On July 10, 2012, the Company formed a new wholly owned subsidiary True2Bid, Inc. (“True2Bid”) which was incorporated in the state of Nevada. This subsidiary’s name was changed to LegacyXChange, Inc. (“LegacyXChange”) in December 2014. The Company continued to sell existing inventory of beauty products through May 2013 when the final inventory was sold. LegacyXChange operates an online e-commerce platform focused on delivering users a wide array of sports and entertainment related products that can be won in an action packed environment of a live auction.

On July 2, 2015, pursuant to a Certificate of Dissolution filing with the Nevada corporationSecretary of State, we dissolved LegacyXChange, Inc. (formerly True2Bid, Inc.) to allow for the change in name of our parent company, True 2 Beauty, Inc., to LegacyXChange, Inc.

On June 24, 2015, our Board of Directors approved of a name change from True 2 Beauty, Inc. to LegacyXChange, Inc. (the “Company”“Name Change”) and on June 29, 2015 shareholders holding 51.8% of our issued and outstanding shares approved and adopted the Name Change.  The State of Nevada approved the Certificate of Amendment affecting the Name Change on July 6, 2015 to be effective as of July 2, 2015. 

NOTE 2 –BASIS OF PRESENTATION, GOING CONCERN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

Management acknowledges its responsibility for the preparation of the accompanying unaudited consolidated financial statements which reflect all adjustments, consisting of normal recurring adjustments, considered necessary in its opinion for a fair statement of its consolidated financial position and the consolidated results of its operations for the periods presented. The accompanying unaudited consolidated financial statements include the financial statement of its wholly-owned subsidiary, LegacyXChange, Inc. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited consolidated financial statements for True 2 Beauty Inc. and its subsidiary have been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S. GAAP”) for interim financial statementsinformation and with the instructions to Form 10-Q andArticle 8-03 of Regulation S-XS-X. Operating results for interim periods are not necessarily indicative of results that may be expected for the three and six-month periods ended April 30, 2010 and 2009 and reflect, in the opinion of management, all adjustments which are offiscal year as a normal and recurring nature necessary for a fair presentation of the results for such periods. The foregoing financial statements do not include all information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to financial statements for the year ended October 31, 2009 included in the Company’s Form 10-K filed with the Securities and Exchange Commission on February 1, 2010. The interimwhole. These unaudited consolidated financial statements should be read in conjunction with the annualsummary of significant accounting policies and notes to the consolidated financial statements for the years ended March 31, 2015 and 2014 included in the Company’s Form 10-K.

Going concern

These unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business.

As reflected in the accompanying notes. Operating resultsunaudited consolidated financial statements, the Company had a net loss of $66,307 and $128,495 for the three and six months ended April 31, 2010 areJune 30, 2015 and 2014, respectively, and net cash used in operations of $117,436 and $78,060 for the three months ended June 30, 2015 and 2014, respectively, and an accumulated deficit, a stockholders’ deficit and a working capital deficit of $9,682,270, $1,247,456 and $1,142,247, respectively, at June 30, 2015, did not necessarily indicativegenerate any revenue for the three months ended June 30, 2015 and had a gross loss for the three months ended June 30, 2014. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The ability of the resultsCompany to continue as a going concern is dependent on the Company’s ability to raise additional capital, implement its business plan, and generate significant revenues. The unaudited consolidated financial statements do not include any adjustments that maymight be expected fornecessary if the year ending October 31, 2010.Company is unable to continue as a going concern. The Company plans on raising capital through the sale of equity or debt instruments to implement its business plan. There is no assurance these plans will be realized.

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The preparation of the unaudited consolidated financial statements of the Company have been prepared in accordanceconformity with generally accepted accounting principles in the United States of America and are presented in US dollars.

