What was the total balance for Carbones Pizzeria as of October 31, 2022?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company maintains cash balances primarily in one financial institution located in Minnesota. At times, the cash in bank balances may be in excess of the federally insured limits.
The Company considers money market funds and other highly liquid investments with original maturities of three months or less to be cash equivalents.
Source: Item 22 — CONTRACTS (FDD page 30)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document for Carbones Pizzeria does not explicitly state the total balance as of October 31, 2022. However, the document does provide some financial context. It mentions that the company maintains cash balances primarily in one financial institution located in Minnesota, and at times, these balances may exceed federally insured limits. The company does not anticipate any losses related to this balance.
Additionally, the FDD includes consolidated financial statements that incorporate M & T Pizza Incorporated and its wholly-owned subsidiaries, including Carbone & Sons, Inc. and Carbone Pizza, Inc. These statements are prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP). Management makes estimates and assumptions that affect the reported amounts of assets and liabilities. The company's fiscal year ends on October 31.
To obtain the specific total balance for Carbones Pizzeria as of October 31, 2022, a prospective franchisee should directly request this information from the franchisor. Understanding the company's financial position is crucial for making an informed investment decision.