Does the table specify any obligations related to the Dryject franchise based on the data for 2024 and 2023?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
turity of three months or less to be cash equivalents. For the year ended December 31, the amounts paid for income taxes and interest were as follows:
| Interest | $ | 43,844 | $ | 58,812 | |
|---|---|---|---|---|---|
| Income taxes | $ | - 4 | S | = |
- Note 6 Line of Credit The Company and DryJect Inc. Acquisition Corporation have a $500,000 revolving line of credit with WSFS Bank, with interest at 2% over prime, of which $120,141 was outstanding as of December 31, 2024 and $120,141 was outstanding as of December 31, 2023. The line of credit, for the first three years will be a revolving line of credit. As of August 2026, the outstanding balance shall be termed out in monthly payments of principal and interest and is due to expire in August 2033. The line of credit balance is reflected on the books of DryJect Inc. Acquisition Corporation since the proceeds are deposited directly into the Corporation and used for their expenses.
- Note 7 Transactions with Related Parties For the year ended December 31, the Company incurred managemen
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, there is no table that specifies obligations related to the Dryject franchise based on the data for 2024 and 2023. However, the financial statements do include information on the company's financial obligations and transactions with related parties during those years.
Specifically, the financial statements mention a revolving line of credit. The balance outstanding as of December 31, 2024, and December 31, 2023, was $120,141. Additionally, Dryject incurred management fees to DryJect Inc. Acquisition Corporation of $745,000 in 2024 and $710,000 in 2023. At the end of those years, Dryject had accounts payable to DryJect Inc. Acquisition Corporation of $24,541 in 2024 and $95,314 in 2023.
This information is useful for prospective franchisees as it provides insight into Dryject's financial health and its dealings with related parties. Reviewing these figures can help potential franchisees assess the financial stability of Dryject and understand the nature of its financial obligations. However, it is important to note that this data reflects the financial performance of the company itself and not necessarily the performance or obligations of individual franchisees.