Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 918

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 7
Chunk 918
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 of common stock pursuant to the exercise of the over-allotment option
    by the underwriters in connection with the initial public offering at a price of $4.00 per share for gross proceeds of $1,500,000.

Impact
of Inflation

We
believe that inflation has not had a material impact on our results of operations for the fiscal years ended 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
June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. Subsequently, the FASB issued the final ASU to delay adoption for smaller reporting companies
for fiscal years beginning after December 15, 2022. The Company adopted ASU 2016-13 on July 1, 2023 and it did not have a material impact
on its consolidated financial statements and related disclosures.

88

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 exception for
contracts in an entity’s own equity and also improves and amends the related EPS guidance for both Subtopics. The Company
adopted ASU 2020-06 on July 1, 2024 and it did not have a material