What is the total reported amount for accounts payable for Best Brains?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
ived an SBA Loan of $150,000 on May 18, 2020 as a part of Corona virus relief package. Interest will accrue at the rate of 3.75% per annum on the funds advanced. Interest of $8,041 is paid, while no principal repayments have been made in 2023 for the same.
NOTE 13 - PRIOR YEAR'S COMPARATIVES
Previous year's figures have been regrouped, rearranged or re-casted wherever necessary to conform to this year's classification.
Best Brains, Inc. Annexure Forming Part of Notes to Financial Statements
Related Party Disclosures
Transactions with related parties during the year ended December 31st, 2023
( Amount in USD) PURCHASE O
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total reported amount payable to related parties as of December 31, 2023, is $3,424,020.00. This figure represents the aggregate amount Best Brains owes to various related entities, such as Advansoft India, Best Brains India, and Adventures India Pvt. Ltd. among others.
This information is crucial for prospective franchisees as it provides insight into the financial obligations and relationships Best Brains has with other entities. Understanding the scale and nature of these payables can help franchisees assess the financial stability and operational dependencies of the franchisor. It is important to note that these payables are specifically related to transactions with related parties, which may involve different terms and conditions compared to standard vendor relationships.
Prospective franchisees should consider this figure in conjunction with other financial metrics provided in the FDD to gain a comprehensive understanding of Best Brains' financial health. Further investigation into the nature of these related-party transactions and their potential impact on the franchise system may be warranted during the due diligence process. Consulting with a financial advisor is recommended to fully assess the implications of these payables.