What was the balance of Class B for City Wide on January 1, 2022?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| Class A | Class B | Capital | Earnings | Income (Loss) | Total | |
|---|---|---|---|---|---|---|
| Balance January 1, 2022 | $ 2,100 | $ 210,000 | $ 366,366 | $ 15,459,388 | $ (5,506) | $ 1 6,032,348 |
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 on January 1, 2022, was $210,000. This figure represents the value of the Class B shares issued and outstanding at that time. These shares are non-voting, meaning the holders do not have the right to vote on company matters.
The Class B stock is part of the overall capitalization structure of City Wide. The FDD indicates that 21,000,000 shares were authorized and outstanding. This information is relevant to potential franchisees as it provides insight into the company's equity structure and how ownership is distributed.
Understanding the different classes of stock and their associated rights is crucial for assessing the financial health and governance of City Wide. Prospective franchisees should consult with a financial advisor to fully understand the implications of the company's stock structure.