What was the reported cash amount for 1 800 Packouts at the end of 2023?
1_800_Packouts Franchise · 2025 FDDAnswer from 2025 FDD Document
opinion on the effectiveness of the Company'sinternal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
April 23, 2025
| (1) | 2024 | 2023 | |
|---|---|---|---|
| Assets | |||
| Current assets: | |||
| Cash | $ | 3,690,691 | $ 1,455,349 |
| Restricted cash | - | 840,143 | |
| Accounts receivable, net of an allowance for credit losses | |||
| of $74,296 and $105,953, respectively | 6,102,611 | 3,565,178 | |
| Other | 820,000 | - | |
| current | |||
| receivable | |||
| Current | 1,797,429 | 1,382,859 | |
| portion | |||
| of | |||
| contract | |||
| assets | |||
| Prepaid and other current assets | 1,803,912 | 1,537,556 | |
| Total current assets | 14,214,643 | 8,781,085 | |
| Goodwill, net | 52,556,496 | 66,184,756 | |
| Intangible assets, net | 45,678,810 | 50,358,496 | |
| Contract assets, net of current portion | 13,317,603 | 10,981,453 | |
| Operating lease right-of-use assets | 1,603,081 | 1,272,436 | |
| Other assets | 2,206,748 | 828,551 | |
| Total assets | $ | 129,577,381 | $ 138,406,777 |
| Liabilities and Members' Equity | |||
| Current liabilities: |
Source: Item 23 — RECEIPT (FDD pages 67–238)
What This Means (2025 FDD)
According to 1 800 Packouts' 2025 Franchise Disclosure Document, the reported cash amount at the end of 2023 was $1,455,349. This figure represents the actual cash on hand that 1 800 Packouts had available at the close of the 2023 fiscal year.
In addition to cash, 1 800 Packouts also reported restricted cash of $840,143 at the end of 2023. Restricted cash is cash that is set aside for a specific purpose and is not available for general use. The combination of cash and restricted cash totaled $2,295,492 at the end of 2023.
It's important to note that these figures reflect the financial position of 1 800 Packouts as a whole and not necessarily the financial performance of individual franchise locations. Prospective franchisees should consider these figures in the context of the overall financial health of the company, but should also conduct their own due diligence to understand the potential financial performance of a franchise location.