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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
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3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2012
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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| Income Statement [Abstract] | ||||
| Revenues | $ 1,253,190 | $ 1,134,315 | $ 4,018,291 | $ 3,092,779 |
| Costs and expenses: | ||||
| Instructional costs and services | 759,805 | 512,053 | 2,504,215 | 1,498,667 |
| Marketing and promotional | 299,401 | 132,569 | 1,176,814 | 272,959 |
| General and administrative | 1,389,940 | 1,274,238 | 4,368,454 | 2,328,421 |
| Receivable collateral valuation service | 193,198 | 0 | 502,315 | 0 |
| Depreciation and amortization | 103,738 | 71,442 | 289,675 | 177,846 |
| Total costs and expenses | 2,746,082 | 1,990,302 | 8,841,473 | 4,277,893 |
| Operating loss | (1,492,892) | (855,987) | (4,823,182) | (1,185,114) |
| Other income (expense): | ||||
| Interest income | 153 | 347 | 882 | 355 |
| Interest expense | (229,237) | (4,550) | (359,955) | (11,376) |
| Gain on disposal of property and equipment | 0 | 0 | 5,879 | 0 |
| Loss due to unauthorized borrowing | 0 | 0 | 0 | (14,876) |
| Total other income (expense) | (229,084) | (4,203) | (353,194) | (25,897) |
| Loss before income taxes | (1,721,976) | (860,190) | (5,176,376) | (1,211,011) |
| Income tax expense (benefit) | 0 | 0 | 0 | 0 |
| Net loss | (1,721,976) | (860,190) | (5,176,376) | (1,211,011) |
| Cumulative preferred stock dividends | 0 | (24,685) | (37,379) | (40,219) |
| Net loss allocable to common stockholders | $ (1,721,976) | $ (884,875) | $ (5,213,755) | $ (1,251,230) |
| Loss per share: | ||||
| Basic and diluted | $ (0.05) | $ (0.07) | $ (0.18) | $ (0.08) |
| Weighted average number of common shares outstanding: | ||||
| Basic and diluted | 35,687,944 | 11,871,950 | 29,172,716 | 16,559,115 |
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No authoritative reference available. No definition available.
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Total costs related to services rendered by an entity during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Equity impact of preferred stock cash dividends declared by an entity during the period. This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The net result for the period of deducting operating expenses from operating revenues. No definition available.
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Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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