Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 124

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 the following as of September 30, 2025 and June 30, 2025:

Schedule
of Prepaid Expenses

    September 30,
                                                                               2025  
    June 30,
                                                                               2025 
  
    Books 
    $314,811  
    $190,928 
  
    Supplies and other prepaid expenses 
     1,864,331  
     1,192,477 
  
    Total prepaid expenses 
    $2,179,142  
    $1,383,405 

Note
8 – Other Receivables

The
other receivables consist of the following as of September 30, 2025 and June 30, 2025:

Schedule
of Other Receivables

    September 30,
                                                                               2025  
    June 30,
                                                                               2025 
  
    Other advance 
     94,454  
     94,454 
  
    Receivable from CCMCC Seller 
     347,340  
     170,250 
  
    Employee retention credit 
     37,720  
     37,720 
  
    Total other receivables 
    $479,514  
    $302,424 

The
Company paid $106,846 of federal income taxes on behalf of a foreign investor in Legacy in the year ended June 30, 2020, and the amount
due back to the Company as of each of September 30, 2025 and June 30, 2025 was $94,454.

During
the fiscal year ended June 30, 2021, the Company applied for certain Employee Retention Credits (“ERTC”) under the CARES
Act in the approximate amount of $2.9 million. The remaining balance of the ERTC receivable as of September 30, 2025 and June 30, 2025was
$37,720.

Note
9 – Accounts Payable and Accrued Liabilities

Accounts
payable and accrued expenses as of September 30, 2025 and June 30, 2025 consist of the following:

Schedule
of Accounts Payable and Accrued Expenses

    September
                                            30,
                                                                               2025  
    June 30,
                                                                               2025 
  
    Accounts payable 
    $1,714,314  
    $1,391,620 
  
    Accrued payroll and