Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2016 | Dec. 29, 2016 | Apr. 01, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | LEARNING TREE INTERNATIONAL, INC. | ||
Entity Central Index Key | 1,002,037 | ||
Trading Symbol | ltre | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 13,224,349 | ||
Entity Public Float | $ 4,148,216 | ||
Document Type | 10-K | ||
Document Period End Date | Sep. 30, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Assets | ||
Cash and cash equivalents | $ 8,540 | $ 17,936 |
Trade accounts receivable, net | 9,538 | 10,475 |
Income tax receivable | 208 | 498 |
Prepaid expenses | 1,916 | 2,773 |
Other current assets | 1,424 | 1,747 |
Total current assets | 21,626 | 33,429 |
Education and office equipment | 32,388 | 33,165 |
Transportation equipment | 43 | 70 |
Property and leasehold improvements | 18,469 | 17,931 |
50,900 | 51,166 | |
Less: accumulated depreciation and amortization | (44,990) | (45,096) |
5,910 | 6,070 | |
Restricted interest-bearing investments | 2,943 | 3,265 |
Deferred income taxes | 427 | 476 |
Other assets | 701 | 681 |
Total assets | 31,607 | 43,921 |
Current Liabilities: | ||
Trade accounts payable | 6,095 | 6,744 |
Deferred revenues | 21,017 | 22,909 |
Accrued payroll, benefits and related taxes | 2,414 | 2,865 |
Other accrued liabilities | 973 | 1,225 |
Income taxes payable | 0 | 174 |
Current portion of deferred facilities rent and other | 1,667 | 1,401 |
Total current liabilities | 32,166 | 35,318 |
Asset retirement obligations | 1,369 | 1,669 |
Deferred income taxes | 89 | 134 |
Deferred facilities rent and other | 6,297 | 2,575 |
Noncurrent tax liabilities | 1,475 | 1,178 |
Total liabilities | 41,396 | 40,874 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' (DEFICIT) EQUITY | ||
Preferred stock, $.0001 par value; 1,000,000 shares authorized; 0 shares issued and outstanding | 0 | 0 |
Common stock, $.0001 par value; 75,000,000 shares authorized; 13,224,349 shares issued and outstanding | 1 | 1 |
Additional paid-in capital | 6,388 | 6,224 |
Accumulated other comprehensive loss | (882) | (578) |
Accumulated deficit | (15,296) | (2,600) |
Total stockholders' (deficit) equity | (9,789) | 3,047 |
Total liabilities and stockholders' (deficit) equity | $ 31,607 | $ 43,921 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Sep. 30, 2016 | Oct. 02, 2015 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, authorized shares (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 75,000,000 | 75,000,000 |
Common stock, shares issued (in shares) | 13,224,349 | 13,224,349 |
Common stock, shares outstanding (in shares) | 13,224,349 | 13,224,349 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Revenues | $ 81,587 | $ 94,884 |
Cost of revenues | 50,163 | 55,809 |
Gross profit | 31,424 | 39,075 |
Operating expenses: | ||
Course development | 5,128 | 8,146 |
Sales and marketing | 17,966 | 21,591 |
General and administrative | 18,902 | 19,029 |
Restructuring charge | 1,940 | 0 |
Operating expenses | 43,936 | 48,766 |
Loss from operations before other operating items | (12,512) | (9,691) |
Other operating items: | ||
Gain (loss) on disposal of property, plant and equipment | 11 | (4) |
Other operating items | 11 | (4) |
Loss from operations | (12,501) | (9,695) |
Interest income, net | 15 | 23 |
Foreign exchange gains | 215 | 340 |
Other | (3) | (9) |
227 | 354 | |
Loss from continuing operations before provision for income taxes | (12,274) | (9,341) |
Provision for income taxes | 422 | 467 |
Loss from continuing operations | (12,696) | (9,808) |
Discontinued operations (Note 12) | ||
Loss from discontinued operations, net of tax | 0 | (264) |
Loss on disposal of discontinued segment | 0 | (2,501) |
0 | (2,765) | |
Net loss | $ (12,696) | $ (12,573) |
(Loss) income per common share - basic and diluted: | ||
Continuing operations (in dollars per share) | $ (0.96) | $ (0.74) |
Discontinued operations (in dollars per share) | 0 | (0.21) |
Basic and diluted loss per share (in dollars per share) | $ (0.96) | $ (0.95) |
Weighted average shares outstanding - basic (in shares) | 13,224 | 13,224 |
Weighted average shares outstanding - diluted (in shares) | 13,224 | 13,224 |
Comprehensive loss: | ||
Net loss | $ (12,696) | $ (12,573) |
Foreign currency translation adjustments | (304) | (253) |
$ (13,000) | $ (12,826) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings, Appropriated [Member] | Total |
Balance (in shares) at Oct. 03, 2014 | 13,222,000 | ||||
Balance at Oct. 03, 2014 | $ 1 | $ 6,148 | $ (325) | $ 9,973 | $ 15,797 |
Net loss | 0 | 0 | 0 | (12,573) | (12,573) |
Foreign currency translation | 0 | 0 | (253) | 0 | (253) |
Share-based compensation | $ 0 | 76 | 0 | 0 | 76 |
Restricted stock units released (in shares) | 2,000 | ||||
Restricted stock units released | $ 0 | 0 | 0 | 0 | $ 0 |
Balance (in shares) at Oct. 02, 2015 | 13,224,000 | 13,224,349 | |||
Balance at Oct. 02, 2015 | $ 1 | 6,224 | (578) | (2,600) | $ 3,047 |
Net loss | 0 | 0 | 0 | (12,696) | (12,696) |
Foreign currency translation | 0 | 0 | (304) | 0 | (304) |
Share-based compensation | $ 0 | 164 | 0 | 0 | $ 164 |
Balance (in shares) at Sep. 30, 2016 | 13,224,000 | 13,224,349 | |||
Balance at Sep. 30, 2016 | $ 1 | $ 6,388 | $ (882) | $ (15,296) | $ (9,789) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Cash flows - operating activities | ||
Net loss | $ (12,696) | $ (12,573) |
Loss on sale | 0 | 2,501 |
Loss from discontinued operations, net of tax | 0 | 264 |
Loss from continuing operations | (12,696) | (9,808) |
Adjustments to reconcile net loss from continuing operations to net cash used in continuing operating activities: | ||
Depreciation and amortization | 2,830 | 4,318 |
Share-based compensation | 164 | 76 |
Deferred income taxes | (29) | (30) |
Provision for doubtful accounts | 391 | 63 |
Accretion on asset retirement obligations | 76 | 79 |
(Gain) loss on disposal of equipment, property and leasehold improvements | (11) | 4 |
Restructuring charge | 1,940 | 0 |
Unrealized foreign exchange gains | (205) | (298) |
Settlement of asset retirement obligation | (77) | 0 |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | 404 | 2,766 |
Prepaid expenses and other assets | 914 | (506) |
Income tax receivable / payable | 405 | (81) |
Trade accounts payable | (483) | 453 |
Deferred revenues | (1,274) | (2,866) |
Deferred facilities rent and other | (438) | (1,386) |
Asset retirement obligation | (128) | 0 |
Other accrued liabilities | (774) | (2,241) |
Net cash used in operating activities of continuing operations | (8,991) | (9,457) |
Net cash used in operating activities of discontinued operations | 0 | (210) |
Net cash used in operating activities | (8,991) | (9,667) |
Cash flows - investing activities: | ||
Purchases of equipment, property and leasehold improvements | (385) | (2,255) |
Proceeds from sale of equipment, property and leasehold improvements | 12 | 22 |
Net cash used in investing activities of continuing operations | (373) | (2,233) |
Net cash used in investing activities of discontinued operations | 0 | (745) |
Net cash used in investing activities | (373) | (2,978) |
Effects of exchange rate changes on cash and cash equivalents of continuing operations | (32) | (255) |
Effects of exchange rate changes on cash and cash equivalents of discontinued operations | 0 | (242) |
Effects of exchange rate changes on cash and cash equivalents | (32) | (497) |
Net change in cash and cash equivalents of discontinued operations | 0 | (1,197) |
Net decrease in cash and cash equivalents | (9,396) | (11,945) |
Cash and cash equivalents at the beginning of the period | 17,936 | 29,881 |
Cash and cash equivalents at the end of the period | 8,540 | 17,936 |
Supplemental disclosures: | ||
Income taxes paid | 191 | 580 |
Interest paid | 16 | 3 |
Capital lease | 472 | 0 |
Leasehold Improvements [Member] | ||
Supplemental disclosures: | ||
Non-cash leasehold improvements | $ 2,106 | $ 0 |
Note 1 - Nature of the Business
Note 1 - Nature of the Business and Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. a. Nature of the Business Learning Tree International, Inc. and subsidiaries (“the Company,” “we,” “us,” or “our”) develop, market, and deliver a broad, predominately proprietary, library of instructor - led classroom courses that are designed to meet the professional development needs of information technology (“IT”) professionals and managers worldwide. These courses are delivered primarily at our leased education centers located in the United States, the United Kingdom, Canada, Sweden and Japan. Such course events are also conducted from specially equipped facilities, in hotel and conference facilities, and at customer sites throughout the world. Almost all of our course titles are also available to individuals located worldwide through Learning Tree AnyWare™, our patent - pending live online learning interface that allows individuals at any location to attend a live instructor - led Learning Tree class via the Internet. Our courses provide both breadth and depth of education across a wide range of technical and management disciplines, including operating systems, databases, computer networks, computer and network security, web development, programming languages, software engineering, open source applications, project management, business skills, and leadership and professional development. We follow a 52 53 September. 2016 September 30, 2016, 2015 October 2, 2015. September 30, 2016, October 2, 2015, September 30, 2016 October 2, 2015. 2016 2015 52 Certain items in the fiscal year 2015 b. Basis of Presentation As of and for the fiscal year ended September 30, 2016, $15.3 2016 four September 30, 2016, $8.5 2017, To address the decline in revenue, we have been executing upon new strategies to increase the number of attendees in our public courses and expand our overall customer base. A number of these strategies relate to pricing promotions to attract new customers or to re - engage old customers that have not used our services in many years. We are also partnering with certification organizations, hardware and software vendors, as well some other training providers to augment the breadth of training courses we can offer to organizations. Another strategy is to grow our position as a leading worldwide provider of training and workforce development to IT professionals and managers through the continued growth of our Workforce Optimization Solutions. Workforce Optimization Solutions augments and enhances our core training capabilities enabling Learning Tree to partner with our customers in helping them develop a high - performing organization through workforce development and process improvement. We have accelerated our Comprehensive Cost Reduction Program with the goal of significantly reducing our fiscal year 2017 $10.0 $12.0 2016. $6.8 2016 2015. 