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fish meal Cowboys star G Zack Martin doubtful to play vs. CommandersThe 30-24 victory over the Atlanta Falcons was enough to earn a wildcard berth for the Commanders. The Washington Commanders secured a play-off spot after beating the Atlanta Falcons 30-24 in overtime. Rookie quarterback Jayden Daniels rushed for 127 yards, throwing for another 227 and for three touchdowns, including the game-winning touchdown pass to Zach Ertz. The Commanders staged a dramatic comeback from a 10-point deficit at half-time, sending them to the play-offs for the first time in four years. The win was enough to give the Los Angeles Rams the NFC West title as it ended the Seattle Seahawks hopes ahead of their meeting in the final week of the season. The Falcons need other results to go their way along with a win over the Carolina Panthers in their final game. Saquon Barkley became the ninth running back in NFL history to rush for 2,000 yards in a single season as the Philadelphia Eagles clinched the NFC East title with a victory over the Dallas Cowboys. The 27-year-old achieved the feat with a 23-yard run during the fourth quarter of the Eagles’ crushing 41-7 success at Lincoln Financial Field. Barkley is 100 yards short of Eric Dickerson’s record of 2,105 yards, set in 1984 for the Los Angeles Rams, ahead of next week’s regular season finale against the New York Giants. However, he could be rested for that game in order to protect him from injury ahead of the play-offs. The Minnesota Vikings scored their ninth consecutive win after hanging on to beat the Green Bay Packers 27-25. Sam Darnold threw touchdowns to Cam Akers, Jordan Addison and Jalen Nailer, pushing his total for the season to 35. The victory set up a final-week showdown with the Detroit Lions for both the division title and top seed in the NFC. The Miami Dolphins kept themselves in the play-off race with a 20-3 victory over the Cleveland Browns. With Dolphins’ quarterback Tua Tagovailoa out with a hip injury, replacement Tyler Huntly threw for 225 yards and a touchdown. Miami will need to beat the New York Jets and hope the Denver Broncos lose to the Kansas City Chiefs to clinch the final AFC wildcard berth. The Tampa Bay Buccaneers kept alive their dreams of reaching the play-offs by overcoming the Carolina Panthers 48-14. Veteran quarterback Baker Mayfield produced a dominant performance at Raymond James Stadium, registering five passing touchdowns to equal a Buccaneers franchise record. The Buffalo Bills clinched the AFC conference number two seed for the post season with a 40-14 success over the New York Jets at Highmark Stadium. Josh Allen passed for 182 yards and two touchdowns, while rushing for another. Buffalo finish the 2024 regular season undefeated at home, with eight wins from as many games. The Indianapolis Colts’ hopes of reaching the play-offs were ended by a 45-33 defeat to the Giants. Malik Nabers exploded for 171 yards and two touchdowns and Ihmir Smith-Marsette broke a 100-yard kick-off return to give the Giants their highest-scoring output under head coach Brian Daboll. Quarterback Drew Lock threw four touchdown passes and accounted for a fifth on the ground to seal the win. Elsewhere, Mac Jones threw two touchdowns to help the Jacksonville Jaguars defeat the Tennessee Titans 20-13, while the Las Vegas Raiders beat the New Orleans Saints 25-10.

Q2 Fiscal 2025 Highlights Reports revenue of $11.5 Million Gross margin increased to 71% from 63% Net loss of $(4.2) million reflects $(4.9) million one-time non-cash lease related impairment charges for right-of-use assets and tenant leasehold improvements Adjusted EBITDA improved by 42% year-over-year due to continued cost controls PHOENIX, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Aspen Group, Inc. (OTC Markets: ASPU) ("AGI" or the "Company"), an education technology holding company, today announced financial results for its second quarter fiscal year 2025 ended October 31, 2024. Second Quarter Fiscal Year 2025 Summary Results Three Months Ended October 31, Six Months Ended October 31, $ in millions, except per share data 2024 2023 2024 2023 Revenue $ 11.5 $ 13.8 $ 22.8 $ 28.5 Gross Profit 1 $ 8.1 $ 8.7 $ 15.6 $ 18.5 Gross Margin (%) 1 71 % 63 % 69 % 65 % Operating Income (Loss) $ (4.8 ) $ (0.5 ) $ (5.5 ) $ (0.2 ) Net Income (Loss) Available to Common Stockholders 2 $ (4.2 ) $ (1.6 ) $ (4.4 ) $ (2.3 ) Earnings (Loss) per Share Available to Common Stockholders $ (0.16 ) $ (0.06 ) $ (0.17 ) $ (0.09 ) EBITDA 3 $ (3.0 ) $ 0.4 $ (1.9 ) $ 1.8 Adjusted EBITDA 3 $ 1.5 $ 1.1 $ 2.0 $ 3.0 _______________________ 1 GAAP gross profit calculation includes marketing and promotional costs, instructional costs and services, and amortization expense of $0.5 million and $0.5 million, and $0.9 million and $1.0 million for the three and six months ended October 31, 2024 and 2023, respectively. 