Aspen group, inc. (ASPU)
CashFlow / Yearly
Apr'19Apr'18Apr'17Apr'16Apr'15Apr'14Dec'12Feb'12Dec'11Feb'11Dec'10
Cash flows from operating activities:
Net loss

-9,278

-7,061

-1,105

-2,246

-4,268

-5,350

-6,010

-28

-2,135

-9

-465

Less income from discontinued operations

-

-

-

-

-

84

136

-

-

-

-

Income (loss) from discontinued operations, net of income taxes

-

-

-

-

-

-

-

-

457

-

-

Loss from continuing operations

-

-

-

-

-

-5,435

-6,147

-

-2,593

-

-

Adjustments to reconcile net loss to net cash used in operating activities:
Bad debt expense

854

535

44

170

156

154

133

-

21

-

23

Gain on extinguishment of warrant liability

-

52

0

-

-

-

-

-

-

-

-

Extinguishment of debentures

-

-

-

-

-416

0

-

-

-

-

-

Gain on disposal of property and equipment

-

-

-

-

-

-

5

-

0

-

338

Depreciation and amortization

2,170

1,092

556

598

528

474

397

-

264

-

-

Loss on settlement of accrued interest

-

-

-

-

-

-

-3

-

-

-

-

Issuance of convertible notes in exchange for services rendered

-

-

-

-

-

-

38

-

-

-

-

Loss on settlement of accrued interest

-

-

-

-

-

-

-

-

0

-

-

Issuance of convertible notes in exchange for services rendered

-

-

-

-

-

-

-

-

22

-

0

Stock-based compensation

1,190

642

338

308

456

608

347

-

0

-

-

Warrants issued for services

1

-

-

-

-

-

-

-

-

-

-

Loss on asset disposition

-

-27

0

-

-

-

-

-

-

-

-

Amortization and write-off origination fees

-

829

112

0

-

-

-

-

-

-

-

Amortization of debt discounts

40

-

-

-

166

294

0

-

-

-

-

Warrant modification expense

-

-

-

54

333

156

0

-

-

-

-

Receivable collateral valuation reserve

-

-

-

-

-

123

502

-

0

-

-

Amortization of debt issue costs

54

-

-

-

75

131

266

-

0

-

-

Cash paid to settle convertible debt

-60

-

-

-

-

-

-

-

-

-

-

Amortization of prepaid shares for services

8

80

52

0

-

-

-

-

-

-

-

Warrant buyback expense

-

-

206

0

-

-

-

-

-

-

-

Warrant buyback expense

-

-

-

50

70

285

113

-

0

-

-

Accounts receivable

6,477

3,360

2,974

1,292

564

439

327

-

-468

-

-339

Accounts receivable, secured - related party

-

-

-

-

-101

0

-

-

-7

-

9

Prepaid expenses

219

13

10

1

75

-50

89

-

97

-

-

Accrued interest receivable

-

45

8

0

-

-

-

-

-

-

-

Other receivables

-182

103

64

0

-

-

-

-

-

-

-

Other current assets

-

-

-

-

-

-

68

-

-

-

-

Other current assets

-

-

-

-

-

-

-

-

0

-

-

Other assets

44

528

25

4

1

0

18

-

0

-

-

Prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-

-

0

Accounts payable

-527

1,319

747

-169

-275

141

-186

-

390

-

105

Accrued expenses

-7

280

85

5

29

15

252

-

-123

-

84

Deferred rent

663

22

14

23

-13

-10

-4

-

-2

-

-0

Refunds due students

358

505

199

-169

-7

34

0

-

-

-

-

Deferred revenue

642

-1

341

228

131

-251

200

-

-36

-

516

Other liabilities

112

221

0

-

-

-

-

-

-

-

-

Net cash (used in) provided by operating activities

-

-

-

-2,444

-2,741

-3,664

-

-

-

-

-

Other current liabilities

-

-

-

-

-

-

69

-

0

-

-

Settlement payable

-

-

-

-

-

-

-

-

-

-

-169

Accounts payable and accrued expenses

-

-

-

-

-

-

-

-3

-

0

-

Net cash used in operating activities

-10,216

-5,609

-1,488

-

-

-

-4,522

-31

-1,679

-9

105

Cash flows from investing activities:
Issuance of note receivable

-

-

-

0

-

-

-

-

-

-

-

Increase in restricted cash

-

-

0

-1,122

254

603

264

-

0

-

-

Purchases of courseware and accreditation

91

48

8

90

143

6

25

-

54

-

189

Cash acquired as part of merger

-

-

-

-

-

-

0

-

3

-

0

Purchases of property and equipment

2,531

1,836

804

466

379

386

479

-

1,060

-

0

Notes receivable

-

900

-900

-

-

-

-

-

-

-

-

Cash paid in acquisition

-

2,589

0

-

-

-

-

-

-

-

-

Proceeds from promissory note interest receivable

-

53

0

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-

-

-

564

-777

-

-

-

-

-

-

Proceeds received from officer loan repayments

-

-

-

-

-

-

150

-

-

-

-

Advances to officer for note receivable

-

-

-

-

-

-

-

-

388

-

-

Advances to officer in exchange for promissory note

-

-

-

-

-

-

-

-

-

-

0

Proceeds received from officer loan repayment

-

-

-

-

-

-

-

-

238

-

0

Net cash used in investing activities

-2,623

-3,521

-1,713

-

-

-995

-619

-

-1,261

-

-189

Cash flows from financing activities:
Repayment of loan payable - officer - related party

