What was the total value of Exit's other assets in 2023?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
| ASSETS | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||||
| Other assets | ||||||
| Advances to related parties | 2,256,933 | 2,287,705 | 2,199,967 | |||
| Notes receivable (net) | 7,601,842 | 8,704,995 | 11,839,353 | |||
| Property and equipment (net) | 205,458 | 271,020 | 328,683 | |||
| Digital assets (net) | - | 943,094 | 943,094 | |||
| Regional rights | 11,049,112 | 11,049,112 | 8,679,201 | |||
| Deferred income tax asset - United States taxes | 767,000 | 428,000 | 485,000 | |||
| Total other assets | 21,880,345 | 23,683,926 | 24,475,298 |
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the company's total other assets were valued at $23,683,926 in 2023. These assets are distinct from current assets like cash, short-term investments, and receivables.
Other assets consist of several categories. These include advances to related parties which totaled $2,287,705, notes receivable (net) which totaled $8,704,995, property and equipment (net) valued at $271,020, regional rights valued at $11,049,112, and a deferred income tax asset for United States taxes which was $428,000.
A prospective Exit franchisee should recognize that 'other assets' are not as readily convertible to cash as 'current assets.' These assets represent longer-term investments, loans to related parties, and the value of property, equipment, and rights that Exit owns. The value of these assets can fluctuate and may not always be easily liquidated.
Understanding the composition and valuation of these 'other assets' is important for assessing Exit's overall financial health and stability. A potential franchisee may want to inquire about the collectability of notes receivable, the terms of advances to related parties, and the valuation methods used for regional rights to gain a clearer picture of the company's financial position.