What was the total amount of Dryject's notes payable as of December 31?
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)
The 2025 Dryject FDD contains information regarding Dryject's line of credit and transactions with related parties, but it does not specify the total amount of notes payable as of December 31 for any year. The FDD mentions a revolving line of credit and accounts payable to DryJect Inc. Acquisition Corporation, but these are distinct from "notes payable."
Specifically, the line of credit is a $500,000 revolving line of credit with WSFS Bank, with an outstanding balance of $120,141 as of both December 31, 2024, and December 31, 2023. This line of credit is held by DryJect Inc. Acquisition Corporation, not directly by Dryject Management, LLC. Additionally, Dryject had accounts payable to DryJect Inc. Acquisition Corporation of $24,541 in 2024 and $95,314 in 2023 due to management fees.
To determine the total notes payable, a prospective franchisee should ask Dryject for the complete financial statements. This will provide a clear picture of all outstanding debts, including notes payable, and offer a more comprehensive understanding of Dryject's financial obligations.