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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Jul. 31, 2018
Jul. 31, 2017
Cash flows from operating activities:    
Net loss $ (2,837,276) $ (767,079)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 121,805 63,000
Depreciation and amortization 498,105 138,720
Stock-based compensation 209,976 159,300
Amortization of prepaid shares for services 8,285
Changes in operating assets and liabilities:    
Accounts receivable (1,592,941) (699,020)
Prepaid expenses (229,168) (48,902)
Accrued interest receivable (18,400)
Other receivables 173,475 (138,966)
Accounts payable (728,230) 215,431
Accrued expenses 10,401 (54,827)
Deferred rent 217,433 (3,683)
Refunds due students 302,609 80,324
Deferred revenue 430,015 50,017
Other liabilities 27,301
Net cash used in operating activities (3,388,210) (1,024,085)
Cash flows from investing activities:    
Purchases of courseware and accreditation (42,917) (19,000)
Purchases of property and equipment (735,757) (261,409)
Net cash used in investing activities (778,674) (280,409)
Cash flows from financing activities:    
Disbursements for equity offering costs (29,832) (4,707)
Proceeds from warrant exercise 7,817 33,876
Purchase of treasury stock, net of broker fees (7,370,000)
Resale of treasury stock, net of broker fees 7,370,000
Offering costs paid on debt financing (267,323)
Senior secured loan 5,000,000
Net cash (used in) provided by financing activities (22,015) 4,761,846
Net (decrease) increase in cash and restricted cash (4,188,899) 3,457,352
Cash and restricted cash at beginning of period 14,803,065 2,756,217
Cash and restricted cash at end of period 10,614,166 6,213,569
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,346
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities    
Warrants issued as part of senior secured loan $ 478,428

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