What was the value of the operating lease right-of-use assets for the C12 Group in 2021?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
cial statements of which an unmodified opinion was expressed on those financial statements.
Schriver, Carmona & Company, PLLC
San Antonio, Texas March 15, 2023
Consolidated Balance Sheets December 31, 2022 and 2021
| Assets | 2022 | 2021 |
|---|---|---|
| Current Assets: Cash and Cash Equivalents Restricted Cash Accounts Receivable Supplies Inventory and Other Assets | $ 1,015,305 918,064 535,847 219,560 | $ 557,712 122,954 450,982 155,640 |
| Total Current Assets | 2,688,776 | 1,287,288 |
| Website and Computer Equipment | 459,381 | 356,713 |
| Office Furniture and Equipment | 76,140 | 76,140 |
| Less: Accumulated Depreciation | (184,256) | (104,887) |
| Property and Equipment, Net of Accumulated Depr |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the value of the operating lease right-of-use assets in 2021 was not specified. However, the document does show that the operating lease right-of-use assets for 2022 was $303,466.
Additionally, under the assets section of the consolidated balance sheets, the operating lease right-of-use assets for 2021 is listed as "-". This indicates that C12 Group did not have any operating lease right-of-use assets in 2021.
A prospective franchisee should inquire with C12 Group about the reasons for not having operating lease right-of-use assets in 2021 and the details of the leases that led to the $303,466 value in 2022. Understanding the nature and terms of these leases is important for assessing the company's financial obligations.