Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 27

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 Company.

 Schedule
of Bank Loans

    March
    31, 2025  
    June
    30, 2024 
  
    Bank
    loan #1, monthly payment $803.69, due in 110 months, effective interest rate 6.44% 
    $19,604  
    $24,447 
  
    Bank
    loan #2, monthly payment $5,672.86 start on November 23, 2020, due in 48 months 
     -  
     21,495 
  
    Total
    bank loans 
    $19,604  
    $45,942 

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

    2025
    (1) 
    $869,314 
  
    2026 
     67,118 
  
    2027 
     60,664 
  
    2028 
     27,024 
  
    Long-term
    debt 
     1,024,120 
  
    Less:
    current portion (1) 
     (917,266)
  
    Long-term
    portion of debt 
    $106,854 

    (1)
    Includes
    $50,000 related party debt

    F-16

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
The Three and Nine Months ended March 31, 2025 and 2024

(Unaudited)

Note
11 - Related Party Transactions

A
shareholder of the Company was paid $22,500
and $67,500
as consulting fees in the three and nine months ended March 31, 2025 and 2024, respectively.

A
director of the Company was paid $24,000 and $103,200, respectively, as consulting fees in the three and nine months ended March 31,
2025 and was paid $19,500 and $58,500, respectively, as consulting fees in the three and nine months ended March 31, 2024.

A company controlled by a director of the Company was paid $37,950 and $124,395, respectively, as consulting fees
in the three and nine months ended March 31, 2025 and was paid $25,