What was the net value of 360 Painting's intangible assets in 2022?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2023 | 2022 | |||
|---|---|---|---|---|
| Notes receivable | $ | 14,547 | $ | 24,990 |
| Prepaid expenses | 1,324,609 | 1,514,830 | ||
| Prepaid commissions | 985,918 | 751,616 | ||
| Other current assets | 161,344 | 160,533 | ||
| Total prepaid expenses and other current assets | $ | 2,486,419 | $ | 2,451,969 |
**5. Property and Equipmen
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 FDD, the financial statements of Premium Service Brands, LLC, an affiliate of 360 Painting, include details on intangible assets. The FDD states that it provides consolidated financial statements for the years ending December 31, 2024, December 31, 2023, and December 31, 2022.
The intangible assets for 2022 are specified within these statements. The depreciation and amortization expense related to property and equipment recognized in the consolidated statement of operations was $152,162 for the year ended December 2022.
It is important for a prospective franchisee to review these figures carefully to understand the valuation of intangible assets and how they are being amortized, as this can impact the overall financial health and performance of 360 Painting and its parent company, Premium Service Brands, LLC.