Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 497

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1B
Chunk 497
---
    Non-cash purchase of financed lease assets 
    $-  
    $340,048 
  
    Non-cash purchase of equipment 
    $567,451  
    $145,694 
  
    Prepaid expense reclassifies to offering cost 
    $276,866  
    $- 
  
    Common stock issued as part of APA 
    $1,000,000  
    $- 
  
    Promissory note under APA 
    $400,000  
    $- 
  
    Net identifiable assets acquired under APA 
    $(205,670) 
    $- 

The
accompanying notes are an integral part of these consolidated financial statements.

F-6

Legacy
Education Inc.

Notes
to Consolidated Financial Statements

For
Fiscal Years ended June 30, 2025 and 2024

Note
1 - Nature of Business

For
purposes of these financial statements, “Legacy,” the “Company,” “we,” “our,”
“us,” or similar references refers to Legacy Education Inc. and its consolidated subsidiaries, unless the context
requires otherwise. Legacy Education, LLC was formed on October 19, 2009 in the state of California as a limited liability company.
The Company operates as a career institution that focuses on real-life training by utilizing educational practices in different job
markets. The Company offers programs in career paths such as healthcare, veterinary, medical information technology, business
management, and green technology. The Company’s institutions are accredited by the Accrediting Council for Continuing
Education and Training (“ACCET”) or the Accrediting Bureau of Health Education Schools (“ABHES”) and
approved to operate in the state of California by the Bureau for Private Postsecondary Education (“BPPE”). The
consolidated financial statements include accounts of Legacy Education Inc. d/b/a High Desert Medical College (“HDMC”)
and its wholly-owned subsidiary, Legacy Education Monterey LLC (“Monterey”) d/b/a Central Coast College
(“CCC”), its wholly-owned subsidiary, Advanced Health Services, LLC d/b/a Integrity College of Health
(“Integrity”) and Legacy Education Antioch, LLC (“Antioch”) d/b/a Contra Costa Medical Career College
(“CCMCC”). Pursuant to an Agreement and Plan of Merger and Reorganization (the “Reorganization Merger”),
dated September 1, 2021, effective as of September 3, 2021