Legacy Education Alliance (LEAI) 10-Q 15 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	8-May-15
Document and Entity Information [Abstract]
Entity Registrant Name	Legacy Education Alliance, Inc.
Entity Central Index Key	1561880
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		20,000,518

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$3,675	$2,932
Restricted cash	2,556	1,843
Deferred course expenses	8,398	8,722
Prepaid expenses and other current assets	3,196	2,528
Inventory	189	161
Total current assets	18,014	16,186
Property and equipment, net	1,294	1,324
Other assets	214	217
Total assets	19,522	17,727
Current liabilities:
Accounts payable	3,278	2,620
Royalties payable	273	104
Accrued course expenses	1,472	1,060
Accrued salaries, wages and benefits	1,033	564
Other accrued expenses	3,195	2,967
Long-term debt, current portion	10	9
Deferred revenue, current portion	55,636	56,140
Total current liabilities	64,897	63,464
Long-term debt, net of current portion	49	52
Deferred revenue, net of current portion	248	238
Other liabilities	64	126
Total liabilities	65,258	63,880
Commitments and contingencies (note 9)
Stockholders' deficit:
Preferred stock, $0.0001 par value; 20,000,000 shares authorized; none issued
Common stock, $0.0001 par value; 200,000,000 shares authorized; 20,000,518 shares issued and outstanding at March 31, 2015; 20,000,518 shares issued and outstanding at December 31, 2014	2	2
Additional paid-in capital	10,547	10,547
Cumulative foreign currency translation adjustment	1,398	370
Accumulated deficit	-57,683	-57,072
Total stockholders' deficit	-45,736	-46,153
Total liabilities and stockholders' deficit	$19,522	$17,727

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Balance Sheets [Abstract]
Preferred stock par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	20,000,518	20,000,518
Common stock, shares outstanding	20,000,518	1,290,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Revenue	$21,743	$26,639
Operating costs and expenses:
Direct course expenses	11,534	11,667
Advertising and sales expenses	5,157	5,601
Royalty expenses	1,201	2,191
General and administrative expenses	4,562	3,826
Total operating costs and expenses	22,454	23,285
Income (loss) from operations	-711	3,354
Other income (expense):
Litigation settlement		1,300
Interest income		2
Interest expense	-2	-29
Other income, net	113	122
Total other income	111	1,395
Income (loss) before income taxes	-600	4,749
Income tax expense	-11	-13
Net income (loss)	-611	4,736
Basic and diluted earnings (loss) per common share	($0.03)	$0.30
Basic and diluted weighted average common shares outstanding	20,001	15,936
Comprehensive income:
Net income (loss)	-611	4,736
Foreign currency translation adjustment	1,028	42
Total comprehensive income	$417	$4,778

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) (USD $)	Total	Common stock	Additional paid-in capital	Cumulative foreign currency translation adjustment	Accumulated deficit
In Thousands, except Share data
Balance at Dec. 31, 2013	($54,716)	$2	$10,525	($806)	($64,437)
Balance, Shares at Dec. 31, 2013		15,935
Net income (loss)	4,736				4,736
Foreign currency translation adjustment	42			42
Balance at Mar. 31, 2014	-49,938	2	10,525	-764	-59,701
Balance, Shares at Mar. 31, 2014		15,935
Balance at Dec. 31, 2014	-46,153	2	10,547	370	-57,072
Balance, Shares at Dec. 31, 2014		20,000
Net income (loss)	-611				-611
Foreign currency translation adjustment	1,028			1,028
Balance at Mar. 31, 2015	($45,736)	$2	$10,547	$1,398	($57,683)
Balance, Shares at Mar. 31, 2015		20,000

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss)	($611)	$4,736
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	51	55
Deferred income taxes	1	1
Litigation settlement		-1,300
Change in operating assets and liabilities:
Restricted cash	-742	183
Deferred course expenses	160	2,075
Prepaid expenses and other receivables	-788	-103
Inventory	-33	-30
Other assets	-6	-20
Accounts payable-trade	722	715
Royalties payable	169	-278
Accrued course expenses	450	561
Accrued salaries, wages and benefits	482	175
Other accrued expenses	595	635
Deferred revenue	696	-4,094
Net cash provided by operating activities	1,146	3,311
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	-24	-67
Net cash used in investing activities	-24	-67
CASH FLOWS FROM FINANCING ACTIVITIES
Principle payments of debt	-2	-302
Net cash used in financing activities	-2	-302
Effect of exchange rate differences on cash	-377	-157
Net increase in cash and cash equivalents	743	2,785
Cash and cash equivalents, beginning of period	2,932	5,554
Cash and cash equivalents, end of period	3,675	8,339
Supplemental disclosures:
Cash paid during the period for income taxes, net of refunds received	-6	-10
Cash paid during the period for interest	$2	$29