2017 • Eliminated our direct mail course catalog advertising program. In addition to being a “green initiative”, we believe that our overall customer - base has shifted the manner in which it selects and purchases courses away from printed catalogs toward greater use of digital channels, such as website, social media and digital advertising. • Made our course notes available electronically and only produce a paper copy if requested by our attendee. • Completed, during the fourth 2016, 26 • Reduced the compensation paid to our Board of Directors in 2016, August 1, 2016, • Reduced our real estate costs, through the elimination or nonrenewal of certain leased facilities and negotiation for replacement facilities. As other facility leases expire, additional cost reductions will be evaluated. As part of this program, Learning Tree will continue to review and take appropriate actions to streamline its operations in order to reduce or eliminate excess costs. To further address our liquidity needs in the near term, on January 12, 2017, $3.0 85% may, may 14 We are also continuing to evaluate additional sources of capital and financing. We have retained the services of a financial advisor to assist us in assessing strategic options available to the Company to improve liquidity. However, there is no assurance that additional capital and/or financing will be available to the Company, and even if available, whether it will be on terms acceptable to us or in amounts required. The stabilization of revenues and reduction in costs are integral to our goal of achieving a break even operating income line and a positive cash flow from operations for fiscal year 2017. c. Principles of Consolidation The accompanying consolidated financial statements include the accounts of Learning Tree International, Inc. and our subsidiaries. All significant intercompany accounts and transactions have been eliminated. The following is a list of our subsidiaries as of September 30, 2016: Learning Tree International USA, Inc. (U.S.) Learning Tree International, K.K. (Japan) Learning Tree International Ltd. (United Kingdom) Learning Tree International AB (Sweden) Learning Tree International Inc. (Canada) Advanced Technology Marketing, Inc. (U.S.) AnyWare Live, Inc. (U.S.) d. Revenue Recognition and Accounts Receivable Our revenues are received from business entities and government agencies for the professional training of their employees. Course events range in length from one five three 52 53 five 52 53 We offer our customers a multiple - course sales discount referred to as a “Learning Tree Training Passport” or “Training Passport”. A Learning Tree Training Passport allows an individual Passport holder to attend up to a specified number of Learning Tree courses over a one two We believe it is appropriate to recognize revenues on this basis in order to most closely match revenue and related costs, as the substantial majority of our Passport holders do not attend the maximum number of course events permitted under their Learning Tree Training Passport. We believe that the use of recent historical data is reasonable and appropriate because of the relative stability of the average actual number of course events attended by Passport holders. The average attendance rate for all expired Learning Tree Training Passports has closely approximated the estimated rate we utilize. Although we have seen no material changes in the historical rates as the number of course titles has changed, we monitor such potential effects. In general, determining the estimated average number of course events that will be attended by a Passport holder is based on historical trends that may may one two For Training Passport products for which historical utilization data is not available, we assume that the estimated average number of courses to be attended is equal to the number of courses available on the Training Passport. Assumed utilization rates may In addition to our Learning Tree Training Passports, we also offer a multiple - course sales discount referred to as “Learning Tree Training Vouchers” or Training Vouchers”. With Learning Tree Training Vouchers, a customer buys the right to send a specified number of attendees to Learning Tree courses over a six twelve twelve Trade accounts receivable are reduced by an allowance for amounts that may e. Share - Based Compensation We estimate the fair value of share - based option awards on the date of grant using an option - pricing model. We estimate the fair value of share - based restricted stock units and restricted stock grants using the closing price of our stock on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in our consolidated statements of operations and comprehensive loss. Our determination of fair value of share - based payment awards on the date of grant using an option - pricing model is affected by assumptions regarding a number of variables, including our expected stock price volatility, expected term, dividend yield and risk - free interest rates. We analyzed our historical volatility to estimate the expected volatility. The risk - free interest rate assumption is based on the U.S. Treasury rate at the date of grant, that most closely resembles the expected life of our options. The estimated expected life represents the weighted - average period the stock options are expected to remain outstanding and has been determined based on the simplified method under ASC 718, Compensation - Stock Compensation As share - based compensation expense recognized in the consolidated statements of operations and comprehensive loss is based on awards ultimately expected to vest, it has been reduced for estimated pre - vesting forfeitures. Forfeitures were estimated based on historical experience. f. Course Development Costs Course development costs are charged to operations in the period incurred. g. Advertising Advertising costs are charged to expense in the period incurred. Advertising costs totaled $383 $612 2016 2015, h. Cash and Cash Equivalents and Interest - bearing Investments We consider highly liquid investments with remaining maturities of ninety Restricted interest - bearing investments at September 30, 2016 $1,867 (1,439 $179 (1,534 $897 $2,185 (1,439 $184 (1,534 $896 October 2, 2015. i. Marketing Expenses Marketing expenses primarily include the external costs associated with the design, printing, postage, list rental and handling of direct mail advertising materials to be mailed in the future. These costs are charged to expense in the month in which the advertising materials are mailed since the benefit period for such costs is short and the amount of future benefit is not practically measurable. Marketing expenses for fiscal years 2016 2015 $5,857 $8,942 j. Equipment, Property and Leasehold Improvements Equipment, property and leasehold improvements are recorded at cost and depreciated or amortized using the straight - line method over the following estimated useful lives: Education and office equipment (years) 3 to 5 Transportation equipment (years) 4 Accounting software (years) 7 Leasehold improvements 20 years or the life of the lease, if shorter Depreciation and amortization expense totaled $2,830 $4,318 2016 2015, During fiscal year 2016, $1.8 $0.3 tenant The fair value of a liability for an asset retirement obligation (“ARO”) associated with a leased facility is recorded as an asset (leasehold improvements) and a liability when there is a legal obligation associated with the retirement of a long - lived asset and the amount can be reasonably estimated. See also Note 2 k. Long - Lived Assets We periodically review the carrying value of our long - lived assets, such as equipment, property and leasehold improvements for impairment or whenever events or changes in circumstances indicate that the carrying value may l. Deferred Revenues Deferred revenues primarily relate to unearned revenues associated with Training Passports, Training Vouchers and advance payments received from customers for course events to be held in the future. m. Comprehensive loss We report comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. Other comprehensive loss represents changes in stockholders’ equity from non - owner sources and is comprised of foreign currency translation adjustments. At the end of fiscal year 2016, $(882) $(578) 2015. n. Income Taxes We provide for income taxes under the provisions of Financial Accounting Standards Board ASC 740, Income Taxes may The tax effects of uncertain tax positions are recognized in the consolidated financial statements only if the position is more likely than not to be sustained on audit, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50% 740 10 o. Foreign Currency We translate the financial statements of our foreign subsidiaries from the local (functional) currencies to U.S. dollars. The rates of exchange at each fiscal year end are used for translating the assets and liabilities and the average monthly rates of exchange for each year are used for the consolidated statements of operations and comprehensive loss. Gains or losses arising from the translation of the foreign subsidiaries’ financial statements are included in the accompanying consolidated balance sheets as a separate component of stockholders’ equity. Gains or losses resulting from foreign currency transactions are included in the consolidated statements of operations and comprehensive loss. To date, we have not sought to hedge the risk associated with fluctuations in currency exchange rates, and therefore we continue to be subject to such risk. p. Deferred Facilities Rent Operating Lease Activities: We lease education center and administrative office space under various operating lease agreements. Certain lease agreements include provisions that provide for cash incentives, graduated rent payments and other inducements. We recognize rent expense on a straight - line basis over the related terms of such leases. The value of lease incentives and/or inducements, along with the excess of the rent expense recognized over the rentals paid, is recorded as deferred facilities rent in the accompanying consolidated balance sheets. Lease Termination Activities: We record liabilities for costs that will be incurred under a contract without economic benefit at estimated fair value. We have vacated space in leased facilities subject to operating leases and recorded the estimated liability associated with future rentals at the cease - use date. The fair value of the liability at the cease - use date was determined based on the remaining cash flows for lease rentals, and minimum lease payments, reduced by estimated sublease rentals and certain subtenant reimbursements that could be reasonably obtained for the property, discounted using a credit - adjusted risk - free rate. The liability is adjusted for changes, if any, resulting from revisions to estimated cash flows after the cease - use date, measured using the original historical credit - adjusted risk - free rate. Changes due to the passage of time are recognized as an increase in the carrying amount of the liability and as accretion expense. q. Fair Value of Financial Instruments The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate their fair values because of the short - term nature of these instruments. r. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make judgments, estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. s. Recently Issued Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606) 2014 09”). August 2015, 2015 14 Revenue from Contracts with Customers (Topic 606): 2015 14”), 2014 09 one December 15, 2017. December 15, 2016. September 30, 2018 In August 2014, 2014 15, “Presentation of Financial Statements - Going Concern (Subtopic 205 40): 2014 15”). one 2014 15 December 15, 2016, 2014 15. In November 2015, 2015 17, Income Taxes (Topic 740): 2015 17”). 2015 17 December 15, 2016. may 2015 17. September 30, 2017 In February 2016, 2016 02, Leases (Topic 842) 2016 02”). 12 2016 02 December 15, 2018, September 28, 2019 In March 2016, 2016 09, Compensation – Stock Compensation (Topic 718): 2016 09”). 2016 09 December 15, 2016, September 30, 2017. 2016 09 In August 2016, 2016 15, Statement of Cash Flows (Topic 230) 2016 15”). December 15, 2017, September 30, 2018 In November 2016, 2016 18, Statement of Cash Flows (Topic 230) 2016 18”). December 15, 2017, September 30, 2018 Other recent accounting pronouncements issued by the FASB (including the Emerging Issues Task Force), the American Institute of Certified Public Accountants and the SEC did not, or management believes will not, have a material impact on our present or future consolidated financial statements. |