The Company adopted the guidance of Accounting Standards Codification (“ASC”) 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

The carrying value ofamounts reported in the unaudited consolidated balance sheets for cash, andinventories, accounts payable and accrued liabilities, approximatesaccrued officer salary and director fees, approximate their fair market value because ofbased on the shortshort-term maturity of these instruments.  Unless otherwise noted, it

Certain financial instruments, such as certain accrued liabilities, embody obligations that require (or permit at the Company’s discretion) settlement by issuance of a variable number of the Company’s common shares that have a value equal to a fixed monetary amount. The number of shares required to be issued to settle that unconditional obligation is management’s opinionvariable, because that number of common shares will be determined by the Companyfair value of the Company’s common shares on the date of settlement or over a stated period of time, such as the average over the last 30 days before settlement, or the beginning of the quarter. Pursuant to ASC 480-10-25-14(a), the financial instruments are classified as a liability at the fixed monetary amount with a charge to expense to increase the obligation to the fixed monetary amount. Upon issuance of the shares to settle the obligation, equity is not exposedincreased by the amount of the liability and no gain or loss is recognized for the difference between the settlement date or average market price and the ending market price.

The following table reflects changes for the three months ended June 30, 2015 for all financial assets and liabilities categorized as Level 3: 

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2015

NOTE 2 –BASIS OF PRESENTATION, GOING CONCERN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Fair value of financial instruments and fair value measurements (continued)

ASC 825-10 “Financial Instruments”,allows entities to significant interest, currency or credit risks arising from thesevoluntarily choose to measure certain financial instruments.

Cash and cash equivalents

Cash and cash equivalents consist of accountingcash and short-term highly liquid investments purchased with original maturities of three months or less. There were no cash equivalents at June 30, 2015 and March 31, 2015.

Inventories and cost of revenue

Inventories are stated at the lower of cost or market value. Cost is determined using the cost to acquire inventory and is valued using the first-in, first-out method. Any inventory adjustments are based upon management’s review of inventories on hand compared to estimated future usage and sales. Inventories of finished goods totaled $570 and $0 at June 30, 2015 and March 31, 2015, respectively. 

Revenue recognition

The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, thepurchase price is fixed or determinable and collectability is reasonably assured. The Company’s specific revenue recognition policies are as follows:

Stock-based compensation

Stock-based compensation is accounted for income taxes.  Under this method, deferredbased on the requirements of the Share-Based Payment Topic of ASC 718 which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the period the employee or director is required to perform the services in exchange for the award (presumptively, the vesting period). The ASC also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.

Pursuant to ASC 505-50, for share-based payments to consultants and other third-parties, compensation expense is determined at the “measurement date.” The expense is recognized over the service period of the award. Until the measurement date is reached, the total amount of compensation expense remains uncertain. The Company initially records compensation expense based on the fair value of the award at the reporting date.

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2015

NOTE 2 – BASIS OF PRESENTATION, GOING CONCERN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Income taxes

Deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable toarise from temporary differences associated with differences between the financial statement carrying valuesstatements and their respective income tax basis (temporary differences).  Theof assets and liabilities, as measured by the enacted tax rates, which are expected to be in effect on deferred incomewhen these differences reverse. Deferred tax assets and liabilities are classified as current or non-current, depending upon the classification of the asset or liabilities to which they relate. Deferred tax assets and liabilities not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

The Company follows the provisions of FASB ASC 740-10 “Uncertainty in Income Taxes” (ASC 740-10). Certain recognition thresholds must be met before a change in tax ratesposition is recognized in incomethe financial statements. An entity may only recognize or continue to recognize tax positions that meet a “more-likely-than-not” threshold. As of June 30, 2015 and March 31, 2015, the Company does not believe it has any uncertain tax positions that would require either recognition or disclosure in the period that includesaccompanying unaudited consolidated financial statements.

Shipping costs

Shipping costs are included in other selling, general and administrative expense and totaled $2 and $95 for the enactment date.

Research and development

Expenditures for research and product development costs are expensed as incurred. The Company did not incur any research and development expense during the three months ended June 30, 2015 and 2014.

