<SUBMISSION>
<ACCESSION-NUMBER>0000950123-11-033220
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20110331
<ITEMS>1.01
<ITEMS>2.01
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20110406
<DATE-OF-FILING-DATE-CHANGE>20110406
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AMERICAN LEARNING Corp
<CIK>0000774517
<ASSIGNED-SIC>8300
<IRS-NUMBER>112601199
<STATE-OF-INCORPORATION>NY
<FISCAL-YEAR-END>0331
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-14807
<FILM-NUMBER>11742279
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>ONE JERICHO PLAZA
<CITY>JERICHO
<STATE>NY
<ZIP>11753
<PHONE>5169388000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>ONE JERICHO PLAZA
<CITY>JERICHO
<STATE>NY
<ZIP>11753
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>AMERICAN CLAIMS EVALUATION INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y04717e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported): April&nbsp;6, 2011 (March&nbsp;31, 2011)</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>American Learning Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">New York
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0-14807
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">11-2601199</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction <BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">One Jericho Plaza, Jericho, New York
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">11753</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: (516)&nbsp;938-8000</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">











<!-- link1 "Item&nbsp;1.01 Entry into a Material Definitive Agreement" -->
<DIV align="left"><A NAME="Y04717000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">See disclosure under Item&nbsp;2.01 below.
</DIV>

<!-- link1 "Item&nbsp;2.01 Completion of Acquisition or Disposition of Assets" -->
<DIV align="left"><A NAME="Y04717001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2.01 Completion of Acquisition or Disposition of Assets.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On March&nbsp;31, 2011, American Learning Corporation (the &#147;Company&#148;) completed the disposition of
certain assets of its wholly owned subsidiary, Interactive Therapy Group Consultants, Inc. (&#147;ITG&#148;),
pursuant to an Asset Purchase Agreement (the &#147;Agreement&#148;) among the Company, ITG, Liberty Resources
POST, LLC (&#147;Liberty&#148;) and John Torrens. In consideration of the purchase price provided for in the
Agreement, the Company sold certain assets related to ITG&#146;s business in the upstate region of New
York State. Total compensation to the Company, in the amount of $650,000, consisted of $200,000
in cash and a thirty-month note receivable in the amount of $450,000. At the closing, $25,000 of
the cash consideration was deposited into an escrow account subject to the assignment of a certain
contract to Liberty by the Company. In addition, the Company released John Torrens, ITG&#146;s former
President, from his non-competition agreement for a sum of $100,000 in cash. ITG will
continue to operate in the downstate area of New York State (New York City and Long Island).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The foregoing description of the Agreement does not purport to be complete and is qualified in its
entirety by reference to the full text of the Agreement which is filed as Exhibit&nbsp;10.21 hereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On April&nbsp;6, 2011, the Company issued a press release announcing the Agreement, a copy of which is
attached to this report as Exhibit&nbsp;99.1.
</DIV>

<!-- link1 "Item&nbsp;8.01 Other Events" -->
<DIV align="left"><A NAME="Y04717002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.01 Other Events.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On April&nbsp;6, 2011, the Company announced that it has signed a non-binding letter of intent to
acquire an 80% interest in an east coast company which provides educational and behavioral health
professionals that has reported revenues averaging over $30&nbsp;million per year over the last few
years. The Company will have the option to acquire the remaining 20% interest at a future date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The proposed acquisition would be accretive to the Company&#146;s earnings immediately. Payment for the
proposed acquisition is to be made by a combination of cash and notes payable at closing with an
additional sum based on future earnings. Current management in the company will continue in their
existing capacities. As is customary, the proposed acquisition is subject to due diligence and
consummation of a legally binding agreement.
</DIV>

<!-- link1 "Item&nbsp;9.01 Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="Y04717003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(c)&nbsp;Exhibits.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.21</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Asset Purchase Agreement by and among American Learning Corporation,
Interactive Therapy Group Consultants, Inc., Liberty Resources POST, LLC and John
Torrens dated March&nbsp;31, 2011.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Press Release of American Learning Corporation, dated April&nbsp;6, 2011.</TD>
</TR>



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>SIGNATURES</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date:      April 6, 2011&nbsp;</TD>
    <TD colspan="3" align="left">AMERICAN LEARNING CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Gary Gelman
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Gary Gelman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "EXHIBIT INDEX" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>EXHIBIT INDEX</U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;10.21
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Asset Purchase Agreement by and among American Learning Corporation, Interactive Therapy Group Consultants, Inc.,
Liberty Resources POST, LLC and John Torrens dated March&nbsp;31, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release of American Learning Corporation, dated April&nbsp;6, 2011.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>




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<DOCUMENT>
<TYPE>EX-10.21
<SEQUENCE>2
<FILENAME>y04717exv10w21.htm
<DESCRIPTION>EX-10.21
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w21</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT 10.21</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>ASSET PURCHASE AGREEMENT</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This states the Agreement made this 31st day of March, 2011, among AMERICAN LEARNING
CORPORATION, a New York business corporation with its principal office located at One Jericho
Plaza, Jericho, New York 11753 (&#147;ALC&#148;), INTERACTIVE GROUP THERAPY CONSULTANTS, INC., a New York
business corporation with its principal office located at One Jericho Plaza, Jericho, New York
11753 (&#147;ITG&#148; or &#147;Seller&#148;) (collectively, ALC and ITG shall be referred to herein as &#147;Selling
Parties&#148;), and LIBERTY RESOURCES POST, LLC, a New York limited liability company, with its
principal office located at 1045 James Street, Syracuse, New York 13203 (&#147;Purchaser&#148;) and JOHN
TORRENS (&#147;Torrens&#148;), an individual residing at 6368 East Seneca Turnpike, Jamesville, NY 13078.
