Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 576

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1C
Chunk 576
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 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 $1,966,137
and $1,381,194 as of June 30, 2025 and June 30, 2024, respectively.

Note
7 – Prepaid Expenses

The
prepaid expenses consist of the following as of June 30, 2025 and June 30, 2024:

Schedule
of Prepaid Expenses

    June 30, 2025  
    June 30, 2024 
  
    Books 
    $190,928  
    $199,122 
  
    Supplies and other prepaid expenses 
     1,192,477  
     833,203 
  
    Total prepaid expenses 
    $1,383,405  
    $1,032,325 

Note
8 – Other Receivables

The
other receivables consist of the following as of June 30, 2025 and June 30, 2024:

Schedule
of Other Receivables

    June 30, 2025  
    June 30, 2024 
  
    Other advance 
     94,454  
     94,454 
  
    Receivable from CCMCC Seller 
     170,250  
     - 
  
    Employee retention credit 
     37,720  
     46,440 
  
    Total other receivables 
    $302,424  
    $140,894 

The
Company paid $106,846 of federal income taxes on behalf of a foreign investor in Legacy in the year ended June 30, 2020, and the amount
due back to the Company as of each of June 30, 2025 and June 30, 2024 was $94,454.

During
the fiscal year ended June 30, 2021, the Company applied for certain Employee Retention Credits (“ERTC”) under the CARES
Act in the approximate amount of $2.9 million. The remaining balance of the ERTC receivable as of June 30, 2025 and June 30, 2024 was
$37,720 and $46,440, respectively.

    F-15

 Legacy
Education Inc.

Notes to Consolidated Financial Statements

For Fiscal Years ended