What was the net property and equipment for C12 Group in 2022?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
dings, and certain internal control related matters that we identified during the audit.
ADKF, P.C. San Antonio, Texas March 25, 2024
ADKF,PC
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THE C12 GROUP, LLC Balance Sheets December 31, 2023 and 2022
| ASSETS | 2023 | 2022 |
|---|---|---|
| Current Assets: | ||
| Cash and cash equivalents | $ 1,601,398 | $ 1,015,305 |
| Restricted cash | 239,964 | 918,064 |
| Total cash | 1,841,362 | 1,933,369 |
| Accounts receivable | 592,343 | 535,847 |
| Notes receivable, current portion | 111,967 | B |
| Supply inventory | 209,905 | 169,408 |
| Prepaid expenses | 50,538 | 50,152 |
| Total current assets | 2,806,115 | 2,688,776 |
| Property and Equipment: | ||
| Office furniture, fixtures and equipment | 76,140 | 76,140 |
| Less accumulated depreciation | (42,603) | (31,726) |
| Net property and equipment | 33,537 | 44,414 |
| Other Assets: | ||
| Goodwill, net of accumulated amortization | 83,966 | 176,823 |
| Website and applications, net of accumulated amortization | 383,284 | 306,851 |
| Right-of-use operating lease assets | 163 |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the net property and equipment for 2022 was $44,414. This figure is calculated by taking the original cost of office furniture, fixtures, and equipment, which was $76,140, and subtracting accumulated depreciation of $31,726.
For a prospective franchisee, this indicates the level of investment C12 Group itself has in its own property and equipment. It is important to note that these figures reflect the financial position of the franchisor, C12 Group, and not the potential investment required by a new franchisee to start their own C12 Group franchise.
It's also worth noting that the net property and equipment decreased from $44,414 in 2022 to $33,537 in 2023. This could be due to increased depreciation, disposal of assets, or a combination of factors. A prospective franchisee may want to inquire about the reasons for this change to better understand C12 Group's capital expenditure strategy.