What was the net value of intangible assets for Face Foundrie in 2024?
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 |
| T |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the net value of intangible assets as of December 31, 2024, was $41,404. This figure represents the remaining value of Face Foundrie's intangible assets, such as software costs and franchise development costs, after accounting for amortization.
For a prospective Face Foundrie franchisee, understanding the value and amortization of intangible assets is important for assessing the company's financial health. Intangible assets are amortized over their estimated useful lives, and the amortization expense is recorded each year.
The FDD also notes that amortization expense associated with intangible assets was $12,468 for the year ended December 31, 2024. Monitoring these figures can provide insights into how Face Foundrie manages and values its intangible assets, which can be a factor in the long-term sustainability of the franchise system.