What was the total value of C12 Group's assets in 2023?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
planned scope and timing of the audit, significant audit findings, 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
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the total value of C12 Group's assets as of December 31, 2023, is not explicitly stated. While the provided excerpts include balance sheets for December 31, 2023, and December 31, 2022, as well as an independent auditor's report for the financial statements as of December 31, 2023, the specific figure for total assets is not disclosed in the provided excerpts.
However, the excerpts do provide some insight into C12 Group's assets and accounting practices. Goodwill amortization was $11,995 annually through 2031, with accumulated amortization totaling $35,986 at the end of 2023. The company also wrote off $80,862 in goodwill related to the sale of C12 Atlanta in 2023. Additionally, the company capitalizes costs for its website and applications, with accumulated amortization of $185,725 as of December 31, 2023.
To determine the total asset value, a prospective franchisee should review the full audited financial statements within the FDD, specifically the balance sheet. If the information is not present, they should ask C12 Group's management directly for the total asset figure as of December 31, 2023. Understanding the asset composition and overall financial health of the franchisor is crucial for making an informed investment decision.