What was the total stockholders' deficit reported for Focalpoint Coaching in 2023?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
To the Board of Directors FocalPoint Coaching, Inc. Henderson, Nevada
Opinion
We have audited the accompanying financial statements of FocalPoint Coaching, Inc. (a Nevada corporation), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income, retained earnings (deficit), and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of FocalPoint Coaching, Inc. as of December 31, 2024 and 2023, 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 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to Focalpoint Coaching's 2025 Franchise Disclosure Document, the financial statements include balance sheets as of December 31, 2024 and 2023. These statements also include the statements of income, retained earnings (deficit), and cash flows for the years then ended. This information is part of an audit conducted to present fairly the financial position of FocalPoint Coaching, Inc.
The inclusion of 'retained earnings (deficit)' indicates that Focalpoint Coaching may have an accumulated deficit, which is a negative balance in the retained earnings account. This can occur when a company has cumulative losses exceeding its cumulative profits. The auditor's report confirms that the financial statements present fairly the financial position of Focalpoint Coaching as of December 31, 2024 and 2023.
While the auditor's report confirms the existence of a deficit, the specific amount of the stockholders' deficit for 2023 is not disclosed within the provided excerpts. To ascertain the exact deficit figure, a prospective franchisee should carefully review the complete audited financial statements included as an exhibit to the FDD and consult with a financial advisor.