Secured Note and Accounts Receivable |
3 Months Ended |
|---|---|
Jul. 31, 2021 | |
| Due from Related Parties, Unclassified [Abstract] | 听 |
| Secured Note and Accounts Receivable | Secured Note and Accounts Receivable
On March 30, 2008 and December 1, 2008, 果冻APP传媒 University sold courseware pursuant to marketing agreements to Higher Education Management Group, Inc. (鈥淗EMG鈥), which was then a related party and principal stockholder of the Company. Ultimately, the sum due to 果冻APP传媒 University was reduced to $772,793, and 果冻APP传媒 University obtained a judgment for that amount. HEMG then filed a bankruptcy petition in 2015. As of April听30, 2021, the balance of the account receivable, net of allowance, was $45,329.
On July 21, 2021, the Company received its distribution from the bankruptcy trustee court of $498,120, which is included in "other income (expense), net" in the accompanying unaudited consolidated statements of operations. As a result, the Company wrote off the net receivable of $45,329, described above, at July听31, 2021. No further assets are available for distribution. See Note 11 for additional information.
|