General

General	3 Months Ended
	Mar. 31, 2015
General [Abstract]
General	Note 1 — General
	Description of our Business. We are a provider of practical, high-quality and value-based training, conferences, publications, technology-based tools and mentoring to help students become financially knowledgeable. We provide students with comprehensive instruction and mentoring on the topics of real estate, financial instruments investing, and entrepreneurship in the United States, Canada, the United Kingdom, and other international markets. Our training is offered in non-accredited free preview workshops, as well as basic training, advanced courses, mentoring and coaching, primarily under the Rich Dad® Education brand (“Rich Dad”) which was created in 2006 under license from entities affiliated with Robert Kiyosaki, whose teachings and philosophies are detailed in the book titled, Rich Dad Poor Dad. In addition to Rich Dad, we market our products and services under a variety of brands, including Martin Roberts™, Independent Woman™, Women in Wealth™, and Brick Buy Brick™.
	Basis of Presentation. The terms “Legacy Education Alliance, Inc.,” the “Company,” “we,” “our” or “us” as used in this report refer collectively to Legacy Education Alliance, Inc., a Nevada corporation (“Legacy”), the registrant, which was formerly known as Priced In Corp., and, unless the context otherwise requires, together with its wholly-owned subsidiary, Legacy Educational Alliance Holdings, Inc., a Colorado corporation, other operating subsidiaries and any predecessor of Legacy Holdings, including Tigrent Inc., a Colorado corporation.
	The accompanying unaudited condensed consolidated financial statements presented herein are for us and our consolidated subsidiaries, each of which is a wholly-owned subsidiary. All significant intercompany transactions have been eliminated. These interim financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014 and reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly our results of operations and financial position. Amounts reported in our Condensed Consolidated Statements of Operations are not necessarily indicative of amounts expected for the respective annual periods or any other interim period.
	Significant Accounting Policies. Our significant accounting policies have been disclosed in Note 2 - Significant Accounting Policies in our most recent Annual Report on Form 10-K. There have been no changes to the policies disclosed therein. The accompanying unaudited condensed consolidated financial statements we present in this report have been prepared in accordance with those policies.
	Reclassifications. Certain amounts reported in the condensed consolidated financial statements for the prior periods have been reclassified to conform to the current reporting presentation.
	Use of Estimates. The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	Income Tax in Interim Periods. We conduct operations in separate legal entities in different jurisdictions. As a result, income tax amounts are reflected in these condensed consolidated financial statements for each of those jurisdictions. Tax laws and tax rates vary substantially in these jurisdictions and are subject to change based on the political and economic climate in those countries. We file our tax returns in accordance with our interpretations of each jurisdiction’s tax laws. We record our tax provision or benefit on an interim basis using the estimated annual effective tax rate. This rate is applied to the current period ordinary income or loss to determine the income tax provision or benefit allocated to the interim period.
	Losses from jurisdictions for which no benefit can be realized and the income tax effects of unusual and infrequent items are excluded from the estimated annual effective tax rate. Valuation allowances are provided against the future tax benefits that arise from the losses in jurisdictions for which no benefit can be realized. The effects of unusual and infrequent items are recognized in the impacted interim period as discrete items.
	The estimated annual effective tax rate may be affected by nondeductible expenses and by our projected earnings mix by tax jurisdiction. Adjustments to the estimated annual effective income tax rate are recognized in the period during which such estimates are revised.
	We have established valuation allowances against our deferred tax assets, including net operating loss carryforwards and income tax credits. Valuation allowances take into consideration our expected ability to realize these deferred tax assets and reduce the value of such assets to the amount that is deemed more likely than not to be realizable. Our ability to realize these deferred tax assets is dependent on achieving our forecast of future taxable operating income over an extended period of time. We review our forecast in relation to actual results and expected trends on a quarterly basis. A change in our valuation allowance would impact our income tax expense/benefit and our stockholders’ equity and could have a significant impact on our results of operations or financial condition in future periods.

