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

CONSOLIDATED BALANCE SHEETS

v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Current assets:      
Cash and cash equivalents $ 479,344 $ 577,238 $ 766,602
Restricted cash 265,131 264,992   
Accounts receivable, net of allowance of $57,535, $35,535 and $47,595, respectively 327,015 239,671 215,099
Accounts receivable, secured - related party       772,793
Note receivable from officer, secured - related party       150,000
Prepaid expenses 157,583 192,533 103,268
Net assets from discontinued operations (Note 1) 183,747 393,214 632,135
Other current assets    69,000 210
Total current assets 1,412,820 1,736,648 2,640,107
Property and equipment:      
Call center equipment 121,313 121,313 121,313
Computer and office equipment 61,037 45,718 38,577
Furniture and fixtures 32,914 11,336   
Library (online) 100,000 100,000 100,000
Software 1,491,035 1,388,824 927,455
Vehicle       39,736
Total property and equipment, gross 1,806,299 1,667,191 1,227,081
Less accumulated depreciation and amortization 541,216 455,871 229,972
Total property and equipment, net 1,265,083 1,211,320 997,109
Courseware, net 218,559 253,571 369,831
Accounts receivable, secured - related party, net of allowance of $502,315 and $0, respectively 270,478 270,478   
Other assets 25,181 25,181 6,559
Total assets 3,192,121 3,497,198 4,013,606
Current liabilities:      
Accounts payable 258,409 215,796 414,147
Accrued expenses 97,380 75,912 128,303
Deferred revenue 1,142,195 1,036,540 835,694
Convertible notes payable, current portion (includes $50,000 to related parties) 200,000      
Notes payable, current portion       6,383
Loan payable to stockholder 491 491   
Deferred rent, current portion 7,844 6,257 4,291
Net liabilities from discontinued operations (Note 1) 125,132 226,430 719,107
Other current liabilities    69,000   
Total current liabilities 1,831,451 1,630,426 2,107,925
Line of credit 250,250 250,000 233,215
Loans payable (includes $50,000 to related parties)       200,000
Convertible notes payable (includes $650,000 to related parties) 600,000 800,000   
Notes payable       8,768
Deferred rent 20,319 15,017 21,274
Total liabilities 2,702,020 2,695,443 2,571,182
Commitments and contingencies - See Note 10         
Temporary equity:      
Series A preferred stock, $0.001 par value; 850,500 shares designated, none and 850,395 shares issued and outstanding, respectively       809,900
Series D preferred stock, $0.001 par value; 3,700,000 shares designated, none and 1,176,750 shares issued and outstanding, respectively (liquidation value of $1,176,750)       1,109,268
Series E preferred stock, $0.001 par value; 2,000,000 shares designated, none and 1,700,000 shares issued and outstanding, respectively (liquidation value of $1,700,000)       1,550,817
Total temporary equity       3,469,985
Stockholders? equity (deficiency):      
Preferred stock, $0.001 par value; 10,000,000 shares authorized         
Series C preferred stock, $0.001 par value; 11,411,400 shares designated, none and 11,307,450 shares issued and outstanding, respectively (liquidation value of $11,307)       11,307
Series B preferred stock, $0.001 par value; 368,421 shares designated, none and 368,411 shares issued and outstanding, respectively       368
Common stock, $0.001 par value; 120,000,000 shares authorized, 55,243,719 issued and 55,043,719 outstanding at December 31, 2012 and 11,837,930 issued and outstanding at December 31, 2011 56,858 55,244 11,838
Additional paid-in capital 12,789,218 12,153,615 3,275,296
Treasury stock (200,000 shares) (70,000) (70,000)   
Accumulated deficit (12,285,975) (11,337,104) (5,326,370)
Total stockholders' equity (deficiency) 490,101 801,755 (2,027,561)
Total liabilities and stockholders' equity (deficiency) $ 3,192,121 $ 3,497,198 $ 4,013,606