Legacy Education Inc
For the period ended Jun 30, 2024. Filed Oct 1, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Oct 1, 2024
LGCY$8.59-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| 2024 · 2023 | ||||
|---|---|---|---|---|
| Cash flows provided by (used in) operating activities: | ||||
| Net income | $5,114,852 | $2,666,739 | ||
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||
| Non cash compensation | 1,882,076 | - | ||
| Depreciation & amortization | 265,036 | 224,488 | ||
| Deferred income tax | (730,000) | (75,792) | ||
| Provision for allowance for doubtful accounts for accounts receivable and contracts receivable | 348,788 | (152,891) | ||
| Changes in assets and liabilities: | ||||
| Accounts receivable | (6,440,025) | (1,994,737) | ||
| Prepaid expenses | (370,766) | (5,510) | ||
| Other receivables | 560 | 569,040 | ||
| Related party receivable | 69,975 | - | ||
| Other assets | (183,917) | (141,802) | ||
| Accounts payable and accrued liabilities | 1,283,922 | 163,411 | ||
| Income tax payable | 1,296,280 | 143,220 | ||
| Deferred unearned tuition | (887,979) | 373,270 | ||
| Net cash provided by operating activities | 1,648,802 | 1,769,436 | ||
| Cash flows used in investing activities: | ||||
| Purchases of property and equipment | (423,710) | (195,076) | ||
| Net cash used in investing activities | (423,710) | (195,076) | ||
| Cash flows provided by financing activities: | ||||
| Dividend paid in cash | - | (916,724) | ||
| Proceeds from exercise of options | - | 33,800 | ||
| Principal payment on finance lease | (67,379) | - | ||
| Principal payments on debt | (171,170) | (168,394) | ||
| Net cash used in financing activities | (238,549) | (1,051,318) | ||
| Net increase cash and cash equivalents and restricted cash | 986,543 | 523,042 | ||
| Cash and cash equivalents and restricted cash, beginning of year | 9,389,606 | 8,866,564 | ||
| Cash and cash equivalents and restricted cash, end of year | $10,376,149 | $9,389,606 | ||
| Supplemental disclosure of cash flow information | ||||
| Cash paid during the periods for interest | $118,162 | $96,259 | ||
| Cash paid during the periods for income taxes | $1,304,329 | $1,030,364 | ||
| Supplemental disclosure of noncash activities | ||||
| Non-cash purchase of financed lease assets | $340,048 | $ | - | |
| Non-cash dividend | $ | - | $12,392 | |
| Non-cash purchase of equipment | $145,694 | $11,267 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.