Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 76

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 depreciation and amortization 
     (2,086,090) 
     (1,975,666)
  
    Property and equipment, net 
    $2,620,557  
    $2,484,304 

Depreciation and amortization expense
associated with property and equipment totaled $118,925 and $79,884
for the three months ended September 30, 2025 and 2024, respectively.

    F-14

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

Note
6 – Accounts Receivable, Long-Term

TuitionFlex

The
TuitionFlex Program is designed to create a flexible tuition credit program for students and families to help bridge the financial gap,
all in accordance with applicable federal Truth-In-Lending regulations. Through this program, we offer payment plans to all students,
regardless of financial need, for up to 5 years. The long-term portion of student receivables utilizing the TuitionFlex program was $1,963,586
and $1,966,137 as of September 30, 2025 and June 30, 2025, respectively.

Note
7 – Prepaid Expenses

The
prepaid expenses consist of the following as of September 30, 2025 and June 30, 2025:

Schedule
of Prepaid Expenses

    September 30,
                                                                               2025  
    June 30,
                                                                               2025 
  
    Books 
    $314,811  
    $190,928 
  
    Supplies and other prepaid expenses 
     1,864,331  
     1,192,477 
  
    Total prepaid expenses 
    $2,179,142  
    $1,383,405 

Note
8 – Other Receivables

The
other receivables consist of the following as of September 30, 2025 and June 30, 2025:

Schedule
of Other Receivables

    September 30,
                                                                               2025  
    June 30,
                                                                               2025 
  
    Other advance 
     94,454  
     94,454 
  
    Receivable from CCMCC Seller 
     347,340  
     170,250 
  
    Employee retention credit 
     37,720  
     37