Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 83

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 83
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 Operating lease liability – non-current 
     13,316,571  
     13,748,161 
  
    Total operating lease liability 
    $15,475,612  
    $16,054,222 

Other
supplemental information:

Schedule
of Other supplemental Information

    For
    the three months ended September 30, 

    2025  
    2024 
  
    Cash paid for operating lease 
    $832,580  
    $782,273 

    F-18

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

Note
13 – Stockholders’ Equity

Reverse
Stock Split

On
September 9, 2024, the Company’s stockholders approved an amendment to the Company’s articles of incorporation to effectuate
a 1-for-2 reverse split of the Company’s common stock. The amendment to the Company’s articles of incorporation was filed
with the Nevada Secretary of State on September 9, 2024. The consolidated financial statements, and all share and per share information
contained herein, have been retroactively adjusted to reflect the reverse stock split.

As
of September 30, 2025 and June 30, 2025, the Company had 110,000,000 shares of authorized capital, par value $0.001, of which 100,000,000
shares are designated as common stock, and 10,000,000 shares are designated as preferred stock.

Equity
Transactions

During
the three months ended September 30, 2025, 44,357 stock options were exercised at $3.74 per share of common stock.

In
August 2024, 76,000 stock options were exercised at $0.52 per share of common stock.

On
September 27, 2024, the Company completed its initial public offering of 2,500,000 shares of common stock, priced at $4.00 per share.
Concurrently, the Company issued 2,013 shares as true up shares as a result of the 1-for-2 reverse split. In conjunction with the offering,
the Company granted stock purchase warrants to purchase an aggregate of 143,750 shares of its common stock at an exercise price of $4.60
per share to underwriters.

During
the three months ended December 31