If there is anything left....https://www.otcmarkets.com/stock/NAUH/disclosure
Still hobbling along.
$70,000 in cash. Still underwater. "Company management has also continued its efforts to reduce expenses, as possible, and to negotiate other obligations with the intention of reducing the working capital deficit and improving cash flows from... — read more
$16K in cash, $7.5M in assets, $9.2M in liabilities
Is NAUH paying its bills? $124K operating loss. How long can this go on? "Company management has also continued its efforts to reduce expenses, as possible, and to negotiate other obligations with the intention of reducing the working capital... — read more
NAUH has no cash
Please ignore the sensitive content warning. https://www.highereducationinquirer.org/2023/10/national-american-university-has-no-cash.html
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
Still underwater...and with a skeleton crew
"There were 209 total employees and 54 full-time employees on May 31, 2023." https://www.otcmarkets.com/otcapi/company/financial-report/381006/content
What happened to NAUH's Annual Report?
https://www.otcmarkets.com/stock/NAUH/disclosure
Cash down to $120K
https://www.otcmarkets.com/otcapi/company/financial-report/365465/content
Zombie College Crash
What is keeping this zombie from falling?
Teach out plan?
NAU is on its last legs. So is there a teach out plan?
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
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
Annual Report should be out at the end of August
Will NAUH be alive in August '22? https://www.otcmarkets.com/stock/NAUH/disclosure
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
NAUH Quarterly Report should be coming out soon...
Over the last three years the Q3 report came out between April 14-16. https://www.otcmarkets.com/stock/NAUH/disclosure
National American University is a Zombie College
Assets: $8.2 million Liabilities: $15.9 million Operating Loss: $2.8 million Cash: $393 thousand https://www.otcmarkets.com/otcapi/company/financial-report/317599/content
What's left?
Doesn't look like much. https://sec.report/otc/company/NAUH
Quarterly Report?
The Quarterly Report for the period ending November 30, 2021 should be coming out soon. https://sec.report/Ticker/NAUH
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
"Lawsuit alleges National American University schemed to hide assets from creditors"
"A commercial real estate company in Minnesota is accusing Rapid City-based National American University and its leaders of committing fraud by trying to hide assets in a separate company... — read more
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
How does NAUH stay in business?
Total assets: $26.7 million Total liabilities: $37.5 million https://backend.otcmarkets.com/otcapi/company/financial-report/278528/content
"National American University Teams Up with Interactive College of Technology"
https://www.careereducationreview.net/2021/01/national-american-university-teams-up-with-interactive-college-of-technology-2/
Student X
Tell me how you feel about this. http://collegemeltdown.blogspot.com/2020/11/a-letter-to-us-department-of-education.html
NAUH bailed out by the FEDS, but is it enough?
$3 million PPP/SBA/CARES Act loan under, $2.5 million that they don't expect to repay (p.45) $4.4 million tax break from the CARES Act (p. 41) Reduction in the Letter of Credit (LOC) that they had to hold in reserve for the Department of... — read more
Student loan volumes down 68 percent at NAUH
https://drive.google.com/file/d/1PZk3YJfiOdRD2c_lQCrBmD_nAIMyfjWZ/view
CEHE
The organization that holds $8.5 million in NAUH debt. https://en.wikipedia.org/wiki/Center_for_Excellence_in_Higher_Education
Did National American University get a government bailout?
"The CARES Act includes provisions for Emergency Financial Aid Grants to Students who are enrolled in participating Title IV institutions. On April 10, 2020, the company received notification from the USDOE that NAU may receive $1,453,446 in... — read more
(MPR News) NAU graduate struggles with making ends meet
thought she was making the correct, practical decision by going to National American University to study medical... — read more
National American's financial woes raise questions for its future
https://www.educationdive.com/news/national-americans-financial-woes-raise-questions-for-its-future/569559/
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
NAU board cut down to 3 members
Survivors... https://seekingalpha.com/pr/17650946-national-american-university-holdings-inc-announces-changes-board-directors
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
National American University Holdings, Inc. Announces Board Member Resignation, James A. Rowan to Remain a Financial Advisor to the Company
"With Mr. Rowan’s departure, the Company’s Board of Directors is now at eight... — read more
Explain to me again...
How is National American University still operating? Does anyone actually work there, wherever there is?
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
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
Now completely under the radar...
TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT https://www.sec.gov/Archives/edgar/data/1399855/000165495419006997/nauh_15.htm
Portion of Rapid City campus sold for homeless resource center
On May 29, 2019, Rapid City reported that the city would purchase a portion of the Rapid City campus for a homeless resource center... — read more
"National American Students Surprised by Closures"
"National American University, a for-profit college chain based in South Dakota, last year began shifting its focus to online education after several years of declining enrollment. But the company's winding down of its physical locations has taken... — read more