What was the total amount of Craters & Freighters' current liabilities as of December 31, 2023?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
| $ 9,391,294 $ | 4,370,648 |
Balance Sheets (Continued)
| As of December 31, | 2023 | 2022 |
|---|---|---|
| Current Liabilities: | ||
| Accounts Payable | $ 1,061,526 $ | 1,241,420 |
| Accrued Liabilities | 1,790 | 458 |
| Accrued Bonus | - | 132,340 |
| Operating Lease Liability - Due Wit |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Craters & Freighters' 2025 Franchise Disclosure Document, the company's total current liabilities as of December 31, 2023, were $1,139,812. This figure is a sum of several short-term financial obligations. These include accounts payable, accrued wages and other liabilities, and operating lease liabilities due within one year.
Specifically, the accounts payable were $1,061,526, accrued wages and other liabilities amounted to $1,790, and the operating lease liability due within one year was $76,496. There was no recorded amount due to a related party as of this date.
A prospective franchisee should understand the composition of these liabilities, as they represent Craters & Freighters' short-term financial obligations. Monitoring these liabilities is crucial for assessing the company's financial health and its ability to meet its immediate obligations. Significant fluctuations in these figures from year to year could indicate changes in the company's operational efficiency or financial management practices.