Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 80

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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029, respectively.

    F-16

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

    (3)
    CCMCC
    acquisition Seller Loan

As
part of the acquisition described in Note 3, Antioch issued the seller of CCMCC a promissory note in the principal amount of $400,000.
Under the terms of the note, interest shall accrue at 6% and shall be repaid in twelve equal monthly payments of principal and interest.
As of September 30, 2025 and June 30, 2025, the principal balance of the promissory note of $102,255 and $202,992, respectively, is presented
as a current liability on the accompanying consolidated balance sheet.

Future
maturities over the remaining term of total debt for (1) to (3) are as follows:

 Schedule
of Future Maturities over  Remaining Term of Debt

    2026 (1) 
    $696,483 
  
    2027 
     53,351 
  
    2028 
     27,022 
  
    Long-term
    debt 
     776,856 
  
    Less: current portion (1) 
     (711,944)
  
    Long-term portion of debt 
    $64,912 

    (1)
    Includes
    $50,000 related party debt

Note
11 - Related Party Transactions

A
shareholder of the Company was paid $22,500 and $22,500 as consulting fees in the three months ended September 30, 2025 and 2024, respectively.

A
director of the Company was paid $61,100 and $19,500, respectively, as consulting fees in the three months ended September 30, 2025 and
2024, respectively.

A
company controlled by a director of the Company was paid $25,950 and $25,950, respectively, as consulting fees during the three months
ended September 30, 2025 and 2024, respectively.

Director’s
fees of $17,500, $13,750, and $10,000, respectively, were paid to 3 individual directors in the three months ended September 30, 2025.
During the three months ended September 30, 2024, each director