|
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
|
3 Months Ended |
12 Months Ended |
|
Mar. 31, 2013
|
Mar. 31, 2012
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Consolidated Statements Of Operations [Abstract] |
|
|
|
|
| Revenues |
$ 892,334 |
$ 546,778 |
$ 2,684,931 |
$ 2,346,238 |
| Costs and expenses: |
|
|
|
|
| Instructional costs and services |
235,713 |
187,847 |
899,909 |
525,907 |
| Marketing and promotional |
310,491 |
437,305 |
1,442,128 |
515,362 |
| General and administrative |
1,217,273 |
1,752,281 |
5,235,282 |
3,593,956 |
| Receivable collateral valuation service |
|
|
502,315 |
|
| Depreciation and amortization |
120,357 |
89,749 |
397,923 |
264,082 |
| Total costs and expenses |
1,883,834 |
2,467,182 |
8,477,557 |
4,899,307 |
| Operating loss from continuing operations |
(991,500) |
(1,920,404) |
(5,792,626) |
(2,553,069) |
| Other income (expense): |
|
|
|
|
| Interest income |
243 |
644 |
4,592 |
2,656 |
| Interest expense |
(5,217) |
(3,031) |
(364,889) |
(27,850) |
| Gain on disposal of property and equipment |
|
5,879 |
5,879 |
|
| Other income |
66,267 |
|
|
|
| Loss due to unauthorized borrowing |
|
|
|
(14,876) |
| Total other expense |
61,293 |
3,492 |
(354,418) |
(40,070) |
| Loss from continuing operations before income taxes |
(930,207) |
(1,916,912) |
(6,147,044) |
(2,593,139) |
| Income tax expense (benefit) |
|
|
|
|
| Loss from continuing operations |
(930,207) |
(1,916,912) |
(6,147,044) |
(2,593,139) |
| Discontinued operations (Note 1) |
|
|
|
|
| Income from discontinued operations, net of income taxes |
(18,664) |
127,146 |
136,310 |
457,566 |
| Net loss |
(948,871) |
(1,789,766) |
(6,010,734) |
(2,135,573) |
| Cumulative preferred stock dividends |
|
(37,379) |
(37,379) |
(87,326) |
| Net loss allocable to common stockholders |
$ (948,871) |
$ (1,827,145) |
$ (6,048,113) |
$ (2,222,899) |
| Loss per share from continuing operations - basic and diluted |
$ (0.02) |
$ (0.12) |
$ (0.17) |
$ (0.17) |
| Income (loss) per share from discontinued operations - basic and diluted |
|
0.01 |
|
0.03 |
| Net loss per share allocable to common stockholders - basic and diluted |
(0.02) |
(0.11) |
(0.17) |
(0.14) |
| Weighted average number of common shares outstanding: |
|
|
|
|
| Basic and diluted |
55,671,814 |
16,473,874 |
35,316,681 |
15,377,413 |