2 Net income (loss) in fiscal Q2 2025 and year-to-date fiscal 2025 includes a noncash impairment charge of $(4.9) million. Additionally, fiscal Q2 2025 and year-to-date fiscal 2025 contain a non-cash gain of $1.1 million and $1.9 million, respectively, related to the change in the fair value of put warrant liability. See further explanation on page 2. 3 Non-GAAP financial measures. See reconciliations of GAAP to non-GAAP financial measures under "Non-GAAP – Financial Measures" starting on page 5. "We made significant strides toward stabilizing our revenue in the second quarter of fiscal 2025 while achieving positive cash flow through disciplined cost management," said Michael Mathews, Chairman and CEO of AGI. "Despite maintaining a disciplined marketing spend, we achieved notable improvements in our financial performance, particularly gross margin. Our gross margin expanded primarily due to the lower instructional costs from completing the AU Pre-licensure BSN program teach-out and increased efficiencies in USU's instructional operations. Additionally, restructuring efforts reduced general and administrative expenses by 14% year-over-year. While our net loss was impacted by a one-time, noncash leasehold impairment charge, the lower instructional costs and expense reduction initiatives in the second quarter collectively drove a 42% year-over-year improvement in Adjusted EBITDA for the quarter and delivered modest year-to-date positive cash from operations." Mr. Mathews concluded, "As of the filing of our quarterly report for the first quarter fiscal year 2025 with OTC Market, AGI is now fully compliant with the QB listing requirements. We have recently begun the process to resume trading on the OTCQB." Fiscal Q2 2025 Financial and Operational Results (compared to Fiscal Q2 2024) Revenue decreased by 17% to $11.5 million compared to $13.8 million. The following table presents the Company's revenue, both per-subsidiary and total: Three Months Ended October 31, 2024 $ Change % Change 2023 AU $ 4,773,693 $ (2,519,431 ) (35)% $ 7,293,124 USU 6,686,086 150,363 2% 6,535,723 Revenue $ 11,459,779 $ (2,369,068 ) (17)% $ 13,828,847 Aspen University's ("AU") revenue decline of $2.5 million, or 35%, reflects the completion of the teach-out of the pre-licensure program and lower post-licensure enrollments in prior quarters as a result of the decrease in marketing spend initiated in late Fiscal Q1 2023. The active student body at AU decreased by 33% year-over-year to 3,827 at October 31, 2024 from 5,679 at October 31, 2023. United States University ("USU") revenue was up 2% compared to the prior period. MSN-FNP program enrollments decreased in the quarter due to lower marketing spend initiated in late Fiscal Q1 2023. Lower enrollments were offset by higher revenue per student driven by more students entering their second year of the MSN-FNP program, which includes clinical rotations, and by tuition increases. The active student body at USU decreased by 6% to 2,560 at October 31, 2024 from 2,733 at October 31, 2023. GAAP gross profit decreased 7% to $8.1 million compared to $8.7 million primarily due to the overall student body decrease of 24%. Gross margin was 71% compared to 63%. AU's gross margin was 67% versus 61%, and USU's gross margin was 74% versus 67%. The increase in gross margin is the result of lower instructional costs from completing the AU Pre-licensure BSN program teach-out, increased efficiencies in USU's instructional operations and lower marketing spend. AU instructional costs and services represented 26% of AU revenue, and USU instructional costs and services represented 23% of USU revenue. AU marketing and promotional costs represented 1% of AU revenue, and USU marketing and promotional costs represented 1% of USU revenue. In Fiscal Q2 2025 and year-to-date Fiscal 2025, our bottom line was materially impacted by a $4.9 million non-cash right-of-use assets and tenant leasehold improvements impairment charge. The charge is the result of the fact that AU is no longer able to utilize space for BSN Pre-licensure operations due to the completion of the teach-out. The charge represents the entirety of the remaining impairment