Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 59

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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Statements of Cash Flows

    For
    the three months ended September 30, 

    2025  
    2024 
  
    Cash flows provided by (used
    in) operating activities: 

    Net income 
    $2,186,960  
    $2,090,753 
  
    Adjustments to reconcile
    net loss to net cash (used in) provided by operating activities: 

    Non cash compensation 
     269,246  
     67,031 
  
    Depreciation & amortization 
     123,828  
     81,137 
  
    Provision for allowance for doubtful accounts
    for accounts receivable and contracts receivable 
     641,681  
     556,316 
  
    Changes in assets and liabilities: 

    Accounts receivable 
     (2,792,068) 
     82,193 
  
    Prepaid expenses 
     (795,737) 
     (208,042)
  
    Other receivable 
     (177,090) 
     - 
  
    Other assets 
     51,912  
     (34,133)
  
    Accounts payable and accrued liabilities 
     365,148  
     490,941 
  
    Income tax payable 
     787,724  
     (1,147,624)
  
    Deferred unearned tuition 
     394,731  
     1,206,682 
  
    Net cash provided by operating
    activities 
     1,056,335  
     3,185,254 

    Cash flows used in investing
    activities: 

    Purchases of property and equipment 
     (246,677) 
     (235,816)
  
    Net cash used in investing
    activities 
     (246,677) 
     (235,816)

    Cash flows provided by (used
    in) financing activities: 

    Proceeds from IPO, net of offering cost 
     -  
     8,216,438 
  
    Proceeds from exercise of options 
     165,895  
     39,520 
  
    Principal payment on finance lease 
     (61,104) 
     (56,184)
  
    Principal payments on debt 
     (644,719)