Note 2 - Asset Retirement Oblig
Note 2 - Asset Retirement Obligations | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Asset Retirement Obligation Disclosure [Text Block] | 2. We record a liability equal to the fair value of the estimated cost to retire an asset. The ARO liability is recorded in the period in which the obligation meets the definition of a liability, which is generally when the asset is placed in service and whereby we have contractual commitments to remove leasehold improvements and to return the leased facility back to a specified condition when the lease terminates. For a facility lease, this is typically at the inception of the lease. When the ARO liability is initially recorded, we increase the carrying amount of the related long - lived asset (leasehold improvements) by an amount equal to the calculated liability. The liability is subsequently accreted to its present value each period, and the capitalized cost is depreciated over the useful life of the related asset, which is the lease term. The ARO liability is recorded at fair value, and accretion expense (included in general and administrative expenses) is recognized over time as the discounted liability is accreted to its expected settlement value. The fair value of the ARO liability is measured using the expected future cash outflows related to the lease and calculated by using inflation rates in effect at the time of adoption and incorporating a market - risk premium, and discounted at our credit - adjusted risk - free interest rate at the time of adoption. Any difference between costs incurred upon settlement of an asset retirement obligation and the recorded liability will be recognized as a gain or loss in our earnings. Each ARO liability is based on a number of assumptions requiring judgment. We cannot predict the type of revisions to these assumptions that will be required in future periods due to the availability of additional information, technology changes, the price of labor costs and other factors. The following table presents the activity for our ARO liabilities, which primarily consist of classroom facilities at our Education Centers: Fiscal Year Ended September 30, 2016 October 2, 2015 ARO balance, beginning of period $ 1,669 $ 1,656 Accretion expense 76 79 Liabilities satisfied (128 ) 0 Settlement of ARO liability (77 ) 0 Foreign currency translation (171 ) (66 ) ARO balance, end of period $ 1,369 $ 1,669 During fiscal year 2016, |
Note 3 - Income Taxes
Note 3 - Income Taxes | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 3. We file a consolidated United States federal income tax return which includes all of our domestic operations. Our domestic subsidiaries also file income tax returns based on our operations in certain state and local jurisdictions. We file separate tax returns for each of our foreign subsidiaries in the countries in which they operate. Loss before provision for income taxes consists of the following: Fiscal Year Ended September 30, 2016 October 2, 2015 Domestic $ (11,565 ) $ (10,499 ) Foreign (709 ) 1,158 Total $ (12,274 ) $ (9,341 ) The provision for income taxes consists of the following: Fiscal Year Ended September 30, 2016 October 2, 2015 Current tax provision (benefit): U.S. Federal $ 0 $ 185 State 196 (64 ) Foreign 255 376 449 497 Deferred tax provision: U.S. Federal 14 (1 ) Foreign (43 ) (29 ) (29 ) (30 ) Provision for income taxes $ 422 $ 467 The following is a reconciliation of the provision for income taxes to the United States federal statutory tax rate: Fiscal Year Ended September 30, 2016 Effective Tax rate % October 2, 2015 Effective Tax rate % Income taxes at the U.S. statutory rate $ (4,296 ) 35.0 % $ (3,269 ) 35.0 % Equity compensation 42 (0.3 ) 22 (0.2 ) Penalties 0 0.0 0 0.0 Other permanent differences 342 (2.8 ) 448 (4.8 ) Effects of foreign taxes and tax credits 2,368 (19.3 ) (184 ) 2.0 State income taxes (439 ) 3.6 (363 ) 3.9 Uncertain tax positions 320 (2.6 ) 57 (0.6 ) Change in valuation allowance 1,911 (15.6 ) 3,737 (40.0 ) Other 174 (1.4 ) 19 (0.3 ) Total provision for income taxes $ 422 (3.4 ) % $ 467 (5.0 ) % Significant management judgment is required in determining our provision for income taxes and in determining whether any deferred tax assets will be realized in full or in part. When it is more likely than not that all or some portion of specific deferred tax assets such as net operating losses or foreign tax credit carry - forwards will not be realized, a valuation allowance must be established for the amount of the deferred tax assets that would not be realized. Realization will be based on our ability to generate sufficient future taxable income. In fiscal year 2012, 2015 2016. September 30, 2016, $338. As of September 30, 2016, $132, 2021 2023. Deferred income tax assets and liabilities consist of the following: Fiscal Year Ended September 30, 2016 October 2, 2015 Domestic operations: Deferred tax assets: Deferred facilities rent charges $ 2,721 $ 1,330 Deferred revenue 1,772 2,092 Foreign tax credit carryforwards 132 132 Alternative minimum tax credit carryforwards 189 189 Accrued vacation 360 443 Equity compensation 58 37 Depreciation and amortization 2,418 2,789 Net operating loss 6,873 3,912 Capital loss 78 79 Other 435 198 Deferred tax liabilities: Prepaid expenses (158 ) (505 ) Undistributed earnings of foreign subsidiaries (2,287 ) 0 Domestic net deferred tax assets 12,591 10,696 Foreign operations: Deferred tax assets: Depreciation and other 422 472 Deferred tax liabilities: Depreciation and other (73 ) (134 ) Foreign net deferred tax assets 349 338 Domestic and foreign deferred tax assets 12,940 11,034 Valuation allowances (12,602 ) (10,692 ) Net deferred tax assets $ 338 $ 342 We recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. For fiscal year 2016, $57 September 30, 2016 October 2, 2015, $762 $706 September 30, 2016, $1,047 12 2010 2016. The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, is as follows: Fiscal Year Ended September 30, 2016 October 2, 2015 Balance, beginning of year $ 472 $ 606 Decreases related to tax positions taken during a prior period 0 (134 ) Increases related to tax positions taken during the current period 241 0 Balance end of year $ 713 $ 472 Based on future forecasts and budgets, the Company expects to repatriate the unremitted earnings from the foreign subsidiaries to the United States which then become taxable to the Company in the foreseeable future. Therefore, in the fourth 2016, $2,271 $16 $6,490 September 30, 2016. 2016 $16 |
Note 4 - Commitments and Contin
Note 4 - Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 4. a. Operating Lease Commitments As of September 30, 2016, 2026 Fiscal Year Ending Minimum Lease Payments Less Sublease Proceeds Net Lease Commitments 2017 $ 7,440 $ 185 $ 7,255 2018 5,916 328 5,588 2019 5,764 341 5,423 2020 5,419 203 5,216 2021 4,175 0 4,175 Thereafter 9,033 0 9,033 $ 37,747 $ 1,057 $ 36,690 Rental expense, excluding sublease income, was $9,231 $9,114 2016 2015, 2016 2015 $83 $120, b. Capital Lease Commitments During fiscal year 2016, two September 30, 2016 Fiscal Year Ending Minimun Lease Payments 2017 $ 124 2018 116 2019 116 2020 116 2021 103 Total minimum payments $ 575 Less amount representing interest (imputed weighted average capital lease annual interest rate of 9.1% for Equipment Lease and 7.67% for Software Lease) (108 ) Net minimum payments 467 Less Current Portion (81 ) $ 386 Capital lease liability is included in the "Deferred facilities rent and other" line of our consolidated balance sheet. c. Contingencies Currently, and from time to time, we are involved in litigation incidental to the conduct of our business. We are not a party to any lawsuit or proceeding that, in the opinion of management, is likely to have a material adverse effect on our consolidated financial position or results of operations. |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 5. We did not 2016 2015. may |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6. Effective January 23, 2007, 2007 “2007 2007 2007 1,000,000 one fourth four ten 2007 The fair value of each option award was estimated on the date of grant using the Black - Scholes option - pricing model. Expected volatilities were based on the historical volatility of our stock measured over a period commensurate with the expected life of granted stock options. The expected term of options represented the period of time that options granted were expected to be outstanding and was determined based on the simplified method as discussed in ASC 718, Compensation - Stock Compensation 0%. A summary of option activity under the 2007 2015 2016 Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at October 3, 2014 200,000 $ 3.85 8.0 $ 0.00 Options granted 50,000 1.76 9.6 0.00 Options exercised 0 0.00 Options forfeited, expired and unearned 0 0.00 Outstanding at October 2, 2015 250,000 3.43 8.3 0.00 Options granted 600,000 1.24 9.6 0.00 Options exercised 0 0.00 Options forfeited, expired and unearned 0 0.00 Outstanding at September 30, 2016 850,000 1.88 8.5 0.00 Vested and expected to vest at September 30, 2016 836,958 1.89 8.5 0.00 Exercisable at September 30, 2016 112,500 $ 3.61 7.2 $ 0.00 Share - based compensation expense related to employee stock options is included in cost of revenues and operating expenses consistent with the respective employee salary costs. These costs totaled $164 $76 2016 2015, If the non - vested stock options fully vest, they will result in future expense of $352 2.6 $0 2016 2015. Restricted Stock Units As noted above, our 2007 2016 2015, 2016 2015. |
Note 7 - Employee Benefit Plans
Note 7 - Employee Benefit Plans | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 7. EMPLOYEE BENEFIT PLANS We have adopted a defined contribution plan for the benefit of our domestic employees who have met the eligibility requirements. The Learning Tree International 401(k) “401(k) 401(k) Qualified employees may 401(k) 30% first 6% $241 $40, $21 $229, 401(k) 2016 2015, We have adopted or participate in country - sponsored defined contribution plans for the benefit of our employees of all of our foreign subsidiaries. Contributions to these plans are subject to tenure 2016 2015 $376 $470, |
Note 8 - Loss Per Share