exposure due to the teach-out. The impact of the charge to our operating expenses, net loss and EBITDA is presented in the following table: Three Months Ended October 31, Six Months Ended October 31, 2024 $ Change % Change 2023 2024 $ Change % Change 2023 Impairments of right-of-use assets and tenant leasehold improvements $ 4,937,154 $ 4,937,154 NM $ — $ 4,937,154 $ 4,937,154 NM $ — _____________________ NM – Not meaningful The following tables present the Company's net income (loss), both per subsidiary and total: Three Months Ended October 31, 2024 Consolidated AGI Corporate AU USU Net income (loss) available to common stockholders $ (4,153,422 ) $ (935,442 ) $ (5,350,264 ) $ 2,132,284 Net loss per share available to common stockholders $ (0.16 ) Three Months Ended October 31, 2023 Consolidated AGI Corporate AU USU Net income (loss) available to common stockholders $ (1,611,813 ) $ (3,807,821 ) $ 581,707 $ 1,614,301 Net loss per share available to common stockholders $ (0.06 ) The following tables present the Company's Non-GAAP Financial Measures, both per subsidiary and total. See reconciliations of GAAP to non-GAAP financial measures under "Non-GAAP – Financial Measures" starting on page 5. Three Months Ended October 31, 2024 Consolidated AGI Corporate AU USU EBITDA $(2,962,755) $(496,585) $(4,747,931) $2,281,761 EBITDA Margin (26)% NM (99)% 34% Adjusted EBITDA $1,549,020 $(1,478,554) $515,798 $2,511,776 Adjusted EBITDA Margin 14% NM 11% 38% Three Months Ended October 31, 2023 Consolidated AGI Corporate AU USU EBITDA $419,073 $(2,680,982) $1,339,102 $1,760,953 EBITDA Margin 3% NM 18% 27% Adjusted EBITDA $1,087,205 $(2,487,843) $1,585,674 $1,989,374 Adjusted EBITDA Margin 8% NM 22% 30% Adjusted EBITDA improved by $0.5 million due to the reduction in instructional costs and services related to the teach-out of the pre-licensure program, increased instructional efficiencies at USU and a decrease in general and administrative costs attributed to our restructurings. Operating Metrics New Student Enrollments Total enrollments for AGI decreased 30% from Fiscal Q2 2024 but increased 15% sequentially, despite the reduction in internet advertising spend across all programs to maintenance levels. The sequential increase in enrollments reflected an unusually strong month of August as prospective students enrolled prior to an annual tuition increase which took effect in September 2024. New student enrollments at AU decreased 37% year-over-year and at USU decreased 19% year-over-year. The new student enrollment decrease year-over-year was primarily impacted by our reduction in marketing spend. We anticipate the resumption of marketing spend in late Fiscal 2025 at a level necessary to provide enrollments needed to grow the student body and allow for the generation of positive operating cash flow. New student enrollments for the past five quarters are shown below: Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Aspen University 808 473 427 413 508 USU 548 325 370 410 442 Total 1,356 798 797 823 950 Total Active Student Body AGI's active degree-seeking student body, including AU and USU, declined 24% year-over-year to 6,387 at October 31, 2024 from 8,412 at October 31, 2023. AU's total active student body decreased by 33% year-over-year to 3,827 at October 31, 2024 from 5,679 at October 31, 2023. On a year-over-year basis, USU's total active student body decreased by 6% to 2,560 at October 31, 2024 from 2,733 at October 31, 2023. Total active student body for the past five quarters is shown below: Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Aspen University 5,679 5,146 4,559 4,145 3,827 USU 2,733 2,503 2,489 2,477 2,560 Total 8,412 7,649 7,048 6,622 6,387 Nursing Students Nursing student body for the past five quarters is shown below . Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Aspen University 4,470 4,032 3,526 3,198 2,948 USU 2,432 2,270 2,262 2,254 2,300 Total 6,902 6,302 5,788 5,452 5,248 Liquidity The Fiscal Q2 2025 ending unrestricted cash balance was $0.8 million. The following three factors will help us continue to stabilize operating cash flow in the second half of Fiscal 2025. First, effective August 16, 2024, AU transitioned from the Heightened Cash Monitoring 2 (HCM2) to the Heightened Cash Monitoring 1 (HCM1) method of receiving student financial aid payments from the U.S Department of Education. This transition allows AU to disburse student financial aid using institutional funds and immediately draw down reimbursement by submitting disbursement records, eliminating