Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
Jun. 30, 2026 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Reclassification on the Consolidated Statement of Cash Flows |
The
effect of the reclassification on the consolidated statement of cash flows for the year ended June 30, 2025 is as follows:
Schedule
of Reclassification on the Consolidated Statement of Cash Flows
| Year ended June 30, 2025 | |
As Previously Reported | | |
Effect of Reclassification | | |
As Reclassified | |
| Year ended June 30, 2025 | |
As Previously Reported | | |
Effect of Reclassification | | |
As Reclassified | |
| Provision for credit losses (a) | |
$ | 2,529,500 | | |
$ | 877,775 | | |
$ | 3,407,275 | |
| Accounts receivable, net (b) | |
| (2,993,192 | ) | |
| (877,775 | ) | |
| (3,870,967 | ) |
| Net cash provided by operating activities | |
$ | 7,768,239 | | |
$ | — | | |
$ | 7,768,239 | |
| (a) | | Previously captioned
“Provision for allowance for doubtful accounts for accounts receivable and contracts receivable.” |
| (b) | | Previously captioned
“Accounts receivable.” |
|
| Schedule of Disaggregation of Revenue |
The
tuition and related revenue consist of the following during the years ended June 30, 2026 and 2025:
Schedule of Disaggregation
of Revenue
| | |
2026 | | |
2025 | |
| Tuition and lab fees (recognized over time) | |
$ | 70,289,146 | | |
$ | 56,906,769 | |
| Books, registration and other fees (recognized at a point in time) | |
| 9,767,048 | | |
| 7,261,256 | |
| Total revenue | |
$ | 80,056,194 | | |
$ | 64,168,025 | |
|
| Schedule of Allowance for Credit Losses |
The
following table presents a roll forward of the allowance for credit losses for the fiscal years presented:
Schedule
of Allowance for Credit Losses
| | |
June 30, 2026 | | |
June 30, 2025 | |
| Beginning balance | |
$ | 1,641,052 | | |
$ | 688,848 | |
| Allowance acquired on acquisition (1) | |
| - | | |
| 44,279 | |
| Provision for credit losses | |
| 3,992,359 | | |
| 3,407,275 | |
| Write-offs | |
| (3,716,346 | ) | |
| (2,499,750 | ) |
| Recoveries | |
| 77,427 | | |
| 400 | |
| Ending balance | |
$ | 1,994,492 | | |
$ | 1,641,052 | |
| (1) | Represents
allowance for credit losses acquired in connection with the acquisition of CCMCC on December 18, 2024. As part of the acquisition,
the Company acquired gross accounts receivable of approximately $2.18 million and an associated allowance for credit losses of
approximately $44 thousand, resulting in net acquired accounts receivable of approximately $2.13 million. |
|
| Schedule of Reconciliation of Basic and Diluted |
The
following table provides a reconciliation of the numerators and denominators used to determine basic and diluted net income per common
share for years ended June 30, 2026 and 2025:
Schedule of Reconciliation of Basic and Diluted
| | |
2026 | | |
2025 | |
| Numerator | |
| | | |
| | |
| Net income | |
$ | 9,139,483 | | |
$ | 7,534,232 | |
| | |
| | | |
| | |
| Denominator | |
| | | |
| | |
| Weighted-average shares outstanding, basic | |
| 12,599,955 | | |
| 11,581,383 | |
| Common stock warrants | |
| - | | |
| 55,583 | |
| Dilutive impact of share-based instruments | |
| 1,335,982 | | |
| 1,048,070 | |
| Weighted-average shares outstanding, diluted | |
| 13,935,937 | | |
| 12,685,036 | |
| | |
| | | |
| | |
| Net income per share | |
| | | |
| | |
| Basic | |
$ | 0.73 | | |
$ | 0.65 | |
| Diluted | |
$ | 0.66 | | |
$ | 0.59 | |
|