What was the accumulated amortization for C12 Group's website and applications at December 31, 2023?

According to C12 Group's 2025 Franchise Disclosure Document, the company had capitalized costs for the development and implementation of their website and application for use by Chairs and members. These costs are treated as intangible assets and are amortized using the straight-line method over a five-year life. As of December 31, 2023, the accumulated amortization for C12 Group's website and applications totaled $185,725.

For a prospective franchisee, this figure indicates the cumulative amount of the website and application costs that have been expensed over their useful life up to that point in time. The fact that C12 Group capitalizes and amortizes these costs suggests that they consider the website and application to be significant assets that provide long-term benefits to the company and its franchisees.

It's worth noting that the accumulated amortization increased from $152,530 at December 31, 2022, to $185,725 at December 31, 2023, indicating that additional amortization expense was recognized during the year. This could be due to the continued amortization of existing website and application costs, as well as the capitalization and subsequent amortization of additional functionalities added during the year. Prospective franchisees may want to inquire about the nature and extent of ongoing investments in the website and application, as well as the expected useful life of these assets for amortization purposes.