Note 8 - Loss Per Share | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 8. Loss per share—basic is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Loss per share—diluted includes the dilutive effect, if any, of nonvested restricted stock grants, nonvested restricted stock units and of outstanding options to purchase common stock, using the treasury stock method. For fiscal years 2016 2015, 850,000 250,000 The following table sets forth the calculation of basic and diluted loss per share: Fiscal Year Ended September 30, October 2, 2016 2015 Numerator: Loss from continuing operations $ (12,696 ) $ (9,808 ) (Loss) income from discontinued operations 0 (2,765 ) Net (loss) income $ (12,696 ) $ (12,573 ) Denominator: Weighted average shares outstanding Basic $ 13,224 $ 13,224 Effect of dilutive securities 0 0 Diluted $ 13,224 $ 13,224 (Loss) income per common share - basic and diluted: Continuing operations $ (0.96 ) $ (0.74 ) Discontinued operations 0 (0.21 ) Basic and diluted loss per common share $ (0.96 ) $ (0.95 ) |
Note 9 - Operating Segment Repo
Note 9 - Operating Segment Reporting | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 9. Our worldwide operations involve the design and delivery of instructor - led classroom training courses and related services to business and government organizations. The training and education we offer is presented by our instructors in a virtually identical manner in every country in which we operate, regardless of whether presented in leased classroom space or external facilities, of the content of the class being taught, the language of the presentation or the printed course materials or of the location or method of distribution. We did not have sales to any one 10% 2016 2015. We conduct and manage our business globally, and our management makes financial decisions and allocates resources based on the information we receive from our internal management systems. Our reportable segments are: the United States, Canada, the United Kingdom, Sweden and Japan, which are reflected under continuing operations below. We also set forth a former reportable segment of the Company in France, which is reflected under discontinued operations below and discussed in more detail in Note 12 $5,101 $4,049 2016 2015, 2016 2015, Fiscal Year Ended September 30, 2016 October 2, 2015 Revenues: United States $ 51,377 $ 57,787 Canada 7,961 8,752 North America 59,338 66,539 United Kingdom 16,878 22,151 Sweden 3,069 4,232 Japan 2,302 1,962 Continuing Operations 81,587 94,884 France 0 3,336 Discontinued Operations 0 3,336 Total $ 81,587 $ 98,220 Gross profit: United States $ 19,618 $ 22,396 Canada 3,119 4,401 North America 22,737 26,797 United Kingdom 5,414 8,422 Sweden 1,625 2,542 Japan 1,648 1,314 Continuing Operations 31,424 39,075 France 0 1,289 Discontinued Operations 0 1,289 Total $ 31,424 $ 40,364 Depreciation and amortization: United States $ 1,915 $ 2,818 Canada 236 330 North America 2,151 3,148 United Kingdom 620 1,020 Sweden 56 134 Japan 3 16 Continuing Operations 2,830 4,318 France 0 191 Discontinued Operations 0 191 Total $ 2,830 $ 4,509 Fiscal Year Ended September 30, 2016 October 2, 2015 Total assets: United States $ 15,578 $ 23,683 Canada 3,395 3,729 North America 18,973 27,412 United Kingdom 8,046 11,789 Sweden 2,688 3,215 Japan 1,900 1,505 Continuing Operations 31,621 43,921 France 0 0 Discontinued Operations 0 0 Total $ 31,607 $ 43,921 Long-lived assets: United States $ 4,211 $ 3,266 Canada 480 707 North America 4,691 3,973 United Kingdom 1,725 2,532 Sweden 119 179 Japan 76 67 Continuing Operations 6,611 6,751 France 0 0 Discontinued Operations 0 0 Total $ 6,611 $ 6,751 Capital expenditures: United States $ 264 $ 1,042 Canada 11 669 North America 275 1,711 United Kingdom 200 360 Sweden 0 179 Japan 0 5 Continuing Operations 475 2,255 France 0 5 Discontinued Operations 0 5 Total $ 475 $ 2,260 |
Note 10 - Deferred Facilities R
Note 10 - Deferred Facilities Rent and Other | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Deferred Facilities Rent and Other [Text Block] | 10. The following tables show details of the following line items in our consolidated balance sheets. Current Portion of Deferred Facilities Rent and Other Fiscal Year Ended September 30, October 2, 2016 2015 Deferred rent $ 529 $ 1,073 Capital lease 81 0 Reston lease liability 1,057 0 LA lease liability 0 328 $ 1,667 $ 1,401 Noncurrent Portion of Deferred Facilities Rent and Other Fiscal Year Ended September 30, October 2, 2016 2015 Deferred rent $ 3,808 $ 2,575 Capital Lease 386 0 Reston lease liability 2,103 0 $ 6,297 $ 2,575 |
Note 11- Valuation and Qualifyi
Note 11- Valuation and Qualifying Accounts | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Valuation and Qualifying Accounts [Text Block] | 11. Activity with respect to our provision for doubtful accounts is summarized as follows: Fiscal Year Ended September 30, October 2, 2016 2015 Beginning balance $ 160 $ 158 Provision for doubtful accounts 391 63 Charges against allowance (10 ) (64 ) Other 1 3 Ending balance $ 542 $ 160 Activity with respect to our valuation allowance for deferred tax assets is summarized as follows: Fiscal Year Ended September 30, October 2, 2016 2015 Beginning balance $ 10,692 $ 6,974 Provisions 1,910 3,718 Charges against allowance 0 0 Ending balance $ 12,602 $ 10,692 Activity with respect to our lease liabilities is summarized as follows: Fiscal Year Ended September 30, October 2, 2016 2015 Beginning balance $ 328 $ 959 Provisions 1,940 30 Accretion 23 Reston Town Center Deferred Rent 1,220 0 Charges against allowance (351 ) (661 ) Ending balance $ 3,160 $ 328 |
Note 12 - Discontinued Operatio
Note 12 - Discontinued Operations | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 12—DISCONTINUED On March 3, 2015, 1 March 3, 2015 two The sale of LTRE (FR) resulted in a loss of $2,501. October 2, 2015 September 30, 2016 October 2, 2015, The summarized operating results of LTRE (FR) included in our consolidated statement of operations is as follows: Fiscal Year Ended September 30, 2016 October 2, 2015 Revenues $ 0 $ 3,335 Cost of revenues 0 2,046 Gross profit 0 1,289 Operating expenses 0 1,626 (Loss) income from operations 0 (337 ) Other (expense) income, net 0 (44 ) Loss from discontinued operations before income taxes 0 (381 ) Income taxes 0 (117 ) $ 0 $ (264 ) Calculation of the loss on disposal of LTRE(FR): October 2, 2015 (in thousands) Investment in Learning Tree International S.A. $ 1,324 Costs of sale 619 Cumulative translation adjustment realized 558 Loss on sale $ 2,501 |
Note 13 - Restructuring Activit
Note 13 - Restructuring Activity | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | 13. In September 2016, 81% $1.9 September 30, 2016 24% Facilities Balance at October 2, 2015 $ 328 Additions: RTC cease-use charge 1,940 RTC Deferred rent liability 1,220 Accretion expense 23 3,183 Reductions: Rent payments, net of deferred rent (351 ) (351 ) Balance at September 30, 2016 $ 3,160 As of September 30, 2016, |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 12 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 14. On January 12, 2017, the Company entered into a Financing and Security Agreement (the “Financing Agreement”) with Action Capital Corporation (“Action Capital”) that provides the Company with access to borrow through advances of funds of up to a maximum aggregate principal amount of $3.0 85% Under the Financing Agreement, the Company is required to pay Action Capital (i) interest on the outstanding advances at a rate equal to the prime rate of Wells Fargo Bank, N.A. in effect on the last business day of the prior month plus 1.75%, 0.70% 0.25% 90 We have determined that there are no other subsequent events that require disclosure. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | a. Nature of the Business Learning Tree International, Inc. and subsidiaries (“the Company,” “we,” “us,” or “our”) develop, market, and deliver a broad, predominately proprietary, library of instructor - led classroom courses that are designed to meet the professional development needs of information technology (“IT”) professionals and managers worldwide. These courses are delivered primarily at our leased education centers located in the United States, the United Kingdom, Canada, Sweden and Japan. Such course events are also conducted from specially equipped facilities, in hotel and conference facilities, and at customer sites throughout the world. Almost all of our course titles are also available to individuals located worldwide through Learning Tree AnyWare™, our patent - pending live online learning interface that allows individuals at any location to attend a live instructor - led Learning Tree class via the Internet. Our courses provide both breadth and depth of education across a wide range of technical and management disciplines, including operating systems, databases, computer networks, computer and network security, web development, programming languages, software engineering, open source applications, project management, business skills, and leadership and professional development. We follow a 52 53 September. 2016 September 30, 2016, 2015 October 2, 2015. September 30, 2016, October 2, 2015, September 30, 2016 October 2, 2015. 2016 2015 52 Certain items in the fiscal year 2015 |
Basis of Accounting, Policy [Policy Text Block] | b. Basis of Presentation As of and for the fiscal year ended September 30, 2016, $15.3 2016 four September 30, 2016, $8.5 2017, To address the decline in revenue, we have been executing upon new strategies to increase the number of attendees in our public courses and expand our overall customer base. A number of these strategies relate to pricing promotions to attract new customers or to re - engage old customers that have not used our services in many years. We are also partnering with certification organizations, hardware and software vendors, as well some other training providers to augment the breadth of training courses we can offer to organizations. Another strategy is to grow our position as a leading worldwide provider of training and workforce development to IT professionals and managers through the continued growth of our Workforce Optimization Solutions. Workforce Optimization Solutions augments and enhances our core training capabilities enabling Learning Tree to partner with our customers in helping them develop a high - performing organization through workforce development and process improvement. We have accelerated our Comprehensive Cost Reduction Program with the goal of significantly reducing our fiscal year 2017 $10.0 $12.0 2016. $6.8 2016 2015. 2017 • Eliminated our direct mail course catalog advertising program. In addition to being a “green initiative”, we believe that our overall customer - base has shifted the manner in which it selects and purchases courses away from printed catalogs toward greater use of digital channels, such as website, social media and digital advertising. • Made our course notes available electronically and only produce a paper copy if requested by our attendee. • Completed, during the fourth 2016, 26 • Reduced the compensation paid to our Board of Directors in 2016, August 1, 2016, • Reduced our real estate costs, through the elimination or nonrenewal of certain leased facilities and negotiation for replacement facilities. As other facility leases expire, additional cost reductions will be evaluated. As part of this program, Learning Tree will continue to review and take appropriate actions to streamline its operations in order to reduce or eliminate excess costs. To further address our liquidity needs in the near term, on January 12, 2017, $3.0 85% may, may 14 We are also continuing to evaluate additional sources of capital and financing. We have retained the services of a financial advisor to assist us in assessing strategic options available to the Company to improve liquidity. However, there is no assurance that additional capital and/or financing will be available to the Company, and even if available, whether it will be on terms acceptable to us or in amounts required. The stabilization of revenues and reduction in costs are integral to our goal of achieving a break even operating income line and a positive cash flow from operations for fiscal year 2017. |
