What is the amount of restricted cash reported for C12 Group in 2023?
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)
Based on the 2025 FDD, the financial statements for C12 Group do not explicitly state a specific amount for "restricted cash" for 2023. However, the document does mention cash balances held at banks and the extent to which these balances exceed the Federal Deposit Insurance Corporation (FDIC) insurance limits.
Specifically, the FDD notes that at December 31, 2022, C12 Group's cash balance at its financial institution exceeded the FDIC limit by $1,695,701. While this indicates the amount of cash held above insured limits, it does not directly address whether any of the cash is specifically restricted for particular uses. The presence of cash exceeding FDIC limits suggests the company maintains substantial cash reserves, but without further details, it's impossible to determine if any portion is legally or contractually restricted.
A prospective franchisee should inquire with C12 Group about the company's cash management practices, including the amounts of cash typically held in excess of FDIC insurance limits and whether any of the company's cash is subject to restrictions that could affect its availability for operational needs or distributions.