Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 760

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 4
Chunk 760
---
 (40,273) 
     (27,353)
  
    Intangibles net 
    $10,710,103  
    $2,984,273 

As
of June 30, 2025 and June 30, 2024, no
impairment of the Company’s goodwill, nor other intangibles
with an indefinite life was required related to its previous acquisitions of CCC, Integrity and CCMCC. The Company recognized $12,920
and $5,011, respectively, in amortization expense for years ended June 30, 2025 and 2024. Although
the ACCET accreditation has an indefinite life, the accreditation requires renewal every five years. CCC’s ACCET accreditation
was most recently renewed in April 2025 and its next renewal is in April 2030. CCMCC’s
accreditation was most recently renewed in April 2022 and its next renewal is in April 2026. Although
ABHES accreditation has an indefinite life, the accreditation requires renewal every five years. Integrity’s next ABHES accreditation
renewal is in February 2026. 100%
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