Company: LGCY
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010844
Chunk: 60

Company: Legacy Education Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 60
---
. The members immediately prior to the
Reorganization Merger became the 100%
owners of Legacy Education Inc. immediately following the Reorganization Merger.

HDMC
offers instruction in thirty-three programs including ultrasound technician, ultrasound technician associate of applied science degree,
medical billing and coding, vocational nursing, clinical medical assisting, pharmacy technician, dental assisting, medical administrative
vocational nursing associate of applied science degree and registered nursing

CCC,
a wholly-owned subsidiary of HDMC, offers instruction in healthcare career training programs, and veterinary career training.

Integrity,
a wholly-owned subsidiary of HDMC, is an accredited college offering instruction in medical assisting, vocational nursing, medical insurance
coding and billing, diagnostic medical sonography (ultrasound technician) and Bachelors of Science in nursing (RN to BSN).

CCMCC, a wholly owned subsidiary of HDMC effective December 18, 2024, is accredited by ACCET and has been granted temporary approval
to participate in the Financial Student Aid programs by the Department of Education (ED) following the consummation of the transaction discussed below in Note 3. CCMCC offers VN, surgical technology, sterile processing technician, medical
assisting, diagnostic medical sonography, EKG/ECG technician, and medical administrative assistant/billing and coding specialist
programs.

The
accompanying consolidated financial statements, and all per share information contained herein, have been retroactively adjusted to reflect
the reverse stock split described in Note 12.

    F-6

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

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

(Unaudited)

Note
2 – Summary of Significant Accounting Principals

Principal
of Consolidation

The
condensed consolidated financial statements include the accounts of HDMC and its wholly-owned subsidiaries, CCC, Integrity and
CCMCC. All significant intercompany balances and transactions have been eliminated in consolidation.

Basis
of Presentation Unaudited Interim Financial Information

The
accompanying interim condensed consolidated financial statements are unaudited. In the opinion of management, the accompanying unaudited
condensed consolidated financial statements contain all the normal recurring adjustments necessary to present fairly the financial position
and results of operations as of and for the periods presented. The interim results are not necessarily indicative of the results to be
expected for the full year or any future period.

Certain
information and footnote disclosures normally included