What was the reported value of Chem Dry's stockholders' equity?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
December 31, 2023, 2022, and 2021 (000s omitted)
Note 1 - Nature of Business
BFG Holdco, Inc., with its wholly owned subsidiaries, Chem-Dry, Inc. (Chem-Dry); NHance, Inc. (N-Hance); Delta Disaster Services, LLC d/b/a Delta Restoration Services (DRS); Delta Development Group, LLC (DDG); and Delta Asset Management, LLC (DAM) (together with DRS and DDG, Delta) (collectively, the "Company"), is a wholly owned subsidiary of Belfor USA Group, Inc. BFG Holdco, Inc. was formerly known as HRI Holdings, Inc. until February 13, 2023, when its name was changed to BFG Holdco, Inc. Chem-Dry, Inc. was formerly known as Harris Research, Inc. until February 13, 2023, when its name was changed to Chem-Dry, Inc.
On December 31, 2019, all the outstanding shares of NHance, Inc. were contributed to BFG Holdco, Inc. The transaction qualified as a pooling-of-interests transaction in accordance with accounting principles generally accepted in the United States of America due to common control.
As a result, the consolidated financial statements presented include the activity of NHance, Inc. All of the assets and liabilities have been accounted for at their carryover basis.
A summary of the Company's operations, which are headquartered in Nashville, Tennessee, is as follows:
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
I am unable to provide the stockholders' equity for Chem-Dry from the provided excerpts of the 2024 Franchise Disclosure Document. While the excerpts include financial statements from December 31, 2023, 2022, and 2021, they do not specify the stockholders' equity. The excerpts focus on the nature of the business, brand marketing fund contributions, and general franchise information, but omit details about the company's equity.
A prospective Chem-Dry franchisee would typically review the balance sheet within the FDD to assess the company's financial stability and capitalization. Stockholders' equity is a crucial metric for understanding the net worth of the company and its ability to meet its financial obligations.
To obtain this information, a potential franchisee should specifically request the complete audited financial statements, including the balance sheets, from Chem-Dry. This will allow for a thorough evaluation of the company's financial health and stability before making any investment decisions.