Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 104

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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Net
cash provided by operating activities was approximately $4.8 million and $2.7 million for the nine months ended March 31, 2025, and 2024,
respectively. The increase of approximately $2.1 million is primarily attributable to an increase in earnings.

Investing
activities

Net
cash used in investing activities was approximately $6.9 million for the nine months ended March 31, 2025, and approximately $0.4 million
for the nine months ended March 31, 2024, an increase of approximately $6.5 million primarily attributed to the acquisition of CCMCC
of $6.1 million.

Financing
activities

Net
cash provided by financing activities was approximately $9.1 million for the nine months ended March 31, 2025, and net cash used of approximately
$0.2 million for the nine months ended March 31, 2024, an increase of approximately $8.9 million due to the net proceeds of $9.2 million
from our initial public offering (“IPO”), offset by certain debt repayments.

Financings

    ●
    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 or nine months ended March 31, 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