Legacy Education Inc. Files 2024 10-K

TL;DR

Legacy Education Inc. filed its 2024 10-K, detailing financials for the year ending June 30.

AI Summary

Legacy Education Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting its financial performance and business operations. The company, incorporated in Nevada and headquartered in Temecula, California, operates within the educational services sector. This filing provides a comprehensive overview of its financial condition and strategic outlook for the upcoming fiscal year.

Why It Matters

This 10-K filing is crucial for investors and stakeholders to understand Legacy Education Inc.'s financial health, operational performance, and future prospects as of June 30, 2024.

Risk Assessment

Risk Level: medium — The filing is a standard 10-K, but the educational services sector can be subject to regulatory changes and market demand fluctuations.

Key Numbers

• 2024-06-30 — Fiscal Year End (Reporting period for the 10-K)
• 2023-06-30 — Prior Fiscal Year End (For comparative financial analysis)
• 2022-06-30 — Prior Fiscal Year End (For comparative financial analysis)

Key Players & Entities

• Legacy Education Inc. (company) — Filer of the 10-K
• 2024-06-30 (date) — Fiscal year end
• Temecula, CA (location) — Company headquarters
• 8200 (other) — Standard Industrial Classification code for Educational Services

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value LGCY NYSE American LLC
• $4.00 — s of September 30, 2024, based upon the $4.00 per share closing price of the registra
• $100 — ing membership interest upon payment of $100, which was exercised on September 15, 2

Filing Documents

• form10-k.htm (10-K) — 1748KB
• ex14-1.htm (EX-14.1) — 151KB
• ex23-1.htm (EX-23.1) — 5KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 9KB
• ex97-1.htm (EX-97.1) — 67KB
• 0001493152-24-038926.txt ( ) — 7033KB
• lgcy-20240630.xsd (EX-101.SCH) — 50KB
• lgcy-20240630_cal.xml (EX-101.CAL) — 85KB
• lgcy-20240630_def.xml (EX-101.DEF) — 145KB
• lgcy-20240630_lab.xml (EX-101.LAB) — 442KB
• lgcy-20240630_pre.xml (EX-101.PRE) — 348KB
• form10-k_htm.xml (XML) — 738KB

Business

Business 6 Item 1A. Risk Factors 39 Item 1B. Unresolved Staff Comments 63 Item 1C. Cybersecurity 63 Item 2.

Properties

Properties 63 Item 3.

Legal Proceedings

Legal Proceedings 63 Item 4. Mine Safety Disclosures 63 Part II Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 64 Item 6. [Reserved] 64 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 64 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 72 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 73 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 74 Item 9A.

Controls and Procedures

Controls and Procedures 74 Item 9B. Other Information 74 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 74 Part III Item 10. Directors, Executive Officers and Corporate Governance 75 Item 11.

Executive Compensation

Executive Compensation 78 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 84 Item 13. Certain Relationships and Related Transactions, and Director Independence 86 Item 14. Principal Accountant Fees and Services 87 Part IV Item 15. Exhibits and Financial Statement Schedules 88 Item 16. Form 10-K Summary 88

Signatures

Signatures 89 2 CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by such forward-looking terminology as "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of these terms or other comparable terminology. Our forward-looking statements are based on a series of expectations, assumptions, estimates and projections about our company, are not guarantees of future results or performance and involve substantial risks and uncertainty. We may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements. Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the risks and uncertainties inherent in our statements regarding: compliance with the extensive existing regulatory framework applicable to our industry or our failure to timely obtain and maintain regulatory approvals and accreditation; ; compliance with continuous changes in applicable federal laws and regulations including pending rulemaking by the U.S. Department of Education ; the effect of current and future Title IV Program regulations arising out of negotiated rulemakings, including any potential reductions in funding or restrictions on the use of funds received through Title IV Programs; successful updating and expansion of the content of existing programs and developing new programs in a cost-effective manner or on a timely basis; uncertainties r

View Full Filing

View this 10-K filing on SEC EDGAR