New_Accounting_Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	Note 2 — New Accounting Pronouncements
	Adoption of Accounting Standards
	We have implemented all new accounting pronouncements that are in effect and that management believes would materially affect our financial statements.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2015
Share-Based Compensation [Abstract]
Share-Based Compensation	Note 3 — Share-Based Compensation
	Legacy Education Alliance, Inc. does not currently have any stock-based compensation plans. However, our parent company, Tigrent Inc., does have two incentive stock plans; the “2009 Incentive Plan” and the “2012 Incentive Plan”, which cover some of our current employees and directors. The financial activity pertaining to our employees and directors is reflected in our condensed consolidated financial statements, presented herein.
	We account for share-based awards under the provisions of ASC 718, “Compensation—Stock Compensation.” Accordingly, share-based compensation cost for all stock based payment awards made to employees and directors under Tigrent’s Incentive Plans is measured at the grant date based on the fair value of the award and we expense these costs using the straight-line method over the requisite service period. Share-based compensation expense was $0.0 million and $0.0 million for the three months ended March 31, 2015 and 2014, respectively. We record these costs in general and administrative expenses. See Note 7 — Stock-Based Compensation, in the Notes to Consolidated Financial Statements for the year ended December 31, 2014, included in our 2014 Annual Report for further discussion.

Earnings_Per_Share_EPS

Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2015
Earnings Per Share ("EPS") [Abstract]
Earnings Per Share ("EPS")	Note 4 — Earnings Per Share (“EPS”)
	Basic EPS is computed by dividing net income by the weighted-average number of shares outstanding during the period.
	Diluted EPS is computed by dividing net income by the diluted weighted-average number of shares outstanding during the period and, accordingly, reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as stock options, were exercised, settled or converted into common stock and were dilutive.
	Legacy Education Alliance, Inc. does not currently have any stock-based compensation plans, and therefore, our Condensed Consolidated Statements of Operations and Comprehensive Income do not reflect any dilutive effects that such plans would typically require.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	Note 5 — Fair Value Measurements
	ASC 820, “Fair Value Measurements and Disclosures” defines fair value, establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value measurements. ASC 820 requires entities to, among other things, maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
	ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.
	ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions.
	In accordance with ASC 820, these two types of inputs have created the following fair value hierarchy:
	·	Level 1—Inputs that are quoted prices (unadjusted) for identical assets or liabilities in active markets;
	·	Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability, including:
	·	Quoted prices for similar assets or liabilities in active markets
	·	Quoted prices for identical or similar assets or liabilities in markets that are not active
	·	Inputs other than quoted prices that are observable for the asset or liability
	·	Inputs that are derived principally from or corroborated by observable market data by correlation or other means; and
	·	Level 3—Inputs that are unobservable and reflect our assumptions used in pricing the asset or liability based on the best information available under the circumstances (e.g., internally derived assumptions surrounding the timing and amount of expected cash flows).
	Financial Instruments. Financial instruments consist primarily of cash and cash equivalents, notes receivable, accounts payable, deferred course expenses, accrued expenses, deferred revenue, and debt. GAAP requires the disclosure of the fair value of financial instruments, including assets and liabilities recognized in the balance sheets. Management believes the carrying value of the other financial instruments recognized on the condensed consolidated balance sheet date, including receivables, payables and accrued liabilities approximate their fair value.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes	Note 6 — Income Taxes
	Our income tax expense was $11.0 thousand and $13.0 thousand for the three months ended March 31, 2015 and 2014, respectively. Our effective tax rate was (1.8)% and 0.3% for the three months ended March 31, 2015 and 2014, respectively. Our effective tax rates differed from the U.S. statutory corporate tax rate of 35.0% primarily because of the mix of pre-tax income or loss earned in certain jurisdictions and the change in our valuation allowance.
	We record a valuation allowance when it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. As of March 31, 2015 and December 31, 2014, a valuation allowance of $7.5 million and $7.9 million, respectively, has been provided for net operating loss carryforwards and other deferred tax assets. We decreased our valuation allowance by $0.4 million for the three months ended March 31, 2015, primarily due to current period realization of deferred tax assets related to deferred revenue. We decreased our valuation allowance by $0.1 million for the three months ended March 31, 2014, primarily due to a decrease in foreign net operating loss carryforwards.
	As of March 31, 2015 and December 31, 2014, we had total unrecognized tax benefits of $1.7 million and $1.7 million, respectively, related to foreign and domestic tax positions. Of this amount, we estimate that that $0.1 million and $0.1 million, respectively, of the unrecognized tax benefits, if recognized, would impact the effective tax rate. A substantial portion of our liability for uncertain tax benefits is recorded as a reduction of net operating losses and tax credit carryforwards.
	During the three months ended March 31, 2015 and 2014, we did not have any changes in our uncertain tax positions. We record interest and penalties related to unrecognized tax benefits within the provision for income taxes. We believe that no current tax positions that have resulted in unrecognized tax benefits will significantly increase or decrease within one year. We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions.

