Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 52

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 52
---

    ●
    From
    October 2024 to December 2024, the Company issued 375,000 shares of common stock pursuant to the exercise of the over-allotment option
    by the underwriters to the IPO, at a price of $4.00 per share for gross proceeds of $1,500,000.

9

Impact
of Inflation

We
believe that inflation has not had a material impact on our results of operations for the three or nine months ended March 31, 2025,
and 2024. There can be no assurance that future inflation will not have an adverse impact on our operating results and financial condition.

Segment
Information

We
operate in one reportable segment as a single educational delivery operation using a core infrastructure that serves the curriculum and
educational delivery needs of our institution’s students regardless of geography. Our chief operating decision maker, our CEO and
President, manages our operations as a whole, and our chief operating decision maker does not evaluate expenses or operating income information
on a component level.

Recent
Accounting Pronouncements

In
June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial
Instruments (“ASU 2016-13”). ASU 2016-13 provides guidance for recognizing credit losses on financial instruments based on
an estimate of current expected credit losses model. The amendments are effective for fiscal years beginning after December 15, 2019.
Recently, the FASB issued the final ASU to delay adoption for smaller reporting companies for fiscal years beginning after December 15,
2022. We adopted ASU 2016-13 on July 1, 2023 and it did not have a material impact on our consolidated financial statements and related
disclosures.

In
August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts
in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.
This ASU amends the guidance on convertible instruments and the derivatives scope exception for contracts in an entity’s own equity,
and also improves and amends the related earnings per share guidance for both Subtopics. The ASU will be effective for smaller reporting
companies