Consolidation, Policy [Policy Text Block] | c. Principles of Consolidation The accompanying consolidated financial statements include the accounts of Learning Tree International, Inc. and our subsidiaries. All significant intercompany accounts and transactions have been eliminated. The following is a list of our subsidiaries as of September 30, 2016: Learning Tree International USA, Inc. (U.S.) Learning Tree International, K.K. (Japan) Learning Tree International Ltd. (United Kingdom) Learning Tree International AB (Sweden) Learning Tree International Inc. (Canada) Advanced Technology Marketing, Inc. (U.S.) AnyWare Live, Inc. (U.S.) |
Revenue Recognition, Policy [Policy Text Block] | d. Revenue Recognition and Accounts Receivable Our revenues are received from business entities and government agencies for the professional training of their employees. Course events range in length from one five three 52 53 five 52 53 We offer our customers a multiple - course sales discount referred to as a “Learning Tree Training Passport” or “Training Passport”. A Learning Tree Training Passport allows an individual Passport holder to attend up to a specified number of Learning Tree courses over a one two We believe it is appropriate to recognize revenues on this basis in order to most closely match revenue and related costs, as the substantial majority of our Passport holders do not attend the maximum number of course events permitted under their Learning Tree Training Passport. We believe that the use of recent historical data is reasonable and appropriate because of the relative stability of the average actual number of course events attended by Passport holders. The average attendance rate for all expired Learning Tree Training Passports has closely approximated the estimated rate we utilize. Although we have seen no material changes in the historical rates as the number of course titles has changed, we monitor such potential effects. In general, determining the estimated average number of course events that will be attended by a Passport holder is based on historical trends that may may one two For Training Passport products for which historical utilization data is not available, we assume that the estimated average number of courses to be attended is equal to the number of courses available on the Training Passport. Assumed utilization rates may In addition to our Learning Tree Training Passports, we also offer a multiple - course sales discount referred to as “Learning Tree Training Vouchers” or Training Vouchers”. With Learning Tree Training Vouchers, a customer buys the right to send a specified number of attendees to Learning Tree courses over a six twelve twelve Trade accounts receivable are reduced by an allowance for amounts that may |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | e. Share - Based Compensation We estimate the fair value of share - based option awards on the date of grant using an option - pricing model. We estimate the fair value of share - based restricted stock units and restricted stock grants using the closing price of our stock on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in our consolidated statements of operations and comprehensive loss. Our determination of fair value of share - based payment awards on the date of grant using an option - pricing model is affected by assumptions regarding a number of variables, including our expected stock price volatility, expected term, dividend yield and risk - free interest rates. We analyzed our historical volatility to estimate the expected volatility. The risk - free interest rate assumption is based on the U.S. Treasury rate at the date of grant, that most closely resembles the expected life of our options. The estimated expected life represents the weighted - average period the stock options are expected to remain outstanding and has been determined based on the simplified method under ASC 718, Compensation - Stock Compensation As share - based compensation expense recognized in the consolidated statements of operations and comprehensive loss is based on awards ultimately expected to vest, it has been reduced for estimated pre - vesting forfeitures. Forfeitures were estimated based on historical experience. |
In Process Research and Development, Policy [Policy Text Block] | f. Course Development Costs Course development costs are charged to operations in the period incurred. |
Advertising Costs, Policy [Policy Text Block] | g. Advertising Advertising costs are charged to expense in the period incurred. Advertising costs totaled $383 $612 2016 2015, |
Cash and Cash Equivalents, Policy [Policy Text Block] | h. Cash and Cash Equivalents and Interest - bearing Investments We consider highly liquid investments with remaining maturities of ninety Restricted interest - bearing investments at September 30, 2016 $1,867 (1,439 $179 (1,534 $897 $2,185 (1,439 $184 (1,534 $896 October 2, 2015. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | i. Marketing Expenses Marketing expenses primarily include the external costs associated with the design, printing, postage, list rental and handling of direct mail advertising materials to be mailed in the future. These costs are charged to expense in the month in which the advertising materials are mailed since the benefit period for such costs is short and the amount of future benefit is not practically measurable. Marketing expenses for fiscal years 2016 2015 $5,857 $8,942 |
Property, Plant and Equipment, Preproduction Design and Development Costs [Policy Text Block] | j. Equipment, Property and Leasehold Improvements Equipment, property and leasehold improvements are recorded at cost and depreciated or amortized using the straight - line method over the following estimated useful lives: Education and office equipment (years) 3 to 5 Transportation equipment (years) 4 Accounting software (years) 7 Leasehold improvements 20 years or the life of the lease, if shorter Depreciation and amortization expense totaled $2,830 $4,318 2016 2015, During fiscal year 2016, $1.8 $0.3 tenant The fair value of a liability for an asset retirement obligation (“ARO”) associated with a leased facility is recorded as an asset (leasehold improvements) and a liability when there is a legal obligation associated with the retirement of a long - lived asset and the amount can be reasonably estimated. See also Note 2 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | k. Long - Lived Assets We periodically review the carrying value of our long - lived assets, such as equipment, property and leasehold improvements for impairment or whenever events or changes in circumstances indicate that the carrying value may |
Revenue Recognition, Deferred Revenue [Policy Text Block] | l. Deferred Revenues Deferred revenues primarily relate to unearned revenues associated with Training Passports, Training Vouchers and advance payments received from customers for course events to be held in the future. |
Comprehensive Income, Policy [Policy Text Block] | m. Comprehensive loss We report comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. Other comprehensive loss represents changes in stockholders’ equity from non - owner sources and is comprised of foreign currency translation adjustments. At the end of fiscal year 2016, $(882) $(578) 2015. |
Income Tax, Policy [Policy Text Block] | n. Income Taxes We provide for income taxes under the provisions of Financial Accounting Standards Board ASC 740, Income Taxes may The tax effects of uncertain tax positions are recognized in the consolidated financial statements only if the position is more likely than not to be sustained on audit, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50% 740 10 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | o. Foreign Currency We translate the financial statements of our foreign subsidiaries from the local (functional) currencies to U.S. dollars. The rates of exchange at each fiscal year end are used for translating the assets and liabilities and the average monthly rates of exchange for each year are used for the consolidated statements of operations and comprehensive loss. Gains or losses arising from the translation of the foreign subsidiaries’ financial statements are included in the accompanying consolidated balance sheets as a separate component of stockholders’ equity. Gains or losses resulting from foreign currency transactions are included in the consolidated statements of operations and comprehensive loss. To date, we have not sought to hedge the risk associated with fluctuations in currency exchange rates, and therefore we continue to be subject to such risk. |
Deferred Charges, Policy [Policy Text Block] | p. Deferred Facilities Rent Operating Lease Activities: We lease education center and administrative office space under various operating lease agreements. Certain lease agreements include provisions that provide for cash incentives, graduated rent payments and other inducements. We recognize rent expense on a straight - line basis over the related terms of such leases. The value of lease incentives and/or inducements, along with the excess of the rent expense recognized over the rentals paid, is recorded as deferred facilities rent in the accompanying consolidated balance sheets. Lease Termination Activities: We record liabilities for costs that will be incurred under a contract without economic benefit at estimated fair value. We have vacated space in leased facilities subject to operating leases and recorded the estimated liability associated with future rentals at the cease - use date. The fair value of the liability at the cease - use date was determined based on the remaining cash flows for lease rentals, and minimum lease payments, reduced by estimated sublease rentals and certain subtenant reimbursements that could be reasonably obtained for the property, discounted using a credit - adjusted risk - free rate. The liability is adjusted for changes, if any, resulting from revisions to estimated cash flows after the cease - use date, measured using the original historical credit - adjusted risk - free rate. Changes due to the passage of time are recognized as an increase in the carrying amount of the liability and as accretion expense. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | q. Fair Value of Financial Instruments The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate their fair values because of the short - term nature of these instruments. |
Use of Estimates, Policy [Policy Text Block] | r. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make judgments, estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. |