Concentration_of_Risk

Concentration of Risk	3 Months Ended
	Mar. 31, 2015
Concentration of Risk [Abstract]
Concentration of Risk	Note 7 — Concentration of Risk
	Cash and cash equivalents. We maintain deposits in banks which may exceed the federal deposit insurance available. Management believes the potential risk of loss on these cash and cash equivalents to be minimal. All cash balances as of December 31, 2014 and March 31, 2015, including foreign subsidiaries, without FDIC coverage was $2.3 million and $3.3 million, respectively.
	Revenue. A significant portion of our revenue is derived from the Rich Dad brands. For the three months ended March 31, 2015 and March 31, 2014, Rich Dad brands provided 84.0% and 89.0% of our revenue, respectively. We have operations in the U.S., Canada and theUnited Kingdom. See Note 8 Segment Information, for further discussion.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Information [Abstract]
Segment Information	Note 8 — Segment Information
	We manage our business in three segments based on geographic location for which operating managers are responsible to the Chief Operations Officer. In accordance with the provisions of ASC 280, “Segment Reporting ,” our chief operating decision-maker has been identified as our Chief Operating Officer, who reviews our operating results along with other members of our executive team of these four segments in order to make decisions about allocating resources and assessing performance for the entire company.
	The proportion of our total revenue attributable to each segment is as follows:
		Three months ended
		March 31,
		2015			2014
		(In thousands)
	As a percentage of total revenue
	United States		71	%		75.3	%
	Canada		6.7			6.5
	U.K.		18.8			16.7
	Other foreign markets		3.5			1.5
	Total consolidated revenue		100	%	100	%
	Operating results for the segments are as follows:
		Three months ended
		March 31,
		2015			2014
		(In thousands)
	Segment revenue
	United States	$	15,434		$	20,046
	Canada		1,468			1,740
	U.K.		4,075			4,455
	Other foreign markets		766			398
	Total consolidated revenue	$	21,743		$	26,639
		Three months ended
		March 31,
		2015			2014
		(In thousands)
	Segment gross profit contribution *
	United States	$	4,582		$	6,645
	Canada		289			(34	)
	U.K.		284			417
	Other foreign markets		(1,304	)		152
	Total consolidated gross profit	$	3,851		$	7,180
	* Segment gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expense.
		Three months ended
		March 31,
		2015			2014
		(In thousands)
	Depreciation and amortization expenses
	United States	$	44		$	26
	Canada		1			—
	U.K.		6			6
	Other foreign markets		—			—
	Total consolidated depreciation and amortization expenses	$	51		$	32
		31-Mar-15			31-Dec-14
		(In thousands)
	Segment identifiable assets
	United States	$	12,232		$	10,999
	Canada		1,232			1,334
	U.K.		4,187			4,518
	Other foreign markets		1,871			876
	Total consolidated identifiable assets	$	19,522		$	17,727

