ÌÒÖ­Ó°Ôº

Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Jul. 31, 2016
Jul. 31, 2015
Cash flows from operating activities:    
Net loss $ (505,447) $ (718,706)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Bad debt expense 31,889
Depreciation and amortization 151,049 143,459
Stock-based compensation 95,607 72,941
Warrant modification expense 6,000
Amortization of prepaid shares for services 7,015
Warrant buyback expense 206,000
Changes in operating assets and liabilities:    
Accounts receivable (580,913) (259,509)
Prepaid expenses (23,188) 18,221
Other assets (23,001) 2
Accounts payable 409,498 275,321
Accrued expenses 73,293 44,581
Deferred rent 23,708 (4,000)
Refunds due students 11,055 69,418
Deferred revenue 189,800 (25,537)
Net cash provided by (used in) operating activities 34,476 (345,920)
Cash flows from investing activities:    
Purchases of property and equipment (179,117) (105,503)
Purchases of courseware (4,450) (41,104)
Net cash used in investing activities (183,567) (146,607)
Cash flows from financing activities:    
Warrant buyback (400,000)
Payments for line of credit 247,000 5,794
Disbursements for equity offering costs (1,388)
Net cash (used in) provided by financing activities (154,388) 5,794
Net decrease in cash and cash equivalents (303,479) (486,733)
Cash and cash equivalents at beginning of period 783,796 2,159,463
Cash and cash equivalents at end of period 480,317 1,672,730
Supplemental disclosure of cash flow information:    
Cash paid for interest 28,327 28,876
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities    
Common stock issued for services 75,002
Common stock issued from conversion of notes