What is the total number of common shares of stock that Deck Medic has the authority to issue?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
6. ADVERTISING EXPENSES
Advertising costs for the years ended December 31, 2023 and 2022 were $54,835 and $69,863 respectively. These costs were expensed as incurred.
7. STOCKHOLDERS' EQUITY
Under the articles of incorporation, the total number of common shares of stock that the Co
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the corporation is authorized to issue a total of 1,000 common shares of stock. These shares have a par value of $1 each, resulting in a total par value of $1,000 for all authorized shares. As of December 31, 2023 and 2022, all 1,000 shares were issued and outstanding.
This information is relevant to prospective franchisees as it provides insight into the company's capitalization and ownership structure. The fact that all authorized shares are already issued and outstanding could indicate a closely held ownership structure.
Additionally, the FDD states that on December 31, 2023 and 2022, Deck Medic had $2,000 in additional paid-in capital. This represents the amount by which the actual sale price of the shares exceeded their par value. Understanding the equity structure can help franchisees assess the financial stability and potential future capital needs of Deck Medic.
It is important for potential franchisees to consult with financial advisors to fully understand the implications of the company's stock structure and financial statements. This information, combined with other aspects of the FDD, can contribute to a comprehensive evaluation of the franchise opportunity.