Raj Academy

“The educational services provided to our members and students require that our teachers and staff travel to different states at least three to four times a year. Hence there are travel expenses of airfare, car rental, lodging, food and other related expenses incurred by the academy. We also provide online learning platform, process online payments, and maintain an active digital presence online, which adds to our IT and web-hosting related expenses.”

“There is a significant change in our net assets and balances since the beginning of the year. This is because we have accounted for and made adjustments of earlier years' activity for uncollectible pledges to Matharu Estates. There was an initial investment of $814,000 investment made to design, create, and operationalize the program for students in the USA. From there on, a 40% of recurring revenue from the course fee is dedicated to reimbursing the original loan and ongoing support from Matharu Estates, which is reflected in all of our accounting statements as of calendar year 2015.”

“Matharu Estates had made an initial investment of $815,000 to create and operationalize the learning program taught by the institute. A 40% of all revenue from the course taught is allocated to reimburse the initial investment and their its ongoing investments. Raj Academy does not have funds at the moment for reimbursement, we are keeping an accurate account of the liabilities in our books for now until such time that the debt can be repaid.”