What was the total amount of other funding liabilities for All Team as of December 31, 2023?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| CURRENT LIABILITIES | ||
| Accounts payable - trade | $ 2,646 | $ 3,528 |
| Due to stockholder | 14,772 | 39,378 |
| Current maturity of operating lease liability | 58,709 | 53,626 |
| Credit line payable | 859,983 | 1,321,084 |
| Accrued expenses | 124,879 | 231,956 |
| Other funding liabilities | 1,133,303 | 919,887 |
| Total Current Liabilities | 2,194,292 | 2,569,459 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the total amount of other funding liabilities as of December 31, 2023, was $919,887. This figure is listed under current liabilities in the balance sheets. It is important to note that this liability is a component of the total current liabilities, which amounted to $2,569,459 for the same period.
This "other funding liabilities" line item represents financial obligations of All Team that are not categorized under typical accounts payable, debts to stockholders, lease liabilities, credit lines, or accrued expenses. The nature of these liabilities is not specified in this excerpt, so a prospective franchisee would need to investigate further to understand what these obligations consist of. Understanding the composition of these liabilities is crucial for assessing the financial health and stability of All Team.
For a prospective franchisee, this means understanding the nature of these 'other funding liabilities' is essential. It would be prudent to ask All Team for a detailed breakdown of what constitutes this $919,887. This information will provide a clearer picture of the company's financial obligations and potential risks. Furthermore, comparing this figure to previous years (e.g., 2022, when it was $1,246,428) can reveal trends and potential areas of concern or improvement.