Basic and diluted earnings per share on the face of the statement of operations. Basic loss

Pursuant to ASC 260-10-45, basic earnings (loss) per common share is computed by dividing net loss availableincome (loss) allocable to common shareholders by the weighted average number of shares of common stock outstanding for the periods presented. Diluted income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. Diluted income (loss) per share reflects the potential dilution that could occur if securities were exercised or converted into common stock or other contracts to issue common stock resulting in the issuance of common stock that would then share in the Company’s income (loss) subject to anti-dilution limitations. Potentially dilutive common shares duringconsist of common stock issuable for stock warrants (using the period. Diluted loss per share gives effecttreasury stock method). For the three months ended June 30, 2015 and 2014, all potentially dilutive securities are excluded from the computation of diluted weighted average number of shares of common stock outstanding as they would have had an anti-dilutive impact. The Company’s aggregate common stock equivalents at June 30, 2015 and 2014 included the following:

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2015

NOTE 2 – BASIS OF PRESENTATION, GOING CONCERN AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Related parties

Parties are considered to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

Recent accounting pronouncements

Accounting standards that have been loaned without interest.  A former officerissued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures.

NOTE 3 –PREPAID EXPENSES

At June 30, 2015 and March 31, 2015, prepaid expenses consisted of the Company made total loansfollowing:

NOTE 4 –ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

At June 30, 2015 and March 31, 2015, accounts payable and accrued liabilities consisted of $37,000 prior to her resignation.  She was paid $3,124 in the current quarter on this loan.

In connection with the employment of a vote by the Company’s majority shareholder,board of director member, the Company filed Articles of Amendment to its Articles of Incorporation to increase the Company’s authorized shares of Common Stock from 75,000,000 shares to 200,000,000 shares, par value $0.001.  The Company also authorized 10,000,000 shares of preferred stock with a par value of $0.001.  On the same date, the Company authorized a forward stock split in the form of a dividend of 9 shares for every one share of common stock held (effectively a ten for one forward stock split).  The payment date on this dividend was April 9, 2010.

At June 30, 2015 and March 31, 2015, the accrued and unpaid CEO’s salary was $1,000 and $3,300, respectively, and was included in accrued officer salary and director fees in the accompanying consolidated balance sheets.

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 5 – ACCRUED OFFICER SALARY AND DIRECTOR FEES (continued)

At June 30, 2015 and March 31, 2015, accrued officer salary and director fees consisted of the following:

NOTE 6 –RELATED PARTY TRANSACTIONS

Effective FebruaryNovember 1, 2010,2014, the Company entered into a feeservice agreement with CFO Oncall Inc., a company majority owned by the law firm Weed &Company’s chief financial officer. In accordance with the service agreement, the service fee is $5,000 per month which is payable as $3,000 in cash payable in advance on the 1^st of each month, and $2,000 payable at the Company’s option in cash or the Company’s common stock. On June 1, 2015, the Company LLPissued 726,989 shares of common stock to CFO Oncall, Inc. pursuant to the service (See Notes 8). At June 30, 2015, amounts due to CFO Oncall amounted to $9,000 and are included in accounts payable and accrued liabilities on the accompanying consolidated balance sheet. 

