Legacy Education Inc.
For the period ended Jun 30, 2026. Filed Sep 24, 2026.
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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.
FY2026 · Filed Sep 24, 2026
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, | ||||
|---|---|---|---|---|
| 2026 · 2025 | ||||
| Cash flows provided by (used in) operating activities: | ||||
| Net income | $9,139,483 | $7,534,232 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Loss on disposal of fixed assets | 14,812 | - | ||
| Loss on debt settlement | 333,250 | - | ||
| Non cash compensation | 1,170,977 | 552,800 | ||
| Depreciation & amortization | 644,085 | 441,718 | ||
| Deferred income tax | (335,387) | 502,454 | ||
| Provision for credit losses | 3,992,359 | 3,407,275 | ||
| Changes in assets and liabilities: | ||||
| Accounts receivable, net | (8,985,834) | (3,870,967) | ||
| Prepaid expenses | (756,209) | (327,148) | ||
| Other receivable | (768,517) | (161,530) | ||
| Related party receivable | - | - | ||
| Other assets | (103,500) | (54,293) | ||
| Accounts payable and accrued liabilities | 69,462 | 1,056,269 | ||
| Income tax payable | (215,584) | (847,085) | ||
| Deferred unearned tuition | (172,449) | (465,486) | ||
| Net cash provided by operating activities | 4,026,948 | 7,768,239 | ||
| Cash flows used in investing activities: | ||||
| Cash paid under APA | - | (6,133,087) | ||
| Purchases of property and equipment | (1,345,816) | (844,320) | ||
| Net cash used in investing activities | (1,345,816) | (6,977,407) | ||
| Cash flows provided by (used in) financing activities: | ||||
| Proceeds from IPO, net of offering cost | - | 9,162,845 | ||
| Proceeds from exercise of options | 578,226 | 374,631 | ||
| Principal payment on finance lease | (63,988) | (57,260) | ||
| Principal payments on debt | (780,568) | (330,840) | ||
| Net cash provided by (used in) financing activities | (266,330) | 9,149,376 | ||
| Net increase in cash and cash equivalents and restricted cash | 2,414,802 | 9,940,208 | ||
| Cash and cash equivalents and restricted cash, beginning of year | 20,316,357 | 10,376,149 | ||
| Cash and cash equivalents and restricted cash, end of year | $22,731,159 | $20,316,357 | ||
| Supplemental disclosure of cash flow information | ||||
| Cash paid during the periods for interest | $68,150 | $136,267 | ||
| Cash paid during the periods for income taxes | $3,810,653 | $3,833,228 | ||
| Supplemental disclosure of noncash activities | ||||
| Non-cash purchase of equipment | $ | - | $567,451 | |
| Prepaid expense reclassified to offering costs | $ | - | $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) | |
| Common stock issued to settle debt | $500,000 | $ | - | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.