Topics regarding layoffs at National American University

Topics regarding layoffs at National American University

NAUH has no cash

Please ignore the sensitive content warning. https://www.highereducationinquirer.org/2023/10/national-american-university-has-no-cash.html

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Post ID: @OP+1pcjBtHC

More losses

Still underwater and with more losses--and no cash. At what point do the doors close? "As of August 31, 2023, the Company had approximately $0.0 million of unrestricted cash and cash equivalents, a working capital deficit of approximately $4.8... — read more 

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| 340 views | | 1 reply (October 20)
Post ID: @OP+1pbxaHu2

Q1 Report

Assets-$5,867,000 Liabilities-$13,793,000 Cash-$643,000 Q3 Operating Loss-$690,000 Net Loss-$685,000 "Company management has also continued its efforts to reduce expenses, as possible, and to sell certain assets, and to negotiate settlements on... — read more 

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| 479 views | | no replies yet
Post ID: @OP+1jLTGM6P

Annual Report

It was a good thing that NAUH got a $3 million PPP "loan." And that ED reduced the Letter of Credit to $2 million. Assets $6.1 million (p. 25) Liabilities $13.3 million Cash $1 million Not paying all the bills (p. 44)... — read more 

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| 474 views | | 2 replies (last October 11, 2022)
Post ID: @OP+1ivXHrxm

NAUH Quarterly Report

Big-time underwater with little cash left. Q Operating Loss: $2,992,000 Cash left: $48,000 Assets: $8,169,000 Liabilities: $15,026,000 Stock Holders Deficit: $6,857,000 https://www.otcmarkets.com/otcapi/company/financial-report/327316/content — read more 

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| 678 views | | 1 reply (April 23, 2022)
Post ID: @OP+1gnRBGdz

Illegal Bait-and-Switch?

"Poor leads, they generally come from indeed ads and the leads aren't interested...." https://www.glassdoor.com/Reviews/National-American-University-Reviews-E102235.htm

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| 611 views | | no replies yet
Post ID: @OP+1ebgtiwK

More losses

Revenues drop from $24.4 million in 2020 to $15.5 million in 2021. Operating loss of $5.4 million. Total assets $23.9 million. Total liabilities $37.1 million. https://sec.report/otc/financial-report/299227

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| 635 views | | no replies yet
Post ID: @OP+1d3cz41D

Student X

Tell me how you feel about this. http://collegemeltdown.blogspot.com/2020/11/a-letter-to-us-department-of-education.html

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| 546 views | | no replies yet
Post ID: @OP+17Tp4mMT

CEHE

The organization that holds $8.5 million in NAUH debt. https://en.wikipedia.org/wiki/Center_for_Excellence_in_Higher_Education

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| 682 views | | 2 replies (last September 10, 2020)
Post ID: @OP+16J8WzDC

How does NAUH stay in business?

Revenues down 31 percent from 2018 to 2019. Cash down to $1.3M. Financial composite score is 1.1. If it dips below 1.0, the Department of Education creates more requirements. Full-time faculty down to 19. Gravely lawsuit (USA v. NAUH) still in... — read more 

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| 942 views | | 2 replies (last November 27, 2019)
Post ID: @OP+12c6HETg

NAU lender downsizing

"The Center for Excellence in Higher Education, a for-profit college chain based in Salt Lake City, is halting enrollment of new students at physical locations as it looks to shift to mostly online... — read more 

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| 657 views | | no replies yet
Post ID: @OP+110d8Gp8

Slipping under the radar...

No shareholders. No campuses to speak of. A former campus on Rapid City renovated as a place for homeless outreach. Two major lawsuits. Heightened Cash Monitoring. A bailout from another questionable organization. A CFO who has been on other... — read more 

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| 948 views | | 2 replies (last July 2, 2019)
Post ID: @OP+ZQqwYYA

Student lawsuit

College gave KC-area students ‘worthless’ course credits, ‘crippling debt,’ suit says https://www.kansascity.com/news/local/article231227038.html#storylink=cpy Missouri students suing Rapid City-based National American University for false claims... — read more 

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| 756 views | | 1 reply (June 8, 2019)
Post ID: @OP+Zs4FM6R

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