What was the change in accounts payable and accrued liabilities for Exit in 2024?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
roperty and equipment | 2,125,033 | - | 20,291 | | Impairment of digital assets | - | - | (1,820,185) | | Legal settlement | (1,500,000) | - | - | | Interest | 137,304 | 78,187 | 170,816 | | Total other income (expense) | 762,337 | 78,187 | (1,629,078) | | Loss before provision for income taxes and non-controlling | | | | | interests | (389,110) | (1,814,746) | (2,480,526) | | Benefit for income taxes | (459,827) | (486,997) | (342,266) | | Consolidated net income (loss) | 70,717 | (1,327,749) | (2,138,260) | | Noncontrolling interest in subsidiary's loss | 616 | 463 | 691 | | Net income (loss) before foreign currency translation gain (loss) | 71,333 | (1,327,286) | (2,137,569) | | Foreign currency translation gain (loss), net of tax | (162,790) | 7,338 | (40,611) | | Net comprehensive loss | $ (91,457) | $ (1,319,948) | $ (2,178,180) |
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| Year Ending December | 31 | Amount | |---|---|---| | 2025 | | $ 290,017 | See accompanying notes to the consolidated financial statements
EXIT REALTY CORP. INTERNATIONAL CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the accounts payable and accrued liabilities decreased by $974,870 in 2024. This figure is part of the cash flow statement, specifically within the cash flows from operating activities section. It reflects the net change in the company's short-term obligations to suppliers and other creditors.
A decrease in accounts payable and accrued liabilities typically suggests that Exit paid off more of its outstanding short-term debts than it incurred during the year. This could be a result of improved cash management, a reduction in purchasing on credit, or a combination of both. For a prospective franchisee, this indicates Exit is actively managing and reducing its liabilities.
It's important to note that while a decrease in liabilities can be seen as positive, it should be analyzed in conjunction with other financial metrics. For example, a significant decrease in accounts payable could also indicate a decrease in business activity or a change in payment terms with suppliers. A potential franchisee should investigate the reasons behind this change to fully understand its implications for Exit's financial health and operational strategies.