Are there any related party transactions disclosed in connection with the Dryject Management, LLC balance sheets?
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 are related party transactions disclosed. Specifically, Dryject Management, LLC has transactions with DryJect Inc. Acquisition Corporation, an entity with a common owner. These transactions include management fees and accounts payable.
For the year ending December 31, 2024, Dryject incurred management fees of $745,000 to DryJect Inc. Acquisition Corporation, and in 2023, the management fees were $710,000. As of December 31, Dryject Management, LLC had an account payable of $24,541 in 2024 and $95,314 in 2023 to DryJect Inc. Acquisition Corporation.
Additionally, Dryject and DryJect Inc. Acquisition Corporation have a $500,000 revolving line of credit with WSFS Bank, with interest at 2% over prime. As of December 31, 2024 and 2023, $120,141 was outstanding. The line of credit is reflected on the books of DryJect Inc. Acquisition Corporation because the proceeds are deposited directly into that corporation and used for its expenses. This line of credit is set to expire in August 2033, with the outstanding balance to be termed out in monthly payments starting in August 2026.