University of the Rockies succesfully transfers a substantial presence
From BPI's March 5th SEC Filing:
"On March 5, 2013, University of the Rockies announced that in a letter dated February 28, 2013, its accreditor, the Higher Learning Commission of the North Central Association of Schools and Colleges, or HLC, informed the University that it has affirmed the institution has transferred a substantial presence of business and administrative personnel and operations to HLC's north central region and no further Commission follow-up is required. In its letter, HLC also informed the University of its approval of an additional University of the Rockies instructional location in Denver, Colorado."
Looks like Ashford will also have no problem with the "substantial presence" requirement. Slowly but surely, BPI is satisfying the demands of HLC and will not lose accreditation. It's just a matter of maintaining profitability and BPI stock will recover nicely. Last quarter BPI was still adding students so it will be interesting to get an update at BPI's earning announcement on Tuesday, March 12th. The additional University of the Rockies location will provide additional revenue some time in the future. This expansion (and additional expansions) should help maintain currently high profitability levels.