Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 113

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part II, Item 8
Chunk 113
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 Merger.

HDMC
offers instruction in thirty-three programs including ultrasound technician, ultrasound technician associate of applied science degree,
medical billing and coding, vocational nursing, clinical medical assisting, pharmacy technician, dental assisting, medical administrative
vocational nursing associate of applied science degree and registered nursing

CCC,
a wholly-owned subsidiary of HDMC, offers instruction in healthcare career training programs, and veterinary career training.

Integrity,
a wholly-owned subsidiary of HDMC, is an accredited college offering instruction in medical assisting, vocational nursing, medical insurance
coding and billing, diagnostic medical sonography (ultrasound technician) and Bachelors of Science in nursing (RN to BSN).

On
October 17, 2024, Legacy Education Antioch, LLC (Antioch), a wholly owned subsidiary of HDMC, was formed as a California limited liability
company. On October 22, 2024, Antioch and Parent Company entered into an Asset Purchase Agreement (APA) with Contra Costa Medical Career
College, Inc. (CCMCC), a California corporation, further described in Note 3. Antioch has registered with the state of California to
conduct business under the name Contra Costa Medical Career College. CCMCC is accredited by ACCET and has been granted temporary approval
to participate in the Financial Student Aid programs by the Department of Education (ED) following the consummation of the transactions
contemplated in the APA, which occurred on December 18, 2024.

The
accompanying consolidated financial statements, and all per share information contained herein, have been retroactively adjusted to reflect
the reverse stock split described in Note 12.

Note
2 – Summary of Significant Accounting Principals

Principal
of Consolidation

The
consolidated financial statements include the accounts of HDMC and its wholly-owned subsidiaries, CCC, Integrity and CCMCC. All significant
intercompany balances and transactions have been eliminated in consolidation.

    F-6

 Legacy
Education Inc.

Notes
to Consolidated Financial Statements

For
The Three and Six Months ended December 31, 2024 and 2023

(Unaudited)

Basis
of Presentation Unaudited Interim Financial Information

The
accompanying interim condensed consolidated financial statements are unaudited. In the opinion of management, the accompanying unaudited
condensed consolidated financial statements contain all the normal recurring adjustments necessary to present fairly the financial position
and results of operations