What was the total gross amount of notes receivable for Cool Binz in 2022?
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.
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March 19, 2025
Consolidated Balance Sheets (dollars in thousands)
| December 31, | 2024 | 2023 | 2022 (as restated) |
|---|---|---|---|
| Assets | |||
| Current Assets Cash Restricted cash Accounts receivable, net Inventory (Note 6) Notes receivable, current portion net of allowance (Note 7) Prepaid expenses and other current assets | $ 1,242 1,310 2,728 8,673 578 454 | $ 3,701 781 2,338 5,683 639 625 | \ |
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the total gross amount of notes receivable, current portion net of allowance, was $1,661 as of December 31, 2022.
This figure represents the money owed to Cool Binz through formal promissory notes, which are essentially loans that Cool Binz has extended to others. The "current portion" indicates the amount of these notes receivable that are expected to be collected within one year, while "net of allowance" means that an estimated amount for potential uncollectible notes has already been subtracted.
In addition to the current portion of notes receivable, Cool Binz also had non-current notes receivable of $2,747 in 2022. These are notes not expected to be collected within the next year. Therefore, the total notes receivable for Cool Binz in 2022, both current and non-current, was $4,408 ($1,661 + $2,747).