NOTE 7 –CONVERTIBLE NOTES PAYABLE

Fiscal 2015 Convertible Notes

In October and November 2014, the Company and 7 subject to adjustment for issuances of common stock at a purchase price of less than the then-effective conversion price investors (the “Investors”) entered into convertible promissory note agreements, providing the issuance of a 10% convertible promissory notes (the “Convertible Notes”) with an aggregate principal amount of $400,000. The Convertible Notes are due and payable on the third anniversary of the date of issuance through October 2017. The Investors are entitled, at their option, at any time after the issuance of these Convertible Notes, to convert all or any lesser portion of the outstanding principal amount and accrued but unpaid interest into the Company’s common stock at a conversion price for each share of common stock equal to $0.02. The conversion price of the Convertible Notes shall be. In the event a registration statement is not filed by either the Company within 60 days following the completion of this Offering, or the full amount of Conversion Shares are not included in the first registration statement filed by either entity, or if such registration statement including the Conversion Shares is not declared effective within 180 days following the completion of the Offering, the Convertible Notes shall then be convertible at the option of the Holder into shares of the common stock, par value $.001 per share, of the Company at a conversion price equal to the lesser of $0.02 per share or a 25% discount to the average closing bid price of the Parent Company’s stock for the five days immediately prior to the day upon which its Presidentthe Company receives a written conversion notice from the Holder for any portion of the Notes. The Penalty Conversion shall remain in effect until such time as a registration statement from the Company, including the Conversion Shares is a partner.  Underdeclared effective by the SEC. In connection with the issuance of these Convertible Notes above, the Company determined that the terms of the Convertible Notes include a down-round provision under which the conversion price and exercise price could be affected by future equity offerings undertaken by the Company or contain terms that are not fixed monetary amounts at inception.

Accordingly, under the provisions of FASB ASC Topic No. 815-40, “Derivatives and Hedging – Contracts in an Entity’s Own Stock”, the embedded conversion option contained in the convertible instruments were accounted for as derivative liabilities at the date of issuance and shall be adjusted to fair value through earnings at each reporting date. The fair value of the embedded conversion option derivatives was determined using the Binomial Option Pricing Model. On the initial measurement date, the fair value of the embedded conversion option derivative of $419,000 was recorded as a derivative liability and was allocated as a debt discount up to the proceeds of the notes $383,125 with the remainder $35,875 charged to current period operations as initial derivative expense. Any gains and losses recorded from changes in the fair value of the liability for derivative contract was recorded as a component of other income/(expense) in the accompanying consolidated statements of operations.

During the three months ended June 30, 2015, the fair value of the derivative liabilities were estimated using the Binomial option-pricing model with the following assumptions:

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2015

NOTE 7 –CONVERTIBLE NOTES PAYABLE (continued)

Fiscal 2015 Convertible Notes (continued)

At June 30, 2015 and March 31, 2015, the Company valued the embedded conversion option derivative liabilities resulting in a gain from change in fair value of derivative liabilities of $225,995 for the three months ended June 30, 2015. For the three months ended June 30, 2015, amortization of debt discounts related to these convertible notes amounted to $31,927, which has been included in interest expense on the accompanying consolidated statements of operations.

At June 30, 2015 and March 31, 2015, fiscal 2015 convertible promissory notes consisted of the following:

Fiscal 2016 Convertible Notes

On May 19, 2015 and June 1, 2015 and June 23, 2015, the Company and 5 investors (the “Investors”) entered into convertible promissory note agreements, providing the issuance of a 10% convertible promissory notes (the “Fiscal 2016 Convertible Notes”) with an aggregate principal amount of $115,000. The Fiscal 2016 Convertible Notes are due and payable on the third anniversary of the date of May 19, 2018 and June 1, 2018 and June 23, 2018. The Investors are entitled, at their option, at any time after the issuance of these Fiscal 2016 Convertible Notes, to convert all or any lesser portion of the outstanding principal amount and accrued but unpaid interest into the Company’s common stock at a conversion price for each share of common stock equal to $0.05. The conversion price of the Fiscal 2016 Convertible Notes shall be subject to adjustment for issuances of common stock at a purchase price of less than the then-effective conversion price.

In connection with the issuance of these Fiscal 2016 Convertible Notes, the Company issued five-year common stock purchase warrants (“Warrants”) exercisable at $0.07 per share. These investors received 20 Warrants for each dollar invested in the Fiscal 2016 Convertible Notes. The exercise price of the Warrant shall be subject to adjustment for issuance of common stock at a consideration per share of less than the then-effective exercise price.

