ASPEN GROUP, INC. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2022 12 months to Apr 30, 2022	FY2021 12 months to Apr 30, 2021	FY2020 12 months to Apr 30, 2020	FY2019 12 months to Apr 30, 2019	FY2018 12 months to Apr 30, 2018
Cash flows from operating activities:
Net loss
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Bad debt expense
Gain on extinguishment of warrant liability
Depreciation and amortization
Stock-based compensation
Amortization of warrant-based cost
Amortization of deferred financing costs
Amortization of debt discounts
Amortization of debt issue costs
Loss on asset disposition
Amortization and write-off origination fees
Lease expense
Gain on extinguishment of debt
Right-of-use lease asset offset against operating lease obligations
Warrants issued as part of revolving credit facility
Warrants issued as part of senior secured term loans
Assets acquired net of liabilities assumed for non-cash consideration

Cash and cash equivalents
Restricted cash
Non-cash lease benefit
Tenant improvement allowances received from landlords
Modification charge for warrants exercised
Cash paid to settle convertible debt
Amortization of prepaid shares for services
Common stock issued for services
Changes in operating assets and liabilities:
Accounts receivable
Prepaid expenses
Accrued interest receivable
Other receivables
Other current assets
Accounts receivable, secured
Deposits and other assets
Accounts payable
Accrued expenses
Deferred rent
Refunds due students
Due to students
Deferred revenue
Other current liabilities

Net cash (used in) provided by operating activities
Cash flows from investing activities:
Increase in restricted cash
Purchase of finite life intangible assets
Purchases of courseware and accreditation
Purchases of property and equipment
Notes receivable
Cash paid in acquisition
Proceeds from promissory note interest receivable
Net cash used in investing activities

Cash flows from financing activities:
Proceeds from drawdown on Credit Facility
Payments of deferred financing costs
Closing costs of senior secured loans
Cash paid to settle convertible debt
Purchase of treasury stock
Re-sale of treasury stock
Offering costs paid on debt financing
Proceeds from warrants exercised
Proceeds from stock options exercised
Proceeds of senior secured loan
Repayment of convertible note payable
Proceeds from term loan
Repayment of senior secured loan
Proceeds of stock options and warrants exercised
Disbursements for equity offering costs
Common stock short swing reclamation

Net cash provided by financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents
Net decrease in cash and cash equivalents
Cash, cash equivalents and restricted cash at beginning of year
Cash, cash equivalents and restricted cash at end of year
Supplemental disclosure cash flow information:
Cash paid for interest
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities:
Warrants issued as part of senior secured loan
Warrants issued as part of the 2018 Credit facility amendment
Warrants issued for Intercreditor Agreement Amendment
Common stock issued for conversion of Convertible Notes
Common stock issued for services
Beneficial conversion feature on Convertible Debt

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