What was the total amount due to affiliates by Crab N Spice as of December 31, 2023?

According to Crab N Spice's 2024 Franchise Disclosure Document, the Due to Affiliate account represents four short term loans due to various related affiliates. These loans are unsecured and have no stated interest rates. The sole shareholder of Crab N Spice possesses ownership interests of the outstanding common stock of these related affiliates. The FDD does not specify the total amount due to affiliates as of December 31, 2023.

As the financial statement does not include the specific amount due to affiliates, it is important for a prospective franchisee to request this information from Crab N Spice. Understanding the magnitude of these related-party loans can provide insight into the company's financial obligations and its relationships with affiliated entities.

Specifically, a potential franchisee should ask Crab N Spice for the balance sheet as of December 31, 2023, which should list the specific amount due to affiliates. This will allow the franchisee to assess the financial health and stability of Crab N Spice before making a decision.