What were the non-current liabilities for Cicis in 2023?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |||
|---|---|---|---|---|
| Website | $ 220,000 | $ 220,000 | ||
| Accumulated amortization | (69,667) | (25,667) | ||
| Website, net 2024 | $ 150,333 2023 | $ 194,333 | ||
| Revenue recognized at a point in time | $ 42,474,332 | $ 41,301,256 | ||
| Revenue recognized over time | 72,368 2024 | 57,395 2023 | ||
| Cash and cash equivalents—marketing fund, restricted | $ 434,199 | $ 771,794 | ||
| Accounts receivable—marketing fund, restricted | 2,395,119 | 2,537,488 | ||
| Prepaid expenses and other current assets | 713,800 | 833 | ||
| Non current liabilities | (150,333) | (194,333) |
Source: Item 23 — RECEIPTS (FDD pages 65–263)
What This Means (2025 FDD)
According to Cicis' 2025 Franchise Disclosure Document, the non-current liabilities for 2023 were reported as a negative $194,333. This figure appears to be related to the website, net of accumulated amortization.
It is important to note that this amount is presented as a negative value, which may indicate a reduction in liabilities or a contra-liability account. A prospective franchisee should seek clarification from Cicis regarding the nature of this non-current liability and its implications for the company's overall financial health. Understanding the composition and changes in non-current liabilities can provide insights into the long-term financial obligations and stability of Cicis.
Non-current liabilities typically include obligations not due within one year, such as long-term debt, deferred revenue, and other extended payment arrangements. Given the specific mention of "website, net" in conjunction with this liability, it may relate to the amortization of website development costs over time. Franchisees should inquire about the details of these liabilities to assess any potential impact on Cicis' financial performance and stability.