Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 21

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part II, Item 8
Chunk 21
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 cost of intangibles 
    $10,328,954  
    $10,750,376 
  
    Less accumulated amortization 
     (45,176) 
     (40,273)
  
    Intangibles net 
    $10,283,778  
    $10,710,103 

As
of June 30, 2025 and June 30, 2024, no
impairment of the Company’s goodwill, nor other intangibles with an indefinite life was required related to its previous
acquisitions of CCC, Integrity and CCMCC. The Company recognized $4,903
and $1,253,
respectively, in amortization expense for three months ended September 30, 2025 and 2024. Although
the ACCET accreditation has an indefinite life, the accreditation requires renewal every five years. CCC’s ACCET accreditation
was most recently renewed in April 2025 and its next renewal is in April 2030. CCMCC’s accreditation was most recently
renewed in April 2022 and its next renewal is in April 2026. HDMC’s ACCET accreditation was most recently renewed in April
2024 and its next renewal is in April 2029. Although
ABHES accreditation has an indefinite life, the accreditation requires renewal every five years. Integrity’s next ABHES
accreditation renewal is in February 2026. 100%
of goodwill is expected to be deductible for federal income tax purposes and will be amortized over 15
years on a straight-line basis.

Note
5 - Property and Equipment

Property
and equipment consist of the following:

 Schedule
of Property and Equipment

    September
                                            30,
                                                                               2025  
    June
                                            30,
                                                                               2025 
  
    Leasehold improvements 
    $1,305,863  
    $1,299,825 
  
    Machinery and equipment 
     1,481,678  
     1,389,417 
  
    Computer equipment 
     1,561,151  
     1,427,842 
  
    Furniture, fixtures and other equipment 
     357,955  
     342,886 
  
    Total 
     4,706,647  
     4,459,970 
  
    Property
and equipment gross 
     4,706,647