Purchaser, ALC, ITG, and Torrens may hereinafter be sometimes referred to individually as &#147;Party&#148;
and together as the &#147;Parties.&#148;
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>RECITALS</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, ITG is a wholly-owned subsidiary of ALC and is engaged in the business of providing
early intervention and early education services for children from birth to five years of age across
New York State (the &#147;Business&#148;); and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Business is operated in New York City and Long Island (the &#147;Downstate Region&#148;) as
well as in the remainder of New York State (the &#147;Upstate Region&#148;), which includes offices in
Buffalo, Rochester, and Syracuse; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Parties (other than Torrens) are parties (among others) in an action commenced by
the Selling Parties in the Supreme Court of New York, County of Nassau, index number 1175-11, for
damages and other relief (the &#147;Litigation&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Purchaser desires to discontinue the Litigation and to acquire the Business of
the Upstate Region as a complete going business by acquiring certain assets of Seller upon the
terms stated in this Agreement; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Selling Parties desire to discontinue the Litigation and to sell certain assets
of Seller upon the terms stated in this Agreement; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Torrens desires to acquire all of the Selling Parties&#146; right, title and interest in
and to any non-disclosure, non-solicitation, and non-competition covenants granted by Torrens to
the Selling Parties; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Selling Parties desire to sell to Torrens all of their right, title and interest
in and to any non-disclosure, non-solicitation, and non-competition covenants granted by Torrens to
the Selling Parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, the Parties agree as follows:
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>ARTICLE 1</U><BR>
<U>ASSET PURCHASE</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <U>Assets Sold</U>. Seller hereby sells to Purchaser, and Purchaser hereby purchases
from Seller, all assets of Seller used in the Business in the Upstate Region (&#147;Purchased Assets&#148;),
other than the Excluded Assets (as that term is hereinafter defined), including without limitation
all of the following assets:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Those certain contractual rights of the Seller as set forth on <B>Schedule&nbsp;1.1 </B>hereto
(&#147;Assigned Contracts&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;All supplies and inventory located at or properly allocated to the offices of the Business
in the Upstate Region; and
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;All fixed assets, including without limitation, furniture, fixtures, testing instruments
(including all testing instruments in the Syracuse office), leasehold improvements used in the
Upstate Region including equipment and supplies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Excluded Assets&#148; shall mean all such other assets not included in the Purchased Assets,
including cash and cash equivalents of Seller, accounts receivable, and any real estate leases not
assumed by the Purchaser (which shall include, without limitation, the Syracuse office lease and
copier lease, and any leases associated with the Downstate Region of the Business), all furniture
and fixtures in the Syracuse office, computers, software, databases, servers, all minutes books of
the Selling Parties, and the fixed assets, supplies and inventory located in the Downstate Region
of the Business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the Purchased Assets, Seller hereby sells to Torrens, and Torrens hereby
purchases from Seller, all non-disclosure, non-solicitation and non-compete covenants granted to
the Selling Parties by Torrens (whether by contract or common law) (the &#147;Covenants&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <U>Liabilities Assumed</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;On the terms and subject to the conditions set forth in this Agreement, Purchaser hereby
assumes and agrees to pay, perform or discharge when due all of Seller&#146;s obligations under the
Assigned Contracts, if any, which arise from and after the Closing Date, and only such liabilities
of Seller (the &#147;Assumed Liabilities&#148;). The assumption by Purchaser of any Assumed Liability of
Seller shall include only payment and performance obligations thereunder which accrue or arise
after the Closing Date; in no event shall Purchaser assume or be deemed to assume any liability of
any nature (whether known, unknown, absolute, accrued, contingent or otherwise) relating to the
performance under any such Assumed Liability which accrued prior to the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Except for the Assumed Liabilities, Seller will transfer the Purchased Assets to the
Purchaser and the Covenants to Torrens free and clear of all claims, liens, mortgages, security
interests, encumbrances, charges, or any other restrictions. Other than the Assumed Liabilities,
neither Purchaser nor Torrens will assume and Seller will indemnify, defend, and hold the Purchaser
and Torrens harmless against any indebtedness, obligations, or liabilities of Seller. Neither
Purchaser nor Torrens will assume any contract, liability, obligation, commitment, or agreement not
specifically identified and accepted by Purchaser before the Closing, whether or not known,
contingent, or accrued.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 <U>Purchase Price; Allocation; Payment.</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;As consideration for the transfer of the Purchased Assets to Purchaser and Seller&#146;s other
covenants, Purchaser hereby pays to Seller a total purchase price of $650,000.00 (&#147;Purchase
Price&#148;). The Purchase Price is being paid as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;$200,000.00 is being paid at Closing by wire transfer or certified check (&#147;Down
Payment&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;The remaining Purchase Price ($450,000.00) shall paid in thirty equal monthly
installments of principal plus interest at the prime rate of interest as published in the <I>Wall
Street Journal </I>at Closing, adjusted annually. The obligations of the Purchaser shall be evidenced
by a promissory note (&#147;Note&#148;), the form of which is attached hereto as <B>Exhibit &#147;A&#148;, </B>and shall be
secured by the grant of a security interest in the Purchaser&#146;s accounts receivable pursuant to the
terms of a Security Agreement (the &#147;Security Agreement&#148;) in the form attached hereto as <B>Exhibit
&#147;B&#148;</B>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;As consideration for the transfer of the Covenants to Torrens and Seller&#146;s other
covenants, Torrens hereby pays to Seller a total purchase price of $100,000.00 (&#147;Torrens Purchase
Price&#148;). The Torrens Purchase Price is being paid in full at the Closing by wire transfer or
certified check.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Purchase Price shall be allocated among the Purchased Assets in accordance with the
Certificate of Allocation set forth hereto as <B>Exhibit &#147;C&#148; </B>(&#147;Certificate of Allocation&#148;).
