American Education Center, Inc. (AMCT) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
2 WALL STREET NEW YORK, NY 10005 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 82 - Educational Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2021 MRQ | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 912 | 1,035 | 1,986 | 2,721 | 2,290 | 1,094 | |||
| Cash and cash equivalents | 912 | 1,035 | 1,986 | 2,721 | 2,290 | 1,094 | |||
| Receivables | 142 | 2,874 | 2,906 | 6,482 | 2,888 | 1,114 | |||
| Prepaid expense | 213 | 254 | 301 | 307 | 62 | 96 | |||
| Total current assets: | 1,266 | 4,163 | 5,192 | 9,510 | 5,240 | 2,304 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 315 | 2,150 | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 8 | 6 | |||||||
| Intangible assets, net (including goodwill) | 264 | 272 | 420 | 443 | 579 | ||||
| Goodwill | 140 | ||||||||
| Intangible assets, net (excluding goodwill) | 124 | 272 | 420 | 443 | 579 | ||||
| Deposits noncurrent assets | 23 | 285 | 266 | 266 | 266 | 266 | |||
| Deferred costs | 917 | 2,017 | 3,315 | ||||||
| Deferred income tax assets | 948 | 558 | ✕ | ✕ | ✕ | ✕ | |||
| Other undisclosed noncurrent assets | 428 | 26 | 98 | ||||||
| Total noncurrent assets: | 1,558 | 3,271 | 2,031 | 2,751 | 4,258 | 266 | |||
| TOTAL ASSETS: | 2,824 | 7,434 | 7,224 | 12,261 | 9,498 | 2,570 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 2,322 | 2,867 | 4,674 | 4,070 | 3,452 | 1,211 | |||
| Taxes payable | 0 | 61 | 775 | 511 | |||||
| Other undisclosed accounts payable and accrued liabilities | 2,321 | 2,807 | 4,674 | 3,295 | 2,941 | 1,211 | |||
| Deferred revenue | 102 | 216 | ✕ | ✕ | ✕ | ✕ | |||
| Debt | 332 | ||||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 20 | 177 | 554 | ||
| Due to related parties | 98 | 146 | 114 | 89 | |||||
| Customer advances and deposits | ✕ | ✕ | ✕ | ✕ | 15 | 64 | |||
| Other undisclosed current liabilities | 1,156 | 635 | 288 | 775 | 511 | ||||
| Total current liabilities: | 3,580 | 4,148 | 5,107 | 4,881 | 4,255 | 1,917 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 562 | 2,068 | 146 | 296 | 296 | ||||
| Long-term debt, excluding current maturities | 313 | 146 | 296 | 296 | |||||
| Liabilities, other than long-term debt | 221 | 192 | 156 | 104 | |||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 192 | 156 | 104 | ||
| Deferred rent credit | 221 | ✕ | ✕ | ✕ | |||||
| Operating lease, liability | 249 | 2,068 | ✕ | ✕ | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | (249) | ||||||||
| Total noncurrent liabilities: | 562 | 2,068 | 221 | 337 | 451 | 400 | |||
| Total liabilities: | 4,142 | 6,215 | 5,329 | 5,218 | 4,706 | 2,317 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | (1,362) | 1,169 | 1,839 | 7,043 | 4,792 | 253 | |||
| Preferred stock | 1 | ||||||||
| Common stock | 60 | 57 | 57 | 41 | 41 | 30 | |||
| Treasury stock, value | (660) | (660) | |||||||
| Additional paid in capital | 8,536 | 8,268 | 8,206 | 6,021 | 4,022 | 214 | |||
| Deferred compensation equity | (917) | (2,017) | (3,315) | ||||||
| Accumulated other comprehensive income (loss) | (52) | (5) | (14) | 7 | |||||
| Retained earnings (accumulated deficit) | (8,678) | (5,924) | (5,715) | 974 | 729 | 9 | |||
| Stockholders' equity note, subscriptions receivable | (592) | (592) | (720) | ✕ | |||||
| Other undisclosed equity, attributable to parent | 25 | 25 | 942 | 2,017 | 3,315 | ||||
| Equity, attributable to noncontrolling interest | 44 | 50 | 56 | ||||||
| Total equity: | (1,318) | 1,218 | 1,895 | 7,043 | 4,792 | 253 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,824 | 7,434 | 7,224 | 12,261 | 9,498 | 2,570 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2021 TTM | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 342 | 5,308 | 7,012 | 25,798 | 13,674 | 9,012 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 25,798 | 13,674 | 9,012 | |
| Cost of revenue | (168) | (3,094) | (4,498) | (17,866) | (9,868) | (6,084) | ||
| Gross profit: | 175 | 2,214 | 2,514 | 7,932 | 3,806 | 2,929 | ||
| Operating expenses | (3,621) | (4,081) | (10,317) | (7,334) | (2,867) | (2,341) | ||
| Operating income (loss): | (3,446) | (1,867) | (7,802) | 598 | 940 | 587 | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | 240 | 2 | 14 | (0) | (4) | 1 | ||
| Interest and debt expense | (1) | (15) | (15) | (27) | (30) | (33) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 1 | 15 | 15 | 28 | 30 | 33 | ||
| Income (loss) from continuing operations before income taxes: | (3,206) | (1,864) | (7,788) | 598 | 935 | 589 | ||
| Income tax expense (benefit) | 447 | 31 | 1,097 | (353) | (216) | (335) | ||
| Income (loss) from continuing operations: | (2,760) | (1,833) | (6,691) | 245 | 720 | 254 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | (2,760) | (1,833) | (6,691) | 245 | 720 | 254 | |
| Net income (loss): | (2,760) | (1,833) | (6,691) | 245 | 720 | 254 | ||
| Net income attributable to noncontrolling interest | 6 | 6 | 3 | |||||
| Other undisclosed net income attributable to parent | 562 | |||||||
| Net income (loss) available to common stockholders, diluted: | (2,754) | (1,265) | (6,688) | 245 | 720 | 254 | ||
Comprehensive Income ($ in thousands)
| 6/30/2021 TTM | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (2,760) | (1,833) | (6,691) | 245 | 720 | 254 | ||
| Other undisclosed comprehensive income (loss) | (48) | 571 | (21) | |||||
| Comprehensive income (loss): | (2,807) | (1,262) | (6,712) | 245 | 720 | 254 | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 6 | 6 | 3 | |||||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 7 | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (2,801) | (1,256) | (6,709) | 252 | 720 | 254 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.