Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 179

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1
Chunk 179
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125, respectively.

In
July 2024, the Company entered into an equipment loan for $39,189. The note accrues interest at a rate of 11.15% per annum and requires
48 equal monthly payments. The first payment was on July 1, 2024. As of June 30, 2025 and June 30, 2024, the principal balance of the
promissory note was $30,946 and $0, respectively.

In
June 2025, the Company entered into an equipment loan for $528,176. The note accrues interest at a rate of 9.392% per annum and requires
48 equal monthly payments. The first payment was on June 26, 2025. As of June 30, 2025 and June 30, 2024, the principal balance of the
promissory note was $515,029 and $0, respectively.

  (3)
  CCMCC acquisition Seller Loan

As
part of the acquisition described in Note 3, Antioch issued the seller of CCMCC a promissory note in the principal amount of $400,000.
Under the terms of the note, interest shall accrue at 6% and shall be repaid in twelve equal monthly payments of principal and interest.
As of June 30, 2025, the principal balance of the promissory note of $202,992 is presented as a current liability on the accompanying
consolidated balance sheet.

  (4)
  Bank Loan

On
December 31, 2019, the Company acquired Integrity, assuming its two bank loans, which are secured by all business assets of the Company.

Schedule
of Bank Loans

    June 30, 2025  
    June 30, 2024 
  
    Bank loan #1, monthly payment $803.69, due in 110 months, effective interest rate 6.44% 
    $-  
    $24,447 
  
    Bank loan #2, monthly payment $5,672.86 starting on November 23, 2020, due in 48 months 
     -  
     21,495 
  
    Total bank loans 
    $-  
    $45,942 

Future
maturities over the remaining term of total debt for (1) to (3) are as follows:

Schedule
of Future Maturities over