The Joint Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Related ???Party??? Transaction

Related Party Transaction

12 Months Ended

Dec. 31, 2021

Between January 2019 and April 2019, the Company sold three franchise licenses to three entities owned by Cowboy Chiro LLC (collectively, the “Entities”) at $29,900 each (which reflects the $10,000 multi-unit discount per the Franchise Disclosure Document, as one or more equity owner of the Entities has purchased a license previously). Glenn Krevlin, the Company’s director, was a minority owner of the Entities, owning a 29.75% interest. In December 2021, Mr. Krevlin sold all of his interests in the Entities. The transaction involved terms no less favorable to the Company than those that would have been obtained in the absence of such affiliation.

Activity with the Entities is summarized below:


	For the Year Ended December 31,
	2021		2020
Royalty fees	$	100,243	$	52,364
Franchise fees	8,970		8,995
Advertising fund revenue	28,641		14,961
Software fees	21,564		21,564
Total revenue from related parties	$	159,418	$	97,884