Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 18

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---

    $4,153,508 

    Denominator 

    Weighted-average
    shares outstanding, basic 
     12,377,420  
     9,291,149  
     11,309,831  
     9,291,149 
  
    Common
    stock warrants 
     143,750  
     -  
     143,750  
     - 
  
    Dilutive
    impact of share-based instruments 
     1,006,974  
     400,000  
     1,006,974  
     400,000 
  
    Weighted-average
    shares outstanding, diluted 
     13,528,144  
     9,691,149  
     12,460,555  
     9,691,149 

    Net
    income per share 

    Basic 
    $0.23  
    $0.19  
    $0.56  
    $0.45 
  
    Diluted 
    $0.21  
    $0.19  
    $0.51  
    $0.43 

Recent
Accounting Pronouncements

In
June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial
Instruments (“ASU 2016-13”). ASU 2016-13 provides guidance for recognizing credit losses on financial instruments based on
an estimate of current expected credit losses model. The amendments are effective for fiscal years beginning after December 15, 2019.
Recently, the FASB issued the final ASU to delay adoption for smaller reporting companies for fiscal years beginning after December 15,
2022. We adopted ASU 2016-13 on July 1, 2023 and it did not have a material impact on our consolidated financial statements and related
disclosures.

In
August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives
and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts
in an Entity’s Own Equity. This ASU amends the guidance on convertible instruments and the derivatives scope