In connection with the issuance of these Fiscal 2016 Convertible Notes, the Company determined that the terms of the Fiscal 2016 Convertible Notes and the 2,300,000 warrants include down-round provisions under which the conversion price and exercise price could be affected by future equity offerings undertaken by the Company or contain terms that are not fixed monetary amounts at inception. Accordingly, under the provisions of FASB ASC Topic No. 815-40, “Derivatives and Hedging – Contracts in an Entity’s Own Stock”, the embedded conversion option contained in the convertible instruments and the warrants were accounted for as a derivative liabilities at the date of issuance and shall be adjusted to fair value through earnings at each reporting date. The fair value of the embedded conversion option derivatives and warrants derivatives was determined using the Binomial Option Pricing Model. On the initial measurement date, the fair value of the embedded conversion option derivatives and warrants derivatives of $234,455 was recorded as a derivative liability and was allocated as a debt discount up to the proceeds of the notes $115,000 with the remainder $119,455 charged to current period operations as initial derivative expense. Any gains and losses recorded from changes in the fair value of the liability for derivative contract will be recorded as a component of other income/(expense) in the consolidated statements of operations.

During the three months ended June 30, 2015, the fair value of the derivative liabilities were estimated using the Binomial option-pricing model with the following assumptions:

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2015

NOTE 7 –CONVERTIBLE NOTES PAYABLE (continued)

Fiscal 2016 Convertible Notes (continued)

At June 30, 2015 and on the initial measurements of the derivative liabilities, the Company valued the embedded conversion option derivative liabilities and warrants derivative resulting in a gain from change in fair value of derivative liabilities of $33,505 for the three months ended June 30, 2015. For the three months ended June 30, 2015, amortization of debt discounts related to these convertible notes amounted to $3,195, which has been included in interest expense on the accompanying consolidated statements of operations.

At June 30, 2015 and March 31, 2015, fiscal 2016 convertible promissory notes consisted of the following:

At June 30, 2015 and March 31, 2015, the total convertible promissory notes mentioned above consisted of the following:

note 8 –STOCKHOLDERS’ DEFICIT

Authorized shares

The Company is authorized to issue 10,000,000 shares of its $0.001 par value preferred stock. As of June 30, 2015 and March 31, 2015, no shares were issued and outstanding.

The Company is authorized to issue 190,000,000 shares of its $0.001 par value common stock. As of June 30, 2015 and March 31, 2015, 38,383,154 and 36,951,165 shares of common stock were issued and outstanding, respectively.

Common stock issued for services

On April 27, 2015, the Company issued 100,000 shares of common stock to an attorney for services rendered. The shares were valued at the fair market value of $0.06 per share based on the closing bid price on the grant date. The Company recorded stock-based legal fees of $6,000 for the three months ended June 30, 2015.

On May 1, 2015, the Company issued 180,000 shares of common stock to an attorney for services to be rendered. The shares were valued at the fair market value of $0.0549 per share based on the closing bid price on the grant date. The Company recorded stock-based legal fees of $1,647 for the three months ended June 30, 2015 and had a remaining prepaid expense of $8,235 at June 30, 2015, which will be amortized over the remaining service period.

On May 1, 2015, the Company issued 175,000 vested shares of common stock to an attorney for services to be rendered. The shares were valued at the fair market value of $0.0549 per share on the grant date which is the measurement date based on the closing bid price on the grant date. The Company recorded stock-based legal fees of $1,600 for the three months ended June 30, 2015 and had a remaining prepaid expense of $8,008 at June 30, 2015, which will be amortized over the remaining service period.

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2015

note 8 –STOCKHOLDERS’ DEFICIT

Common stock issued for service (continued)

On June 1, 2015, the Company issued 726,989 shares of common stock to a company controlled by the Company’s chief financial officer for compensation and to settle accrued liabilities of $26,667 pursuant to the related service agreement (See Note 6). The shares were valued at $26,667 based on 60% of the closing bid price of the Company’s common stock on the last trading day of the previous quarter as defined in the service agreement. No gain or loss was recognized on this retainersettlement.

