What was the total amount of Dryject's long-term debt, net of current portion, in 2021?
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 total long-term debt, net of the current portion, was $689,866 in 2021. This figure represents the amount of Dryject's debt obligations that are not due within the next 12 months.
For a prospective franchisee, this number provides insight into Dryject's financial leverage and long-term solvency. A higher amount of long-term debt could indicate a greater financial risk for the franchisor, which could indirectly affect franchisees. It is important to note that this debt is allocated to the company and is net of the current portion, meaning the amount due within the year has already been subtracted.
It is important for potential franchisees to consider the long-term debt in conjunction with other financial metrics, such as revenue and profitability, to get a comprehensive understanding of Dryject's financial health. Additionally, understanding the terms of the debt, such as interest rates and repayment schedules, can provide further insight into the company's financial obligations.