payment delays and resulting in more consistent unrestricted cash balances. Second, we renegotiated the 15% Senior Secured Debentures in November 2024, reducing ongoing principal payments and changing the timing of principal payments from monthly to quarterly. Finally, the Company initiated a fourth restructuring late in the fourth quarter of calendar 2024, projected to reduce annual operating expenses by over $1.5 million. Cost reductions associated with the four restructuring plans and other corporate cost reductions were implemented to ensure that the company will have sufficient cash to meet its working capital needs for the next 12 months. Non-GAAP – Financial Measures This press release includes both financial measures in accordance with Generally Accepted Accounting Principles, or GAAP, as well as non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures should be viewed as supplemental to, and should not be considered as alternatives to net income (loss), operating income (loss), and cash flow from operating activities, liquidity or any other financial measures. They may not be indicative of the historical operating results of AGI nor are they intended to be predictive of potential future results. Investors should not consider non-GAAP financial measures in isolation or as substitutes for performance measures calculated in accordance with GAAP. Our management uses and relies on EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin, which are non-GAAP financial measures. We believe that management, analysts, and shareholders benefit from referring to the following non-GAAP financial measures to evaluate and assess our core operating results from period-to-period after removing the impact of items that affect comparability. Our management recognizes that the non-GAAP financial measures have inherent limitations because of the excluded items described below. We have included a reconciliation of our non-GAAP financial measures to the most comparable financial measures calculated in accordance with GAAP. We believe that providing the non-GAAP financial measures, together with the reconciliation to GAAP, helps investors make comparisons between AGI and other companies. In making any comparisons to other companies, investors need to be aware that companies use different non-GAAP measures to evaluate their financial performance. Investors should pay close attention to the specific definition being used and to the reconciliation between such measure and the corresponding GAAP measure provided by each. AGI defines Adjusted EBITDA as EBITDA excluding: (1) bad debt expense; (2) stock-based compensation; (3) severance; (4) impairments of right-of-use assets and tenant leasehold improvements and (5) non-recurring (income) charges. The following table presents a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA and of net income (loss) margin to the Adjusted EBITDA margin: Three Months Ended October 31, 2024 2023 Net loss $ (4,146,365 ) $ (1,611,813 ) Interest expense, net 342,490 1,040,720 Taxes 46,225 40,076 Depreciation and amortization 794,895 950,090 EBITDA (2,962,755 ) 419,073 Bad debt expense 450,000 450,000 Stock-based compensation 98,245 218,132 Severance 35,522 — Impairments of right-of-use assets and tenant leasehold improvements 4,937,154 — Non-recurring income - Other (1,009,146 ) — Adjusted EBITDA $ 1,549,020 $ 1,087,205 Net income / loss Margin (36 )% (12 )% Adjusted EBITDA Margin 14 % 8 % The following tables present a reconciliation of Net income (loss) to EBITDA and Adjusted EBITDA and of Net income (loss) margin to the Adjusted EBITDA margin by business unit: Three Months Ended October 31, 2024 Consolidated AGI Corporate AU USU Net income (loss) $ (4,146,365 ) $ (928,386 ) $ (5,350,264 ) $ 2,132,285 Interest expense, net 342,490 342,490 — — Taxes 46,225 15,479 25,900 4,846 Depreciation and amortization 794,895 73,832 576,433 144,630 EBITDA (2,962,755 ) (496,585 ) (4,747,931 ) 2,281,761 Bad debt expense 450,000 — 225,000 225,000 Stock-based compensation 98,245 94,819 1,954 1,472 Severance 35,522 8,357 23,622 3,543 Impairments of right-of-use assets and tenant leasehold improvements 4,937,154 — 4,937,154 — Non-recurring (income) charges - Other (1,009,146 ) (1,085,145 ) 75,999 — Adjusted EBITDA $ 1,549,020 $ (1,478,554 ) $ 515,798 $ 2,511,776 Net income (loss) Margin (36)% NM (112)% 32 % Adjusted EBITDA Margin 14 % NM 11 % 38 % ___________________ NM – Not meaningful Three Months Ended October 31, 2023 Consolidated AGI Corporate AU USU Net income (loss) $ (1,611,813 ) $ (3,807,821 ) $ 581,707 $ 1,614,301 Interest expense, net 1,040,720 1,040,720 — — Taxes 40,076 7,997 18,601 13,478 Depreciation and amortization 950,090 78,122 738,794 133,174 EBITDA 419,073 (2,680,982 ) 1,339,102 1,760,953 Bad debt expense 450,000 — 225,000 225,000 Stock-based compensation 218,132 193,139 21,572 3,421 Adjusted EBITDA $ 1,087,205 $ (2,487,843 ) $ 1,585,674 $ 1,989,374 Net income (loss) Margin (12)% NM 8 % 25 % Adjusted EBITDA Margin 8 % NM 22 % 30 % Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including the impact of our operating and debt restructurings, results of our resumption of marketing spend, and our liquidity. