Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 927

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 7
Chunk 927
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 552,800  
     1,882,076 
  
    Depreciation & amortization 
     441,718  
     265,036 
  
    Deferred income tax 
     502,454  
     (730,000)
  
    Provision for allowance for doubtful accounts for accounts receivable and contracts receivable 
     2,529,500  
     348,788 
  
    Changes in assets and liabilities: 

    Accounts receivable 
     (2,993,192) 
     (6,440,025)
  
    Prepaid expenses 
     (327,148) 
     (370,766)
  
    Other receivable 
     (161,530) 
     560 
  
    Related party receivable 
     -  
     69,975 
  
    Other assets 
     (54,293) 
     (183,917)
  
    Accounts payable and accrued liabilities 
     1,056,269  
     1,283,922 
  
    Income tax payable 
     (847,085) 
     1,296,280 
  
    Deferred unearned tuition 
     (465,486) 
     (887,979)
  
    Net cash provided by operating activities 
     7,768,239  
     1,648,802 

    Cash flows used in investing activities: 

    Cash paid under APA 
     (6,133,087) 
     - 
  
    Purchases of property and equipment 
     (844,320) 
     (423,710)
  
    Net cash used in investing activities 
     (6,977,407) 
     (423,710)

    Cash flows provided by (used in) financing activities: 

    Proceeds from IPO, net of offering cost 
     9,162,845  
     - 
  
    Proceeds from exercise of options 
     374,631  
     - 
  
    Principal payment on finance lease 
     (57,260) 
     (67,379)
  
    Principal payments on debt 
     (330,840) 
     (171,170)
  
    Net cash provided by (used in) financing activities 
     9,149,376  
     (238,549)

    Net increase cash and