-

-

1,000

0

-

-

-

-

-

-

-

Proceeds of Equity offering

-

23,023

7,500

0

-

-

-

-

-

-

-

Proceeds from sale of common stock net of underwriter costs

-

-

-

-

5,547

750

3,025

0

-

12

250

Proceeds from senior secured term loan

-

7,500

0

-

-

-

-

-

-

-

-

Disbursements for equity offering costs

-

-

4

0

125

0

-

-

-

-

-

Repayment of convertible note payable

2,000

-

300

0

-

-

-

-

-

-

-

Proceeds from (repayments on) line of credit, net

-

-

-

-

-

-

-

-

10

-

-6

Proceeds from issuance of common shares and warrants, net

-

-

-

-

-

-

-

-

0

-

-

Principal payments on notes payable

-

-

-

-

25

25

0

-

30

-

25

Retirement of shares

-

-

-

-

0

-

-

-

-

-

-

Proceeds received from issuance of convertible notes and warrants

-

-

-

-

-

1,639

1,706

20

255

0

0

Repayment of note

-

-

-

-

2,240

0

-

-

-

-

-

Proceeds from related party for convertible notes

-

-

-

-

-

-

600

-

-

-

-

Proceeds from loan from related party

-

-

-

-

-

1,000

0

0

73

0

-

Offering costs paid on debt financing

29

2,215

560

-

-

48

266

-

-

-

-

Proceeds of warrant exercise

-

-

0

752

2,268

804

0

-

-

-

-

Payments for line of credit

-

-

-

-

-

-

0

-

-

-

-

Disbursemenents for debt issuance costs

-

-

-

-

-

-

-

-

0

-

-

Proceeds from issuance of series A, D and E preferred stock

-

-

-

-

-

-

-

-

3,469

-

-

Payments for stockholder rescissions

-

-

-

-

-

-

-

-

165

-

-

Proceeds from note payable

-

-

-

-

-

-

22

-

0

-

-

Purchase of treasury stock, net of broker fees

-

-

-

5

-

-

202

-

-

-

-

Repayment of senior secured loan

-

7,500

0

-

-

-

-

-

-

-

-

Proceeds of stock options and warrants exercised

228

722

-

-

-

-

-

-

-

-

-

Disbursements related to equity raise

-

-

-

0

-

-

-

-

-

-

-

Warrant Buyback

-

-

400

0

-

-

-

-

-

-

-

Borrowing of bank line of credit

-

-

247

0

-

-

-

-

-

-

-

Borrowing of bank line of credit

-

-

2,150

0

-

-

-

-

-

-

-

Payments for bank line of credit

-

-

2,150

0

-

-

-

-

-

-

-

Payments for line of credit

-

-

-248

-242

-0

-5

16

-

-

-

-

Third party line of credit financing costs

-

-

60

0

-

-

-

-

-

-

-

Purchase of treasury stock, net of broker fees

-7,370

-

-

-

-

-

-

-

-

-

-

Re-sale of treasury stock, net of broker fees

7,370

-

-

-

-

-

-

-

-

-

-

Offering costs paid on debt financing

100

351

0

-

-

-

-

-

-

-

-

Closing costs of senior secured loans

33

-

-

-

-

-

-

-

-

-

-

Cash paid to settle convertible debt

60

-

-

-

-

-

-

-

-

-

-

Proceeds of senior secured loan

10,000

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-

-

-

503

5,425

-

-

-

-

-

-

Cash flows from discontinued operations

-

-

-

-

5

68

51

-

582

-

-

Net cash provided by discontinued operations

-

-

-

-

5

68

51

-

582

-

-

Proceeds from issuance of Series A, D and E preferred stock

-

-

-

-

-

-

-

-

-

-

0

