 2,227,214
Accrued expenses 731,591 658,854
Deferred revenue 3,445,306 1,814,136
Refunds due students 1,181,939 815,841
Deferred rent, current portion 12,247 8,160
Convertible notes payable, current portion 1,050,000 1,050,000
Other current liabilities 375,749 203,371
Total current liabilities 8,422,821 6,777,576
Convertible note 1,000,000 1,000,000
Deferred rent 527,158 77,365
Total liabilities 9,949,979 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 October 31, 2018 and April 30, 2018
Common stock, $0.001 par value; 250,000,000 shares authorized, 18,391,092 issued and 18,374,425 outstanding at October 31, 2018 18,333,521 issued and 18,316,854 outstanding at April 30, 2018 18,391 18,334
Additional paid-in capital 67,102,509 66,557,005
Treasury stock (16,667 shares) (70,000) (70,000)
Accumulated deficit (38,084,102) (32,771,748)
Total stockholders' equity 28,966,798 33,733,591
Total liabilities and stockholders' equity $ 38,916,777 $ 41,588,532

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