# EDGAR Filing Document

**Accession Number:** 0001487198
**File Stem:** 0001553350-23-000142
**Filing Date:** 2023-2
**Character Count:** 7360
**Document Hash:** c2ed6d490b7dda5dbecc245815968c4f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001553350-23-000142.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001553350-23-000142

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230223

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ASPEN GROUP, INC.
- **CENTRAL INDEX KEY:** 0001487198
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EDUCATIONAL SERVICES [8200]
- **IRS NUMBER:** 271933597
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38175
- **FILM NUMBER:** 23666989

**BUSINESS ADDRESS:**
- **STREET 1:** 276 FIFTH AVENUE
- **STREET 2:** SUITE 505
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 646-448-5144

**MAIL ADDRESS:**
- **STREET 1:** 276 FIFTH AVENUE
- **STREET 2:** SUITE 505
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Elite Nutritional Brands, Inc.
- **DATE OF NAME CHANGE:** 20111011

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hidden Ladder, Inc.
- **DATE OF NAME CHANGE:** 20100315

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**______________**

**FORM 8-K**

**______________**

**CURRENT REPORT**

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): **February 23, 2023**

**ASPEN GROUP, INC.**

*(Exact name of registrant as specified in its charter)*

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38175** | **27-1933597** |
| *(State or Other Jurisdiction* | *(Commission* | *(I.R.S. Employer* |
| *of Incorporation)* | *File Number)* | *Identification No.)* |

---

**276 Fifth Avenue, Suite 505, New York, NY 10001**

*(Address of Principal Executive Office) (Zip Code)*

**(646) 448-5144**

*(Registrant's telephone number, including area code)*

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.001 par value | ASPU | The Nasdaq Stock Market<br> (The Nasdaq Global Market) |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 8.01 Other Information.**

On February 23, 2023, the Arizona State Board of Nursing issued a press release which is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K

**Item 9.01 Financial Statements and Exhibits.**

**(d) Exhibits**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
| **Exhibit**<br>**#** | <br>**Exhibit Description** | **Form** | **Date** | **Number** |
| 99.1 | [Press Release from Arizona State Board of Nursing dated February 23, 2023](aspu_ex99z1.htm) |  |  | Filed |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document |  |  |  |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ASPEN GROUP, INC.** | **ASPEN GROUP, INC.** |
| Date: February 24, 2023 | By: | /s/ Michael Mathews |
|  |  | Name: Michael Mathews |
|  |  | Title: Chief Executive Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

---

| | |
|:---|:---|
| **Katie Hobbs** | **Joey Ridenour** |
| Governor | Executive Director |

---

***Arizona State Board of Nursing***

*1740 West Adams Street, Suite 2000*

*Phoenix, AZ 85007-2657*

**Phone: (602) 771-7800** 

**Homepage: http://www.azbn.gov**

**PRESS RELEASE**

On February 23, 2023, the Arizona State Board of Nursing voted unanimously to notify Aspen University Bachelors of Science in Nursing (BSN) Program, located in Phoenix, Arizona, of its intent to terminate the "teach out" process and effectively close the program early.

Aspen University's BSN program previously agreed to a disciplinary probation of its nursing program Board-issued approval (license) in March, 2022, including suspension of new student admissions, due to of low pass rate of the national nurse exam (NCLEX) scores and other violations of law. However, while still under that probation period, there were additional violations of law and the requirements of the agreement, resulting in the program agreeing to voluntarily surrender its approval.

This second agreement with the Board provided the program with two years to complete a "teach out" of existing students, meaning that the existing students would be able to complete the program. The agreement also contained an option for the Board to terminate the agreement early if the program "fails to provide minimum instruction and learning opportunities, including clinical opportunities, to meet basic standards of educational practice and legal requirements," the Board may provide a minimum of 10-days' notice to Respondent, after which the Board may determine that the voluntary surrender is immediately in effect.

At the February 23, 2023, Board meeting, Board members expressed concerns regarding public safety and student safeness to practice on exit from the program, including concerns that Aspen BSN program was failing to provide minimum instructions as students were continuing to see a decline in not passing their NCLEX exam, which is a requirement for licensure in all 50 states, failing to meet basic standards of educational practice by inadequately ensuring the integrity and proctoring of exams, the program was improperly using students' work hours to count as clinical hours and counting clinical hours when the students were not in the facilities.

The Board will announce a second meeting date shortly. At that time, the Aspen BSN program's approval may be deemed surrendered immediately, which would effectively close the BSN program.

Emma Lehner Mamaluy

Chief Counsel

Arizona State Board of Nursing

1740 West Adams, Suite 2000

Phoenix, Arizona 85007

Direct Line: 480-319-0568