Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 123

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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 next ABHES
accreditation renewal is in February 2026. 100%
of goodwill is expected to be deductible for federal income tax purposes and will be amortized over 15
years on a straight-line basis.

Note
5 - Property and Equipment

Property
and equipment consist of the following:

 Schedule
of Property and Equipment

    September
                                            30,
                                                                               2025  
    June
                                            30,
                                                                               2025 
  
    Leasehold improvements 
    $1,305,863  
    $1,299,825 
  
    Machinery and equipment 
     1,481,678  
     1,389,417 
  
    Computer equipment 
     1,561,151  
     1,427,842 
  
    Furniture, fixtures and other equipment 
     357,955  
     342,886 
  
    Total 
     4,706,647  
     4,459,970 
  
    Property
and equipment gross 
     4,706,647  
     4,459,970 

    Less accumulated depreciation and amortization 
     (2,086,090) 
     (1,975,666)
  
    Property and equipment, net 
    $2,620,557  
    $2,484,304 

Depreciation and amortization expense
associated with property and equipment totaled $118,925 and $79,884
for the three months ended September 30, 2025 and 2024, respectively.

    F-14

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

Note
6 – Accounts Receivable, Long-Term

TuitionFlex

The
TuitionFlex Program is designed to create a flexible tuition credit program for students and families to help bridge the financial gap,
all in accordance with applicable federal Truth-In-Lending regulations. Through this program, we offer payment plans to all students,
regardless of financial need, for up to 5 years. The long-term portion of student receivables utilizing the TuitionFlex program was $1,963,586
and $1,966,137 as of September 30, 2025 and June 30, 2025, respectively.

Note
7 – Prepaid Expenses

The
prepaid expenses consist of