What was the total number of voting shares for Gokhale Method as of December 31, 2021?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
22
| 2021 | 2020 | |||
|---|---|---|---|---|
| ASSETS | ||||
| CURRENT ASSETS | ||||
| Cash and cash equivalents | S | 120,520 | 5 | 112,072 |
| Accounts receivable, net | 4,941 | 3,344 | ||
| Other current assets | - | - | 428 | |
| TOTAL ASSETS | S | 125,461 | S | 115,844 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
| CURRENT LIABILITIES | ||||
| Accounts payable | 5 | 8,652 | $ | 6,731 |
| Deferred revenue | 4,825 | 13,248 | ||
| Payable to Teachers | 1,365 | |||
| Other current liabilities | - | 138 | _ | 138 |
| TOTAL LIABILITIES | _ | 14,980 | 1 | 20,117 |
| STOCKHOLDERS' EQUITY | ||||
| Common stock (1,000 voting shares anthorized, 500 shares issued and | 5 | 5 | ||
| outstanding, $0.01 par value) | ||||
| Common stock (1,000 non-voting shares authorized, no shares issued | ||||
| and outstanding, $0.01 par value) | ||||
| Additional Paid in Capital | 74,995 | 74,995 | ||
| Stockholder's contribution | 25,662 | 25,662 | ||
| Retained earnings (accumulated deficit) | _ | 9,819 | (4,935) | |
| Total stockholders' equity | 110,481 | 95,727 | ||
| TOTAL LI |
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, as of December 31, 2021, the company had common stock with 1,000 authorized voting shares, with 500 shares issued and outstanding, at $0.01 par value. Additionally, there were 1,000 authorized non-voting shares, but no shares were issued or outstanding.
For a prospective franchisee, this information provides a snapshot of the company's equity structure and capitalization as of the end of 2021. It shows the number of shares that have voting rights versus those that do not, which can be an indicator of the control and influence of different shareholders within the company.
The FDD also lists the additional paid-in capital as $74,995, stockholder's contribution as $25,662, and retained earnings as $9,819, contributing to a total stockholder's equity of $110,481. This gives a more complete picture of the company's financial position at that time.
It is important to note that this data is from over two years prior to the current FDD year. Prospective franchisees should inquire about any changes in the share structure or equity since that date to fully understand the current ownership and financial situation of Gokhale Method.