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Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income (loss)$ (1,016,437)$ 337,918
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:  
Depreciation350,000190,749
Deferred income taxes(574,000)174,000
Deferred rent140,381273,020
Stock-based compensation64,000135,500
Changes in operating assets and liabilities:  
Student receivables(5,787)51,895
Inventory 215,293
Prepaid expenses7,83466,568
Other assets137,124(53,404)
Accounts payable and accrued expenses(267,308)(98,141)
Student credit balances41,29049,808
Income taxes(50,000)(62,006)
Net cash provided by (used in) operating activities(1,172,903)1,281,200
CASH FLOWS FROM INVESTING ACTIVITIES:  
Purchases of property and equipment(372,778)(1,054,120)
Net change in due from affiliates(42,469) 
Net cash used in investing activities(415,247)(1,054,120)
CASH FLOWS FROM FINANCING ACTIVITIES:  
Net change in due to affiliates159,332(35,099)
Preferred dividends paid(30,000)(30,000)
Net cash provided by (used in) financing activities129,332(65,099)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS(1,458,818)161,981
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD4,527,4155,591,079
CASH AND CASH EQUIVALENTS AT END OF PERIOD3,068,5975,753,060
SUPPLEMENTAL DISCLOSURES:  
Cash paid for income taxes 100,000
Non-cash activities:  
Other current assets for inventory returns $ 209,509