Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 922

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 7
Chunk 922
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 material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

    /s/ L J Soldinger Associates,
    LLC

    We have served as the Company’s
    auditor since 2018.

    Deer Park, IL
  
    September 25, 2025

    PCAOB ID No. 318

F-2

Legacy
Education Inc.

Consolidated
Balance Sheets

    June 30, 2025  
    June 30, 2024 
  
    ASSETS 

    Current assets 

    Cash and cash equivalents 
    $20,316,357  
    $10,376,149 
  
    Accounts receivable, net of $1,641,052 and $688,848 allowance for doubtful accounts as of June 30, 2025 and June 30, 2024, respectively 
     15,050,841  
     13,038,241 
  
    Prepaid expenses 
     1,383,405  
     1,032,325 
  
    Other receivables 
     302,424  
     140,894 
  
    Total current assets 
     37,053,027  
     24,587,609 

    Property and equipment, net 
     2,484,304  
     989,952 
  
    Operating lease right-of-use asset 
     15,781,177  
     3,575,369 
  
    Financing lease right-of-use asset 
     311,711  
     340,048 
  
    Intangible assets 
     3,858,027  
     1,054,947 
  
    Goodwill 
     6,852,076  
     1,929,326 
  
    Accounts receivable, long-term 
     1,966,137  
     1,381,194 
  
    Deferred income tax assets 
     395,546  
     898,000 
  
    Security deposits 
     503,133