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 9 — Commitments and Contingencies
	Private offering of securities. During the first quarter of 2015, the Company commenced a private offering of units at a gross price per unit of $0.55. Each unit included one share of common stock and a three-year warrant to purchase one share of common stock at an initial exercise price per share equal to $0.75, subject to adjustment for certain corporate transactions such as a merger, stock-split or stock dividend. Each unit included registration rights for the investors for the shares of common stock and the shares of common stock that would be issued upon the exercise of a warrant (“Underlying Shares”). As of March 27, 2015, the Company has received subscriptions for approximately 840,000 units. As of April 30, 2015, none of these subscriptions have been accepted by the Company and, accordingly, none of these shares of common stock or warrants have been issued. We have offered to accept these subscriptions if (1) the investors waive their registration rights for their shares of common stock issued with each unit other than to register the Underlying Shares when and if we register our shares of common stock in a different offering, subject to certain excluded registered offerings, and (2) the placement agent agrees to terminate its placement agent agreement. There can be no assurance that we will ever accept these subscriptions. If we accept these subscriptions, then we will pay a placement agent cash fees of 13% of aggregate proceeds received from share sales and 5% of all amounts received upon the exercise of warrants and issue to the placement agent warrants to purchase our shares of common stock equal to 10% of the total shares sold in the offering. The agreement with this placement agent will terminate on the termination of this offering or the date that we accept these subscriptions. We received $0.5 million in cash during the three months ended March 31, 2015 associated with this transaction, which is recorded in restricted cash and other accrued expenses on our Condensed Consolidated Balance Sheets.
	Licensing agreements. We are committed to pay royalties for the usage of certain brands, as governed by various licensing agreements, including Rich Dad, Robbie Fowler and Martin Roberts. Total royalty expenses included in our Condensed Consolidated Statement of Operations and Comprehensive Income for the three months ended March 31, 2015 and March 31, 2014 were $1.2 million and $2.2 million, respectively.
	Custodial and Counterparty Risk. We are subject to custodial and other potential forms of counterparty risk in respect to a variety of contractual and operational matters. In the course of ongoing company-wide risk assessment, management monitors our arrangements that involve potential counterparty risk, including the custodial risk associated with amounts prepaid to certain vendors and deposits with credit card and other payment processors. Deposits held by our credit card processors at March 31, 2015 and December 31, 2014, was $1.9 million and $1.3 million, respectively. These balances are included on the Condensed Consolidated Balance Sheets in restricted cash. While these balances reside in major financial institutions, they are only partially covered by federal deposit insurance and are subject to the financial risk of the parties holding these funds. When appropriate, we utilize Certificate of Deposit Account Registry Service (CDARS) to reduce banking risk for a portion of our cash in the United States. A CDAR consists of numerous individual investments, all below the FDIC limits, thus fully insuring that portion of our cash. At March 31, 2015, we did not have a CDAR balance.
	Litigation. We and certain of our subsidiaries, from time to time, are parties to various legal proceedings, claims and disputes that have arisen in the ordinary course of business. These claims may involve significant amounts, some of which would not be covered by insurance. A substantial settlement payment or judgment in excess of our accruals could have a material adverse effect on our financial position, results of operations or cash flows. While the outcome of these proceedings cannot be predicted with certainty, we do not expect any of these existing matters, individually or in the aggregate, to have a material adverse effect upon our financial position, results of operations or cash flows. There have been no material changes to the legal proceedings disclosed in the litigation section of Note 13 — Commitments and Contingencies, in the Notes to Consolidated Financial Statements for the year ended December 31, 2014, included in our 2014 Annual Report for further discussion.

Subsequent_Event

Subsequent Event	3 Months Ended
	Mar. 31, 2015
Subsequent Event [Abstract]
Subsequent Event	Note 10 — Subsequent Event
	We have evaluated significant events and transactions that occurred after the balance sheet date and determined that there were no events or transactions that would require recognition or disclosure in our condensed consolidated financial statements for the period ended March 31, 2015.

