Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 920

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 7
Chunk 920
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 on other exemptions and reduced reporting requirements provided by the JOBS
Act. Subject to certain conditions set forth in the JOBS Act, as an “emerging growth company,” we intend to rely on certain
of these exemptions, including, without limitation, (i) providing an auditor’s attestation report on our system of internal controls
over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act and (ii) complying with any requirement that may be adopted
by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report
providing additional information about the audit and the financial statements, known as the auditor discussion and analysis. We will
remain an “emerging growth company” until the earliest of (i) the last day of the fiscal year in which we have total annual
gross revenues of $1.235 billion or more; (ii) the last day of our fiscal year following the fifth anniversary of the date of the completion
of our initial public offering; (iii) the date on which we have issued more than $1 billion in nonconvertible debt during the previous
three years; or (iv) the date on which we are deemed to be a large accelerated filer under the rules of the Securities and Exchange Commission.

ITEM
7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

The
Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined
in Rule 12b-2 of the Exchange Act.

89

ITEM
8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

LEGACY
EDUCATION INC.

INDEX
TO FINANCIAL STATEMENTS

LEGACY
EDUCATION INC.

CONSOLIDATED
FINANCIAL STATEMENTS

for
the fiscal years ended June 30, 2025 and 2024

90

Legacy
Education Inc.

(dba
High Desert Medical College)

(dba
Central Coast College)

(dba
Integrity College of Health)

(dba Contra Costa Medical Career College)

Consolidated
Financial Statements for the fiscal years ended June 30, 2025 and 2024

Table
of Contents

    Page

    Report of Independent Registered Public Accounting Firm
     
    F-2

    Financial
    Statements:

    Consolidated Balance Sheets
     
    F-3

    Consolidated Income Statements