Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 101

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 101
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ings

    ●
    From
    July 2021 to September 2021, the Company issued 108,333 shares of common stock to investors at a purchase price of $3.00 per share
    for total proceeds of $325,000.

    ●
    From
    July 2022 to June 2023, the Company issued dividends of $929,116

    ●
    From
    July 2024 to September 2024, the Company issued 2,500,000 shares of common stock as part of its IPO at a price of $4.00 per share
    for gross proceeds of $10,000,000

    ●
    From
    October 2024 to December 2024, the Company issued 375,000 shares of common stock pursuant to the exercise of the over-allotment option
    by the underwriters to the IPO, at a price of $4.00 per share for gross proceeds of $1,500,000.

9

Impact
of Inflation

We
believe that inflation has not had a material impact on our results of operations for the three months ended September 30, 2025, and
2024. There can be no assurance that future inflation will not have an adverse impact on our operating results and financial condition.

Segment
Information

We
operate in one reportable segment as a single educational delivery operation using a core infrastructure that serves the curriculum and
educational delivery needs of our institution’s students regardless of geography. Our chief operating decision maker, our CEO and
President, manages our operations as a whole, and our chief operating decision maker does not evaluate expenses or operating income information
on a component level.

Recent
Accounting Pronouncements

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures (“ASU
2023-07”), which requires incremental disclosures related to a public entity’s reportable segments. Required disclosures
include, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker
(“CODM”) and included within each reported measure of segment profit or loss, an amount for other segment items (which is
the difference between segment revenue less segment expenses and less segment profit or loss) and a description of its composition, the
title and position of the CODM, and an explanation of how the CODM uses the reported measure