New Accounting Pronouncements, Policy [Policy Text Block] | s. Recently Issued Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606) 2014 09”). August 2015, 2015 14 Revenue from Contracts with Customers (Topic 606): 2015 14”), 2014 09 one December 15, 2017. December 15, 2016. September 30, 2018 In August 2014, 2014 15, “Presentation of Financial Statements - Going Concern (Subtopic 205 40): 2014 15”). one 2014 15 December 15, 2016, 2014 15. In November 2015, 2015 17, Income Taxes (Topic 740): 2015 17”). 2015 17 December 15, 2016. may 2015 17. September 30, 2017 In February 2016, 2016 02, Leases (Topic 842) 2016 02”). 12 2016 02 December 15, 2018, September 28, 2019 In March 2016, 2016 09, Compensation – Stock Compensation (Topic 718): 2016 09”). 2016 09 December 15, 2016, September 30, 2017. 2016 09 In August 2016, 2016 15, Statement of Cash Flows (Topic 230) 2016 15”). December 15, 2017, September 30, 2018 In November 2016, 2016 18, Statement of Cash Flows (Topic 230) 2016 18”). December 15, 2017, September 30, 2018 Other recent accounting pronouncements issued by the FASB (including the Emerging Issues Task Force), the American Institute of Certified Public Accountants and the SEC did not, or management believes will not, have a material impact on our present or future consolidated financial statements. |
Note 1 - Nature of the Busine22
Note 1 - Nature of the Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Education and office equipment (years) 3 to 5 Transportation equipment (years) 4 Accounting software (years) 7 Leasehold improvements 20 years or the life of the lease, if shorter |
Note 2 - Asset Retirement Obl23
Note 2 - Asset Retirement Obligations (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Fiscal Year Ended September 30, 2016 October 2, 2015 ARO balance, beginning of period $ 1,669 $ 1,656 Accretion expense 76 79 Liabilities satisfied (128 ) 0 Settlement of ARO liability (77 ) 0 Foreign currency translation (171 ) (66 ) ARO balance, end of period $ 1,369 $ 1,669 |
Note 3 - Income Taxes (Tables)
Note 3 - Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Fiscal Year Ended September 30, 2016 October 2, 2015 Domestic $ (11,565 ) $ (10,499 ) Foreign (709 ) 1,158 Total $ (12,274 ) $ (9,341 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Fiscal Year Ended September 30, 2016 October 2, 2015 Current tax provision (benefit): U.S. Federal $ 0 $ 185 State 196 (64 ) Foreign 255 376 449 497 Deferred tax provision: U.S. Federal 14 (1 ) Foreign (43 ) (29 ) (29 ) (30 ) Provision for income taxes $ 422 $ 467 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Fiscal Year Ended September 30, 2016 Effective Tax rate % October 2, 2015 Effective Tax rate % Income taxes at the U.S. statutory rate $ (4,296 ) 35.0 % $ (3,269 ) 35.0 % Equity compensation 42 (0.3 ) 22 (0.2 ) Penalties 0 0.0 0 0.0 Other permanent differences 342 (2.8 ) 448 (4.8 ) Effects of foreign taxes and tax credits 2,368 (19.3 ) (184 ) 2.0 State income taxes (439 ) 3.6 (363 ) 3.9 Uncertain tax positions 320 (2.6 ) 57 (0.6 ) Change in valuation allowance 1,911 (15.6 ) 3,737 (40.0 ) Other 174 (1.4 ) 19 (0.3 ) Total provision for income taxes $ 422 (3.4 ) % $ 467 (5.0 ) % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Fiscal Year Ended September 30, 2016 October 2, 2015 Domestic operations: Deferred tax assets: Deferred facilities rent charges $ 2,721 $ 1,330 Deferred revenue 1,772 2,092 Foreign tax credit carryforwards 132 132 Alternative minimum tax credit carryforwards 189 189 Accrued vacation 360 443 Equity compensation 58 37 Depreciation and amortization 2,418 2,789 Net operating loss 6,873 3,912 Capital loss 78 79 Other 435 198 Deferred tax liabilities: Prepaid expenses (158 ) (505 ) Undistributed earnings of foreign subsidiaries (2,287 ) 0 Domestic net deferred tax assets 12,591 10,696 Foreign operations: Deferred tax assets: Depreciation and other 422 472 Deferred tax liabilities: Depreciation and other (73 ) (134 ) Foreign net deferred tax assets 349 338 Domestic and foreign deferred tax assets 12,940 11,034 Valuation allowances (12,602 ) (10,692 ) Net deferred tax assets $ 338 $ 342 |
Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward [Table Text Block] | Fiscal Year Ended September 30, 2016 October 2, 2015 Balance, beginning of year $ 472 $ 606 Decreases related to tax positions taken during a prior period 0 (134 ) Increases related to tax positions taken during the current period 241 0 Balance end of year $ 713 $ 472 |
Note 4 - Commitments and Cont25
Note 4 - Commitments and Contingencies (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Fiscal Year Ending Minimum Lease Payments Less Sublease Proceeds Net Lease Commitments 2017 $ 7,440 $ 185 $ 7,255 2018 5,916 328 5,588 2019 5,764 341 5,423 2020 5,419 203 5,216 2021 4,175 0 4,175 Thereafter 9,033 0 9,033 $ 37,747 $ 1,057 $ 36,690 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Fiscal Year Ending Minimun Lease Payments 2017 $ 124 2018 116 2019 116 2020 116 2021 103 Total minimum payments $ 575 Less amount representing interest (imputed weighted average capital lease annual interest rate of 9.1% for Equipment Lease and 7.67% for Software Lease) (108 ) Net minimum payments 467 Less Current Portion (81 ) $ 386 |
Note 6 - Stock-based Compensa26
Note 6 - Stock-based Compensation (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at October 3, 2014 200,000 $ 3.85 8.0 $ 0.00 Options granted 50,000 1.76 9.6 0.00 Options exercised 0 0.00 Options forfeited, expired and unearned 0 0.00 Outstanding at October 2, 2015 250,000 3.43 8.3 0.00 Options granted 600,000 1.24 9.6 0.00 Options exercised 0 0.00 Options forfeited, expired and unearned 0 0.00 Outstanding at September 30, 2016 850,000 1.88 8.5 0.00 Vested and expected to vest at September 30, 2016 836,958 1.89 8.5 0.00 Exercisable at September 30, 2016 112,500 $ 3.61 7.2 $ 0.00 |
Note 8 - Loss Per Share (Tables
Note 8 - Loss Per Share (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Fiscal Year Ended September 30, October 2, 2016 2015 Numerator: Loss from continuing operations $ (12,696 ) $ (9,808 ) (Loss) income from discontinued operations 0 (2,765 ) Net (loss) income $ (12,696 ) $ (12,573 ) Denominator: Weighted average shares outstanding Basic $ 13,224 $ 13,224 Effect of dilutive securities 0 0 Diluted $ 13,224 $ 13,224 (Loss) income per common share - basic and diluted: Continuing operations $ (0.96 ) $ (0.74 ) Discontinued operations 0 (0.21 ) Basic and diluted loss per common share $ (0.96 ) $ (0.95 ) |
Note 9 - Operating Segment Re28
Note 9 - Operating Segment Reporting (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Fiscal Year Ended September 30, 2016 October 2, 2015 Revenues: United States $ 51,377 $ 57,787 Canada 7,961 8,752 North America 59,338 66,539 United Kingdom 16,878 22,151 Sweden 3,069 4,232 Japan 2,302 1,962 Continuing Operations 81,587 94,884 France 0 3,336 Discontinued Operations 0 3,336 Total $ 81,587 $ 98,220 Gross profit: United States $ 19,618 $ 22,396 Canada 3,119 4,401 North America 22,737 26,797 United Kingdom 5,414 8,422 Sweden 1,625 2,542 Japan 1,648 1,314 Continuing Operations 31,424 39,075 France 0 1,289 Discontinued Operations 0 1,289 Total $ 31,424 $ 40,364 Depreciation and amortization: United States $ 1,915 $ 2,818 Canada 236 330 North America 2,151 3,148 United Kingdom 620 1,020 Sweden 56 134 Japan 3 16 Continuing Operations 2,830 4,318 France 0 191 Discontinued Operations 0 191 Total $ 2,830 $ 4,509 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | Fiscal Year Ended September 30, 2016 October 2, 2015 Total assets: United States $ 15,578 $ 23,683 Canada 3,395 3,729 North America 18,973 27,412 United Kingdom 8,046 11,789 Sweden 2,688 3,215 Japan 1,900 1,505 Continuing Operations 31,621 43,921 France 0 0 Discontinued Operations 0 0 Total $ 31,607 $ 43,921 Long-lived assets: United States $ 4,211 $ 3,266 Canada 480 707 North America 4,691 3,973 United Kingdom 1,725 2,532 Sweden 119 179 Japan 76 67 Continuing Operations 6,611 6,751 France 0 0 Discontinued Operations 0 0 Total $ 6,611 $ 6,751 Capital expenditures: United States $ 264 $ 1,042 Canada 11 669 North America 275 1,711 United Kingdom 200 360 Sweden 0 179 Japan 0 5 Continuing Operations 475 2,255 France 0 5 Discontinued Operations 0 5 Total $ 475 $ 2,260 |
Note 10 - Deferred Facilities29
Note 10 - Deferred Facilities Rent and Other (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Schedule of Current Portion of Deferred Facilities Rent and Other [Table Text Block] | Fiscal Year Ended September 30, October 2, 2016 2015 Deferred rent $ 529 $ 1,073 Capital lease 81 0 Reston lease liability 1,057 0 LA lease liability 0 328 $ 1,667 $ 1,401 |
Schedule of Long Term Portion of Deferred Facilities Rent and Other [Table Text Block] | Fiscal Year Ended September 30, October 2, 2016 2015 Deferred rent $ 3,808 $ 2,575 Capital Lease 386 0 Reston lease liability 2,103 0 $ 6,297 $ 2,575 |
Note 11- Valuation and Qualif30
Note 11- Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Valuation and Qualifying Accounts [Table Text Block] | Fiscal Year Ended September 30, October 2, 2016 2015 Beginning balance $ 160 $ 158 Provision for doubtful accounts 391 63 Charges against allowance (10 ) (64 ) Other 1 3 Ending balance $ 542 $ 160 |
Summary of Valuation Allowance [Table Text Block] | Fiscal Year Ended September 30, October 2, 2016 2015 Beginning balance $ 10,692 $ 6,974 Provisions 1,910 3,718 Charges against allowance 0 0 Ending balance $ 12,602 $ 10,692 |
Summary of Lease Liability [Table Text Block] | Fiscal Year Ended September 30, October 2, 2016 2015 Beginning balance $ 328 $ 959 Provisions 1,940 30 Accretion 23 Reston Town Center Deferred Rent 1,220 0 Charges against allowance (351 ) (661 ) Ending balance $ 3,160 $ 328 |
Note 12 - Discontinued Operat31
Note 12 - Discontinued Operations (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Table Text Block] | Fiscal Year Ended September 30, 2016 October 2, 2015 Revenues $ 0 $ 3,335 Cost of revenues 0 2,046 Gross profit 0 1,289 Operating expenses 0 1,626 (Loss) income from operations 0 (337 ) Other (expense) income, net 0 (44 ) Loss from discontinued operations before income taxes 0 (381 ) Income taxes 0 (117 ) $ 0 $ (264 ) |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Calculation of the loss on disposal of LTRE(FR): October 2, 2015 (in thousands) Investment in Learning Tree International S.A. $ 1,324 Costs of sale 619 Cumulative translation adjustment realized 558 Loss on sale $ 2,501 |
Note 13 - Restructuring Activ32
Note 13 - Restructuring Activity (Tables) | 12 Months Ended |
Sep. 30, 2016 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Facilities Balance at October 2, 2015 $ 328 Additions: RTC cease-use charge 1,940 RTC Deferred rent liability 1,220 Accretion expense 23 3,183 Reductions: Rent payments, net of deferred rent (351 ) (351 ) Balance at September 30, 2016 $ 3,160 |
Note 1 - Nature of the Busine33
Note 1 - Nature of the Business and Summary of Significant Accounting Policies (Details Textual) £ in Thousands, SEK in Thousands, $ in Thousands | 12 Months Ended | ||||||||||
Sep. 29, 2017USD ($) | Sep. 30, 2016USD ($) | Oct. 02, 2015USD ($) | Jan. 12, 2017USD ($) | Sep. 30, 2016SEK | Sep. 30, 2016USD ($) | Sep. 30, 2016GBP (£) | Oct. 02, 2015SEK | Oct. 02, 2015USD ($) | Oct. 02, 2015GBP (£) | Oct. 03, 2014USD ($) | |
Retained Earnings (Accumulated Deficit) | $ (15,296) | $ (2,600) | |||||||||
Cash and Cash Equivalents, at Carrying Value | 8,540 | 17,936 | $ 29,881 | ||||||||
Operating Costs Reduction, Excluding Restructuring Charges | $ 6,800 | ||||||||||
