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General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Operations (Unaudited)

v2.4.0.6
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Dec. 31, 2011
Dec. 31, 2010
Income Statement [Abstract]            
Revenues $ 1,253,190 $ 1,134,315 $ 4,018,291 $ 3,092,779 $ 4,477,931 $ 3,028,699
Revenues - related party 0 0 0 0 0 125,000
Total Revenues 1,253,190 1,134,315 4,018,291 3,092,779 4,477,931 3,153,699
Costs and expenses:            
Instructional costs and services 759,805 512,053 2,504,215 1,498,667 2,493,341 1,759,140
Marketing and promotional 299,401 132,569 1,176,814 272,959 1,181,558 242,134
General and administrative 1,389,940 1,274,238 4,368,454 2,328,421 2,634,453 998,777
Receivable collateral valuation service 193,198 0 502,315 0 0 0
Depreciation and amortization 103,738 71,442 289,675 177,846 264,082 338,803
Total costs and expenses 2,746,082 1,990,302 8,841,473 4,277,893 6,573,434 3,338,854
Operating loss (1,492,892) (855,987) (4,823,182) (1,185,114) (2,095,503) (185,155)
Other income (expense):            
Interest income 153 347 882 355 2,656 8
Interest expense (229,237) (4,550) (359,955) (11,376) (27,850) (18,399)
Gain on disposal of property and equipment 0 0 5,879 0 0 0
Loss due to unauthorized borrowing 0 0 0 (14,876) (14,876) (261,468)
Total other income (expense) (229,084) (4,203) (353,194) (25,897) (40,070) (279,859)
Loss before income taxes (1,721,976) (860,190) (5,176,376) (1,211,011) (2,135,573) (465,014)
Income tax expense (benefit) 0 0 0 0 0 0
Net loss (1,721,976) (860,190) (5,176,376) (1,211,011) (2,135,573) (465,014)
Cumulative preferred stock dividends 0 (24,685) (37,379) (40,219) (87,326) 0
Net loss allocable to common stockholders $ (1,721,976) $ (884,875) $ (5,213,755) $ (1,251,230) $ (2,222,899) $ (465,014)
Loss per share:            
Basic and diluted $ (0.05) $ (0.07) $ (0.18) $ (0.08) $ (0.14) $ (0.02)
Weighted average number of common shares outstanding:            
Basic and diluted 35,687,944 11,871,950 29,172,716 16,559,115 15,377,413 21,000,000