What was the total value of Cicis' prepaid expenses and other current assets in 2022?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
ong other matters, the planned scope and timing of the audit, significant audit findings and certain internal control-related matters that we identified during the audit.
Dallas, Texas April 19, 2024
Combined Balance Sheets December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,931,372 | $ 5,107,778 |
| Cash and cash equivalents—marketing fund, restricted | 771,794 | 432,296 |
| Accounts receivable, net: |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–64)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the total value of prepaid expenses and other current assets for Cicis in 2022 was $270,243. This figure is part of the company's overall current assets, which totaled $8,386,381 in 2022. These assets are detailed in the combined balance sheets included in the FDD.
Prepaid expenses and other current assets typically include items such as insurance premiums paid in advance, rent, and other short-term assets that will be used within one year. For a prospective franchisee, understanding the composition and value of these assets can provide insights into the company's financial health and how efficiently it manages its resources. It's also important to note how these values change over time, as significant fluctuations could indicate changes in business operations or financial strategies.
Franchisees should consider these figures in conjunction with other financial data provided in the FDD, such as liabilities and members' capital, to gain a comprehensive understanding of Cicis's financial position. Reviewing these figures over multiple years, as presented in the FDD, can also reveal trends and potential areas of concern or strength. Consulting with a financial advisor is recommended to fully interpret the financial statements and understand the implications for their investment.