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Debts and Other Liabilities | 3 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Debts and Other Liabilities | Note 10 - Debts and Other Liabilities
(1) | Promissory Notes and Related Parties Debt
The Company received $750,000 in proceeds from several creditors, including $150,000 from related parties in the form of unsecured promissory notes. Under the terms of the unsecured promissory notes, the principal shall be due and payable on the earlier to occur (i) the 9-month anniversary of the first advance under each promissory note; or (ii) the completion of an initial public offering by payee (“Maturity Date”), and the promissory note shall bear interest at a monthly rate of 1% based upon the amount outstanding as of any calculation date. Interest shall be payable monthly commencing on the 15th day of each calendar month following the date funds are first advanced. The maturity dates on these promissory notes were extended to March 31, 2021. The noteholders agreed to defer the repayment of the principal balance until the completion of an initial public offering and subsequently agreed to defer the repayment until demanded or paid. Schedule of Carrying Amount of Promissory Note
|  | September 30, 2025 |  |  | June 30, 2025 |
Promissory note issued on November 12, 2019 |  | $ | 500,000 |  |  | $ | 500,000 |
Promissory note issued on December 30, 2019, related party |  |  | 50,000 |  |  |  | 50,000 |
Total other debt |  | $ | 550,000 |  |  | $ | 550,000 |
A further note issued on February 6, 2020 in the amount of $100,000 was repaid in cash in September 2023.
(2) | Equipment Loan
In January 2023, the Company entered into an equipment loan for $30,744. The note accrues interest at a rate of 6.0% per annum and requires 48 equal monthly payments. As of September 30, 2025 and June 30, 2025, the principal balance of the promissory note was $10,943 and $13,015, respectively. In August 2023, the Company entered into an equipment loan for $35,580. The note accrues interest at a rate of 10.14% per annum and requires 48 equal monthly payments. As of September 30, 2025 and June 30, 2025, the principal balance of the promissory note was $17,519 and $19,660, respectively. In November 2023, the Company entered into an equipment loan for $14,610. The note accrues interest at a rate of 10.72% per annum and requires 48 equal monthly payments. As of September 30, 2025 and June 30, 2025, the principal balance of the promissory note was $8,381 and $9,265, respectively. In December 2023, the Company entered into an equipment loan for $11,920. The note accrues interest at a rate of 13.53% per annum and requires 36 equal monthly payments. As of September 30, 2025 and June 30, 2025, the principal balance of the promissory note was $5,158 and $6,160, respectively. In February 2024, the Company entered into an equipment loan for $35,612. The note accrues interest at a rate of 8% per annum and requires 36 equal monthly payments. The first payment was on April 1, 2024. As of September 30, 2025 and June 30, 2025, the principal balance of the promissory note was $18,867 and $21,795, respectively. In June 2024, the Company entered into an equipment loan for $48,966. The note accrues interest at a rate of 11.16% per annum and requires 48 equal monthly payments. The first payment was on June 1, 2024. As of September 30, 2025 and June 30, 2025, the principal balance of the promissory note was $34,982 and $37,752, 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 September 30, 2025 and June 30, 2025, the principal balance of the promissory note was $28,750 and $30,946, 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 September 30, 2025 and June 30, 2025, the principal balance of the promissory note was $0 and $515,029, respectively. Legacy Education Inc. Notes to Condensed Consolidated Financial Statements For the three months ended September 30, 2025 and 2024
(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 September 30, 2025 and June 30, 2025, the principal balance of the promissory note of $102,255 and $202,992, respectively, is presented as a current liability on the accompanying consolidated balance sheet. Future maturities over the remaining term of total debt for (1) to (3) are as follows: Schedule of Future Maturities over Remaining Term of Debt
2026 (1) |  | $ | 696,483 |
2027 |  |  | 53,351 |
2028 |  |  | 27,022 |
Long-term debt |  |  | 776,856 |
Less: current portion (1) |  |  | (711,944 | )
Long-term portion of debt |  | $ | 64,912 |
(1) | Includes $50,000 related party debt

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