Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 135

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 135
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    $2,424,490  
    $1,868,560 
  
    Operating
    lease liability – non-current 
     14,244,357  
     1,947,620 
  
    Total
    operating lease liability 
    $16,668,847  
    $3,816,180 

Other
supplemental information:

 Schedule
of Other supplemental Information

    2025  
    2024 

    For
    the nine months ended March 31, 

    2025  
    2024 
  
    Cash
    paid for operating lease 
    $2,125,126  
    $1,418,542 

Note
13 – Stockholders’ Equity

Reverse
Stock Split

On
September 9, 2024, our stockholders approved an amendment to our articles of incorporation to effect a 1-for-2 reverse split of our common
stock. The amendment to our certificate 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 March 31, 2025 and June 30, 2024, 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, which have liquidation preference over
the common stock and are non-voting.

Equity
Transactions

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, 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.

    F-18

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
The Three and Nine Months ended March 31,