Here's a link to a PDF of the 3rd quarter filing: http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=11794774
The long-term loan got classified as current because of a loan covenant that was violated when they had to book so much deferred revenue (which also had to be placed on the list of current liabilities). This is described in the 10-Q:
Now that this surge in holiday buying has been shipped, the revenue is no longer deferred, so that will be removed from liabilities. And this will bring them back to being in compliance on debt to equity, so that the loan will go back to being long-term on their balance sheet.
Here are some other relevant parts from my reading of the conference call transcript:
http://seekingalpha.com/article/4040766-educational-development-corps-educ-ceo-randall-white-q3-2016-results-earnings-call-transcript?part=single
I am obviously NOT an investment advisor.
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