Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 507

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1B
Chunk 507
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ups Act of 2012, or the JOBS Act. As such, the Company
is eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public
companies that are not “emerging growth companies” including, but not limited to, not being required to comply with the
auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, as amended, reduced disclosure obligations
regarding executive compensation in the Company’s periodic reports and proxy statements, and exemptions from the requirements
of holding a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not
previously approved. If some investors find the securities less attractive as a result, there may be a less active trading market
for securities and the prices of securities may be more volatile.

In
addition, Section 107 of the JOBS Act also provides that an “emerging growth company” can take advantage of the extended
transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards (that is,
an “emerging growth company” can delay the adoption of certain accounting standards until those standards would otherwise
apply to private companies). The Company intends to take advantage of the benefits of this extended transition period.

Additionally, the Company is a “smaller reporting company” as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting
companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited
financial statements. The Company will remain a smaller reporting company until the last day of the fiscal year in which (1) the market
value of the common stock held by non-affiliates equals or exceeds $250 million as of the as of the last business day of its most recently
completed second fiscal quarter, or (2) the annual revenues equaled or exceeded $100 million during its most recently completed fiscal
year and the market value of the common stock held by non-affiliates equals or exceeds $700 million as of the last business day of its
most recently completed second fiscal quarter.

Earnings
Per Share

FASB
ASC 260, Earnings Per Share, requires dual presentation of basic and diluted earnings per share (“EPS”) with a reconciliation
of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. Basic
EPS excludes dilution. Dil