Current Report Filing (8-k)
December 05 2019 - 5:15PM
Edgar (US Regulatory)
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):
November 28, 2019
LEGACY EDUCATION ALLIANCE, INC.
(Exact name of registrant as specified in its
charter)
Nevada
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000-55790
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39-2079974
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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1612 Cape Coral Parkway East, Cape Coral, Florida
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33904
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including
area code: (239) 542-0643
(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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
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Securities registered pursuant to Section 12(b)
of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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N/A
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N/A
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N/A
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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. ☐
Item 1.03. Bankruptcy or Receivership
As previously disclosed, on October 28, 2019, four creditors
of Legacy Education Alliance International Ltd. (“Legacy UK”), one of the Company’s UK subsidiaries, obtained
an order from the High Court of Justice, Business and Property Courts of England and Wales (the “English Court”) with
respect to the business and affairs of Legacy UK. Pursuant to the previously disclosed Administration Order of November
15, 2019, from the English Court, the two individuals appointed as administrators engaged a third-party to market Legacy UK’s
business and assets for sale to one or more third parties. The Company has been informed that a sale has occurred but other
than the name of the purchaser, Mayflower Alliance Ltd., has not been provided any details of the transaction. U.K. counsel
has advised the Company that further details, including the sale price, assets sold, the status of claims and liabilities, and
other information regarding the transaction may not be forthcoming for several months. Accordingly, management is unable
to evaluate the operational and financial impact and ramifications of the transaction on the Company at this time. The Company
is considering its alternatives for future operations in the United Kingdom and is continuing to conduct business outside the
United States through its other foreign subsidiaries in Canada, Hong Kong, Australia, and South Africa.
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.
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LEGACY EDUCATION ALLIANCE, INC.
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Date: December 5,
2019
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By:
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/s/ James E. May
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Name: James E. May
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Title: Chief Executive Officer
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