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What was the par value of the common stock (voting shares) for the Gokhale Method in 2023?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
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| 2023 | |
|---|---|
| ASSETS | |
| Cash and cash equivalents Accounts receivable, net | $ 154,584 15,944 |
| TOTAL ASSETS | $ 170,528 |
| LIABILITIES AND STOCKHOLDER'S EQUITY | |
| LIABILITIES Accounts payable and other current liabilities Deferred revenue | $ 8,491 48,956 |
| Total liabilities | 57,447 |
| STOCKHOLDER'S EQUITY Common stock (1,000 voting shares authorized, 500 shares issued and outstanding, $0.01 par value) | 5 |
| Common stock (1,000 non-voting shares authorized, no shares issued and outstanding, $0.01 par value) | - |
| Additional paid in capital Retained earnings | 100,657 12,419 |
| Total stockholder's equity | 113,081 |
| TOTAL LIABILITIES & STOCKHOLDER'S EQ |
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Gokhale Method's common stock (voting shares) had a par value of $0.01 in 2023. There are 1,000 voting shares authorized, with 500 shares issued and outstanding.
Additionally, Gokhale Method has authorized 1,000 non-voting shares, also with a par value of $0.01, but no shares have been issued or are outstanding. This information is part of the stockholder's equity details provided in the financial statements.
This indicates the nominal value assigned to each share upon issuance, which is a standard accounting practice. While the par value is a very small amount, it is a necessary component of the company's capitalization structure.
Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only.
It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.