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Purchaser may, as one of Purchaser&#146;s remedies in the event of any breach of this Agreement
by the Selling Parties, withhold sums payable to Seller pursuant to this Agreement to the extent of
any claim asserted by Purchaser and offset against the amounts due under those agreements any
amounts Seller is entitled to under this Agreement. Any sums so withheld shall operate as a
discharge, to the extent of the amount withheld, of Purchaser&#146;s payment obligations to Seller under
this Agreement if Seller is found to be liable for such amounts by a court of competent
jurisdiction. Purchaser shall have the right to recover directly from Seller the amount of any
claims. The remedies provided in this paragraph are cumulative and shall not prevent the assertion
by Purchaser of any other rights or the seeking of any other remedies against Seller.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 <U>Prorated Items</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Assigned Contracts</U>. All amounts due and payable and all liabilities and
obligations relating to the Assigned Contracts shall be prorated as of Closing. All Assigned
Contracts shall be brought current as of Closing by Seller.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Syracuse Office Lease</U>. Seller agrees that it will use its best efforts to
negotiate an early termination of the real estate lease for Seller&#146;s Syracuse office.
Notwithstanding that the Syracuse office lease is an Excluded Asset and is not an Assumed
Liability, Purchaser agrees to pay to Seller an amount equal to the lesser of (1)&nbsp;one half of an
early termination settlement amount, or (2)&nbsp;an amount not to exceed $2,300.00 per month, which is
equal to one half of the monthly base rent for the remainder of the term of the existing lease
agreement (but in no event for a period in excess of two years from the Closing). Purchaser&#146;s
payments hereunder shall be payable to Seller and shall be due no earlier than (1)&nbsp;five days after
receipt from Seller of evidence of its payment of an early termination settlement, or (2)&nbsp;five days
prior to the due date for each monthly rental payment. All amounts due by Purchaser pursuant to
this paragraph 1.4(b) shall be secured by the accounts receivable of Purchaser and pursuant to the
terms of the Security Agreement set forth at Exhibit&nbsp;B.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>SEDCAR Deferred Revenue</U>. Seller has on its balance sheet a deferred revenue
account reflecting Federal allocations for special education under Sections&nbsp;611 and 619 of the
Individuals with Disabilities Education Act, referred to as SEDCAR funding. The current grant year
for such funding covers the period from July&nbsp;1, 2010 to June&nbsp;30, 2011. As of March&nbsp;31, 2011, the
Seller has a deferred revenue balance reflecting SEDCAR funding that has not yet been earned in the
amount of $61,192.45 (&#147;Pro-Rata Portion&#148;). Invoices for the anticipated funding have been billed
by the Seller. Purchaser shall be credited with one half of the Pro-Rata Portion at Closing
against the Purchase Price, with the Pro-Rata Portion being applied to reduce the Down Payment.