Advertising Expense | 383 | $ 612 | |||||||||
Marketing Expense | 5,857 | 8,942 | |||||||||
Depreciation, Depletion and Amortization | 2,830 | 4,318 | |||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | $ (882) | $ (578) | |||||||||
Leasehold Improvements [Member] | |||||||||||
Property Plant and Equipment, Funded by Landlord | 1,800 | ||||||||||
Office Equipment [Member] | |||||||||||
Property Plant and Equipment, Funded by Landlord | 300 | ||||||||||
Interest-bearing Deposits [Member] | UNITED KINGDOM | |||||||||||
Restricted Cash and Cash Equivalents Pledged as Collateral | 1,867 | £ 1,439 | 2,185 | £ 1,439 | |||||||
Interest-bearing Deposits [Member] | SWEDEN | |||||||||||
Restricted Cash and Cash Equivalents Pledged as Collateral | SEK 1,534 | 179 | SEK 1,534 | 184 | |||||||
Interest-bearing Deposits [Member] | UNITED STATES | |||||||||||
Restricted Cash and Cash Equivalents Pledged as Collateral | $ 897 | $ 896 | |||||||||
Subsequent Event [Member] | Action Capital [Member] | Line of Credit [Member] | Financing Agreement [Member] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,000 | ||||||||||
Percentage of Net Amount of Certain Customer Accounts Receivable | 85.00% | ||||||||||
Scenario, Forecast [Member] | Minimum [Member] | |||||||||||
Expected Reduction in Overall Expenses | $ 10,000 | ||||||||||
Scenario, Forecast [Member] | Maximum [Member] | |||||||||||
Expected Reduction in Overall Expenses | $ 12,000 |
Note 1 - Nature of the Busine34
Note 1 - Nature of the Business and Summary of Significant Accounting Policies - Equipment Property and Leasehold Improvements Estimated Useful Life (Details) | 12 Months Ended |
Sep. 30, 2016 | |
Education and Office Equipment [Member] | Minimum [Member] | |
Education and office equipment (Year) | 3 years |
Education and Office Equipment [Member] | Maximum [Member] | |
Education and office equipment (Year) | 5 years |
Transportation Equipment [Member] | |
Education and office equipment (Year) | 4 years |
Accounting Software [Member] | |
Education and office equipment (Year) | 7 years |
Leasehold Improvements [Member] | |
Leasehold improvements | 20 years or the lifeof the lease, if shorter |
Note 2 - Asset Retirement Obl35
Note 2 - Asset Retirement Obligations - Liabilities Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
ARO balance, beginning of period | $ 1,669 | $ 1,656 |
Accretion on asset retirement obligations | 76 | 79 |
Liabilities satisfied | (128) | 0 |
Settlement of ARO liability | (77) | 0 |
Foreign currency translation | (171) | (66) |
ARO balance, end of period | $ 1,369 | $ 1,669 |
Note 3 - Income Taxes (Details
Note 3 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Deferred Tax Assets, Net | $ 338 | $ 342 |
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 132 | |
Recognized Expense Attributable to Interest for Uncertain Tax Positions | 57 | |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 1,047 | |
Foreign Earnings Repatriated | 6,490 | |
Income Tax Expense (Benefit) | 422 | 467 |
Domestic Tax Authority [Member] | ||
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 132 | 132 |
Deferred Tax Liabilities, Net | 2,271 | |
Foreign Tax Authority [Member] | ||
Deferred Tax Liabilities, Net | 16 | |
Income Tax Expense (Benefit) | 16 | |
Release of Uncertain Tax Positions [Member] | ||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 762 | $ 706 |
Note 3 - Income Taxes - Income
Note 3 - Income Taxes - Income (Loss) Before Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Domestic | $ (11,565) | $ (10,499) |
Foreign | (709) | 1,158 |
Total | $ (12,274) | $ (9,341) |
Note 3 - Income Taxes - Compone
Note 3 - Income Taxes - Components of Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Current tax provision (benefit): | ||
U.S. Federal | $ 0 | $ 185 |
State | 196 | (64) |
Foreign | 255 | 376 |
Current tax provision (benefit) | 449 | 497 |
Deferred tax provision: | ||
U.S. Federal | 14 | (1) |
Foreign | (43) | (29) |
Deferred tax provision | (29) | (30) |
Provision for income taxes | $ 422 | $ 467 |
Note 3 - Income Taxes - Reconci
Note 3 - Income Taxes - Reconciliation of the Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Income taxes at the U.S. statutory rate | $ (4,296) | $ (3,269) |
Income taxes at the U.S. statutory rate, effective tax rate | 35.00% | 35.00% |
Equity compensation | $ 42 | $ 22 |
Equity compensation, effective tax rate | (0.30%) | (0.20%) |
Penalties | $ 0 | $ 0 |
Penalties, effective tax rate | 0.00% | 0.00% |
Other permanent differences | $ 342 | $ 448 |
Other permanent differences, effective tax rate | (2.80%) | (4.80%) |
Effects of foreign taxes and tax credits | $ 2,368 | $ (184) |
Effects of foreign taxes and tax credits, effective tax rate | (19.30%) | 2.00% |
State income taxes | $ (439) | $ (363) |
State income taxes, effective tax rate | 3.60% | 3.90% |
Uncertain tax positions | $ 320 | $ 57 |
Uncertain tax positions, effective tax rate | (2.60%) | (0.60%) |
Change in valuation allowance | $ 1,911 | $ 3,737 |
Change in valuation allowance, effective tax rate | (15.60%) | (40.00%) |
Other | $ 174 | $ 19 |
Other, effective tax rate | (1.40%) | (0.30%) |
Provision for income taxes | $ 422 | $ 467 |
Total provision for income taxes, effective tax rate | (3.40%) | (5.00%) |
Note 3 - Income Taxes - Deferre
Note 3 - Income Taxes - Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Deferred tax assets: | ||
Foreign tax credit carryforwards | $ 132 | |
Deferred tax liabilities: | ||
Foreign net deferred tax assets | 12,940 | $ 11,034 |
Domestic and foreign deferred tax assets | 12,940 | 11,034 |
Valuation allowances | (12,602) | (10,692) |
Net deferred tax assets | 338 | 342 |
Domestic Tax Authority [Member] | ||
Deferred tax assets: | ||
Deferred facilities rent charges | 2,721 | 1,330 |
Deferred revenue | 1,772 | 2,092 |
Foreign tax credit carryforwards | 132 | 132 |
Alternative minimum tax credit carryforwards | 189 | 189 |
Accrued vacation | 360 | 443 |
Equity compensation | 58 | 37 |
Depreciation and amortization | 2,418 | 2,789 |
Net operating loss | 6,873 | 3,912 |
Capital loss | 78 | 79 |
Other | 435 | 198 |
Deferred tax liabilities: | ||
Prepaid expenses | (158) | (505) |
Undistributed earnings of foreign subsidiaries | (2,287) | 0 |
Domestic net deferred tax assets | 12,591 | 10,696 |
Foreign Tax Authority [Member] | ||
Deferred tax assets: | ||
Depreciation and other | 422 | 472 |
Deferred tax liabilities: | ||
Depreciation and other | (73) | (134) |
Foreign net deferred tax assets | 349 | 338 |
Domestic and foreign deferred tax assets | $ 349 | $ 338 |
Note 3 - Income Taxes - Aggrega
Note 3 - Income Taxes - Aggregate Change in The Balance of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Balance, beginning of year | $ 472 | $ 606 |
Decreases related to tax positions taken during a prior period | 0 | (134) |
Increases related to tax positions taken during the current period | 241 | 0 |
Balance end of year | $ 713 | $ 472 |
Note 4 - Commitments and Cont42
Note 4 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Operating Leases, Rent Expense | $ 9,231 | $ 9,114 |
Operating Leases, Rent Expense, Sublease Rentals | $ 83 | $ 120 |
Note 4 - Commitments And Cont43
Note 4 - Commitments And Contingencies - Future Minimum Lease Payments (Details) $ in Thousands | Sep. 30, 2016USD ($) |
Minimum Lease Payments, 2017 | $ 7,440 |
Less Sublease Proceeds, 2017 | 185 |
Net Lease Commitments, 2017 | 7,255 |
Minimum Lease Payments, 2018 | 5,916 |
Less Sublease Proceeds, 2018 | 328 |
Net Lease Commitments, 2018 | 5,588 |
Minimum Lease Payments, 2019 | 5,764 |
Less Sublease Proceeds, 2019 | 341 |
Net Lease Commitments, 2019 | 5,423 |
Minimum Lease Payments, 2020 | 5,419 |
Less Sublease Proceeds, 2020 | 203 |
Net Lease Commitments, 2020 | 5,216 |
Minimum Lease Payments, 2021 | 4,175 |
Less Sublease Proceeds, 2021 | 0 |
Net Lease Commitments, 2021 | 4,175 |
Minimum Lease Payment, Thereafter | 9,033 |
Less Sublease Proceeds, Thereafter | 0 |
Net Lease Commitments, Thereafter | 9,033 |
Minimum Lease Payments | 37,747 |
Less Sublease Proceeds | 1,057 |
Net Lease Commitments | $ 36,690 |
Note 4 - Commitments and Cont44
Note 4 - Commitments and Contingencies - Future Minimum Capital Lease Payments (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
2,017 | $ 124 | |
2,018 | 116 | |
2,019 | 116 | |
2,020 | 116 | |
2,021 | 103 | |
Total minimum payments | 575 | |
Less amount representing interest (imputed weighted average capital lease annual interest rate of 9.1% for Equipment Lease and 7.67% for Software Lease) | (108) | |
Net minimum payments | 467 | |
Less Current Portion | (81) | $ 0 |
$ 386 | $ 0 |
Note 4 - Commitments and Cont45
Note 4 - Commitments and Contingencies - Future Minimum Capital Lease Payments (Details) (Parentheticals) - Weighted Average [Member] | Sep. 30, 2016 |
Equipment [Member] | |
Weighted average interest rate | 9.10% |
Printer Software [Member] | |
Weighted average interest rate | 7.67% |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Details Textual) shares in Thousands | 12 Months Ended |
Oct. 02, 2015shares | |
Treasury Stock, Shares, Acquired | 0 |
Note 6 - Stock-based Compensa47
Note 6 - Stock-based Compensation (Details Textual) - USD ($) | 12 Months Ended | |||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | Jan. 23, 2007 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 182 days | 8 years 109 days | 8 years | |
Employee Stock Option [Member] | ||||
Allocated Share-based Compensation Expense | $ 164,000 | $ 76,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 352,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 219 days | |||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 0 | |||
Equity Incentive Plan 2007 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 10 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Note 6 - Stock-Based Compensa48
Note 6 - Stock-Based Compensation - Option Activity (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2016 | Oct. 02, 2015 | Oct. 03, 2014 | |
Options outstanding (in shares) | 250,000 | 200,000 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 3.43 | $ 3.85 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 8 years 182 days | 8 years 109 days | 8 years |
Options outstanding, aggregate intrinsic value | $ 0 | $ 0 | |
Options granted (in shares) | 600,000 | 50,000 | |
Options granted, weighted average exercise price (in dollars per share) | $ 1.24 | $ 1.76 | |
Options granted, weighted average remaining contractual term (Year) | 9 years 219 days | 9 years 219 days | |
Options granted, aggregate intrinsic value | $ 0 | $ 0 | |
Options exercised (in shares) | 0 | 0 | |
Options exercised, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | |
Options forfeited, expired and unearned (in shares) | 0 | 0 | |
Options forfeited, expired and unearned, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | |
Options outstanding (in shares) | 850,000 | 250,000 | 200,000 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.88 | $ 3.43 | $ 3.85 |
Options outstanding, aggregate intrinsic value | $ 0 | $ 0 | |
Vested and expected to vest at September 30, 2016 (in shares) | 836,958 | ||
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 1.89 | ||
Vested and expected to vest, weighted average remaining contractual term (Year) | 8 years 182 days | ||
Vested and expected to vest, aggregate intrinsic value | $ 0 | ||
