American Education Center, Inc. (AMCT) financial statements (2020 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)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 1,9862,7212,2901,094
Cash and cash equivalents 1,9862,7212,2901,094
Receivables 2,9066,4822,8881,114
Prepaid expense 3013076296
Total current assets: 5,1929,5105,2402,304
Noncurrent Assets
Intangible assets, net (including goodwill) 420443579 
Intangible assets, net (excluding goodwill) 420443579 
Deposits noncurrent assets 266266266266
Deferred costs 9172,0173,315 
Other undisclosed noncurrent assets 4282698 
Total noncurrent assets: 2,0312,7514,258266
TOTAL ASSETS: 7,22412,2619,4982,570
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 4,6744,0703,4521,211
Taxes payable  775511 
Other undisclosed accounts payable and accrued liabilities 4,6743,2952,9411,211
Due to related parties 146 11489
Deferred revenue and credits20177554
Customer advances and deposits15 64
Other undisclosed current liabilities 288775511 
Total current liabilities: 5,1074,8814,2551,917
Noncurrent Liabilities
Long-term debt and lease obligation  146296296
Long-term debt, excluding current maturities  146296296
Liabilities, other than long-term debt 221192156104
Deferred revenue and credits192156104
Deferred rent credit 221
Total noncurrent liabilities: 221337451400
Total liabilities: 5,3295,2184,7062,317
Stockholders' equity
Stockholders' equity attributable to parent, including: 1,8397,0434,792253
Preferred stock  1  
Common stock 57414130
Additional paid in capital 8,2066,0214,022214
Deferred compensation equity (917)(2,017)(3,315) 
Accumulated other comprehensive income (loss) (14)7  
Retained earnings (accumulated deficit) (5,715)9747299
Stockholders' equity note, subscriptions receivable (720)  
Other undisclosed stockholders' equity attributable to parent 9422,0173,315 
Stockholders' equity attributable to noncontrolling interest 56   
Total stockholders' equity: 1,8957,0434,792253
TOTAL LIABILITIES AND EQUITY: 7,22412,2619,4982,570

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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues 7,01225,79813,6749,012
Revenue, net25,79813,6749,012
Cost of revenue (4,498)(17,866)(9,868)(6,084)
Gross profit: 2,5147,9323,8062,929
Operating expenses (10,317)(7,334)(2,867)(2,341)
Operating income (loss): (7,802)598940587
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
 14(0)(4)1
Interest and debt expense (15)(27)(30)(33)
Other undisclosed income from continuing operations before equity method investments, income taxes 15283033
Income (loss) from continuing operations before income taxes: (7,788)598935589
Income tax expense (benefit) 1,097(353)(216)(335)
Net income (loss): (6,691)245720254
Net income attributable to noncontrolling interest 3   
Net income (loss) available to common stockholders, diluted: (6,688)245720254

Comprehensive Income ($ in thousands)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss): (6,691)245720254
Other undisclosed comprehensive loss (21)   
Comprehensive income (loss): (6,712)245720254
Comprehensive income, net of tax, attributable to noncontrolling interest 3   
Other undisclosed comprehensive income, net of tax, attributable to parent  7  
Comprehensive income (loss), net of tax, attributable to parent: (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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