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
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)
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