What was the current portion of long-term debt for Dryject 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 current portion of long-term debt for Dryject in 2022 was $148,217. This figure represents the amount of Dryject's long-term debt that was due within one year from the date of the balance sheet.
For a prospective Dryject franchisee, understanding the current portion of long-term debt is crucial because it indicates the company's short-term financial obligations. A high current portion of long-term debt relative to current assets could suggest potential liquidity issues, meaning Dryject might face challenges in meeting its immediate debt obligations.
It is important to note that this figure is just one component of Dryject's overall financial health. A prospective franchisee should review the complete financial statements and consult with a financial advisor to assess the overall risk and stability of the franchise opportunity.