Does Dryject have any foreign assets or liabilities?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
. Actual results could differ from those estimates. Management periodically evaluates estimates used in the preparation of the financial statements for continued reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation.
Concentrations of Credit Risk - The Company maintains its cash balances at a financial institution where balances are insured by the Federal Deposit Insurance Corporation up to $250,000. At December 31, 2024, the Company had no uninsured cash balances.
- Note 2 Goodwill The accounting of the purchase of 100% of the membership units in 2016 resulted in the recognition of goodwill of $1,509,159. The Company adopted ASC 350-20-35-63 which allows private companies the option of amortizing goodwill over ten years on a straight-line basis.
- Note 3 Transfer of membership In August 2016, 100% of the ownership of the LLC was transferred to a new member. The purchase was financed with a note from WSFS Bank, guaranteed by the SBA, for $1,547,800 and a seller financed note of $300,000. The purchase price was $1,500,000 for 100% of the ownership of the LLC and $500,000 for the assets in DryJect Inc. The debt and cost of the financing is allocated 75% to the Company and 25% to DryJect Inc. Acquisition Corporation. The loan is collateralized by the assets of the Company and DryJect Inc. Acquisition Corporation. The note is guaranteed by the member.
Note 4 - Long-term debt - As stated in Note 3, the Company reports 75% of the debt for the purchase on its
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
Based on the 2025 Dryject Franchise Disclosure Document, there is no mention of Dryject having any foreign assets or liabilities. The document details the company's financial arrangements, including cash balances, goodwill, debt, and credit lines, all within the United States. Specifically, the company maintains cash balances at a financial institution insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Additionally, the company has a revolving line of credit with WSFS Bank. These financial activities are based within the U.S.
The absence of information regarding foreign assets or liabilities suggests that Dryject's financial operations, as disclosed in the FDD, are primarily domestic. This could mean that Dryject is not currently engaged in international business ventures or does not hold assets or owe debts to entities outside of the United States.
For a prospective franchisee, this information indicates that Dryject's financial structure is relatively straightforward and focused on domestic operations. However, it is important to confirm with Dryject whether they have any plans for international expansion or if there are any unreported foreign financial interests that could potentially impact the franchise system in the future.