Related Party Transactions

6 Months Ended

Dec. 31, 2024

Related Party Transactions [Abstract]

Related Party Transactions

Note 11 - Related Party Transactions

A shareholder of the Company was paid $22,500 and $45,000 as consulting fees in each of the three and six months ended December 31, 2024 and 2023.

A director of the Company was paid $59,700 and $79,200, respectively, as consulting fees in the three and six months ended December 31, 2024 and was paid $19,200 and $39,000, respectively, as consulting fees in the three and six months ended December 31, 2023.

A director of the Company was paid $60,495 and $86,445, respectively, in the three and six months ended December 31, 2024 and $37,016 and $76,070, respectively in the three and six months ended December 31, 2023 as consulting fees.

In December 2019, the Company received $50,000 of proceeds from a promissory note, entered into with an executive of the Company, which bears interest at the rate of 12% per annum and matures on the earlier of the nine-month anniversary of the loan or the completion of an initial public offering. The balance of this note was $50,000 as of December 31, 2024 and June 30, 2024.

Legacy Education Inc.

Notes to Consolidated Financial Statements

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

(Unaudited)