Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 160

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 160
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 audit and the financial statements, known as the auditor discussion and analysis. We will
remain an “emerging growth company” until the earliest of (i) the last day of the fiscal year in which we have total annual
gross revenues of $1.235 billion or more, as such amount is indexed for inflation every five years by the Securities and Exchange Commission
to reflect the change in the Consumer Price Index for All Urban Consumers during its most recently completed fiscal year; (ii) the last
day of our fiscal year following the fifth anniversary of the date of the completion of our initial public offering; (iii) the date on
which we have issued more than $1 billion in nonconvertible debt during the previous three years; or (iv) the date on which we are deemed
to be a large accelerated filer under the rules of the Securities and Exchange Commission.

ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The
Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined
in Rule 12b-2 of the Exchange Act.

ITEM
4. CONTROLS AND PROCEDURES

Evaluation
of Disclosure Controls and Procedures

Our
principal executive officer and principal financial officer evaluated the effectiveness of our “disclosure controls and procedures”
as of March 31, 2025, the end of the period covered by this Quarterly Report on Form 10-Q. The term “disclosure controls and procedures,”
as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, means controls and other procedures of a company that are designed
to ensure that information required to be disclosed by a company in the reports that it files under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include,
without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports
that it files under the Exchange Act is accumulated and communicated to a company’s management, including its principal executive
officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure. In designing and evaluating
the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and recognizes
that any control and procedures, no matter how well designed and operated, cannot provide absolute assurance that the objectives of