Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 224

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 7A
Chunk 224
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 of 6.0% per annum and requires
48 equal monthly payments. As of June 30, 2025 and June 30, 2024, the principal balance of the promissory note was $13,015 and $20,929,
respectively.

In
August 2023, the Company entered into an equipment loan for $35,580. The note accrues interest at a rate of 10.14% per annum and requires
48 equal monthly payments. As of June 30, 2025 and June 30, 2024, the principal balance of the promissory note was $19,660 and $27,723,
respectively.

In
November 2023, the Company entered into an equipment loan for $14,610. The note accrues interest at a rate of 10.72% per annum and requires
48 equal monthly payments. As of June 30, 2025 and June 30, 2024, the principal balance of the promissory note was $9,265 and $12,582,
respectively.

In
December 2023, the Company entered into an equipment loan for $11,920. The note accrues interest at a rate of 13.53% per annum and requires
36 equal monthly payments. As of June 30, 2025 and June 30, 2024, the principal balance of the promissory note was $6,160 and $9,853,
respectively.

    F-16

 Legacy
Education Inc.

Notes to Consolidated Financial Statements

For Fiscal Years ended June 30, 2025 and 2024

In
February 2024, the Company entered into an equipment loan for $35,612. The note accrues interest at a rate of 8% per annum and requires
36 equal monthly payments. The first payment was on April 1, 2024. As of June 30, 2025 and June 30, 2024, the principal balance of the
promissory note was $21,795 and $32,950, respectively.

In
June 2024, the Company entered into an equipment loan for $48,966. The note accrues interest at a rate of 11.16% per annum and requires
48 equal monthly payments. The first payment was on June 1, 2024. As of June 30, 2025 and June 30