What was the ending cash balance for Fat Shack in 2023?
Fat_Shack Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company from time-to-time advances funds to related entities. As of December 31, 2024, 2023 and 2022, the balance due from these related parties were $412,871, $673,871 and $603,870, respectively.
INDEPENDENT AUDITOR'S REPORT
To the Stockholders of Fat Shack Inc. and Subsidiary
Opinion
We have audited the financial statements of Fat Shack Inc. and Subsidiary, which comprises the balance sheet as of December 31, 2024, 2023 and 2022 and the related statement of operations, and changes in stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Fat Shack Inc. and Subsidiary as of December 31, 2024, 2023 and 2022 and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 23 — Receipts (FDD pages 53–223)
What This Means (2025 FDD)
The 2025 Fat Shack FDD does not explicitly state the ending cash balance for 2023. However, it does mention balances due from related parties. As of December 31, 2023, the balance due from these related parties was $673,871.
While this figure indicates money owed to Fat Shack by related entities, it is not the same as the company's overall cash balance. The FDD includes an Independent Auditor's Report that covers the financial statements of Fat Shack Inc. and Subsidiary, including the balance sheet as of December 31, 2023. This report confirms that the financial statements present fairly the financial position of Fat Shack Inc. and Subsidiary as of that date.
To determine the exact ending cash balance for Fat Shack in 2023, a prospective franchisee should carefully review the audited financial statements included in the 2025 FDD and consult with Fat Shack's franchise representatives. Reviewing the balance sheets and related financial statements will provide a clearer picture of the company's cash position at the end of 2023.