| May'19 | May'18 | May'17 | May'16 | May'15 | May'14 | May'13 | May'12 | May'11 | May'10 |
|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||
NET LOSS | |||||||||
-8,094 | -11,853 | - | - | - | - | - | - | - | - |
NET LOSS FROM DISCONTINUED OPERATIONS | |||||||||
-16,951 | -258 | - | - | - | - | - | - | - | - |
NET LOSS | |||||||||
- | - | -6,227 | -5,304 | 6,754 | 3,468 | 5,486 | 5,137 | 10,304 | 10,039 |
Adjustments to reconcile net (loss) income to net cash flows provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
2,580 | 2,671 | 5,086 | 5,596 | 6,127 | 6,356 | 5,650 | - | 2,861 | 2,320 |
Loss on course development impairment | |||||||||
0 | 286 | - | - | - | - | - | - | - | - |
Loss on course development impairment | |||||||||
- | - | 0 | 0 | - | - | - | - | - | - |
Loss on lease termination | |||||||||
- | - | -285 | 0 | - | - | - | - | - | - |
Payments for lease terminations | |||||||||
- | - | 0 | 0 | - | - | - | - | - | - |
Loss on impairment and disposition of property | |||||||||
1,014 | 378 | - | - | - | - | - | - | - | - |
Depreciation and amortization | |||||||||
- | - | - | - | - | - | - | 4,239 | - | - |
Loss (gain) on impairment and disposition of property and equipment | |||||||||
- | - | -767 | -735 | 1,710 | -114 | -100 | 320 | - | - |
Realized loss on sale of available-for-sale investments | |||||||||
0 | 16 | 0 | 0 | - | - | - | - | - | - |
(Gain) loss on disposition of property and equipment | |||||||||
- | - | - | - | - | - | - | - | -81 | - |
Loss (gain) on disposition of property and equipment | |||||||||
- | - | - | - | - | - | - | - | - | -29 |
Realized loss on available for sale investments | |||||||||
- | - | - | - | - | - | -21 | 0 | 0 | - |
Provision for uncollectable tuition | |||||||||
494 | 592 | 3,740 | 5,403 | 5,602 | 3,879 | 4,479 | 4,204 | 3,350 | 2,355 |
Noncash compensation expense | |||||||||
171 | 245 | 167 | 557 | -855 | 1,535 | 453 | 560 | 1,104 | 1,507 |
Deferred income taxes | |||||||||
0 | -194 | 625 | -1,379 | -1,534 | -1,881 | 1,194 | 2,107 | 1,540 | -453 |
Changes in assets and liabilities: | |||||||||
Student and other receivables | |||||||||
-438 | 1,716 | 3,707 | -6,764 | 4,332 | 16,383 | 5,659 | 4,483 | 3,010 | 3,750 |
Prepaid and other current assets | |||||||||
-484 | 490 | -429 | -73 | 53 | 1,257 | 228 | 54 | -262 | 1,179 |
Student notes | |||||||||
- | - | - | - | - | - | 87 | 109 | 411 | 17 |
Bookstore inventory | |||||||||
- | - | - | - | - | - | -6 | -1,051 | 137 | 316 |
Condominium inventory | |||||||||
-512 | -713 | 0 | 236 | -367 | -382 | -30 | 3 | -382 | -756 |
Other assets | |||||||||
-554 | 451 | 235 | 202 | -19 | 66 | - | - | - | - |
Income tax receivable/payable | |||||||||
60 | 2,153 | 482 | -2,671 | -1,157 | 1,280 | 852 | 286 | -1,491 | -320 |
Accounts payable | |||||||||
1,267 | 502 | -224 | -372 | 230 | -1,839 | 1,112 | -142 | -665 | 324 |
Deferred income | |||||||||
529 | 783 | 42 | 190 | 149 | 146 | -41 | -58 | -11 | -62 |
Accrued and other liabilities | |||||||||
-876 | 518 | 6 | -891 | -337 | 92 | 249 | 314 | 294 | 1,209 |
Other long-term liabilities | |||||||||
-374 | -190 | -890 | -1,361 | -384 | -48 | 2,318 | 128 | 1,324 | 758 |
Discontinued Adjustments used in operating activities | |||||||||
13,849 | 1,597 | - | - | - | - | - | - | - | - |
Net cash flows used in operating activities | |||||||||
-5,451 | -3,796 | 816 | 7,306 | 8,848 | -4,090 | 15,935 | 12,857 | 15,777 | 13,082 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||
Purchases of available for sale investments | |||||||||
0 | 1,747 | 7,721 | 3,897 | 50,141 | 36,980 | 39,927 | 67,993 | 35,995 | 16,397 |
Proceeds from sale of available for sale investments | |||||||||
0 | 4,668 | 7,652 | 3,881 | 61,478 | 42,277 | 34,046 | 72,087 | 27,982 | 9,687 |
Net cash paid for acquisition | |||||||||
