What were the cash and cash equivalents for Focus Cfo as of December 31, 2023?
Focus_Cfo Franchise · 2025 FDDAnswer from 2025 FDD Document
Cash and cash equivalents include cash in bank and all highly liquid investments with maturities of three months or less.
The Company maintains a line of credit with First Merchants Bank, in the amount of $250,000. There was no outstanding balance on the line of credit at December 31, 2024 or 2023.
Source: Item 23 — Receipts (FDD pages 37–126)
What This Means (2025 FDD)
According to Focus Cfo's 2025 Franchise Disclosure Document, cash and cash equivalents are defined as cash in the bank and all highly liquid investments with maturities of three months or less. The FDD also states that the company maintains a line of credit with First Merchants Bank in the amount of $250,000, with no outstanding balance on the line of credit at December 31, 2023.
While the document provides the definition of cash and cash equivalents, and mentions the line of credit, it does not explicitly state the exact amount of cash and cash equivalents Focus Cfo possessed as of December 31, 2023.
A prospective franchisee should inquire with Focus Cfo about the specific amount of cash and cash equivalents the company held on December 31, 2023, to gain a clearer understanding of the company's financial position at that time. This information would be helpful in assessing the company's liquidity and overall financial health.