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

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended 4 Months Ended 12 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Apr. 30, 2013
Apr. 30, 2012
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:            
Net loss $ (1,105,576) $ (1,752,227) $ (1,402,982) $ (2,213,119) $ (6,010,734) $ (2,135,573)
Income (loss) from discontinued operations, net of income taxes 22,263 90,043 (111,927) 148,513 136,310 457,566
Loss from continuing operations (1,127,839) (1,842,270) (1,291,055) (2,361,632) (6,147,044) (2,593,139)
Adjustments to reconcile net loss to net cash used in operating activities:            
Bad debt expense 13,837 51,521 37,000 32,955 133,907 21,200
Receivable collateral valuation service    309,117       502,315   
Amortization of debt issuance costs           266,473   
Gain on disposal of property and equipment        (5,879) (5,879)   
Depreciation and amortization 109,435 98,571 159,269 121,812 397,923 264,082
Loss on settlement of accrued interest        3,339 3,339   
Issuance of convertible notes in exchange for services rendered        38,175 38,175 22,000
Stock-based compensation 149,356 52,701 154,062 81,605 347,657   
Common shares and warrants issued for services rendered 25,060         113,000   
Changes in operating assets and libilities, net of effects of acquisition:            
Accounts receivable (142,635) (184,347) (288,117) (30,001) (327,524) 468,424
Accounts receivable, secured - related party              7,376
Prepaid expenses 6,345 31,187 27,107 (44,683) (89,265) (97,474)
Other current assets     69,000 210 (68,790) (210)
Other assets    (20,000)       (18,622)   
Accounts payable 118,450 48,867 97,609 727,214 (186,701) 390,628
Accrued expenses (2,107) (23,561) 52,658 191,532 252,771 (123,338)
Deferred rent (2,359) (1,430) 10,593 (1,073) (4,291) (2,324)
Deferred revenue (160,811) 16,862 121,933 114,162 200,846 (36,555)
Other current liabilities     (69,000)    69,000   
Net cash used in operating activities (1,013,268) (1,462,782) (918,941) (1,132,264) (4,522,710) (1,679,330)
Cash flow from investing activities:            
Cash acquired as part of merger        (378) 337 3,200
Purchases of property and equipment (104,385) (91,661) (166,214) (200,933) (479,846) (1,060,887)
Purchases of courseware (500) (13,200)    (8,200) (25,300) (54,090)
Increase in restricted cash (137)   (181)    (264,992)   
Advances to officer for note receivable              (388,210)
Proceeds received from officer loan repayment        150,000 150,000 238,210
Net cash used in investing activities (105,022) (104,861) (166,395) (59,511) (619,801) (1,261,777)
Cash flows from financing activities:            
Proceeds from (repayments on) line of credit, net (4,518) 25,000    (8,215) 16,785 (10,284)
Proceeds from issuance of common shares and warrants, net     1,041,540    3,025,236   
Principal payment on note payable              (30,871)
Proceeds received from issuance of convertible notes and warrants   947,000    1,059,000 1,706,000 255,000
Offering costs associated with private placement (48,240)          
Proceeds from related party for convertible notes 1,000,000 22,000       600,000 73,000
Proceeds from issuance of series A, D and E preferred stock              3,469,985
Payments for stockholder rescissions              (165,000)
Proceeds from note payable           22,000   
Disbursements to purchase treasury shares           (202,000) (761,200)
Disbursements for debt issuance costs   (68,888)   (112,020) (266,473)  
Net cash provided by financing activities 947,242 925,112 1,041,540 938,765 4,901,548 2,830,630
Cash flows from discontinued operations:            
Cash flows from operating activities 87,075 255,774 191,540 78,398 51,599 582,241
Net cash provided by discontinued operations 87,075 255,774 191,540 78,398 51,599 582,241
Net increase (decrease) in cash and cash equivalents (83,973) (386,757) 147,744 (174,612) (189,364) 471,764
Cash and cash equivalents at beginning of year 724,982 591,990 577,238 766,602 766,602 294,838
Cash and cash equivalents at end of year 641,009 205,233 724,982 591,990 577,238 766,602
Supplemental disclosure of cash flow information:            
Cash paid for interest 11,158 2,196 1,494 2,681 273,718 34,804
Cash paid for income taxes                  
Supplemental disclosure of non-cash investing and financing activities:            
Conversion of all preferred shares into common shares        3,469,985 3,469,985   
Conversion of convertible notes payable into common shares        20,000 1,775,825   
Issuance of stock options to officers to settle accrued payroll           238,562   
Conversion of loans payable to convertible notes payable        200,000 200,000   
Issuance of common shares and warrants to settle accrued interest           70,654   
Issuance of stock options to officers to settle note payable        22,000 22,000   
Liabilities assumed in recapitalization        21,206 21,206   
Settlement of notes payable by disposal of property and equipment        15,151 15,151   
Issuance of convertible notes payable to pay for accounts payable        11,650 11,650   
Conversion of convertible notes payable into Preferred Series B shares              350,000
Stock Issued $ 216,000