What amount of cash did Deck Medic have in its operating bank account as of December 31, 2023?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
ction accounts which are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. On December 31, 2023 and 2022, the Company's cash balance didn't exceed the FDIC insurance limits.
The Company considers all cash in the bank and investments in highly liquid debt instruments with maturities of three months or less to be cash equivalents. As of December 31, 2023 and 2022 the Company had approximately $125,880 and $110,883 in cash in its operating bank account respectively.
4.
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the company had approximately $125,880 in cash in its operating bank account as of December 31, 2023. This indicates the amount of liquid assets Deck Medic had available at the end of the year.
This cash balance is relevant to potential franchisees as it provides insight into the financial health and stability of Deck Medic. A healthy cash balance suggests that Deck Medic is capable of meeting its short-term obligations and investing in growth opportunities.
Deck Medic maintains its cash balance in U.S. noninterest-bearing transaction accounts, which are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. The disclosure states that the company's cash balance did not exceed the FDIC insurance limits on December 31, 2023, which means all of Deck Medic's cash was fully insured.