Note 1 - Basis of Presentation	9 Months Ended
Jun. 29, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	NOTE 1—BASIS OF PRESENTATION The accompanying unaudited interim condensed consolidated financial statements of Learning Tree International, Inc. and our subsidiaries (collectively, “Learning Tree,” “Company,” “we,” “our” or “us”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10 -Q and, therefore, omit or condense certain note disclosures and other information required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. We use the 52/53 -week fiscal year method to better align our external financial reporting with the manner in which we operate our business. Under this method, each fiscal quarter ends on the Friday closest to the end of the calendar quarter. Accordingly, our third quarter of the current fiscal year ended on June 29, 2018 and encompassed 13 weeks, and our third quarter of the prior fiscal year ended on June 30, 2017 and also encompassed 13 weeks. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements reflect all adjustments, that are only of a normal recurring nature, considered necessary to present fairly our financial position as of June 29, 2018, and our results of operations for the three and nine months ended June 29, 2018 and June 30, 2017, and our cash flows for the nine months ended June 29, 2018 and June 30, 2017. Company Going Concern . The financial statements have been prepared assuming that the Company will continue as a going concern, but due to the Company’s future liquidity needs, history of net annual losses, and negative cash flows from operations, there was substantial doubt about the Company’s ability to continue as a going concern as more fully described in our Annual Report on Form 10 -K for the fiscal year ended September 29, 2017. These financial statements should therefore be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10 -K for the fiscal year ended September 29, 2017. The unaudited interim condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. During the third quarter of fiscal year 2018, we entered into a Line of Credit Agreement, dated June 29, 2018 ( the “Credit Agreement”), with The Kevin Ross Gruneich Legacy Trust (the “Trust”) that provides the Company with access to borrow up to $5.0 million to support its capital and liquidity needs. On June 29, 2018, the Company immediately borrowed $2.0 million under the Credit Agreement. The terms of the Credit Agreement also contain a subjective acceleration clause that can be triggered if the lender determines that we have Events of Default that would reasonably be expected to have a Material Adverse Effect, as defined in the Credit Agreement, and continuance thereof for ten ( 10 ) calendar days, which in turn would permit the lender to accelerate repayment of outstanding obligations. We continue to take steps to stabilize revenues and decrease our expenses on a year over year basis for fiscal year 2018 and beyond. See Note 13 of these unaudited interim Condensed Consolidated Financial Statements for more information about the Credit Agreement and the AC Financing Agreement. As of the third quarter of fiscal year 2018, which ended June 29, 2018, we reported an accumulated deficit of $19.8 million, compared to $17.4 million at the end of fiscal year 2017. While we have reported negative cash flow from operations for the nine months ended June 29, 2018, and for the previous five fiscal years as our revenues have declined each year during this period, the negative cash flow has been declining. For the nine months ended June 29, 2018, we used $1.9 million of cash for operating activities compared to $3.3 million of cash for the nine months ended June 30, 2017. At June 29, 2018, our capital resources consisted of cash and cash equivalents of $4.8 million, compared to $5.1 million at September 29, 2017. The stabilization of revenues and reduction in cost of revenues and operating expenses are integral to our goal of achieving a break-even operating income line and positive cash flow from operations. We cannot provide assurances that our plans will not change, that changed circumstances will not result in the depletion of our capital resources more rapidly than we currently anticipate, or that we will be successful in securing additional liquidity.

NOTE

1—BASIS

OF PRESENTATION

The accompanying unaudited interim condensed consolidated financial statements of Learning Tree International, Inc. and our subsidiaries (collectively, “Learning Tree,” “Company,” “we,” “our” or “us”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form

-Q and, therefore, omit or condense certain note disclosures and other information required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements.

We use the

52/53

-week fiscal year method to better align our external financial reporting with the manner in which we operate our business. Under this method, each fiscal quarter ends on the Friday closest to the end of the calendar quarter. Accordingly, our

third

quarter of the current fiscal year ended on

June 29, 2018

and encompassed

weeks, and our

third

quarter of the prior fiscal year ended on

June 30, 2017

and also encompassed

weeks.

In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements reflect all adjustments, that are only of a normal recurring nature, considered necessary to present fairly our financial position as of

June 29, 2018,

and our results of operations for the

three

and

nine

months ended

June 29, 2018

and

June 30, 2017,

and our cash flows for the

nine

months ended

June 29, 2018

and

June 30, 2017.

Company Going Concern

. The financial statements have been prepared assuming that the Company will continue as a going concern, but due to the Company’s future liquidity needs, history of net annual losses, and negative cash flows from operations, there was substantial doubt about the Company’s ability to continue as a going concern as more fully described in our Annual Report on Form

-K for the fiscal year ended

September 29, 2017.

These financial statements should therefore be read in conjunction with the audited consolidated financial statements and accompanying notes included in our Annual Report on Form

-K for the fiscal year ended

September 29, 2017.

The unaudited interim condensed consolidated financial statements do

not

include any adjustments that might result from the outcome of this uncertainty.

During the

third

quarter of fiscal year

2018,

we entered into a Line of Credit Agreement, dated

June 29, 2018 (

the “Credit Agreement”), with The Kevin Ross Gruneich Legacy Trust (the “Trust”) that provides the Company with access to borrow up to

$5.0

million to support its capital and liquidity needs. On

June 29, 2018,

the Company immediately borrowed

$2.0

million under the Credit Agreement. The terms of the Credit Agreement also contain a subjective acceleration clause that can be triggered if the lender determines that we have Events of Default that would reasonably be expected to have a Material Adverse Effect, as defined in the Credit Agreement, and continuance thereof for

ten

(

) calendar days, which in turn would permit the lender to accelerate repayment of outstanding obligations. We continue to take steps to stabilize revenues and decrease our expenses on a year over year basis for fiscal year

2018

and beyond. See Note

of these unaudited interim Condensed Consolidated Financial Statements for more information about the Credit Agreement and the AC Financing Agreement.

As of the

third

quarter of fiscal year

2018,

which ended

June 29, 2018,

we reported an accumulated deficit of

$19.8

million, compared to

$17.4

million at the end of fiscal year

2017.

While we have reported negative cash flow from operations for the

nine

months ended

June 29, 2018,

and for the previous

five

fiscal years as our revenues have declined each year during this period, the negative cash flow has been declining. For the

nine

months ended

June 29, 2018,

we used

$1.9

million of cash for operating activities compared to

$3.3

million of cash for the

nine

months ended

June 30, 2017.

June 29, 2018,

our capital resources consisted of cash and cash equivalents of

$4.8

million, compared to

$5.1

million at

September 29, 2017.

The stabilization of revenues and reduction in cost of revenues and operating expenses are integral to our goal of achieving a break-even operating income line and positive cash flow from operations. We cannot provide assurances that our plans will

not

change, that changed circumstances will

not

result in the depletion of our capital resources more rapidly than we currently anticipate, or that we will be successful in securing additional liquidity.