How much did Best Brains owe on the Credit Card at BOA4100 as of December 31, 2023?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
| 6 ( | Other Current Liabilities | As at December 31, 2023 | As at December 31, 2022 |
|---|---|---|---|
| ( | Credit Card Liabilities | ||
| Credit Card at BOA4100 | 1,277.11 | 8,660.91 | |
| Credit Card at Chase | 36,525.47 | 48,735.96 | |
| Chase United | 29,956.61 | 434.79 | |
| Credit BCBS | 3,726.42 | 1,405.36 | |
| Citibank AAdvantage | 10,970.12 | 3,252.89 | |
| Total credit card Liabilities | 82,455.73 | 62,489.91 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the company had a credit card liability of $1,277.11 at BOA4100 as of December 31, 2023. This is a decrease from the $8,660.91 owed on the same credit card as of December 31, 2022.
In addition to the BOA4100 credit card, Best Brains had other credit card liabilities. These included $36,525.47 on a credit card at Chase, $29,956.61 on Chase United, $3,726.42 on Credit BCBS, and $10,970.12 on Citibank AAdvantage. The total credit card liabilities for Best Brains as of December 31, 2023, amounted to $82,455.73.
Prospective franchisees should note that these credit card liabilities are part of the overall liabilities of Best Brains, Inc. Understanding the company's financial obligations can provide insight into its financial health and stability. Reviewing the complete financial statements, including assets, liabilities, and equity, is essential for making an informed investment decision.