What were the total current liabilities for Craters & Freighters as of December 31, 2024?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
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| As of December 31, | 2024 | 2023 |
|---|---|---|
| 18 of December 31, | 2021 | 2023 |
| Current Liabilities: | ||
| Accounts Payable | $ 1,181,960 $ | 1,061,526 |
| Accrued Wages and Other Liabilities | 32,282 | 1,790 |
| Due to Related Party | 65,000 | - |
| Operating Lease Liability - Due Within One Year | 65,249 | 76,496 |
| Total Current Liabilities | 1,344,4 |
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, 2024, were $1,344,491. This figure represents the sum of several short-term financial obligations, including accounts payable, accrued wages and other liabilities, amounts due to a related party, and the operating lease liability due within one year.
Breaking down the current liabilities, accounts payable constituted the largest portion at $1,181,960. Accrued wages and other liabilities amounted to $32,282, while the amount due to a related party was $65,000. The operating lease liability due within one year was $65,249. These individual components, when combined, provide a comprehensive view of Craters & Freighters' short-term financial obligations at the close of 2024.
A prospective franchisee should consider the current liabilities of Craters & Freighters as an indicator of the company's short-term financial health and stability. Understanding the nature and magnitude of these liabilities can help a franchisee assess the company's ability to meet its immediate obligations and manage its working capital effectively. Comparing these figures to previous years and industry benchmarks can provide further insights into the company's financial performance and risk profile.