What was the total amount of shares issued by Endless Summer Sweets as of April 30, 2023?
Endless_Summer_Sweets Franchise · 2024 FDDAnswer from 2024 FDD Document
| Shares | Earnings | |||
|---|---|---|---|---|
| Amount | Total | |||
| Share Issued | 2,000 | $ 2,000 | - | $ 2,000 |
| Net Income | - | - | $ (15,648) | $ (15,648) |
| Balance April 30,2023 | 2,000 | $ 2,000 | $ (15,648) | $ (13,648) |
Source: Item 23 — RECEIPTS (FDD pages 39–125)
What This Means (2024 FDD)
According to Endless Summer Sweets' 2024 Franchise Disclosure Document, the total amount of shares issued as of April 30, 2023, was 2,000. The value of these shares was $2,000. However, the company had a net income deficit of $15,648, resulting in a total balance of -$13,648.
For a prospective franchisee, this indicates the initial capitalization structure of Endless Summer Sweets. It shows the number of shares issued and their initial value. The net income deficit suggests that the company had more expenses than revenue up to that point.
It's important to note that this data reflects a specific point in time and may not be indicative of the company's current financial status. Franchisees should review the complete financial statements and consult with a financial advisor to fully understand the implications.