What was the balance of Class B for City Wide on December 31, 2024?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| Common stock | |||
|---|---|---|---|
| Class A voting, $.01 par value; 300,000 shares | |||
| authorized, 210,000 shares issued and outstanding | 2,100 | 2,100 | 2,100 |
| Class B nonvoting, $.01 par value; 30,000,000 shares | |||
| authorized, 21,000,000 shares issued and outstanding | 210,000 | 210,000 | 210,000 |
Source: Item 23 — RECEIPT (FDD pages 65–271)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the balance of Class B nonvoting stock as of December 31, 2024, was $210,000. This figure represents the value of the issued and outstanding shares of Class B stock, which are nonvoting shares with a par value of $0.01 each. There are 21,000,000 shares issued and outstanding.
This information is part of the broader financial overview of City Wide, providing insight into the company's equity structure. Franchisees may want to understand the different classes of stock and their implications for ownership and control within the company. While Class B stock does not carry voting rights, its value and the number of shares outstanding can reflect the overall financial health and investor confidence in City Wide.
Prospective franchisees should consider this information in conjunction with other financial data provided in the FDD, such as retained earnings, total stockholder equity, and liabilities, to gain a comprehensive understanding of City Wide's financial position. Understanding the equity structure can help franchisees assess the stability and long-term prospects of the franchise system.