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ materially from these forward-looking statements include, without limitation, the impact from our fourth restructuring plan, the effectiveness of our future marketing, our ability to sublease our remaining leases other than our executive offices and necessary space used by AU and USU, the continued high demand for nurses for our new programs and in general, student attrition, national and local economic factors including the labor market shortages, and competition from other online universities including the competitive impact from the trend of major non-profit universities using online education. . We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise. About Aspen Group, Inc. Aspen Group, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, Aspen University and United States University, to deliver on the vision of making college affordable again. Investor Relations Contact Kim Rogers Managing Director Hayden IR 385-831-7337 Kim@HaydenIR.com GAAP Financial Statements ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS October 31, 2024 April 30, 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 827,780 $ 1,531,425 Restricted cash 338,002 1,088,002 Accounts receivable, net of allowance of $5,436,207 and $4,560,378, respectively 18,463,099 19,686,527 Prepaid expenses 674,081 502,751 Other current assets 986,357 1,785,621 Total current assets 21,289,319 24,594,326 Property and equipment: Computer equipment and hardware 888,566 886,152 Furniture and fixtures 1,974,271 1,974,271 Leasehold improvements 4,594,239 6,553,314 Instructional equipment 529,299 529,299 Software 9,347,651 8,784,996 17,334,026 18,728,032 Less: accumulated depreciation and amortization (10,348,986 ) (9,542,520 ) Total property and equipment, net 6,985,040 9,185,512 Goodwill 5,011,432 5,011,432 Intangible assets, net 7,900,000 7,900,000 Courseware and accreditation, net 333,120 363,975 Long-term contractual accounts receivable 18,619,202 17,533,030 Operating lease right-of-use assets, net 5,512,553 10,639,838 Deposits and other assets 693,193 718,888 Total assets $ 66,343,859 $ 75,947,001 ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (CONTINUED) October 31, 2024 April 30, 2024 (Unaudited) Liabilities and Stockholders' Equity Liabilities: Current liabilities: Accounts payable $ 1,238,506 $ 2,311,360 Accrued expenses 3,311,273 2,880,478 Advances on tuition 2,166,683 2,030,501 Deferred tuition 3,780,213 4,881,546 Due to students 2,293,614 2,558,492 Current portion of long-term debt 2,000,000 2,284,264 Operating lease obligations, current portion 2,498,289 2,608,534 Other current liabilities 511,449 86,495 Total current liabilities 17,800,027 19,641,670 Long-term debt, net 6,184,328 6,776,506 Operating lease obligations, less current portion 13,760,114 14,999,687 Put warrants liabilities 58,461 1,964,593 Other long-term liabilities 287,930 287,930 Total liabilities 38,090,860 43,670,386 Commitments and contingencies Stockholders' equity: Preferred stock, $0.001 par value; 1,000,000 shares authorized, 10,000 issued and 10,000 outstanding at October 31, 2024 and April 30, 2024 10 10 Common stock, $0.001 par value; 85,000 shares authorized, 26,959,681 issued and 26,959,681 outstanding at October 31, 2024 25,701,603 issued and 25,701,603 outstanding at April 30, 2024 26,960 25,702 Additional paid-in capital 122,170,403 121,921,048 Accumulated deficit (93,944,374 ) (89,670,145 ) Total stockholders' equity 28,252,999 32,276,615 Total liabilities and stockholders' equity $ 66,343,859 $ 75,947,001 ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended October 31, Six Months Ended October 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue $ 11,459,779 $ 13,828,847 $ 22,788,616 $ 28,468,719 Operating expenses: Cost of revenue (exclusive of depreciation and amortization shown separately below) 2,885,895 4,584,193 