What was the gain on sale of property and equipment for Exit in 2022?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
roperty and equipment | 2,125,033 | - | 20,291 | | Impairment of digital assets | - | - | (1,820,185) | | Legal settlement | (1,500,000) | - | - | | Interest | 137,304 | 78,187 | 170,816 | | Total other income (expense) | 762,337 | 78,187 | (1,629,078) | | Loss before provision for income taxes and non-controlling | | | | | interests | (389,110) | (1,814,746) | (2,480,526) | | Benefit for income taxes | (459,827) | (486,997) | (342,266) | | Consolidated net income (loss) | 70,717 | (1,327,749) | (2,138,260) | | Noncontrolling interest in subsidiary's loss | 616 | 463 | 691 | | Net income (loss) before foreign currency translation gain (loss) | 71,333 | (1,327,286) | (2,137,569) | | Foreign currency translation gain (loss), net of tax | (162,790) | 7,338 | (40,611) | | Net comprehensive loss | $ (91,457) | $ (1,319,948) | $ (2,178,180) |
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| Year Ending December | 31 | Amount | |---|---|---| | 2025 | | $ 290,017 | See accompanying notes to the consolidated financial statements
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, in 2022, the gain on the sale of property and equipment was a loss of $20,291. This figure is part of the adjustments made to reconcile net income (loss) to net cash used in operating activities.
For a prospective Exit franchisee, this number reflects the financial transactions related to the disposal of assets. A negative value indicates that Exit incurred a loss when selling property and equipment during that year. This loss could be due to the assets being sold for less than their book value (original cost less accumulated depreciation).
It's important to note that this is just one line item in the overall financial statement and doesn't necessarily indicate the overall financial health of Exit. Franchisees should consider this figure in the context of other financial data, such as net income, revenues, and expenses, to get a comprehensive understanding of the company's financial performance.