As of December 31, 2024, what were the total assets for Face Foundrie?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
Restrictions on Use
The use of this report is restricted to inclusion within the Company's Franchise Disclosure Document (FDD) and is not intended to be, and should not be, used or relied upon by anyone for any other use.
St. George, Utah April 16, 2025
BALANCE SHEETS
As of December 31, 2024, 2023 and 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Assets | |||
| Current assets | |||
| Cash and cash equivalents | $ 3,480,620 | $ 1,969,123 | $ 1,611,868 |
| Accounts receivable, net | 424,770 | 96,311 | 101,020 |
| Prepaid expenses | 8,530 | 17,976 | - |
| Related party note receivable | 750,000 | 750,000 | 130,986 |
| Deferred contract costs | - | 30,000 | 34,000 |
| Other current assets | - | 29,383 | 73,451 |
| Total current assets | 4,663,920 | 2,892,793 | 1,951,325 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the company's total assets as of December 31, 2024, were $5,044,685. This figure represents the sum of current assets, such as cash and accounts receivable, and non-current assets, including operating lease right-of-use assets, equipment, and intangible assets. Understanding the composition of these assets can provide potential franchisees with insights into the financial health and resource allocation of Face Foundrie.
Specifically, the current assets totaled $4,663,920, comprising cash and cash equivalents of $3,480,620, accounts receivable of $424,770, prepaid expenses of $8,530, and a related party note receivable of $750,000. There were no deferred contract costs or other current assets listed for 2024. The non-current assets amounted to $380,765, including an operating lease right-of-use asset valued at $331,322, equipment net of depreciation at $8,039, and intangible assets net of amortization totaling $41,404.
Reviewing these figures in the context of Face Foundrie's liabilities and member's deficit offers a more comprehensive view of the company's financial standing. While assets indicate what the company owns, liabilities reflect its obligations to others, and the member's deficit represents the accumulated losses. A prospective franchisee should analyze these figures alongside revenue and expense data to assess the overall profitability and stability of Face Foundrie.