Company: LGCY
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001493152-25-006418
Chunk: 165

Company: Legacy Education Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 2
Chunk 165
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You
should read the following discussion and analysis of our financial condition and results of operations together with our financial statements
and the related notes appearing elsewhere in this Quarterly Report on Form 10-Q. In addition to historical information, this discussion
and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ materially
from those discussed below. Factors that could cause or contribute to such differences include, but are not limited to, those identified
below, and those discussed in the section titled “Risk Factors” included in our Annual Report on Form 10-K for the fiscal
year ended June 30, 2024 as may be amended, supplemented or superseded from time to time by other reports we file with the SEC. All amounts
in this report are in U.S. dollars, unless otherwise noted.

Throughout
this Quarterly Report on Form 10-Q references to “we,” “our,” “us,” the “Company,” or
“Legacy,” refer to Legacy Education Inc.

Overview

We
provide career-focused, post-secondary education services to students at all stages of adult life, from recent high school graduates
to working parents, through our accredited academic institutions: High Desert Medical College, which we acquired in July 2010,
Central Coast College, which we acquired in January 2019, Contra Costa Medical Career College, which we acquired in December 2024,
and Integrity College of Health. On December 31, 2019, we entered into a Membership Interest Purchase Agreement with the sole member
of Integrity. We purchased from the sole member of Integrity on that date 24.5% of her interest and obtained an exclusive option to
acquire her remaining membership interest upon payment of $100, which was exercised on September 15, 2020. For purposes of our
financial statements, the acquisition of Integrity is deemed to have been effective as of December 31, 2019. We recently acquired Contra Costa Medical Career College in December 2024.

High
Desert Medical College

HDMC
was established in the State of California in 2002 and began offering classes in 2003. It started with campuses in Lancaster, California,
and added its first branch in 2008 in Bakersfield, California. Due to enrollment growth and high demand for its services, HDMC expanded
to add a branch campus in Temecula, California campus in order to accommodate 250 to 400 additional students. HDMC offers UT, VN