What was the amount of current liabilities for 1-800-GOT-JUNK? as of May 31, 2025?
1_800_Got_Junk Franchise · 2025 FDDAnswer from 2025 FDD Document
May 31, 2025 and December 31, 2024
May 31 December 31
Notes
Assets
Current assets: Cash $ 11,635,584 $ 8,886,128 Short-term investment 103,622 102,578 Accounts receivable (net of allowance for credit losses: May 31, 2025 - $106,092 (2024 - $106,029)) 11,313,651 13,221,199 Prepaid expenses
82,279 319,453 Due from related parties 4,814,013 3,473,487 Income taxes recoverable
324,518 57,337
28,273,667 26,060,182
Vehicles 102,172 111,460 Intangible asset 89,680 40,745 Deferred income tax assets 2,153,795 2,213,502
$ 30,619,314 $ 28,425,889
Liabilities and Member’s Equity
Current liabilities: Accounts payable and accrued liabilities $ 3,802,470 $
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to 1-800-GOT-JUNK?'s 2025 Franchise Disclosure Document, as of May 31, 2025, the company's current liabilities totaled $3,802,470. This figure is an important indicator of 1-800-GOT-JUNK?'s short-term financial obligations. Current liabilities include debts and obligations that are due within one year. These liabilities are listed on the unaudited consolidated balance sheets.
For a prospective 1-800-GOT-JUNK? franchisee, understanding the franchisor's current liabilities is crucial. It provides insight into the company's financial stability and its ability to meet its short-term obligations. High current liabilities relative to current assets could indicate potential financial strain, which might affect the franchisor's ability to support its franchisees. Conversely, manageable current liabilities suggest a stable financial foundation.
It is important to note that these financial statements are unaudited. The 1-800-GOT-JUNK? FDD includes a disclaimer that no certified public accountant has audited these figures or expressed an opinion on their content or form. Therefore, while the information provides a snapshot of the company's financial position, prospective franchisees should consider this limitation and possibly seek independent financial advice to fully assess the financial health of 1-800-GOT-JUNK?.