Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 5

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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    Other assets 
     (96,367) 
     66,000 
  
    Accounts payable and accrued liabilities 
     699,149 
     398,681 
  
    Income tax payable 
     (1,287,386) 
     1,138,923 
  
    Other current liabilities 
     -  
     61,493 
  
    Deferred rent 
     -  
     (49,320)
  
    Deferred unearned tuition 
     1,088,717  
     530,371 
  
    Net
    cash provided by operating activities 
     3,844,303  
     2,925,060 

    Cash flows used in investing
    activities: 

    Cash paid under APA 
     (6,133,087) 
     - 
  
    Purchases of property
    and equipment 
     (428,091) 
     (348,671)
  
    Net
    cash used in investing activities 
     (6,561,178) 
     (348,671)

    Cash flows provided by financing
    activities: 

    Proceeds from IPO, net of offering cost 
     9,252,349  
     - 
  
    Proceeds from exercise of options 
     77,083  
     - 
  
    Principal payment on finance lease 
     (68,807) 
     - 
  
    Principal payments on
    debt 
     (50,173) 
     (300,528)
  
    Net
    cash provided by (used in) financing activities 
     9,210,452  
     (300,528)

    Net increase cash and cash
    equivalents and restricted cash 
     6,493,577  
     2,275,861 
  
    Cash
    and cash equivalents and restricted cash, beginning of year 
     10,376,149  
     9,389,606 
  
    Cash
    and cash equivalents and restricted cash, end of year 
    $16,869,726  
    $11,665,467 

    Supplemental disclosure
    of cash flow information 

    Cash paid during the
    periods for interest 
    $68,496  
    $63,872 
  
    Cash paid during the
    periods for income taxes 
    $