Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 119

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 119
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 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. Diluted EPS is calculated using the treasury stock method, and reflects the potential dilution that could occur
if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common
stock that then shared in the earnings of the entity.

The
following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common
share for the three months ended September 30, 2025 and 2024:

Schedule of Reconciliation of Basic and Diluted 

    2025  
    2024 
  
    Numerator 

    Net income 
    $2,186,960  
    $2,090,753 

    Denominator 

    Weighted-average shares outstanding, basic 
     12,458,551  
     9,320,063 
  
    Common stock warrants 
     77,293  
     - 
  
    Dilutive impact of share-based instruments 
     1,350,357  
     497,495 
  
    Weighted-average shares outstanding, diluted 
     13,886,201  
     9,817,558 

    Net income per share 

    Basic 
    $0.18  
    $0.22 
  
    Diluted 
    $0.16  
    $0.21 

    F-12

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

Recent
Accounting Pronouncements

In
November 2023, the FASB issued ASU