On June 1, 2015, the Company issued 250,000 vested shares of common stock to a consultant for marketing services to be rendered. The shares were valued at the fair market value of $0.054 per share on the grant date which is the measurement date based on the closing bid price on the grant date. The Company recorded stock-based marketing service fees of $1,125 for the three months ended June 30, 2015 and had a remaining prepaid expense of $12,375 at June 30, 2015, which will be amortized over the remaining service period.

Warrants

The Company issued warrants with the sale of common stock during the three months ended June 30, 2015. These warrants have an exercise price of $0.07 per share and expire in 5 years from issuance dates. Warrant activities for the three months ended June 30, 2015 were as follows:

There was no intrinsic value of the warrants at June 30, 2015.

The following table summarizes the shares of the Company’s common stock issuable upon exercise of warrants outstanding at June 30, 2015:

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2015

NOTE 9–CONCENTRATIONS AND COMMITMENTS

Concentrations

Customers

No customer accounted for 10% or more of the Company’s revenue during the three months ended June 30, 2015 and 2014.

Suppliers

No supplier accounted for 10% or more of the Company’s purchase during the three months ended June 30, 2015 and 2014.

Commitments

Service contracts

In September 2014, the Company signed an eight-month agreement with Applied DNA to work together, in good faith, on a business partnership focused on using Applied DNA Sciences’ unique SigNature© DNA taggant platform, digitalDNA © software platform and other products as required for DNA marking, tracking and authentication of sports collectibles and sports memorabilia uniquely and authentically identified to an athlete (“Goods”) and offered either within a True2Bid online auction exchange environment or through other means of sale. The agreement requires a cash payment of $35,000, of which $10,000 has been paid and the balance of $25,000 was scheduled to be paid in two payments of $12,500 each on February 1, 2015 and June 1, 2015. However, there has been no development pursuant to the three phases as defined in the agreement and, accordingly, the Company believes an obligation does not exist and does not intend to pay these installments until the milestones are reached. This agreement expired in May 2015.

On October 29, 2014, the Company entered into a service agreement with CFO Oncall, effective on November 1, 2014. In accordance to the service agreement, the Companyservice fee is to pay Weed & Company a monthly fee of $10,000.

On May 1, 2015, the Company entered into a one-year legal service agreement with an attorney who has agreed to provide corporate and securities related legal services to the Company. The agreement expires on April 30, 2016. In accordance to this legal service agreement, the Company also has accruedpays (a) a monthlyflat cash fee of $3,500 to him as compensation for serving as corporate secretary (a total of $10,500 was accrued in the current quarter).  A law firm of which Mr. Weed is a partner is also due a monthly$1,000 per month; and (b) an annual stock fee of $10,000 under a retainer agreement that was effective on February 1, 2010 (a total of $30,000 was accrued in the current quarter under this agreement).  Mr. Weed and Weed & Company, LLP are due a total of $50,800 as a result175,000 shares of the aforementioned arrangementsCompany’s common stock. The Company issued the 175,000 shares of common stock in June 2015 (See Note 8 – Common stock issued for service). The accrued service fees related to the service agreement at June 30, 2015 was $1,000 which was included in accounts payable and the advances. 

On May 1, 2015, the Company entered into a one-year consulting agreement with an Exchange Agreement with Hair Tech International, Inc., a Georgia corporation (“Hairtech”), and Dreamcatchers International, Inc., a Georgia corporation (“Dreamcatchers”).  Underattorney who has agreed to provide consulting services to the Company. The agreement expires on April 30, 2016. In accordance to this consulting agreement, the Company agreed to issue 3,400,000 (34,000,000 post stock dividend)pays this consultant (a) $6,000 in equal monthly installments; and (b) 180,000 shares of the Company’s common stock. The Company issued the 180,000 shares of common stock in June 2015 (See Note 8 – Common stock issued for services). The accrued service fees related to the service agreement at June 30, 2015 was $1,000 which was included in accounts payable and accrued liabilities.

LEGACYXCHANGE, INC. AND SUBSIDIARY

(FORMERLY TRUE 2 BEAUTY INC.)