Purchaser shall be entitled to the remaining Pro-Rata Portion of SEDCAR funding related to the
post-Closing period, April&nbsp;1, 2011 to June&nbsp;30, 2011, upon Purchaser&#146;s or Sellers&#146;, as the case may
be, completion of appropriate SEDCAR reporting and receipt of such related receivable balances from
the respective school districts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 <U>Accounts Receivable Collection</U>. Any account receivable of Seller received or
collected by the Purchaser shall be remitted to Seller within 5 business days after receipt and any
account receivable of the Purchaser received or collected by Seller or a representative thereof
shall be remitted to the Purchaser within 5 business days. The parties will act in good faith to
allocate and adjust payments of Seller&#146;s accounts receivable and Purchaser&#146;s accounts receivable as
of the Closing Date. The recipient shall send such payments in the actual form received.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 <U>Discontinuance of the Litigation</U>. In consideration of the Purchase Price, at the
Closing, Seller shall provide Purchaser with a fully executed Stipulation of Discontinuance with
Prejudice to be filed immediately after the Closing to terminate the Litigation, and Seller shall
further provide Purchaser with a General Release of all claims occurring prior to the Closing, in
the form attached hereto at <B>Exhibit &#147;D&#148;. </B>At the Closing, Seller shall also provide Purchaser with
the General Release of John Torrens, releasing Mr.&nbsp;Torrens for all claims arising from any acts or
omissions or other obligations occurring prior to the Closing. A copy of the Torrens General
Release is attached hereto at <B>Exhibit&#147;E&#148;.</B>
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>ARTICLE 2</U><BR>
<U>CLOSING</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <U>Place and Date of Closing</U>. The consummation of the transactions contemplated by
this Agreement (the &#147;Closing&#148;) shall take place by the exchange of counterpart signature pages by
fax or email and the mailing, by overnight courier, of original signature pages of the Selling
Parties to the offices of Green &#038; Seifter, Attorneys, PLLC and of the Purchaser and Torrens to the
offices of Wilk Auslander LLP on March&nbsp;31, 2011, or at any other place, time, and date specified by
either Purchaser or Seller upon five business days&#146; notice to the other, (the &#147;Closing Date&#148;). The
Closing shall be deemed to be effective as of 12:01&nbsp;a.m. on the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <U>Deliveries at Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Purchaser and Torren&#146;s Deliveries</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the Closing, Purchaser shall execute and/or deliver or cause to be executed and/or
delivered:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;the Down Payment;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;certified copies of the resolutions of the Member and Manager of Purchaser and its
members, reasonably acceptable to Seller, authorizing the consummation of the transactions
contemplated by this Agreement approving the transaction;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;the Note and Security Agreement;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;other instruments of assumption of the Assumed Liabilities pursuant to the terms of an
Assignment and Assumption Agreement (the &#147;Assignment and Assumption Agreement&#148;) in the form
attached hereto as <B>Exhibit &#147;H&#148;</B>; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;any and all other agreements, certificates, instruments, and other documents required of
Purchaser under this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the Closing, Torrens shall deliever the Torrens Purchase Price.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Seller&#146;s Deliveries</U>. At the Closing, Seller shall execute and/or deliver or cause
to be executed and/or delivered:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;a Bill of Sale for the Purchased Assets in the form attached hereto as <B>Exhibit
&#147;F&#148;;</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Estoppel Certificates and Consents to Assignment for the real estate leases in Rochester
and Buffalo, in the form attached hereto as <B>Exhibit &#147;G&#148;</B>;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;any other consents to assignment and other instruments of conveyance, acceptable to
Purchaser, that shall be sufficient to transfer title to the Purchased Assets to Purchaser,
including the Assignment and Assumption Agreement;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;the assignment of all of the non-disclosure, non-competition and non-solicitation
covenants granted by Torrens to Seller, ALC and their affiliates, including, without limitation,
pursuant to Torren&#146;s Employment Agreement, the Stock Purchase Agreement among Torrens, Kyle Palin
Torrens, Carlena Palin Torrens, and American Claims Evaluation, Inc., and all covenants implied
under common law, if any, pursuant to the terms of an Assignment Agreement in the form attached
hereto as <B>Exhibit &#147;I&#148;;</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;a fully executed Stipulation of Discontinue with Prejudice, dismissing the Litigation
against all parties subject thereto;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6)&nbsp;a fully executed General Release of the Purchaser and of John Torrens in the forms
attached hereto as <B>Exhibits &#147;D&#148; </B>and &#147;<B>E&#148;;</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7)&nbsp;certified copies of resolutions of each of the Selling Parties&#146; Board of Directors;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8)&nbsp;copies of all documents evidencing other necessary corporate or other action and
governmental approvals, if any, with respect to this Agreement and the transactions contemplated by
this Agreement that Purchaser reasonably requests;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9)&nbsp;all records and other documents included in the Purchased Assets; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10)&nbsp;any and all other agreements, certificates, instruments, and other documents required of
Seller under this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Further Actions</U>. Purchaser and the Selling Parties shall take all further actions
and execute and deliver any additional agreements, certificates, instruments, and other documents
on or after the Closing as shall be reasonably necessary to effectuate the transactions
contemplated by this Agreement.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>ARTICLE 3</u><BR>
<u>REPRESENTATIONS AND WARRANTIES </u><BR>
<u>OF SELLING PARTIES</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Selling Parties, jointly and severally, represent and warrant to Purchaser as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <U>Seller&#146;s Organization and Good Standing</U>. ALC and ITG are each corporations duly
