What was the total amount of Craters & Freighters' long-term liabilities as of December 31, 2022?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
| As of December 31, | 2023 | 2022 |
|---|---|---|
| Long Term Liabilities: | ||
| Due to Shareholder | 2,769,688 | - |
| Operating Lease Liability - Due After One Year | 67,655 | 141,875 |
| Total Long-Term Liabilities | 2,837,343 | 141,875 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Craters & Freighters' 2025 Franchise Disclosure Document, the total long-term liabilities as of December 31, 2022, were $141,875. This figure is derived from the company's balance sheet, which categorizes liabilities into current and long-term. Long-term liabilities are obligations not expected to be settled within one year.
Specifically, the long-term liabilities consisted of operating lease liabilities due after one year. This indicates Craters & Freighters had lease obligations extending beyond the upcoming year.
Understanding the nature and extent of these liabilities is crucial for prospective franchisees. It provides insight into the financial obligations Craters & Freighters has and how they manage their long-term financial commitments. Reviewing these figures in the context of Craters & Freighters' overall financial health can help potential franchisees assess the stability and risk associated with investing in the franchise.