Thread regarding Corinthian Colleges Inc. layoffs

Estimated income stream: Viable seats sold count, loans in reasonable standing, less graduation rate and plus new admissions (20% discount rate not yet applied). Estimated liabilities: bad debt at end of winter term, State AG win/loss scenarios, class action lawsuit scenarios, potential loss of accreditation due to noncompliance, fixed costs of employees and benefits.

Not sure what "pre-closing educational consents" means. Accreditation approval?

As previously disclosed, the Purchase Agreement contains certain termination rights by the Sellers or Purchaser if the acquisition is not consummated by January 5, 2015 (the “Outside Date”).

On January 5, 2015, Purchaser and the Company executed an amendment to the Purchase Agreement in order to extend the Outside Date to February 5, 2015.

As previously disclosed, the Purchase Agreement provides for the option of Purchaser to consummate the acquisition by means of multiple closings to the extent applicable pre-closing educational consents have not been obtained for 10 or fewer of the schools to be acquired by Purchaser, provided that such remaining consents are obtained within 90 days after the initial closing. The parties currently expect to conduct an initial closing on January 12, 2015, which closing will include a substantial majority of the schools covered by the Purchase Agreement, subject to the satisfaction of conditions to closing, which satisfaction may be subject to some uncertainty. The parties anticipate conducting a second closing after the remaining pre-closing educational consents have been obtained for the remaining schools.