Balance Sheet


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CONSOLIDATED BALANCE SHEETS - USD ($)
Apr. 30, 2018
Apr. 30, 2017
Current assets:    
Cash $ 14,612,559 $ 2,756,217
Restricted cash 190,506
Accounts receivable, net of allowance of $468,174 and $328,864, respectively 6,802,723 4,434,862
Prepaid expenses 199,406 133,531
Promissory note receivable 900,000
Other receivables 184,569 81,464
Accrued interest receivable 8,000
Total current assets 21,989,763 8,314,074
Property and equipment:    
Call center equipment 140,509 53,748
Computer and office equipment 230,810 103,649
Furniture and fixtures 932,454 255,984
Software 2,878,753 2,131,344
Total 4,182,526 2,544,725
Less accumulated depreciation and amortization (1,320,360) (1,090,010)
Total property and equipment, net 2,862,166 1,454,715
Goodwill 5,011,432
Intangible assets, net 9,641,667
Courseware, net 138,159 145,477
Accounts receivable, secured - net of allowance of $625,963, and $625,963, respectively 45,329 45,329
Long term contractual accounts receivable 1,315,050 657,542
Deposits and other assets 584,966 56,417
Total assets 41,588,532 10,673,554
Current liabilities:    
Accounts payable 2,227,214 756,701
Accrued expenses 658,854 262,911
Deferred revenue 1,814,136 1,354,989
Refunds due students 815,841 310,576
Deferred rent, current portion 8,160 11,200
Convertible notes payable, current portion 1,050,000 50,000
Other current liabilities 203,371
Total current liabilities 6,777,576 2,746,377
Convertible note payable 1,000,000
Warrant Liability 52,500
Deferred rent 77,365 34,437
Total liabilities 7,854,941 2,833,314
Commitments and contingencies - See Note 11
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized, 0 issued and outstanding at April 30, 2018 and 2017
Common stock, $0.001 par value; 250,000,000 shares authorized, 18,333,521 issued and 18,316,854 outstanding at April 30, 2018 13,504,012 issued and 13,487,345 outstanding at April 30, 2017 18,334 13,504
Additional paid-in capital 66,557,005 33,607,423
Treasury stock (16,667 shares) (70,000) (70,000)
Accumulated deficit (32,771,748) (25,710,687)
Total stockholders' equity 33,733,591 7,840,240
Total liabilities and stockholders' equity $ 41,588,532 $ 10,673,554

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