What was the total value of Face Foundrie's total assets in 2023?
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 in 2023 amounted to $3,318,535. This figure represents the sum of Face Foundrie's current and non-current assets for that year. Current assets include cash and cash equivalents, accounts receivable, prepaid expenses, related party note receivable, deferred contract costs, and other current assets. Non-current assets consist of operating lease right-of-use assets, equipment, and intangible assets.
Understanding the composition of these assets is crucial for prospective franchisees. For instance, a significant portion of current assets is held in cash and cash equivalents, indicating the company's liquidity. Non-current assets, such as the operating lease right-of-use asset, reflect long-term investments and commitments. Deferred contract costs relate to franchise agreements and are recognized over time as pre-opening services are fulfilled.
Reviewing the balance sheet provides insight into Face Foundrie's financial health and stability. Franchisees should analyze these figures in conjunction with the company's liabilities and member's deficit to gain a comprehensive understanding of its financial position. Consulting with a financial advisor to interpret these statements is advisable for making informed investment decisions.