What were the total current assets for Face Foundrie in 2023?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the company's total current assets in 2023 were $2,892,793. Current assets include cash and other assets that are expected to be converted to cash or used up within one year. These figures provide a snapshot of Face Foundrie's financial health and liquidity at that time.
Specifically, the current assets are composed of several components. These include cash and cash equivalents, which totaled $1,969,123 in 2023. Other notable current assets were accounts receivable, net at $96,311, prepaid expenses at $17,976, and a related party note receivable of $750,000. Additionally, there were deferred contract costs of $30,000 and other current assets amounting to $29,383.
Prospective franchisees should consider these figures in the context of Face Foundrie's overall financial performance and trends. Analyzing the composition of current assets can offer insights into the company's ability to meet its short-term obligations and manage its working capital effectively. It's also advisable to compare these figures with those of previous years to identify any significant changes or patterns.