Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 20

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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3  
    2024  
    2023 

    For
                                            the Three Months Ended December
                                            31,  
    For
                                            the Six Months Ended December
                                            31, 

    2024  
    2023  
    2024  
    2023 

    Revenue 
    $15,609,737  
     12,247,693  
    $31,652,641  
    $24,608,178 
  
    Net income 
     1,947,501  
     1,081,549  
     4,290,232  
     2,516,001 

The
pro forma financial information presented above has been prepared by combining the Company’s historical results and the historical
results of CCMCC and adjusting those results to reflect the effects of the acquisition as if it occurred on July 1, 2023. These results
do not purport to be indicative of the results of operations had the acquisition occurred on the date indicated above, or that may result
in the future, and do not reflect potential synergies or additional costs following the acquisition.

Note
4 - Intangible Assets

The
intangibles consisted of the following as of December 31, 2024 and June 30, 2024:

 Schedule
of Intangible Assets

    December
    31, 2024  
    June
    30, 2024 
  
    Goodwill 
    $6,625,383  
    $1,929,326 
  
    Trade name 
     2,696,100  
     796,100 
  
    Accreditation 
     288,200  
     88,200 
  
    Course curriculum 
     698,000  
     198,000 
  
    Total cost of intangibles 
    $10,307,683  
    $3,011,626 
  
    Less accumulated amortization 
     (29,859) 
     (27,353)
  
    Intangibles net 
    $10,277,824  
    $2,984,273 

As
of December 31, 2024 and June 30, 2024, no
impairment of the Company’s goodwill, nor other intangibles with an indefinite life was required related to its previous