As of December 31, 2022, what was the current portion of amounts due to Cool Binz?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
r events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among 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.
March 19, 2025
Consolidated Balance Sheets (dollars in thousands)
| December 31, | 2024 | 2023 | 2022 (as restated) | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the current portion of notes receivable, net of allowance, was $1,661 as of December 31, 2022. This figure is part of the company's overall assets for that year.
For a prospective franchisee, this indicates the amount of money due to Cool Binz within the next year. This could include payments from franchisees or other debtors. The 'net of allowance' means that Cool Binz has already accounted for potential uncollectible amounts, providing a more realistic view of expected receivables.
Understanding the receivables is important for assessing the financial health of Cool Binz. Franchisees should consider this figure in the context of Cool Binz's overall financial statements to evaluate the company's stability and its ability to support its franchisees. Reviewing trends in receivables over time can also offer insights into the company's financial management and risk.