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2015

NOTE 9–CONCENTRATIONS AND COMMITMENTS (continued)

Commitments (continued)

Service contracts (continued)

On June 1, 2015, the Company entered into a one-year consulting agreement with a consultant who has agreed to provide consulting services to the Company. The agreement expires on May 31, 2016. In accordance to this consulting agreement, the Company pays the consultant (a) Per Tier 1 athlete/celebrity: (i) 2,500 shares of the Company’s common stock; (ii) 4% of the advertising revenue generated from items offered for sale on the site related to the athlete/celebrity, which were not sold directly by the athlete/celebrity; (iii) 1% of the net item sales of any original merchandise sold by the athlete/celebrity; (b) For all other tiers, including collectible specialists, corporations: (i) 1,500 shares of the Company’s common stock; (ii) 3% of the advertising revenue generated from items offered for sale on the site related to the athlete/celebrity, which were not sold directly by the athlete/celebrity; (iii) 1% of the net item sales of any original merchandise sold by the athlete/celebrity or entity; (c) 250,000 shares of the Company’s common stock upon signing, plus $3,500 per month for the following services: (i) advisory services related to professional sports franchises; (ii) introduction to sports related industry leaders; (iii) assistance in athlete management; (iv) assistance in athlete promotions. For (a) and (b), the percentage of net sales and percentage of advertising revenue will be paid to the consultant as long as the athlete/celebrity/other remains a vendor for the Company, otherwise the consultant earns no commission or fees. The consultant will be paid any commission on the 10^th of each month for revenue generated in the preceding month, and the Company’s newly formedfirst of every month for the $3,500 monthly payment. The Company issued the 250,000 shares of common stock in June 2015 (See Note 8 – Common stock issued for service).

NOTE 10 –SUBSEQUENT EVENTS

On December 17, 2014, pursuant to a name change filing with the Nevada Secretary of State, the Company changed the name of its subsidiary, 2010 Asset Corp.True 2 Bid, Inc., agreed to acquire certain assets and assume certain liabilities.LegacyXChange, Inc. On May 18, 2010,July 2, 2015, pursuant to a Certificate of Dissolution filing with the Exchange Agreement dated January 19, 2010 amongNevada Secretary of State, the Company dissolved LegacyXChange, Inc. (formerly True2Bid, Inc.) to allow for the change in name of its parent company, True 2 Beauty, Inc. (formerly,, to LegacyXChange, Inc.

On June 24, 2015, the Company’s Board of Directors approved of a name change from True 2 Beauty, Inc. to LegacyXChange, Inc. (the “Name Change”) and on June 29, 2015 shareholders holding 51.8% of our issued and outstanding shares approved and adopted the Name Change.  The State of Nevada approved the Certificate of Amendment affecting the Name Change on July 6, 2015 to be effective as of July 2, 2015. In connection with the Name Change the Company will: (a) file an Issuer Form with FINRA; (b) have its Transfer Agent file a Transfer Agent Form with FINRA; and (c) file for a new stock symbol with FINRA.

On July 9, 2015, $27,510 principal amount of the Company’s Fiscal 2015 Convertible Notes and $10,792 accrued interest was converted into 1,915,084 shares of the Company’s common stock.

On July 22, 2015, $36,000 principal amount of the Company’s Fiscal 2015 Convertible Notes was converted into 1,800,000 shares of the Company’s common stock.

On July 27, 2015, $25,000 principal amount of the Company’s Fiscal 2015 Convertible Notes was converted into 1,250,000 shares of the Company’s common stock.

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Overview

We were originally incorporated as Burrow Mining, Inc.), a Nevada corporation, (the “Company”), Hair Tech International, Inc., a Georgia corporation (“Hairtech”), and Dreamcatchers International, Inc., a Georgia corporation (̶ 0;Dreamcatchers”) was terminated.  The transaction was terminated at the request of Hairtech and Dreamcatchers.