774517--6/18/2010--AMERICAN_LEARNING

related topics

{regulation, government, change}

{control, financial, internal}

{condition, economic, financial}

{competitive, industry, competition}

{acquisition, growth, future}

{tax, income, asset}

{personnel, key, retain}

{stock, price, share}

{customer, product, revenue}

We may not be able to comply with all applicable government regulations. We may not be able to achieve or maintain profitability. Reductions in funding for governmental programs could substantially reduce our ability to be profitable. Our efforts to expand our school staffing services may be impacted by opposition to the charter school movement. We may not be able to realize the benefits of our operating loss ( NOL ) carryforwards. The industry in which we operate is highly competitive and has relatively low barriers to entry. Increased competition could result in margin erosion and loss of market share. We are dependent on our professional staff and we need to hire and retain skilled personnel to sustain and grow our business. Our growth strategy assumes that we will make targeted strategic acquisitions. Our business is subject to the risk of customer concentration. Our operating results are materially impacted by the seasonality of our business. If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud. As a result, current and potential shareholders could lose confidence in our financial reporting, which could harm our business and the trading price of our shares. Our common stock could be delisted from the NASDAQ Capital Market.

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774517--6/18/2010--AMERICAN_LEARNING_Corp