What was the balance on the note receivable that Anago entered into with a master franchise as of December 31, 2022?
Anago Franchise · 2025 FDDAnswer from 2025 FDD Document
disbursements for interest during the years ended December 31, 2024, 2023, and 2022 totaled $26,064, $31,829, and $42,207, respectively. Cash disbursements for income taxes during the years ended December 31, 2024, 2023, and 2022 totaled $494,312, $215,857, and $180,024, respectively.
NOTE B – OPERATING INCOME ANALYSIS
A summary of the operating income is as follows:
| INC. | AND | SUBSIDIARIES | |
|---|---|---|---|
| NOTES TO CONSOLIDATED | FINANCIAL | STATEMENTS | |
| DECEMBER | 31, 2024, 2023, | and | 2022 |
NOTE C – NOTES RECEIVABLE
The Company has a note receivable with a related entity by common ownership totaling $529,500 bearing an interest rate of 2.94%. The principal balance and accrued interest payment is due in May 2038. Therefore, the note rec
Source: Item 23 — RECEIPTS (FDD pages 62–298)
What This Means (2025 FDD)
According to Anago's 2025 Franchise Disclosure Document, Anago had a note receivable with a master franchise. As of December 31, 2022, the balance on this particular note receivable was $36,552. The note carried an interest rate of 2.00% and required monthly payments of principal and interest totaling $2,194 through March 2023. The note was not secured.
Additionally, Anago had another note receivable with a master franchise with a balance of $2,500 as of December 31, 2022. This note was also unsecured and was due on demand. It was paid off during 2023.
Furthermore, notes receivable also consisted of franchise notes receivable for the initial purchases of the master franchisee territories totaling $60,925 as of December 31, 2022. These figures represent the amounts owed to Anago by its master franchisees under these specific note receivable agreements at the close of 2022.