Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 450

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1A
Chunk 450
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%
of goodwill is expected to be deductible for federal income tax purposes and will be amortized over 15
years on a straight-line basis.

    F-14

 Legacy
Education Inc.

Notes to Consolidated Financial Statements

For Fiscal Years ended June 30, 2025 and 2024

Note
5 - Property and Equipment

Property
and equipment consist of the following:

 Schedule
of Property and Equipment

    June 30, 2025  
    June 30, 2024 
  
    Leasehold improvements 
    $1,299,825  
    $561,108 
  
    Machinery and equipment 
     1,389,417  
     1,032,286 
  
    Computer equipment 
     1,427,842  
     704,846 
  
    Furniture, fixtures and other equipment 
     342,886  
     266,923 
  
    Total 
     4,459,970  
     2,565,163 
  
    Property
and equipment gross 
     4,459,970  
     2,565,163 

    Less accumulated depreciation and amortization 
     (1,975,666) 
     (1,575,211)
  
    Property and equipment, net 
    $2,484,304  
    $989,952 

Depreciation
and amortization expense associated with property and equipment totaled $400,455 and $260,025 for years ended June 30, 2025 and 2024,
respectively.

Note
6 – Accounts Receivable, Long-Term

TuitionFlex

The
TuitionFlex Program is designed to create a flexible tuition credit program for students and families to help bridge the financial gap,
all in accordance with applicable federal Truth-In-Lending regulations. Through this program, we offer payment plans to all students,
regardless of financial need, for up to 5 years. The long-term portion of student receivables utilizing the TuitionFlex program was $1,966,137
and $1,381,194 as of June 30, 2025 and June 30, 2024, respectively.

Note
7 – Prepaid Expenses

The
prepaid expenses consist of the following as of June 30, 2025 and June 30, 2024:

Schedule
of Prepaid Expenses

    June 30, 2025