organized, validly existing, and in good standing under the laws of the State of New York. Seller
has all requisite corporate power and authority to own, lease, and operate the properties now owned
or leased by Seller and to carry on the Business as presently conducted. There are no outstanding
subscriptions, options, rights, warrants, calls, or other agreements or commitments obligating
Seller to sell or issue any shares of its capital stock or any securities convertible into shares
of its capital stock, nor are there any voting trusts or any other agreements or understandings
with respect to the voting of Seller&#146;s capital stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <U>Enforceability</U>. Each of ALC and ITG, respectively, has full capacity, power, and
authority to enter into this Agreement and the other documents contemplated by this Agreement,
collectively referred to herein as the &#147;Transaction Documents&#148;, and to carry out the transactions
contemplated by the Transaction Documents, and each of the Transaction Documents is binding upon
each of ALC and ITG to the extent set forth in the Transaction Documents, and is enforceable
against each of ALC and ITG in accordance with the terms of the Transaction Documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <U>No Conflict with Other Instruments or Proceedings</U>. The execution and delivery of
the Transaction Documents and the consummation of the transactions contemplated by the Transaction
Documents will not (a)&nbsp;result in the breach of any of the terms or conditions of, or constitute a
default under, ALC or ITG&#146;s certificate of incorporation, by-laws, or any contract, agreement,
lease, commitment, indenture, mortgage, pledge, note, bond, license, or other instrument or
obligation to which Seller is now a party or by which Seller may be bound or affected, (b)&nbsp;result
in the imposition of any lien or encumbrance on any of the Purchased Assets; (c)&nbsp;give rise to any
right of first refusal or similar right to any third party with respect to any interest in Seller
or in any of the Purchased Assets; or (d)&nbsp;violate any law, rule, or regulation of any
administrative agency or governmental body or any order, writ, injunction, or decree of any court,
administrative agency, or governmental body. All consents, approvals, or authorizations of, or
declarations, filings, or registrations with, any third parties or governmental or regulatory
authorities required of ITG or ALC in connection with the execution, delivery, and performance of
this Agreement and the consummation of the transactions contemplated by this Agreement will be
obtained or made, as applicable, by ITG or ALC before the Closing Date.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <U>Property</U>. Seller has good and marketable title to all of the Purchased Assets,
subject to no security interest, mortgage, pledge, lien, encumbrance, charge, obligation,
assignment, leasing, or other restriction. All personal property included in the Purchased Assets
will be in the possession of Seller on the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <U>Accuracy of Statements</U>. No representation or warranty made by ALC or ITG in this
Agreement, or any information, statement, certificate, or schedule furnished, or to be furnished,
to Purchaser pursuant to this Agreement, or in connection with the transactions contemplated by
this Agreement, contains or will contain any untrue statement of a material fact or omits or will
omit to state a material fact necessary to make the statements not misleading.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>ARTICLE 4</U><BR>
<U>PURCHASER&#146;S REPRESENTATIONS AND WARRANTIES</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchaser represents and warrants to Seller as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <U>Purchaser&#146;s Organization and Good Standing</U>. Purchaser is a limited liability
company duly organized, validly existing, and in good standing under the laws of the State of New
York.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <U>Enforceability</U>. Purchaser has full capacity, power, and authority to enter into
the Transaction Documents and to carry out the transactions contemplated by the Transaction
Documents, and each of the Transaction Documents is binding upon Purchaser and is enforceable
against Purchaser in accordance with the terms of the Transaction Documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <U>No Conflict with Other Instruments or Proceedings</U>. The execution and delivery of
the Transaction Documents and the consummation of the transactions contemplated by the Transaction
Documents will not (a)&nbsp;result in the breach of any of the terms or conditions of, or constitute a
default under, Purchaser&#146;s Articles of Organization, Operating Agreement, or any contract,
agreement, lease, commitment, indenture, mortgage, pledge, note, bond, license, or other instrument
or obligation to which Purchaser is now a party or by which Purchaser may be bound or affected or
(b)&nbsp;violate any law, rule, or regulation of any administrative agency or governmental body or any
order, writ, injunction, or decree of any court, administrative agency, or governmental body. All
consents, approvals, or authorizations of, or declarations, filings, or registrations with, any
third parties or governmental or regulatory authorities required of Purchaser in connection with
the execution, delivery, and performance of this Agreement and the consummation of the transactions
contemplated by this Agreement will be obtained or made, as applicable, by Purchaser before the
Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <U>Accuracy of Statements.</U> No representation or warranty made by Purchaser in the
Transaction Documents, or any information, statement, certificate, or schedule furnished, or to be
furnished, to Seller pursuant to the Transaction Documents, or in connection with the transactions
contemplated by the Transaction Documents, contains or will contain any untrue statement of a
material fact or omits or will omit to state a material fact necessary to make the statements not
misleading.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>ARTICLE 5</U><BR>
<U>COVENANTS</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <U>Employees</U>. Purchaser will be free, without obligation, to interview, seek
employment applications from, and employ, on terms determined solely by the Purchaser, any or all
employees of the Business of the Upstate Region. Purchaser agrees that for the period commencing
with the Closing Date and terminating on a date that is thirty months following the Closing Date,
neither Purchaser nor its affiliates shall solicit for employment any of the Seller&#146;s employees in
the Downstate Region. Seller and Seller will assist the Purchaser in all reasonable respects in
connection with the Purchaser&#146;s efforts. All liabilities and obligations arising out of Seller&#146;s
employment of employees and arising out of the termination of such employees&#146; employment by the
Seller shall remain the sole liability and obligation of the Seller and shall be discharged by the
