Thread regarding National American University layoffs

CFO out? Cash Crunch.

For the six months ended November 30, 2018, cash used in operating activities was $3.9 million and unrestricted cash and cash equivalents decreased by $4.8 million from May 31, 2018. As a result, as of November 30, 2018, the Company had $0.5 million of unrestricted cash and cash equivalents and a working capital deficiency of $8.7 million. These factors, among others, raise substantial doubt regarding the Company’s ability to continue as a going concern.

https://www.sec.gov/Archives/edgar/data/1399855/000165495419000678/nauh_10q.htm

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| 676 views | | 5 replies (last January 30, 2019)
Post ID: @OP+Xg4bEsm

5 replies (most recent on top)

6 cents

https://finance.yahoo.com/

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Post ID: @7rkv+Xg4bEsm

9 cents

https://finance.yahoo.com/quote/NAUH/balance-sheet/

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Post ID: @5imm+Xg4bEsm

Shares down to 11 cents but the stock may be worse than useless.

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Post ID: @1nrl+Xg4bEsm

Looks like they also picked up a new lawsuit.

In December 2018, NAU was served with a lawsuit (Summons and Petition) commenced by two former students of NAU, Shayanne Bowman and Jackquelynn Mortenson (Plaintiffs), in Missouri state court, alleging claims of fraud and misrepresentations as to the quality and value of the educational degrees that were being pursued by the two Plaintiffs, and also a claim under the Missouri Merchandising Practices Act. The Petition (complaint) does not specify the damages being sought by Plaintiffs in the lawsuit. The case is styled Shayanne Bowman and Jackquelynn Mortenson v. Dlorah, Inc., d/b/a National American University, et al., Case No. 1816-cv30104, and is pending in Jackson County Circuit Court (MO). Three individual defendants were also included in the lawsuit, all former employees of NAU. The Company served and filed, on January 2, 2019, a formal response to the Petition in the form of a motion to dismiss the Petition. The Company simultaneously filed papers seeking to remove the lawsuit to federal court. The Company’s response to the lawsuit denied any legal wrongdoing or liability. The Company intends to vigorously defend the lawsuit. We cannot predict the outcome of this litigation, nor its ability to harm our reputation, impose litigation costs, or materially adversely affect our business, financial condition, and results of operations. The amount or range of reasonably possible losses cannot be determined at this time and, accordingly, no liability has been accrued for this matter.

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Post ID: @eft+Xg4bEsm

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