What was the value of Cool Binz's prepaid expenses and other current assets as of December 31, 2024?
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 value of prepaid expenses and other current assets as of December 31, 2024, was $454. This figure is part of the company's balance sheet, reflecting the financial position of Cool Binz at that specific point in time. Current assets are those that can be converted into cash within one year, and prepaid expenses represent payments made for goods or services to be received in the future.
For a prospective Cool Binz franchisee, understanding the composition of current assets is crucial for assessing the company's short-term financial health. Prepaid expenses, in particular, can indicate how Cool Binz manages its operational costs and investments. A higher value in prepaid expenses might suggest that Cool Binz is investing in future growth or has secured favorable terms with suppliers.
It's also worth noting the trend in these assets over time. In 2023, the value was $625, and in 2022 (as restated), it was $346. This year-over-year comparison can provide insights into the company's financial management and strategic decisions. A potential franchisee should analyze these figures in conjunction with other financial data to gain a comprehensive understanding of Cool Binz's financial stability and growth potential.