In 2022, how much money did dermani Sandy Springs advance to Dermani Medspa?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
head), a related entity wholly owned by the sole member of the Company, made advances in the amount of $20,000 to the Company. The funds were provided by Buckhead to meet current obligations and will be repaid as funds become available. The advance from Buckhead is non‐interest bearing and has been classified as a long‐term liability in the accompanying balance sheet because there is no requirement for the funds to be repaid during the next year. The balance as of December 31, 2022 was $20,000.
NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2022
5. RELATED PARTY ACTIVITY (CONTINUED)
In 2022, dermani Sandy Springs, a related entity wholly owned by the sole member of the Company, made advances in the amount of $30,000 to the Company. The funds were provided by Sandy Springs to meet current obligations and will be repaid as funds become available. The advance from Sandy Springs is non‐interest bearing and has been classified as a long‐term liability in the accompanying balance sheet because there is no require
Source: Item 23 — RECEIPTS (FDD pages 66–311)
What This Means (2025 FDD)
The 2025 Dermani Medspa FDD's Item 23 discusses advances made to the company in 2022 by related entities. Specifically, dermani Buford advanced $50,000, and dermani Vinings advanced $30,000 to Dermani Medspa Franchising, LLC. These funds were intended to meet current obligations and are to be repaid as funds become available. These advances are non-interest bearing and classified as long-term liabilities because there's no requirement for repayment within the next year. The balances for these advances as of December 31, 2022, were $50,000 for Buford and $30,000 for Vinings.
However, the document does not mention any advances made by dermani Sandy Springs to Dermani Medspa Franchising, LLC in 2022. Therefore, based on the information provided, it is not possible to determine if dermani Sandy Springs made any advances to the company during that year.
A prospective franchisee should directly ask Dermani Medspa's franchisor about any financial transactions involving dermani Sandy Springs to gain a complete understanding of the company's financial relationships with its related entities.