Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 17

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part II, Item 8
Chunk 17
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 auditor attestation requirements of Section
404 of the Sarbanes-Oxley Act of 2002, as amended, reduced disclosure obligations regarding executive compensation in the Company’s
periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation
and stockholder approval of any golden parachute payments not previously approved. If some investors find the securities less attractive
as a result, there may be a less active trading market for securities and the prices of securities may be more volatile.

In
addition, Section 107 of the JOBS Act also provides that an “emerging growth company” can take advantage of the extended
transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards (that is,
an “emerging growth company” can delay the adoption of certain accounting standards until those standards would otherwise
apply to private companies). The Company intends to take advantage of the benefits of this extended transition period.

Additionally,
the Company is a “smaller reporting company” as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may
take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial
statements. The Company will remain a smaller reporting company until the last day of the fiscal year in which (1) the market value of
the common stock held by non-affiliates equals or exceeds $250 million as of the as of the last business day of its most recently completed
second fiscal quarter, or (2) the annual revenues equaled or exceeded $100 million during its most recently completed fiscal year and
the market value of the common stock held by non-affiliates equals or exceeds $700 million as of the last business day of its most recently
completed second fiscal quarter.

Earnings
Per Share

FASB
ASC 260, Earnings Per Share, requires dual presentation of basic and diluted earnings per share (“EPS”) with a reconciliation
of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. Basic
EPS excludes dilution. Diluted EPS is calculated using the treasury stock method, and reflects the potential dilution that could occur
if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common
stock that then shared in the earnings of the entity.

The
following table provides a reconciliation of the numerators