Disbursements for stockholder rescissions

-

-

-

-

-

-

-

-

-

-

0

Purchase of Treasury shares

-

-

-

-

-

-

-

-

-761

-

0

Net cash provided by (used in) financing activities

8,003

21,178

5,173

-

-

4,114

4,901

20

2,830

12

231

Supplemental disclosure cash flow information
Cash paid for interest

118

540

297

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

104

240

173

273

0

34

0

15

Cash paid for income taxes

-

-

0

0

0

0

0

0

0

0

0

Supplemental disclosure of non-cash investing and financing activities
Warrants issued as part of senior secured term loans

360

478

-

-

-

-

-

-

-

-

-

Warrants issued as part of senior secured loan

-

-

0

-

-

-

-

-

-

-

-

Common stock issued from conversion of notes

-

-

-

-

100

-

-

-

-

-

-

Conversion of convertible notes payable into common shares

-

-

-

-

-

-

-

-

0

-

-

Issuance of stock options to officers to settle accrued payroll

-

-

-

-

-

-

-

-

0

-

-

Conversion of loans payable to convertible notes payable

-

-

-

-

-

-

-

-

0

-

-

Issuance of common shares and warrants to settle accrued interest

-

-

-

-

-

-

-

-

0

-

-

Issuance of stock options to officers to settle note payable

-

-

-

-

-

-

-

-

0

-

-

Assets acquired net of liabilities assumed for non-cash consideration

-

12,215

0

-

-

-

-

-

0

-

-

Warrant value recorded as debt issue cost

-

-

-

-

-

94

0

-

-

-

-

Warrant value recorded as debt discount

-

-

-

-

-

389

0

-

-

-

-

Conversion of all preferred shares into common shares

-

-

-

-

-

-

3,469

-

0

-

0

Issuance of common stock from conversion of notes

-

-

-

-

-

0

1,775

-

-

-

-

Issuance of stock options to officers to settle accrued payroll

-

-

-

-

-

-

238

-

-

-

-

Conversion of loans payable to convertible notes payable

-

-

-

-

-

-

200

-

-

-

-

Issuance of common shares and warrants to settle accrued interest

-

-

-

-

-

-

70

-

-

-

-

Issuance of stock options to officers to settle note payable

-

-

-

-

-

-

22

-

-

-

-

Liabilities assumed in recapitalization

-

-

-

-

-

-

21

-

-

-

-

Settlement of notes payable by disposal of property and equipment

-

-

-

-

-

-

15

-

-

-

-

Issuance of convertible notes payable to pay accounts payable

-

-

-

-

-

-

11

-

-

-

-

Common stock issued for services

29

88

52

50

0

216

0

-

-

-

-

Warrants issued as part of revolving credit facility

255

-

-

-

-

-

-

-

-

-

-

Net (decrease) in cash and cash equivalents

-4,835

12,046

1,972

-1,375

1,912

-477

-189

-11

471

2

147

Warrant derivative liability

-

-

52

0

-

-

-

-

-

-

-

Settlement of notes payable by disposal of property and equipment

-

-

-

-

-

-

-

-

0

-

-

Issuance of convertible notes payable to pay for accounts payable

-

-

-

-

-

-

-

-

0

-

-

Conversion of convertible notes payable into Preferred Series B shares

-

-

-

-

-

-

-

-

350

-

-

Common stock issued from conversion of notes

-

-

-

302

-

-

-

-

-

-

-