6,233,120 8,977,048 General and administrative 7,237,555 8,371,546 14,564,889 16,842,424 Impairments of right-of-use assets and tenant leasehold improvements 4,937,154 — 4,937,154 — Bad debt expense 450,000 450,000 900,000 900,000 Depreciation and amortization 794,895 950,090 1,614,899 1,913,302 Total operating expenses 16,305,499 14,355,829 28,250,062 28,632,774 Operating loss (4,845,720 ) (526,982 ) (5,461,446 ) (164,055 ) Other income (expense): Interest expense (342,490 ) (1,040,720 ) (689,660 ) (1,977,201 ) Change in fair value of put warrant liability 1,085,145 — 1,906,132 — Other income (expense), net 2,925 (4,035 ) 16,762 14,252 Total other income (expense), net 745,580 (1,044,755 ) 1,233,234 (1,962,949 ) Loss before income taxes (4,100,140 ) (1,571,737 ) (4,228,212 ) (2,127,004 ) Income tax expense 46,225 40,076 46,017 124,247 Net loss (4,146,365 ) (1,611,813 ) (4,274,229 ) (2,251,251 ) Dividends attributable to preferred stock (7,057 ) — (148,209 ) — Net loss available to common stockholders $ (4,153,422 ) $ (1,611,813 ) $ (4,422,438 ) $ (2,251,251 ) Net loss per share - basic and diluted available to common stockholders $ (0.16 ) $ (0.06 ) $ (0.17 ) $ (0.09 ) Weighted average number of common stock outstanding - basic and diluted 26,692,457 25,548,046 26,308,766 25,557,646 ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended October 31, 2024 2023 (Unaudited) (Unaudited) Cash flows from operating activities: Net loss $ (4,274,229 ) $ (2,251,251 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Bad debt expense 900,000 900,000 Depreciation and amortization 1,614,899 1,913,302 Stock-based compensation 190,836 305,581 Change in fair value of put warrant liability (1,906,132 ) — Amortization of warrant-based cost 7,000 14,000 Amortization of debt issuance costs — 156,020 Amortization of debt discounts — 193,020 Non-cash lease benefit 107,696 (399,201 ) Impairments of right-of-use assets and tenant leasehold improvements 4,937,154 — Changes in operating assets and liabilities: Accounts receivable (762,744 ) (5,763,185 ) Prepaid expenses (171,330 ) (19,140 ) Other current assets 799,264 (1,852,817 ) Deposits and other assets 25,695 (384,030 ) Accounts payable (1,072,854 ) 665,283 Accrued expenses 430,795 565,915 Due to students (264,878 ) (89,095 ) Advances on tuition and deferred tuition (965,151 ) 1,272,532 Other current liabilities 424,954 578,940 Net cash provided by (used in) operating activities 20,975 (4,194,126 ) Cash flows from investing activities: Purchases of courseware and accreditation (33,110 ) (120,863 ) Purchases of property and equipment (565,068 ) (558,565 ) Net cash used in investing activities (598,178 ) (679,428 ) Cash flows from financing activities: Repayment of portion of 15% Senior Secured Debentures (721,066 ) (100,000 ) Proceeds from 15% Senior Secured Debentures, net of original issuance discount and fees — 10,451,080 Repayment of 2018 Credit Facility — (5,000,000 ) Payments of debt issuance costs (155,376 ) (195,661 ) Net cash (used in) provided by financing activities (876,442 ) 5,155,419 ASPEN GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) (Unaudited) Six Months Ended October 31, 2024 2023 (Unaudited) (Unaudited) Net (decrease) increase in cash, cash equivalents and restricted cash $ (1,453,645 ) $ 281,865 Cash, cash equivalents and restricted cash at beginning of period 2,619,427 5,724,467 Cash, cash equivalents and restricted cash at end of period $ 1,165,782 $ 6,006,332 Supplemental disclosure of cash flow information: Cash paid for interest $ 689,660 $ 1,639,701 Cash paid for income taxes $ 46,017 $ 24,525 Supplemental disclosure of non-cash investing and financing activities: Accrued dividends $ 148,209 $ — Relative fair value of warrants issued as part of the 15% Senior Secured Debentures $ — 154,000 The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying consolidated balance sheet to the total amounts shown in the accompanying unaudited consolidated statements of cash flows: October 31, 2024 2023 (Unaudited) (Unaudited) Cash and cash equivalents $ 827,780 $ 1,906,332 Restricted cash 338,002 4,100,000 Total cash, cash equivalents and restricted cash $ 1,165,782 $ 6,006,332 © 2024 Benzinga.com. 