Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 580

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1C
Chunk 580
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, 2025  
    June 30, 2024 
  
    Bank loan #1, monthly payment $803.69, due in 110 months, effective interest rate 6.44% 
    $-  
    $24,447 
  
    Bank loan #2, monthly payment $5,672.86 starting on November 23, 2020, due in 48 months 
     -  
     21,495 
  
    Total bank loans 
    $-  
    $45,942 

Future
maturities over the remaining term of total debt for (1) to (3) are as follows:

Schedule
of Future Maturities over  Remaining Term of Debt

    2026 (1) 
    $925,350 
  
    2027 
     178,687 
  
    2028 
     164,600 
  
    2029 
     137,977 
  
    Long-term debt 
     1,406,614 
  
    Less: current portion (1) 
     (925,350)
  
    Long-term portion of debt 
    $481,264 

  (1)
  Includes $50,000 related party debt

Note
11 - Related Party Transactions

A
shareholder of the Company was paid $90,000 and $90,000 as consulting fees in the years ended June 30, 2025 and 2024, respectively.

A
director of the Company was paid $135,875 and $78,000, respectively, as consulting fees in the years ended June 30, 2025 and 2024, respectively.

    F-17

 Legacy
Education Inc.

Notes to Consolidated Financial Statements

For Fiscal Years ended June 30, 2025 and 2024

A
company controlled by a director of the Company was paid $152,279 and $127,970, respectively, as consulting fees during the years ended
June 30, 2025 and 2024, respectively.

Director’s fees of $35,500, $33,750, and $28,000, respectively, were paid to 3 individual directors in the year ended June 30, 2025. During the year ended June
30, 2024, one director received $18,000 and two directors each received $4,500.

In
December 2019, the Company received $