What was the amount of the members' interests for Kidokinetics in 2021?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
23, 2022, and 2021
| A | dditional | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Paid-in Members' | Retained | Total | ||||||||
| Shares | A | Mount | Capital | Interests | Earnings | Equity | |||||
| Balance at January 1, 2021 | 100 | $ | 1 | $ | 4,999 | $ | - | $ | (12,903) | $ | (7,903) |
| Conversion to LLC | (100) | (1) | (4,999) | 5,000 | - | - | |||||
| Member contributions | - | - | - | 422,077 | 422,077 | ||||||
| Net loss | - | - | (411,7 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, the members' interests in 2021 totaled $427,077. This figure is part of the broader statement of members' equity (deficit), which outlines changes in the company's equity position over time. The statement details various factors influencing equity, including common stock, paid-in members' capital, retained interests, and earnings.
In 2021, Kidokinetics saw several significant transactions affecting its members' equity. Initially, the balance at the start of the year was a deficit of $7,903. The conversion from a corporation to a limited liability company resulted in adjustments to common stock and paid-in capital. A substantial influx of $422,077 came from member contributions, significantly boosting the equity. However, a net loss of $411,716 partially offset these gains, leading to a year-end balance of $2,458.
The statement of members' equity (deficit) provides a comprehensive view of how Kidokinetics' equity evolved during the period. It shows the impact of operational losses and member contributions on the company's financial standing. For a prospective franchisee, this information is crucial for understanding the financial stability and the factors influencing the equity of Kidokinetics.