Seller at or prior to the Closing or as required by law.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <U>Consents and Approvals</U>. Seller will use Seller&#146;s best efforts to obtain, as soon
as possible all consents and approvals from third parties necessary to complete the proposed
transactions, including, without limitation, estoppel certificates and consents to assignment of
the real estate leases for the Seller&#146;s offices in Buffalo and Rochester, consent to assign the
services agreement with Gateway Inc., and consent to assign the Seller&#146;s contract with Erie County
(or to cause Erie County to enter into a new services agreement with Purchaser).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <U>Confidentiality, Non-Solicitation, and Non-Compete Agreement of ITG and ALC</U>. As
part of the transaction, ALC and ITG (collectively, the &#147;Seller Covenantors&#148;) hereby enter into a
Confidentiality, Non-Solicitation, and Non-Compete Agreement as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Confidentiality</U>. Seller Covenantors acknowledge that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;Seller Covenantors have and will come to have knowledge of
confidential or proprietary
information, know-how, and trade secrets of the Seller and the Purchaser (the &#147;Confidential
Information&#148;), including, by way of illustration and without limiting the generality of the
foregoing, know-how and information concerning the finances and operations, customer and vendor
lists and records, names and compensation information of key employees, technology, intellectual
property, know-how, trade secrets, copyrighted, copyrightable, or other materials, literature, and
documentation, proprietary ideas, writings in various stages of research and development,
processes, methods, concepts, approaches, business policies and practices, and marketing and
pricing data, strategies, and information, and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Disclosure of any Confidential Information would be harmful
to the Purchaser. Seller
Covenantors agree that Seller Covenantors shall not, without the prior written consent of
Purchaser, use or permit the use of any Confidential Information with respect to the Purchaser or
with respect to Seller&#146;s Business in the Upstate Region, or disclose, publish, or otherwise
disseminate to third parties any Confidential Information with respect to the Purchaser or with
respect to Seller&#146;s Business in the Upstate Region. Notwithstanding this paragraph, to the extent
(and only to the extent) Seller Covenantors are required to disclose Confidential Information
pursuant to the Securities Exchange Act of 1934, as amended, and regulations promulgated
thereunder, Seller Covenantors shall promptly inform Purchaser of such required disclosure.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Non-Solicitation and Non-Compete Agreement</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;<U>Non-Solicitation.</U> For thirty (30)&nbsp;months years
from the Closing Date, no Seller
Covenantor shall, directly or indirectly, or through any of its employees, agents, or
representatives, solicit business from any person or entity who had been a customer of the Seller
or the Purchaser in New York State (excepting out the five boroughs of New York City and Long
Island) at any time within the three year period prior to the Closing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;<U>Non-Compete Agreement</U>. For thirty (30)&nbsp;months
from the Closing Date, no Seller
Covenantor shall, except as the owner of less than one percent of the issued and outstanding stock
of a publicly owned company (either directly or through ownership of shares in a mutual fund):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;individually or as a partner,
stockholder, member, officer, principal, agent, employee,
supervisor, manager, consultant, financier, guarantor, lender, co-endorser, or in any other
capacity whatsoever, directly or indirectly, own, participate in the ownership of, manage, operate,
exercise any control over, render services to, derive income from, or engage in any of the
foregoing for any business, firm, corporation, limited liability company, partnership or other
entity which operates in a business similar to or competitive with the Business in New York State
(excepting out the five boroughs of New York City and Long Island); or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;In any manner, whether directly
or indirectly, seek to persuade any employees of Purchaser
or its affiliates, their successors or assigns, to discontinue his or her employment or
relationship with Purchaser or its affiliates, their successors or assigns, to become employed or
related in any business activity similar to or competitive with the Business in New York State
(excepting out the five boroughs of New York City and Long Island) nor will he solicit or retain
any such person for such employ.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Reasonableness</U>. It is expressly understood and agreed that, although the parties
consider the restrictions contained herein reasonable as to protected business, duration, and
geographic area, in the event any court of competent jurisdiction deems them to be unreasonable,
then such restrictions shall apply to the broadest business, longest period, and largest territory
as may be considered reasonable by such court and this paragraph as so amended shall be enforced.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Specific Performance</U>. The parties declare that it is impossible to measure in
money the damages that will accrue to the Purchaser by reason of a failure by Seller Covenantors to
perform any of their obligations under this Agreement. Accordingly, Seller Covenantors consent to
the issuance of any restraining order, preliminary restraining order, or injunction in connection
with any violation or any of the provisions of this paragraph. Nothing contained herein shall be
construed as a bar or waiver with respect to any right or remedy the Purchaser may have at law or
equity, including any award of monetary damages for breach of this paragraph. The parties intend
the covenants set forth in this paragraph to be enforced to the maximum extent possible. The
covenants set forth in this paragraph are in addition to and not in derogation of any rights that
the Purchaser may have at law or in equity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <U>Transition of Business</U>. The Selling Parties will do nothing to interfere with
Purchaser&#146;s efforts to transition the employees, customers, vendors, independent contractors,
agents, and regulatory agencies of the Business as it pertains to the Upstate Region.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <U>Sales Tax and Bulk Sales Tax Law Compliance</U>. Purchaser shall pay all of the sales
tax arising out of the sale of the Assets. Payment shall be made at the Closing by delivery of a
check payable to the New York State Department of Taxation and Finance. The check shall be
forwarded to the New York State Department of Taxation and Finance by Seller, together with its