Exercisable at September 30, 2016 (in shares) | 112,500 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 3.61 | ||
Exercisable, weighted average remaining contractual term (Year) | 7 years 73 days | ||
Exercisable, aggregate intrinsic value | $ 0 |
Note 7 - Employee Benefit Pla49
Note 7 - Employee Benefit Plans (Details Textual) - The Learning Tree International 401K Plan [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Defined Contribution Plan Employer Contribution as Percentage of Employee Contribution | 30.00% | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 6.00% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 241 | $ 40 |
Defined Contribution Plan Forfeitures | 21 | 229 |
Defined Contribution Plan, Cost Recognized | $ 376 | $ 470 |
Note 8 - Loss Per Share (Detail
Note 8 - Loss Per Share (Details Textual) - shares | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 850,000 | 250,000 |
Note 8 - Loss Per Share - Basic
Note 8 - Loss Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Numerator: | ||
Loss from continuing operations | $ (12,696) | $ (9,808) |
(Loss) income from discontinued operations | 0 | (2,765) |
Net (loss) income | $ (12,696) | $ (12,573) |
Denominator: | ||
Basic (in shares) | 13,224 | 13,224 |
Effect of dilutive securities (in shares) | 0 | 0 |
Diluted (in shares) | 13,224 | 13,224 |
(Loss) income per common share - basic and diluted: | ||
Continuing operations (in dollars per share) | $ (0.96) | $ (0.74) |
Discontinued operations (in dollars per share) | 0 | (0.21) |
Basic and diluted loss per common share (in dollars per share) | $ (0.96) | $ (0.95) |
Note 9 - Operating Segment Re52
Note 9 - Operating Segment Reporting (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Revenues | $ 81,587 | $ 94,884 |
Intersegment Sales [Member] | ||
Revenues | $ 5,101 | $ 4,049 |
Note 9 - Operating Segment Info
Note 9 - Operating Segment Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Revenues: | ||
Revenues | $ 81,587 | $ 94,884 |
Total-Revenue | 81,587 | 98,220 |
Gross profit: | ||
Gross Profit | 31,424 | 39,075 |
Total | 31,424 | 40,364 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 2,830 | 4,318 |
Total-Depreciation and Amortization | 2,830 | 4,509 |
Continuing Operations [Member] | ||
Revenues: | ||
Revenues | 81,587 | 94,884 |
Gross profit: | ||
Gross Profit | 31,424 | 39,075 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 2,830 | 4,318 |
Discontinued Operations [Member] | ||
Revenues: | ||
Revenues | 0 | 3,336 |
Gross profit: | ||
Gross Profit | 0 | 1,289 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 0 | 191 |
UNITED STATES | Continuing Operations [Member] | ||
Revenues: | ||
Revenues | 51,377 | 57,787 |
Gross profit: | ||
Gross Profit | 19,618 | 22,396 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 1,915 | 2,818 |
CANADA | Continuing Operations [Member] | ||
Revenues: | ||
Revenues | 7,961 | 8,752 |
Gross profit: | ||
Gross Profit | 3,119 | 4,401 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 236 | 330 |
North America [Member] | Continuing Operations [Member] | ||
Revenues: | ||
Revenues | 59,338 | 66,539 |
Gross profit: | ||
Gross Profit | 22,737 | 26,797 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 2,151 | 3,148 |
UNITED KINGDOM | Continuing Operations [Member] | ||
Revenues: | ||
Revenues | 16,878 | 22,151 |
Gross profit: | ||
Gross Profit | 5,414 | 8,422 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 620 | 1,020 |
SWEDEN | Continuing Operations [Member] | ||
Revenues: | ||
Revenues | 3,069 | 4,232 |
Gross profit: | ||
Gross Profit | 1,625 | 2,542 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 56 | 134 |
JAPAN | Continuing Operations [Member] | ||
Revenues: | ||
Revenues | 2,302 | 1,962 |
Gross profit: | ||
Gross Profit | 1,648 | 1,314 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | 3 | 16 |
FRANCE | Discontinued Operations [Member] | ||
Revenues: | ||
Revenues | 0 | 3,336 |
Gross profit: | ||
Gross Profit | 0 | 1,289 |
Depreciation and amortization: | ||
Depreciation, Depletion and Amortization | $ 0 | $ 191 |
Note 9 - Operating Segment In54
Note 9 - Operating Segment Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Assets | $ 31,607 | $ 43,921 |
Long-lived assets: | ||
Long-lived assets | 6,611 | 6,751 |
Capital expenditures: | ||
Capital expenditure | 385 | 2,255 |
Total-Capital expenditure | 475 | 2,260 |
Continuing Operations [Member] | ||
Assets | 31,621 | 43,921 |
Long-lived assets: | ||
Long-lived assets | 6,611 | 6,751 |
Capital expenditures: | ||
Capital expenditure | 475 | 2,255 |
Discontinued Operations [Member] | ||
Assets | 0 | 0 |
Long-lived assets: | ||
Long-lived assets | 0 | 0 |
Capital expenditures: | ||
Capital expenditure | 0 | 5 |
UNITED STATES | Continuing Operations [Member] | ||
Assets | 15,578 | 23,683 |
Long-lived assets: | ||
Long-lived assets | 4,211 | 3,266 |
Capital expenditures: | ||
Capital expenditure | 264 | 1,042 |
CANADA | Continuing Operations [Member] | ||
Assets | 3,395 | 3,729 |
Long-lived assets: | ||
Long-lived assets | 480 | 707 |
Capital expenditures: | ||
Capital expenditure | 11 | 669 |
North America [Member] | Continuing Operations [Member] | ||
Assets | 18,973 | 27,412 |
Long-lived assets: | ||
Long-lived assets | 4,691 | 3,973 |
Capital expenditures: | ||
Capital expenditure | 275 | 1,711 |
UNITED KINGDOM | Continuing Operations [Member] | ||
Assets | 8,046 | 11,789 |
Long-lived assets: | ||
Long-lived assets | 1,725 | 2,532 |
Capital expenditures: | ||
Capital expenditure | 200 | 360 |
SWEDEN | Continuing Operations [Member] | ||
Assets | 2,688 | 3,215 |
Long-lived assets: | ||
Long-lived assets | 119 | 179 |
Capital expenditures: | ||
Capital expenditure | 0 | 179 |
JAPAN | Continuing Operations [Member] | ||
Assets | 1,900 | 1,505 |
Long-lived assets: | ||
Long-lived assets | 76 | 67 |
Capital expenditures: | ||
Capital expenditure | 0 | 5 |
FRANCE | Discontinued Operations [Member] | ||
Assets | 0 | 0 |
Long-lived assets: | ||
Long-lived assets | 0 | 0 |
Capital expenditures: | ||
Capital expenditure | $ 0 | $ 5 |
Note 10 - Deferred Facilities55
Note 10 - Deferred Facilities Rent and Other - Current Portion of Deferred Facilities Rent and Other (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Deferred rent | $ 529 | $ 1,073 |
Capital lease | 81 | 0 |
Current portion of deferred facilities rent and other | 1,667 | 1,401 |
Reston [Member] | ||
Lease liability | 1,057 | 0 |
LA [Member] | ||
Lease liability | $ 0 | $ 328 |
Note 10 - Deferred Facilities56
Note 10 - Deferred Facilities Rent and Other - Deferred Facilities Rent and Other (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Oct. 02, 2015 |
Deferred rent | $ 3,808 | $ 2,575 |
Capital Lease | 386 | 0 |
Deferred facilities rent and other | 6,297 | 2,575 |
Reston [Member] | ||
Reston lease liability | $ 2,103 | $ 0 |
Note 11 - Valuation and Qualify
Note 11 - Valuation and Qualifying Accounts - Summary of Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Provision for doubtful accounts | $ 391 | $ 63 |
Allowance for Doubtful Accounts [Member] | ||
Beginning balance | 160 | 158 |
Provision for doubtful accounts | 391 | 63 |
Charges against allowance | (10) | (64) |
Other | 1 | 3 |
Ending balance | $ 542 | $ 160 |
Note 11 - Valuation and Quali58
Note 11 - Valuation and Qualifying Accounts - Valuation Allowance for Deferred Tax Assets Activity (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Beginning balance | $ 10,692 | $ 6,974 |
Provisions | 1,910 | 3,718 |
Charges against allowance | 0 | 0 |
Ending balance | $ 12,602 | $ 10,692 |
Note 11 - Valuation and Quali59
Note 11 - Valuation and Qualifying Accounts - Los Angeles Lease Liability (Details) - Los Angeles Lease Liability [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Beginning balance | $ 328 | $ 959 |
Provisions | 1,940 | 30 |
Accretion | 23 | |
Reston Town Center Deferred Rent | 1,220 | 0 |
Charges against allowance | (351) | (661) |
Ending balance | $ 3,160 | $ 328 |
Note 12 - Discontinued Operat60
Note 12 - Discontinued Operations (Details Textual) - USD ($) $ in Thousands | Mar. 03, 2015 | Sep. 30, 2016 | Oct. 02, 2015 |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $ 0 | $ (2,501) | |
Learning Tree International S.A. [Member] | |||
Discontinued Operation, Period of Continuing Involvement after Disposal | 2 years | ||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $ (2,501) |
Note 12 - Discontinued Operat61
Note 12 - Discontinued Operations - Condensed Income Statement (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
$ 0 | $ (2,765) | |
Learning Tree International S.A. [Member] | ||
Revenues | 0 | 3,335 |
Cost of revenues | 0 | 2,046 |
Gross profit | 0 | 1,289 |
Operating expenses | 0 | 1,626 |
(Loss) income from operations | 0 | (337) |
Other (expense) income, net | 0 | (44) |
Loss from discontinued operations before income taxes | 0 | (381) |
Income taxes | 0 | (117) |
$ 0 | $ (264) |
Note 12 - Discontinued Operat62
Note 12 - Discontinued Operations - Calculation of the Loss On Disposal (Details) - USD ($) $ in Thousands | Mar. 03, 2015 | Sep. 30, 2016 | Oct. 02, 2015 |
Calculation of the loss on disposal of LTRE(FR): | |||
Loss on sale | $ 0 | $ 2,501 | |
Learning Tree International S.A. [Member] | |||
Calculation of the loss on disposal of LTRE(FR): | |||
Investment in Learning Tree International S.A. | $ 1,324 | ||
Costs of sale | 619 | ||
Cumulative translation adjustment realized | 558 | ||
Loss on sale | $ 2,501 |
Note 13 - Restructuring Activ63
Note 13 - Restructuring Activity (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2016 | Oct. 02, 2015 | |
Restructuring Charges | $ 1,940 | $ 0 | |
Reston Town Center Facility [Member] | |||
Restructuring and Related Activities, Renewed Sublease Surplus Space | 81.00% | ||
Restructuring Charges | $ 1,900 | ||
Subleased Surplus Space, Percentage | 24.00% | 24.00% |
Note 13 - Restructing Activity
Note 13 - Restructing Activity - Restructuring Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2016 | Oct. 02, 2015 | |
Additions: | ||
Restructuring charge | $ 1,940 | $ 0 |
Facility Closing [Member] | ||
Balance | 328 | |
Additions: | ||
Restructuring charge | 3,183 | |
Reductions: | ||
Reductions to restructuring reserve | (351) | |
Balance | 3,160 | $ 328 |
Facility Closing [Member] | RTC Cease-Use Charge [Member] | ||
Additions: | ||
Restructuring charge | 1,940 | |
Facility Closing [Member] | RTC Deferred Rent Liability [Member] | ||
Additions: | ||
Restructuring charge | 1,220 | |
Facility Closing [Member] | Accretion Expense 1 [Member] | ||
Additions: | ||
Restructuring charge | 23 | |
Facility Closing [Member] | Rent Payments [Member] | ||
Reductions: | ||
Reductions to restructuring reserve | $ (351) |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - Action Capital [Member] - Subsequent Event [Member] - Line of Credit [Member] - Financing Agreement [Member] $ in Thousands | Jan. 12, 2017USD ($) |
Line of Credit Facility, Maximum Borrowing Capacity | $ 3,000 |
Percentage of Net Amount of Certain Customer Accounts Receivable | 85.00% |
Debt Instrument, Monthly Fee, Percentage of Outstanding Advances | 0.70% |
Debt Instrument, Fee, Percentage of Maximum Aggregate Principle Amount | 0.25% |
Debt Instrument, Fee Payment Period after Signing Agreement until Terminated | 90 days |
Prime Rate [Member] | |
Debt Instrument, Basis Spread on Variable Rate | 1.75% |