General_Policies

General (Policies)	3 Months Ended
	Mar. 31, 2015
General [Abstract]
Basis of Presentation	Basis of Presentation. The terms “Legacy Education Alliance, Inc.,” the “Company,” “we,” “our” or “us” as used in this report refer collectively to Legacy Education Alliance, Inc., a Nevada corporation (“Legacy”), the registrant, which was formerly known as Priced In Corp., and, unless the context otherwise requires, together with its wholly-owned subsidiary, Legacy Educational Alliance Holdings, Inc., a Colorado corporation, other operating subsidiaries and any predecessor of Legacy Holdings, including Tigrent Inc., a Colorado corporation.
	The accompanying unaudited condensed consolidated financial statements presented herein are for us and our consolidated subsidiaries, each of which is a wholly-owned subsidiary. All significant intercompany transactions have been eliminated. These interim financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014 and reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly our results of operations and financial position. Amounts reported in our Condensed Consolidated Statements of Operations are not necessarily indicative of amounts expected for the respective annual periods or any other interim period.
Significant Accounting Policies	Significant Accounting Policies. Our significant accounting policies have been disclosed in Note 2 - Significant Accounting Policies in our most recent Annual Report on Form 10-K. There have been no changes to the policies disclosed therein. The accompanying unaudited condensed consolidated financial statements we present in this report have been prepared in accordance with those policies.
Reclassifications	Reclassifications. Certain amounts reported in the condensed consolidated financial statements for the prior periods have been reclassified to conform to the current reporting presentation.
Use of Estimates	Use of Estimates. The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Tax in Interim Periods	Income Tax in Interim Periods. We conduct operations in separate legal entities in different jurisdictions. As a result, income tax amounts are reflected in these condensed consolidated financial statements for each of those jurisdictions. Tax laws and tax rates vary substantially in these jurisdictions and are subject to change based on the political and economic climate in those countries. We file our tax returns in accordance with our interpretations of each jurisdiction’s tax laws. We record our tax provision or benefit on an interim basis using the estimated annual effective tax rate. This rate is applied to the current period ordinary income or loss to determine the income tax provision or benefit allocated to the interim period.
	Losses from jurisdictions for which no benefit can be realized and the income tax effects of unusual and infrequent items are excluded from the estimated annual effective tax rate. Valuation allowances are provided against the future tax benefits that arise from the losses in jurisdictions for which no benefit can be realized. The effects of unusual and infrequent items are recognized in the impacted interim period as discrete items.
	The estimated annual effective tax rate may be affected by nondeductible expenses and by our projected earnings mix by tax jurisdiction. Adjustments to the estimated annual effective income tax rate are recognized in the period during which such estimates are revised.
	We have established valuation allowances against our deferred tax assets, including net operating loss carryforwards, and income tax credits. Valuation allowances take into consideration our expected ability to realize these deferred tax assets and reduce the value of such assets to the amount that is deemed more likely than not to be recoverable. Our ability to realize these deferred tax assets is dependent on achieving our forecast of future taxable operating income over an extended period of time. We review our forecast in relation to actual results and expected trends on a quarterly basis. A change in our valuation allowance would impact our income tax expense/benefit and our stockholders’ equity and could have a significant impact on our results of operations or financial condition in future periods.

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Information [Abstract]
Schedule of percentage of total revenue		Three months ended
		March 31,
		2015			2014
		(In thousands)
	As a percentage of total revenue
	United States		71	%		75.3	%
	Canada		6.7			6.5
	U.K.		18.8			16.7
	Other foreign markets		3.5			1.5
	Total consolidated revenue		100	%		100	%
Schedule of operating results for the segments		Three months ended
		March 31,
		2015			2014
		(In thousands)
	Segment revenue
	United States	$	15,434		$	20,046
	Canada		1,468			1,740
	U.K.		4,075			4,455
	Other foreign markets		766			398
	Total consolidated revenue	$	21,743		$	26,639
		Three months ended
		March 31,
		2015			2014
		(In thousands)
	Segment gross profit contribution *
	United States	$	4,582		$	6,645
	Canada		289			(34	)
	U.K.		284			417
	Other foreign markets		(1,304	)		152
	Total consolidated gross profit	$	3,851		$	7,180
Schedule of depreciation and amortization expenses		Three months ended
		March 31,
		2015			2014
		(In thousands)
	Depreciation and amortization expenses
	United States	$	44		$	26
	Canada		1			—
	U.K.		6			6
	Other foreign markets		—			—
	Total consolidated depreciation and amortization expenses	$	51		$	32
Schedule of segment identifiable assets		31-Mar-15			31-Dec-14
		(In thousands)
	Segment identifiable assets
	United States	$	12,232		$	10,999
	Canada		1,232			1,334
	U.K.		4,187			4,518
	Other foreign markets		1,871			876
	Total consolidated identifiable assets	$	19,522		$	17,727

ShareBased_Compensation_Detail

Share-Based Compensation (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Share-Based Compensation [Abstract]
Share-based compensation expense	$0	$0