Casual Sales Tax Return. In addition, the Purchaser may comply with the notification provisions of
the New York Bulk Sales tax law by giving notice, in appropriate form to New York Department of
Taxation, Sales Tax Bureau. Seller agrees that if the State claims amounts due for sales tax,
Purchaser may satisfy such liability and offset said excess against any future amounts due under
any obligation to Seller by Purchaser and/or seek immediate indemnification from Seller for the
amount.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 <U>SEDCAR Payments</U>. Seller hereby agrees to communicate to all school districts from
whom it receives SEDCAR Payments pursuant to the form letter attached hereto as <B>Exhibit &#147;K&#148;</B>, and
inform them that effective as of April&nbsp;1, 2011 and for subsequent school years, that Purchaser or
its affiliates shall be performing the services formerly provided by the Seller, and to further
cooperate with Purchaser to ensure the smooth transition of these services. Seller further agrees
that all SEDCAR payments relating to the grant period commencing on July&nbsp;1, 2011 shall be promptly
transferred to Purchaser should they be received by Seller or its affiliates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 <U>Publicity</U>. Purchaser and Seller shall simultaneously make an announcement
regarding the transactions contemplated by this Agreement in a mutually agreed upon form. After
the announcement, during the period from the date of this Agreement to the Closing Date, neither
Purchaser nor Seller shall issue any press release or otherwise make any public statements or
announcement concerning this Agreement or the transactions contemplated by this Agreement without
the prior written consent of the other Party. Notwithstanding the foregoing, neither Purchaser nor
Seller shall be prevented at any time from furnishing any required information to any governmental
agency or authority or from complying with that Party&#146;s legal obligations nor prevented from
publishing any information that is publicly available as a result.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 <U>Further Assurances</U>. Purchaser and Seller shall execute all documents and take all
further actions as may be reasonably required or desirable to carry out the provisions of this
Agreement and the transactions contemplated by this Agreement at or after the Closing to evidence
the consummation of the transactions contemplated pursuant to this Agreement. Upon the terms and
subject to the conditions of this Agreement, Purchaser and Seller shall take all actions and do, or
cause to be done, all other things necessary, proper, or advisable to consummate and make effective
as promptly as practicable the transactions contemplated by this Agreement and obtain in a timely
manner all necessary waivers, consents, and approvals, and to effect all necessary registrations
and filings.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9 <U>Delivery of Property Received After Closing</U>. After the Closing, Seller shall
promptly transfer to Purchaser, from time to time, any cash or other property received by Seller or
ALC that is associated with or relates to the Purchased Assets.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U>ARTICLE 6</U><BR>
<U>GENERAL</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <U>Survival of Representations, Warranties, and Covenants.</U> All representations,
warranties, covenants, and indemnities made by any party to this Agreement shall survive the
Closing and any investigation at any time made by or on behalf of any party before or after the
Closing. No investigation by Purchaser shall in any way affect Purchaser&#146;s right to rely on the
representations, warranties, and covenants of the Selling Parties set forth in this Agreement or
any document related to this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <U>Assignment and Benefits</U>. This Agreement shall be binding upon, inure to the
benefit of, and be enforceable by and against the respective successors and permitted assigns of
each of the Parties to this Agreement. No Party to this Agreement shall assign any of its or his
rights or obligations under this Agreement without the advance written consent of the other Parties
to this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <U>Notices</U>. All notices, requests, demands, and other communications under this
Agreement shall be in writing and shall be deemed to have been duly given when delivered, sent by
telecopy, or sent by express delivery service with charges prepaid and receipt requested, or, if
those services are not reasonably available, mailed (postage prepaid) by certified mail with return
receipt requested:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">To Purchaser at:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">With a copy to:</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Liberty Resources POST, LLC<br>
1045 James Street <br>
Syracuse, New York 13203<br>
Attn.: Carl Coyle
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Green &#038; Seifter, Attorneys, PLLC <br>
Attn.: Lowell A. Seifter, Esq. <br>
One Lincoln Center, Suite&nbsp;900<br>
110 West Fayette Street <br>
Syracuse, New York 13202</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">To Selling Parties at:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">With a copy to:</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">American Learning Corporation <br>
One Jericho Plaza <br>
Jericho, New York 11753<br>
Attn.: Gary J. Knauer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Wilk Auslander LLP <br>
Attn: Joel I. Frank, Esq.<br>
675 Third Avenue <br>
New York, New York 10017</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any Party may change that Party&#146;s address by prior written notice to the other Parties in
accordance with this Section&nbsp;6.3.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <U>Expenses</U>. Each Party to this Agreement shall pay that Party&#146;s respective
expenses, costs, and fees (including professional fees) incurred in connection with the
negotiation, preparation, execution, and delivery of this Agreement and the consummation of the
actions contemplated by this Agreement. Notwithstanding this paragraph 6.4, in any action arising
out of the terms and conditions of this Agreement, the prevailing Party shall be entitled to
recover from the losing Party any costs and reasonable attorney&#146;s fees incurred in connection with
such legal action.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <U>Entire Agreement</U>. This Agreement, and the exhibits and schedules to this
Agreement (which are incorporated in this Agreement by reference), and the agreements referred to
in this Agreement, contain the entire agreement and understanding of the parties and supersede all
prior agreements, negotiations, arrangements, and understandings relating to the subject matter of
this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <U>Amendments and Waivers</U>. This Agreement may be amended, modified, superseded, or
canceled and any of the terms, covenants, representations, warranties, or conditions of this
