What was the total additional paid-in capital for Benihana as of December 31, 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
| December 31, 2022 | December 31, 2021 | ||
|---|---|---|---|
| ASSETS | |||
| Current assets: | |||
| Cash and cash equivalents | $ 55,121 | $ | 23,614 |
| Accounts receivable | 15,220 | 11,356 | |
| Inventory | 5,728 | 3,915 | |
| Other current assets | 2,091 | 3,666 | |
| Due from related parties | 376 | 376 | |
| Total current assets | 78,536 | 42,927 | |
| Property and equipment, net | 94,087 | 69,638 | |
| Operating lease right-of-use assets | 85,161 | 85,395 | |
| Deferred tax assets, net | 12,323 | 12,313 | |
| Intangibles, net | 15,290 | 15,505 | |
| Other assets | 4,774 | 3,199 | |
| Security deposits | 853 | 858 | |
| Total assets | $ 291,024 | $ | 229,835 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||
| Current liabilities: | |||
| Accounts payable | $ 13,055 | $ | 11,094 |
| Accrued expenses | 22,409 | 23,155 | |
| Deferred gift card revenue and other | 2,115 | 2,029 | |
| Current portion of operating lease liabilities | 6,336 | 5,396 | |
| Current portion of long-term debt | 1,500 | 500 | |
| Other current liabilities | 256 | 90 | |
| Total current liabilities | 45,671 | 42,264 | |
| Operating lease liabilities, net of current portion | 105,247 | 103,616 | |
| Long-term debt, net of current portion | 70,544 | 23,132 | |
| Other long-term liabilities | 972 | 298 | |
| Total liabilities | 222,434 | 169,310 | |
| Commitments and contingencies (Note 15) | |||
| Stockholders' equity: | |||
| Common stock, $0.0001 par value, 75,000,000 shares authorized; 32,829,995 issued | |||
| and 31,735,423 outstanding at December 31, 2022 and 32,138,396 shares issued and | |||
| 32,125,762 outstanding at December 31, 2021 | 3 | 3 | |
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued | |||
| and outstanding at December 31, 2022 and December 31, 2021, respectively | — | — | |
| Treasury stock, 1,094,572 and 12,634 shares at cost at December 31, 2022 and | |||
| December 31, 2021, respectively | (7,169) | (37) | |
| Additional paid-in capital | 55,583 | 53,481 |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the additional paid-in capital as of December 31, 2022, was $55,583. This figure represents the excess amount over the par value that investors paid when purchasing shares of Benihana's stock. It is a component of the overall stockholders' equity.
For a prospective franchisee, understanding the financial health of the franchisor is crucial. Additional paid-in capital can indicate investor confidence and the ability of Benihana to fund its operations and growth. A higher number generally suggests that the company has been successful in attracting investment.
It's important to note that this is just one aspect of Benihana's financial condition. Franchisees should review the entire financial statement, including assets, liabilities, and retained earnings, to gain a comprehensive understanding. Consulting with a financial advisor is recommended to interpret these figures in the context of the franchise agreement and potential investment.