Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 228

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 7A
Chunk 228
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 at June 30, 2025 was as follows:

Schedule
of Future Minimum Operating Lease Payments

    2026 
    $3,304,306 
  
    2027 
     2,591,045 
  
    2028 
     2,525,777 
  
    2029 
     2,414,604 
  
    2030 
     2,475,882 
  
    After 2030 
     7,336,011 
  
    Total future minimum operating lease payments 
     20,647,625 
  
    Less: imputed interest 
     (4,593,403)
  
    Total 
     16,054,222 
  
    Current portion of operating lease 
     2,306,061 
  
    Long term portion of operating lease 
    $13,748,161 

Total
rent expense and related taxes and operating expenses under operating leases for the years ended June 30, 2025 and 2024 were $4,483,574
and $3,368,780, respectively.

    F-18

 Legacy
Education Inc.

Notes to Consolidated Financial Statements

For Fiscal Years ended June 30, 2025 and 2024

Supplemental
balance sheet information related to leases was as follows:

Schedule
of Balance Sheet Information Related to Leases

    June 30, 2025  
    June 30, 2024 

    Operating lease right-of-use assets 
    $15,781,177  
    $3,575,369 

    Operating lease liability - current 
    $2,306,061  
    $1,868,560 
  
    Operating lease liability – non-current 
     13,748,161  
     1,947,620 
  
    Total operating lease liability 
    $16,054,222  
    $3,816,180 

Other
supplemental information:

Schedule
of Other supplemental Information

    2025  
    2024 

    For the years ended June 30, 

    2025  
    2024 
  
    Cash paid for operating lease 
    $2,998,952  
    $1,900,505 

Note
13 – Stockholders’ Equity

Reverse
Stock Split

On
September 9, 2024, the Company’s