Agreement may be waived only by a written instrument signed by each Party to this Agreement or, in
the case of a waiver, by or on behalf of the Party
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">waiving compliance. The failure of any Party at any time to require performance of any provision
in this Agreement shall not affect the right of that Party at a later time to enforce that or any
other provision. No waiver by any Party of any condition, or of any breach of any term, covenant,
representation, or warranty contained in this Agreement, in any one or more instances, shall be
deemed to be a further or continuing waiver of any condition or of any breach of any other term,
covenant, representation, or warranty.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <U>Severability</U>. Except as otherwise specifically provided in this Agreement, this
Agreement shall be interpreted in all respects as if any invalid or unenforceable provision were
omitted from this Agreement. All provisions of this Agreement shall be enforced to the full extent
permitted by law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8 <U>Headings</U>. The headings of the sections and subsections of this Agreement have
been inserted for convenience of reference only and shall not restrict or modify any of the terms
or provisions of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9 <U>Governing Law</U>. This Agreement shall be governed by, and interpreted and enforced
in accordance with, the laws of the State of New York, as applied to contracts made and to be
performed in that state, without regard to conflicts of law principles. Jurisdiction of any action
or proceeding brought to enforce this Agreement or otherwise relating to this Agreement shall be in
the State of New York, with venue in Albany County, and each Party hereby consents to the personal
jurisdiction and subject matter jurisdiction of the courts of the State of New York in any suit,
action or proceeding arising out of or related to this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10 <U>Construction</U>. The language used in this Agreement shall be deemed to be the
language chosen by the Parties to express their mutual intent and no rule of strict construction
shall be applied against any Party. Unless otherwise expressly provided, the words &#147;include&#148; and
&#147;including&#148; (and variations of those words) whenever used in this Agreement shall not limit the
preceding words or terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.11 <U>Counterparts</U>. This Agreement may be signed in counterparts, each of which shall
be deemed to be an original, and the counterparts shall together constitute one complete document.
Counterparts may be signed and delivered by a party by fax, or email, which shall be binding on
that party when faxed or emailed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above
written.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">AMERICAN LEARNING CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Gary Gelman
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Gary Gelman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Its: President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left" nowrap>INTERACTIVE THERAPY GROUP CONSULTANTS, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Gary Gelman
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Gary Gelman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Its: Chairman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">LIBERTY RESOURCES POST, LLC, by its Manager<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Carl Coyle
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Carl Coyle, President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ John Torrens
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">John Torrens&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

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<SEQUENCE>3
<FILENAME>y04717exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
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<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT 99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMERICAN LEARNING CORPORATION<BR>
ANNOUNCES PROPOSED ACQUISITION AND SALE OF CERTAIN ASSETS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">JERICHO, NY, April&nbsp;6, 2011: American Learning Corporation (the &#147;Company&#148;) (NASDAQ:ALRN) is pleased
to announce it has signed a non-binding letter of intent to acquire an 80% interest in an east
coast company which provides educational and behavioral health professionals that has reported
revenues averaging over $30&nbsp;million per year over the last few years. The Company will have the
option to acquire the remaining 20% interest at a future date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The proposed acquisition would be accretive to the Company&#146;s earnings immediately. Payment for the
proposed acquisition is to be made by a combination of cash and notes payable at closing with an
additional sum based on future earnings. Current management in the company will continue in their
existing capacities. As is customary, the proposed acquisition is subject to due diligence and the
consummation of a legally binding agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gary Gelman, the Company&#146;s President, stated, &#147;The proposed acquisition would mark the next step in
the development of the Company and accelerate its expansion plans.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Also, on March&nbsp;31, 2011, the Company completed the disposition of certain assets of its wholly
owned subsidiary, Interactive Therapy Group Consultants, Inc. (&#147;ITG&#148;), pursuant to an Asset
Purchase Agreement (the &#147;Agreement&#148;) among the Company, ITG, Liberty Resources POST, LLC
(&#147;Liberty&#148;) and John Torrens. In consideration of the purchase price provided for in the
Agreement, the Company sold certain assets related to ITG&#146;s business in the upstate region of New
York State. Total compensation to the Company, in the amount of $650,000, consisted of $200,000
in cash and a note receivable in the amount of $450,000. At the closing, $25,000 of the cash
consideration was deposited into an escrow account subject to the assignment of a certain contract
to Liberty by the Company. In addition, the Company released John Torrens, ITG&#146;s former President,
from his non-competition agreement for a sum of $100,000 in cash. ITG will continue to
operate in the downstate area of New York State (New York City and Long Island).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">American Learning Corporation, through its wholly owned subsidiaries, Interactive Therapy Group
Consultants, Inc. and Signature Learning Resources, Inc., offers a comprehensive range of services
to children with developmental delays and disabilities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For further information contact: Gary J. Knauer, Chief Financial Officer, American Learning
Corporation, One Jericho Plaza, Jericho, NY 11753; telephone number (516)&nbsp;938-8000.
</DIV>



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