What was the amount of notes receivable, less current portion, for Apricot Lane in 2024?

According to Apricot Lane's 2025 Franchise Disclosure Document, the notes receivable, less current portion, was $985,265 in 2024. This figure represents the long-term portion of notes receivable that Apricot Lane expects to collect beyond the upcoming year.

For a prospective franchisee, understanding the notes receivable is crucial as it reflects the financial health and stability of Apricot Lane. A high value in notes receivable, less the current portion, suggests that Apricot Lane has lent a significant amount of money with the expectation of long-term repayment. However, it's important to note that these notes are classified as long-term due to the unlikelihood of immediate collection, which could impact the company's short-term liquidity.

It is also important to note that the notes receivable are related to defaulted notes. While Apricot Lane management believes there is sufficient collateral available and that the notes are fully collectible, there is a reserve for doubtful accounts established against these notes to account for the time-value of money covering an expected delayed payment sequence. A prospective franchisee should inquire about the details of these notes, the collateral held, and the potential risks associated with their collection.