Aspen Group, INC.: management transactions · United States · SEC (Form 4)

About Aspen Group, INC.

Aspen Group, Inc. (ticker: ASPU) is a U.S.-based education technology holding company headquartered in Phoenix, Arizona, United States. The company is publicly traded on the OTCQB market, and it was previously listed on the Nasdaq. For international investors, Aspen Group is best understood as a niche higher-education platform with a strong healthcare and nursing angle rather than a traditional diversified university operator. Its long-term narrative has centered on making college more affordable and more accessible through online delivery. The group operates two universities: Aspen University and United States University. Its business model leverages digital infrastructure, online student acquisition, and degree programs tailored to working adults. Over time, Aspen Group has built its offering around healthcare-related education, especially nursing programs such as BSN pre-licensure and post-licensure pathways. That focus gives the company a specialized position in a competitive U.S. market that includes large for-profit education providers, online-first schools, and traditional institutions that continue to expand their digital footprint. From a competitive standpoint, Aspen Group’s strengths lie in affordability, flexibility, and career-oriented programs. Its target students are often adult learners who want a practical return on their education investment and need the convenience of online or hybrid study formats. The company’s geographic footprint is primarily domestic: its operations are concentrated in the United States, with student recruitment and program delivery designed to serve a national audience rather than a single campus region. In that sense, the business benefits from the scale of the U.S. healthcare labor market, where demand for nurses and related healthcare professionals remains an important structural driver. Recent developments indicate a company still in turnaround mode. In 2024 and 2025, Aspen Group worked through debt amendments, capital structure adjustments, and shareholder approval to increase authorized common shares. More recently, the company reported positive net income for fiscal 2025 and then highlighted a fourth consecutive quarter of net income for the third quarter of fiscal 2026, signaling improving profitability trends even though the balance sheet and liquidity profile remain key watch items. For investors, ASPU remains a higher-risk small-cap education name, where execution, student enrollment trends, cash generation, and financing discipline are central to the equity story.