Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 72

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 Current and other assets 
    $682,689 
  
    Property and equipment 
     483,036 
  
    Total assets acquired 
     1,165,725 
  
    Liabilities assumed (excluding debt - see Note
    9) 
     (928,702)
  
    Net assets acquired 
    $237,023 

    Purchase price 
    $7,533,080 

    Trade name 
    $1,900,000 

    Accreditation 

    200,000

    Course Curriculum

    500,000

    Goodwill

    4,696,057

    Total excess purchase price 
     
    $
    7,296,057

    F-12

Legacy
Education Inc.

Notes
to Consolidated Financial Statements

For
The Three and Six Months ended December 31, 2024 and 2023

(Unaudited)

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.

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

    2024  
    2023  
    2024  
    2023 

    For
                                            the Three Months Ended December
                                            31,  
    For
                                            the Six Months Ended December
                                            31, 

    2024  
    2023  
    2024  
    2023 

    Revenue 
    $15,609,737  
     12,247,693  
    $31,652,641  
    $24,608,178 
  
    Net income 
     1,947,501  
     1,081,549  
     4,290,232  
     2,516,001 

The
pro forma financial information presented above has been prepared by combining the Company’s historical results and the historical
results of CCMCC and adjusting those results to reflect the effects of the acquisition as if