Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 845

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 6
Chunk 845
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80

ITEM
7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

You
should read the following discussion and analysis of our financial condition and plan of operations together with and our accompanying
consolidated financial statements and the related notes appearing elsewhere in this Annual Report on Form 10-K. In addition to historical
information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our
actual results may differ materially from those discussed below. Factors that could cause or contribute to such differences include,
but are not limited to, those identified below, and those discussed in the section titled “Risk Factors” included elsewhere
in this Annual Report on Form 10-K. All amounts in this report are in U.S. dollars, unless otherwise noted.

Overview

We
provide career-focused, post-secondary education services to students at all stages of adult life, from recent high school graduates
to working parents, through our accredited academic institutions: High Desert Medical College, which we acquired in July 2010, Central
Coast College, which we acquired in January 2019, Contra Costa Medical Career College, which we acquired in December 2024, and Integrity
College of Health. On December 31, 2019, we entered into a Membership Interest Purchase Agreement with the sole member of Integrity.
We purchased from the sole member of Integrity on that date 24.5% of her interest and obtained an exclusive option to acquire her remaining
membership interest upon payment of $100, which was exercised on September 15, 2020. For purposes of our financial statements, the acquisition
of Integrity is deemed to have been effective as of December 31, 2019. As of June 30, 2025, we enrolled 3,101 students.

High
Desert Medical College

HDMC
was established in the State of California in 2002 and began offering classes in 2003. It started with campuses in Lancaster, California,
and added its first branch in 2008 in Bakersfield, California. Due to enrollment growth and high demand for its services, HDMC expanded
to add a branch campus in Temecula, California in order to accommodate 250 to 400 additional students. HDMC offers UT, VN, VN Associate
of Applied Science degree program, Associate Degree of Nursing, nursing assistant, MRI Associate of Applied Science, cardiac sonography,
pharmacy technician, dental assisting, clinical medical