Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 127

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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1, 2024. As of September 30, 2025 and June 30, 2025, the principal balance of
the promissory note was $34,982 and $37,752, respectively.

In
July 2024, the Company entered into an equipment loan for $39,189. The note accrues interest at a rate of 11.15% per annum and requires
48 equal monthly payments. The first payment was on July 1, 2024. As of September 30, 2025 and June 30, 2025, the principal balance of
the promissory note was $28,750 and $30,946, respectively.

In
June 2025, the Company entered into an equipment loan for $528,176. The note accrues interest at a rate of 9.392% per annum and requires
48 equal monthly payments. The first payment was on June 26, 2025. As of September 30, 2025 and June 30, 2025, the principal balance
of the promissory note was $0 and $515,029, respectively.

    F-16

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

    (3)
    CCMCC
    acquisition Seller Loan

As
part of the acquisition described in Note 3, Antioch issued the seller of CCMCC a promissory note in the principal amount of $400,000.
Under the terms of the note, interest shall accrue at 6% and shall be repaid in twelve equal monthly payments of principal and interest.
As of September 30, 2025 and June 30, 2025, the principal balance of the promissory note of $102,255 and $202,992, respectively, is presented
as a current liability on the accompanying consolidated balance sheet.

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) 
    $696,483 
  
    2027 
     53,351 
  
    2028 
     27,022 
  
    Long-term
    debt 
     776,856 
  
    Less: current portion (