Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 7

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 effective
as of September 3, 2021 (the “Effective Date”), Legacy Education Merger Sub, LLC, a wholly owned subsidiary of Legacy Education
Inc. formed solely for the purpose of implementing the Reorganization Merger, merged with and into Legacy Education, LLC, with Legacy
Education, LLC surviving the merger and becoming a wholly owned subsidiary of Legacy Education Inc., a corporation formed on March 18,
2020 in the State of Nevada for the sole purpose of restructuring the Company from a member-owned Limited Liability Corporation to a
shareholder-owned C-Corporation. On the Effective Date, in exchange for each Class A Unit owned in Legacy Education, LLC, the members
of Legacy Education, LLC received one share of common stock in Legacy Education Inc. in a one for one exchange. The members immediately
prior to the Reorganization Merger became the 100% owners of Legacy Education Inc. immediately following the Reorganization Merger.

HDMC
offers instruction in thirty-three programs including ultrasound technician, ultrasound technician associate of applied science degree,
medical billing and coding, vocational nursing, clinical medical assisting, pharmacy technician, dental assisting, medical administrative
vocational nursing associate of applied science degree and registered nursing

CCC,
a wholly-owned subsidiary of HDMC, offers instruction in healthcare career training programs, and veterinary career training.

Integrity,
a wholly-owned subsidiary of HDMC, is an accredited college offering instruction in medical assisting, vocational nursing, medical insurance
coding and billing, diagnostic medical sonography (ultrasound technician) and Bachelors of Science in nursing (RN to BSN).

On
October 17, 2024, Legacy Education Antioch, LLC (Antioch), a wholly owned subsidiary of HDMC, was formed as a California limited liability
company. On October 22, 2024, Antioch and Parent Company entered into an Asset Purchase Agreement (APA) with Contra Costa Medical Career
College, Inc. (CCMCC), a California corporation, further described in Note 3. Antioch has registered with the state of California to
conduct business under the name Contra Costa Medical Career College. CCMCC is accredited by ACCET and has been granted temporary approval
to participate in the Financial Student Aid programs by the Department of Education (ED) following the consummation of the transactions
contemplated in the APA, which occurred on December 18, 2024.

The
accompanying consolidated financial statements, and