Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 6

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
2,626,407  
    $- 

    Supplemental disclosure
    of noncash activities 

    Non-cash purchase of
    financed lease assets 
    $-  
    $340,048 
  
    Non-cash purchase of
    equipment 
    $39,275  
    $34,580 
  
    Prepaid expense reclassifies to offering cost 
    $276,866  
    $- 
  
    Common stock issued as part of APA 
    $1,000,000  
    $- 
  
    Promissory note under
    APA 
    $400,000  
    $- 
  
    Net identifiable assets
    acquired under APA 
    $237,023  
    $- 

The
accompanying notes are an integral part of these unaudited consolidated financial statements.

F-5

Legacy
Education Inc.

Notes
to Consolidated Financial Statements

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

(Unaudited)

Note
1 - Nature of Business

For
purposes of these financial statements, “Legacy,”, the “Company,” “we,” “our,” “us,”
or similar references refers to Legacy Education Inc. and its consolidated subsidiaries, unless the context requires otherwise. Legacy
Education, LLC was formed on October 19, 2009 in the state of California as a limited liability company. The Company operates as career
institution that focuses on real-life training by utilizing educational practices in different job markets. The Company offers programs
in career paths such as healthcare, veterinary, medical information technology, business management, and green technology. The Company
is accredited by the Accrediting Council for Continuing Education and Training (“ACCET”), and the Accrediting Bureau of Health
Education Schools (“ABHES”) and approved to operate in the state of California by the Bureau for Private Postsecondary Education
(“BPPE”). The consolidated financial statements include accounts of Legacy Education Inc. d/b/a High Desert Medical College
(“HDMC”) and its wholly owned subsidiary, Legacy Education Monterey LLC (“Monterey”) d/b/a Central Coast College
(“CCC”), and its wholly owned subsidiary, Advanced Health Services, LLC d/b/a Integrity College of Health (“Integrity”).
Pursuant to an Agreement and Plan of Merger and Reorganization (the “Reorganization Merger”), dated September 1, 2021,