What was the amount of Dryject's long-term debt, net of current portion, in 2022?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
ther matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that I identified during the audit.
Neptune, New Jersey
KOGER K. STEIN, CPA LLC
March 31, 2023
DRYJECT MANAGEMENT, LLC BALANCE SHEETS DECEMBER 31, 2022 AND 2021
| 2022 | _ | 2021 | ||
|---|---|---|---|---|
| ASSETS | ||||
| Current Assets: | ||||
| Cash | S | 168,705 | $ | 246,487 |
| Accounts receivable | 206,666 | 133,394 | ||
| Total Current Assets | - | 375,371 | 379,881 | |
| Intangible Assets: | ||||
| Goodwill | 1,509,159 | 1,509,159 | ||
| Organization costs | 9,618 1,518,777 | 9,618 1,518,777 | ||
| Less: Accumulated Amortization | 7 | (977,993) | (827,078) | |
| Net Intangible Assets | 540,784 | 691,699 | ||
| Total Assets | $ | 916,155 | s | 1,071,580 |
| LIABILITIES AND MEMBER'S CAPITAL | ||||
| Current Liabilities: | ||||
| Accounts payable | $ | 195,817 | $ | 173,723 |
| Accrued expenses | 20,910 | 12,394 | ||
| Current portion of long-term debt | 148,217 |
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company's long-term debt, net of the current portion, was $542,827 in 2022. This figure represents the amount of Dryject's debt obligations that are not due within the next 12 months, providing a view of the company's more extended financial commitments..
For a prospective franchisee, this number is an indicator of Dryject's financial leverage and long-term solvency. A higher amount of long-term debt could suggest that the company has significant fixed payment obligations stretching into the future. It is important to note that this debt is allocated 75% to the company and 25% to DryJect Inc. Acquisition Corporation.
Reviewing the trend of Dryject's long-term debt over several years, as presented in the FDD, can provide further insights. Comparing this debt to Dryject's assets and equity can help assess the company's debt-to-equity ratio and its ability to manage its debt obligations. Additionally, understanding the terms of the debt, such as interest rates and maturity dates, is crucial for evaluating the financial risk associated with Dryject.