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income Taxes (Textual)
Income tax expense (benefit)	$11,000	$13,000
Effective income tax rate	-1.80%	0.30%
Effective tax rates, U.S. statutory corporate tax rate	35.00%
Operating loss carryforwards	7,500,000		7,900,000
Decrease in valuation allowance	400,000	100,000
Unrecognized tax benefits	1,700,000		1,700,000
Unrecognized tax benefits that would impact effective tax rate	$100,000		$100,000

Concentration_of_Risk_Details

Concentration of Risk (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Concentration of Risk (Textual)
Cash balances without FDIC	3.3		$2.30
Rich Dad Brands [Member]
Concentration of Risk (Textual)
Percentage of revenue	84.00%	89.00%

Segment_Information_Details

Segment Information (Details) (Revenue [Member])	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Total consolidated revenue	100.00%	100.00%
United States [Member]
Segment Reporting Information [Line Items]
Total consolidated revenue	71.00%	75.30%
Canada [Member]
Segment Reporting Information [Line Items]
Total consolidated revenue	6.70%	6.50%
U.K. [Member]
Segment Reporting Information [Line Items]
Total consolidated revenue	18.80%	16.70%
Other foreign markets [Member]
Segment Reporting Information [Line Items]
Total consolidated revenue	3.50%	1.50%

Segment_Information_Details_1

Segment Information (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Segment Reporting Information [Line Items]
Total consolidated revenue	$21,743		$26,639
Total consolidated gross profit	3,851	[1]	7,180	[1]
United States [Member]
Segment Reporting Information [Line Items]
Total consolidated revenue	15,434		20,046
Total consolidated gross profit	4,582	[1]	6,645	[1]
Canada [Member]
Segment Reporting Information [Line Items]
Total consolidated revenue	1,468		1,740
Total consolidated gross profit	289	[1]	-34	[1]
U.K. [Member]
Segment Reporting Information [Line Items]
Total consolidated revenue	4,075		4,455
Total consolidated gross profit	284	[1]	417	[1]
Other foreign markets [Member]
Segment Reporting Information [Line Items]
Total consolidated revenue	766		398
Total consolidated gross profit	($1,304)	[1]	$152	[1]
[1]	Segment gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expense.

Segment_Information_Details_2

Segment Information (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Total consolidated depreciation and amortization expenses	$51	$55
United States [Member]
Segment Reporting Information [Line Items]
Total consolidated depreciation and amortization expenses	44	19
Canada [Member]
Segment Reporting Information [Line Items]
Total consolidated depreciation and amortization expenses	1
U.K. [Member]
Segment Reporting Information [Line Items]
Total consolidated depreciation and amortization expenses	6	6
Other foreign markets [Member]
Segment Reporting Information [Line Items]
Total consolidated depreciation and amortization expenses

Segment_Information_Details_3

Segment Information (Details 3) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]
Total consolidated identifiable assets	$19,522	$17,727
United States [Member]
Segment Reporting Information [Line Items]
Total consolidated identifiable assets	12,232	10,999
Canada [Member]
Segment Reporting Information [Line Items]
Total consolidated identifiable assets	1,232	1,334
U.K. [Member]
Segment Reporting Information [Line Items]
Total consolidated identifiable assets	4,187	4,518
Other foreign markets [Member]
Segment Reporting Information [Line Items]
Total consolidated identifiable assets	$1,871	$876

Segment_Information_Details_Te

Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2015
	Segment
Segment Reporting (Textual)
Number of operating segments	4

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 27, 2015	Dec. 31, 2014
Commitments And Contingencies Disclosure (Textual)
Royalty expenses	$1,201,000	$2,191,000
Deposits held by credit card processors	1,900,000			1,300,000
Private Placement [Member]
Commitments And Contingencies Disclosure (Textual)
Cash received in private placement	$500,000
Number of shares issued in private placement			840,000
Percentage of placement agent fees on share sales			13.00%
Percentage of amount upon the exercise of warrants			5.00%
Percentage of warrant to purchase of common stock equal of net sales			10.00%
Gross price per unit	$0.55
Private offering exercise price description	Each unit included one share of common stock and a three-year warrant to purchase one share of common stock at an initial exercise price per share equal to $0.75, subject to adjustment for certain corporate transactions such as a merger, stock-split or stock dividend.
Exercise price of warrant	$0.75
Term of warrant	3 years