0 | 1,269 | 0 | 0 | - | - | - | - | - | - |
Purchases of restricted certificates of deposit | |||||||||
7,475 | 8,000 | - | - | - | - | - | - | - | - |
Proceeds from the release of restricted certificates of deposit | |||||||||
1,100 | 0 | - | - | - | - | - | - | - | - |
Purchases of property and equipment | |||||||||
795 | 0 | 5,547 | 959 | 1,311 | 4,532 | 8,647 | 13,205 | 6,659 | 4,671 |
Proceeds from sale of property and equipment | |||||||||
524 | 570 | 215 | 75 | 3,628 | 503 | 21 | 430 | 1 | 167 |
Payments received on contract for deed | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Course development | |||||||||
- | - | 565 | 304 | 143 | 247 | 217 | 585 | 454 | 346 |
Payment of deposit on property and equipment | |||||||||
- | - | - | - | - | 200 | 0 | 0 | - | - |
Payments received on contract for deed | |||||||||
- | - | - | - | 160 | 296 | 1 | 0 | - | - |
Payments received on note receivable | |||||||||
- | - | - | - | 1,390 | 641 | 0 | 0 | - | - |
Other | |||||||||
40 | 237 | -54 | -17 | -8 | 31 | 19 | 115 | 48 | 7 |
Discontinued Adjustments used in investing activities | |||||||||
42 | -2,309 | - | - | - | - | - | - | - | - |
Net cash flows used in investing activities | |||||||||
-6,644 | -8,324 | -5,912 | -1,187 | 15,069 | 1,727 | -14,742 | -9,381 | -15,173 | -11,567 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
Repayments of lines of credit | |||||||||
- | - | - | - | - | - | - | - | - | 3,305 |
Repayments of long-term debt | |||||||||
- | - | - | - | - | - | - | - | - | 8,654 |
Repayments of capital lease payable | |||||||||
380 | 331 | 284 | 244 | 206 | 157 | 40 | 100 | 0 | 0 |
Borrowings of long-term debt | |||||||||
8,500 | 8,000 | 0 | 0 | - | - | - | - | - | - |
Contributed capital by non-controlling interest members | |||||||||
- | - | - | - | - | - | - | - | - | 685 |
Purchase of treasury stock | |||||||||
14 | 15 | 4 | 3,022 | 32 | 64 | 1,770 | 10,084 | 7,505 | 0 |
Cash received for warrants | |||||||||
- | - | - | - | - | - | - | - | 5,876 | 0 |
Issuance of common stock | |||||||||
- | - | - | - | - | - | - | - | 32,077 | 0 |
Cash paid for stock issuance | |||||||||
- | - | - | - | - | - | - | - | 640 | 0 |
Cash received in reverse merger | |||||||||
- | - | - | - | - | - | - | - | - | 22,092 |
Cash paid for merger costs | |||||||||
- | - | - | - | - | - | - | - | - | 3,365 |
Dividends paid | |||||||||
0 | 2,184 | 4,355 | 4,440 | 4,533 | 4,392 | 3,911 | 3,350 | 13,391 | 3,781 |
Net cash flows provided by financing activities | |||||||||
8,106 | 5,470 | -4,643 | -7,706 | -4,771 | -4,613 | -5,721 | -13,534 | 16,417 | 3,672 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | |||||||||
-3,989 | -6,650 | -9,739 | -1,587 | 19,146 | -6,976 | -4,528 | -10,058 | 17,021 | 5,187 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION: | |||||||||
Cash paid for income taxes | |||||||||
29 | 2,192 | -2,658 | 1,156 | 7,124 | 2,907 | 1,653 | 1,289 | 6,308 | 7,884 |
Cash paid for interest | |||||||||
1,293 | 835 | 851 | 871 | - | - | - | - | - | - |
Cash paid for interest | |||||||||
- | - | - | - | 885 | 787 | 1,045 | 510 | - | 554 |
Capital lease additions | |||||||||
- | - | - | - | - | - | - | 10,600 | - | - |
Tenant improvements on capital lease financed through note receivable | |||||||||
- | - | - | - | - | 2,000 | 0 | - | 1,271 | 0 |
Property and equipment sold under contract for deed | |||||||||
- | - | 171 | 0 | 0 | - | 162 | - | - | - |
Property and equipment purchases included in accounts payable | |||||||||
- | - | 450 | 63 | 24 | 419 | 670 | - | - | - |
Capital lease additions | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Dividends declared and unpaid at May 31, 2018, 2017, and 2016 | |||||||||
- | - | 1,094 | 1,090 | 1,139 | 1,134 | 1,004 | 840 | 831 | 11,116 |