Intangible Assets

6 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 4 - Intangible Assets

The intangibles consisted of the following as of December 31, 2024 and June 30, 2024:

	December 31, 2024			June 30, 2024
Goodwill	$	6,625,383		$	1,929,326
Trade name		2,696,100			796,100
Accreditation		288,200			88,200
Course curriculum		698,000			198,000
Total cost of intangibles	$	10,307,683		$	3,011,626
Less accumulated amortization		(29,859	)		(27,353	)
Intangibles net	$	10,277,824		$	2,984,273

As of December 31, 2024 and June 30, 2024, no impairment of the Company’s goodwill, nor other intangibles with an indefinite life was required related to its previous acquisitions of CCC and Integrity. Although the ACCET accreditation has an indefinite life, the accreditation requires renewal every five years. CCC’s ACCET accreditation was most recently renewed in April 2020 and its next renewal is in April 2025. The Company recognized $1,253 and $2,506 in amortization expense for the three and six months ended December 31, 2024. The Company recognized $1,753 and $3,006 in amortization expense for the three and six months ended December 31, 2023. Although the Accrediting Bureau of Health Education Schools (“ABHES”) has an indefinite life, the accreditation requires renewal every five years. Integrity’s next ABHES accreditation renewal is in February 2026. 100% of goodwill is expected to be deductible for federal income tax purposes and will be amortized over 15 years on a straight-line basis.

Legacy Education Inc.

Notes to Consolidated Financial Statements

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

(Unaudited)