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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Legacy Education Alliance Inc (QB) | USOTC:LEAI | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.024 | 20.69% | 0.14 | 0.104 | 0.1628 | 0.14 | 0.111 | 0.111 | 4,300 | 21:01:38 |
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 26, 2022
LEGACY EDUCATION ALLIANCE, INC.
(Exact name of registrant as specified in its charter)
Nevada | 000-55790 | 39-2079974 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1490 N.E. Pine Island Road, Suite 5D Cape Coral, Florida |
33909 | |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (239) 542-0643
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
N/A | N/A | N/A |
Item 2.04 | Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement |
On July 26, 2022, Legacy Education Alliance, Inc. (the “Company”) received notice that $932,455.90 in principal and interest under its April 2020 loan (the “PPP Loan”) through the Small Business Administration (“SBA”) Paycheck Protection Program established pursuant to the CARES Act, is now due and owing as a result of a 60-day delinquency in payment. With the past due amount of $85,969.14, the total amount due and owing is $1,018.425.04. The Company was informed that, per SBA guidelines, it is now required to pay back the PPP Loan in full, including both the principal loan amount and interest that has accrued on the PPP Loan.
Item 7.01 | Regulation FD Disclosure. |
On August 1, 2022, the Company released an updated presentation highlighting its focus on impact investing.
The presentation, which is furnished as Exhibit 99.1 to this Current Report on Form 8-K, is incorporated herein by reference. The contents of this Item 7.01 and Exhibit 99.1 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This report will not be deemed an admission as to the materiality of any information in this Item 7.01 (including Exhibit 99.1).
Item 9.01 | Financial Statements and Exhibits. |
Exhibit | Description | |
99.1 | Company Presentation | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LEGACY EDUCATION ALLIANCE, INC. | ||
Date: August 1, 2022 | By: | /s/ Barry Kostiner |
Name: |
Barry Kostiner | |
Title: | Interim Chief Executive Officer |
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