Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 7

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
 of equipment 
    $39,275  
    $61,110 
  
    Prepaid
    expense reclassifies to offering cost 
    $276,866  
    $- 
  
    Common
    stock issued as part of APA 
    $1,000,000  
    $- 
  
    Promissory
    note under APA 
    $400,000  
    $- 
  
    Net
    identifiable assets acquired under APA 
    $267,136  
    $- 

The
accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-5

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
The Three and Nine Months ended March 31, 2025 and 2024

(Unaudited)

Note
1 - Nature of Business

For
purposes of these financial statements, “Legacy,”, the “Company,” “we,” “our,”
“us,” or similar references refers to Legacy Education Inc. and its consolidated subsidiaries, unless the context
requires otherwise. Legacy Education, LLC was formed on October 19, 2009 in the state of California as a limited liability company.
The Company operates as career institution that focuses on real-life training by utilizing educational practices in different job
markets. The Company offers programs in career paths such as healthcare, veterinary, medical information technology, business
management, and green technology. The Company is accredited by the Accrediting Council for Continuing Education and Training
(“ACCET”), and the Accrediting Bureau of Health Education Schools (“ABHES”) and approved to operate in the
state of California by the Bureau for Private Postsecondary Education (“BPPE”). The consolidated financial statements
include accounts of Legacy Education Inc. d/b/a High Desert Medical College (“HDMC”) and its wholly owned subsidiary,
Legacy Education Monterey LLC (“Monterey”) d/b/a Central Coast College (“CCC”), its wholly owned subsidiary,
Advanced Health Services, LLC d/b/a Integrity College of Health (“Integrity”) and Legacy Education Antioch, LLC (Antioch) d/b/a Contra Costa Medical Career College (“CCMCC”). Pursuant to an Agreement and Plan of
Merger and Reorganization (the “Reorganization Merger”), dated September 1, 2021, effective as of September 3, 2021 (the
“Effective Date”), Legacy Education Merger Sub, LLC, a wholly