Legacy Education Inc.
For the period ended Jun 30, 2025. Filed Sep 25, 2025.
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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.
FY2025 · Filed Sep 25, 2025
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
| 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 | (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 cash equivalents and restricted cash | 9,940,208 | 986,543 | ||
| Cash and cash equivalents and restricted cash, beginning of year | 10,376,149 | 9,389,606 | ||
| Cash and cash equivalents and restricted cash, end of year | $20,316,357 | $10,376,149 | ||
| Supplemental disclosure of cash flow information | ||||
| Cash paid during the periods for interest | $136,267 | $118,162 | ||
| Cash paid during the periods for income taxes | $3,833,228 | $1,304,329 | ||
| Supplemental disclosure of noncash activities | ||||
| Non-cash purchase of financed lease assets | $ | - | $340,048 | |
| Non-cash purchase of equipment | $567,451 | $145,694 | ||
| Prepaid expense reclassifies to offering cost | $276,866 | $ | - | |
| Common stock issued as part of APA | $1,000,000 | $ | - | |
| Promissory note under APA | $400,000 | $ | - | |
| Net identifiable assets acquired under APA | $(205,670) | $ | - | |
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