13956- Exactly! Just enough cash to get to the next agreement or one week. The next agreement will likely be more specific about the schools. Since CCi must announce the closing of schools to the students, it's going to be public record.
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Well, the agreement seems to be to get a more detailed agreement by July 1st which is one week away, so obviously the $16M was designed to keep the company open for another week until then. From there there will be new funding changes so that the company can last long enough to teach out and close, sell schools, and so forth.
The only number I gave was $16M, and that's in the public announcement from ED. We also know that CCi only has enough cash for about a week (again public announcement).
Going away party?
I'm not doubting that's true (scary, but certainly plausible), but where are you getting the numbers? Are they publicly available or do you have personal knowledge? Thanks for sharing!