American Education Center, Inc. (AMCT) financial statements (2021 and earlier)

Company profile

Business Address 2 WALL STREET
NEW YORK, NY 10005
State of Incorp. NV
Fiscal Year End December 31
SIC 82 - Educational Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

9/30/2020
TTM
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 1,0351,9862,7212,2901,094
Cash and cash equivalents 1,0351,9862,7212,2901,094
Receivables 2,8742,9066,4822,8881,114
Prepaid expense 2543013076296
Total current assets: 4,1635,1929,5105,2402,304
Noncurrent Assets
Operating lease, right-of-use asset 2,150
Property, plant and equipment 6    
Intangible assets, net (including goodwill) 272420443579 
Intangible assets, net (excluding goodwill) 272420443579 
Deposits noncurrent assets 285266266266266
Deferred costs  9172,0173,315 
Deferred income tax assets 558
Other undisclosed noncurrent assets  4282698 
Total noncurrent assets: 3,2712,0312,7514,258266
TOTAL ASSETS: 7,4347,22412,2619,4982,570
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 2,8674,6744,0703,4521,211
Taxes payable 61 775511 
Other undisclosed accounts payable and accrued liabilities 2,8074,6743,2952,9411,211
Deferred revenue 216
Debt 332    
Due to related parties 98146 11489
Deferred revenue and credits20177554
Customer advances and deposits15 64
Other undisclosed current liabilities 635288775511 
Total current liabilities: 4,1485,1074,8814,2551,917
Noncurrent Liabilities
Long-term debt and lease obligation 2,068 146296296
Long-term debt, excluding current maturities   146296296
Operating lease, liability 2,068
Liabilities, other than long-term debt  221192156104
Deferred revenue and credits192156104
Deferred rent credit  221
Total noncurrent liabilities: 2,068221337451400
Total liabilities: 6,2155,3295,2184,7062,317
Stockholders' equity
Stockholders' equity attributable to parent, including: 1,1691,8397,0434,792253
Preferred stock   1  
Common stock 5757414130
Treasury stock, value (660)    
Additional paid in capital 8,2688,2066,0214,022214
Deferred compensation equity  (917)(2,017)(3,315) 
Accumulated other comprehensive income (loss) (5)(14)7  
Retained earnings (accumulated deficit) (5,924)(5,715)9747299
Stockholders' equity note, subscriptions receivable (592)(720)  
Other undisclosed stockholders' equity attributable to parent 259422,0173,315 
Stockholders' equity attributable to noncontrolling interest 5056   
Total stockholders' equity: 1,2181,8957,0434,792253
TOTAL LIABILITIES AND EQUITY: 7,4347,22412,2619,4982,570

Income statement (P&L) ($ in thousands)

9/30/2020
TTM
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues 5,3087,01225,79813,6749,012
Revenue, net25,79813,6749,012
Cost of revenue (3,094)(4,498)(17,866)(9,868)(6,084)
Gross profit: 2,2142,5147,9323,8062,929
Operating expenses (4,081)(10,317)(7,334)(2,867)(2,341)
Operating income (loss): (1,867)(7,802)598940587
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
 214(0)(4)1
Interest and debt expense (15)(15)(27)(30)(33)
Other undisclosed income from continuing operations before equity method investments, income taxes 1515283033
Income (loss) from continuing operations before income taxes: (1,864)(7,788)598935589
Income tax expense (benefit) 311,097(353)(216)(335)
Net income (loss): (1,833)(6,691)245720254
Net income attributable to noncontrolling interest 63   
Other undisclosed net income attributable to parent 562    
Net income (loss) available to common stockholders, diluted: (1,265)(6,688)245720254

Comprehensive Income ($ in thousands)

9/30/2020
TTM
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss): (1,833)(6,691)245720254
Other undisclosed comprehensive income (loss) 571(21)   
Comprehensive income (loss): (1,262)(6,712)245720254
Comprehensive income, net of tax, attributable to noncontrolling interest 63   
Other undisclosed comprehensive income, net of tax, attributable to parent   7  
Comprehensive income (loss), net of tax, attributable to parent: (1,256)(6,709)252720254

Statements sources

The financial statements are based on the company's filings with the 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.

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