Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 130

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 After 2030 
     7,336,011 
  
    Total future minimum operating lease payments 
     19,767,193 
  
    Less: imputed interest 
     (4,291,581)
  
    Total 
     15,475,612 
  
    Current portion of operating lease 
     2,159,041 
  
    Long term portion of operating lease 
    $13,316,571 

Total
rent expense and related taxes and operating expenses under operating leases for the three months ended September 30, 2025 and 2024 were
$1,335,350 and $999,115, respectively.

Supplemental
balance sheet information related to leases was as follows:

Schedule
of Balance Sheet Information Related to Leases

    September 30,
                                                                               2025  
    June 30,
                                                                               2025 

    Operating lease right-of-use assets 
    $15,147,699  
    $15,781,177 

    Operating lease liability - current 
    $2,159,041  
    $2,306,061 
  
    Operating lease liability – non-current 
     13,316,571  
     13,748,161 
  
    Total operating lease liability 
    $15,475,612  
    $16,054,222 

Other
supplemental information:

Schedule
of Other supplemental Information

    For
    the three months ended September 30, 

    2025  
    2024 
  
    Cash paid for operating lease 
    $832,580  
    $782,273 

    F-18

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

Note
13 – Stockholders’ Equity

Reverse
Stock Split

On
September 9, 2024, the Company’s stockholders approved an amendment to the Company’s articles of incorporation to effectuate
a 1-for-2 reverse split of the Company’s common stock. The amendment to the Company’s articles of incorporation was filed
with the Nevada Secretary of State on September 9, 2024. The consolidated financial statements, and all share and per share information
contained herein, have been retroactively adjusted to reflect the reverse stock split.

As
of September 30, 2025 and June 30