Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 0

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Legacy
Education Inc.

(dba
High Desert Medical College)

(dba
Central Coast College)

(dba
Integrity College of Health)

Consolidated
Financial Statements for the three and six months ended December 31, 2024 and 2023

Table
of Contents

    Page

    Financial
    Statements:
    F-1

    Consolidated
    Balance Sheets
    F-2

    Consolidated
    Income Statements
    F-3

    Consolidated
    Statements of Stockholders’ Equity
    F-4

    Consolidated Statements of Cash Flows
    F-5

    Notes to Consolidated Financial Statements
    F-6
    to F-21

F-1

Legacy
Education Inc.

Consolidated
Balance Sheets

    December
    31, 2024 (Unaudited)  
    June
    30, 2024 * 

    ASSETS 

    Current assets 

    Cash and cash equivalents 
    $16,869,726  
    $10,376,149 
  
    Accounts receivable, net of $2,310,423 and
    $688,848 allowance for doubtful accounts as of December 31, 2024 and June 30, 2024, respectively 
     13,550,852  
     13,038,241 
  
    Prepaid expenses 
     1,282,952  
     1,032,325 
  
    Other receivables 
     156,928  
     140,894 
  
    Total current assets 
     31,860,458  
     24,587,609 

    Property and equipment, net 
     1,767,220  
     989,952 
  
    Operating lease right-of-use asset 
     14,721,700  
     3,575,369 
  
    Financing lease right-of-use asset 
     328,713  
     340,048 
  
    Intangible assets 
     3,652,441  
     1,054,947 
  
    Goodwill 
     6,625,383  
     1,929,326 
  
    Accounts receivable, long-term 
     1,712,828  
     1,381,194 
  
    Deferred income tax assets 
     898,000