What was the amount of restricted cash for C12 Group in 2022?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
| Weighted Average Remaining Lease Term (years) Operating leases | ||
|---|---|---|
| Weighted Average Discount Rate Operating leases The maturities of lease liabilities as of December 31, 2022 were as follows: | 0.06% | |
| 2023 | $ | 131,708 |
| 2024 | 131,708 | |
| 2025 | 32,926 | |
| 2026 | Thereafter | - - |
9. Concentration of Credit Risk of Financial Instruments
Financial instruments that potentially subject the Company to concentrations of credit risk consist of its cash balances at the banks if such balances exceed the amount insured by Federal Deposit Insurance Corporation (FDIC). Accounts at the institutions are insured by the FDIC up to $250,000. At December 31, 2022 and 2021, the cash balance at the Company's finan
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document for C12 Group does not explicitly state the amount of "restricted cash" held by the company in 2022. However, it does mention the amount by which the company's cash balances at banks exceeded the Federal Deposit Insurance Corporation (FDIC) limit.
Specifically, the FDD indicates that at December 31, 2022, C12 Group's cash balance at its financial institution exceeded the FDIC limit by $1,695,701. This means that the company had a significant amount of uninsured cash held in its accounts. The FDIC insures accounts up to $250,000, so the amount exceeding this limit was not protected by FDIC insurance.
While this information doesn't directly answer the question about "restricted cash," it provides insight into C12 Group's cash management practices and the level of uninsured cash it held at the end of 2022. A prospective franchisee might want to inquire with C12 Group about their policies regarding cash management and the reasons for maintaining balances above the FDIC insurance limit.