Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 158

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1
Chunk 158
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 $41,043,520 

    Balance 
     -  
    $-  
     12,452,670  
    $12,453  
    $27,273,365  
    $13,757,702  
    $41,043,520 

The
accompanying notes are an integral part of these consolidated financial statements.

F-5

Legacy
Education Inc.

Consolidated
Statements of Cash Flows

    2025  
    2024 

    For the fiscal years ended June 30, 

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

    Net income 
    $7,534,232  
    $5,114,852 
  
    Adjustments to reconcile net loss to net cash (used in) provided by operating activities: 

    Non cash compensation 
     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 
     (