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Kuwait City: In a special gesture, Kuwait’s Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah came to see off PM Modi at the airport Sunday evening as he wrapped up his historic two-day visit to the West Asian country and left for India. “Thank you Kuwait! This visit was historic and will greatly enhance our bilateral relations. I thank the Government and people of Kuwait for their warmth. I also thank the PM of Kuwait for the special gesture of coming to the airport for the see-off,” PM Modi posted on X just before his departure. Earlier in the day, Prime Minister Modi held back-to-back meetings with the country’s Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah besides holding bilateral discussions with the country’s PM Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah. “Held fruitful discussions with HH Sheikh Ahmed Abdullah Al-Ahmed Al-Sabah, the Prime Minister of Kuwait. Our talks covered the full range of India-Kuwait relations, including trade, commerce, people-to-people ties and more. Key MoUs and Agreements were also exchanged, which will add strength to bilateral relations,” said PM Modi. According to the Prime Minister’s Office, the two leaders discussed a roadmap to strengthen the strategic partnership in areas including political, trade, investment, energy, defence, security, health, education, technology, cultural, and people-to-people ties. “They emphasised on deepening economic cooperation between the two countries. The Prime Minister invited a delegation comprising the Kuwaiti Investment Authority and other stakeholders to visit India to look at new opportunities in the fields of energy, defence, medical devices, pharma, food parks, among others. The leaders also discussed cooperation in traditional medicine and agricultural research,” read a statement issued by the PMO after the meeting. “They welcomed the recent signing of the Joint Commission for Cooperation (JCC) under which new Joint Working Groups in the areas of trade, investment, education, technology, agriculture, security and culture have been set up in addition to the existing JWGs on Health, Manpower and Hydrocarbons,” it added. Both leaders also witnessed the signing and exchange of bilateral agreements and MoUs after the talks. It included an MoU on defence cooperation, cultural exchange programme, an executive programme on cooperation in the field of sports and the framework agreement on Kuwait joining the International Solar Alliance. In what was the first meeting between the two leaders, Prime Minister Modi met and the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah held discussions at the Bayan Palace and re-affirmed their full commitment to further expand and deepen bilateral cooperation while agreeing to elevate the bilateral relationship to a strategic partnership. The leaders recalled the strong historical and friendly ties between the two countries with PM Modi thanking the Amir for ensuring the well-being of over one million strong Indian community in Kuwait. The Amir also expressed appreciation for the contribution of the large and vibrant Indian community in Kuwait’s development. “Excellent meeting with His Highness the Emir of the State of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. We discussed cooperation in key sectors such as pharmaceuticals, IT, fintech, infrastructure and security. In line with the close relations between our two countries, we have elevated our partnership to a strategic level and I am optimistic that our friendship will flourish further in the future,” the Prime Minister said. The PM appreciated the new initiatives being undertaken by Kuwait to fulfill its Vision 2035 and congratulated the Amir for successfully holding the GCC Summit earlier this month. Reciprocating Prime Minister’s sentiments, the Amir expressed appreciation for India’s role as a valued partner in Kuwait and the Gulf region and looked forward to greater role and contribution of India towards realisation of Kuwait Vision 2035. The Amir of Kuwait also conferred upon Prime Minister Modi ‘The Order of Mubarak Al-Kabeer’, the highest national award of Kuwait. PM Modi dedicated the award to the long-standing friendship between India and Kuwait, to the Indian community in Kuwait and to the 1.4 billion people of India. According to the Ministry of External Affairs (MEA), the conferment of the award – instituted in 1974 and conferred only on select global leaders – on the historic visit of a Prime Minister of India to Kuwait after 43 years added a “special meaning” to the occasion. PM Modi also met with Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, the Crown Prince of the State of Kuwait. Both leaders had also met on the margins of the UNGA session in September, earlier this year. “Prime Minister conveyed that India attaches utmost importance to its bilateral relations with Kuwait. The leaders acknowledged that bilateral relations were progressing well and welcomed their elevation to a Strategic Partnership. They emphasised on close coordination between both sides in the UN and other multilateral fora. The Prime Minister expressed confidence that India-GCC relations will be further strengthened under the Presidency of Kuwait,” said PM Modi.Down 44%, This AI Stock Is a Screaming Buy Right Now (Hint: It's Not Nvidia)

