Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 8

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part II, Item 8
Chunk 8
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ED”) following the consummation of
the transaction discussed below in Note 3. CCMCC offers vocational nursing, surgical technology, sterile processing technician,
pharmacy technician, dental assisting, medical assisting, diagnostic medical sonography, EKG/ECG technician, and medical
administrative assistant/billing and coding specialist programs.

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 13.

Note
2 – Summary of Significant Accounting Principles

Principles
of Consolidation

The
audited 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 Condensed Consolidated Financial Statements

For
the three months ended September 30, 2025 and 2024

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 as of and for the periods presented. The interim results are not necessarily indicative of the results to be
expected for the full year or any future period.

Certain
information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting
principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities
and Exchange Commission (“SEC”). The Company believes that the disclosures are adequate to make the interim information presented
not misleading. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial
statements and the notes thereto included in the Company’s Report on Form 10-K filed on September 25, 2025, for the year ended
June 30, 2025.

Use
of Estimates

The
preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”)
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the