What is the difference in notes receivable, current portion between 2023 and 2024 for C12 Group?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
indings, and certain internal control related matters that we identified during the audit.
ADKF, P.C.
San Antonio, Texas
ADKF,PC
March 21, 2025
THE C12 GROUP, LLC Balance Sheets December 31, 2024 and 2023
| ASSETS | 2024 | 2023 |
|---|---|---|
| Current Assets: | ||
| Cash and cash equivalents | $ 1,641,633 | $ 1,601,398 |
| Restricted cash | 1,387,034 | 239,964 |
| Total cash | 3,028,667 | 1,841,362 |
| Accounts receivabl |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the notes receivable, current portion, decreased from 2023 to 2024. In 2023, the notes receivable, current portion, was $111,967, while in 2024, it significantly dropped to $8. This represents a decrease of $111,959 in the notes receivable, current portion, between the two years.
This substantial decrease in notes receivable, current portion, could be attributed to the collection of outstanding notes during 2024. It may also reflect a change in C12 Group's financing or sales strategies, or the sale of the C12 Atlanta entity in January 2023, as noted in the FDD.
A prospective franchisee should investigate the reasons behind this large decrease to understand C12 Group's financial trends and stability. Understanding the nature of these notes receivable and the reasons for the change can provide valuable insights into the company's financial management and risk profile.