Smokers have been urged to kick the habit in the new year after new analysis shows how much of their lives are lost by each cigarette smoked. Men lose 17 minutes of life with every cigarette they smoke while a woman’s life is cut short by 22 minutes with each cigarette, experts have estimated. This is more than previous estimates, which suggest that each cigarette shortens a smoker’s life by 11 minutes. The new estimates, which suggest that each cigarette leads to 20 minutes loss of live on average across both genders, are based on more up-to-date figures from long-term studies tracking the health of the population. Researchers from University College London said that the harm caused by smoking is “cumulative” and the sooner a person stops smoking, and the more cigarettes they avoid smoking, the longer they live. The new analysis, commissioned by the Department for Health and Social Care, suggests that if a 10-cigarettes-a-day smoker quits on January 1, then by January 8 they could “prevent loss of a full day of life”. By February 20, their lives could be extended by a whole week. And if their quitting is successful until August 5, they will likely live for a whole month longer than if they had continued to smoke. The authors added: “Studies suggest that smokers typically lose about the same number of healthy years as they do total years of life. Make 2025 the year you quit smoking for good. There’s lots of free support available to help you. Find out more 🔽 — WHH 🏥 (@WHHNHS) “Thus smoking primarily eats into the relatively healthy middle years rather than shortening the period at the end of life, which is often marked by chronic illness or disability. “So a 60-year-old smoker will typically have the health profile of a 70-year-old non-smoker.” The analysis, to be published in the Journal of Addiction, concludes: “We estimate that on average, smokers in Britain who do not quit lose approximately 20 minutes of life expectancy for each cigarette they smoke. “This is time that would likely be spent in relatively good health. “Stopping smoking at every age is beneficial but the sooner smokers get off this escalator of death the longer and healthier they can expect their lives to be.” Dr Sarah Jackson, principal research fellow from the UCL Alcohol and Tobacco Research Group, said: “It is vital that people understand just how harmful smoking is and how much quitting can improve their health and life expectancy. “The evidence suggests people lose, on average, around 20 minutes of life for each cigarette they smoke. “The sooner a person stops smoking, the longer they live. “Quitting at any age substantially improves health and the benefits start almost immediately. “It’s never too late to make a positive change for your health and there are a range of effective products and treatments that can help smokers quit for good.” There are so many reasons to quit smoking this New Year – for your health, for more money, and for your family. Make a fresh quit for 2025 – find tips and support at or — North Tees and Hartlepool NHS Foundation Trust (@NTeesHpoolNHSFT) Health officials have said that smokers can find advice, support and resources with the NHS Quit Smoking app, as well as the online Personal Quit Plan. Public health minister Andrew Gwynne said: “Smoking is an expensive and deadly habit and these findings reveal the shocking reality of this addiction, highlighting how important it is to quit. “The new year offers a perfect chance for smokers to make a new resolution and take that step.” Commenting on the paper, Professor Sanjay Agrawal, special adviser on tobacco at the Royal College of Physicians, said: “Every cigarette smoked costs precious minutes of life, and the cumulative impact is devastating, not only for individuals but also for our healthcare system and economy. “This research is a powerful reminder of the urgent need to address cigarette smoking as the leading preventable cause of death and disease in the UK.”

Stock market today: Nasdaq hits a record as Wall Street drifts ahead of Federal Reserve's meeting