CONSOLIDATED BALANCE SHEETS - USD ($)	Jan. 31, 2023	Apr. 30, 2022
Current assets:
Cash and cash equivalents	$ 1,603,501	$ 6,482,750
Restricted cash	4,923,525	6,433,397
Accounts receivable, net of allowance	22,517,343	24,359,241
Prepaid expenses	925,890	1,358,635
Other current assets	1,050,307	748,568
Total current assets	31,020,566	39,382,591
Property and equipment:
Computer equipment and hardware	1,584,826	1,516,475
Furniture and fixtures	2,219,245	2,193,261
Leasehold improvements	8,046,844	7,179,896
Instructional equipment	756,568	715,652
Software	11,306,700	10,285,096
Construction in progress	0	2,100
Property and equipment, gross	23,914,183	21,892,480
Less: accumulated depreciation and amortization	(11,102,309)	(8,395,001)
Total property and equipment, net	12,811,874	13,497,479
Goodwill	5,011,432	5,011,432
Intangible assets, net	7,900,000	7,900,000
Courseware, net	288,024	274,047
Long-term contractual accounts receivable	16,280,621	11,406,525
Deferred financing costs	155,041	369,902
Operating lease right-of-use assets, net	13,865,872	12,645,950
Deposits and other assets	501,190	578,125
Total assets	87,834,620	91,066,051
Current liabilities:
Accounts payable	2,247,043	1,893,287
Accrued expenses	3,118,533	2,821,432
Deferred revenue	8,075,063	5,889,911
Due to students	2,977,365	4,063,811
Current portion of long-term debt	5,000,000	0
Operating lease obligations, current portion	2,346,766	2,036,570
Other current liabilities	306,484	130,262
Total current liabilities	24,071,254	16,835,273
Long-term debt, net	9,957,328	14,875,735
Operating lease obligations, less current portion	17,869,754	16,809,319
Total liabilities	51,898,336	48,520,327
Commitments and contingencies – see Note 10
Stockholders’ equity:
Preferred stock, $0.001 par value; 1,000,000 shares authorized	0	0
Common stock, $0.001 par value; 60,000,000 shares authorized	25,587	25,358
Additional paid-in capital	113,035,546	112,081,564
Treasury stock	(1,817,414)	(1,817,414)
Accumulated deficit	(75,307,435)	(67,743,784)
Total stockholders’ equity	35,936,284	42,545,724
Total liabilities and stockholders’ equity	$ 87,834,620	$ 91,066,051

ASPEN GROUP, INC. 10-Q