Legacy Education Inc. / "Long-term" | Tables in SEC filings

LGCY Legacy Education Inc.

Quarterly report

	December 31, 2024 (Unaudited)		June 30, 2024 *

ASSETS
Current assets
Cash and cash equivalents	$	16,869,726	$	10,376,149
Accounts receivable, net of $2,310,423 and $688,848 allowance for doubtful accounts as of December 31, 2024 and June 30, 2024, respectively		13,550,852		13,038,241
Prepaid expenses		1,282,952		1,032,325
Other receivables		156,928		140,894
Total current assets		31,860,458		24,587,609

Property and equipment, net		1,767,220		989,952
Operating lease right-of-use asset		14,721,700		3,575,369
Financing lease right-of-use asset		328,713		340,048
Intangible assets		3,652,441		1,054,947
Goodwill		6,625,383		1,929,326
Accounts receivable, long-term		1,712,828		1,381,194
Deferred income tax assets		898,000		898,000
Security deposits		503,133		416,605
Total assets	$	62,069,876	$	35,173,050

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued liabilities	$	4,583,748	$	3,862,895
Accrued income tax payable		155,949		1,443,335
Deferred, unearned tuition		4,581,460		2,585,747
Other current liabilities		23,521		24,201
Current portion of debt		965,546		574,244
Debt owed, related party		50,000		50,000
Current portion of financing lease		60,559		57,260
Current portion of operating lease liability		2,512,695		1,868,560
Total current liabilities		12,933,478		10,466,242

Debt, net of current portion		123,203		123,862
Financing lease, net of current portion		143,303		215,409
Other liabilities		46		905
Operating lease liability, net of current portion		12,455,416		1,947,620
Total liabilities		25,655,446		12,754,038

Commitments and contingencies		-		-

Stockholders’ equity
Preferred stock: $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding		-		-
Common stock: $0.001 par value, 100,000,000 shares authorized, 12,373,112 and 9,291,149 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively		12,373		9,291
Additional paid in capital		26,688,788		16,186,251
Retained earnings		9,713,269		6,223,470
Total stockholders’ equity		36,414,430		22,419,012
Total liabilities and stockholders’ equity	$	62,069,876	$	35,173,050


2025 (1)	$	983,943
2026		67,118
2027		60,664
2028		27,024
Long-term debt		1,138,749
Less: current portion (1)		(1,015,546)
Long-term portion of debt	$	123,203


2025	-
2026		81,459
2027		81,459
Thereafter		81,458
Total minimum payments		244,376
Less: amount representing interest		(40,514)
Present value of minimum payments	$	203,862
Less: current portion		(60,559)
Long term portion	$	143,303


2025	$	1,745,795
2026		3,026,432
2027		2,126,398
2028		1,954,026
2029		1,876,893
After 2029		8,956,056
Total future minimum operating lease payments		19,685,600
Less: imputed interest		(4,717,489)
Total		14,968,111
Current portion of operating lease		2,512,695
Long term portion of operating lease	$	12,455,416


2025	$	1,786,450
2026		2,084,138
2027		1,155,836
2028		830,612
2029		847,224
After 2029		2,719,747
Total future minimum operating lease payments		9,424,007
Less: imputed interest		(837,235)
Total		8,586,772
Current portion of operating lease		2,190,714
Long term portion of operating lease	$	6,396,058

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