What was the Class B balance for City Wide as of December 31, 2022?
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 |
| Additional paid-in capital | 366,366 | 366,366 | 366,366 |
| Accumulated other comprehensive income | 54,347 | 14,840 | 21,493 |
| Retained earnings | 13,031,512 | 10,452,951 | 17,969,298 |
| Total stockholders’ equity | 13,664,325 | 11,046,257 | 18,569,257 |
| Total liabilities and stockholders’ equity | $ 39,487,375 | $ 33,801,707 | $ 35,090,119 |
Source: Item 23 — RECEIPT (FDD pages 65–271)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the Class B balance as of December 31, 2022, was $210,000. This figure represents the value of the Class B nonvoting stock, with 21,000,000 shares issued and outstanding at a par value of $0.01 per share. This information is part of the consolidated balance sheets included in the FDD.
The Class B stock is nonvoting, meaning that holders of this stock do not have voting rights in company matters. The FDD specifies that there were 21,000,000 shares authorized and outstanding. This indicates the total amount of this type of stock that City Wide has issued to investors or other stakeholders.
Prospective franchisees should understand the capital structure of City Wide, including the different classes of stock and their associated rights. While the Class B balance itself may not directly impact day-to-day franchise operations, it provides insight into the company's overall financial structure and equity distribution. Reviewing the complete balance sheets and understanding the roles of different stock classes can help franchisees assess the financial stability and governance of the franchisor.