In what year were the advances made by dermani Buckhead to Dermani Medspa repaid?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
69,125 | | | Less: | (17,819) | | | accumulated | | | | depreciation | | | | Total | $ 51,306 | | Depreciation expense for the year ended December 31, 2023 was $7,621.
4. ACCRUED LIABILITIES
Accrued liabilities consist of the following as of December 31, 2023:
| | 2023 | |-------------------
Source: Item 23 — RECEIPTS (FDD pages 66–311)
What This Means (2025 FDD)
According to Dermani Medspa's 2025 Franchise Disclosure Document, advances made by dermani Buckhead were repaid in 2023. In 2021, dermani Buckhead, a related entity wholly owned by the sole member of Dermani Medspa, made advances of $20,000 to the company. These funds were intended to meet current obligations.
The advance from dermani Buckhead was non-interest bearing.
This indicates that Dermani Medspa received financial support from related entities to manage its obligations and that these advances were structured as non-interest bearing liabilities, which were later repaid.