Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 84

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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.74  
     1.84  
     10.00 
  
    Options expired 
     -  
     -  
     -  
     - 
  
    Options exercised 
     -  
     -  
     -  
     - 
  
    Balance – June 30, 2024, unvested 
     437,637  
    $3.74  
     1.84  
     9.75 
  
    Options issued 
     250,000  
     4.00  
     1.94  
     10.00 
  
    Options vested 
     (130,242) 
     3.78  
     1.86  

    Options expired 
     -  
     -  
     -  
     - 
  
    Balance – December 31, 2024, unvested 
     557,395  
    $3.85  
    $1.88  
     9.48 

The
Company valued options issued in April 2024 using the Black Scholes model utilizing volatility 45%, and a risk-free rate of 4.18%. The
fair value of the options was $1.84 per option.

The
Company valued options issued in September 2024 using the Black Scholes model utilizing volatility 45%, and a risk-free rate of 3.75%.
The fair value of the options was $1.94 per option.

The
Company recorded share-based compensation expense of $109,157 and $176,188 during the three and six months ended December 31, 2024, which
is included in educational services. Unamortized compensation expense associated with unvested options is $1,045,157 and $737,333 as
of December 31, 2024 and June 30, 2024, respectively. The weighted average period over which these costs are expected to be recognized
is approximately 2.45 and 2.75 years.

Note
15 - Other Commitments and Contingency

Regulatory

In
order for students to participate in Title IV federal financial aid programs, the Company is required to maintain certain standards of
financial responsibility and administrative capability. In addition, the Company is accredited with ACCET and ABHES and approved by other
agencies and must