What was the amount of the note payable to related party for Amorino as of December 31, 2022?
Amorino Franchise · 2025 FDDAnswer from 2025 FDD Document
ernance 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.
Atlanta, Georgia
BALANCE SHEETS
CPUSA LLC
(A Wholly-Owned Subsidiary of Amorino USA Corp.)
| 2024 | December 31, 2023 | 2022 | ||
|---|---|---|---|---|
| ASSETS | ||||
| CURRENT ASSETS Cash and cash equivalents Accounts receivable Accounts receivable from related partyNote B Prepaid expenses TOTAL CURRENT ASSETS TOTAL ASSETS | $ 136,842 7,397 7,140 -0- 151,379 $ 151,379 | $ $ | 41,417 208 7,140 2,167 50,932 50,932 | 84,565$ -0- 35,375 -0- 119,940 $ 119,940 |
| LIABILITIES AND MEMBER'S DEFICIT | ||||
| CURRENT LIABILITIES Accounts payable Accounts payable to related partyNote B Accrued expenses Deferred revenue TOTAL CURRENT LIABILITIES | $ 4,280 75,887 10,211 34,466 124,844 | $ | 2,690 72,905 -0 |
Source: Item 22 — CONTRACTS (FDD pages 80–81)
What This Means (2025 FDD)
According to Amorino's 2025 Franchise Disclosure Document, the note payable to a related party as of December 31, 2022, was $81,122. This liability reflects an amount owed by Amorino to an affiliated entity.
For a prospective franchisee, understanding related-party transactions is crucial. These transactions can impact the financial health and stability of the franchise. The fact that Amorino had a note payable to a related party suggests that it relied on financial support from its affiliate.
It's important to note that the loan from the Parent with an outstanding balance of $82,730 including accrued interest was paid off by an affiliate on behalf of the Company during the year ended December 31, 2023. A franchisee should investigate the nature of these related-party transactions, the terms of the notes, and the potential impact on Amorino's financial performance. Understanding these relationships can provide insight into the financial risks and dependencies associated with investing in an Amorino franchise.