Thread regarding Zovio (formerly Bridgepoint Education Inc.) layoffs

10Q and earnings call today

Yet another bloodbath...

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Post ID: @OP+1gEemoBn

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Zovio continues to lose millions.
Shareholders lost more than $8 million in equity this quarter--now down to $11.3 million (for about 33.5 million shares).
If you do the math, that's less than half of its current price.
Losses continue despite significant budget cuts, including cuts in technology, academic services, counseling, and marketing
Bills are mounting. Current liabilities are more than $100 million.
Besides the California AG lawsuit, Zovio also faces losses due to Defense to Repayment.

Enough cash to go for awhile--after taking out a $31.5 million term loan through a 3rd party (Blue Torch Capital is the intermediary).
9% +LIBOR+fees.

Not mentioned in the 10Q: Shares must be above $1 per share for 10 consecutive days to avoid delisting.
This makes it even more difficult to raise capital.
At its current condition, it's difficult to imagine ZVO getting to $1 again.
Deadline is October 31, 2022.

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