Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 121

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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 of the target is allocated
to the identifiable assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The excess
estimated fair values of the identifiable net assets over the amount paid was $7,738,750 which has been allocated between goodwill and
other intangible assets and is included on the accompanying consolidated balance sheet.

The
following is a summary of the estimated fair values of the assets acquired and liabilities assumed at the date of the acquisition:

 Schedule of Assets and Liabilities Acquisition

    Current and other assets 
    $2,157,783 
  
    Property and equipment 
     483,036 
  
    Total assets acquired 
     2,640,819 
  
    Liabilities assumed (excluding debt - see Note
    9) 
     (2,846,489)
  
    Net assets acquired 
    $(205,670)

    Purchase price 
    $7,533,080 

    Trade name 
    $940,000 
  
    Accreditation 
     1,730,000 
  
    Course Curriculum 
     146,000 
  
    Goodwill 
     4,922,750 
  
    Total excess purchase price 
    $7,738,750 

The
amounts recorded above related to the acquisition are subject to adjustment as the Company has not yet completed the final allocation
of the purchase price. The Company has one year from the date of acquisition to complete its valuation of assets and liabilities assumed.

    F-13

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

Following
are the supplemental consolidated financial results of the Company and CCMCC on an unaudited pro forma basis, as if the acquisitions
had been consummated as of the beginning of the fiscal year 2024 (i.e., July 1, 2023).

 Schedule of Revenue and Net Income from Subsidiary 

    For
                                            the Years Ended June
                                            30, 

    2025  
    2024 

    Revenue 
    $68,180,441  
    $53,121,798 
  
    Net income 
    $8,838,779  
    $5,294,148 

The
pro forma financial information presented above has been prepared by combining the Company’s historical results and the historical
results of C