Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 29

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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,455,416  
     1,947,620 
  
    Total operating lease
    liability 
    $14,968,111  
    $3,816,180 

Other
supplemental information:

 Schedule
of Other supplemental Information

    2024  
    2023 

    For
    the six months ended December 31, 

    2024  
    2023 
  
    Cash paid
    for operating lease 
    $1,253,157  
    $1,251,902 

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 December 31, 2024 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.

During
the three months ended December 31, 2024, 10,044 stock options were exercised at $3.74 per share of common stock.

During
the three months ended December 31, 2024, the Company issued 375,000 common shares in respect to the underwriters’ option to purchase
up to an additional 375,000 shares of common stock to cover allotments.

On
December 18, 2024, the Company issued 118,906 common shares pursuant to the