What was the cash balance at the beginning of the year for Burros Fries?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
ITEM 21 FINANCIAL STATEMENTS
Our certified, independent, audited financial statements for the period from January 1, 2021 to December 31, 2021, audited financial statements for the period from January 1, 2022 to December 31, 2022, and audited financial statements for the period from January 1, 2023 to December 31, 2023, and unaudited financials for the period of January 1, 2024 to October 31, 2024 are attached to this Disclosure Document as Exhibit G. Our fiscal year end is December 31. We have not been in business for three complete years or more and therefore cannot include all the financial statements required by the Rule for our last three fiscal years.
EXHIBIT G
Financial Statements
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2024 FDD)
Based on the 2024 Burros Fries Franchise Disclosure Document, the balance sheets included in Item 21 provide details on the company's cash position at the end of each fiscal year. To determine the cash balance at the beginning of a specific year, a prospective franchisee would need to refer to the balance sheet from the end of the previous year.
Specifically, the FDD includes balance sheets for December 31, 2021, December 31, 2022, and December 31, 2023. The cash balance at the beginning of 2022 would be the same as the cash balance at the end of 2021. Similarly, the beginning cash balance for 2023 is reflected in the December 31, 2022 balance sheet, and the beginning cash balance for 2024 is on the December 31, 2023 balance sheet.
While the financial statements are included, the specific cash balances for these years are not extracted in a text-searchable format. To find the exact figures, a potential Burros Fries franchisee should carefully review the provided balance sheets within Exhibit G of the FDD. Understanding the franchisor's cash flow and overall financial health is crucial for making an informed investment decision.