What was the total value of Lees Famous Recipe's preferred stock as of December 31, 2024?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
13,577) | | Total other expenses, net | (2,510,908) | (1,438,148) | (169,330) | | Income (Loss) Before Income Taxes | 381,018 | (521,314) | (537,863) | | Income Tax Benefit (Expense) | (136,022) | 87,484 | 132,000 | | Net Income (Loss) | $ 244,996 | $ (433,830) | $ (405,863) |
ARTEMIS RESTAURANT CORP. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY FOR THE YEARS AND PERIOD ENDED DECEMBER 31, 2023, 2022 AND 2021
| Additional | |||||
|---|---|---|---|---|---|
| Preferred Stock | Paid-in | Accumulated | |||
| Shares | Amount | Capital | Deficit | Total | |
| Balance, beginning of period | - | $ - | $ - | $ - | $ - |
| Perferred stock issued | 19,887,331 | 1,989 | 11,998,011 | - | 12,000,000 |
| Net |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to Lees Famous Recipe's 2025 Franchise Disclosure Document, the provided excerpts do not contain the specific value of preferred stock as of December 31, 2024. However, the document does include a consolidated balance sheet detailing preferred stock information up to December 31, 2023.
Specifically, the balance sheet information details preferred stock shares, amount, additional paid-in capital, accumulated deficit, and total value as of December 31, 2023. For example, as of December 31, 2023, the total value of preferred stock was $11,405,303.
To obtain the preferred stock value as of December 31, 2024, a prospective Lees Famous Recipe franchisee should directly request this information from the franchisor. Understanding the changes in equity structure is crucial for assessing the financial health and stability of the franchise system.