GREY:LGLTF - Post by User
Comment by
kim2015on Jun 14, 2015 1:10am
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Post# 23828255
RE:From June 10 PR...this is going up!
RE:From June 10 PR...this is going up!Wow, they have $12.5 million worth of liabilities (Deferred Revenue) to teach out all those students???? This means if another school comes in for a rescue, just teaching out the existing group will cost any white knight $12.5M.... Obviously, this is teach out cost. What about Admin and Rent, and Exec pay plus lawsuit costs. With $1M in cash burning $2M per month according to Q1 report. how are they going to fund is $12.1 million worth of Deferred Revenue that needs to be earned over time? They collected $12.1m of tuition revenue, pre-spent it, now outstanding with this huge teach out debt, while $1M in bank. They should not even remind the public this huge debt!!!!!