Plan is to Build an Ecosystem for Digital Content Creation and Community Engagement
CAPE CORAL, FL – August , 2023 — Legacy Education Alliance, Inc. (OTCQB: LEAI) announced today that Legacy Live, a subsidiary of LEAI, executed a non-binding LOI for the acquisition of Breakout, an emerging Audio Social Network (ASN) founded in 2021. According to Breakout’s website (https://www.breakout.fm/), Breakout allows users to “Link up with influencers, industry leaders, and meet people globally to share interests, stories and opportunities.”
Jerry Conti, the CEO of Legacy Live, stated, “By acquiring Breakout, we would be poised for rapid growth by creating an empowering ecosystem that enables subject matter experts and influencers to foster, cultivate, and connect with their communities. The acquisition, upon completion, is expected to provide users access to live speakers, on-demand content, and dynamic peer-to-peer engagement, promoting impact, education and community.”
Cody Harvey, the Founder and CEO of Breakout, commented, “Breakout has already distinguished itself in the Audio Social Platform landscape. With a strong reputation for facilitating meaningful interactions and discussions, building on the strength of its technology platform and influencer community, we believe that we are positioned for rapid scaling. The merger with Legacy Live is intended to further fortify Breakout’s standing and amplify its capabilities, offering users an unparalleled experience in the world of interactive audio content.”
“We’re thrilled to announce this first step towards the acquisition of Breakout by Legacy Live,” stated Jerry Conti. “Upon completion, this synergy is expected to mark a significant step in our pursuit to provide a platform that nurtures engagement, knowledge sharing, and personal growth. By combining Breakout’s technology platform with Legacy Live’s resources, we would be creating a unique ecosystem designed to empowers influencers and subject matter experts to foster vibrant communities.”
Barry Kostiner, CEO of LEAI, stated, “As the world continues to embrace digital communities and audio-based interactions, Legacy Live’s planned acquisition of Breakout is expected to position the company at the forefront of the evolving landscape. The journey ahead holds promise and potential for users seeking to engage, learn, and connect in an immersive audio environment.”
Andrew McDonald, advisor to Legacy Education, commented, “Legacy Live’s conservative goal, with the planned acquisition of Breakout, is to close a financing round by year end, with a goal to list Legacy Live on Nasdaq within 18 months. This strategic plan not only underscores Legacy Live’s commitment to providing a cutting-edge content and community engagement platform, but also demonstrates its confidence in the potential for exponential growth.”
Paul Clewell, Chief Operating Officer for Legacy Live, commented, “7 out of 10 of the largest companies are platform companies. I have had the privilege of coaching entrepreneurs on the 10X paradigm. By integrating a social media technology platform company, we expect to go beyond what can be achieved through mentoring, live events and traditional education businesses. I am excited to be able to take my decades of experience in coaching entrepreneurs and investors from my personal experience of thousands, to using the liberation of technology to potentially touch millions.”
Jessie Hale, the Founder of Twlv20 and Chief Digital Marketing Officer for Legacy Live, commented, “I have built an impressive team of digital marketing and technology talent both in the US and Philippines. In combination with Cody’s vision and his Indian technology resources, upon the acquisition of Breakout, we expect that we would have the tools to go way beyond the current vision of Breakout and Legacy Live as stand alone businesses. I believe that the vision of education businesses resting on the foundation of technology and digital marketing, wrapped by an engaged digital community platform, is a recipe for great success.”
Cody Harvey commented, “We have built a powerful social media platform that addresses the issues of several of our larger peers. By combining our platform with Legacy Live, we expect to be in a position to offer a diverse range of live speakers, thought-provoking discussions, and engaging on-demand content. This planned comprehensive content mix would cater to a wide spectrum of interests, enabling users to engage in meaningful conversations and learn from experts in their respective fields. From business and technology to arts and culture, users are expected to have access to a diverse array of topics that align with their passions and interests. We are passionate about providing a platform that exceeds the expectations of both our customers and our investors.”
The acquisition of Breakout by Legacy Live is in the early stages. The Letter of Intent between Legacy Live and Breakout is non-binding and subject to numerous conditions, including the negotiation and execution of definitive documents to memorialize the acquisition, as well as financing contingencies prior to the consummation of any such acquisition transaction.
Additional Information:
- Legacy Education Corporate Presentation
https://ir.legacyeducationalliance.com/presentations - LinkedIn Posts: https://www.linkedin.com/in/barry-kostiner/recent-activity/shares/
Investor Relations Contact:
Barry Kostiner
(239) 542-0643
Company Website: www.legacyeducation.com
About Legacy Education Alliance Inc.
Legacy Education Alliance, Inc. (OTCQB: LEAI) provides accredited online degree completion programs and practical, high-quality, and value-based educational training on personal finance, entrepreneurship, trading and real estate investing strategies and techniques. Legacy Education has transitioned to focusing on impactful investing and providing education and career resources to meet growing needs, in addition to serving and growing its customer community established over 26 years.
About Legacy Live Inc.
Legacy Live, a subsidiary of LEAI, is an education and live events business focused on building engaging content ecosystems that foster interactions and community building. Through its planned acquisition of Breakout, Legacy Live aims to redefine the way subject matter experts, influencers, and communities engage in audio-based discussions and content consumption.
About Breakout
Breakout is an Audio Social Platform (ASP) recognized for its innovative approach to facilitating audio-based interactions. With a commitment to meaningful discussions and community engagement, Breakout offers users the opportunity to participate in live conversations, access on-demand content, and connect with experts in various fields.
Forward-Looking Statements
Certain statements made in this press release may involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “aim,” “believe,” “estimate,” “predict,” “potential,” “would” or “continue” or the negative of these terms or other similar expressions. All statements other than statements of historical facts contained in this press release are forward-looking statements. Any forward-looking statements are based on current expectations that involve numerous risks and uncertainties. Our plans and objectives are based, in part, on assumptions and judgments with respect to, among other things, the results projected from the introduction and roll-out of new brands, products and services, expansion into new geographic markets, and combinations with third parties; our ability to satisfy Nasdaq listing requirements and otherwise uplist to Nasdaq; the successful acquisition and operation of complementary and new business lines, including Breakout, of which we can give no assurance of success; the success of entering into, and the success of, joint ventures and other collaborations with third parties on terms and conditions satisfactory to our company; our success in raising capital for operations and to implement our business plan, strategy and initiatives, including the planned acquisition of Breakout; the development of ecommerce capabilities; projections of international growth; projected profitability; our ability to address or manage corruption concerns in certain locations in which we operate; our ability to address and manage cyber-security risks; our ability to protect our intellectual property, on which our business is substantially dependent; our ability to manage our relationships with credit card processors; our expectations regarding the impact of general economic conditions on our business; and the lingering effects of the COVID-19 pandemic on the global and national economies and on our business operations and financial results. Our assumptions used for the purposes of the forward-looking statements represent estimates of future events and are subject to uncertainty as to possible changes in economic, legislative, industry, and other circumstances, including the development, acceptance and sales of our products and our ability to raise additional funding sufficient to implement our strategy. Such forward-looking statements involve assumptions, known and unknown risks, uncertainties, and other important factors that could cause the actual results, performance or our achievements, or industry results, to differ materially from historical results, any future results, or performance or achievements expressed or implied by such forward-looking statements. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this press release. Important factors that could cause our actual results to differ materially from those expressed as forward-looking statements are also set forth in certain of our filings with the Securities and Exchange Commission. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events, changed circumstances or otherwise.
