What were the total shares issued for Beehive Homes in 2023?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
2022 are as follows:
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Common Stock, $0.69 par value, shares outstanding Treasury stock, at cost | 425 | 425 | 850 |
| 425 | 425 | 0 | |
| Total shares issued | 850 |
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the total shares issued in 2023 were 850. The common stock has a par value of $0.69. The shares outstanding were 425, and treasury stock was 425.
In 2023, Beehive Homes engaged in a transaction to repurchase common stock from one of its founding shareholders. Specifically, the company repurchased 425 shares, representing 50% of the total outstanding stock, for $1,406,076. This repurchase was financed through a note payable with a face value of $1,750,000. The present value of the future cash flow for this note payable was valued at $1,406,076, with an unamortized discount of $343,924 as of December 31, 2023.
Beehive Homes also agreed to cover the premiums for a life insurance policy owned by the former shareholder for ten years as part of the agreement. The former shareholder is the beneficiary, and these premium payments will be treated as compensation over the policy's term. This detail is important for prospective franchisees to understand, as it reflects the financial restructuring and obligations Beehive Homes has undertaken.
At the end of 2023, Beehive Homes had 1,000 authorized shares of common stock, with 850 shares issued. This information provides a snapshot of the company's equity structure and historical transactions, which can be relevant for assessing the financial health and stability of the franchisor.